Ticket sales for Swift's concerts have been so explosive, one Federal Reserve office said, the pop superstar is helping fuel the national tourism industry.
Travis Kelce looks like he's feeling pretty damn good after his whirlwind trip to Europe with Taylor Swift ... bringing a renewed energy to his music festival.. TMZ.com
Turns out Travis Kelce IS with Taylor Swift in Sweden ... symbolically, anyway, because the singer's flaunting what looks a lot like a hickey on her neck. Can.. TMZ.com
Ready for another week to begin? Enjoy some clips from TMZ's recent shows to get off to the right start. On "TMZ Live," Babcock and Charles discuss Jennifer.. TMZ.com
Taylor Swift's new album helped fuel the highest weekly vinyl sales in 30 years - but is our rediscovered love of owning records environmentally reckless? Sky News
Taylor Swift and Travis Kelce didn't let some bad weather derail their romantic getaway in Lake Como ... flaunting some serious PDA on a boat, where it was just.. TMZ.com
Stock Markets Rally , Amid Investor Hopes for , Interest Rate Cuts in 2024.
On the morning of May 15, both the S&P and the
Nasdaq hit all-time highs after new data suggested
inflation may be easing in line with expectations.
Quartz reports that the Dow Jones Industrial Average
is also inching toward the record-breaking
40,000 mark, which it almost hit in March. .
According to the latest Bureau of Labor
Statistics data, April saw the Consumer Price
Index, a key gauge of inflation, rise by 3.4%.
At the same time, consumer prices
increased by 0.3%, slowing slightly
from March's 0.4% increase.
The latest data also shows that core prices,
which don't include food and energy, saw the lowest
increase since April of 2021, rising just 3.6%. .
As a result, investors have a sense of
renewed hope that the Federal Reserve will
begin to cut interest rates at some point in 2024.
The latest inflation data was released one day
after the Producer Price Index, which
measures wholesale inflation, increased 0.5%. .
Over the past year, the
index has increased 2.2%.
Shortly after markets opened, the Dow
jumped up 147 points, hitting 39,705, while the
S&P 500 and the Nasdaq saw 0.5% increases.
Shares in GameStop were down 30% after
experiencing a boost earlier this week by
the online return of investor "Roaring Kitten."
Credit: Wibbitz Top Stories Duration: 01:30Published
Consumer Outlook , Plunges Amid Fears of , More Price Hikes Ahead.
CNN reports that sentiment about the economy among
consumers in the United States has plummeted
to the lowest level in the past six months.
According to the latest consumer survey by the
University of Michigan, consumers are also bracing
for more price increases in the year ahead. .
The consumer expectations gauge,
which is closely monitored by the White House,
dropped 13%, representing the most significant
single month decline since mid-2021.
The latest news is still better than
last May when inflation was at 4%
compared to the current 3.5% reading.
However, CNN points out that despite inflation
being lower than the same time last year, the numbers
have been moving in the wrong direction.
The trajectory has shifted
economist expectations for
the Federal Reserve to cut rates. .
The latest Fed report saw expectations
for year-ahead inflation increase
to 3.5% from the 3.2% forecast in April. .
At the same time, long-run
expectations for inflation also
increased to 3.1% from April's 3.0%. .
According to Chicago Federal Reserve
President Austan Goolsbee, the latest data , "bodes awful for progress on inflation.".
There isn’t, at this time,
much evidence in my view that
inflation is stalling out at 3%, Austan Goolsbee, Chicago Federal Reserve President, via CNN
Credit: Wibbitz Top Stories Duration: 01:31Published
Key Federal Reserve Inflation Gauge , Rose 2.8% in March.
According to Commerce Department
data released on April 26.
the personal consumption expenditures
(PCE) price index, not including food or energy, rose 2.8% year-over-year in March. .
That exceeded Dow Jones
estimates of 2.7%, CNBC reports. .
When also accounting for food and energy, the all-items PCE measure rose 2.7%,
which was above the 2.6% estimate.
Inflation reports released this morning
were not as a hot as feared, , George Mateyo, chief investment officer at Key Wealth, via CNBC.
... but investors should not get
overly anchored to the idea that
inflation has been completely
cured and the Fed will be cutting
interest rates in the near-term, George Mateyo, chief investment officer at Key Wealth, via CNBC.
The prospects of rate cuts remain,
but they are not assured, and the
Fed will likely need weakness in
the labor market before they
have the confidence to cut, George Mateyo, chief investment officer at Key Wealth, via CNBC.
Consumers continue to spend despite
higher prices, CNBC reports.
Personal spending increased 0.8% in March, while personal income rose 0.5%.
The personal saving rate dropped to 3.2% as more people are having to dip into their savings to cover the cost of living.
The Fed continues to target 2% inflation, which the core PCE has exceeded for
the last three years, CNBC reports.
Credit: Wibbitz Top Stories Duration: 01:30Published
Fears of Potential Iranian Attack , Drive US Stocks Down , Nearly 500 Points.
CNN reports that United States stocks dropped on
April 12 amid rising tensions in the Middle East pushing
traders to seek safe havens like gold and bonds.
CNN reports that United States stocks dropped on
April 12 amid rising tensions in the Middle East pushing
traders to seek safe havens like gold and bonds.
By mid-afternoon, the Dow had fallen
1.4%, the S&P 500 went down 1.6%,
and the Nasdaq dropped 1.8%.
The dip came after the White House announced
that both the U.S. and Israel are on alert for
a potential attack by Iran or its allies.
The dip came after the White House announced
that both the U.S. and Israel are on alert for
a potential attack by Iran or its allies.
The warning comes after Iran
accused Israel of a deadly airstrike
on a consulate in Damascus, Syria. .
The news also sent oil prices up amid
fears of regional tensions escalating
as a result of the ongoing war in Gaza. .
The news also sent oil prices up amid
fears of regional tensions escalating
as a result of the ongoing war in Gaza. .
Brent crude futures jumped up to $90.42
a barrel, and West Texas Intermediate crude
futures increased to $86.65 a barrel.
Those geopolitical concerns and subsequent
rising oil prices sent investors to safe havens like
gold futures, which rose to $2,379 a troy ounce.
Those geopolitical concerns and subsequent
rising oil prices sent investors to safe havens like
gold futures, which rose to $2,379 a troy ounce.
CNN reports that Americans' opinions of
the economy have dipped in the past few
months amid persistently high inflation.
The geopolitical fears come as investors are already
contending with concerns that the Federal Reserve could
wait to bring interest rates down from a 23-year high.
Officials at the Fed have signaled that further rate
hikes could still be on the way if the central
bank's efforts to fight inflation stall.
Credit: Wibbitz Top Stories Duration: 01:31Published
Federal Reserve Posts Massive, $114 Billion , Loss in 2023.
On March 26, the Federal Reserve
announced a record-breaking net
negative income of $114.3 billion in 2023.
Reuters reports that the loss follows
$58.8 billion in net income in 2022. .
Since releasing the numbers,
the Fed has stressed that negative net
income does not impede its ability to operate.
Since releasing the numbers,
the Fed has stressed that negative net
income does not impede its ability to operate.
As a result of low rates and large
levels of bond holdings, the Fed has
earned significant profits in recent years.
Last year, the Fed's audited interest expenses for
banks' reserve balances reached $176.8 billion,
an increase of over $116 billion from 2022.
In 2023, the Fed's interest payouts from
its reverse repo facility were $104.33 billion,
increased from $41.9 billion the year before.
Reuters reports that the Fed creates funds when
dealing with operating losses, capturing its loss
in an accounting device known as a deferred asset.
Reuters reports that the Fed creates funds when
dealing with operating losses, capturing its loss
in an accounting device known as a deferred asset.
At the close of 2023, the deferred
asset stood at $133.3 billion.
As of March 20 of this year, that number
had risen to $157.8 billion with no
indication of how much larger it could get.
Last year, a St. Louis Fed report forecast that it
could take years before the Fed can return to
profitability and reduce the country's deferred asset.
Last year, a St. Louis Fed report forecast that it
could take years before the Fed can return to
profitability and reduce the country's deferred asset
Credit: Wibbitz Top Stories Duration: 01:30Published
Ice Spice gives a tour of the Bronx, talks about Drake being a "mentor", her reaction to meeting Nicki Minaj, how Taylor Swift makes her laugh and more in her new interview.
Taylor Swift Named Honorary Mayor , of ‘Swiftie Clara’.
Swift's "Era's Tour" has been
making headlines all over the country.
Now, Santa Clara, CA, is ready for its turn
with the record-breaking..
Credit: Wibbitz Top Stories Duration: 01:30Published
![Stock Markets Rally Amid Investor Hopes for Interest Rate Cuts in 2024 [Video]](https://video.newsserve.net/300/v/20240515/1375566508-Stock-Markets-Rally-Amid-Investor-Hopes-for-Interest.jpg)
![Consumer Outlook Plunges Amid Fears of More Price Hikes Ahead [Video]](https://video.newsserve.net/300/v/20240513/1375388796-Consumer-Outlook-Plunges-Amid-Fears-of-More-Price.jpg)
![Key Federal Reserve Inflation Gauge Rose 2.8% in March [Video]](https://video.newsserve.net/300/v/20240426/1373828506-Key-Federal-Reserve-Inflation-Gauge-Rose.jpg)
![Fears of Potential Iranian Attack Drive US Stocks Down Nearly 500 Points [Video]](https://video.newsserve.net/300/v/20240412/1372522960-Fears-of-Potential-Iranian-Attack-Drive-US-Stocks.jpg)
![Federal Reserve Posts Massive $114 Billion Loss in 2023 [Video]](https://video.newsserve.net/300/v/20240327/1371091068-Federal-Reserve-Posts-Massive-114-Billion-Loss-in.jpg)
![Ice Spice Gives A Tour of the Bronx, Talks Drake, Nicki Minaj & Taylor Swift | Billboard News [Video]](https://video.newsserve.net/300/v/20230721/1355667101-Ice-Spice-Gives-Tour-of-the-Bronx.jpg)
![Taylor Swift Named Honorary Mayor of ‘Swiftie Clara’ [Video]](https://video.newsserve.net/300/v/20230719/1355585549-Taylor-Swift-Named-Honorary-Mayor-of-Swiftie-Clara.jpg)
![Santa Clara renamed 'Swiftie Clara' for the Eras Tour [Video]](https://video.newsserve.net/300/v/20230719/1355584768-Santa-Clara-renamed-Swiftie-Clara-for-the-Eras.jpg)
