Funding & Business
US Economy Is Slowly Grinding to a Halt, Kelly Says
David Kelly, JPMorgan Asset Management chief global strategist, says the US economy is grinding to a halt, but the weekly jobless claims were probably an “overshoot.” He speaks on “Bloomberg Surveillance.” (Source: Bloomberg)
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The preliminary September consumer sentiment index declined to 55.4 from 58.2 in August, according to the University of Michigan. That was below all but one economist’s forecast in a Bloomberg survey. Mike McKee reports on “Bloomberg Open Interest.”
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RH is trimming its full-year outlook citing pressure from tariffs and a slow housing market, the CEO says he is not afraid to push back against the Trump administration. The luxury furniture store will have to introduce steep discounts to keep consumers onboard, reports Bloomberg’s Shelly Banjo. (Source: Bloomberg)
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Apple Inc. was hit with a pair of downgrades on Thursday, in the latest sign of caution toward the iPhone maker, a day after revealing the new lineup of iPhones. One analyst says the new products “left us uninspired.” Bloomberg’s Mark Gurman reports. (Source: Bloomberg)
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