by Bloomberg.com | May 31, 2024 | alerts, Markets/Economy
Downward revision seen as signal that oil demand at risk Crude refining margins are weakening around the globe US diesel demand plummeted to its lowest seasonal level in 26 years in March, driven by slowing economic growth. Product supplied of distillate — the fuel...
by Bloomberg.com | May 31, 2024 | alerts, Markets/Economy
Inflationary impact of big supply shocks has largely resolved ‘Last half mile’ to Fed’s target relies on persistent forces Inflation may not return to the US central bank’s 2% target until mid-2027, according to research from Federal Reserve Bank of Cleveland. That’s...
by Bloomberg.com | May 31, 2024 | alerts, Markets/Economy
Brent futures fall for third day, poised for monthly drop Prompt timespread slips into bearish contango structure Oil fell for a third day as a key market gauge highlighted oversupply concerns before an OPEC+ supply meeting on Sunday. Brent crude for August was near...
by Bloomberg.com | May 30, 2024 | alerts, Markets/Economy
Compound is closed to public and tucked inside headquarters Loss of institutional knowledge comes as company’s sales slow Nike Inc. has cut some staff from its secret sneaker archives as part of a multiyear cost-cutting plan, according to people familiar with the...
by Bloomberg.com | May 30, 2024 | alerts, Markets/Economy
Index slides 7.7% to 72.3, lowest reading since April 2020 Contract signings decrease in all US regions, led by Midwest A gauge of pending US existing-home sales tumbled to a four-year low in April as higher mortgage rates cast a pall on the spring selling season. An...
by Bloomberg.com | May 30, 2024 | alerts, Markets/Economy
Economy expanded at 1.3% pace versus initial estimate of 1.6% Consumer spending was lower on outlays for goods like autos The US economy grew at a slower pace in the first quarter than initially reported, primarily reflecting softer consumer spending on goods. Gross...
