latest news in economy
Solar Outshines Wind in U.S. Electricity Generation
Washington, D.C., Friday, 15 November 2024.
In a historic shift, solar power surpassed wind energy in monthly U.S. electricity generation for the first time. This milestone, occurring in July and August 2024, marks a significant transformation in the renewable energy landscape, potentially influencing future energy strategies and investments.
U.S. Retail Sales Surge in October, Driven by Auto Purchases
Washington, D.C., Friday, 15 November 2024.
October 2024 saw a notable 0.4% increase in U.S. retail sales, primarily fueled by a jump in automobile purchases. This uptick signals positive consumer spending momentum as the holiday shopping season approaches, despite economic pressures.
Global Forex Market Set to Surge: $1 Trillion Milestone by 2028
New York, Friday, 15 November 2024.
The foreign exchange market is poised for remarkable growth, projected to reach $1,023.91 billion by 2028 with a 6.5% annual increase. Advanced trading platforms and rising international transactions are driving this expansion, reshaping the world’s largest financial market.
Fed Chief Powell Signals Cautious Approach to Rate Cuts
Washington D.C., Thursday, 14 November 2024.
Federal Reserve Chair Jerome Powell indicates a slow, deliberate approach to interest rate reductions in 2025. Despite inflation nearing the 2% target, persistent pressures and economic strength allow for careful monitoring. Economists anticipate fewer cuts than initially expected, highlighting the delicate balance in managing inflation and economic growth.
Global Oil Market Faces Surplus in 2025, IEA Reports
Paris, Thursday, 14 November 2024.
The International Energy Agency forecasts a global oil surplus exceeding 1 million barrels per day in 2025. This projection, driven by weak Chinese demand and rising non-OPEC+ supply, could significantly impact oil prices despite ongoing geopolitical tensions.
Cloud Services Market Set to Soar: $2.5 Trillion by 2031
Global, Thursday, 14 November 2024.
The cloud services market is projected to grow from $551.8 billion in 2021 to $2.5 trillion by 2031, with a CAGR of 16.6%. This explosive growth is driven by AI implementation, cost benefits in developing economies, and increased demand for secure, agile computing solutions across industries.
AI Revolution Reshapes Fuel Station Market in 2024
Global, Thursday, 14 November 2024.
The gasoline stations market is undergoing a significant transformation, driven by AI-powered technologies. These innovations are enhancing service efficiency and reshaping customer experiences. Industry forecasts predict substantial changes by 2033, with smart infrastructure and digital transactions leading the way.
Energy Management Systems Market Set to Surge to $106.3 Billion by 2028
Global, Thursday, 14 November 2024.
The global energy management systems market is projected to experience robust growth, reaching $106.3 billion by 2028 with a 16.5% CAGR. This surge is driven by increasing demand for energy efficiency solutions, renewable energy integration, and net-zero objectives across industries.
Equity Bull Market Resilience: Indicators Point to Continued Growth
United States, Thursday, 14 November 2024.
The current equity bull market, which began in October 2022, shows signs of sustainability. Key indicators such as strong economic fundamentals and the absence of risky asset investments suggest potential for further growth. Recent Fed rate cuts may extend the rally, particularly benefiting small caps and value stocks.
Solar Stocks Plummet as Trump's Re-election Sparks Industry Uncertainty
New York, Wednesday, 13 November 2024.
Solar stocks experienced a sharp decline following Donald Trump’s 2024 election victory, with the Invesco Solar ETF falling 11%. Industry leaders argue the market reaction is overly emotional, citing the resilience of clean energy initiatives and manufacturing investments in Republican districts.