The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to reduce risk in large cap stocks. Among the index's contributors, Tencent was a major drag, with its shares falling by around 2.3%, putting pressure on the technology sector, which has recently been a driving force behind market gains. Weakness in large cap companies like this typically quickly impacts sentiment due to their significant weighting in...
US retail sales advanced in October, boosted by autos that masked more mixed performance elsewhere heading into the holiday season. The value of retail purchases, unadjusted for inflation, increased 0.4% after an upwardly revised 0.8% gain in September, Commerce Department data showed Friday. Excluding autos, sales edged up 0.1%. Source : Bloomberg
US producer prices picked up in October, fueled in part by gains in portfolio management and other categories that feed into the Federal Reserve's preferred inflation gauge. The producer price index for final demand increased 0.2% from a month earlier after rising a revised 0.1% in September, Bureau of Labor Statistics data showed Thursday. Compared with a year ago, the PPI rose 2.4%. The wholesale inflation data follow the more closely watched consumer price index, which showed on Wednesday that underlying inflation remained stubborn for a third month. While...
The number of Americans filing claims for unemployment benefits fell to 217K in the week ended Nov. 10, 2024. That was below the 224,000 estimate and below the previous weekly estimate of 221K the Labor Department said Thursday. Source: @Newsmaker23
The Australian Bureau of Statistics (ABS) will release its October monthly employment report at 00:30 GMT on Thursday (11/14). The country is expected to have added 25,000 new jobs, while the Unemployment Rate is expected to remain steady at 4.1%. The Australian Dollar (AUD) is trading near a multi-week low against the US Dollar (USD) ahead of the event amid continued USD demand, with the AUD/USD pair trading just above the 0.6500 mark. The ABSEmployment Change report separates full-time jobs from part-time jobs. By definition, full-time jobs mean working 38 hours or more per week and...
A measure of underlying US inflation remained firm in October, underscoring the ongoing risks Federal Reserve officials face in trying to achieve their target. The so-called core consumer price index — which excludes food and energy costs — increased 0.3% for a third month and 3.3% from a year ago, Bureau of Labor Statistics figures showed Wednesday. Economists see the core gauge as a better indicator of the inflation trend than the overall CPI. That measure, which includes food and energy, rose 0.2% for a fourth month and 2.6% from a year before, marking...