LONDON—Investors ploughed $13.2 billion into equity funds in the week to Wednesday, though fixed income inflows slowed and precious metals funds lost money as markets grappled with the prospect of rising yields and inflation, BofA said on Friday. Flows to stocks funds over the past week had helped lift total inflows into equities to $1.0…
Equity Funds 2021 Inflows Hit $1 Trillion: BofA
Nasdaq Futures at Record High as Economic Concerns Drive Tech Demand
Nasdaq index futures hit a record high on Friday as investors sought economically stable sectors after a small delay in voting on President Joe Biden’s $1.75 trillion spending bill, while rising COVID-19 cases in Europe also dented sentiment. S&P and Dow futures fell tracking losses in banks, airlines, and other economically sensitive sectors. Uncertainty over…
Long-Run Inflation Expectations Rise Among Manufacturers in Sign of More Persistent Price Pressures
A regional Fed report on manufacturing activity paints a picture of more persistent inflation, with prices paid and received indexes near their all-time highs and producer expectations for the long-run inflation rate seeing a relatively sharp uptick. The Philadelphia Federal Reserve Bank’s November 2021 Manufacturing Business Outlook Survey, released Nov. 18, shows that manufacturing activity…
Deutsche Bank and Commerzbank Warn on Inflation; BNP Wants Growth
FRANKFURT—The chief executives of Germany’s two top banks, Deutsche Bank and Commerzbank, warned about inflation on Friday, while the chairman of BNP Paribas said the real issue is growth. The bankers were speaking at a conference in Frankfurt as investors closely watch the European Central Bank for its reaction to accelerating inflation. Deutsche Bank CEO…
ECB Should Not React to Current Inflation Spike: Lagarde
FRANKFURT—European Central Bank President Christine Lagarde said on Friday that inflation in the euro zone will fade so the ECB should not tighten policy as it could choke off the recovery, and hinted at continued bond purchases next year. Inflation in the euro zone hit 4.1 percent in October, pushed up by higher energy costs,…
Euro Slumps as Austria Reimposes Lockdown; Dollar Flying High
LONDON—The euro slumped on Friday to near 16-month lows after Austria became the first country in western Europe to reimpose a full lockdown and Germany did not rule out doing the same. The single currency has been on the back foot all week, pressured by growing expectations that interest rates will be tightened faster elsewhere,…
‘Chronic Underutilization’ of America’s Trucking Capacity Means 40 Pecent Is ‘Left on the Table Every Day’: MIT Expert
An expert from the Massachusetts Institute of Technology (MIT) told lawmakers at a Nov. 17 congressional hearing that holdups at pickup and delivery points are causing a chronic underutilization problem impacting U.S. long-haul truck drivers, leading to 40 percent of America’s trucking capacity being “left on the table every day.” David Correll, a research scientist…
‘Chronic Underutilization’ of America’s Trucking Capacity Means 40 Percent Is ‘Left on the Table Every Day’: MIT Expert
An expert from the Massachusetts Institute of Technology (MIT) told lawmakers at a Nov. 17 congressional hearing that holdups at pickup and delivery points are causing a chronic underutilization problem impacting U.S. long-haul truck drivers, leading to 40 percent of America’s trucking capacity being “left on the table every day.” David Correll, a research scientist…
Oil Drops Below $80 on European COVID-19 Concerns
LONDON—Oil prices dropped below $79 a barrel on Friday as a fresh surge in COVID-19 cases in Europe threatened to slow the economic recovery while investors also weighed a potential release of crude reserves by major economies to cool energy prices. Brent crude was down $2.44, or 3 percent, at $78.80 a barrel by 1110…
World Stocks Struggle Near Record Highs; Europe in Focus
LONDON—Concerns over slowing China growth and a spike in COVID-19 cases in Europe stymied the global equity markets rally on Friday with stocks struggling to cling to recent record highs and the euro looking on track for a second straight week of losses. While U.S. stocks closed at a record high on Thursday, aided by…
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