(Bloomberg) — The latest reading of the US labor market on Friday is expected to show job growth on more of the downward glide path sought by Federal Reserve policy makers in their fight to beat back inflation. Payrolls are projected to have risen about 200,000 in November, a second month of decelerating gains. Such […]
Read More(Bloomberg) — On the most optimistic corners of Wall Street, promising inflation data over the past week or so suggest the Federal Reserve may accomplish a soft landing after all. Yet no such belief prevails among the big money managers, who are betting that an economic downturn riddled with still-hot price pressures will define trading […]
Read More(Bloomberg) — The dollar has notched up its worst week since the early days of the Covid pandemic, but analysts think a long-running stampede for the greenback might not be over just yet. The Bloomberg Dollar Spot Index slumped around 3.5% this week, its biggest loss since March 2020. Investors had been trimming bets on […]
Read More(Bloomberg) — The Federal Reserve “hasn’t accomplished anything” in loosening the US labor market even after four consecutive 75-basis-point hikes, former New York Fed President Bill Dudley said. Friday’s jobs report showing a 261,000 gain in payrolls and a slight uptick in unemployment in October is “not consistent with a loosening labor market,” Dudley, chair […]
Read More(Bloomberg) — A strong dollar is likely to weigh negatively on the US economic outlook and could alter how high the Federal Reserve ultimately raises interest rates, economists surveyed by Bloomberg said. Nearly half of the economists said that international fallout from a strong dollar was either somewhat likely or very likely to spill back […]
Read More(Bloomberg) — Profits and losses aren’t usually thought of as a consideration for central banks, but rapidly mounting red ink at the Federal Reserve and many peers risks becoming more than just an accounting oddity. The bond market is enduring its worst selloff in a generation, triggered by high inflation and the aggressive interest-rate hikes […]
Read More(Bloomberg) — The price of copper — used in everything from computer chips and toasters to power systems and air conditioners — has fallen by nearly a third since March. Investors are selling on fears that a global recession will stunt demand for a metal that’s synonymous with growth and expansion. You wouldn’t know it […]
Read More(Bloomberg) — One of Wall Street’s biggest bears is turning even more pessimistic on the outlook for US earnings against the backdrop of a slowdown in economic growth. Morgan Stanley strategist Michael J. Wilson cut his expectations for earnings-per-share growth for the year, saying that a slowing economy is now likely to be a bigger […]
Read More(Bloomberg) — Mounting concern over semiconductor demand is sending shudders through North Asia’s high-tech exporters, which historically serve as a bellwether for the international economy. South Korean behemoths Samsung Electronics Co. and SK Hynix Inc. have signaled plans to dial back investment outlays, while across the East China Sea, the world’s biggest contract chipmaker Taiwan […]
Read More(Bloomberg) — The ugliest year ever for US corporate-bond investors is expected to get uglier — and they only have the Federal Reserve to blame. With the central bank raising interest rates at the fastest pace in decades, nearly three quarters of those who responded to the MLIV Pulse survey said that tighter monetary policy […]
Read More(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. The world’s largest economy remained in a precarious position in the second quarter, a government report is projected to show, adding to mounting recessionary angst just as the Federal Reserve leans in harder against inflation. US gross […]
Read More(Bloomberg) — Cathie Wood says the massive inventories now held by US companies suggest that inflation will die down. “I’ve never seen inventory surges like this in my career and I’ve been around for a long time,” the head of Ark Investment Management said in an interview with Bloomberg Television Wednesday. “This inventory issue highlights […]
Read More(Bloomberg) — Oil prices are likely to extend gains as global crude stockpiles need to be rebuilt in the face of rebounding Chinese demand and reduced production from Russia, according to Goldman Sachs Group Inc. Brent crude will need to average $135 a barrel in the 12 months from July, up $10 from the bank’s […]
Read More(Bloomberg) — Social media stocks are on course to shed more than $100 billion in market value after Snap Inc.’s profit warning, adding to woes for the sector which is already reeling amid stalling user growth and rate-hike fears. Shares in digital ad-dependent Snap are set for a record one-day drop, down 32% in premarket […]
Read More(Bloomberg) — The U.S. economy unexpectedly shrank last quarter for the first time since 2020 as the trade deficit ballooned, adding to political headaches for President Joe Biden but unlikely to sway the Federal Reserve from hiking interest rates aggressively to combat inflation. Gross domestic product fell at a 1.4% annualized rate as surging imports […]
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