LONDON, SYDNEY—Global stocks edged lower on Friday after disappointing tech earnings sapped risk appetite, while the dollar soared against the yen. The MSCI World index of global shares, which has risen more than 16 percent this year, dipped 0.3 percent. Europe’s STOXX 600 was flat and Germany’s tech-heavy Dax slipped 0.3 percent. Following steep post-earnings…
Global Shares Subdued After US Tech Earnings Disappoint
July 21, 2023
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Majority of Canadians Say Taxes, Government Spending Are Too High, Poll Finds
Two-thirds of Canadians say they believe the amount of income tax they pay is too high, while over half of Canadians say government spending is too high, according to an Ipsos poll. “Beyond results on views of spending levels and the degree of accountability and transparency in spending practices displayed by the federal government, this study…
JPMorgan Chase CEO Jamie Dimon Lists a Number of Threats to the US Economy
July 20, 2023
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JPMorgan Chase CEO Jamie Dimon listed three major threats to the U.S. economy in a recent comment during the bank’s second-quarter earnings call, according to the transcript. The banking giant’s July 14 second-quarter results showed revenue and earnings exceeding economists’ expectations, but the JPMorgan chief stands on the side of caution. JPMorgan reported net income…
Nearly 60 Percent of Canadian Parents Worry About Their Kids’ Financial Future: Survey
Nearly 60 percent of Canadian parents are worried about their children’s financial future, according to a new survey by TD Bank Group. Released on July 19, the survey noted 58 percent of Canadian parents said they often worry about their child’s financial future, particularly amid high inflation and uncertain economic conditions prevailing in the country….
Housing Starts Tumble Despite Signs of an Improving Home Sales Market
July 20, 2023
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The number of housing starts tumbled last month, despite signs that the home sales market is heating up again after falling. Housing starts take into account the change in the number of new residential buildings beginning construction. New single-family home construction fell 8 percent from May to June, according to July 19 report from the U.S. Census…
Dollar Steadies After One-Two Punch From Aussie, Chinese Yuan
LONDON—The dollar held mostly steady against the euro and the yen on Thursday, but dropped against the Australian dollar after domestic job data beat expectations, and against the yuan, which received a lift from Chinese monetary authorities. The dollar is heading for its first weekly gain in nearly a month against a basket of currencies,…
Stocks Shuffle Sideways, China Drips in More Support
July 20, 2023
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LONDON—World share markets shuffled sideways on Thursday as investors looked ahead to a clutch of key central bank meetings next week and disappointing earnings from Netflix and Tesla pushed Wall Street futures lower. There had been pockets of gains in Asia and in commodities markets overnight after China pledged some additional support for its economy…
Falling Petrol and Diesel Prices Drove Inflation Down to 7.9 Percent: ONS
The UK’s annual inflation rate in June has slowed down to 7.9 percent, largely driven by falling motor fuel prices, according to figures published on Wednesday by the Office for National Statistics (ONS). The drop, bigger than some forecasts, left economists wondering whether the Bank of England (BoE) would go easier on its next interest rate hike,…
Las Vegas Rent Decreasing
July 19, 2023
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In 2022, most Americans had it rough financially. Inflation surged up to 9.1 percent at one point, and food prices hit an increase of 9.9 percent. If that wasn’t enough, those who rented were also hit hard. Overall, in the United States, multifamily renters were experiencing increases of 12.2 percent for new tenants. Renewals were…
US Corporate Debt Defaults in 2023 Surpass Last Year’s Total: Moody’s
July 19, 2023
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The total amount of corporate debt defaults in the United States this year have already exceeded the amount seen in 2022. Experts have been warning of a wave of defaults to hit the economy for some time due to higher borrowing rates. At least fifty-five American-based companies defaulted on their loans in the first half…
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