ECO

US weekly jobless claims fall to five-month low;  Q2 GDP unrevised

US weekly jobless claims fall to five-month low; Q2 GDP unrevised

Weekly jobless claims drop 16,000 to 193,000 Continuing claims decrease 29,000 to 1.347 million Second-quarter GDP contraction unrevised at 0.6% rate WASHINGTON, Sept 29 (Reuters) – The number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains resilient despite rising headwinds from the Federal …

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Fed officials stare down market volatility, say inflation remains paramount focus

Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Sept 26 (Reuters) – US Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping US stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation. Asked at a Washington Post event whether he felt US investors had …

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SNAPSHOT Wall Street opens lower on rate-hike, recession fears

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, US, September 7, 2022. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register Sept 26 (Reuters) – Wall Street’s main indexes opened lower on Monday as investors worried that the Federal Reserve’s aggressive push to curb inflation …

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Japan won’t intervene to defend 145 yen line-in-the-sand, ex-top foreign-exchange diplomat says

Banknotes of Japanese yen are seen in this illustration picture taken September 23, 2022. REUTERS/Florence Lo/Illustration Register now for FREE unlimited access to Reuters.com Register TOKYO, Sept 26 (Reuters) – Japan likely won’t intervene in the currency market to defend a line-in-the-sand such as 145 yen versus the dollar, and instead limit any further action …

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In China, home buyers occupy their ‘rotting’, unfinished properties

GUILIN, China, Sept 26 (Reuters) – For six months, home for Ms. Xu has been a room in a high-rise apartment in the southern Chinese city of Guilin that she bought three years ago, attracted by brochures touting its riverfront views and the city’s clean air. Her living conditions, however, are far from those promised: …

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Inflation fight can avoid deep pain, Atlanta Fed president says

President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019. REUTERS/Clodagh Kilcoyne Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Sept 25 (Reuters) – Atlanta Federal Reserve President Raphael Bostic said on Sunday he still …

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Goldman Sachs cuts 2022 target for S&P 500 by 16%

People wearing masks, following the coronavirus disease (COVID-19) outbreak, are seen near an electronic board showing Dow Jones and S&P 500 stock indexes, at the Lujiazui financial district in Shanghai, China November 9, 2020. REUTERS/Aly Song/File Photo Register now for FREE unlimited access to Reuters.com Register Sept 23 (Reuters) – Goldman Sachs has cut its …

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Yellen says Russia offering ‘enormous discounts’ on oil to China, India

US Treasury Secretary Janet Yellen holds a news conference in the Cash Room at the US Treasury Department in Washington, US July 28, 2022. REUTERS/Jonathan Ernst/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Sept 22 (Reuters) – A planned Western price cap on Russian oil is already making a difference, US …

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US labor market resilient as recession signals grow stronger

Weekly jobless claims increase 5,000 to 213,000 Continuing claims drop 22,000 to 1.379 million WASHINGTON, Sept 22 (Reuters) – The number of Americans filing new claims for unemployment benefits increased moderately last week, indicating the labor market remains tight despite the Federal Reserve’s attempt to cool demand with aggressive interest rate increases. The weekly unemployment …

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Morning Bid: BoJ intervention and rate hikes, say no more

Register now for FREE unlimited access to Reuters.com Register A look at the day ahead in US and global markets from Dhara Ranasinghe. What a 24 hours it’s been in financial markets. Let’s start with Japan — just hours after confirming an ultra-loose monetary policy stance, authorities intervened to buy yen for the first time …

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