Tag: Economies

Dollar Rises to Strongest Levels in 2021 Despite Growing Concerns Over Government Shutdown

September 29, 2021
Business & EconomyDollarEconomieseconomyFederal ReserveinflationInvestmentMarketsstocksUSUS Newsyen
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The dollar rose to its strongest levels of the year against rival currencies on Wednesday, in spite of growing concerns that the Federal Reserve will start to withdraw policy support and as Republicans continue to block Democratic efforts to raise the debt limit, threatening to plunge the government into shutdown. The dollar index—which measures the U.S. currency…

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Nasdaq Futures up 1 Percent as Tech Stocks Rebound

September 29, 2021
Business & EconomyChinaChina Business & EconomyCompaniesEconomieseconomyInvestmentLocal NewsMarketsMedia & Big TechNASDAQNew YorkNY NewsRegional-Local NewsstocksTechUSUS News
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Nasdaq futures jumped 1 percent on Wednesday as technology stocks led a rebound after concerns about inflation and rising Treasury yields drove one of Wall Street’s worst selloff of this year. Shares of heavyweights Amazon.com Inc., Facebook Inc., Microsoft Corp., Apple, and Google-parent Alphabet Inc. rose between 1 percent and 1.3 percent in premarket trading….

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Home Price Growth Surges to Record High: Reports

September 29, 2021
Business & EconomyEconomieseconomyhome priceshousingInvestmentMarketsUSUS News
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Two new reports show U.S. home prices continued their skyward vault in July, as supply shortages and strong demand combined to keep buying pressure high. Single-family home prices across the United States rose at a record 19.7 percent annual pace in July, according to the S&P CoreLogic Case-Shiller national composite home price index (pdf), released…

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Spain’s Inflation Levels Hit 13-Year High Driven by Increasing Energy Costs

September 29, 2021
Business & Economycarbon emissionconsumer pricesEconomiesEuropeinflationNatural gasSpanish GovernmentWorld
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Inflation levels in Spain surged to a 13-year-high in September driven by increasing energy costs, among other things, data from the National Statistics Institute (INE) showed on Wednesday. The flash indicator prepared by the INE (pdf) showed that national consumer prices rose 4.0 percent year-on-year, the highest reading since September 2008, when the rate was 4.5 percent. The…

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USTR Says Tai, Dombrovskis Discussed Challenges From China, Non-Market Economies

September 29, 2021
Business & EconomyChinaChina Business & EconomyChinese RegimeEconomieseconomyEUEuropeExecutive Branchkatherine tainon-marketPoliticsUSUS NewsUSTRValdis DombrovskisWorld
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WASHINGTON—U.S. Trade Representative Katherine Tai and her European Union counterpart discussed common challenges posed by non-market economies, including China, during a meeting in Washington on Tuesday, Tai’s office said in a statement. Tai thanked European Commission Executive Vice President Valdis Dombrovskis “for helping to build an important bilateral partnership and working constructively to strengthen the…

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US Treasury’s Yellen Seeking October Agreement on Global Minimum Corporate Tax

September 29, 2021
agreementBusiness & EconomyCompaniescorporateEconomieseconomyExecutive BranchJanet YellenMinimumPoliticstaxUSUS News
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WASHINGTON—U.S. Treasury Secretary Janet Yellen said on Tuesday she is looking for G20 countries to reach political agreement on a global minimum corporate tax deal at their summit in October and has not ruled out a rate higher than 15 percent. Yellen, speaking to the National Association for Business Economics, said the Senate Finance Committee…

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Fed’s Bostic: US Job Market in a ‘Jumble,’ but Economy on Firm Footing

September 29, 2021
Business & EconomyCompaniesDistrict of ColumbiaEconomieseconomyFedFirmjobJumbleLocal NewsRaphael BosticRegional-Local NewsUSUS News
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WASHINGTON—The U.S. labor market is in a “jumble” as workers sort out child care and navigate an ongoing pandemic, but the country remains on track for a full recovery, Atlanta Fed president Raphael Bostic said on Tuesday. “There is a lot of shuffle and a lot of jumble and a lot of turbulence” as people…

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World Shares Mixed After Broad Slide on Wall Street

September 29, 2021
Asia & PacificBusiness & EconomyChinaChina Business & EconomyCompaniesDAXEconomieseconomyEuropeevergrandeHK BusinessHong KongInternationalInvestmentLocal NewsMarketsMixedNew YorkNikkeiNY NewsRegional-Local NewsSharesTexasUSUS NewsWall StreetWorld
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Shares rose Wednesday in Europe after sharp declines in Asia that tracked a broad slide on Wall Street on jitters over rising prices and surging U.S. government bond yields. A swift rise in Treasury yields is forcing investors to reassess whether prices have run too high for stocks, particularly the most popular ones. On Tuesday,…

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Wall Street Stumbles on Rising Treasury Yields, Inflation Worries

September 29, 2021
Business & EconomyCompaniesEconomieseconomyinflationInvestmentLocal NewsMarketsMedia & Big TechNew YorkNY NewsRegional-Local NewsStumblestreasuryUSUS NewsWall Streetyields
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Wall Street stocks ended sharply lower on Tuesday (Sept. 28) in a broad sell-off driven by rising U.S. Treasury yields, deepening concerns over persistent inflation, and contentious debt ceiling negotiations in Washington. All three major U.S. stock indexes slid nearly 2 percent or more, with interest rate sensitive tech and tech-adjacent stocks weighing heaviest as…

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Goldman Cuts China GDP Growth Forecast on Energy Supply Crunch

September 29, 2021
Business & EconomyChinaChina Business & EconomyEconomiesEnergy SupplyGDP
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SHANGHAI—Goldman Sachs has cut China’s economic growth forecast for 2021 to 7.8 percent, from 8.2 percent, as energy shortages and deep industrial output cuts add “significant downside pressures”, it said in a note on Tuesday. The power supply crunch, brought about by environmental controls, supply constraints, and soaring prices, has forced industries throughout the country…

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