U.S. Consumer Sentiment Improves Less Than Initially Estimated In December
WASHINGTON (dpa-AFX) - A report released by the University of Michigan on Wednesday showed U.S. consumer sentiment improved by less than initially estimated in the month of December.
The report said the consumer sentiment index for December was downwardly revised to 80.7 from the previously reported 81.4.
While economists had expected a more modest downward revision to 81.3, the index remains well above the final November reading of 76.9. The Sentiment Index slipped in late December, although it remained higher than last month despite the ongoing surge in covid infections and deaths, said Surveys of Consumers chief economist Richard Curtin.
Dollar Loses Ground Against Rivals
WASHINGTON (dpa-AFX) - The U.S. dollar lost ground against its peers on Wednesday, reacting to a slew of economic data, the latest updates on Brexit trade deal talks, and U.S. fiscal stimulus.
On the stimulus front, President Donald Trump slammed the bill passed by the Congress on Tuesday as a disgrace. In a video posted on Twitter, Trump called on Congress to amend the bill to increase the direct payments to individuals to $2,000 from $600 and get rid of the wasteful and unnecessary items.
Democrats expressed support for increasing the size of the direct payments, but the idea is likely to face resistance in the Republican-controlled Senate.
4:11 AM MYT CHICAGO, Dec. 23 (Xinhua) Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday as negative U.S. economic data supported the precious metal. The most active gold contract for February delivery rose 7.8 U.S. dollars, or 0.42 percent, to close at 1,878.1 dollars per ounce. The University of Michigan on Wednesday put its consumer sentiment index at 80.7 in December, down from last December s 99.3. The U.S. Department of Commerce reported that consumer spending dropped by 0.4 percent in November after increasing 0.3 percent in October, the first drop in consumer spending in seven months. Market analysts hold this represents a worrying sign for the U.S. economy.
State budget director Chris Kolb named next vice president for government relations at University of Michigan
Updated Dec 18, 2020;
Posted Dec 18, 2020
Chris Kolb has been named the next vice president for government relations at the University of Michigan. He will assume the role effective Jan. 19, 2021.University of Michigan
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ANN ARBOR, MI The University of Michigan on Friday named Chris Kolb its next vice president of government relations.
Kolb, who currently serves as Gov. Gretchen Whitmer’s state budget director, has more than 20 years of experience in public service, both in the government and nonprofit sectors, according to a university release. He has also spent three terms in the Michigan House of Representatives, the release states.
The US stocks finished mostly lower for second day in row on Friday, 11 December 2020, with Dow Jones Industrial Average clinging gains while the S&P 500 and technology-heavy Nasdaq Composite settled lower as talks on a Covid-19 relief package faced setbacks and fresh business restrictions were unveiled.
At the close of trade, the Dow Jones Industrial Average index added 47.11 points, or 0.16%, to 30,046.37. The S&P 500 index dropped 4.64 points, or 0.13%, to 3,663.46. The tech-heavy Nasdaq Composite Index fell 27.94 points, or 0.23%, to 12,377.87. For the week, the S&P 500 and Dow lost 1% and 0.6%, respectively, meanwhile, the Nasdaq shed 0.7%.
The mixed performance on Wall Street came amid slowed stimulus progress. Democrats and Republicans remained gridlocked on dueling stimulus proposals, with main sticking points including liability protections for businesses from COVID-19 related lawsuits and an extension of federal unemployment benefits.