Restaurant sales are going up. But dining out is on the decline

new York CNN Business 🇧🇷 Chain restaurants have been reporting growing sales in the third quarter. But more sales don’t mean more customers. In fact, industry watchers are reporting that foot traffic to restaurants has been dropping in recent months. That’s because as inflation eats into consumers’ budgets, many have been cutting back on their … Read more

First on CNN: Next spring the economy will sink into a 1990-style mild recession, Fitch says

new York CNN Business — Stubborn inflation and the Federal Reserve’s jumbo-sized interest rate hikes will drive the American economy into a 1990-style mild recession starting in the spring, Fitch Ratings warned on Tuesday. In a report obtained first by CNN, Fitch slashed its US growth forecasts for this year and next because of one … Read more

5 signs the world is headed for a recession

new York CNN Business — Around the world, markets are flashing warning signs that the global economy is teetering on a cliff’s edge. The question of a recession is no longer if, but when. Over the past week, the pulse of those flashing red lights quickened the markets grappled with the reality — once speculative, … Read more

Inflation peaking? 10 common consumer items where prices are falling

A customer shops for eggs in a Kroger grocery store on August 15, 2022 in Houston, Texas. Brandon Bell | Getty Images July’s consumer price index report finally showed a sign of potential relief – inflation ticked up less than expected from a year ago, and was flat on the month, meaning that a basket … Read more

Most electric vehicles won’t qualify for federal tax credit

DETROIT (AP) — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for a tax credit that large. That’s … Read more

Today marks an important day for diversity on Wall Street. here’s why

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. new York CNN Business — Wall Street is taking the call to increase corporate diversity seriously. Last … Read more

Risk of significant reversal in gold price rally as inflation report looms, says TD Securities

(Kitco News) The strong employment report proved that the US economy is still expanding despite two consecutive negative quarterly GDP releases. And for gold, this means that the price rally could be at risk, according to TD Securities. In reaction to the US economy adding 528,000 jobs in July, gold lost 1% on Friday. The … Read more

Era of steady growth has ended, but here’s how to prepare

BlackRock says world markets have become more volatile, and they’re going to stay that way for a while. The world’s biggest asset manager says that the era of steady growth and low inflation has ended: “Traditional portfolios, hedges and risk models won’t work anymore, we think.” “The Great Moderation, a long period of steady growth … Read more

RPT-WEEKAHEAD-Wall St Week Ahead: Inflation Data May Seal Fate of Unloved US Stock Rally

A rally in US stocks that has powered on despite skepticism from Wall St faces a reality check in the coming week, as key inflation data threatens to shut the door on expectations of a dovish shift from the Federal Reserve. The S&P 500 has walked a tightrope this summer, rising 13% from its mid-June … Read more

The US economy has yet to face its biggest recession challenge

A person removes the nozel from a pump at a gas station on July 29, 2022 in Arlington, Virginia. Olivier Douliery | AFP | Getty Images You’d be hard-pressed now to find a recession in the rearview mirror. What’s down the road, though, is another story. There is no historical precedent to indicate that an … Read more