This week we explore a nanotube sensor capable of detecting COVID-19 in five minutes. We also look at a new method that has the potential to improve gene editing systems, a new blood screening test for detecting early stages of cancer, an artificial intelligence startup focused on improving new drug ... READ MORE >
Covid-19
FOMC preview: Tapering explained
Next week’s meeting of the Federal Open Market Committee will focus on the Federal Reserve’s exit from its pandemic-era asset purchase program that has sent its balance sheet above $8.5 trillion. We expect that the Fed will announce plans to reduce its monthly monetary accommodation of $140 billion ... READ MORE >
Chart of the day: Pending home sales dipped in September
The pending home sales index fell by 2.3% to 116.7 in September after a strong gain of 8% in August, a sign of a modest pullback in home buying as some purchases are delayed until next year, according to a report from the National Association of Realtors on Thursday. But the market remains strong, and ... READ MORE >
GDP grows 2% as delta variant, supply chains and inflation take their toll
The delta variant, disruptions to global supply chains and inflation all took a powerful toll on U.S. gross domestic product in the third quarter as the pace of growth slowed to 2% from 6.7% in the prior quarter. On a year-ago basis, GDP increased by 4.9%, while on a nominal basis, GDP expanded at ... READ MORE >
Jobless claims hit pandemic low as labor market recovers
New filings for jobless claims dropped to another pandemic low last week as jobs remain plentiful while employers continue to compete for employees. Initial jobless claims, a proxy for layoffs, fell to 281,000 for the week ending Oct. 23, according to government data released Thursday. The same figure ... READ MORE >
Goods trade deficit hit new low in September amid strong demand
The goods trade deficit set another record low in September at $96.3 billion as American demand remained strong, according to the Census Bureau advance report released Wednesday. The imbalance between the recovery rates in the United States and in other countries remained a heavy drag on the trade of ... READ MORE >
Bank of Canada talks like a hawk and walks like a dove as it keeps rates steady
The emerging trend of central banks talking like hawks and walking like doves amid supply chain disruptions and persistent inflation continued as the Bank of Canada kept its policy rate at 0.25% on Wednesday. The central bank signaled that it intends to end its quantitative easing program and move ... READ MORE >
Chart of the day: Signs of strength in durable goods orders
Durable goods orders fell by 0.4% in September after a strong gain of 1.3% in August, driven by transportation orders—vehicles and nondefense aircrafts—which declined by 2.3% on the month, according to Commerce Department data released Wednesday. But even with this decline in transportation orders, ... READ MORE >
The new RSM US Financial Conditions Index shows a favorable investment climate
Financial conditions in the United States continue to be highly favorable for investment despite the recent rise in some asset classes, according to a new measure from RSM US. With the Federal Reserve maintaining its low interest rate policy to encourage economic activity, the risk being priced ... READ MORE >
New home sales highest since March
New home sales increased by 14% in September to 800,000, the highest since March, indicating that strong demand for new houses continued to drive the market, according to Commerce Department data released on Tuesday. This was the biggest one-month percentage increase since July 2020, as the change in ... READ MORE >