Yahoo News

A severe recession is possible, economic expert warns

Dust off your recession preparation handbook you used back in 2008-2009 as the setup exists for a severe recession not too far off in the future, warns one business cycle expert. “The job market is pretty tight, so therefore this could mean a mild recession. I don’t think that’s knowable just yet. One of the things that we are seeing from our research — because we do look at 22 economies around the world — is that there is a setup for a more severe recession. A more international… Source link

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What Wall Street is saying about May’s shocking inflation report

Inflation continued to surge in May, increasing at the quickest pace in 40 years as consumers face rising challenges at the gas station and grocery store. The Consumer Price Index (CPI) published Friday by the Bureau of Labor Statistics rose 8.6% from a year ago, up from April’s reading of 8.3% and higher than economists had projected. Federal Reserve policymakers tasked with bringing prices back down to earth are likely to take cues from May’s CPI report on how aggressively they need to… Source link

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Energy costs rise by most since 2005 as gas prices weigh on consumers

Energy prices saw the biggest one year jump since 2005 last month amid a hotter than expected inflation print. The energy index rose 3.9% last month according to the Bureau of Labor Statistics’ Consumer Price Index (CPI) published Friday after a 2.7% decline in April. Gasoline, fuel oil and natural gas prices all increased in May. Gasoline prices rose 4.1% month-over-month, fuel oil spiked 16.9% from the prior month, and natural gas also rose 8% during the same span. The energy index rose 34.6%… Source link

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US Inflation Quickens to 40-Year High, Pressuring Fed and Biden

(Bloomberg) — US inflation accelerated to a fresh 40-year high in May, a sign that price pressures are becoming entrenched in the economy. That will likely push the Federal Reserve to extend an aggressive series of interest-rate hikes and adds to political problems for the White House and Democrats. Most Read from Bloomberg The consumer price index increased 8.6% from a year earlier in a broad-based advance, Labor Department data showed Friday. The widely followed inflation gauge rose 1% from… Source link

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Inflation hits 40-year high as CPI rises 8.6% in May

U.S. consumer prices accelerated in May to the highest since 1981, as Americans grapple with a surge in the cost of gas, food, and shelter, data showed Friday. The Bureau of Labor Statistics’ May Consumer Price Index (CPI) showed a year-over-year increase of 8.6% last month, up from 8.3% in April. Economists were expecting an 8.3% increase in May, according to estimates compiled by Bloomberg. On a monthly basis, the broadest measure of inflation climbed 1.0%, compared to 0.3% in April. “Core”… Source link

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Goldman cuts Netflix to ‘Sell’ citing competition and a ‘consumer recession’

Goldman Sachs is kicking a streaming dog when it’s down. Goldman analyst Eric Sheridan slashed his rating on Netflix (NFLX) shares to Sell from Neutral on Friday, sending the stock off as much as 5% in pre-market trading. Sheridan cut his price target on Netflix to $186 from $265. “We have concerns around the impact of a consumer recession as well as heightened levels of competition on demand trends (both in the form of gross adds and churn), margin expansion, and levels of content spend and… Source link

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NBA Finals Game 4 Picks

This article is part of our Yahoo DFS Basketball series. The Celtics took care of business at home in Game 3 earning a 16-point win over the Warriors. It wasn’t as easy as the final score would seem to indicate as the Warriors actually stormed back and took the lead in the third quarter. If Golden State’s going to even things up on the road, they’re going to need a better performance from Draymond Green after he only produced two points, four rebounds and three assists before fouling… Source link

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Stock futures mixed before key inflation report

U.S. stock futures struggled for direction Friday morning as investors awaited an update on inflation, which is expected to hover near a 40-year high amid elevated prices for gas, food and a variety of other goods and services. Contracts on the S&P 500 and Dow were each off by about 0.2% in pre-market trading. Nasdaq futures traded flat to slightly higher. Treasury yields rose along the short-end of the curve, while the benchmark 10-year yield steadied around 3.03%. U.S. crude oil prices rose… Source link

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Yahoo NBA DFS Primer Celtics v. Warriors: Friday (6/10)

That Wednesday game was weird. Golden State made a third-quarter run to make it competitive, but it felt like Boston would never lose that game after a dominating opening frame. The crowd and energy in the building were electric, and it’s going to be tough for the Warriors to win in TD Garden. We have Game 4 in that building once again, so let’s get started with the injury report! Create the optimal lineup using our NBA DFS lineup optimizer >> Injury Report Find the best… Source link

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Britney Spears’s ex-husband Jason Alexander crashes wedding

Britney Spears‘s wedding day is off to a dramatic start. Jason Alexander, the singer’s first husband, just trespassed at her home where she’s set to marry Sam Asghari in a few hours. Alexander live-streamed the whole thing on social media. In a video posted on TMZ, Alexander can be seen storming inside Spears’s home and going in multiple rooms looking for the singer. Eventually he goes inside the tent where she and Asghari will soon say “I do.” Alexander tells his Instagram followers he’s… Source link

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