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Sep 13 2024
News
US consumer loan delinquencies starting to plateau, bankers say
NEW YORK, Sept 13 (Reuters) - U.S. consumers' late payments on credit cards and other loans are starting to level off in recent months after rising earlier in the year, bankers and industry analysts said this week. The trend contrasts with recent data showing a surge in credit card loans being written off across the industry, as some Americans get back on a firmer financial footing. "Tighter
Reuters
Sep 12 2024
News
DoorDash Stock: Analyst Sees Big Market For Consumer Convenience
DoorDash is the IBD Stock of the Day for Thursday. Shares are approaching a cup-with-handle buy point as the app-based food and grocery delivery company continues to show strength despite concerns about the consumer economy. On the stock market today, DoorDash (DASH) is down a fraction at 129.70 in recent action. Shares are just below a 131.21 handle buy point, according to MarketSurge.
Investor's Business Daily
Aug 26 2024
News
German Consumer Confidence To Worsen In September
German consumers are feeling more pessimistic heading into September, a key survey showed Tuesday, as concerns about jobs and wages add to a gloomy outlook for Europe's largest economy. The survey of around 2,000 people showed that consumer morale "suffered a severe setback" compared to a month earlier, according to pollsters GfK and the Nuremberg Institute for Market Decisions (NIM). The
Barron's
Sep 11 2024
News
TD Bank fined by U.S. regulators for faulty consumer reports
The U.S. Consumer Financial Protection Bureau has ordered TD Bank Group to pay US$28 million for repeatedly sharing inaccurate, negative information about its customers in the latest reprimand of the bank by regulators. The U.S. regulator said Wednesday that TD has to pay US$7.76 million in total to tens of thousands of victims of its illegal actions, along with a US$2-million civil penalty.
Todays Chronic
Sep 11 2024
News
US Consumer Inflation Eases To 2.5% In August: Official Data
US consumer inflation eased more than expected last month, according to government data published Wednesday, likely bolstering calls for the Federal Reserve to cut interest rates next week.
The consumer price index (CPI) slowed to 2.5 percent in August from a year ago, down from 2.9 percent in July and the lowest annual figure since February 2021, the Labor Department said in a
Barron's
Sep 10 2024
News
Ally Drops After CFO Flags Consumer Stress, Underperformance
Ally Financial Inc. fell after Chief Financial Officer Russ Hutchinson highlighted intensifying credit deterioration among its borrowers and said the auto-lender may experience some underperformance.
Borrowers have shown signs of vulnerability throughout the year and August US jobs data underscored those stresses, according to Hutchinson. The pain is mostly linked to the firm’s retail
Bloomberg
Sep 09 2024
News
Goldman Finds "Thrift Trends Outperform" Amid Consumer Slowdown
Goldman Finds "Thrift Trends Outperform" Amid Consumer Slowdown Goldman cited new data in a note to clients on Monday from Placer.ai, a startup that tracks and analyzes foot traffic from mobile devices at brick-and-mortar retailers. The data revealed that consumers continue trading down to 'off-price' stores as elevated inflation and high interest rates financially squeeze low- and mid-tier
ZeroHedge
Sep 04 2024
News
Goldman Says Retailers Focused on Consumer Spending, Tariffs
As retail executives convene at Goldman Sachs Group Inc.’s 31st Annual Global Retailing Conference this week, confronting discerning shoppers and potential tariffs is top of mind for companies, according to analyst Kate McShane .
There are questions around what tariff policies will look like after the US presidential election in November, and retailers will likely have to assess their
Bloomberg
Sep 08 2024
News
China Consumer Prices Inch Up as Deflation Fears Linger
China’s consumer prices rose less than expected last month, adding to signs policymakers are struggling to get households spending as the annual growth target comes under pressure.
The consumer price index increased 0.6% from a year earlier, the National Bureau of Statistics said Monday. That compares with an increase of 0.5% in July and a median forecast of 0.7% in a Bloomberg survey
Bloomberg