Bloomberg Markets
South Africa will likely reap the smallest wheat crop since 2019 this year, with a government body expecting output to drop 7.5% from a year earlier.
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Bloomberg Markets
July’s personal income and outlays report indicates the underlying pace of inflation increased relatively modestly.
Real spending also came in soft. The weakness was exaggerated by temporary factors such as the earlier-than-usual Amazon Prime Day, but the concentration of spending in essentials suggests the underlying pace of spending has decelerated.
Michael Ball, Macro Strategist with Bloomberg News, reacts to the PCE data. (Source: Bloomberg)
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Bloomberg Markets
On this episode of Stock Movers:
- Intuit (INTU) shares are down after the tax-preparation software company gave a full-year forecast for both adjusted earnings and revenue that was weaker than expected.
- Abercrombie & Fitch (ANF) is climbing as it raised its outlook for the year after logging higher second-quarter profit and sales, driven by improving demand across multiple geographies.
- JM Smucker (SJM) shares are rising as it raised its full-year outlook for sales and profit, buoyed by gro