U.S. Home Sales Fell 7.7%
As a result of high mortgage rates and home prices, which drove many potential buyers out of the market, existing-home sales in the United States fell for a record 10th consecutive month in November.
Go Deeper (2 min read)China's Factory Activity Slows Down
According to the National Bureau of Statistics, October saw a decline in factory activity in China as a result of recurrent Covid outbreaks. According to the report, the official purchasing managers' index for manufacturing decreased from 50.1 in September to 49.2 last month.
Go Deeper (2 min read)Inflation Is Easing
The consumer price index, which tracks how much people pay for goods and services, increased 7.1% in November from a year earlier, according to the Labor Department on Tuesday. This is a considerable decrease from the 7.7% rise seen in October.
Go Deeper (2 min read)Preparing For A Recession
David Solomon, the chief executive of Goldman Sachs Group, said that the company would have to cut back on spending and hiring as it cope with a slowing economy.
Go Deeper (2 min read)Real Estate Space Gets A Hit
As they downsize, the large technology corporations that fueled U.S. office demand for years as they built up their empires are now breaking leases and saturating commercial areas with office space.
Go Deeper (2 min read)More from Markets
Higher Inflation And Rates Hikes Ahead
Russia's invasion of Ukraine is likely to raise inflation according to Jerome Powell, which would be a blow to the Fed's predictions of easing pricing pressures in the coming months.
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Labour Market Heals
According to Labor Department figures released Tuesday, job postings totaled roughly 11 million in December all while the Great Resignation slowed.
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What changed in the last quarter was what retail investors were trading. They shied away from meme stocks, opting instead for more conservative exchange-traded funds.
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The states benefited from demographic changes before and throughout the pandemic, with large payroll increases in the retail, warehousing, technology, and transportation industries.
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A Look Beneath The Surface
The stock market's start to 2022 has been fragile, as evidenced by the sell-off in several stocks. Last week, U.S. equities fell for the second week in a row, pushing the S&P 500 and Nasdaq down 2.2% and 4.8%, respectively. Some equities and sectors have fallen even faster.
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Deflation? Not So Fast...
In a webinar on Tuesday, ARK Invest's Cathie Wood doubled down on her prediction that deflation, not inflation, will be the most important driver in the US economy in the coming year.
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