Dollar jumps after “monster” job report By Reuters
© Reuters. FILE PHOTO: U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo By Karen Brettell NEW YORK (Reuters) – The dollar jumped on Friday after data showed that U.S. employers added significantly more jobs in January than economists expected, potentially giving the Federal Reserve more leeway to keep […]
Fed’s Powell says no rate cuts this year, and markets hear it differently
Feb 2 (Reuters) – Federal Reserve Chair Jerome Powell had a clear message on Wednesday: as “gratifying” as it is that inflation has begun to slow, the central bank is nowhere near to reversing course or declaring victory.”It’s going to take some time” for disinflation to spread through the economy, Powell said in a news […]
Global factory activity contracted again in January, highlighting fragile recovery
U.S. manufacturing sinks further in Jan, but few layoffs – ISMEuro zone factories have passed their trough in activity – PMIChina’s Jan factory activity shrinks – Caixin PMI surveyWASHINGTON/LONDON, Feb 1 (Reuters) – Manufacturing activity across the United States, Europe and Asia contracted again last month, underscoring the fragility of the global economic recovery, although […]
Wall St gains over 1% after encouraging inflation data with Fed next
Nasdaq posts biggest January gain since 2001U.S. labor cost growth slows in fourth quarterExxon, UPS rise after results, Caterpillar slumpsFed decision on interest rates on WednesdayIndexes up: Dow 1.09%, S&P 500 1.46%, Nasdaq 1.67%NEW YORK, Jan 31 (Reuters) – Major U.S. stock indexes closed over 1% higher on Tuesday as labor cost data encouraged investors […]
Fed’s words in focus as markets bet rate hikes will soon end
Jan 30 (Reuters) – U.S. central bankers have unambiguously telegraphed this week’s policy decision: a quarter-of-a-percentage-point increase in their benchmark interest rate, the smallest since they kicked off their tightening cycle 10 months ago with one the same size.Less clear is whether they will continue to signal “ongoing increases” ahead for the policy rate as […]
Strong U.S. economic growth expected in fourth quarter, outlook darkening
Fourth-quarter GDP forecast to increase at a 2.6% rateStrong consumer spending seen; other sectors to contributeWeekly jobless claims expected to rise moderatelyWASHINGTON, 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 […]
Analysis: Wall Street heavyweights warn of pain ahead despite market’s recent reprieve
NEW YORK, Jan 25 (Reuters) – Some of Wall Street’s biggest names are throwing cold water on expectations that the U.S. economy will scrape through 2023 without a recession, even as hopes of easing inflation and resilient growth propel stocks higher.Banks and asset managers that have reiterated recession calls include BlackRock, Wells Fargo and Neuberger […]
Explainer: Shutdown? Default? Washington’s risky new debt ceiling standoff
WASHINGTON, Jan 24 (Reuters) – Partisan brinksmanship in the U.S. Congress has made government shutdowns seem a routine part of governing in the past decade, but the current standoff in Washington over raising the $31.4 trillion federal debt ceiling is significantly riskier.WHAT IS A GOVERNMENT SHUTDOWN?Congress is supposed to pass detailed spending legislation for each […]
Japan warns of dire finances as BOJ struggles to contain yields
Japan’s finances intensified severity to unprecedented pointRounds of extra budget, stimulus measures aggravate financesPublic finance is the cornerstone of a country’s trust – finminEconomic revival comes first before fiscal reform in long runParliament debate begins, all eyes on new BOJ governor nomineeTOKYO, Jan 23 (Reuters) – Japan’s finances are becoming increasingly precarious, Finance Minister Shunichi […]
Gold gains on softer dollar, slower Fed rate-hike bets
U.S. weekly jobless claims data due at 1330 GMTGold benefiting from flight to safety after U.S. data – analystU.S. producer prices fall more than expected in DecemberJan 19 (Reuters) – Gold prices rose on Thursday and are set to snap a three-day losing streak, helped by a weaker dollar and as signs of cooling U.S. […]