Fed’s Favorite Inflation Gauge Shows Prices Rising Again
A key U.S. inflation measure showed prices rose again in December, suggesting that the respite in price increases seen the previous month was short-lived. The personal consumption expenditure price index rose 0.2% month-on-month, in line with expectations and up from -0.1% in November. This is the largest month-on-month increase in the PCE price index since […]
NBA trade rumors: 4 players on the block, and the asking prices for them
There are two weeks left until the Feb. 8 NBA trade deadline, but even with a flurry of early trades, the league's customary game of musical chairs is still far from over. Some potential sales teams are still demanding significant amounts of money for players on the block, playing a high-stakes game of chicken before […]
Gold prices steady amid rate-cut uncertainty; Copper cools from China gains By Investing.com – Investing.com
©Reuters. Investing.com — Gold prices edged lower in Asian trading on Wednesday, holding on to the trading range set over the past week amid growing market uncertainty over a U.S. interest rate cut this year. Among industrial metals, prices edged lower after copper prices rose sharply earlier this week on growing optimism about China. Gold […]
Wall Street and Main Street get cold feet on gold prices – Kitco NEWS
(Kitco News) – Gold started the week on a high, trading around $2,050 an ounce, driven by safe-haven demand from Middle East conflicts and stubborn market sentiment that interest rates will be cut sooner. However, as the shortened holiday week progressed, hawkish central bank comments steadily declined and a lack of geopolitical energy stimulus dampened […]
Gas prices climb higher as arctic winter weather impacts production: AAA
With the colder weather this week, your pump bill may have gone up. (iStock) Gas prices rose slightly this week as arctic winter weather affected gas production across the country, according to AAA. AAA said the national average cost of a gallon of gasoline rose 2 cents from last week to $3.09, reflecting a slowdown […]
NYC building sales slump despite plummeting prices because of crippling regulations, high interest rates
City building values are falling under the weight of high interest rates, crippling regulations, and massive vacancies caused by working from home and layoffs due to the pandemic. Many properties are currently worth less than their debts and remain unsold. Sales in 2023 were the lowest since 2009, according to the New York Real Estate […]
Surprise Build In Crude Oil Inventories Weigh On Prices – OilPrice.com
U.S. crude oil inventories rose by 483,000 barrels this week for the week ending Jan. 12, after analysts had expected 2.4 million barrels, according to the American Petroleum Institute (API). API reported that crude oil inventories decreased by 5.215 billion barrels in the previous week. On Tuesday, the Department of Energy (DoE) reported that crude […]
Airbnb eyes increasing housing supply, driving down prices
Airbnb is launching an initiative to consider how to address the national issue of housing affordability, with a focus on increasing supply and lowering prices. The company announced Wednesday. Establishment of new housing councilchaired by former Baltimore Mayor Stephanie Rawlings-Blake, who is also president of the U.S. Conference of Mayors. The council will advise the […]
UK inflation unexpectedly rises despite sharp fall in fuel prices | Inflation
UK inflation unexpectedly rose to 4.0% in December, complicating expectations that the Bank of England would start cutting interest rates. The Office for National Statistics said the annual inflation rate, as measured by the Consumer Price Index (CPI), rose from 3.9% in November, halting the recent sharp decline. Economists in the city had predicted a […]
Fatburger owner to raise prices, trim hours amid minimum wage hike
The owners of four Fatburger franchises in Los Angeles are raising menu prices and shortening workers' hours to offset an impending California law that would raise the minimum wage for fast-food workers to $20 an hour. and abolished paid leave. Marcus Wahlberg, who owns the popular outpost, said he was forced to take drastic action […]