The Bureau of Economic Analysis announced today that seasonally adjusted U.S. real GDP grew at a 1.6% annual rate in the first quarter. That’s a little lower than many analysts expected. But the year-over-year growth is still on track. Top panel: quarterly real GDP growth at an annual rate, 1947:Q2-2024:Q1, with the historical average (3.1%) in blue. Calculated as 400 times the difference in the natural log of real GDP from the previous quarter. Bottom panel: year-over-year growth rate. Calculated as 100 times the difference in the natural log of real GDP from the same quarter of the previous year.The new numbers put the Econbrowser rece...
Image Source: PixabayThe solution to a problem shouldn’t make the problem worse.But apparently, California’s policy makers missed that memo.On April 1st, the state instituted a $20 minimum wage for fast food workers, the highest in the US. With California’s absurdly high cost of living, the policy appeared to make life more manageable for low-income residents. Unfortunately, as the adage goes, “If it sounds too good to be true, it probably is.” California’s new minimum wage is poised to hurt the same fast-food workers it aims to help. The Economic Problem of a Minimum Wage The counterproductivity of a minimum wage is d...
Global equities had a strong start to the year as economic resilience and diminishing recession fears boosted risky assets overall. The S&P Global BMI surged 7.8% in the first quarter, led by developed markets; notably, the S&P 500® finished the quarter up 10.6%, at a new record high. Shariah-compliant global benchmarks beat their conventional counterparts, with the S&P Global BMI Shariah and Dow Jones Islamic Market (DJIM) World Index generating an outperformance of 0.8% and 0.6%, respectively, during the quarter. The DJIM World Emerging Markets Index was a laggard, trailing behind the conventional benchmark as well as t...
Image Source: UnsplashMicrosoft (MSFT) & Alphabet (GOOGL) produced solid earnings reports sending both stocks higher after the close which in turn pushed the NQ and ES higher. However, while I have switched to the “other” preferred count after the earnings were reported both counts remain active for now. Each time I feel one has overtaken the other and is appearing to be also taking over the ‘pole’ position the markets shove another surprise out there. So, for now, it all remains the same — 2 counts – 2 scenarios and 2 outcomes.Video Length: 00:28:52More By This Author:Nasdaq 100 & S&P 500 Elli...
Image Source: Unsplash Etsy (ETSY – Free Report) is scheduled to report its first-quarter 2024 results on May 1.For the first quarter of 2024, the Zacks Consensus Estimate for revenues is pegged at $648.32 million, indicating an improvement of 1.2% from the prior-year quarter’s reported figure.The consensus mark for earnings is pegged at 49 cents per share, suggesting a decline of 7.6% from the prior-year quarter’s actuals. This figure has remained unchanged over the past 30 days.Etsy’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters but remained in line with the same on the other occasion, th...
Stocks came in slumping again this morning.But voila, Alphabet (GOOGL) to the rescue.Stocks ended the day well into the green.Gold and silver held a little bounce higher.VIX fell. The Dollar dropped.Non-Farm Payrolls and FOMC next week.Have a pleasant evening. More By This Author:Stocks And Precious Metals Charts – Hiding Out Stocks And Precious Metals Charts – A ‘Relief Rally’ Stocks And Precious Metals Charts – Illusions...
Image Source: Pexels MARKETAmid a challenging backdrop marked by a concerning data mix, including significantly lower-than-anticipated Q1 GDP figures alongside unexpectedly heightened price pressures, the S&P 500 staged a remarkable rebound in after-hours trading. This turnaround was propelled by a swift narrative shift catalyzed by strong earnings performances from Alphabet (GOOGL) and Microsoft (MSFT). The tech giants’ stocks surged, injecting a significant dose of optimism into investor sentiment. This positive momentum provided a much-needed boost after Meta’s cautious forecast failed to inspire confidence in discerning e...
Business Employment Dynamics (BED) data and Monthly Job Data both from the BLS, chart by Mish BED Chart Notes Data is from the BLS Business Employment Dynamics (BED) report and the BLS monthly jobs reports (CES). BED data is less timely but far more accurate than the BLS monthly jobs reports/ For 2023 Q3, the BED reports shows gross job gains of 7.559 million and gross job losses of 7.751 million for a net loss of 192,000 jobs. The BLS monthly jobs reports show a gain of 640,000 jobs. BED Job Gains and Losses by Quarter Summary of Major Differences Note that BED data is based on 9.1 million establishments while the monthly jobs reports are ...
Google (GOOG/GOOG) just reported a blowout quarter after the market close Thursday. Revenue was +15%, Operating Margin surged to 31.6% from 25.0% a year ago and EPS of $1.89 is up 62% from the year-ago period. These are massive numbers so it’s no surprise the stock is currently +13% in the after-hours to all-time highs. Microsoft (MSFT) also reported an excellent quarter after the market close Thursday. Overall revenue was +17% and Intelligent Cloud Revenue +21% compared to a year ago. Operating margin of 44.6% was up 230 basis points compared to 1Q23. EPS of $2.94 was +20% from the year-ago period. Shares are currently +4% in the after-hou...
TM Editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.Image Source: Pixabay Intelligent Bio Solutions (Nasdaq: INBS) is a medical technology company developing and commercializing innovative, intelligent, rapid, noninvasive testing solutions. They are now catching their stride with commercializing their first razor-razorblade product solution, which is an intelligent fingerprinting machine that is supplanting the traditional methods of drug testing. These typically include saliva and urine tests which are biohazardous, time-consuming, and more expen...