Home Depot Inc. beat quarterly sales estimates by nearly $2 billion on Tuesday as Americans, buoyed by a strong housing market, hired more builders and handymen to complete large home improvement projects, boosting demand for tools and materials. Professional contractors have been rushing back to Home Depot’s stores as they look to upgrade their toolkits…
Home Depot Beats Sales Estimates as Home Improvement Spending Holds Strong
November 16, 2021
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Walmart Raises Full-Year Sales, Profit Forecasts as Holidays Start Strong
November 16, 2021
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Walmart Inc. on Tuesday raised its annual sales and profit forecast in anticipation of a surge in demand for toys and apparel during the crucial holiday season, even as global supply chain disruptions hit its margins in the third quarter. Shares of the world’s largest retailer were flat in pre-market trading, reversing earlier gains of…
Shutting Down Economies Amid COVID-19 Will Have ‘Unprecedented’ Negative Effects: Donald Boudreaux
November 16, 2021
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Shutting down huge chunks of the economy and increasing government spending amid the COVID-19 pandemic will have “significant” and maybe even “unprecedented” negative effects on the economy, according to economist Donald J. Boudreaux. Speaking to The Epoch Times at the inaugural conference of the Brownstone Institute in Hartford, Connecticut, on Nov. 13, Boudreaux explained that economists cannot clearly quantify…
Wall Street Opens Lower as Nvidia Weighs
November 16, 2021
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Wall Street indexes opened slightly lower on Tuesday, with Nvidia weighing on the S&P 500 and Nasdaq after the UK ordered an in-depth probe into the chipmaker’s planned acquisition of Arm. The Dow Jones Industrial Average fell 11.27 points, or 0.03 percent, at the open to 36,076.18. The S&P 500 opened lower by 3.38 points,…
Global Investors Ending 2021 ‘Risk-On’: BofA
November 16, 2021
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MILAN—Investors are heading towards the end of the year in a “risk-on” mood, having reduced cash allocations and lifted their overweight position on U.S. stocks to the highest since August 2013, BofA Securities’ monthly fund manager survey showed. Inflation remains the biggest tail risk for markets but a majority of 61 percent believes it is…
Dollar Near 16-Month High Versus Euro Ahead of US Retail Sales Data
November 16, 2021
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LONDON—The dollar held just below a 16-month high versus the euro on Tuesday, while the yuan reached its strongest in more than five months as markets welcomed dialogue between the U.S. President and Chinese leader. U.S. President Joe Biden and Chinese leader Xi Jinping stressed their responsibility to the world to avoid conflict, in talks…
Stock Markets March on as Biden-Xi Talks Lift Sentiment
November 16, 2021
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LONDON—Global stock markets marched on towards new peaks on Tuesday as U.S. President Joe Biden and Chinese leader Xi Jinping held over three hours of virtual talk, helping to nudge China’s yuan to a five-month high and pulling the dollar lower. The closely watched conversation between the leaders of the world’s biggest economies appeared to…
Samsung’s Lee Visits US Ahead of Likely $17 Billion Chip Plant Decision: Media
November 15, 2021
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SEOUL—Samsung Electronics vice chairman Jay Y. Lee is visiting North America in his first high-profile trip after serving jail time for bribery, with a decision imminent on the company’s planned $17 billion U.S. chip plant. Lee left Seoul on Sunday and his trip to Canada and the United States is expected to coincide with a…
Mazda Sees New SUVs Boosting US Sales a Third by Mid-Decade: US Chief
DETROIT—Mazda Motor Corp. expects the rollout of three new sport-utility vehicles, starting with the CX-50 next year, will help the Japanese automaker boost U.S. new-vehicle sales by a third by mid-decade, the company’s North American chief executive said on Monday. The company expects U.S. sales to finish this year “on the order of 330,000,” up…
Goldman Sachs Sees US Core PCE Halving by End of 2022
Goldman Sachs has forecast growth in the U.S. core personal consumption expenditures (PCE) index to nearly halve by the end of 2022, as the U.S. bank expects a surge in commodity prices and supply-chain constraints to ease after causing near-term price spikes. Economists at Goldman Sachs expect the core PCE index—the Federal Reserve’s preferred inflation…
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