French nationwide strike to extend as pension reform fight intensifies
Protests against plans to raise pension age to 64Majority of voters reject reformGovernment, unions determined to stand their groundPARIS, March 7 (Reuters) – France’s nationwide strike against a planned pension reform, which disrupted train services, shut schools and halted fuel deliveries, will spill into Wednesday as unions seek to force a government retreat on the […]
U.S. companies and their backers seize on window to sell stock
NEW YORK, March 7 (Reuters) – Sales of shares in publicly listed U.S. companies had their strongest showing last week in more than a year, as companies and some of their shareholders, such as private equity firms, capitalized on the risk appetite of stock market investors.Stock sales reached $4.97 billion in the United States last […]
US companies rush to issue corporate debt, busiest February ever
WASHINGTON, Feb 28 (Reuters) – U.S. companies with the highest credit ratings sold a record $144 billion of debt securities so far in February to get ahead of further potential interest rate hikes, meeting strong demand from investors looking to capitalize on a spike in yields.Investment-grade rated corporate bond issuance in February has been the […]
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 […]
‘Stubborn’ food inflation leaves U.S. shoppers with slim appetite for other goods
Food retailers benefit from rocketing pricesChoosy shoppers seek discounts on clothing, housewaresHome improvement sales head downFeb 23 (Reuters) – As American shoppers stomach soaring food prices, they are cutting back on purchases of other goods, such as toys, clothing and housewares, in a challenging trend for retailers.Commentary this week from executives at Walmart (WMT.N) and […]
Wells Fargo lays off mortgage bankers – CNBC
Feb 22 (Reuters) – Wells Fargo & Co (WFC.N) laid off hundreds of mortgage bankers this week as part of its recent strategic shift, CNBC reported on Wednesday, citing people with knowledge of the matter.The layoffs affected top producers, including bankers who exceeded $100 million in loan volumes last year and some who attended an […]
Analysis: Looming U.S. default risk prompts investors to cut some debt exposure
NEW YORK, Feb 21 (Reuters) – Bond investors are starting to trim holdings of U.S. debt to brace for a possible government default that they see as highly unlikely but potentially seismic for financial markets around the world.The U.S. Treasury hit its $31.4 trillion borrowing limit last month. Unless congress raises or suspends that cap, […]
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 […]
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 […]
Hong Kong home prices drop 15.6% in 2022, snap 13 years of gain
Jan 27 (Reuters) – Private home prices in Hong Kong, one of the most unaffordable territories in the world, fell 15.6% in 2022 in the first annual drop since 2008, official data showed on Friday.Prices in the Asian financial hub were weighed down by a weak economic outlook and rising mortgage costs, following a COVID-19 […]