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The Latest Breaking News from Recession

3 things that could still go wrong for the U.S. economy, Bank of America’s chief economist says

Despite recent bullish economic data, Michael Gapen says he still expects a “mild recession” by the start of 2024.

Fortune

High-Earners Continue to Experience a "Richcession" and it's Not Over Yet

It looks like the rich may not keep getting richer, at least in the short term, thanks to a continued "richcession."

Barchart

The fight for COLA: Why the UAW is pushing hard to restore long-lost benefit

DETROIT — Rob Pacheco estimates that he brought home more money 20 years ago than he does today because of concessions autoworkers made to help save the U.S. auto industry during the Great Recession.

Tribune News Service

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Bank of England warned 7 per cent interest rates would send shock wave through housing market

A leading economist says there is ‘no need to panic’ as Britain is ‘not in an 07-08 scenario’

The Independent UK

US jobs report likely to show a solid gain, potentially complicating Fed's drive to cool inflation

Another solid month of hiring in the United States is expected to be reported Friday, an outcome that would suggest no recession is in sight yet could make it harder for the Federal Reserve to succeed in its drive to cool the economy and curb high inflation

The Independent UK

The strategist who called a recession after the regional banking crisis says it already happened and nobody noticed

The catch is it's global. The heated debate about a U.S. recession is a moot point. The much bigger story is that a typical world recession has likely already started."

Fortune

FTSE 100 falls to lowest closing level in 2023 as interest rate fears grip markets

Markets suffer on both sides of Atlantic as Fed signals more rate hikes and recession fears grow in UK

The Guardian - UK

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Tech stocks have surged on ‘nothing but hope,’ says a top markets strategist who’s been worrying about the future of capitalism

Actual earnings are quite poor, says Société Générale’s Albert Edwards, and investors ignore recession warnings “at their peril.”

Fortune

When, how will air travel recover?

Global commercial air travel demand reached 90% of pre-Covid levels in May 2023, according to Bain & Company's Air Traffic Demand Forecast Model. A complete rebound is anticipated in the first half of 2024, primarily driven by the resumption of Chinese air travel. However, current recovery trends may be dampened…

Bangkok Post

Paul Krugman Smacks Down ‘Recession Truthers’ Led By Elon Musk As ‘Crypto Cultists’

Economist and Nobel laureate Paul Krugman revealed he had no soft corners for an emerging group he calls “recession truthers,” following a decline in inflationary pressure over the past year

Zenger

Wall Street buys into Bidenomics, with the top economists at Goldman and other banks saying we could really dodge a recession

The White House is taking a victory lap, and economists at Goldman Sachs and JPMorgan are offering rosier economic forecasts.

Fortune

Nobel laureate Paul Krugman dismisses Elon Musk’s economic predictions, calling them conspiracy theories by a ‘recession truther’

The Princeton economist and New York Times columnist said tech billionaires are “often, in practice, easy marks for grifters and con men.”

Fortune

3 Industrial Stocks with Strong Momentum in July

Amid high-interest rates and a tight labor market, the economy is at risk of tipping into a recession in the second half of 2023. So, investors could consider buying industrial stocks Holcim (HCMLY), GMS (GMS), and Apogee Enterprises (APOG) that have gained momentum despite the market volatility. Keep reading.

StockNews.com

Why aren’t soaring interest rates bringing down inflation?

Rishi Sunak has blamed the high number of fixed-rate mortgages for his government’s failure to bring down inflation.

The Week

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Fortune

Will there be a 'double-dip recession' in the housing market? Top economist Ali Wolf is 'watching closely'

Zonda's chief economist tells Fortune, "the housing recession in the new-home space is over... the big question is—is that it?"

Evening Standard

OPINION - West End Final: The economic indicator that says we’re headed for recession

At roughly $3 trillion, the UK economy is large and contains multitudes. Not as massive as it might have been as a result of Brexit, Covid-19 and Russia’s invasion of Ukraine, but enough to rank sixth in the world.

WEKU

Here are the 5 things to know about the state of the economy this Independence Day

As the U.S. celebrates its birthday with hot dogs and fireworks, the economy continues to grow, the job market is strong, but inflation and rising interest rates are keeping recession fears alive.

StockNews.com

Are Stock Fireworks OVER After July 4th?

The S&P 500 (SPY) has soared through the first half of the year. Even more impressive are the tech stocks in the Nasaq having a stellar first act on the year. But that is then...and this is now. That is why investment veteran, Steve Reitmesiter, shares his latest views on…

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Fortune

American manufacturing just slumped to its lowest level in 3 years. Jefferies says the sector is 'still mired in recession'

The ISM Manufacturing Purchasing Managers’ Index fell to 46 last month from 47.1 in May, its lowest point since May 2020.

Barchart

M&As are Down 38% in 2023; Does That Mean a Recession is Coming?

In the first half of 2023, mergers and acquisition (M&A) deals dropped to multi-year lows. Is this a harbinger for a recession?

StockNews.com

Is Nike (NKE) a Quality Stock?

NIKE (NKE) faces margin pressures as consumers pull back on spending amid recession concerns. The company saw a significant decline in its bottom line in the last reported quarter. So, will it be worth investing in this sportswear giant now? Keep reading.

Tribune News Service

Is the housing market about to crash? Here’s what experts say

After a record-breaking run that saw mortgage rates plunge to all-time lows and home prices soar to new highs, the U.S. housing market finally started slowing in late 2022. Mortgage companies engaged in mass layoffs, real estate economists lamented a “housing recession” and home prices seemed poised for a correction.

Axios

A mid-year assessment for the U.S. economy

So far the immaculate disinflation — what had seemed a remote scenario in which inflation comes down without a recession — has materialized.

Tribune News Service

Conor Sen: Squeezed homebuyers are just what the economy needed

The housing market is full of surprises. Sentiment among homebuilders has been perking up, their stocks are surging, and new home sales are at the strongest since early 2022. All in the face of persistently high mortgage rates.

The Independent UK

Stock market today: Asian shares rise on optimism over Wall Street rally

Asian shares are mostly higher after a rally on Wall Street driven by reports that showed inflation abating, assuaging fears over the threat of a recession

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