In recent times, inflation in the United States has been on a steady decline, providing some relief for consumers. This decrease in inflation can be attributed to various factors, such as lower gasoline prices and easing price pressures across different sectors. As per the U.S. Labor Department, the consumer price index (CPI) rose by 3%
Trends
Despite inflation in the overall economy showing signs of cooling down, housing inflation remains alarmingly high in the United States. This slow decline is proving to be a major obstacle in bringing the consumer price index back to desired levels, according to economists. Housing, which accounts for a significant 36% of the CPI index, has
Sportsbooks and daily fantasy operators are gearing up for what is expected to be a significant bump in activity during the upcoming Summer Olympics in Paris. This major international sporting event, scheduled to kick off on July 26, will be the first Olympics to take place since the widespread legalization of gambling in the United
The UBS 2024 Global Wealth Report predicts a continued increase in the number of global millionaires over the next five years. This growth is expected across 52 out of 56 economies, spanning both developed and developing nations. Leading this surge is Taiwan, with a projected 47% rise in millionaires fueled by the flourishing microchip industry
China’s consumer price inflation only rose by 0.2% in June from a year ago, which fell short of expectations. The consumer price index was anticipated to increase by 0.4% year-on-year, highlighting a discrepancy between forecasts and actual data. This underwhelming performance may signal underlying weaknesses in the Chinese economy that could have far-reaching implications. On
Athletic Brewing Company, a leading nonalcoholic brewer, has recently announced the successful completion of an equity financing round led by General Atlantic, raising an additional $50 million. This investment is expected to propel the company’s growth and expand its reach in response to the increasing demand for nonalcoholic beer among consumers. Athletic Brewing Company plans
The San Francisco real estate market has been facing significant challenges in recent times, with the vacancy rate for office space reaching a record high of 34.5% in the second quarter. This is a substantial increase from 33.9% in the first quarter, 28.1% in the same period a year ago, and a mere 5% before
Micron Technology is a chipmaker that has been receiving a lot of attention from top-rated Wall Street analysts. Despite recent concerns about a potential economic slowdown, Micron Technology has managed to outperform expectations in the fiscal third quarter. The company’s strong performance can be attributed to the rising demand for artificial intelligence (AI) technology, which
Wall Street closed the trading week on a positive note, with tech stocks taking the lead. The Dow Jones Industrial Average saw a modest gain of under 1%, while the S & P 500 and Nasdaq closed at record highs, climbing nearly 2% and 3.5%, respectively. This positive momentum continued from the previous month and
The market for initial public offerings in Hong Kong is poised for a significant upswing over the next five years, a global IPO leader at EY predicts. Despite facing challenges such as high U.S. interest rates, regulatory scrutiny, slower economic growth, and U.S.-China tensions in recent years, there is optimism about a resurgence starting in