#Wall Street’s favorite recession indicator is flashing red

#Wall Street’s favorite recession indicator is flashing red

“Wall Street’s favorite recession indicator is flashing red” A closely watched recession predictor in the bond market just flashed red, spurring fresh concern that the US economy is on track for a downturn this year as a result of the Federal Reserve’s war on inflation. The spread between the 2-year and 10-year Treasury yields inverted this week…

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#Compass, Redfin to lay off hundreds as housing market cools

#Compass, Redfin to lay off hundreds as housing market cools

“Compass, Redfin to lay off hundreds as housing market cools” Real estate firms Compass and Redfin revealed plans to conduct layoffs on Tuesday as surging mortgage rates trigger a slowdown in the once-booming housing market. Redfin’s regulatory filing cited “market conditions” in the firm’s decision to cut the company’s headcount by about 470 employees, with…

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#Eric Adams and AOC in proxy war over Albany

#Eric Adams and AOC in proxy war over Albany

“Eric Adams and AOC in proxy war over Albany” Mayor Eric Adams is putting his political muscle behind veteran state Assembly incumbents being challenged by socialist insurgents egged on by Rep. Alexandria Ocasio-Cortez in the upcoming June 28 Democratic primary. Adams on Tuesday endorsed the re-election of Harlem Assemblywoman Inez Dickens, one of the first…

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#Billionaire Leon Cooperman calls cryptocurrency ‘crap’

#Billionaire Leon Cooperman calls cryptocurrency ‘crap’

“Billionaire Leon Cooperman calls cryptocurrency ‘crap’” Stocks still have further to fall, billionaire investor Leon Cooperman warned on Tuesday — adding that speculative assets such as SPAC deals, cryptocurrencies and NFTs are “crap” and aren’t likely to recover anytime soon. Cooperman, the chairman and CEO of Omega Advisors, said he sees the US economy falling…

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#Labor talks at West Coast ports hit snag amid automation issues

#Labor talks at West Coast ports hit snag amid automation issues

“Labor talks at West Coast ports hit snag amid automation issues” Labor negotiations between dock workers and the West Coast port operators have hit a snag, with experts speculating that clashes over automation are partly to blame. Despite meeting with President Biden on Friday, the International Longshore and Warehouse Union – representing some 22,000 dockworkers…

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