Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
Brazil Defers Gasoline Subsidy Removal, Fueling Fiscal Jitters
Brazil delays decision on gasoline subsidy removal until next week, prioritizing rural debt restructuring and citing Iran conflict uncertainty, reigniting market inflation and fiscal worries.
Mortgage Rates Edge Down but Remain Above 6% Threshold
Mortgage rates fell to a seven-week low of 6.43% per Freddie Mac, but daily rates remain in the mid-6% range, keeping pressure on homebuyers and refinancing.
Walmart Slashes Beef Prices as Political Pressure Mounts on Grocers
Walmart reduces prices on beef and summer essentials as Washington urges grocers to lower costs. The strategy pressures rivals Kroger and Amazon.
US Jobs Miss Estimates as Labor Force Shrinks, Fed Rate Hike Odds Dip
US payrolls rose only 57,000 in June, well below the 110,000 forecast, as a sharp drop in labor force participation masked underlying weakness. Fed rate hike odds declined.
July Social Security Calendar Creates $11.5 Billion SSI Timing Shift
July's six deposit dates pull August SSI cash forward, affecting daily spending and bank balances without changing total benefit income.
European Heatwave Tests Grid Stability as AC Adoption Lags
A record heatwave in Europe is boosting air-conditioner sales for Samsung, LG, Midea, and Mitsubishi Electric, but grid stress and high power prices raise concerns about energy system resilience.
Boomer Wealth Tops $90 Trillion but Cash Reserves Are Thin, Posing Risks for Banks and Retailers
U.S. baby boomers control nearly $90 trillion in household wealth, yet their average liquid cash is only $100,250, signaling a key risk for firms dependent on retiree cash flow rather than net worth.
