The likelihood that the United States is already in recession or will fall into one this year has dropped over the past three months to 56 percent from a nearly two-thirds possibility, according to a survey on business conditions released on Monday. Approximately 53 percent of those polled by the National Association of Business Economics…
NFIB Survey Suggests a Recession Is Coming
Commentary The most recent survey from the National Federation of Independent Business (NFIB) is sending a strong signal of an economic recession. In 2019, the NFIB survey, combined with an inverted yield curve, suggested an impending recession. In 2020, those signals became a reality. As in 2019, we see many of the same warning signals…
Wall Street Edges Up Ahead of Busy Earnings Week, Salesforce Rises
U.S. stock indexes opened higher at the start of another big week for corporate earnings, with Salesforce leading gains on Monday following news that Elliott Management had acquired a stake. The Dow Jones Industrial Average rose 64.07 points, or 0.19 percent, at the open to 33,439.56. The S&P 500 opened higher by 5.53 points, or…
Almost 20 Percent of US Firms Plan to Fire Employees: NABE Survey
January 23, 2023
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Business & MarketsCompanieseconomic recessioneconomyemployment trendsfiring employeeslayoff workersrecessionunemploymentUS
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Roughly a fifth of American companies are looking to scale down their workforce in the coming months as businesses come under pressure of low margins, with many foreseeing an economic recession, according a January survey by the National Association for Business Economics (NABE). According to the survey, almost 20 percent of respondents expect employment at…
Japan Warns of Dire Finances as BOJ Struggles to Contain Yields
TOKYO—Japan’s finances are becoming increasingly precarious, Finance Minister Shunichi Suzuki warned on Monday, just as markets test whether the central bank can keep interest rates ultra-low, allowing the government to service its debt. The government has been helped by near-zero bond yields, but bond investors have recently sought to break the Bank of Japan’s (BOJ)…
Euro Scales 9-month Peak as ECB Hawks Let Fly
LONDON—The euro hit a nine-month peak against the dollar on Monday as comments on European interest rates signaling additional jumbo rate rises contrasted with market pricing for a less aggressive Federal Reserve. The euro reached as high as $1.0927, breaking the recent peak of $1.08875, to trade at its highest level since April last year….
World Shares Up, Many Asia Markets Closed for Lunar New Year
January 23, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—Shares were higher Monday in Europe and in Asia, where most markets were closed for the Lunar New Year holiday. Germany’s DAX edged 0.1 percent higher, to 15,058.49 while the CAC 40 in Paris also gained 0.1 percent to 7,002.30. Britain’s FTSE 100 added 0.2 percent to 7,786.30. The future for the S&P 500 lost…
Australian Treasurer Hopes Inflation Situation Will Ease in 2023
Australian Treasurer Jim Chalmers is hoping that inflation will lose steam in 2023 after reaching its peak in the December quarter of 2022. Ahead of the release of the December quarterly inflation figures, the treasurer said he hoped to see a drop in the inflation rate. In the 2022 September quarter, the Australian inflation rate…
Fed’s Williams Says Fed Needs More Rate Rises to Cool Inflation
NEW YORK—Federal Reserve Bank of New York President John Williams said on Thursday the U.S. central bank has more rate hikes ahead and sees signs inflationary pressures might be starting to cool off from torrid levels. “With inflation still high and indications of continued supply-demand imbalances, it is clear that monetary policy still has more…
White House Adviser Says ‘No’ to Spending Cuts, but ‘Yes’ to Tougher IRS Enforcement Discussions
January 20, 2023
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Biden administraitonBusiness & MarketscongressDemocratseconomic policieseconomyExecutive Branchfederal deficitGOPinflationPolicies & ImpactsPoliticsrecessionRepublicansUSWhite House adviser
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A White House adviser said “no” to future spending cuts, but “yes” to tougher Internal Revenue Service enforcement talks. On Jan. 18, Jared Bernstein, a member of the White House Council of Economic Advisers, told MSNBC’s Katy Tur that the Biden administration does not think it is the right time for Congress to discuss government spending…
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