breaks down key stories you need to know, from Thursday's Consumer Price Index report to the state of small businesses.The month-over-month CPI is projected to be 0.1%, down from August's 0.2%. The year-over-year reading is anticipated to drop to 2.3% from August's 2.5%. Meanwhile, Core CPI, which excludes volatile food and energy prices, is expected to have a month-over-month rate of 0.2%, down from August's 0.3%. The year-over-year core rate is projected to hold steady at 3.
Travel spending continues to rebound with experiences spending growing, according to GetYourGuide research. GetYourGuide CEO Johannes Reck explains,"We've seen a lot of traction in this space. Research indicates that it's a $300 billion market a year, and that's just the beginning of it. The market continues to grow, the market continues to expand. And if you add what people actually are doing on their weekends, it's a $1.7 trillion market.
What are you expecting at that next FO MC meeting is a continuation of 50 basis points or is it 25 basis points as the most recent jobs report would certainly put some cold water on that 50 basis point expectation.Uh because while the jobs number was better than expected on the flip side, we also know that revisions lately have been significantly to the downside.
But obviously, the geopolitical issues I think are the biggest Black Swan potential is, you know, really the biggest one is what's going on in the Middle East. Uh That is one thing we're doing and we're actually looking at longer duration, you know, longer maturity uh type fixed income to lock in rates because if we did see that, that usually leads to what's called a flight to quality.
So I, like I said, I think it's less about what happens with the release of these earnings and more about what companies are saying about their, what they see in the fourth quarter, what the consumer looks to be doing, their, their habits or behaviors and, and whether the inventories are gonna be, uh, in ex, uh, meaning that they're gonna have to lower prices.
Take a look at housing shelter prices rose 5/10 of a percent about a half of a percent last month or in the the last reading, which was the all this reading and they were the driving factor for all of price growth there for that month.Think your grocery prices and they were up 9/10 of a percent in the month of August from a year earlier and price growth for food away from home.If you're going to fast food chains, that was actually up a 4% on a year over year basis.
They are confident in the fact that it does continue to cool any sort of blip there or any sort of, I guess, refocus from the fed away from jobs which they very much have been over the last couple of months.That would be a real concern here for investors.More consumers, 81% according to one of their surveys consider inflation a major concern in Q 3 86% saying it's impacted their daily, their daily lives, which just goes hand in hand with this conversation.
So what that means is, understand what your current employer is offering in terms of the retirement benefits and know what you were doing before to have the same trajectory in terms of meeting the retirement goals. The National Federation of Independent Businesses uncertainty index jumped in September to the highest level on record as small business owners, they weigh inflation pressures and the November election.Holly, great to have you here with us.
And so kind of thinking through what that might mean for them, what fed policy going forward means for them in maybe more affordable financing options. However, employment on our questions related to unfilled job openings, hiring plans, you know, those have held up pretty well over the last year, we've seen a decline in those saying that they have a job opening that they currently aren't able to fill, but we're still in very high levels um back to where we were in 2019, similar with hiring plans.
But in addition to that, we are seeing compensation um plans and also what they've done in the past quarter, still strong numbers. That 20% small business deduction on qualifying income is a was a huge benefit for them in the 2017 tax cut and Jobs Act.And so that's one of the main concerns that they have moving into 2020 is that Congress passed legislation to make that permanent, that the administration follows through in signs and they're looking for a lot of uncertainty on that front.
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