Asia shares turn cagey as rate hikes, earnings loom

https://tmsnrt.rs/2zpUAr4 Fed seen hiking 25bp this week, ECB and BOE by 50bp Tech giants lead host of earnings results China shares up as holiday travel surges SYDNEY, Jan 30 (Reuters) – Asian shares turned cagey on Monday ahead of a week that is certain to see interest rates rise in Europe and the United States, … Read more

Wall Street ends higher, notches weekly gains as Fed meeting looms

PCE: inflation cools along with consumer spending American Express, Visa climb higher on solid demand Chevron falls after missing profit estimates Indexes up: Dow 0.08%, S&P 0.25%, Nasdaq 0.95% NEW YORK, Jan 27 (Reuters) – Wall Street advanced on Friday, marking the end of a rocky week in which economic data and corporate earnings guidance … Read more

US consumer spending ends 2022 on weaker footing; inflation slowing

Consumer spending falls 0.2% in December Personal income increases 0.2%; savings rate rises to 3.4% Core PCE price index gains 0.3%; up 4.4% year-on-year WASHINGTON, Jan 27 (Reuters) – US consumer spending fell for a second straight month in December, putting the economy on a lower growth path heading into 2023, while inflation continued to … Read more

US inflation roller coaster prompts fresh look at long-ignored money supply

NEW YORK, Jan 26 (Reuters) – The amount of money sloshing around the US economy shrank last year for the first time on record, a development that some economists believe bolsters the case for US inflation pressures continuing to abate. The Federal Reserve’s main measure of the nation’s money stock – known as M2 money … Read more

Strong US economic growth expected in fourth quarter, outlook darkening

Fourth-quarter GDP forecast to increase at a 2.6% rate Strong consumer spending seen; other sectors to contribute Weekly jobless claims expected to rise moderately WASHINGTON, Jan 26 (Reuters) – The US economy likely maintained a strong pace of growth in the fourth quarter as consumers boosted spending on goods, but momentum appears to have slowed … Read more

Fed to deliver two 25-basis-point hikes in Q1, followed by long pause

BENGALURU, Jan 20 (Reuters) – The US Federal Reserve will end its tightening cycle after a 25-basis-point hike at each of its next two policy meetings and then likely hold interest rates steady for at least the rest of the year, according to most economists in a Reuters poll. Fed officials broadly agree the US … Read more

Cryptoverse: Bitcoin is back with a bonk

Jan 17 (Reuters) – Bitcoin is on the charge in 2023, dragging the crypto market off the floor and electrifying bonk, a new meme coin. The No.1 cryptocurrency has clocked a 26% gain in January, leaping 22% in the past week alone, breaking back above the $20,000 level and putting it on course for its … Read more

China’s 2022 economic growth one of the worst on record, post-pandemic policy faces test

China Q4 GDP growth slows; 2022 growth one of the worst on record 2022 GDP grows 3.0%, far below official target Dec factory output, retail sales weak but beat expectations Population shrinks for the first time since 1961 Policymakers vow to step up support for the economy in 2023 BEIJING, Jan 17 (Reuters) – China’s … Read more

Shares rise, yen climbs as BOJ battles bond bears

BOJ under intense pressure as it defends yield policy Yen hits 7-month high, yuan climbs as dollar eases More earnings ahead, many central bank speakers Britain’s FTSE flirts with record highs SYDNEY/LONDON, Jan 16 (Reuters) – Shares firmed on Monday as optimism over corporate earnings and China’s reopening offset concerns the Bank of Japan (BOJ) … Read more

US inflation subsidizing as consumer prices fall; labor market still tight

Consumer prices fell 0.1% in December CPI increases 6.5% year-on-year Core CPI rises 0.3%; up 5.7% year-on-year Weekly jobless claims fall 1,000 to 205,000 WASHINGTON, Jan 12 (Reuters) – US consumer prices fell for the first time in more than 2-1/2 years in December amid declining prices for gasoline and motor vehicles, offering hope that … Read more