The market’s lack of reaction to the government shutdown is by itself interesting for what it says about what matters to investors: Persistent fears that the U.S. economy is lurching its way toward recession. More on the shutdown, housing market and jobs report in this week's edition.
Already thinking about the holidays? If you’re planning a holiday getaway, you may want to act fast – some experts say plane ticket prices will start rising significantly in mid-October. That’s also when you may be able to score a deal on your holiday gift list, if Amazon and Walmart have their way.
When Fed Chairman Jerome Powell continually warned that the Fed was more inclined to keep rates high longer than markets seemed to expect, investors didn’t really worry too much. Now, the market’s view that the Fed would probably start cutting rates sometime after New Year’s Day looks quite a bit more tenuous than it once did.
It is a truth universally acknowledged: September is Apple szn. Apple recently unveiled the iPhone 15 and announced all next-gen smartphones will switch to the universal USB-C. Whether or not you make the upgrade (if so, you might have to wait until November), what and when you bite may come down to purchasing power.
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Prices at the consumer level rose 0.6% in August, faster than at any point in more than a year. At the producer level, things were even worse: PPI rose 0.7%, also the biggest increase since last summer.