Tuesday, July 27

inflation

Economy, Fed, Federal Reserve, inflation, Inflation debate, Inflation Expectations, inflation fears, inflation gauge, inflation outlook, inflation risk, Jerome Powell, Markets, MI Exclusive, Mohamed El-Erian, New cars, semiconductor chips, semiconductor shortage, Used cars

There is a fundamental misunderstanding of inflation and its spread throughout sectors of the economy proves it is not isolated or transitory, Mohamed El-Erian says

Mohamed El-Erian. Rob Kim/Getty Images Mohamed El-Erian said there is a fundamental misunderstanding of inflation because few people have lived through it. "I always laugh when people say, oh, it's isolated, it's transitory," El-Erian told CNBC on Monday. He also disagreed with the Federal Reserve's view that inflation is transitory. Sign up here for our daily newsletter, 10 Things Before the Opening Bell Economist Mohamed El-Erian in an interview Monday took aim at assessments of inflation that describe rising prices as "transitory," stating that there is a fundamental misunderstanding of what inflation is and how it is already spreading throughout the economy. "I always laugh when people say, oh, it's isolated, it's transitory," Allianz's chief economic adviser told CNBC. "I th...
delta variant, Dow Jones, earnings beat, inflation, Markets, MI Exclusive, Q2 earnings, quarterly earnings, s&p 500, S&P 500 forecast, US stocks, Weekend BI UK

The S&P 500 is on track for the best quarterly earnings growth since 2009 as companies smash expectations

LoadingSomething is loading. S&P 500 companies are on track for the best earnings growth since 2009, with companies smashing estimates as the US economy bounces back to life from COVID-19 lockdowns.The strong quarter is helping support stocks despite high equity prices, rising inflation, and the threat of the delta coronavirus variant.Earnings for S&P 500 companies are expected to grow 78.1% year-on-year in the second quarter, according to...
Bitcoin, David Tice, FAANG, gold, inflation, Markets, MI Exclusive, monetary policy, Morand-Tice Capital Management, Stimulus, Stock market bubble, Stocks

Veteran investor David Tice sounds the alarm on’big tech’ stocks and bitcoin-and touts gold and silver miners as better bets

David Tice. CNBC David Tice is bearish on "big tech" stocks and bitcoin as they look expensive to him. The veteran fund manager advised investors to exercise caution in a high-risk market. Tice is bullish on gold and silver miners due to inflation and currency-depreciation fears. See more stories on Insider's business page. "Big tech" stocks and bitcoin are too expensive, while gold and silver are cheap and effective hedges against inflation and a weaker dollar, veteran investor David Tice said in a recent CNBC interview."We have come back a long way from the April lows of 2020 after the COVID-19 scare," the cofounder of Moran Tice Capital Management said. "However, we're not out of the woods yet and this is a dangerous market. "Tice's concerns include the stock market appearing ...
Cadbury, Economy, Frito Lays, General Mills, inflation, Mondelez, Reese's, Retail, Shrinkflation, Walmart

Take a look at how companies hide rising costs by shrinking the size of everyday products, from toilet paper to candy bars

Prices of consumer goods are increasing, from food to household necessities. The term shrinkflation describes brands selling smaller amounts of product for the same price as before. It's a sneaky way for brands to hide growing prices. See more stories on Insider's business page. It's not just you – some grocery products are getting smaller.Ingredients and manufacturing are getting more expensive thanks to inflation, and if they can't cut costs, companies have two main choices – hiking up prices or making their products smaller.Many of these size changes are subtle, like making candy bars sold in multipacks smaller than ones being ...
Dow Jones Industrial Average, inflation, Markets, Markets Wrap, MI Exclusive, nasdaq 100, s&p 500, stock market 2021, stock market news, Stock market news today

Dow slides 300 points to cap off first weekly decline in a month amid inflation worries

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, New York, US, March 3, 2020. Andrew Kelly/Reuters US stocks fell on Friday and recorded their first weekly loss in a month, with stocks dropping about 1% as investor concerns about rising inflation continued to weigh on prospects of an economic recovery.On Thursday, Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen Both expressed concerns at the current pace of rising inflation and expect the trend to continue over the next few months before cooling down as supply chain disruptions are resolved.If inflation doesn't cool off soon, the Fed may be forced to hasten its hawkish policies like rolling back monthly bond purchases and raising interest rates, which could hurt risk assets like s...
10 year yield, Bitcoin, Cardano, crypto, Dogecoin, Ether, Federal Reserve, gold, inflation, Jerome Powell, Lumber, Markets, MI Exclusive, Oil, s&p 500, stock market

US stocks trade mixed as Powell reiterates in testimony that inflation will pass

A trader blows bubble gum during the opening bell at the New York Stock Exchange (NYSE) on August 1, 2019, in New York City. Johannes Eisele/AFP via Getty Images US stocks rallied on Wednesday after Federal Reserve Chairman Jerome Powell reiterated that inflation will pass.The benchmark S&P 500 index scaled close to all-time highs, while the Dow Jones Industrial Average also inched up. The Nasdaq composite fell slightly. The yield on the US 10-year Treasury slipped 6.1 basis points to 1.353%.The Fed chief said the US economic recovery still has further to go before the central bank considers tapering its asset purchases, according to prepared remarks ahead of his House Financial Services Committee testimony. Powell said the US job market "is still a ways off" from the prog...
Bank earnings, Bank of America, Bitcoin, Citigroup, crypto, Earnings, Federa reserve, gold, inflation, Jerome Powel, Markets, MI Exclusive, Oil

US stocks rise as Fed Chair Powell says the US economic recovery still has further to run before tapering

Deutsche Bank said retail investors have been key players in the stock market rally Johannes Eisele/Getty Images US stocks rose Wednesday on comments from Fed chief Jerome Powell that the US recovery still has further to go before the central bank changes course. Bank earnings continued, with Bank of America and Citigroup reporting second-quarter results. Bitcoin and oil slipped, while gold prices rose. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks moved higher on Tuesday after Federal Reserve Chairman Jerome Powell said the US economic recovery still has further to go before the central bank considers tapering its asset purchases.Powell said the US job market "is still a ways off" from the progress the Fed hopes to achieve, suggesting it w...
CPI, Economy, Gas, Groceries, inflation, Prices, Retail, Services, Travel

From sausage to sewing machines, here are the everyday products and services that have gone up the most in price since last year

Prices for American consumers increased 0.9% last month, the largest increase in a decade. Used cars have made headlines, while others, like sewing machines, have caused less of a stir. Products and services in over 45 categories had price increases of more than 5%. See more stories on Insider's business page. Consumer prices are rising, ticking up by 0.9% last month. That's the largest increase in more than a decade, according to the latest US government figures.But that figure is just a summary of the overall price picture for American households — the important stuff is in the details.To see how that top-line number is playing o...
Berkshire Hathaway, Gabelli Funds, inflation, Mario Gabelli, Markets, MI Exclusive, Renewable Energy, Saving, SPAC, Stocks, Warren Buffett

Billionaire investor Mario Gabelli slams stock promoters, touts batteries, and discusses his Berkshire Hathaway bet in a new interview. Here are the 14 best quotes

Mario Gabelli. Thomson Reuters Mario Gabelli questioned SPACs, touted batteries, and slammed pump-and-dump schemes on Twitter. The Gamco Investors chief told young people to work hard, save, and invest. Gabelli reflected on his lucrative Berkshire Hathaway investment in the mid-1980s. See more stories on Insider's business page. Mario Gabelli blasted pump-and-dump schemes on Twitter, warned that special-purpose acquisition vehicles (SPACs) vary greatly in quality, and trumpeted battery technology in a recent RealVision interview.The billionaire fund manager and head of Gamco Investors also reflected on his mistakes, advised young people to save diligently and outwork their rivals, and discussed his lucrative bet on Warren Buffett's Berkshire Hathaway more than 30 years ago. Here ...
Consumer Price Index, Economy, Food, grocery, inflation, Price increases, Restaurants, Retail, Snacks

The price of vending machine food just jumped by a record amount as Pepsi, Coca-Cola, and snack brands hike prices

The price of snack food sold in vending machines in the US was up 2.3% between May and June. This is the biggest single-month cost jump on record, according to Axios. Food shortages, the labor shortages, and supply chain snafus are leading to price hikes. See more stories on Insider's business page. Vending machine food prices soared in June.According to the consumer price index from the Bureau of Labor Statistics, snack food sold in these machines in the US was up 2.3% last month, the biggest single-month cost jump on record, Axios reported. The cost of eating out was up 0.7% overall.Food shortages, wage hikes, and the ongoing la...