DAVOS, Switzerland—Qualcomm Inc CEO Cristiano Amon sees growth for the chip supplier as consumers increasingly want “better phones,” he said in an interview on Wednesday at the World Economic Forum, even as talk about an economic slowdown dominates the event in the Swiss ski town of Davos. “Qualcomm has redefined its mobile strategy to be…
Pending Home Sales Dive as Soaring Prices, High Mortgage Rates Take Toll
May 26, 2022
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Business & EconomyeconomyHouse Priceshousing marketinflationInvestmentMarketspending home salespersonal financeUSUS News
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A measure of U.S. home sales based on signed contracts dropped to a 2-year low in April, the latest in a string of data points suggesting the housing market may be heading into choppier waters. Contracts to buy previously owned homes fell 3.9 percent last month to a reading of 99.3, the National Association of Realtors…
Nvidia Shares Tumble Nearly 10 Percent Amid ‘Slowing’ Video Game Market
May 26, 2022
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Business & EconomyCompanieseconomyInvestmentMarketsMedia & Big TechnvidiastocksTechTech NewsUSUS News
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Shares of chip designer Nvidia tumbled more than 10 percent on Wednesday after the company said it expects sales of video game chips to decline in the current quarter. The American technology company beat analysts’ expectations for sales and earnings, reporting record revenue for the first quarter of $8.29 billion, up 46 percent from a year ago and up 8…
New Business Orders For US Durable Manufactured Goods Slowed in April
New orders for U.S. made durable goods increased less than expected in April, after businesses slowed down their pace of spending on equipment as they deal with rising interest rates and tightening financial conditions, according to a U.S. Census report released by the Commerce Department on May 25. The government report said that durable goods…
Is Health Insurance the Next Real Estate in Terms of Investment?
By Justin Brock Appreciating assets, renewal income, and capital gains tax rates are all hot topics in the investment and entrepreneur space, but most people’s explorations of where to invest to capitalize on them are tired. One wildly undersung option is in the health insurance and associated Medicare sectors, which are on fire because of a…
Inflationary Pressures Cool U.S. Private Sector Expansion: S&P Global
May 25, 2022
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Business & EconomyChinese Communist PartyCompanieseconomyinflationInvestmentMarketsPMI Composite Output indexUSUS Manufacturing
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American business activity slowed down in May as higher prices reduced demand for services, while lockdowns in China and the ongoing conflict in Ukraine caused chaos in the supply chains. S&P Global released its May U.S. Composite PMI Output Index survey on May 24, which tracks the manufacturing and services sector throughout the country. The index fell…
German Consumer Morale Inches Up After Falling to Record Low: GfK
BERLIN—German consumer morale is projected to inch up in June after falling to a record low in May, but high inflation and the war in Ukraine continue to weigh on household spending, a survey showed on Wednesday. The GfK institute said its consumer sentiment index, based on a survey of around 2,000 Germans, rose slightly…
US Recession Fears Mount as Stocks Swoon, but What of Canada?
News Analysis Rapidly rising interest rates have economists, business leaders, and financial markets increasingly fearing a recession in the United States next year as stock markets plunge, while Canada’s economy is facing a similar dynamic but with greater vulnerability to its central bank, an economist says. “There are many recessions in the past that were…
US Stocks Leading the Global Market Selloff
U.S. stocks and funds are leading the world in the widespread selloff across global financial markets. From the Dow Jones Industrial Average to the Nasdaq Composite Index, American equities are recording greater losses than benchmarks in foreign markets and they are being pummeled by other sectors. Year-to-date, the Dow has plunged 12 percent, the S&P…
US Stocks Leading the Global Market Selloff in 2022
U.S. stocks and funds are leading the world in the widespread selloff across global financial markets. From the Dow Jones Industrial Average to the Nasdaq Composite Index, American equities are recording greater losses than benchmarks in foreign markets and they are being pummeled by other sectors. Year-to-date, the Dow has plunged 12 percent, the S&P…
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