Author: starbpo

The Amounts: A key measure of U.S. factories has been negative for five months in a row, which shows that the manufacturing sector of the economy is still in a deep slump that may not end until after the election. From a low point of 46.8% eight months ago to 47.2% now, the Institute for Supply Management’s industrial index slowly rose. If the number is less than 50%, it means that the industry sector is shrinking. “Demand remains subdued,” said Timothy Fiore, chairman of the ISM survey. “Companies are unwilling to invest in capital and inventory because of [uncertainty about]…

On Tuesday, the market value of Nvidia Corp. dropped by $279 billion. This was the biggest loss for any company in a single day. That’s what Dow Jones Market Data says, and it happened at the same time as a big drop in chip stocks in general. Nvidia stock (NVDA -9.53%) fell 9.5% on Tuesday, making it one of the worst losers in the PHLX Semiconductor Index. 7.75% SOX This is the first time that Nvidia’s stock has gone down since it reported quarterly earnings last week. This is a big deal because Nvidia sets the tone for the chip…

Two years after getting billions of dollars to toughen up on wealthy taxpayers while keeping audit rates the same for most Americans, a new report from a watchdog group says the IRS still hasn’t decided how to keep track of how many audits it does for people making less than $400,000 a year. It was released Thursday by the Treasury Inspector General for Tax Administration. It said that the IRS “has made limited progress” on building its method and needs to move faster. The IRS replied that it still had time to decide on a final plan, but it agreed…

Tuesday, oil futures closed at their lowest level of the year. This was because bad economic news from China and the U.S. factory sector made people worry that energy demand would drop. Tuesday’s sharp drop in oil prices was also caused by rumors about how to end a dispute in Libya over who controls the country’s central bank. This dispute had apparently caused major problems with oil production and exports from the country. The price changes Market forces “Thoughts that the U.S. driving season would push prices to new all-time highs this summer did not come true because demand stayed…

It was a rough month for the U.S. stock market, but it ended on a good note after a day of heavy selling on August 5 that made Wall Street’s worst day in almost two years. As we know from the past, however, seasonal weakness in September could stop the progress by making the financial markets more volatile. Based on past results, September seems to be the worst month of the year for the stock market. Dow Jones Market Data shows that since 1928, the S&P 500 SPX -2.12% has had an average monthly drop of 1.2% and has only…

Nvidia Corp. shares can go down in value during September, just like all other stocks. Based on percentage changes, September is usually the worst month for Nvidia shares NVDA -9.53% and most big stock indexes. Dow Jones Market Data shows that Nvidia shares have lost 2.35 percent on average in September. The S&P 500 SPX has lost 2.1 percent, and the Nasdaq Composite COMP has lost 3.2 percent. Another bad sign for Nvidia’s stock is that it has been falling sharply since April, and this drop could last until the end of the month. The stock has dropped about 20%…

After a closely watched measure showed more weakness in the manufacturing sector on Tuesday, September began with a sense of déjà vu for stock market investors. Major indexes ended the day sharply lower. After all, August began with a big drop after the factory index from the Institute for Supply Management fell for the fourth month in a row in July. The August ISM manufacturing index went up again on Tuesday, but it stayed below 50, which means the sector shrank for a fifth month in a row. In a note, Peter Boockvar, chief investment officer at Bleakley Financial Group,…

The price of petrol at the pump has been going down before the end of the summer drive season. Analysts say drivers shouldn’t rule out the chance of a spike, even though demand usually starts to drop around this time of year. Before Labour Day, petrol prices were lower than they have been in recent years. AAA spokesman Andrew Gross said that costs tend to drop after the holiday. He did say, “We must watch the Atlantic because it is still hurricane season.” Hurricanes can have an effect on the Gulf of Mexico, where 15% of the country’s oil production…

While most people are cooking on their grills for Labour Day, the Federal Reserve may be thinking more about the workers that the holiday honours. In the coming months, the Fed will use the job market as a key indicator to decide how quickly to lower interest rates. Chair Jerome Powell has already made it clear that a quarter-point cut is possible at the meeting on September 18 and that unemployment is being closely watched. A very weak reading in the August jobs report, which comes out this Friday, could allow for a half-point move to begin the process of…

Early on Monday, Frankfurt stocks led European markets down. This was because a rise in support for a far-right party in Germany’s local elections and bad economic data from China made investors less optimistic. Even though Wall Street had a strong day on Friday, the DAX index fell 0.5% at the start of the week when investors heard that the AfD had won the election in Thuringia, an eastern state, with 32.8% of the vote. This was the first time a far-right party had won an election in a German state since the Second World War. Also, more people voted…