Quick Overview Japanese household spending in July rose just 0.1% year-on-year, missing expectations; Inflation-adjusted wages grew, but consumers remain cautious about long-term wage stability; Consumers shifted spending towards non-essentials, cutting back on food and utilities;
Quick Overview Massive Wealth Erosion: $16 billion lost by China’s wealthiest due to stock selloffs in Nongfu Spring and PDD Holdings. Zhong Shanshan’s Setback: Nongfu Spring’s 10% stock drop slashed $3 billion from Zhong’s wealth,
Key Points Inflation Slows: U.S. consumer prices rose by 2.9% in the 12 months leading to July, the slowest increase since March 2021. Rate Cut Speculation: As inflation nears the Federal Reserve’s 2% target, speculation
Key Points Fed’s Balancing Act: Jerome Powell’s mission to reduce inflation to 2% faces challenges as unemployment rises. Jamie Dimon’s Doubts: Dimon questions the Fed’s ability to hit the 2% target, citing geopolitical tensions and
Quick Look: Current mortgage rates are over twice as high as during the pandemic, significantly increasing homebuying costs. The scarcity of homes for sale leads to fierce competition and higher prices, frustrating many potential buyers.
Quick Look: June saw a 6.6% drop in new durable goods orders, totalling $264.5 billion. Orders for transportation equipment fell by 20.5%, significantly impacting overall figures. Durable goods orders, excluding transportation, rose by 0.5%, indicating
Quick Look: New U.S. unemployment benefits surged to 243,000, with continuing claims reaching 1.867 million, the highest since 2021. Significant increases in jobless claims in Michigan and New York, while California and New Jersey saw
Quick Look: Inflation dropped to 3% in June 2024, down from 3.3% in May, providing consumer relief. The pandemic, supply chain issues, and global events like the Ukraine war significantly fueled inflation. The stimulus packages
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