U.S. Consumer Confidence Is Plunging – But More Pain Is Coming

The Conference Board’s gauge of U.S. consumer confidence plunged from 132.6 to 120 in March, while economists expected a 110 number. Confidence is likely to decline further in the coming months. It will probably take a long time before consumers start spending like before the crisis. The Conference Board said Tuesday its consumer confidence index …

Atlanta Fed’s Q1 GDP Forecast Is Almost as Laughable as the Fed Itself

The Atlanta Fed’s GDP Tracker is projecting annual growth of 2.7% in the first quarter despite the onset of coronavirus. If the forecast holds, it would mark the highest rate of expansion for the U.S. economy since Q1 2019. Fed prognosticators are notoriously bad at predicting the future. Their glaring coronavirus omission is laughable. The …

The U.S. Yield Curve Tells Us That a Devastating Recession Is Unavoidable

U.S. government debt yields have risen over the past two months, correcting a frightful inversion between the 2-year and 10-year Treasury notes that sparked concerns of an imminent recession. Just because the so-called ‘recession indicator’ is correcting itself, don’t be fooled into thinking the dangers have gone away. As a matter of fact, the Treasury …

Trump’s ‘Talk of the World’ American Steel Industry in a Major Slump; U.S. Steel (X) Plunges 12% – CCN.com

On the campaign trail, President Donald Trump pledged to revive the U.S. steel industry. At different times last year and this year, Trump has claimed that he had managed to do just that through the imposition of tariffs on steel imports. The reality, however, is now beginning to look different with various U.S. steel companies, …

Recession No More? Bond-Market Selloff Pushes Treasury Yields to Six-Week High – CCN.com

U.S. bond markets extended their slide on Friday, as investors continued to reevaluate the recession risk. | Image: AFP PHOTO / Stan HONDA U.S. government debt yields continued to rise on Friday, booking their biggest weekly gain in three years on better than expected data, China trade progress and looser monetary policy. Treasury Yields Extend …

Dow Claws Out of Vicious Slide as Beijing Rebukes Trump’s ‘Blackmail’

The Dow risked sliding for a fourth straight day after Beijing rebuked Trump for his unexpected – and market-pummeling – tariff threat. | Source: NICHOLAS KAMM / AFP The Dow’s multi-session nosedive risks extending into a fourth day on Friday after Beijing rebuked President Trump for his $300 billion tariff threat. Dow Scrambles to Avoid …

This Stock Market Lifeline Could Come from a Surprising Place: Australia

By CCN: The U.S. stock market struggled for much of the past month, sending the S&P 500, Dow Jones, and Nasdaq lower amid a rapidly-intensifying U.S.-China trade conflict. However, a growing number of equity strategists expect the Federal Reserve to slash its benchmark interest rate, and the impetus for that policy shift could come from …