New Home Sales Jump Past Expectations, Underscoring Economic Resilience
Sales of new single-family homes surged in March, surpassing all economist forecasts, adding to a series of backstreet surprises in recent economic data. New home sales increased 7.4% from an annual rate of 724,000, according to the US Census Bureau and the Department of Housing and Urban Development. That figure not only won the consensus […]
Chipotle sales slump as recession fears hit burrito chain: ‘Consumers were saving money’
Chipotle Mexican Grill on Wednesday softened its annual sales growth forecast as sticky inflation and economic uncertainty reduced consumers and brought Burrito Chain stock down 3% after opening hours. The company is currently expecting annual sales growth rates in a single digit lower range compared to its pre-estimation of low single digit rise. President Trump’s […]
Boeing to be ‘pragmatic’ on China sales amid trade tensions, CEO says
President Donald Trump chose the aerospace giant to build the next generation of aviation control platforms. Boeing CEO Kelly Autoberg said Wednesday that he will work to protect the aerospace giant’s turnaround from the effects of the trade war between the US and its trading partners, particularly China. Prior to the company’s quarterly revenue announcement, […]
Musk says time spent on DOGE will drop next month as Tesla sales plunge
Tesla CEO Elon Musk said Tuesday that he plans to reduce the hours of working at the White House Department of Government Efficiency (DOGE) initiative to focus more on electric car manufacturers whose sales plummeted in the first quarter. “I’ll probably start [the] Musk said on a Tesla revenue call on Tuesday evening. “I think […]
Tesla slaps $10K discounts on Cybertruck amid poor sales
Tesla reportedly reduced production and boosted its much exaggerated cybertruck discount As a sales skid An inventory is built. Elon Musk’s EV Company reduced production targets for multiple Cybertruck assembly linesBusiness Insider Report – Tesla suspended delivery of futuristic vehicles due to ramp-delayed reports that the trim was not glued. Sources told Business Insider that […]
Retail sales surged in March led by autos as consumers looked to beat tariffs
SW Retails Advisors Stacey Widlitz analyzes why retail spending was lower than expected in February at Claman Countdown. US retail sales rose more than expected in March as consumers put big ticket purchases on the forefront to anticipated tariff-induced price hikes. The Commerce Department released the data in March on Wednesday. This showed a 1.4% […]
Australian Dollar receives support from improved global risk mood, US Retail Sales eyed – FXStreet
The Australian dollar remains stable despite the release of a soft Westpac major index on Wednesday. China’s GDP grew year-on-year at 5.4% in the first quarter, exceeding the expected 5.1%, maintaining a stable pace of expansion. The US dollar remains muted prior to the release of retail sales data in March later that day. The […]
How investors are positioning ahead of a big March retail sales report – CNBC
Tariffs and trade policies have dominated market measures since April 2, but the March retail sales report could affect investors’ trust and positioning. According to Dow Jones, economists believe sales are rising for a month. Consumer spending to surpass the price of goods due to tariffs is considered the main catalyst for this increase. If […]
Hermes overtakes LVMH as world’s most valuable luxury company after lackluster sales
Lauren Simonetti of Fox Business has New York City details about “Cavuto: Coast to Coast.” LVMH handed over the title on Tuesday as the world’s most valuable luxury company. Known for brands such as Louis Vuitton, Dom Perignon, Givenchy, Tiffany & Company and Tag Heuer, LVMH’s market capitalization was around 244.1 billion euros mid-Tuesday, lower […]
Jamie Dimon sells $31.5M worth of JPMorgan shares in latest round of stock sales
JPMorgan Chase CEO Jamie Dimon sold about $31.5 million worth of shares in the bank, according to regulatory filings. Also, since taking over the top role in 2005, Dimon has offloaded several shares with his first such sales last year. Last week, US largest lender JPMorgan outperformed record-breaking first quarter earnings estimates for stock trading […]