GDP growth cut to 2.4% for fourth quarter on on revision but belief in 2014 growth unshaken on Wall Street
The fourth quarter GDP growth rate took a big hit this morning when the second estimate fell to an annualized rate of 2.4% from 3.2% on the first read. That was a big drop from the 4.1% in the third quarter and below the 2.5% median forecast of economists. But there was enough other positive economic news so that the Wall Street consensus this morning was still “it’s the cold weather.”
Chesapeake misses on earnings but continues to execute its longer-term strategy
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Big data on U.S. GDP growth tomorrow: Disappointing or reassuring?
The big U.S. economic number of the week, the second estimate of fourth quarter GDP growth, gets posted tomorrow morning at 8:30. The first estimate put fourth quarter GDP growth at 3.2%. That was a disappointing drop from the 4.1% growth rate in the third quarter. The consensus among economists is that the second estimate will show even slower growth of just 2.6% for the fourth quarter.
Special Report Part 2: 15 stock picks for 2014
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Wash, dry, repeat: Middleby’s repeats its way to a 37 cents a share earnings beat
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...More evidence of tightening in China’s falling yuan
It sure looks like the People’s Bank is tightening again. China’s yuan was down 0.4% against the dollar at one point yesterday. That brought the currency’s decline to almost 1% in a week. That’s a big move for the very tightly managed yuan. China’s currency doesn’t move up or down unless the country’s central bank decides to let it move.
Worries about tighter credit back in China’s financial markets today
Welcome back liquidity worries in China. Today Industrial Bank suspended mezzanine lending used by real estate developers. The move to restrict these loans is seen as an indicator of a potential tightening of all kinds of financing for the sector. The news on mezzanine lending comes on top of reports that show a drop in real estate sales
With a yield above 10%, Seadrill pays you–reasonably–to ride out recent volatility
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...S&P makes another run at a new all-time high–watch 1851 at the close
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Looks like the European Central Bank is still on track for lower interest rates at March 6 meeting
Mixed data out of Europe today still point to monetary stimulus from the European Central Bank at its March 6 meeting. Consumer inflation climbed at an annual 0.8% rate in January, the fourth straight month below 1%.