All the recession warning signs this week - CNN

All the recession warning signs this week - CNN

All the recession warning signs this week - CNN
Jun 26, 2022 1 min, 23 secs

Here's what CNN Business reported last week:

Copper prices

Prices for the metal hit 16-month lows on Thursday after dropping more than 11% in two weeks -- that's bad news for investors who view copper prices as a bellwether for the global economy.

Copper is widely used in construction materials, and it faces increased demand in an expanding economy.

And now, copper prices are falling.

"Copper prices are just starting to account for the fact that global growth is slowing," Daniel Ghali, director of commodity strategy at TD Securities, told CNN Business' Julia Horowitz.

Purchasing Managers' Index

The index released by S&P Global on Thursday found that US private sector output slowed "sharply" in June.

Chris Williamson, chief business economist at S&P Global Market Intelligence, said producers of non-essential goods are seeing a drop in orders as consumers struggle with rising prices.

The Fed's aggressive interest rate hikes are dampening the mood further.

"Business confidence is now at a level which would typically herald an economic downturn, adding to the risk of recession," Williamson told CNN Business' Julia Horowitz.

Consumer sentiment

A closely followed University of Michigan survey released Friday found that US consumer sentiment hit a new record low in June -— the lowest recorded level since the university started collecting the data 70 years ago.

The percentage of consumers who blamed inflation for eroding their living standards, 47% according to the June index, is only one percentage point lower than the all-time high reached during the Great Recession.

He put the odds of a recession this year at 99% because "nothing is 100%."

Housing slump

Better news: A cool-down of the housing market may not hurt the economy and stock market.

1 Onondaga County reports first monkeypox case - syracuse.com

Aug 10, 2022 # health 45 secs

2 Enraged Anti-Vaxxer Arrested for Vile FBI Threats in Wake of Trump Raid - The Daily Beast

Aug 16, 2022 # politics 1 min, 26 secs

3 Bill Maher Blasts Appropriation Movement in Casting Decisons for Movie Roles - TMZ

Aug 13, 2022 # politics 24 secs

4 Whole Foods founder says socialists are 'taking over' the US, threatening liberties

Aug 11, 2022 # breaking 31 secs

5 Trey Gowdy on Tim Scott's story of pain, purpose and perseverance

Aug 15, 2022 # breaking 2 secs

6 Artemis: Nasa readies giant Moon rocket for maiden flight - BBC

Aug 17, 2022 # politics 1 min, 18 secs

7 Lin-Manuel Miranda says Texas church's 'Hamilton' show was 'illegal' - USA TODAY

Aug 12, 2022 # entertainment 35 secs

8 Actor Anne Heche dies a week after car crash, friend says - The Guardian

Aug 12, 2022 # politics 1 min, 12 secs

9 FBI Records Shed New Light on Why Brad Pitt Wasn’t Charged in Alleged Jet Assault - Rolling Stone

Aug 17, 2022 # entertainment 1 min, 18 secs

10 Shift Work Has Long-Term Negative Health Consequences - SciTechDaily

Aug 16, 2022 # health 1 min, 57 secs

11 Meta injecting code into websites visited by its users to track them, research says - The Guardian

Aug 11, 2022 # technology 53 secs

12 Samsung unveils new foldable smartphones, seeking keep lead in growing market - Reuters

Aug 11, 2022 # politics 52 secs

13 Musk sells Tesla shares worth $6.9 billion, cites chance of forced Twitter deal - Reuters.com

Aug 10, 2022 # politics 1 min, 3 secs

14 Summer's last supermoon and meteor shower take the celestial stage tonight - CNN

Aug 11, 2022 # science 1 min, 7 secs

15 Gunman killed after FBI attack once had top security clearance: report - New York Post

Aug 13, 2022 # politics 29 secs

16 Tim Ryan voted for Dem bill that will raise taxes, despite calling for lower taxes - Fox News

Aug 16, 2022 # politics 1 min, 55 secs

Get monthly updates and free resources.


© Copyright 2022 365NEWSX - All RIGHTS RESERVED