World markets kicked off November in an upbeat mood, riffing off buoyant company earnings and calmer trade relations while batting away OPEC's planned end to output hikes and this week's Supreme Court hearing on President Donald Trump's tariffs. Following last week's meeting between Trump and China's President Xi Jinping in South Korea, the White House announced Saturday that China would lift export controls on rare earths and end probes into U.S. chip firms. But Trump said AI giant Nvidia's most advanced chips would be reserved for U.S. companies and kept out of China and other...
The number of Americans filing for unemployment benefits fell to 220,000 in the week ended Dec. 15, 2024. That was down from the 229,000 estimate and from the previous weekly reading of 242,000, the Labor Department said Thursday (12/19). Source: @Newsmaker23
The Bank of England left the benchmark bank rate steady at 4.75% during its December 2024 meeting, in line with market expectations, as CPI inflation, wage growth and some indicators of inflation expectations had risen, adding to the risk of inflation persistence. However, three policymakers preferred to reduce the bank rate by 25bps to 4.5% on the back of sluggish demand and a weakening labour market. The central bank reinforced that a gradual approach to removing monetary policy restraint remains appropriate and that monetary policy will need to continue to remain restrictive for...
EUR/USD surged closer to 1.0400 during the European session on Thursday as the US Dollar (USD) strength took a breather after Wednesday's sharp rally. The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, held gains near a fresh two-year high above 108.00. The greenback drew significant bids after the Federal Reserve (Fed) cut its key lending rate by 25 basis points (bps) to 4.25%-4.50% on Wednesday, as expected, but signaled fewer rate cuts for next year. In the latest dot chart, the Fed revised its projection for the number of interest rate cuts...
The United Kingdom (UK) Consumer Price Index (CPI) edged higher by 2.6% on a yearly basis in November after recording a 2.3% growth in October, according to the data released by the Office for National Statistics (ONS) on Wednesday. Data aligned with the market forecast of 2.6% and stayed well above the Bank of England's (BoE) 2.0% target. Core CPI (excluding volatile food and energy items) rose by 3.5% YoY in November, compared to a 3.3% increase in October while missing the market consensus of 3.6%. The UK November Services CPI inflation stayed unchanged at 5.0% YoY in November.The UK...
Retail sales rose faster than expected at the start of the holiday shopping season in November, pointing to steady growth in the U.S. economy. Sales at U.S. retailers rose 0.7% last month, the government said Tuesday. Retail sales account for about a third of all consumer spending and provide clues to the strength of the economy. What they do show is that the U.S. is ending 2024 on a strong note. Economists surveyed by the Wall Street Journal had forecast a 0.5% gain last month. Key details: Sales of new cars and trucks jumped 2.6% in November to lead the retail gain. Auto sales account...
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
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...
As the U.S. government shutdown disrupts federal employee paychecks across the country, it also exacerbates the financial hardship of attorneys who represent the poorest members of society when they...