Wall St gets respite from positive data, dollar pullback
Stocks edge up, bond yields retreatDollar pulls back after biggest weekly rally since SeptemberHigher peak seen for Fed ratesPositive U.S. manufacturing, home sales dataFeb 27 (Reuters) – Wall Street and global shares rebounded modestly on Monday on favorable economic data and bargain hunting, but remained within sight of recent six-week lows, as investors prepared for […]
Wall St ends sharply down, posts biggest weekly drop of 2023
Dow’s worst weekly performance in 5 monthsPCE data comes in strong, showing resilient consumerFor the week, all down: Dow 2.99%, S&P 2.66%, Nasdaq 3.33%Indexes down: Dow 1.02%, S&P 1.05%, Nasdaq 1.69%Feb 24 (Reuters) – Wall Street’s main indexes posted their biggest weekly drop of 2023 after sharp losses on Friday, as investors braced for the […]
Dollar index hits seven-week high on higher-for-longer U.S. rates
LONDON, Feb 23 (Reuters) – The dollar index rose to its highest in nearly seven weeks on Thursday, a day after minutes from the Federal Reserve’s last policy meeting that supported, but did not add to markets’ view the central bank will raise rates further.The index , which tracks the greenback against six major peers […]
Analysis: Fed’s quandary: Can the economy keep motoring and inflation fall?
WASHINGTON, Feb 21 (Reuters) – A year into the U.S. Federal Reserve’s most aggressive monetary crackdown since the 1980s the strength of the U.S. economy has befuddled policymakers now faced with an unexpected dilemma: Are things too good?There’s little sign the U.S. job market, currently sporting a more-than-half-century low 3.4% unemployment rate, is weakening. Consumers […]
Global shares sink, dollar soars on rate-hike outlook
LONDON, Feb 17 (Reuters) – Stock markets dropped across the globe on Friday and the dollar leapt to six-week highs as jobs data revived expectations the U.S. central bank would stick to its monetary tightening path.Data from the U.S. Labor Department overnight showed monthly producer prices had accelerated in January and the number of Americans […]
Argentine savers ‘drown’ under spiraling prices as inflation hits 99%
BUENOS AIRES, Feb 14 (Reuters) – Argentina’s inflation rate has hit just shy of 100%, the government said on Tuesday, with savers feeling more pain from some of the world’s fastest rising prices and workers’ budgets straining as costs outstrip salaries.The South American country, which has battled spiraling prices for years, saw monthly inflation speed […]
At least two more Fed rate hikes and no cut this year, say economists: Reuters poll
BENGALURU, Feb 14 (Reuters) – The U.S. Federal Reserve will raise interest rates at least twice more in coming months, with the risk they go higher still, according to a majority of economists in a Reuters poll who see no cut by year-end.This brings the majority of private-sector forecasters in line with the central bank’s […]
In State of the Union speech, Biden challenges Republicans on debt and economy
WASHINGTON, Feb 7 (Reuters) – President Joe Biden challenged Republicans to lift the U.S. debt ceiling and support tax policies that were friendlier to middle class Americans on Tuesday in a State of the Union speech that served as a blueprint for his 2024 re-election campaign.Assailing oil companies for making high profits and corporate America […]
Morning Bid: Powell confesses ‘This time it’s different’
A look at the day ahead in U.S. and global markets from Mike Dolan.Jerome Powell calmed the horses, a bit.In attempting to parse last week’s blockbuster January jobs report, the Federal Reserve Chair on Tuesday reprised his take from last Wednesday’s policy meeting – essentially that another couple of Fed rate hikes were probably needed […]
Global shares slide as interest-rate risk rises and geopolitics heat up
U.S. stock futures slip, European shares dropYen skids as market eyes possible BOJ governorInvestors ponder U.S. rates with host of Fed speakers dueLONDON, Feb 6 (Reuters) – Global shares slipped on Monday, after a run of upbeat economic data suggested interest rates will have to rise further and stay higher for longer, while a stronger […]