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Sweden reports first case outside Africa of the more dangerous mpox strain
Medicare cut deals to lower the list prices of 10 widely used drugs between 38% and 79% during the first round of government price negotiations, the Biden administration has said
Kamala Harris to propose federal ban on 'corporate price-gouging' in food and groceries
U.S initial jobless claims actual: 227k vs 233k previous; est 235k
The number of credit card and auto loans transitioning into serious delinquency is increasing, per the Fed
3 out of 5 Americans think the US is in a recession, per Affirm.
Donald Trump, the Republican presidential nominee, has promised to cut taxes on Social Security, aiming directly at the 67 million Americans who rely on those monthly benefits, per YF. "Seniors should not pay taxes on Social Security, and they won't," he said.
China will have nearly twice the pets than young children by 2030, Goldman Sachs, $GS, has said.
If a home buyer wanted to comfortably afford a house with a median listing price of $440,000 in July, they would need an annual income of $90,000, per MW. Their monthly housing costs would be $2,500, assuming a down payment of 20% and a 30-year rate of 6.3%.
Credit card balances rose 2.4% to a record-high $1.14 trillion in the second quarter of 2024 —a 48% increase since the first quarter of 2021, per the Fed.
Bud Light has not recovered since the conservative boycott, per Bloomberg
Economist and former Treasury Secretary Larry Summers said the Donald Trump's tariff proposals are the biggest supply shock that will likely push up prices of not just imported goods but all goods that compete with those imported, per YF.
Stifel strategist who called this summer pullback sees correction getting to at least double digits, per CNBC.
Donald Trump has said on cryptocurrency: "we don't do it, China's going to do it. Or other people are going to do it. And we can't be left behind. And crypto is right in that sphere and it is a form of currency.”
Delinquency transition rates for credit cards, auto loans, and mortgages increased slightly in the second quater of 2024, per the Fed. Over the last year, approximately 9.1% of credit card balances and 8.0% of auto loan balances transitioned into delinquency.
Startups that raised a Series A round in the first half of 2024 had an average of 15.6 employees, down from 17.6 in the first half of 2021, per Axios.
When the jobless rate rises as much as it has this year (from 3.7% in January to 4.3% in July) it rarely levels off, and more likely signals a tumble into recession, per Axios.
Only 14% of adults have saved $100,000 or more for retirement, per GOBankingRates. 78% of Americans have saved $50,000 or less
Balances on credit cards rose by $27 billion to $1.14 trillion in the second quarter, and auto loan balances increased by $10 billion to $1.63 trillion, per the Fed.
The U.S. may already be in a “plain vanilla recession,” according to Danielle DiMartino Booth, CEO of Quill Intelligence. DiMartino Booth explained how a weakening job market and increasing Chapter 11 bankruptcy filings signal that the U.S. is already in a recession, per CNBC.