82 Search Results for: covid
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Market Commentary: A Muddled Economic Picture, Volatile Markets and Rising Inflation
The U.S. economic picture is looking more muddled than expected. The Consumer Price Index rose 0.8% last week. Used automobile prices rose quickly in response to the semiconductor shortage limiting new car production and demographic trends boosting demand. Retail sales were expected to bui …
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Market Commentary: GDP Surges After Stimulus, Fed Reiterates Low Interest Rates
U.S. GDP surged an annualized 6.4% in the first quarter (Figure 1). Two rounds of government stimulus helped the economy climb within 0.9% of its all-time high. If expected growth is included, the economy remains 3.7% below pre-COVID trends. Personal income jumped 21.1% from February as a …
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Market Commentary: S&P Shows Strong Growth as Housing Prices Continue to Climb
S&P 500 earnings are exceeding elevated expectations. Before earnings season began, S&P 500 earnings were expected to grow 23.6% as businesses rallied from lower earnings during the COVID shutdowns from one year ago. Based on the first quarter of companies reporting, earnings are n …
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Market Commentary: Inflation Could Be On the Horizon, Service Businesses Make a Comeback
Producer prices climbed 4.2% last week (Figure 1). Energy prices contributed to the largest gain since the index rose 4.5% in September 2011. The jobs market continues to see a high level of initial jobless claims while steady progress is being made in reducing the number of unemployed rec …
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Market Commentary: Jobs Market Shatters Expectations, Housing Prices on the Rise
The U.S. jobs market roared back to life in March. The economy added or reclaimed 916,000 jobs, shattering expectations of a 150,000 increase. Workers being recalled or hired to fill openings at restaurants and bars contributed 176,000 jobs to March’s gains. Previous months were revised hig …
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Market Commentary: Personal Income Fell in February, Stimulus Clouds Underlying Economic Health
Slow improvement in economic data is being masked by the surging nature of government support. The gush of personal income growth in January was followed by a 7.1% decline in February. March will likely surge again with the latest round of stimulus. Employee compensation, which excludes go …
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Market Commentary: Retail Sales Fell After January Stimulus Surge, Don’t Expect Interest Rate Hike
Retail sales were unable to keep pace with a stimulus-induced surge. Retail and food service sales dropped 3% in February after spiking 7.6% in January. The January data was revised 2.3% higher than first reported. Core retail sales, which exclude autos, gasoline, and restaurants, fell even …
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Market Commentary: Biden Signs Stimulus Bill, U.S. Surpasses 100 Million Vaccine Doses, Recovery Continues
Events are aligning to give the U.S. economy a big boost. The Biden administration approved a $1.9 trillion stimulus package that will provide immediate relief to millions of American households. Last week the U.S. surpassed 100 million vaccine doses, and expectations are the U.S. will be v …
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Rebate Checks, Child Tax Credits, Unemployment Benefits and More: What You Need to Know about the $1.9 Trillion Stimulus Package
The latest stimulus package – signed into law Thursday by the Biden Administration – is built to boost the middle class and low-income Americans, the goal being of course to speed up economic recovery.
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Market Commentary: Monthly Job Growth Exceeds Expectations, New Stimulus Bill Advances
The U.S. economy returned to rapid job growth last month as fewer new COVID cases and loosening restrictions increased demand for labor. Restaurants and bars accounted for more than half the net gains, as employment in this hard-hit sector increased 286,000. Despite efforts to reopen school …
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