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...US Federal Reserve chair Jay Powell said it was likely to take “longer than expected” to bring inflation down to the central bank’s 2 per cent target, which does not bode well for Biden....
...And as banks reap record profits from credit card lending, delinquencies on credit card loans have hit their highest level in almost 13 years, says Moody’s Analytics....
...Neighbouring Washtenaw County, however, just edged out Wayne County for the highest share of “uncommitted votes”, at 17.2 per cent....
...The rating agency now predicts real US gross domestic product growth of 2.4 per cent this year, up from an earlier forecast of 1.5 per cent, it said on Thursday....
...However, its earnings are forecast to have shrunk to $1.65 a share from $2.32 as its margins and costs come under pressure from higher wages and cautious spenders focused on deals....
...He was awarded a potential $30mn in stock awards on top of his $1.4mn salary, the company said, lifting his total for the year above the $22.6mn he was paid in 2022....
...So-called core PPI, which strips out volatile food and energy costs, went up 0.5 per cent, also outpacing projections, taking the annualised rate up to 2 per cent from 1.8 per cent....
...It’s still at 2 per cent. The last reading had inflation clocking in at 3.4 per cent. So the Fed still has some work to do....
...In general election polls he is leading Biden by 2.1 percentage points, according to a RealClearPolitics average. We’ll be waiting to see if this is the night Trump dispatches Haley....
...Despite Biden’s fundraising advantage, Trump still leads the president in the polls by 2.1 per cent, according to a RealClearPolitics survey average....
...On a yearly basis, new home sales rose 1.4 per cent....
...Nike: The athletic apparel maker is projected to post a slight increase in revenue to $13.4bn for the three months to November....
...EPS in 2023 were $1.21. Shares of American were up more than 4.5 per cent in pre-market trading....
...The annualised rate increase of so-called core PPI, which strips out volatile food and energy costs, is projected to have moderated to 1.9 per cent in December from 2 per cent the prior month....
...Shares in Walmart rose 3.2 per cent to close at a record, while those in Vizio gained 16.2 per cent. Home Depot edged up 0.1 per cent....
...Inflation: Economists expect US government data to show that the consumer price index in December rose 3.2 per cent on an annual basis, up from 3.1 per cent in November....
...Mounting Republican attacks on the White House’s handling of the US’s southern border — where so-called “encounters” have soared from 1.7mn a year to about 2.5mn since Biden took office in 2021 — and dark...
...However, newly issued building permits, a barometer for future construction, declined 2.5 per cent on a monthly basis to 1.46mn....
...Economists expected a decline of 0.1 per cent. Excluding petrol and autos, sales were up 0.6 per cent. October’s sales figure was revised to a decrease of 0.2 per cent from a fall of 0.1 per cent....
...Last month, Tesla rolled out a similar fix to 1.6mn vehicles in China....
...General Mills shares were down 2.5 per cent at the market open....
...Shares of NRG fell 1 per cent in early trading on Monday....
...Inflation: The US consumer price index is expected to have fallen for the second consecutive month to an annualised rate of 3.1 per cent in November from 3.2 per cent in October....
...It took the average house price in the UK to £257,656, just 0.2 per cent below the level a year earlier. It followed an annual 1.8 per cent contraction in December....
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