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Money & The Economy

News on Finance, Money, markets and the economy

Private Sector Employment Increased by 178,000 Jobs in May

Private sector employment increased by 178,000 jobs from April to May according to the May ADP National Employment Report®.  Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics.  The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment ...

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U.S. Technology Exports Totaled $322 Billion in 2017, Supported 800,000+ Jobs

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Exports of U.S. technology industry products and services grew by nearly $10 billion in 2017, to an estimated $322 billion, according to a new analysis released today by CompTIA, the world’s leading technology association. The “CompTIA Tech Trade Snapshot” also reveals that tech exports directly supported an estimated 805,000 jobs in 2016, the most recent year of available data. That’s nearly 14 percent of ...

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Report: Credit Unions have best fee structures

Credit cards

A report was released today that compared the fees of a representative sample of 200 credit cards that are in Americans’ wallets. Although every card included in the CompareCards by LendingTree study had at least one fee, there remains a wide variance among credit cards in the types of fees card issuers impose on customers. The representative sample of 200 cards approximates the card ...

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Home prices continue to rise

Home for sale

Data released today for March 2018 shows that home prices continued their rise across the country over the last 12 months according to S&P CoreLogic Case-Shiller Indices. “The home price increases continue with the National Index rising at 6.5% per year,” says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. “Seattle continues to report the ...

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Consumer Confidence up in May

economy going up

Consumer confidence, as measured by The Conference Board Consumer Confidence Index, increased in May, following a modest decline in April (after a downward revision). The Index now stands at 128.0 (1985=100), up from 125.6 in April. The Present Situation Index increased from 157.5 to 161.7, while the Expectations Index improved from 104.3 last month to 105.6 this month. The monthly Consumer Confidence ...

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An Oil Company Just Earned A Huge Settlement After Environmentalists Brought False Charges

  by Tim Pearce The Supreme Court of Gibraltar awarded the oil company Chevron $38 million Friday for damages related to charges alleging the company contaminated the Amazon region of Ecuador. An Ecuador court issued an $18 billion judgment against Chevron in February 2011 for environmental and social harm the company allegedly caused to the Amazon. The amount was later reduced to ...

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Smoking cessation: $22 billion market at a crossroads

Public health issues are so complex that they do not lend themselves to simplification. Nonetheless, the stakes are clear: it’s all about saving lives. That is the case in the fight against smoking, which is now at a crossroads. The only way to understand current policies in the fight against smoking is by analyzing the history of this public health ...

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U.S. Auto Sales Forecast To Climb More Than 3 Percent In May 2018

Ford car lot auto dealership car sales

U.S. new-vehicle sales in May 2018 are expected to increase 3.1 percent compared to May 2017, according to a forecast released today by Cox Automotive. The seasonally adjusted annual rate (SAAR), projected at 16.6 million for this month, is expected to fall to its lowest level since August 2017. The forecast 16.6 million SAAR is down slightly from the 16.7 million level in May 2017, ...

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Houston is top relocation destination for 9th consecutive year

Houston is the No. 1 U.S. Destination City according to the latest U-Haul migration trends report, continuing its run atop the list for the ninth consecutive year with two other Texas cities in the top 10. Houston saw a 5 percent year-over-year increase in one-way U-Haul truck arrivals in 2017 to maintain its status as the busiest locale for incoming traffic ...

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Trump Admin Launches Investigation Into Foreign Car Imports That May Have ‘Eroded’ US Industry

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  by Vandana Rambaran The Trump administration announced Wednesday that it will launch a national security investigation into car and truck imports that could result in new U.S. tariffs on vehicles from Europe, Japan, and South Korea. “There is evidence suggesting that, for decades, imports from abroad have eroded our domestic auto industry,” Commerce Secretary Wilbur Ross said in a statement ...

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Existing-Home Sales Slide 2.5 Percent in April

After moving upward for two straight months, existing-home sales retreated in April on both a monthly and annualized basis, according to the National Association of Realtors. All four major regions saw no gain in sales activity last month. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 2.5 percent to a seasonally adjusted annual ...

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First-Time Homebuyers Pull Back For The First Time Since 2014

Home for sale

A new report released Thursday shows that first-time homebuyers bought fewer homes than the previous year for the first time since 2014. The report from Genworth Mortgage Insurance, an operating segment of Genworth Financial, Inc. (NYSE: GNW), says that the number of loans for owner-occupied homes dropped 2% from a year ago. “This quarter’s decline in first-time homebuyer sales reflects ...

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Strong Demand Pushes Up New York City Rents Ahead of Peak Rental Season

Ahead of peak rental season, apartment shoppers can expect to see slightly higher rent prices than last year, particularly in areas with lower-priced homes, according to StreetEasy’s April 2018 Market Reportsi. However, those searching for rentals at higher price points and in areas of the city with large quantities of new development are likely to have greater negotiating power. In Manhattan, rents increased in ...

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Hormel Foods Announces Record Second Quarter Results And Reaffirms Full Year Guidance

Hormel Foods Corporation (NYSE: HRL), a leading global branded food company, today reported results for the second quarter of fiscal 2018. All comparisons are to the second quarter of fiscal 2017 unless otherwise noted. EXECUTIVE SUMMARY Record diluted earnings per share of $0.44, up 13% from 2017 EPS of $0.39 Fiscal 2018 earnings guidance reaffirmed at $1.81 to $1.95 per share Record net sales of $2.3 billion, ...

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Trump Effect: The US Overtakes Hong Kong at First Place Among World’s Most Competitive Economies

U.S. now number one more competitive economy 2018

The 2018 IMD World Competitiveness Rankings emphasize a long-term trend highlighted in past editions – that the countries on the top of the list each have a unique approach to becoming competitive.   The top five most competitive economies remain the same as the previous year but their order changes. The United States returns to #1, followed by Hong Kong, Singapore, the Netherlands and Switzerland. The return of the United ...

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