Swiss National Bank estimates it’ll record $143 billion loss
The Swiss National Bank on Monday estimated it will lose 132 billion francs ($143 billion) for 2022, reportedly the largest in its history. The central bank, which unlike most others is an active investor in stock markets, said it’s estimating a 131 billion franc loss on foreign currency positions, and a 1 billion loss on […]
XPeng stock just misses a record selloff, snaps 5-day win streak
The U.S.-listed shares of XPeng Inc. plunged Friday to snap a five-day win streak, as price cuts by Tesla Inc. in China soured sentiment toward China-based electric vehicle makers. The stock XPEV, -15.04% was down as much as 17.2% at its intraday low of $9.85, before recovering slightly to close down 15.04% at $10.11. It […]
Newsquawk Week Ahead: Highlights include US & China CPI, and US earnings season
Week Ahead January 9-14th: MON: Swiss Unemployment (Dec), German Industrial Output (Nov), EZ Sentix (Jan), Unemployment (Nov), Chinese Exports/Imports (Dec)TUE: EIA STEO; Norwegian CPI (Dec), US NFIB (Dec), Chinese M2 & New Yuan Loans (Dec)WED: Australian CPI (Nov)THU: Australian Trade Balance (Nov), US CPI (Dec), IJC (w/e 2nd Jan)FRI: ECB TLTRO Repayment Amount Publication; UK […]
Macy’s stock slides as holiday lulls weigh on sales forecast and execs predict difficulties into 2023
Shares of Macy’s Inc. slid as much as 8% in after-hours trading on Friday after the department-store chain gave a more downbeat forecast on its fourth-quarter sales, with management citing big “lulls” in the holiday-shopping season and saying customers would likely feel the squeeze from inflation into next year. The chain issued the sales and […]
December’s jobs report fuels optimism that the economy could still pull off a soft landing
A “Now hiring” sign is displayed on the window of an IN-N-OUT fast food restaurant in Encinitas, California, May 9, 2022.Mike Blake | ReutersDecember’s strong job growth combined with slowing wage inflation is fueling optimism that the economy might just see a soft landing.But economists disagree on whether that will be the case, given that […]
Beer Sales Drop as Consumers Balk at Higher Prices
BusinessU.S. demand for beer fell at the end of last year after a strong run of defying inflation Source link
Job growth expected to have cooled in December but not enough to slow Fed rate hikes
The economy is expected to have added 200,000 jobs in December, less than November, but still strong enough to keep the Federal Reserve aggressively tightening policy to fight inflation.Economists surveyed by Dow Jones also expect that the unemployment rate remained at 3.7% in December, while average hourly wage growth slowed to 0.4% from 0.6% in […]
Bed Bath & Beyond warns of potential bankruptcy
Bed Bath & Beyond warned Thursday it’s running out of cash and is considering bankruptcy.The retailer, citing worse-than-expected sales, issued a “going concern” warning that in the upcoming months it likely will not have the cash to cover expenses, such as lease agreements or payments to suppliers. Bed Bath said it is exploring financial options, […]
Why everyone thinks a recession is coming in 2023
People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fort Smith, Arkansas, U.S. April 6, 2020.Nick Oxford | File Photo | REUTERSRecessions often take everyone by surprise. There’s a very good chance the next one will not.Economists have […]
Under Armour, Micron Technology and more
Shoppers pass an Under Armour store in White Plains, New York.Scott Mlyn | CNBCCheck out the companies making headlines after the bell: Micron Technology — The semiconductor stock slumped about 2% in after-hours trading after earnings and revenue for its fiscal first quarter fell short of Wall Street’s expectations. Micron Technology also said it expects a […]