Federal Reserve Governor Christopher Waller said concerns about private-sector hiring have fueled his call for the central bank to cut interest rates this month. "The private sector is not performing as well as everyone thought," Waller said Friday in an interview on Bloomberg Television. The monthly employment report for June, released on July 3, showed a sharp slowdown in private-sector job growth and a slowdown in wage growth, even as the unemployment rate declined slightly. His comments followed a speech he delivered Thursday in New York in which he argued that with limited inflation...
Global stocks advanced on Thursday after a four-session drop to end 2024, while the dollar strengthened after economic data pointed to a U.S. labor market that remained on solid footing. On Wall Street, U.S. stocks were higher in the early stages of trading, with the S&P 500 on track to snap a four session streak of declines to end 2024. Data from the U.S. Labor Department showed the number of Americans filing new applications for unemployment benefits dropped to an eight-month low of 211,000 last week, below the 222,000 estimate of economists polled by Reuters. Gains were led by the...
The number of Americans filing for unemployment benefits fell to 219K in the week ending Dec. 29, 2024. That was down from the 222K estimate and from the previous weekly reading of 219K, which was revised down to 220K, the Labor Department said Thursday. Source: @Newsmaker23
Investors are expecting more gains for the U.S. stock market in 2025 after two straight standout years, fueled by a solid economy supporting corporate profits, moderating interest rates and pro-growth policies from incoming president Donald Trump. The benchmark S&P 500 is up roughly 24% year-to-date, even with a recent speed bump, and is on pace for its second straight year of gains exceeding 20%, lifted by megacap tech stocks and excitement over the business potential of artificial intelligence. Investors are more confident about the economy than this time a year ago, with consumers...
China's official Manufacturing Purchasing Managers' Index (PMI) eased to 50.1 in December, compared to 50.3 in the previous reading. The reading came in below the market consensus of 50.3 in the reported month. The NBS Non-Manufacturing PMI rose to 52.2 in December versus November's 50.0 figure and the estimates of 50.2. Source: FXstreet
Wall Street's main stock indexes hit their lowest point in over a week on Monday, as thin trading volumes and elevated Treasury yields overshadowed the typically robust year-end period for equities.At 11:45 a.m. ET, the Dow Jones Industrial Average fell 350.71 points, or 0.82%, to 42,641.50, the S&P 500 lost 52.08 points, or 0.87%, to 5,918.76 and the Nasdaq Composite lost 195.71 points, or 0.99%, to 19,526.32.All 11 S&P 500 sectors were in the red, with consumer discretionary leading declines. Growth stocks such as Tesla (NASDAQ:TSLA) and Amazon.com (NASDAQ:AMZN) dropped 2.2% and...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
President Donald Trump said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...