BEIJING—Global stocks gained Tuesday after Wall Street gave back some of last week’s huge gains, the American and Chinese presidents met and China’s consumer spending shrank in a sign its economy is weakening. Frankfurt, Shanghai, Tokyo, and Hong Kong advanced, London was little changed while oil prices declined. Wall Street futures were higher, suggesting the…
Global Stocks Higher After US, Chinese Presidents Meet
November 15, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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Goldman Sachs Sees Significant Decline in US Inflation Next Year
November 15, 2022
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Business & Marketseconomic policieseconomyFederal ReserveGoldman Sachsinflationinterest rate hikeInvestmentMarketsrecessionUS
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Economists at Goldman Sachs Group (GSG) are predicting that the present surge in U.S. inflation will significantly decline in 2023. A team led by Goldman Sachs’ chief economist, Jan Hatzius, said that this would be led by three key factors: an ease in the supply chain crisis, a drop in housing prices, and slower wage…
Bezos Says Recession Either ‘Likely’ or Already Here, Has Advice for Businesses and Consumers
Amazon founder Jeff Bezos told CNN in an interview which aired Sunday that he believes the United States is either already in the grips of a recession or is likely going to be in one “very soon,” advising both consumers and small businesses to de-risk and hold more cash. “The probabilities say if we’re not…
IMF Says Global Economic Outlook Getting ‘Gloomier’, Risks Abound
WASHINGTON—The global economic outlook is even gloomier than projected last month, the International Monetary Fund said on Sunday, citing a steady worsening in purchasing manager surveys in recent months. It blamed the darker outlook on tightening monetary policy triggered by persistently high and broad-based inflation, weak growth momentum in China, and ongoing supply disruptions and…
Wall Street Opens Lower After Hawkish Fed Comments
Wall Street’s main indexes opened lower on Monday after hawkish comments from a U.S. Federal Reserve official tempered hopes of the central bank toning down its aggressive monetary policy approach. The Dow Jones Industrial Average fell 85.8 points, or 0.25 percent, at the open to 33662.05. The S&P 500 fell 15.0 points, or 0.37 percent,…
Dollar Edges Up as Fed’s Waller Cautions on Inflation
SINGAPORE/LONDON—The U.S. dollar steadied on Monday amid fading expectations of a less aggressive Federal Reserve interest rate hike after Governor Christopher Waller said the central bank was not softening its fight against inflation. A modest miss on U.S. inflation on Thursday put pressure on the dollar, which declined almost 4 percent in a week, marking…
Oil Falls $1 on China COVID-19 Surge and Firmer Dollar
November 14, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell on Monday, dragged down by a firmer U.S. dollar while surging coronavirus cases in China dashed hopes of a swift reopening of the economy for the world’s biggest crude importer. Brent crude futures were down $1.01, or 1.1 percent, at $94.98 a barrel by 1030 GMT after gaining 1.1 percent on Friday….
Shares Sobered by Fed Warning, China Acts on Property
November 14, 2022
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Business & Marketscryptocurrencyeconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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SYDNEY/LONDON—Share markets continued last week’s rally in more modest fashion on Monday after a top U.S. central banker warned investors against getting carried away over one inflation number, while Chinese stocks gained on aid for the country’s property sector. A modest miss on U.S. inflation was enough to see two-year Treasury yields dive 33 basis…
Maybe the Fed Too Was Trolled
November 12, 2022
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AnalysisBusiness & MarketsBusinesses in COVID-19excess deathsFederal Reserveinflationjerome powelllockdownsOpinionrecessionstagflationU.S. economy
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Commentary The Federal Reserve—and central banks the world over—played a crucial role in making lockdowns possible and weaponizing the panic of politicians. As the lender of last resort and the provider of liquidity for the entire federal government, it removes normal fiscal restraint. It writes checks that cannot bounce to fuel governments in normal times…
Germany’s Inflation Rate Soars to Highest Level in 70 Years
Germany’s annual inflation rate last month soared to its highest level in more than 70 years due to high energy and food prices. Inflationary readings in October skyrocketed to a level not seen in Germany since December 1951, six years after the end of World War II, according to the latest data from Germany’s Federal…
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