Hi, everyone. Today we’re looking at the stats coming out of the recent Amazon Prime Day, and the results show that they outperformed both their Black Friday and Cyber Monday sales – combined. Low-interest rates have shown to have driven consumer spending, boosting bank earnings at JPMorgan, Well Fargo, and Citigroup. With the anticipated rate cuts to come from the Federal Reserve, we take a closer look at how this controversial decision contrasts against an economy that is already spending big. And promising statistics show that homeowners are paying off their mortgages at higher rates than 10 years ago.
The company said sales from its two-day shopping event surpassed its sales for last year’s Black Friday and Cyber Monday combined. Amazon didn’t reveal specific figures, like revenue. It also doesn’t typically disclose numbers for specific shopping days, with the only glimpse of sales being in its quarterly earnings.
Credit cards, other consumer units boosted results at JPMorgan, Wells Fargo, Citigroup as Goldman slumped
At the end of this month, the Federal Reserve will decide once again what to do about interest rates. Virtually everyone thinks it will cut. But while the expectation is nearly unanimous, it certainly isn’t uncontroversial.
Across the country, laws that regulate how and why a salesperson can sell you a financial product (insurance, stocks, financial plans, etc.) are changing in attempt to protect consumers.
About 37% of U.S. households are “free and clear” of a mortgage to pay.