Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Markets

5 Sept 2021

U.S. Retail Sales May Rise with Schools Opening

The Index Today

A strong sales from the autumn back to school could provide U.S. retailers some needed driving power after many sector shares fallback the larger market in the last recent months.

According to the data, the S&P 500 retailing index, which includes Amazon.com Inc, is up just about 2% for the quarter so far, compared with a 6% gain in the S&P 500. Some retailers, including Macy's Inc and Walmart Inc, mentioned a good back-to-school data recently as they increased annual U.S. sales forecasts, but further sales data and the U.S. August retail report are expected later this month to increase as well.
With the help of advance child tax credits and stimulus checks related to the pandemic, some consumers have had extra cash to load up on backpacks and other school supplies.

Most schools in the US are now returning this year in a classroom set up after months of remote learning. On Sept. 13, New York City's public schools will reopen and the other metro area schools begin in the days after the Labor Day weekend.

Clay pottery with table linens