U.S. stocks achieved new highs for the year on Monday, signaling a busy week for corporate earnings. The Nasdaq showed strong performance, leading the way up. Positive Momentum for Dow Jones Industrial Average The Dow Jones Industrial Average (DJIA) experienced a rise of approximately 76 points, or 0.2%, ending at around 34,585, based on preliminary FactSet data. This marked … [Read more...] about U.S. Stocks Reach New Highs, Nasdaq Leads the Way
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US Monthly Retail Sales Growth Slows in February
Source: US Census Bureau Monthly retail sales in the United States continued to grow in February, albeit at a slower pace. QQQ is up 1.47%. Seasonally adjusted retail and food services stood at $658.1 billion in February, marking a 0.3% climb from the previous month and 17.6% growth from February 2021.The latest reading reflects a slower growth from the 4.9% increase in … [Read more...] about US Monthly Retail Sales Growth Slows in February
Why the Pandemic Showed Fed Matters in Crisis-hit Markets
Fed’s action during the early days of the coronavirus pandemic stemmed a rout in markets and kept financial costs low, according to Reuters. Fed restored trust in fragile moments, proving its critics wrong of role in preventing financial crisis. When the coronavirus crisis intensified in March, Fed’s initial moves propped up trading in Treasury bonds, short-term … [Read more...] about Why the Pandemic Showed Fed Matters in Crisis-hit Markets
U.S. Jobless Claims Defies Expectations to Close Lower at 803,000
The number of initial claims for the week ending December 19 came at 803,000, down from the previous 892,000, according to the Department of Labor press release. The jobless claims were better than expected 888,000. The previous week’s initial jobless claims were revised up by 7,000 from 885,000 to 892,000Continuing claims fell to 5.3 million for the week ending … [Read more...] about U.S. Jobless Claims Defies Expectations to Close Lower at 803,000
U.S. Records Increases in GDP in Third Quarter 2020
U.S. real gross domestic product (GDP) rose at an annual rate of 33.4% in the third quarter of 2020, according to the Bureau of Economic Analysis press release. The rise was an improvement from the second quarter, where real GDP fell by 31.4%. Current dollar GDP rose by 38.3% annual rate, or $1.65 trillion, in the third quarter to $21.17 trillion, up from a decline of … [Read more...] about U.S. Records Increases in GDP in Third Quarter 2020
