The housing market is facing significant challenges according to Bank of America economists. They do not foresee a quick recovery in the housing sector and believe that affordability will not improve unless a recession occurs. The bank points out various factors that are working against a substantial increase in sales and a decrease in prices
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The U.S. auto industry has seen a 2.9% increase in sales during the first half of the year compared to the previous year. However, concerns are rising about the sustainability of this growth for the rest of the year. Factors such as growing vehicle inventory levels, increasing incentives, and uncertainties surrounding the economy, interest rates,
In the realm of economic news, the South African rand experienced a slight rebound in early trading on Tuesday. This resurgence comes amidst reports from local media outlets indicating progress in negotiations over cabinet positions between the African National Congress (ANC) and the Democratic Alliance (DA) – the two biggest parties in the unity government.
In the realm of cryptocurrency, political meme coins have been gaining significant traction, with former President Donald Trump leading the pack over his rival, Joe Biden. These tokens, known as “PolitiFi” coins, have seen a surge in volume and value as the upcoming U.S. presidential election approaches. While the market for these tokens is relatively
Recently, California Gov. Gavin Newsom and lawmakers came to a budget agreement that aims to address multi-year deficits by cutting $16 billion and declaring a statewide fiscal emergency to tap into reserves. This deal follows Newsom’s initial budget revision in May, which proposed a fiscal structure to balance the budget in 2024-25 and 2025-26 based
As we enter the second half of the year, fixed-income investors may need to reevaluate their portfolio strategies based on the current market conditions. While the Federal Reserve has kept interest rates steady so far, there are expectations of rate cuts in the near future. This article will delve into potential tweaks that investors can
The demand for renewable energy in the United States is on the rise, driven by the growing electricity needs of corporate giants, especially in the tech industry. According to UBS, the retirement of coal plants and the increasing corporate commitment to clean energy have created a significant opportunity for renewable energy sources. By 2030, an
The retail industry is constantly evolving, with companies looking for new ways to attract customers and drive sales. Target, the Minneapolis-based retail giant, recently announced a partnership with Shopify to bring new and trendier brands to its online marketplace. This move is part of Target’s strategy to expand its digital presence and appeal to a
The U.S. dollar has been experiencing some fluctuations in the foreign exchange market recently. Despite reaching a near eight-week high last week, the Dollar Index traded 0.2% lower at 105.235. This comes after the release of stronger-than-expected PMI readings, which boosted the U.S. currency. However, traders have taken some profits at the beginning of the
The recent downward trend in Bitcoin price can be attributed to the significant decrease in mining revenue. Following the reward halving that took place on the Bitcoin network in April, cryptocurrency miners experienced a 50% reduction in their income. This led to many mining companies having to sell off their Bitcoin holdings to cover their