Source: University of Michigan Consumer sentiment plunged by double-digits in May, dragged by the negative outlook on the economy and the inflationary uptick. QQQ is up 2.23%, while SPY is up 1.53%. The Index of Consumer Sentiment stood at 58.4 in May, reflecting a 10.4% decline from 65.2 in April and a 29.6% decline from 82.9 in May 2021.Survey of Consumers Director … [Read more...] about Consumer Sentiment Posts Double-Digit Decline in May
US Narrows International Trade Deficit in March
The United States narrowed its international trade deficit in March, as exports increased while imports declined during the period. Source: US Census Bureau QQQ is up 1.96%, while SPY is up 1.44%. The advance international trade deficit stood at $105.9 billion in April, lower than the $125.9-billion deficit in the previous month. Exports of goods increased by … [Read more...] about US Narrows International Trade Deficit in March
US Trade Deficit Narrow by $20B to Below-Estimate Levels in April
Source: Census Bureau The US recorded a trade deficit of $105.9 billion in April, a decline of $20.0 billion from March, and below estimates of a $114.9 billion shortfall. SPY is up +1.30%, DXY is down -0.14%. The narrower trade deficit in April reflected a monthly decline of $14.8 billion in imports which hit $279.9 billion. Exports increased by $5.2 billion to $173.9 … [Read more...] about US Trade Deficit Narrow by $20B to Below-Estimate Levels in April
US Personal Income Growth Slows for Second Straight Month
Source: Bureau of Economic Analysis Personal income in the United States continued to grow in April, albeit at a slower pace, driven mainly by higher compensation during the month. Personal income increased by $89.3 billion or 0.4%, following the 0.5% growth in March. This is the second straight month of slower growth.Disposable personal income grew $48.3 billion or 0.3%, … [Read more...] about US Personal Income Growth Slows for Second Straight Month
Chinese Industrial Profits Decline by Two-Year High
Source: National Bureau of Statistics of China Industrial profit groups in China recorded the biggest decline in two years in April, indicating the impact of the latest COVID-19 lockdowns on the economy and corporations. MCHI is down 0.22%, while BABA is down 2.70%. Chinese industrial profits fell by 8.5% in April, marking the biggest decline since March 2020 during the … [Read more...] about Chinese Industrial Profits Decline by Two-Year High
