United States consumer confidence has plummeted to a decade-low in November. The University of Michigan’s consumer sentiment index fell to 66.8 in November, down sharply from the October figure of 71.7 and well below consensus forecasts of 72.4.
The chief economic adviser for financial services firm Allianz warned that the new coronavirus variant Omicron could shake up the markets, exacerbate supply chain woes, amplify record-high inflation pressures — and possibly result in 1970s-style “stagflation.”
US President Joe Biden said on Friday that he is not concerned about the plunge in the US stock market and he had expected it over concerns related to the new Omicron coronavirus variant."I expected it," Biden told reporters when asked if he is worried about the stock market plunge.
The Dow Jones fell over 900 points just after opening bell on Nov. 26, with other major Wall Street stock indexes—and risk assets more generally—also seeing sell-offs as news of a new COVID-19 variant spreading in South Africa seems to have sparked a broader risk-off sentiment among investors.
A new report from Boston Consulting Group (BCG) shows that Americans plan to spend more during this year’s Black Friday and Cyber Monday events than last year’s, suggesting retailers may be in for a windfall as the busy holiday shopping season kicks off.
If a number of politicians who are hostile to the Second Amendment get their way, American banks will essentially begin spying on American citizens who buy guns and/or ammunition. And if those citizens are buying what the politicians consider to be too much ammunition or too many firearms, those very citizens could be labeled potential domestic terrorists.
