Morning bid: Markets go all in for disinflation
SYDNEY, Feb 2 (Reuters) – A look at the day ahead in European and global markets from Wayne Cole.Push back? What push back? The main theme ahead of the Fed announcement was that Chair Jerome Powell would definitely, totally, absolutely push back against the recent rapid easing in market conditions given inflation was still sky […]
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 […]
Veterans of 2011 U.S. debt-ceiling fight see tougher battle ahead
WASHINGTON, Jan 31 (Reuters) – A Democratic president. A new Republican majority in the U.S. House of Representatives pushing for sharp spending cuts. A rapidly growing pile of debt – and a showdown that threatens to throw the global economy into turmoil.Sound familiar?Those elements driving the debate over raising the federal government’s $31.4 trillion debt […]
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 […]
Biden says no F-16s for Ukraine as Russia claims gains
Russian administrator claims foothold in VuhledarKyiv says Russian gains come at huge costThink-tank says delay in Western arms halted Ukraine’s advanceKYIV, Ukraine/WASHINGTON Jan 30 (Reuters) – The United States will not provide the F-16 fighter jets that Ukraine has sought in its fight against Russia, President Joe Biden said on Monday, as Russian forces claimed […]
McCarthy to discuss debt limit, spending with Biden
Biden, McCarthy set for high-stakes debt talks on WednesdayRepublican leader says U.S. default will not happenWhite House dubious on Republican plan for MedicareWASHINGTON/WILMINGTON, Del., Jan 29 (Reuters) – President Joe Biden and House of Representatives Speaker Kevin McCarthy will meet at the White House on Wednesday for talks in the standoff over the federal debt […]
Odds ‘very high’ of U.S. military conflict with China, top Republican says
WASHINGTON, Jan 30 (Reuters) – A top Republican in the U.S. Congress said on Sunday the odds of conflict with China over Taiwan “are very high” after a U.S. general caused consternation with a memo that warned that the United States would fight China in the next two years.In a memo dated Feb. 1 but […]
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 […]
U.S. inflation roller coaster prompts fresh look at long-ignored money supply
NEW YORK, Jan 26 (Reuters) – The amount of money sloshing around the U.S. economy shrank last year for the first time on record, a development that some economists believe bolsters the case for U.S. inflation pressures continuing to abate.The Federal Reserve’s main measure of the nation’s money stock – known as M2 money supply […]
Splits emerge as U.S. House Republicans demand Biden negotiate on debt limit
WASHINGTON, Jan 25 (Reuters) – Republicans who control the U.S. House of Representatives are divided over how hard a line to take on the debt ceiling, but were united on Wednesday in demanding that Democratic President Joe Biden agree to negotiate on spending as part of any deal.Hard-line Republican conservatives, who have the power to […]