Author: theparknews

Wholesale prices rose more than expected in November, further strengthening signs of continued inflation. The Producer Price Index (PPI), which tracks price changes seen by businesses, rose 3% year over year, up from 2.4% in October and 2.6% as expected by economists, according to a Thursday report from the Bureau of Labor Statistics. exceeded the rise. . This marked the highest year-over-year increase since February 2023. On a monthly basis, prices rose 0.4% compared to a 0.2% rise in October. “Core” prices, which exclude food and energy, rose 3.4% from a year earlier, exceeding the 3.1% rise in October. Economists…

The Fed is likely on track to cut interest rates again next week after new inflation readings line up with Wall Street expectations, but some central bank watchers believe the Fed will continue to do so due to stubborn upward price pressures. We believe this suggests a more cautious approach towards 2025. “I think inflation will slow down” in 2025 as inflation continues to show signs of persistence, former Cleveland Fed President Loretta Mester told Yahoo Finance. The former Fed policymaker still expects a rate cut next week, but added that his prior prediction of four cuts next year “needs…

New inflation data released Wednesday showed consumer prices rose as expected in November, keeping the US Federal Reserve on track to cut interest rates again in December. The Consumer Price Index (CPI) rose 2.7% year over year in November, up slightly from October’s 2.6% annual rise, according to the latest data from the U.S. Bureau of Labor Statistics. The annual increase was in line with economists’ expectations. The index rose 0.3% from the previous month, exceeding October’s 0.2% rise and in line with economists’ expectations. This was the biggest monthly increase since April, following a 0.2% rise in the previous…

Shares of Google (GOOG) soared more than 5% on Tuesday after the company unveiled a revolutionary new chip for quantum computing. Quantum computing is an emerging technology that is expected to eventually replace traditional computing. In a blog post on Monday, Google said that a quantum computer powered by its new Willow chip could solve a mathematical equation that would take a traditional supercomputer 10 years, longer than the entire history of the universe, in just five minutes. He said he could. Google says the chip eliminates a major bottleneck in the quantum computing field. Unlike traditional computers, which use…

Faith in the path ahead. After months of contraction, the industrial sector is regaining confidence heading into 2025. “Cautious optimism is where we are today,” Goldman Sachs analyst Joe Ritchie said at the Goldman Sachs Industrials and Materials Conference last week. “Some companies are expecting further growth in 2025… It’s only a matter of time before that happens. It will be applied at some point in 2025.” According to recent data from the Institute for Supply Management (ISM), the industry has contracted for the past eight consecutive months and 24 of the past 25 months. The prolonged recession is weighing…

It’s been a long and tough road for many in the cryptocurrency world, but it’s finally happened. Bitcoin price crossed the $100,000 mark for the first time. In addition to making Bitcoin holders very happy given the digital currency has rallied more than 50% in the past two months, the milestone reached on Wednesday provides some validation that the digital asset is here to stay. I did. Ether (ETH=F), XRP (XRP-USD), and crypto-related stocks rise due to President-elect Donald Trump’s pledge to deregulate cryptocurrencies and the appointment of Paul Atkins as chairman of the Securities and Exchange Commission. This spurred…

Donald Trump’s recent tariff threats appear to be due, at least in part, to blockchain-based new entrants into the world of influential global financial messaging. The president-elect’s move was made public in a post Saturday afternoon in which he pledged to impose 100% tariffs on countries seeking to leave the dollar. “Any country that tries should say goodbye to America,” he wrote. The target was an organization called BRICS, which currently includes 10 countries and is led by China and Russia, enemies of the West. One new product appears to be a major stumbling block. “The immediate cause of President…

Billionaire Elon Musk, a key adviser to the incoming Trump administration, has set his sights on regulators that have often clashed with Silicon Valley investors seeking to enter the banking sector, calling for the abolition of the Consumer Financial Protection Bureau. I asked for it. “Delete the CFPB. Too many overlapping regulators,” Tesla’s CEO posted on his social media platform X shortly after midnight Wednesday. The comments came after Marc Andreessen, a well-known venture capitalist and Trump supporter, appeared on Joe Rogan’s podcast and said that the agency is “terrifying financial institutions” and “starting new companies trying to compete with…

Tesla stock (TSLA) fell on Monday after a strong recent rally, as one Wall Street bank said “animal spirits” were driving up the stock price beyond “fundamental changes” in the company. Joseph Spak of UBS noted that Tesla stock has risen about 40% since the election, adding more than $350 million in market capitalization. While some of President-elect Donald Trump’s policy proposals could benefit Tesla, there are also downsides to the policy that could hurt fundamentals more than the theoretical upside that would have pushed the stock higher. There are several. “The rise in Tesla stock is primarily driven by…

Only 30% of family businesses continue into the second generation. One reason for this is that nearly half of executives who expect to retire within five years have no successor. Used clothing retailer Buffalo Exchange bucked that trend in 2024 when Rebecca Block became CEO. Brock’s parents, Kirstin and Spencer, started the business with a single store in Tucson, Arizona, in 1974, when the used clothing market was still in its infancy. “Over the past 50 years, the whole concept of recycling and used clothing has changed a lot,” Block told Yahoo Finance. “People don’t see second-hand clothing as a…