Amid a coronavirus pandemic that finds America with over 12 million workers unemployed, a number that could get worse with surging virus cases, it probably shouldn’t come as much of a surprise to hear consumers could be tightening the purse strings this holiday season. According to a recent survey by Deloitte, one of the big
When the lockdown first started, the U.S. economy felt like it fell off a cliff. When we started reopening, it felt like a weight had been lifted. But now it’s just drudgery. We’re not going backward, but we’re not making much headway, either, and likely won’t as long as the virus sticks around. While retail
General Motors (GM) has been making a lot of noise in the electric vehicle space over the last few months, with all efforts clearly pointing to a dedicated buy-in of the future of the auto industry. Earlier this year, GM made a promise to shareholders and the U.S. to invest $1.8 million, create 700 new
The International Monetary Fund (IMF) and central banks are beginning to fret over what could happen if enough consumers start use digital currencies instead of national currencies. Some of the controversy is of their own making, as some central banks consider issuing central bank digital currencies (CBDC) to combat the rise of private cybercurrencies, such
Heading into the winter months, it doesn’t look as promising as we would have hoped on the COVID-19 front, according to Dr. Anthony Fauci. On Thursday, 63,600 new cases in the U.S. were reported, pushing the seven-day average of daily new cases up more than 13% compared with a week ago. With cases on the
The TikTok social media app boasts over 100 million active users in American and it’s widely popular with kids. So, toy companies have taken to social media to help drive sales. Couple TikTok’s strong youth appeal with a time where social distancing concerns have limited gatherings and play dates, the app has become a main
Has Pfizer won the race to find a safe COVID-19 vaccine that can help get the world back to normal? In an open letter, Pfizer (PFE) CEO Albert Bourla said the company may file for emergency use authorization with the U.S. Food and Drug Administration for its COVID-19 vaccine as early as next month: Pfizer
Stocks rose in early trading action this morning, as the markets looked to snap a three-day losing streak. Gains were led by a surprisingly strong September retail sales report from the government, giving traders optimism that the economic recovery is moving faster than previously thought. During normal times in a consumer-driven economy, retail sales are
Remote work is a thing, and chances are that many of those who have set up shop at home won’t be returning to the office, at least, not in the same numbers as before. We all need to understand how big this change will be and how it will affect workers, businesses and entire industries
The way things have been going, it seems most people have already begun accepting the fact that the way we live our lives now, could indeed be the “new normal” moving forward. The ways in which we work, learn, shop and travel have always been evolving and with momentum towards digitization and virtual connectivity, things
The funny thing about prices is that they tend to fall for things we don’t want and go up for stuff we’d like to own. That sort of buying pressure is clouding the picture on inflation, where the official numbers make everything look great. Overall, U.S. consumers paid just a bit more for goods and
Yesterday afternoon, President Trump took to Twitter (TWTR) shooting down the House’s latest proposed stimulus plan and blaming House Speaker Pelosi for not negotiating in good faith, saying: Nancy Pelosi is asking for $2.4 Trillion Dollars to bail out poorly run, high crime, Democrat States, money that is in no way related to COVID-19. We
It seems like a weird idea, but the man who controls the printing press in the U.S. is crying for Congress to hand out more cash. In a speech to the National Association for Business Economics, Fed Chair Jay Powell continued his current theme of demanding that Congress step up its support of the economy
