Tag Archives: fourth

Jacob Murphy nets fourth Newcastle goal against Everton | Premier League | NBC Sports – NBC Sports

  1. Jacob Murphy nets fourth Newcastle goal against Everton | Premier League | NBC Sports NBC Sports
  2. Everton FC 1-4 Newcastle: Match Summary & Instant Reaction | The door to the Championship is opening. Can we … Royal Blue Mersey
  3. Newcastle United squad stance on Anthony Gordon emerges from behind the scenes ahead of Everton return Goodison News
  4. Callum Wilson strikes first for Newcastle against Everton | Premier League | NBC Sports NBC Sports
  5. Thursday’s Everton News: Newcastle preview, Gordon’s return, Mina exit Royal Blue Mersey
  6. View Full Coverage on Google News

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March Madness live updates: Va. Tech leads Ohio State in fourth quarter; South Carolina back in Final Four – The Washington Post

  1. March Madness live updates: Va. Tech leads Ohio State in fourth quarter; South Carolina back in Final Four The Washington Post
  2. NCAA Women’s Tournament Elite Eight scores: Virginia Tech heads to Final Four, joins South Carolina, LSU, Iowa CBS Sports
  3. Get to know Gamecocks coach Dawn Staley as USC women’s basketball team is set to play in Elite 8. The State
  4. South Carolina’s Dawn Staley praised for calling timeout Fox Carolina
  5. Is Brea Beal related to Bradley Beal? What to know about South Carolina basketball star Sporting News
  6. View Full Coverage on Google News

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GameStop Reports Fourth Quarter and Fiscal Year 2022 Results – Business Wire

  1. GameStop Reports Fourth Quarter and Fiscal Year 2022 Results Business Wire
  2. GameStop stock soars after retailer posts first quarterly profit in two years CNBC
  3. GameStop stock ‘volatility is still there’ while short positions have eased: Analyst Yahoo Finance
  4. Why AMC Entertainment Stock Is Rising After Hours – AMC Enter Hldgs (NYSE:AMC) Benzinga
  5. Latest Stock Market News Today: Yellen vows bank support, First Republic stock in focus, Tesla shares jump, Nike and GameStop report quarterly earnings. | March 21, 2023 | Live Updates from Fox Business
  6. View Full Coverage on Google News

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Disney Being “Very Careful” With Star Wars Movie Development, CEO Bob Iger Says; Marvel Brand Not “Inherently Off,” But “Do You Need A Third Or Fourth” Sequel For Every Character? – Deadline

  1. Disney Being “Very Careful” With Star Wars Movie Development, CEO Bob Iger Says; Marvel Brand Not “Inherently Off,” But “Do You Need A Third Or Fourth” Sequel For Every Character? Deadline
  2. Bob Iger Questions Marvel Sequels, Need to Bring Back Characters: ‘You’re Going to See a Lot of Newness’ Yahoo Entertainment
  3. Bob Iger: Disney Will Reduce Costs on Films, TV Shows to Focus on Quality, Not Volume Hollywood Reporter
  4. Disney CEO Bob Iger Thinks Sports Betting is ‘Inevitable’ Future of Business WDW News Today
  5. Bob Iger Says Disney Is Being Very Careful With Star Wars Film Development Disney Plus Informer
  6. View Full Coverage on Google News

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Succession star Nicholas Braun opens up about the series coming to an end after the fourth season – Daily Mail

  1. Succession star Nicholas Braun opens up about the series coming to an end after the fourth season Daily Mail
  2. ‘Succession’ Star Nicholas Braun Addresses Series Coming to an End: “We’re All Pretty Bummed” Hollywood Reporter
  3. Nicholas Braun Was ‘Sad as Hell’ Wrapping ‘Succession’ Season 4 but Promises Finale Is ‘Fire’ IndieWire
  4. ‘Succession’ Star Nicholas Braun Reveals How the Cast Feels About the Series Ending (Exclusive) Entertainment Tonight
  5. ‘Succession’ Star Nicholas Braun Rocked a Sharp Paul Smith Sharkskin Suit at the Independent Spirit Awards Robb Report
  6. View Full Coverage on Google News

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Ryan Reynolds Joked That His And Blake Lively’s House Has Turned Into A “Zoo” As He Opened Up About Their Fourth Baby For The First Time – BuzzFeed News

  1. Ryan Reynolds Joked That His And Blake Lively’s House Has Turned Into A “Zoo” As He Opened Up About Their Fourth Baby For The First Time BuzzFeed News
  2. Ryan Reynolds Says Blake Lively and New Baby Are ‘Doing Fantastic’ PEOPLE
  3. Ryan Reynolds Shares How Blake Lively Is Doing After Welcoming Baby No. 4 E! NEWS
  4. Ryan Reynolds Gives Update After Welcoming Fourth Child With Blake Lively Parade Magazine
  5. Ryan Reynolds Says His House Is a ‘Zoo’ After Blake Lively Gave Birth to Baby No. 4: ‘We’re Very Excited’ Us Weekly
  6. View Full Coverage on Google News

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Manchester City v Arsenal: FA Cup fourth round – live | FA Cup

All that attacking talent on the field, and Nathan Ake breaks the deadlock.

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Man City 1-0 Arsenal (Ake 64)”,”contributors”:[],”primaryDateLine”:”Fri 27 Jan 2023 21.29 GMT”,”secondaryDateLine”:”First published on Fri 27 Jan 2023 18.30 GMT”},{“id”:”63d438ae8f0828070504dfac”,”elements”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”

That’s the end of a first half that was bizarrely sleepy at times, particularly when City had the ball. I’m struggling to make sense of it all.

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A much changed Arsenal had the better chances, with Stefan Ortega saving well from the lively Leandro Trossard and Eddie Nketiah volleying wide. Kevin De Bruyne almost scored a peach for City, but there was no rhythm in their play and Erling Haaland spent most of the half having a wrestling match with Rob Holding.

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Pep Guardiola has picked a very strong City side, with only two changes from the team that beat Wolves last weekend. Stefan Ortega replaces Ederson in goal; Nathan Ake comes into the defence in place of Aymeric Laporte. We don’t yet know whether City will play 4-1-2-3 or Pep’s new favourite formation, 3-2-2-3.

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Mikel Arteta has picked more of a hybrid Arsenal side, with six changes from the rousing win over Manchester United. Matt Turner, Takehiro Tomiyasu, Rob Holding, Kieran Tierney, Fabio Vieira and Leandro Trossard – making his full debut – replace Aaron Ramsdale, Ben White, William Saliba, Oleksandr Zinchenko, Martin Odegaard and Gabriel Martinelli. All six are on the bench, as is Arsenal’s other new signing Jakob Kiwior.

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Manchester City (possible 4-1-2-3) Ortega; Lewis, Stones, Akanji, Ake; Rodri; De Bruyne, Gundogan; Mahrez, Haaland, Grealish.
Substitutes: Ederson, Walker, Dias, Phillips, Cancelo, Laporte, Alvarez, Bernardo, Palmer.

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Arsenal (4-1-2-3) Turner; Tomiyasu, Holding, Gabriel, Tierney; Partey; Vieira, Xhaka; Saka, Nketiah, Trossard.
Substitutes: Ramsdale, White, Zinchenko, Saliba, Kiwior, Lokonga, Odegaard, Marquinhos, Martinelli.

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Referee Paul Tierney.

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To coin a phrase, 391 days is a long time in football. When Manchester City last met Arsenal, pilfering a 2-1 win at the Emirates on New Year’s Day 2022, the landscape of English football was exceedingly different. Manchester City were the runaway leaders and Arsenal were brawling, ultimately in vain, for fourth place.

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Thirteen months is a long time for two big teams to go without playing each other. In that period, and particularly since Arsenal’s flying start to the season, anticipation has grown for the next meeting between City and the emerging Mini-City. It should have happened in the Premier League on 19 October, but that game was postponed for reasons too boring to explain when you can just use a hyperlink like this to do the job.

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The upshot is that City and Arsenal will meet at least three times in the next three months – tonight’s FA Cup fourth round tie, then a league game at the Emirates on 15 February and another (save the date because it could be all kinds of epic) at the Etihad on 26 April. There will also be a cup replay if they draw tonight.

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The league games are the big ones, and it’s hard to know just what tonight’s game is all about. Is it a chance to make a statement in the title race? A cracking FA Cup tie in its own right? A test of squad depth? A test of Pep Guardiola and Mikel Arteta’s friendship? An inconvenience that it might be beneficial to lose, especially for Arsenal? The start of English football’s new favourite rivalry?

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One thing we can all agree on: with a respectful nod to Brighton v Liverpool, this is emphatically the tie of the round.

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Kick off 8pm.

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Key events

67 min: Great defending from Laporte! Xhaka, in the inside-left channel, curls a stunning cross towards Nketiah at the far post. He is shaping to shoot – and almost certainly score – when Laporte stretches to poke the ball behind for a corner. Fantastic defending.

66 min: Double substitution for Arsenal Oleksandr Zinchenko and Gabriel Martinelli replace Kieran Tierney and the impressive Leandro Trossard.

It all started when Alvarez turned, 25 yards from goal, and crashed a superb shot that beat Turner and hit the far post. Grealish collected the rebound, protected the ball for a few seconds and then laid it back to the supporting Ake, 12 yards out. Ake had to shoot first time, with Saliba coming to meet him, and he gently passed the ball across Turner and into the far corner. That was such a calm, precise finish.

GOAL! Man City 1-0 Arsenal (Ake 64)

All that attacking talent on the field, and Nathan Ake breaks the deadlock.

Nathan Ake breaks the deadlock! Photograph: Jason Cairnduff/Action Images/Reuters

64 min Apparently Thomas Partey took a knock to the ribs in the first half, so I’d imagine he was substitute as a precaution.

62 min Mikel Arteta will be thrilled with how comfortable Arsenal have been so far. It’s not quite a reverse side, but it’s not far off – at the moment they have four of their best XI on the field, and they have been the equal of City.

61 min City have changed shape slightly – Alvarez is playing behind Haaland, with De Bruyne to the right and Grealish on the left.

60 min “In their last game against Arsenal, City’s only shot on target before their stoppage time winner was a penalty,” says Zach Neeley. “They have zero so far today. If Arsenal are heading toward another moral victory, I hope it’s to get it out of their system, because after today those won’t be good enough.”

59 min A long ball forward is headed up in the air by Nketiah on the edge of the area. It drops for Vieira, who swishes a volley wide of the far post. He had the time to take a touch there.

58 min: Double substitution for City Kyle Walker and Julian Alvarez replace Rico Lewis and Riyad Mahrez.

55 min Turner is okay to continue and makes an important save from De Bruyne’s sliderule cross. Haaland was waiting behind him to score.

City are starting to look better in attack.

54 min The Arsenal goalkeeper Matt Turner has hurt his left shoulder and is receiving treatment.

Matt Turner receives medical attention after sustaining a shoulder injury. Photograph: Molly Darlington/Reuters

52 min Mahrez clips a nice pass into Lewis, running into space on the right side of the area. He tries to hook the ball across goal from a tight angle but screws it into the side netting.

51 min City break promisingly. De Bruyne plays a through pass to Haaland, who is sandwiched by Tomiyasu and Saliba in the area. He sends Tomiyasu flying with a shoulder charge but Saliba clears the danger.

50 min “I really ought to have known that Richard Rodgers wrote the music to both Blue Moon and You’ll Never Walk Alone, which got me thinking if other clubs might use some of his melodies too,” says Gary Naylor. “So far, I’ve only got Sean Dyche being asked about how many signings he needs before Monday night and replying, ‘Sixteen Going On Seventeen.’”

49 min The second half has started as the first finished, and that’s not a compliment. The atmosphere is so flat.

47 min “I saw REM circa 86-87 in a gymnasium at the University of British Columbia,” says Allan Castle. “If I recall rightly the opening act was Guadalcanal Diary. Anyway, good show but my principal memory was Michael Stipe going on a several minute between-song diatribe about human rights in Central America.

“When he finished there was some scattered clapping, then silence, followed by the longhair guy standing next to me on the floor shouting ‘ROCK AND ROLL!’ – a command rather than a comment. Welcome to BC.”

Michael Stipe in 1987, presumably updating the crowd on the Contra situation in Nicaragua. Maybe. Photograph: Frans Schellekens/Redferns

46 min Peep peep! Erling Haaland gets the second half under way.

Mikel Arteta has made two half-time changes Albert Sambi Lokonga and William Saliba are on for Thomas Partey and Rob Holding. No word yet on whether Partey has an injury.

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Half time: Man City 0-0 Arsenal

That’s the end of a first half that was bizarrely sleepy at times, particularly when City had the ball. I’m struggling to make sense of it all.

A much changed Arsenal had the better chances, with Stefan Ortega saving well from the lively Leandro Trossard and Eddie Nketiah volleying wide. Kevin De Bruyne almost scored a peach for City, but there was no rhythm in their play and Erling Haaland spent most of the half having a wrestling match with Rob Holding.

45+4 min Actually, Laporte has only just come onto the field, as he wasn’t ready when Stones limped off.

45+3 min: City substitution Aymeric Laporte replaces the luckless John Stones.

45+2 min “These are the best two teams in England, Rob?” sniffs Simon McMahon. “I’ve switched over to Cove Rangers v Ayr United on the BBC Scotland channel. Still following the MBM of course, whilst listening to Document.”

Bukayo Saka challenges Jack ‘The 100 Million Dollar Man’ Grealish. Photograph: Tom Flathers/Manchester City FC/Getty Images

45+1 min Two minutes of added time. John Stones is down with what looks like a hamstring problem. That’s a bad blow for City – they have a lot of centre-halves but he has arguably been the best in the past 18 months.

John Stones pings his hamstring. Photograph: Michael Steele/Getty Images

45 min “Man City,” says Jeff Sax, “are playing like Pep’s pre-game interview.”

They’re just not right at the moment, are they?

43 min “That’s a wonderful photo of a sweaty Hulk Holding in close combat with Haaland Macho Man Savage,” says Peter Oh. “Have you got one of Rowdy Rodri Piper?”

Hulk Holding is a keeper.

42 min Holding is booked for his 48th shirt pull on Haaland, who was breaking into space.

39 min Ortega gets away with a nervous bit of goalkeeping. He came to the edge of his area to meet a strange backpass from Mahrez, booted the ball against Stones and then took out Nketiah in his follow through.

38 min: Chance for Haaland! Tierney, in the centre circle, slices a clearance towards his own goal. The last man Gabriel has a few yards on Haaland, who shows frightening speed to get to the ball first on the edge of the area. He lobs it over Turner and a few yards wide of the right-hand post. Having got to the ball, he probably should have done better.

Haaland has a half-chance for City. Photograph: Jason Cairnduff/Action Images/Reuters

37 min “Based upon your MBM so far (to watch this match in the US requires a $100/year subscription, sorry World’s Grandest Domestic Cup but it isn’t worth it!),” begins Alex Whitney, “is it fair to say there’s a significant degree of nominative determinism applying to the behaviours of Arsenal’s fourth-choice centre back?”

Heh, indeed, although I should stress it’s been a 50/50 wrestling match.

36 min Grealish swaggers infield, away from Tomiyasu, but his through pass towards Haaland is well read by Holding.

34 min “Greeting Rob from sunny, soggy northern California,” says Mary Waltz. “I saw REM at the Forum in LA on the Green Tour. Outstanding performance, they put on a show that filled the entire arena. The exact opposite of the Everton dumpster fire. Nothing in the transfer window so far allays my fear of relegation, Dyche is a nice guy but his hiring is a bit of a damp squib. Sigh.”

I know it’s not as exciting as Bielsa but I think he’s a perfect fit. And if he can’t sort out the mess, you really are in trouble.

33 min: Chance for Nketiah! Arsenal are the better team at the moment. Trossard surges down the left and arrows a cross to the near post, where Nketiah gets across Akanji but volleys wide from six yards. It came quickly and a slightly awkward height, but he’s good enough to take chances like that.

Eddie Nketiah goes close for Arsenal. Photograph: Oli Scarff/AFP/Getty Images

32 min “I’m old enough to remember the origins of the phrase ‘What’s The Frequency, Kenneth?’ dating back to 1986,” writes James. “Wondering if anyone else does…”

Crikey, I’d never heard that before. Who knew? You, obviously.

31 min Haaland has passed a concussion test and is going to continue.

30 min Now Haaland is down holding the back of his head, which was introduced to one of the bonier bits of Rob Holding’s right arm. I suspect he’d have been booked had the referee seen it.

Ouch, Erling Haaland goes down with a head injury. Photograph: Simon Stacpoole/Offside/Getty Images

29 min “The best soundtrack for a sporting event is cranking up The Who’s ‘I Can See for Miles’ when the first downhill skier leaves the start house at the Kitzbuhel Hahnenkahm,” writes Bob Best. “He’s exceeding 100 kph within a few seconds and hanging on for dear life. Breath-taking and head-banging at the same time.”

AND THAT’S NOT HEALTHY, IS IT.

28 min Holding and Haaland have spent most of the first half re-enacting WrestleMania IV. So far, Holding is winning.

Ooooh yeah!
Photograph: Jeffrey Asher/Getty Images

27 min After a cautious start, the game is starting to liven up a peedie bit.

25 min: Just wide from De Bruyne! That’s more like it from City. De Bruyne cuts inside from the right, 25 yards from goal, and shapes a delicious left-footed curler that flashes just wide of the far post. Turner wouldn’t have saved it.

23 min “Completely different mood, but here’s my favourite version of Blue Moon, by Canadian band Cowboy Junkies,” says Liz White. “They also do an extremely moody cover of Sweet Jane.”

21 min: Very good save from Ortega! Saka and Vieira moved the ball smoothly across the field to leave Trossard one on one with Lewis on the left side of the area. He beat Lewis with a pretty simple stepover and blasted a left-footed shot across goal that was beaten away by the flying Ortega. That’s a much better save than the first one.

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U.S. GDP Rose 2.9% in the Fourth Quarter After a Year of High Inflation

The U.S. economy grew at a solid 2.9% annual rate last quarter but entered this year with less momentum as rising interest rates and still-high inflation weighed on demand.

U.S. growth in the fourth quarter was down slightly from a 3.2% annual rate in the third quarter, the Commerce Department said Thursday. Consumer spending helped drive the fourth-quarter gain, while the housing market weakened and businesses cut back their spending on equipment.

The October-to-December period capped a year of economic slowdown with growth of 1% in the fourth quarter of 2022 compared with a year earlier, down sharply from 5.7% growth in 2021. The slowdown in part reflected a return to a more normal pace of growth after output surged amid business reopenings, fiscal stimulus and a waning pandemic in 2021.

Markets were mixed following Thursday’s release. Investors have been closely scrutinizing economic data for signs that U.S. growth is coming under pressure from the Federal Reserve’s campaign of interest-rate increases aimed at cooling the economy and bringing down high inflation.

So far in 2023, many traders and portfolio managers appear satisfied that economic activity remains strong enough that a recession this year is far from certain. That conclusion, together with cooling inflation readings, has helped fuel a modest rebound in U.S. stock indexes following last year’s washout.

The Fed is on track to slow interest-rate increases when it meets next week and debate how much higher to raise them this year as it tracks inflation’s trajectory and other economic developments.

The labor market has cooled some but continues to run strong. Jobless claims—a proxy for layoffs—fell last week and held near historic lows, despite the spread of layoff announcements beyond tech companies.

Workers received large wage gains through the end of last year. That helped consumer spending, the economy’s main engine, grow at a solid annual pace of 2.1% last quarter.

Despite some signs of resilience, recent data suggest consumers and businesses are starting to falter. Retail sales fell last month at the sharpest pace of 2022. Surveys of U.S. purchasing managers found that higher interest rates and persistent inflation weighed on demand in January in the manufacturing and service sectors. Companies cut temporary workers in December for the fifth consecutive month, a sign that broader job losses could be on the horizon.

Many economists are concerned about the possibility of a U.S. recession this year. They worry that the Fed’s efforts to curb inflation could trigger broad spending cutbacks and job losses.

“Headwinds from the big jump in interest rates, consumers cutting back on discretionary spending and weak economies overseas were big problems for the U.S. in late 2022,” said

Bill Adams,

chief economist for Comerica Bank. “I expect real GDP growth will likely turn negative in the first half of this year.”

A buildup in inventories helped drive economic growth at the end of last year. That category is volatile, though.

Final sales to private domestic purchasers, a measure of consumer and business spending that gauges underlying demand in the economy, cooled to a 0.2% annual pace in the fourth quarter from 1.1% in the third, the Commerce Department said, a sign of economic cooling in line with the Fed’s goals.

One of the most interest-rate-sensitive sectors—housing—is stumbling amid high mortgage rates. Residential investment declined throughout last year, while existing-home sales fell almost 18% in 2022 from the previous year.

Some economists say the worst of the housing downturn is over as mortgage rates are down from their peak last fall. But few expect a return to the boom times of 2021 any time soon.

The Fed had initially hoped it could bring down inflation with only a slowing in economic growth rather than an outright contraction, an outcome dubbed a “soft landing.”

“If we continue to get strong job growth and if we continue to get consumer spending on services, and companies don’t cut back on [capital expenditures], I think that adds fuel to the soft-landing story,” said Luke Tilley, chief economist at Wilmington Trust.

Consumer spending rose by 1.9% in the fourth quarter of 2022 compared with a year earlier, a slowdown from 7.2% growth in 2021 but close to 2019’s gain.

StoryBright Films, which provides photography and planning services for elopements in the Blue Ridge Mountains, photographed 16 couples’ elopements last year, down from 20 in 2021, said Mark Collett, the company’s co-owner.

Mr. Collett said his small business received many inquiries and engaged in conversations with a lot of potential clients last year. But more couples expressed concern about their financial situations and ability to pay for a big event than a year earlier.

“We would even get as far as sending them a contract to book, but then they got cold feet,” Mr. Collett said.

For 2022 marriages, clients tended to book at the bottom and top ends of the price range, rather than the middle, he added.

Purchasing power from paychecks fell for middle-income households last year, while it rose for lower-income and higher-income households. Many lower-income households benefited from wage increases and pandemic savings, while higher-income households had a large-enough savings buffer to spend aggressively.


Spending

on services

remained a

contributor.

Goods spending

(pct. pts.)

A shrinking trade

deficit continued

to drive growth,

but less so than in

the third quarter.

Residential

investment

was a drag

on growth.

Spending

on services

remained a

contributor.

Goods spending

(pct. pts.)

A shrinking trade

deficit continued

to drive growth,

but less so than in

the third quarter.

Residential

investment

was a drag

on growth.

Spending

on services

remained a

contributor.

Goods spending

(pct. pts.)

The trade deficit

continued to

drive growth, but

less so than in

the third quarter.

Residential

investment

was a drag

on growth.

Goods

spending

(pct. pts.)

Goods

spending

(pct. pts.)

Write to Sarah Chaney Cambon at sarah.chaney@wsj.com

Write to Sarah Chaney Cambon at sarah.chaney@wsj.com

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Strong U.S. economic growth expected in fourth quarter, outlook darkening

  • Fourth-quarter GDP forecast to increase at a 2.6% rate
  • Strong consumer spending seen; other sectors to contribute
  • Weekly jobless claims expected to rise moderately

WASHINGTON, Jan 26 (Reuters) – The U.S. economy likely maintained a strong pace of growth in the fourth quarter as consumers boosted spending on goods, but momentum appears to have slowed considerably towards the end of the year, with higher interest rates eroding demand.

The Commerce Department’s advance fourth-quarter gross domestic product report on Thursday could mark the last quarter of solid growth before the lagged effects of the Federal Reserve’s fastest monetary policy tightening cycle since the 1980s kick in. Most economists expect a recession by the second half of the year, though mild compared to previous downturns.

Retail sales have weakened sharply over the last two months and manufacturing looks to have joined the housing market in recession. While the labor market remains strong, business sentiment continues to sour, which could eventually hurt hiring.

“This looks like it could be the last really positive, strong quarterly print we’ll see for a while,” said Sam Bullard, a senior economist at Wells Fargo Securities in Charlotte, North Carolina. “Markets and most people will look through this number. More recent data are suggesting that economic momentum is continuing to slow.”

According to a Reuters survey of economists, GDP growth likely increased at a 2.6% annualized rate last quarter after accelerating at a 3.2% pace in the third quarter. Estimates ranged from a 1.1% rate to a 3.7% pace.

Robust second-half growth would erase the 1.1% contraction in the first six months of the year.

Growth for the full year is expected to come in at around 2.1%, down from the 5.9% logged in 2021. The Fed last year raised its policy rate by 425 basis points from near zero to a 4.25%-4.50% range, the highest since late 2007.

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, is expected to have grown at a pace faster than the 2.3% rate notched in the third quarter. That would mostly reflect a surge in goods spending at the start of the quarter.

Spending has been underpinned by labor market resilience as well as excess savings accumulated during the COVID-19 pandemic. But demand for long-lasting manufactured goods, which are mostly bought on credit, has fizzled and some households, especially lower income, have depleted their savings.

Economic growth also likely received a lift from business spending on equipment, intellectual property and nonresidential structures. But with demand for goods tanking, business spending also lost some luster as the fourth quarter ended.

Despite the clear signs of a weak handover to 2023, some economists are cautiously optimistic that the economy will skirt an outright recession, but rather suffer a rolling downturn, where sectors decline in turn rather than all at once.

ROLLING RECESSION

They argue that monetary policy now acts with a shorter lag than was previously the case because of advances in technology and the U.S. central bank’s transparency, which they said resulted in financial markets and the real economy acting in anticipation of rate hikes.

“We will continue to have positive GDP numbers,” said Sung Won Sohn, a finance and economics professor at Loyola Marymount University in Los Angeles. “The reason is sectors are taking turns going down, and not simultaneous declining. The rolling recession began with housing and now we are seeing the next phase which is consumption related.”

Indeed, with demand for goods slumping, factory production has declined sharply for two straight months. Job cuts in the technology industry were also seen as flagging cutbacks in capital spending by businesses.

While residential investment likely suffered its seventh straight quarterly decline, which would be the longest such streak since the collapse of the housing bubble triggered the Great Recession, there are signs the housing market could be stabilizing. Mortgage rates have been trending lower as the Fed slows the pace of its rate hikes.

Inventory accumulation was seen adding to GDP last quarter, but with demand slowing, businesses are likely to focus on reducing stock in their warehouse rather than placing new orders, which would undercut growth in the quarters ahead.

Trade, which accounted for the bulk of GDP growth in the third quarter, was seen either making a small contribution or subtracting from GDP growth. Strong growth is expected from government spending.

While the labor market thus far has shown remarkable resilience, economists argue that deteriorating business conditions will force companies to slow hiring and lay off workers.

Companies outside the technology industry as well as interest-rate sensitive sectors like housing and finance are hoarding workers after struggling to find labor during the pandemic.

A separate report from the Labor Department on Thursday is likely to show initial claims for state unemployment benefits rose to a seasonally adjusted 205,000 for the week ended Jan. 21, from 190,000 in the prior week, according to a Reuters survey of economists.

“We expect initial jobless claims will eventually start to turn back up after their recent drop, consistent with an eventual downturn in payrolls and a rise in the unemployment rate,” said Kevin Cummins, chief economist at NatWest Markets in Stamford, Connecticut. “In turn, we expect spending to slow as consumers will be less willing to run down savings in the face of a deteriorating labor market.”

Reporting by Lucia Mutikani; Editing by Andrea Ricci

Our Standards: The Thomson Reuters Trust Principles.

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House speaker vote: Right-wing GOP-ers spurn talk of deal as McCarthy humiliation set for fourth day – live news

Kevin McCarthy loses sixth vote in House speaker bid, as chamber adjourns

The chaos on Capitol Hill is set to continue for a fourth day as the Republican party remains at war over who to elect as the next speaker of the House of Representatives.

Kevin McCarthy failed to secure enough votes during multiple roll call votes this week, prompting Congress to adjourn multiple times for negotiations.

As of late Thursday, the California Republican had lost 11 successive ballot counts. The House has adjourned for the night, so a potential 12th vote is on the horizon tomorrow.

Mr McCarthy told Punchbowl Newshe wasn’t going to put a “timeline” on his candidacy, but that he was confident he would be successful.

“We’ve got some progress going on,” he said. “Members are talking.”

The GOP House leader reportedly offered to make key concessions on Wednesday night including agreeing to a proposed rule change on how to oust a sitting speaker in the hope he could secure 218 votes to get him over the line.

However, a group of far-right Republicans are refusing to back him. Dubbed the “Never Kevins”, the group includes the likes of Lauren Boebert and Matt Gaetz who told reporters that the stalemate will not end with Mr McCarthy as speaker.

Despite rumouers of a backroom deal that would appease the Never Kevins, Ms Boebert told Politico on Thursday she hadn’t been involved in any negotiations.

Watch the proceedings live here.

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Congresswoman evokes ‘day 3 vibes’ and carries her dog to House floor as Speaker crisis drags on

Representative Nancy Mace from South Carolina was photographed carrying her dog Libby to the House of Representatives chamber as the vote to choose a new speaker dragged on for the third day.

When asked by a reporter whether “pups are allowed on the House floor”, she responded by saying that “there are no rules right now”.

Sravasti Dasgupta6 January 2023 09:15

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From laughing to cringing: The most memorable images of three days of House speaker votes

With C-SPAN providing an unfiltered live feed of all the action on the floor of the House of Representatives as the votes continue to name a speaker, audiences have been treated to an interesting insight into how Congress functions – or dysfunctions, as the case may be.

Usually, congressional rules dictate what cameras can and cannot show, but with no representatives sworn in there are no such rules.

There have been some memorable still images captured by photographers present in the chamber as lawmakers have laughed, cringed, appeared frustrated and huddled in tense negotiation between ballots as Kevin McCarthy suffered defeat after defeat.

Here are some of the best images to emerge so far:

Oliver O’Connell6 January 2023 08:45

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McCarthy defiant despite 11th humiliating defeat: ‘It’s not how you start, it’s how you finish’

Kevin McCarthy rang in a defiant tone after a seventh consecutive defeat in his bid to become House speaker as he said it was fine if some processes “take a little longer” and don’t “meet your deadline”.

The House on Thursday adjourned for the third time in as many days with a stalemate.

Despite this, Mr McCarthy told reporters after the adjournment that “if this takes a little longer and it doesn’t meet your deadline that’s okay. Because it’s not how you start, it’s how you finish.” He added: “If we finish well, we’ll be very successful.”

Maroosha Muzaffar reports:

Sravasti Dasgupta6 January 2023 08:15

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Watch: Jeanine Pirro says GOP holdouts making party look ridiculous

Oliver O’Connell6 January 2023 07:45

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ICYMI: Viral clip showing George Santos all alone in House chamber

George Santos was isolated by an obvious cloud of political toxicity on Tuesday as the embattled congressman-elect appeared on the House floor to vote in the election for speaker of the House.

Videos and photos showed the New York Republican sitting alone, in sharp contrast to his fellow lawmakers who were conversing with other members as well as some who even brought their children to the House floor to witness the spectacle of the speaker’s election.

He’s been much more social since then.

Oliver O’Connell6 January 2023 06:45

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Photo of AOC laughing as Matt Gaetz makes impassioned speech goes viral

The photo was taken during the chaotic vote on Wednesday, when the House of Representatives adjourned without having decided on a new speaker. Legislators had appeared temporarily to not know what the final vote count was on the resolution.

Oliver O’Connell6 January 2023 05:45

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Speaker fight exposes post-Trump GOP leadership vacuum

The episode also poses more profound questions about the party’s identity and future. It’s a fresh reminder of Trump’s waning influence inside the GOP — even among the most vocal supporters of his Make America Great Again political movement — as he again seeks the party’s presidential nomination, exposing a leadership vacuum with no obvious alternative to unite the party and guide it through practical governing responsibilities and political challenges.

Oliver O’Connell6 January 2023 04:45

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No members, no rules…

As Republicans continue to squabble over who will be the next speaker, there are essentially no members in the U.S. House of Representatives — only members-elect.

Without a speaker, none of the them can be sworn in, and the 118th Congress can’t convene or vote on any rules. Parliamentary procedure has been jettisoned in favor of controlled chaos. Members of both parties are unsure whether they can call votes or make motions on the floor because there is no speaker to rule on their requests. Committees can’t be formed and legislation can’t be passed.

Oliver O’Connell6 January 2023 03:45

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AOC fires back after Cammack accuses Democrats of getting drunk in House chamber

Representative Alexandria Ocasio-Cortez knocked down accusations from Republican Representative Kat Cammack of Florida after she claimed Democrats were drinking during their vote to nominate a speaker of the House of Representatives.

Oliver O’Connell6 January 2023 02:45

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From funny to dangerous: Democrats despair at GOP speaker debacle

The Independent’s Eric Garcia spoke with key Democrats about the unfolding speaker debacle.

Oliver O’Connell6 January 2023 01:45



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