Gold expected to end the year at around $2,500, further rises likely in 2025 – FXStreet
Gold (XAU/USD) hit a new all-time high on Friday. Commerzbank commodity analyst Carsten Fritsch raised his year-end gold price forecast to $2,500 per troy ounce from $2,300, noting that upcoming interest rate cuts by the Federal Reserve will continue to support prices. Gold outlook brightens as Fed prepares to cut interest rates “US inflation fell […]
New York City migrant crisis costs expected to exceed $5B in 2-year period — double to $10B by 2025
New York City is estimated to have spent more than $5 billion on the migrant crisis over the past two years, an amount that is expected to double by 2025. Paying at least 36,939 households an average of $352 a night, the city expects to spend $4.75 billion to provide shelter, food, health care and […]
Inflation expected to cool slightly in July report as issue becomes key issue in presidential campaign
David Bahnsen, managing partner at the Bahnsen Group, analyzes the Federal Reserve’s plans to combat inflation for Barney & Co. Get noticed Inflation Report The data is due to be released Wednesday morning and is expected to show that inflation continues to ease as the issue has come to the forefront of the presidential election […]
Tropical Storm Ernesto expected to become Hurricane as it moves through Caribbean
Tropical storm warnings remain in effect for Puerto Rico and the U.S. Virgin Islands as Tropical Storm Ernesto continues to batter the islands with flooding rains and destructive wind gusts, with forecasters warning the storm could strengthen into a hurricane sometime Wednesday. The tropics have been active in recent weeks with the development of Hurricane […]
US producer prices rise less than expected in July
The Conference Board’s chief economist, Dana Peterson, analyzes the job market and consumer confidence on “Making Money.” U.S. producer prices grew slower than expected in July as rising commodity prices were tempered by lower services prices, suggesting inflation continued to ease. The Labor Department’s Bureau of Labor Statistics said on Tuesday that the producer price […]
Tropical disturbance in Atlantic expected to become Ernesto next week
As the remnants of Debby leave the East Coast, the National Hurricane Center (NHC) is tracking a new disturbance in the Atlantic that has the potential to develop into a tropical storm. A tropical wave located several hundred miles west-southwest of the Cape Verde Islands is producing widespread, chaotic showers and thunderstorms over the tropical […]
Jobless claims fall more than expected to ease recession fears
The number of Americans filing initial claims for unemployment benefits fell more than expected last week, easing fears of a labor market collapse that had sent markets plummeting. The Labor Department said on Thursday that seasonally adjusted claims for unemployment insurance fell by 17,000 to 233,000 for the week ended Aug. 3, the biggest decline […]
Jobless claims rise less than expected to 233,000
On “Making Money,” Piper Sandler Chief Global Economist Nancy Lazar discusses whether the U.S. economy is doing as well as earnings suggest. How many Americans are applying? Unemployment benefits Last week’s weaker-than-expected employment report came in, which may ease some concerns about the health of the labor market following disappointing July employment data. The figures […]
Taxpayers expected to save millions after COVID-era perk for illegal immigrants gets cancelled
Immigration and Customs Enforcement (ICE) has ended a COVID-era program that allowed undocumented immigrants hundreds of minutes of free video calls, Fox News Digital reported, a move that was estimated to save taxpayers more than $10 million a year. In response to the then-emerging COVID-19 pandemic and the resulting visitation restrictions, federal agencies began offering […]
Hurricane Debby makes landfall in Florida; expected to pound Southeast
Hurricane Debbie made landfall in Florida’s Big Bend at 7 a.m. ET on Monday, according to the National Hurricane Center (NHC). The storm reached maximum sustained winds of about 80 mph, making it a Category 1 hurricane. According to the NHC, the hurricane was moving in a north/northeast direction at 10 mph and made landfall […]