TIPP Poll data on Americans' perception of the economy is the foundation for this section. Topics covered include U.S. consumer confidence, consumer sentiment, job market, economic growth, recession, financial stress, economic outlook, personal financial outlook, federal economic policies. We also cover trade, taxes, and debt. Our TIPP economic optimism index, financial stress index, job sensitivity metrics, and other polling on current economic issues drive the discussions.
Job openings, a measure of labor demand, had decreased by 178,000 to 7.359 million by the last day of June, the Labor Department‘s Bureau of Labor Statistics said in its Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday.
The services sector accounted for all net job gains, adding 47,000 positions, while goods-producing industries shed 3,000 jobs.
Total mortgage applications fell 2.9% from the previous week and were 5% lower than the same period a year earlier, marking the first annual decline since April
The RCM/TIPP Economic Optimism Index held July's rebound in August, easing just 0.4 points to 45.1, as personal finances firmed and the six-month outlook slipped.
That’s what’s happening with interchange fees—the fees companies like Visa and MasterCard charge to process credit and debit card payments.
Although job openings slipped slightly to 7.36 million in June, they remained above levels recorded a year earlier, indicating that labor demand continues to hold up.
Chief Executive Officer Andy Jassy said both the company's artificial intelligence and custom chip businesses have surpassed annualized revenue run rates of $25 billion.
Fifteen of the 16 major manufacturing industries recorded growth during the month, with chemical products being the only sector to contract.
The increase has been driven in part by concerns over disruptions to oil shipments through the Strait of Hormuz.
The ISM Purchasing Managers' Index rose to 55.6 in July from 53.3 in June, beating analysts' expectations of 54
The benchmark 10-year Treasury yield slipped to 4.688%, while the two-year and 30-year Treasury yields also moved lower
Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari and Dallas Fed President Lorie Logan opposed the central bank's decision to hold rates steady for a fifth consecutive meeting.
According to Commonwealth Bank of Australia, shipping through the Strait of Hormuz has recovered to about 30% to 35% of pre-conflict levels.
Mamdani’s office noted that the basket of goods “will include all fresh produce, meat and seafood, along with roughly 20 additional categories of pantry staples, dairy and refrigerated goods.”
Six of the entities targeted for sanctions were based in China, it said.
