Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets.
M. Holland will be closed Monday, Jan. 2 for the New Year’s holiday.
Oil prices rose 3% Friday, notching their second straight week of gains after Moscow warned it might cut crude output.
Late Monday, WTI climbed above $80/bbl and Brent rose above $85/bbl after China announced it will ease quarantine restrictions for inbound travelers and a severe winter storm settled across much of the U.S. In mid-morning trading today, WTI futures were up 1.4% at $80.65/bbl, Brent was up 1.2% at $84.90/bbl, and U.S. natural gas was up 1.8% at $5.17/MMBtu.
Government and analyst projections show Russia’s crude and natural-gas output falling sharply in the months ahead due to tightened sanctions from the West. Insurance issues, meanwhile, will hamper seaborne exports.
Airline woes hit Southwest the hardest, with about 80% of its flight schedule remaining canceled or delayed Monday, a situation that continued to worsen while other airlines fared better at the start of the week.
PJM, a massive electric grid stretching from Illinois to New Jersey, declared a system-wide emergency and ordered some customers to curtail demand.
Tesla doubled discounts to a total of $7,500 for its two highest-volume models in the U.S., adding to indications that the automaker is struggling with demand.
Toyota’s global car output rose 1.5% in November to a record 833,104 units, led by solid demand in North America. The automaker said its outlook remained uncertain, however, due to chip shortages and COVID-19 cases in China.
U.S. life expectancy fell to 76.4 years in 2021, a 26-year low largely due to COVID-19, the CDC said. Meanwhile, the nation’s population grew 0.4% this year, continuing a streak of historically slow growth suppressed by the pandemic.
U.S. consumer spending rose 0.1% in November, a pullback from the robust 0.9% increase in October:
The Federal Reserve’s preferred gauge of inflation rose 5.5% in November from a year earlier, the slowest pace in over a year:
Orders for U.S. manufactured goods sank 2.1% in November, one of the sharpest decreases since the beginning of the pandemic in another sign of slackening demand, new data shows:
The one-year inflation outlook among consumers fell to 4.4% this month from 4.9% in November, the lowest in 18 months, according to the University of Michigan.
U.S. retail sales rose 7.6% between Nov. 1 and Dec. 24 as steep holiday discounts lured deal-hungry customers, according to Mastercard.
Over $760 million in retail purchases were returned in 2021, new data shows, up from $309 million in 2020.
Midwest egg prices hit a record $5.36 a dozen this month, up 30% year-to-date, as an avian-flu outbreak shrinks flocks across the U.S.
U.S. restaurant employment is only about 2.1% down from pre-pandemic levels, new data shows.
Sales of new single-family homes rose for a second month in November as Americans took advantage of a retreat in mortgage rates, even as the overall housing market remained depressed. The number of U.S. homes for sale is down 29% nationwide in the five years that ended in October.
China is likely seeing the world’s largest COVID-19 outbreak with up to 37 million people infected on a single day last week, according to records from the government’s top health authority. As much as 18% of the nation’s population likely caught the virus in the first three weeks of December, causing economic activity in major cities to plummet.
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