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Traders work on the floor of the New York Stock Exchange in New York City, on Sept. 21, 2022. (Michael M. Santiago/Getty Images) Wholesale inflation rose by 8 percent in annual terms and 0.2 percent in monthly terms in October, suggesting inflationary pressures for consumers are far from dissipated, but stocks rallied on the opening bell as investors thought the price data would be worse.
Investors expected that inflation from the perspective of business input costs, as measured by the Producer Price Index ( PPI ), would rise 8.3 percent in the 12 months through October , and by 0.5 percent month over month .
But data released on Nov. 15 by the Bureau of Labor Statistics (BLS) came in slightly cooler, at 8 percent year over year and 0.2 percent month over month, sending Wall Street’s main indexes higher as the lower-than-expected numbers bolstered bets that the Federal Reserve would slow its pace of rate hikes.
At the opening bell, the Dow Jones Industrial Average rose 219.2 points, or 0.65 percent, to 33,755.94. The S&P 500 Index rose 49.2 points, or 1.24 percent, to 4006.41, while the Nasdaq Composite rose 278.6 points, or 2.49 percent, to 11,474.82 after the markets opened.
Producer prices tend to be a leading indicator of consumer price inflation as some portion of business input costs get passed along to consumers. Peak Inflation?
The lower-than-expected wholesale price acceleration data prompted a number of analysts to suggest inflation is slowing.
“Oct. PPI came in way below expected. That’s the second data point in a row to suggest inflation has cooled,” Gary Black, managing partner at The Future Fund LLC, said in a post on Twitter .
The other data point Black was referring to was the recently released Consumer Price Index (CPI), which showed prices rising at 7.7 percent in the […]
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Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
JD Rucker