Hedge Funds Keep Cutting Bullish Wagers on Commodities yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
The number of people below the poverty line has increased from 6 crore to 13.4 crore due to Covid (Pew Research ). The middle class has shrunk by 3.2 crore due to the pandemic (Pew Research).
Global commodity prices continue to surge higher as the one-way streak persists off the back of a global growth story and a stronger than anticipated economic recovery.
Possible inflation fueled by surging prices of commodities like iron, copper and oil－that's the prime-time market buzz around the world these days; and investors, it seems, can't overanalyze the goings-on in major economies such as the United States and China against a global backdrop of geopolitical tensions and waves of havoc wreaked by the obstinate COVID-19 pandemic.
5/24/2021 7:16:49 PM GMT
American Consumer Confidence expected to retreat in May.
Inflation, racing gasoline prices may have undermined optimism.
Michigan Consumer Sentiment unexpectedly declined in May.
Retail Sales, Control Group, were weaker than forecast in April.
The US labor market is overflowing with work. In March 8.1 million positions were on offer in the Job Openings and Turnover Survey (JOLTS), the most on record. Unfilled jobs were likely even higher in April as barely one-quarter of the projected million hires took place.
The pandemic is ending. The US has had one of the most successful vaccination campaigns in the world. Lockdowns are over, the economy is expected to soar at 6.5% or more this year.