Whats up my fellow peers, I am back this year to bring the Oratory Prep community some recent news in economics.
Starting off, unemployment dropped to 4.1% due to an additional 254,000 jobs in September, which exceeded expectations. On top of the falling unemployment the deferral reserve cut rates from 5.33% to 4.83% for a cut of .5%. The cut in rates can help people borrow money which can blister the economy.
Over the last month, oil prices have surged as turmoil in the Middle East has escalated with new conflict between Iran and Israel. However, a decrease in the oil demand has decreased the gas price. Prices have dropped enough to see that gas prices are under $3 in NJ.
US port workers went on strike from Maine to Texas in the hope of better compensation and better working conditions. They were able to sign a contract extension which prevented any harm that could be done to the shipping industry.
Finally, the presidential debate is heating up with the election in a few weeks. With a recent debate between the potential Vice Presidents Tim Walz and JD Vance, there is more excitement around the next president and vice president are going to be. During the Vice Presidential debate, we saw a level of respect and unity which is nice to see between both Republicans and Democrats.
Finally My stock tips for the week. All losses or gains cannot be blamed on me or the Oratory Prep community. These are just suggestions.
- Raytheon
- Netflix
- CA