Wall Street rally lifts tech stocks in latest signal US inflation is cooling, now eyes turn to Fed rate decision April 14, 2023 A rally on Wall Street on Thursday lifted stocks to their highest level in almost two months following the latest sign that inflation continues to cool. The S&P 500 rose 1.3 per cent after a report showed inflation at the wholesale level slowed last month by more than expected. The Dow Jones Industrial Average gained [...]
FTSE 100 close: US inflation boost runs out of steam as De La Rue tumbles a third April 12, 2023 A sudden boost to London’s FTSE 100 from better than expected US inflation numbers ran out of steam toward the end of today’s trading session, although the premier index still notched gains. The FTSE 100 jumped 0.5 per cent to close at 7,824.83 points, while its mid-cap counterpart, the FTSE 250, which is more responsive [...]
US core inflation jumps to 5.6 per cent while CPI falls rapidly in mixed signal for Fed April 12, 2023 Underlying US inflation is putting up a strong fight against the Federal Reserve’s aggressive interest rate hike assault, while general price rises are falling quickly, sending mixed signals to chair Jerome Powell and co ahead of their interest rate decision next month. Official figures out from the US Bureau of Labor Statistics today showed the [...]
Soft landing? Why the latest jobs data could leave the Fed with a tricky call April 10, 2023 Analysts are divided about whether the US Federal Reserve should hike rates again as they digest last week’s figures on the labour market. On Friday last week, a closely watched survey of the US labour market showed the economy added 236,000 new jobs in March. While more jobs are still being added, the report suggests [...]
US economy adds 236,000 jobs in March as Fed rate hikes help cool labour market April 7, 2023 The US added 236,000 new jobs in March, the latest sign that the labour market is beginning to cool as the US Federal Reserve (Fed) continues to hike interest rates. The number of new jobs fell below the number added in February and the average monthly gain of 334,000 recorded in the last six months, [...]
When is the Bank of England interest rate decision and what is going to happen? March 23, 2023 The Bank of England is going to deliver its interest rate decision today against the backdrop of a shock rise in inflation and a now becalmed banking mini-crisis. Before Wednesday’s surprise increase in inflation to 10.4 per cent, there was speculation about whether the Bank’s decision making body, the Monetary Policy Committee (MPC) would raise [...]
European markets to open higher after Credit Suisse drama as investors split on central bank rate hikes March 21, 2023 European markets are set to open higher on Tuesday as investors bet that banking turmoil will put a halt to central banks’ battle to contain inflation The FTSE and Frankfurt’s DAX were called up 0.59 per cent while the CAC in Paris was called up 0.47 per cent. After the drama of the past few [...]
Fed set to hike rates by 25 basis points despite turmoil in US banking sector March 20, 2023 The Federal Reserve is expected to raise interest rates for the ninth time in a row later this week despite widespread instability in the US banking sector. According to Fedwatch there is a 62 per cent chance that the Fed will opt for a 25 basis point hike and 38 per cent chance that it [...]
Wall Street stocks tumble: Why Bank of America and Citigroup have been hardest hit after Fed chair Powell’s testimony March 10, 2023 Stocks stumbled on Wall Street on Thursday and added to the week’s losses as markets remain anxious about the prospect of more aggressive action by the Federal Reserve to fight inflation. Major indexes started the day higher and gradually lost ground until they fell sharply in late trading. The S&P 500 fell 73.69 points, or [...]
Over 500,000 US jobs created in January but what does ‘awe upside surprise’ mean for Fed’s rate hike cycle? February 3, 2023 More than half-a-million new jobs were created in the US this month, leading to renewed fears the Federal Reserve could hike up interest rates when it meets next month. Statistics from the US Department of Labor howed jobs rose by 517,000 in January, while the unemployment rate changed marginally, at 3.4 percent. This week the [...]