What is the latest US economic news?
Asked 8 days ago
Answer
US economic news highlights a major stock market swing driven by tech volatility, with Nvidia's strong earnings failing to ease concerns about AI profitability and broader market risks. Inflation for consumer goods remains mild, but consumer confidence is near record lows and retail sales have dipped. Nvidia's Q3 revenue beat expectations, but uncertainties persist regarding future Federal Reserve actions and missing government data.
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Tips to stretch your dollar this holiday season
- Inflation for consumer goods producers was mild in September. 23s
- Consumer confidence is near a record low and retail sales declined slightly. 38s
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- Use budgeting apps and price alerts to track spending and catch sales. 2m 3s
References
Recent economic data shows mild inflation for companies producing consumer goods, but consumer confidence is near a record low and retail sales have slightly declined, raising concerns about spending trends as the holiday season approaches.
Nvidia reported strong numbers, but the results did not justify the massive rally in its stock price, leading to the biggest single-day U.S. stock market swing since April. Ongoing uncertainties include company valuations, declining capital expenditures, mixed jobs data, and doubts about future Federal Reserve rate cuts.
Nvidia's latest earnings report exceeded Wall Street expectations with $57 billion in Q3 revenue, but investors remain concerned about a potential AI bubble. The Federal Reserve's upcoming decisions may be affected by missing government data due to a recent shutdown.