MixedTimes - John Carney
GameStop Jumps Another 90%
By John Carney |
Share of GameStop leveled up again Tuesday, rising more than 90% to a record high of $147.98. The meteoric rise of the video game company has been fueled by enthusiasm for the shares by day traders and denizens of a
Consumer Confidence Ticked Up in January
By John Carney |
Consumers' assessments of current conditions ticked down but expectations improved.
LOL Markets: Blackberry Shares Jump 28%
By John Carney |
The company says it has no idea why its shares are surging.
Texas Manufacturing Growth Slows Sharply
By John Carney |
The Dallas Fed's survey registered the eigth consecutive month of growth in January but the pace of expansion slowed significantly.
Senate Panel Unanimously Approves Yellen Nomination to Treasury
By John Carney |
Republicans could not muster one vote against Yellen in the Senate Finance Committee.
Single Family Home Building Boom Hits Longest Streak in 50 Years
By John Carney |
Single-family home construction is up 28 percent compared with a year ago.
Jobless Claims Dip 26,000 But Remain Extremely Elevated at 900,000
By John Carney |
Nearly 2 million people came off the unemployment rolls as the year started, largely because their benefits ran out.
Covid Winner: Morgan Stanley Profits Rise 48%
By John Carney |
Wall Street had a very good year in 2020.
Biden Plans to Extend Student Loan Holiday Until October 1
By John Carney |
The latest suspenion will extend the coronavirus student loan holiday to 18 months.
Masters of the Universe Rejoice: Netflix and Big Tech Lead Stock To Record Highs on Inauguration Day
By John Carney |
Big tech, digital media, automakers, and home builders rise while financials decline on inauguration day.
Carney: In Janet Yellen's Nomination, A Break from the Past
By John Carney |
Janet Yellen's nomination marks a break with historical norms, even though few in Washington, D.C. seem to have noticed.
Yellen Breezes Through Confirmation Hearing, Largely Unchallenged by Republicans
By John Carney |
A stark contrast with the bitter, partisan, bruising hearings Trump's nominee faced four years ago.
Covid Winner: Goldman Sachs' Trading Revenue Hits 10-Year High
By John Carney |
Compensation at Goldman Sachs jumped 8% in a year when millions of Americans lost their jobs and the economy contracted.
Biden Names Ex-Goldman Sachs Banker Turned Wall Street Foe Gary Gensler to Head SEC
By John Carney |
Gensler sought to rein in the derivatives business but was largely thwarted by Wall Street.
Carney: A Year of Pains and Gains For America's Retailers
By John Carney |
The surprising truth about which retailers thrived and which were crushed during the pandemic year.
Retail Sales Unexpectedly Crashed in December
By John Carney |
Sales in U.S. stores fell far more than economists had expected.
Joe Biden Unveils $1.9 Trillion Spending Plan
By John Carney |
Biden asks for money for state and local governments rather than direct stimulus payments or programs to fight the pandemic.
Carney: Powell's Remarks Show That Trump Won the Monetary Policy Fight
By John Carney |
Trump was lambasted for criticizing the Fed. But as he leaves office, it's clear Trump won his fight over monetary policy.
Jobless Claims Jump to 965,000, Much Worse Than Expected
By John Carney |
That is far above expectations for 800,000 claims.
Nike Says It Will Cut Off Funding to Republicans Who Voted Against Certifying Election
By John Carney |
The company's political spending already overwhelmingly supported Democratic candidates.
Restaurant and Hotel Workers Hit with Devastating Layoffs in November
By John Carney |
With the exception of March and April of this year, Novembr is the worst month on record for layoffs in hotels and restaurants.
Job Openings Fell in November as Election and Pandemic Weighed on Labor Market
By John Carney |
Restaurants, bars, and hotels led the way as the labor market weakened in November.
Small Business Optimism Unexpectedly Collapsed in December
By John Carney |
A historically very large drop in optimism as businesses lost confidence in the 2021 economy.
Report: Facebook Joins Political Spending Freeze Campaign
By John Carney |
Big businesses are flexing their political muscles by freezing contributions.
Wall Street Banks Freeze Political Donations After Capitol Hill Riots, Threaten Pro-Trump Politicians with Blacklisting
By John Carney |
Banks threaten to blacklist politicians who challenged Joe Biden's certification last week.
Stock Close Crazy First Week of 2021 At All-Time Highs
By John Carney |
The major indexes closed at all-time highs on Friday and show solid gains for the new year.
Stimulus Stymied? Manchin's Office Walks Back Opposition to Another Round of Payments
By John Carney |
Stocks turned negative after Manchin dismissed the idea of supporting another round of stimulus payments.
U.S. Economy Lost 140,000 Jobs in December, Unemployment Unchanged at 6.7%
By John Carney |
Economists had forecast an addition of 50,000 jobs and a slight rise in the unemployment rate to 6.8 percent.
Stocks Rise to Record Highs in Aftermath of Capitol Riots
By John Carney |
Nasdaq, Dow, and S&P 500 all hit new records Thursday.
Jobless Claims Stalled at 787,000
By John Carney |
The post-election resurgence in layoffs amid renewed lockdowns continues.
NYSE Says China Telecom Delisting Is Back On
By John Carney |
Just two days after saying it wouldn't delist the companies, the NYSE has gone back to the original plan to throw Chinese telecoms off the exchange.
ADP Posts Surprise December Disaster Decline in Private Payrolls
By John Carney |
Big businesses shrank payrolls the most in December, according to a report from ADP.
V-Shaped Recovery: Manufacturing Defies Expectations as Rebound Continues Despite Covid Surge
By John Carney |
The best reading in nearly two-and-a-half years.
China Rising: NYSE Withdraws Plans to Delist 3 Chinese Telcos
By John Carney |
"With Trump's days in the White House coming to an end, the deep state panda huggers are feeling empowered once again," said one former administration official.
Stocks Fall on First Day of Trading in 2021
By John Carney |
Investors sold off a broad range of stocks to begin 2021.
October's Durable Goods Manufacturing Growth Was More Impressive Than We Thought
By John Carney |
And the post-election decline was even more severe than expected.
Home Buying Boom Lost Steam in November As Sales Unexpectedly Fell To Slowest Pace Since June
By John Carney |
The homebuying boom of 2020 appears to have lost some steam in November. Sales of newly built homes fell sharply in November to a seasonally adjusted annual rate of 841,000, according to data released by the Census Bureau Wednesday.
Consumer Sentiment Tumbled in Late December
By John Carney |
The rise in infections and deaths, and the return of lockdowns, hurt sentiment as the final month of 2020 stretched on
Dark Winter: Household Spending Drops For First Time in Seven Months
By John Carney |
Household spending and incomes were down by much more than expected in November, indicating a weakening economy.
Jobless Claims Top 800,000 For Third Straight Week
By John Carney |
Jobless claims came in better than expected but still at an extremely elevated level.
Flight from the Cities: Supply of Existing Homes for Sale Hits Record Low
By John Carney |
The surge in home buying has run into a dearth of supply as buyers swamp sellers and snap up homes at record pace.
Consumer Confidence Unexpectedly Slumps for Second Straight Month
By John Carney |
A sharp deterioration in the assessment of current conditions dragged the confidence index down for a second straight month.
Historic Rebound in U.S. GDP Revised Higher
By John Carney |
The U.S. economy has proved much more resilient than forecasters expected.
Carney: Congress Should Not Have Cut Stimulus Payments
By John Carney |
Getting money out to the American people was one of the most prudent things Congress did to stave off economic disaster when the pandemic took hold this spring.
Stimulus Talks Stall On GOP Push To Limit Fed Emergency Lending Programs
By John Carney |
Ending the Fed facilities could be the key to funding a second round of stimulus checks.
Carney: Larry Fink's Blackrock Doubles Down on Woke Capitalism
By John Carney |
The retirement savings and investment accounts of millions of Americans are being used to pressure corporate Americans into adopting the left's climate agenda and divisive racial politics.
Carney: Biden's Massive Tax Hikes Inevitable if Democrats Win Georgia Senate Races
By John Carney |
Joe Biden plans massive tax hikes that could hit nearly every American, but Democrats needs to win both Georgia Senate runoff races to enact Biden's ambitious money-grab.
Housing Starts Surge Higher For Third Straight Month
By John Carney |
Surging demand for houses has triggered a home building boom.
Jobless Claims Unexpectedly Jump Higher Again
By John Carney |
More bad news for the labor market.
Fed Admits It Underestimated The Trump Covid Economic Recovery
By John Carney |
The Fed's new projections indicate that the central bankers underestimated how quickly the economy would recover in the second half of this year.
The Poverty Rate is Rising Rapidly But Still Low by Historical Standards
By John Carney |
Expanded unemployment benefits and stimulus payments pushed poverty down to record lows earlier this year but now that is reversing.
Retail Sales Slump as Covid and Lockdowns Hit Holiday Shopping
By John Carney |
A much deeper decline than expected suggests a bleak start to holiday shopping.
New York Manufacturing Survey Disappoints Again
By John Carney |
Business activity increased slightly in New York in early December.
Dow Swings to Loss in 450 Point Reversal on Lockdown Fears
By John Carney |
Many tech stocks rose while airlines, hotels, and other reopening stocks fell on Monday.
Partisan Euphoria By Democrats Drives Consumer Sentiment Higher
By John Carney |
Democrats are feeling much better about the long-term future following the election.
U.S. Household Net Worth Hit Record High in Third Quarter
By John Carney |
Stocks and real estate pushed up the asset values of American households in the July through September period.
Crash in Apparel Prices Shows How The Covid Pandemic Is Changing America
By John Carney |
The price of men's suits have fallen by more than 20% compared with a year ago.
Jobless Claims Jump to 853,000, Far Worse than Expected
By John Carney |
Economists had forecast 724,000.
Carney: Supreme Court Gives Little Comfort to Fannie-Freddie Investors
By John Carney |
Shares of Fannie Mae and Freddie Mac jumped higher Wednesday as arguments kicked off at the U.S. Supreme Court in a lawsuit brought by shareholders over hundreds of billions of dollars in payments made to the U.S.
Manufacturing Job Openings Hit Record High in October
By John Carney |
The latest sign that the economy was stronger than many thought in the months leading up to the 2020 election.
Productivity Gains Highlight Churn of Pandemic Economy
By John Carney |
Manufacturing sector labor productivity increased at a 19.9 percent as the economy rebounded from the lockdowns
Small Business Optimism Sinks in Election's Aftermath and Return of Lockdowns
By John Carney |
No Biden bounce from small business owners.
China Trade Surplus Sets Record High as World Reels From Pandemic
By John Carney |
China's economy is set to grow for the year while the rest of the world's industrialized economies are expected to shrink.
Restaurants and Bars Slashed Jobs in November
By John Carney |
The lockdowns, capacity limits, and curtailed business hours have already started taking a toll on employment.
Carney: The Retail Jobs Numbers Were Not As Bad As They Looked
By John Carney |
If you take away the seasonal adjustment, employment grew in the retail sector in November.
Disaster Jobs Report: U.S. Economy Added Just 245,000 Jobs in November
By John Carney |
Less than half of what economists had forecast.
Services Sector Gauge Falls to Six Month Low in November
By John Carney |
Lockdowns, the surging virus, and the 2020 election results weigh on the economy.
U.S. Weekly Jobless Claims Fall to 712,000
By John Carney |
Jobless claims fell by 75,000 in the holiday week, breaking the two week long streak of rising claims.
Report: Gary Cohn Stiff Arms Goldman Sachs over Fraud Clawbacks
By John Carney |
Gary Cohn is the lone holdout among former top Goldman Sachs executives who have been asked to return compensation after the firm paid enormous fines related to fraud charges over a Malaysian investment fund, according to a report from Bloomberg News.
Homebuyer Demand For Mortgages Jumps 28% Over Last Year
By John Carney |
A huge surge in homebuying is feeding demand for purchase mortgages.
Business Hiring Unexpectedly Slowed in November, ADP Says
By John Carney |
Private payroll growth came in much weaker than expected for November.
Flight from the Cities: Single Family Home Construction Jumps 5.6% in October
By John Carney |
U.S. construction spending jumped by more than expected in October, driven higher by demand for single family homes.
Nasdaq Wants to Require Racial and Sex Identity Diversity Quotas for Corporate Boards
By John Carney |
Company boards would be required to have at least one woman and one member of a preferred racial or sexual identity group.
Texas Factory Activity Slowed Sharply in November
By John Carney |
Growth continued for the sixth straight month but the pace slackened in November.
Janet Yellen Promises to 'Restore the American Dream'
By John Carney |
Yellen described the American dream as "a society where each person can rise to their potential and dream even bigger for their children."
Pending Home Sales Unexpectedly Fall as Shortage of Homes Pushes Up Prices
By John Carney |
Home prices are up 16 percent across the country as the supply of homes for sale dwindles and prices soar.
Carney: Retailers Struggle to Survive Through Black Friday in Coronavirus America
By John Carney |
Black Friday appears to be calm but not catastrophically slow across much of the United States.
Robert Reich Says It's 'Trump's Fault You Can't See Your Family'
By John Carney |
Reich claimed, without evidence, that the U.S. would have had coronavirus under control if not for Republican leaders.
Consumer Spending Still Rising Even As Incomes Falter
By John Carney |
Consumer spending and private sector wages rose even as income declined as government support ran dry.
Consumer Expectations Crashed in November Despite Vaccine News
By John Carney |
Despite positive news on vaccines and record-highs for stocks, the outlook got darker in November.
Flight From the Cities: New Home Sales Up 41.5%
By John Carney |
New single-family houses sold in October at a seasonally adjusted annual rate of 999,000.
U.S. Weekly Jobless Claims Jump to 778,000
By John Carney |
Worse than expected.
U.S. Consumer Confidence Slumps as Hope Fades
By John Carney |
The prospects of lockdowns and a likely Biden presidency has dimmed the outlook of U.S. consumers.
Dow Tops 30,000 For First Time Ever
By John Carney |
The vaccine rally powered stocks higher on Tuesday.
Trump Announces Groundbreaking Rules to Lower Prescription Drug Prices
By John Carney |
One of the rules will force drug companies to treat the U.S. as a "most favored nation," guaranteeing Americans lowest drug prices around the globe
JPMorgan Economists Forecast 'Grim' Double-Dip Contraction in First Quarter 2021
By John Carney |
JPMorgan economists said Friday that they expect the economy to contract slightly in the first quarter of next year.
Carney: Surprise! Democrats Say Stimulus Talks Are Back On
By John Carney |
They blocked a bill before Election Day but now Democrats are once again back at the stimulus negotiation table.
Manufacturing Slows in Kansas City Fed District
By John Carney |
Politics and pandemic are weighing down Midwest manufacturing.
Flight from the Cities: Existing Home Sales Unexpectedly Soar, Hit Highest Level Since 2006
By John Carney |
U.S. home sales increased for a fifth straight month in October, far exceeding expectations and hitting the fastest pace of sales in 14 years.
U.S. Weekly Jobless Claims Jump to 742,000, Worse Than Expected
By John Carney |
Economists had expected jobless claims to inch up to 710,000.
Bill de Blasio Shuts Down New York City Schools Again
By John Carney |
The nation's largest school system just ended—at least for now—its three-month-long attempt to provide some in-school instruction to students.
U.S. Housing Starts Jump Amid Flight to Suburban Homes
By John Carney |
Single family home building continues to boom.
Senator Chuck Grassley Tests Positive for Coronavirus
By John Carney |
Senator Chuck Grassley said Tuesday that he had tested positive for coronavirus.
Judy Shelton's Fed Nomination Fails Key Senate Procedural Vote
By John Carney |
A vote in the Senate fell short of winning enough support to move her nomination forward.
October Sees Strong Rebound in Industrial Output
By John Carney |
A better than expected rebound for U.S. factory output led industrial output higher in October.
Carney: Asian Trade Deal Shows Biden's China Policy Is Already Failing
By John Carney |
China and 14 other Asia-Pacific countries signed a mammoth trade agreement covering one-third of global GDP on Sunday — a move that extinguishes any hope for the viability of former Vice President Joe Biden's China trade policy.
Empire State Manufacturing Misses Expectations, Indicating Slower Growth
By John Carney |
A survey of business conditions taken while infections surged and election day occurred indicates slower growth.
Consumer Sentiment Unexpectedly Falls as Hope Fades Following Election
By John Carney |
A big decline in expectations about our economic prospects followed the 2020 election and the rise in covid cases.
Producer Price Index Shows Very Low Inflation
By John Carney |
A bit above expectations but still a signal that there is very little inflation in the U.S. economy.
Carney: Zeroflation Is Here, Consumer Prices Go Nowhere
By John Carney |
Despite a record-high federal budget deficit and unprecedented levels of liquidity provided by the Federal Reserve, inflation is dead.