Dems Lose Faith As UMich Sentiment Expectations Dip In October
Dems Lose Faith As UMich Sentiment Expectations Dip In October The final data for the UMich Sentiment survey in October surprised bigly to the upside (70.5 vs 69.0 exp vs 70.1 prior), notably above the 68.9 preliminary print as both current conditions and expectations sub-indexes both jumped significantly from their flash prints (but the latter […]
Third-Quarter iPhone Sales In China Fall As Huawei Competition Heats Up
Third-Quarter iPhone Sales In China Fall As Huawei Competition Heats Up The International Data Corporation released a report Friday morning showing that China’s smartphone shipments increased 3.2% year-over-year to 68.8 million units in Q3 2024, marking the fourth consecutive quarter of growth. However, there’s more to the story. Let’s begin with the good news for Apple: “Apple […]
Gold Rush Fizzles: Miners Struggle Despite Bullion Boom
Gold miners are struggling to capitalize on record-high gold prices due to rising operational costs, particularly in labor and other expenses. Newmont Corp., the world’s largest gold miner, reported disappointing earnings, revenue, and profit margins in the third quarter, causing its stock to plummet. This suggests that the gold mining industry may be facing challenges […]
New IRS Unit Begins Targeting Pass-Through Businesses
New IRS Unit Begins Targeting Pass-Through Businesses Authored by Naveen Athrappully via The Epoch Times (emphasis ours), The IRS has officially launched a new unit that it states will “more efficiently conduct audits” of entities known as pass-through businesses. The initiative targets businesses that pay no taxes on their revenue. Instead, the income generated is passed […]
Is Silver the New Gold? Industry Demand Challenges Traditional Hierarchies
Silver prices have reached historic highs on the Multi Commodity Exchange. Anil Agarwal from Vedanta Group highlighted the increasing industrial importance of silver. Demand has doubled, driven by its use in various industries. Hindustan Zinc, part of Vedanta, is a significant producer, and a new industrial park in Rajasthan aims to boost local industries and […]
Kremlin's Economic Gambit: 21% Interest Rate to Tame Runaway Inflation
Russia’s central bank has raised its key interest rate to a record-high 21% in response to persistent inflation, which reached 8.6% year-on-year in September. The bank cited strong domestic demand outpacing supply capabilities and increasing inflation expectations as reasons for the rate hike. This move comes as Russia’s economy continues to grow, driven by oil […]
Profit-Taking Halts Gold's Ascent, Geopolitical Tensions Provide Support
After reaching an all-time high of $2,758.37 per ounce on Wednesday, gold experienced a modest decline on Friday due to profit-taking. The precious metal’s price fell 0.4% to $2,724.50 per ounce, though its downward movement was limited by persistent geopolitical concerns and the approaching U.S. presidential election.
Gold Retreats From Peaks But Maintains Bullish Momentum
Gold prices dipped slightly on Friday but remained near record highs as uncertainty surrounding the upcoming U.S. presidential election and escalating tensions in the Middle East fueled safe-haven demand. Despite pressure from a stronger dollar and higher Treasury yields, gold was on track for its third consecutive week of gains, with spot gold rising about […]
Goldman: “Too Furious Ferrous Rally”
Goldman: “Too Furious Ferrous Rally” China’s recent monetary and fiscal bazooka will likely fall short of the policy prescription needed to rid the world’s second-largest economy of deflationary risks. The real estate crisis remains unresolved, and iron ore markets are trending lower after a brief spike in late September when Beijing initially announced stimulus. Just as the iron ore […]
US Durable Goods Orders Revised Lower… Again!
US Durable Goods Orders Revised Lower… Again! Preliminary data for October shows that headline US durable goods orders fell 0.8% MoM (slightly better than the -1.0% MoM expected), leaving orders down 2.9% YoY… Source: Bloomberg Core orders (ex-Transportation) rose 0-.4% MoM (-0.1% exp) Orders placed with US factories for business equipment declined in preliminary October […]