The current artificial intelligence (AI)-driven market correction could impact the dollar’s status as a haven asset, Deutsche Bank’s global head of FX strategy, George Saravelos, said in a Friday (Oct. 30) note to clients, Bloomberg reported. This view is supported by recent times when both tech stocks...
Inflation absorbed almost all of United States consumers’ September spending increase, leaving households paying more for barely any additional goods and services. The monthly result complicates the stronger growth picture in the third-quarter GDP estimate that the Bureau of Economic Analysis announced Thursday (Oct. 29)....
The nation’s real gross domestic product growth accelerated in the third quarter, driven by gross private domestic investment, including information processing equipment, according to a data released Thursday (Oct. 29) by the Bureau of Economic Analysis (BEA). Real GDP grew at an annual rate of...
Kalshi CEO Tarek Mansour is looking for new ways to protect consumers losing money on the prediction markets platform, Bloomberg reported Wednesday (Oct. 28). “Irresponsible users is a real worry for any of these types of products,” Mansour said in an interview with Emily Chang...
Consumer confidence rose to its highest level since June as the price of gas eased in October, The Conference Board said in a Tuesday (Oct. 27) press release. This change was indicated by a 7.5-point increase in The Conference Board’s Consumer Confidence Index, which rose...
October’s consumer sentiment reading has essentially kept pace with September, though consumers’ long-term views are less optimistic. Data from the University of Michigan Survey of Consumers released Friday (Oct. 23) showed October’s reading at a revised 48.0, up from an initial 46.3 and in keeping...
Kalshi is reportedly readying the launch of a futures market tracking inflation metrics. The company, known primarily for its prediction markets, is aiming to launch the new exchange-traded futures offering in December, Bloomberg News reported Friday (Oct. 23), citing sources familiar with the matter. The...
American Express is cutting management layers and expanding artificial intelligence across customer service and commerce, with rules governing how outside agents reach customers’ accounts and benefits. According to a Friday (Oct. 23) third-quarter earnings presentation and management commentary on an earnings call, the company expects...
There were 6,000 fewer initial claims for unemployment last week than the previous week, with multiple media reports saying the labor market remains about as steady as it has been since the 1960s. There were 194,000 initial claims for unemployment insurance during the week ended...