Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Record 80 million Americans expected to travel for Thanksgiving holiday
Americans are expected to set a new record for Thanksgiving travel, with nearly 80 million to hit the roads, catch flights and board cruises over the holiday period, travel group AAA said on Monday.
US business owners sound off on impact of potential Trump tariffs
The impact of potential tariffs on imports in Donald Trump’s second presidential administration is causing business owners across different sectors to re-evaluate how they would operate in such an economic environment.
Trump’s return could extend US stocks’ dominance over global rivals
U.S. stocks are extending their lead over global peers and some investors believe that dominance could grow if President-elect Donald Trump can implement his economic platform without becoming mired in a full-blown trade war or ballooning the federal deficit.
Fed officials wary of inflation risks as they weigh more rate cuts
After a scare earlier this year that the U.S. labor market might be cooling too fast, some Federal Reserve policymakers are shifting their attention back to inflation risks as they weigh when, and how fast and far, to cut interest rates.
US economic output hits highest level since April 2022 amid ‘greater optimism’ among businesses
US economic output is roaring as businesses prepare for lower interest rates and the incoming Trump administration in Washington. S&P Global’s flash US composite PMI, which captures activity in both the services and manufacturing sectors, came in at 55.3 in November, up from 54.1 in October. Economists had expected the index to tick up to 54.3. November’s S&P composite PMI signaled the fastest expansion of business activity since April 2022.
The Trump economic awakening
Political scientists will debate the forces that shaped Donald Trump’s victory, but one thing is clear: Americans yearn for a change in economic policy.
Treasury yields slip amid rising Ukraine-Russia tensions
U.S. Treasury yields slipped on Tuesday as tensions between Ukraine and Russia increased. The yield on the 10-year Treasury was lower by more than 2 basis points at 4.392%. The 2-year Treasury was down less than a basis point to 4.282%. The rise in yields came as investors flooded into the asset as a safe haven amid rising geopolitical tensions.
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