Breaking News
Dec 24, 2022
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Ahead of Chinese Lunar Year, health agencies braced for a surge in Covid infections in the countryside and at least 250 million people are expected to begin traveling in two weeks.
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Coast-to-coast storm brought bitter cold to 200 million people in the U.S. At least 1,500 flights were canceled by Saturday morning following 6,000 cancellations and 11,000 flight delays on Friday.
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The Nikkei index in Tokyo dropped 1% and extended weekly losses to 4.7% after core inflation rose to a new 4-decade high of 3.7% in November.
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The personal consumption expenditure price index rose 5.5% in November slower than 6.1% in October, the slowest pace of increase since Oct 2021. Food prices increased 11.2% and energy rose 13.6%.
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The omnibus $1.7 trillion dollar bill with record $858 billion in defense spending was approved by the House and the bill is expected to be signed by President Biden.
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Third quarter GDP growth was revised higher to 3.2% annual pace from the previous estimate of 2.9% after nonresidential fixed investment and consumer spending accelerated, the U.S. BEA said Thursday.
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Initial claims of jobless benefits rose 2,000 to 216,000 in the week ending Dec 17 and continuing claims fell 6,000 to 1.67 million in the week ending Dec 3, the Dept of Labor said Thursday.
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CarMax said third quarter revenue declined 23.7% to $6.5 billion and net income plunged to $37.6 million from $269.4 million and diluted earnings per share dropped to 24 cents from $1.63 a year ago.
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CarMax said in the last quarter ending in November retail unit sale of used vehicles declined 20.8% to 180,050 and wholesale unit sales plunged 36.7% to 118,757.
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Russian Ural oil price drops below $55 a barrel, a new low since 2021, and lower than a $60 a barrel price cap imposed by the European Union, G7 and Australia.
Dec 23, 2022
Dec 22, 2022
