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  • Dec 19, 2024

Philly Fed's manufacturing gauge slumps to 20-month low

The Federal Reserve Bank of Philadelphia said on Thursday that its monthly manufacturing index fell for a second straight month to negative 16.4 - the lowest since April 2023 - from negative 5.5 in November. The regional report from the Philly Fed suggests the factory sector, accounting for just over 10% of the economy, is continuing to struggle finding its footing in the wake of the Federal Reserve's interest rate hikes in 2022 and 2023. While the Fed has shifted to rate cuts in the last half of this year, it is not expected to ease that much further from here and market-based measures of borrowing costs remain notably higher than they were in early 2022 and continue to exert pressure on investment.

  • Dec 19, 2024

Jim Cramer Warns Of 'Incredible Panic' As Jerome Powell's Hawkish Outlook Send Stocks Into Free Fall: 'People Throwing Away Good And Bad'

The U.S. stock market experienced a severe selloff Wednesday after Federal Reserve Chair Jerome Powell‘s comments triggered what CNBC’s Jim Cramer described as “incredible panic” in the markets. What Happened: “People throwing away good and bad. Typical index fund behavior,” Cramer wrote on X, specifically highlighting concerns about small-cap stocks’ performance. “And all of those people who loved the Small Caps (the Russell 2000?) now what??” Don’t Miss: Warren Buffett once said, "If you don't

  • Dec 19, 2024

Wall Street Pins Hopes On Friday's Crucial Fed Inflation Report: Miracle Needed To Shift Narrative

If markets hope to recover from the sharp sell-off triggered by the Federal Reserve’s December meeting, Friday's release of the Personal Consumption Expenditure price index — widely regarded as the Fed’s preferred inflation measure — will play a crucial role. Unfortunately for investors, the outlook is far from reassuring. Scheduled for release at 8:30 a.m. ET Friday, economists expect the PCE price index to climb to 2.5% year-over-year in November 2024, up from 2.3% in October. This would mark

  • Dec 19, 2024

Why U.S. Celebs Like George & Amal Clooney's Global Real Estate Portfolio Is A Smart Hedge Against A Fluctuating U.S. Market

The U.S. housing market has been on a post-pandemic roller coaster, with fluctuating home prices, interest rates and a hostile political environment creating uncertainty among homeowners and investors. For the ultrarich, however, there is no need to rely purely on the vagaries of the U.S. housing market. Global real estate is where the smart money is, spreading investments across a broad swathe of trans-Atlantic holdings, diversifying portfolios and accumulating a collection of vacation homes. D

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