Employment Data Alleviates Recession Concerns
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October 14, 2024; Last month’s jobs report alleviated recession concerns; Consumer Price Index (CPI) shows inflation moving positively but slower than expected; 10-year Treasury yield increased by 10 basis points; Falling energy prices contributed to lower headline inflation; Core inflation accelerated for the third consecutive month; Producer Price Index (PPI) fell to lowest level since February 2021; Personal Consumption PPI increased 0.1% in September, down from 0.3% in August; Year-over-year Personal Consumption PPI running at 1.8%; Federal Reserve Bank of Atlanta's GDPNow estimate for Q3 2024 real GDP growth rose to 3.2%; Expected interest rate cut of 25 basis points at next Fed meeting; Strong wage growth and lower inflation benefiting household finances; Potential headwinds include climate disasters and contested elections.

#Economy #Inflation #Employment #FederalReserve #Gdp #Ppi #Cpi #InterestRates #Housing #ConsumerSpending

https://dallasexpress.com/business-markets/employment-data-alleviates-recession-concerns/ 

 U.S. Debt Hits a Staggering $1.9 Trillion in Just Months
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The federal government borrowed $1.9 trillion in the first eleven months of fiscal year 2024, including $380 billion in August; Maya MacGuineas, president of the Committee for a Responsible Federal Budget, stated this equates to roughly $6 billion borrowed per day; she warned of upcoming fiscal challenges, including the need to extend the 2017 tax cuts and raise the debt ceiling; MacGuineas emphasized the urgency for presidential candidates to address high debt and deficits; the U.S. Government Accountability Office reported that federal spending levels are unsustainable long-term; Gene Dodaro, U.S. Comptroller General, called for Congress to act on the growing federal debt, which threatens the economy and public safety.

#UsDebt #FiscalYear2024 #GovernmentSpending #MayaMacguineas #Congress #DebtCeiling #SocialSecurity #EconomicPolicy #BudgetDeficit #Gao

https://dallasexpress.com/national/u-s-debt-hits-a-staggering-1-9-trillion-in-just-months/ 

 Dollar stores disastrous earnings send ominous signal about U.S. economy, consumers
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Declining earnings from Dollar Tree and Dollar General signal potential recession; shares of both companies have plummeted; Dollar General CEO Todd Vasos notes middle and higher income households feel less pressure than low-income households; analysts Michael Montani and Greg Melich highlight headwinds for low to middle income consumers; Scott Shellady states consumers are 'tapped out' financially; Federal Reserve Bank of Dallas reports modest growth in dinner sausage sales as a sign of economic weakness; food manufacturer prepares for recession; Dollar Tree's shares fell after revising annual outlook due to pressure on lower- and middle-income customers.

#DollarStores #Economy #Recession #ConsumerSpending #Earnings #Inflation #FoodPrices #MarketAnalysis #Retail #FinancialNews

https://dallasexpress.com/business-markets/struggling-dollar-stores-signal-bad-news-for-u-s-economy/ 

 Another tough month for stocks as S&P 500 drops sharply on worries of slowing economy
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The S&P 500 fell 4.2% last week due to concerns about the U.S. economy; September is historically the weakest month for stocks, with an average decline of 1.2% since 1928; Chicago Federal Reserve Bank President Austan Goolsbee expressed concerns about economic data; Treasury Secretary Janet Yellen claimed the labor market is healthy despite weakening data; analysts are cautious following a strong rally in early 2024; investors await Wednesday's inflation report and the performance of big tech stocks like Nvidia.

#Stocks #S&p500 #Economy #Recession #LaborMarket #Inflation #TechStocks #AustanGoolsbee #JanetYellen #September

https://dallasexpress.com/business-markets/another-tough-month-for-stocks/ 

 U.S. Has Fewest Available Jobs Since January 2021
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As of July 2024, U.S. job openings fell to 7.67 million, the lowest since January 2021; June's openings were revised down to 7.91 million from 8.18 million; economists expected 8.1 million openings; hiring rate increased to 3.5% in July from 3.3% in June; quits rate rose to 2.1% from 2%; Oxford Economics' Nancy Vanden Houten noted demand for labor is easing; Federal Reserve may cut interest rates due to softening economy.

#JobOpenings #Economy #FederalReserve #LaborMarket #Employment #InterestRates #BureauOfLaborStatistics #Hiring #QuitsRate #EconomicIndicators

https://dallasexpress.com/business-markets/u-s-has-fewest-available-jobs-since-january-2021/ 

 Labor Department issues revised figures for 2023 that point to greater economic fragility
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The U.S. Bureau of Labor Statistics revised job growth figures for 2023 downward by 818,000, marking the largest revision since 2009; the average annual update in the last decade was about 173,000 jobs, making this revision 373% higher; President Joe Biden's economic policies are criticized as ineffective; Former President Donald Trump accused the Biden-Harris administration of manipulating job statistics; the revision indicates that job growth was likely around 174,000 jobs per month instead of the reported 242,000; concerns arise that the Federal Reserve may have delayed necessary interest rate cuts; the final job numbers will be confirmed in February 2025.

#UsEconomy #JobMarket #BureauOfLaborStatistics #EconomicPolicy #InterestRates #Biden #Trump #LaborMarketRevision #2023 #FederalReserve

https://dallasexpress.com/business-markets/u-s-job-market-gets-biggest-markdown-since-2009/ 

 Hotels, airlines expecting Americans to partake in less leisure travel, pare down trips
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Despite high inflation, a Harris Poll found only 17% of U.S. adults planned to travel less in 2024; 57% intend to travel the same amount as in 2023, and 26% plan to travel more. Consumers are focusing on affordable travel options, avoiding peak seasons. However, the travel economy is showing signs of slowdown, with executives from Expedia, Marriott, Airbnb, and Hilton noting 'softness' in demand. Travelers are prioritizing value, with some opting for cheaper accommodations. Kai Tenenberg, a 36-year-old healthcare worker from Palm Beach County, Fla., exemplifies this trend by staying with friends to save money.

#Travel #Inflation #Economy #Leisure #Poll #Hotels #Airlines #ConsumerBehavior #Bidenomics #Spending

https://dallasexpress.com/business-markets/travel-spending-declines/ 

 U.S. Economy Likely To Enter A Recession By The End Of 2024
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There is an increasing risk of a recession; Monday's stock prices plummeted and unemployment is on the rise; JPMorgan Chase predicts the U.S. economy is likely to enter into a recession by the end of the year; there is a 45% likelihood of a recession occurring in the second half of 2025; JPMorgan economists raised the odds of an economic downturn this year to 35%, citing easing labor market pressures; they still see a 45% chance of a recession in the second half of 2025; JPMorgan expects the Federal Reserve to cut interest rates twice this year, in September and November; the disappointing July jobs report reignited fears of a slowing economy; the report triggered the Sahm rule, an indicator used to provide an early recession signal.

#UsEconomy #Recession #StockPrices #Unemployment

https://dallasexpress.com/business-markets/u-s-economy-likely-to-enter-a-recession-by-the-end-of-2024/