August Trade Deficit at $67.4B, Beats Forecast
The U.S. International Trade in Goods and Services, also known as the FT-900, is published monthly by the Bureau of Economic Analysis with data going back to 1992 and details U.S. exports and imports of goods and services. The headline number of -67.4B was better than the -67.70B Investing.com forecast.
Weekly Gasoline Price Update
As of October 3, the price of Regular and Premium were up 7 and 12 cents, respectively, from the previous week. According to GasBuddy.com, California has the highest average price for Regular at $6.31 and Mississippi has the cheapest at $3.03. The WTIC end-of-day spot price closed at 83.63 and is up 9% from last week.
We Should All Cheer the Return of Company Profits
Trying to forecast inflation is a hazardous occupation when there's so much volatility in markets, supply chains and energy prices. But we can get some sense of where inflation is likely to go by tracking the profit margins of companies that make goods and services that go into the consumer prices basket.
Fed Pivot Trade Sparks Again as Bonds Rally, Dollar Weakens
Global bonds and stocks are rallying on hopes that the latest signs of weakness in the US economy will push the Federal Reserve to rethink the aggressive monetary policy tightening that some fear will trigger a recession.