Tag: recession

Global Shares Rise as Sentiments Get Boost From Fed, US Jobs

January 5, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global shares mostly rose Thursday following a rally on Wall Street as investors assessed minutes from the Federal Reserve’s latest meeting of policymakers and welcomed encouraging data on U.S. jobs. France’s CAC 40 lost 0.6 percent to 6,736.01 in early trading, while Germany’s DAX fell 0.4 percent to 14,438.94. Britain’s FTSE 100 edged up 0.1…

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Job Openings Much Higher Than Expected, Sparking Fears of Higher Inflation and a More Aggressive Fed

January 4, 2023
Business & Marketseconomyinflationjob openingsrecessionUSUS News
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The number of job openings in the United States—a measure of labor market tightness—came in far higher than analysts expected, fueling concerns that more inflation is on the way and that the Federal Reserve will have to double down on aggressive rate hikes to quash price pressures. Job openings came in at 10.5 million as…

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Job Openings Much Higher Than Expected, Sparking Fears of Higher Inflation, More Aggressive Fed

January 4, 2023
Business & Marketseconomyinflationjob openingsrecessionUSUS News
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The number of job openings in the United States—a measure of labor market tightness—came in far higher than analysts expected, fueling concerns that more inflation is on the way and that the Federal Reserve will have to double down on aggressive rate hikes to quash price pressures. Job openings came in at 10.5 million as…

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US Auto Sales to Fall in 2022, GM Set to Reclaim Top Spot From Toyota

January 4, 2023
autoBusiness & MarketsCompanieseconomyGMinflationMarketsrecessionsalesUSUS News
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U.S. new vehicle sales are expected to decline for major automakers in 2022 due to inventory shortages, which weighed on Asian brands more than the Detroit giants such as General Motors Co. and Ford Motor Co. Full-year U.S. auto sales are forecast to be about 13.9 million units, down 8 percent from 2021 and 20…

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Salesforce to Cut 10 Percent of Workforce in Latest Tech Layoffs

January 4, 2023
Business & MarketsCompanieseconomic policieseconomyinflationlayoffMarketsrecessionSalesforcestocksTechUSUS News
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Salesforce Inc. plans to cut its workforce by 10 percent and close some offices, saying it needs to cut costs after rapid pandemic hiring left it with “too many people” amid an economic slowdown, sending its shares up 5 percent. The cloud-based software company said on Wednesday it expects between $1.4 billion and $2.1 billion…

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12 Events to Watch for in 2023

January 4, 2023
BrightBusiness & Marketscryptocurrencyeconomyenergyenergy crisisGold and CommoditiesinflationMarketspersonal financerecessionstockstrendsWorld
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The year 2022 was one of surprises: Russia’s invasion of Ukraine, persistent inflation fueled by energy costs, the collapse of FTX and crypto markets, the revelations of the so-called Twitter Files, and one of the worst equity markets in recent history, to name but a few. The year 2023 is poised to present some equally…

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Wall Street Opens Higher With Focus on Fed Minutes

January 4, 2023
Business & Marketseconomic policieseconomyinflationMarketsrecessionstocksUS
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Wall Street’s main indexes opened higher on Wednesday on hopes of an economic recovery in China, while focus was also on minutes from the Federal Reserve’s December policy meeting for clues on the outlook for interest rate hikes. The Dow Jones Industrial Average rose 28.77 points, or 0.09 percent, at the open to 33,165.14. The…

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Dollar Falls as Europe Inflation Cools and China Lifts the Aussie

January 4, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The dollar fell broadly on Wednesday, losing out to commodities currencies like the Australian dollar and against the euro, which got a lift from a raft of data that suggested European inflation may finally have peaked. The dollar was already under pressure from investors who have grown more optimistic over the prospect that China’s relaxation…

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Oil Falls Again as Concerns Grow Over Global Economy, China COVID-19 Cases

January 4, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil fell sharply on Wednesday after slumping in the previous session, weighed down by concerns about weak demand due to the state of the global economy and China’s rising COVID-19 cases. Brent futures fell $1.88 to $80.22 a barrel, a 2.3 percent loss, by 1032 GMT. U.S. crude dropped $1.68, or 2.2 percent, to $75.25…

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Stocks Creep Higher as Inflation Data Offers Hope Ahead of Fed

January 4, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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SINGAPORE/LONDON—European and Asian shares rose on Wednesday thanks to positive news about inflation and China’s strict anti-COVID measures, while the dollar backpedaled as investors await minutes from the Federal Reserve’s most recent meeting. The pan-European STOXX 600 was up 0.9 percent by 0835 GMT as a lower inflation reading from France boosted sentiment, adding to…

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