Page 27 - Us Economy

Global share trade mixed on optimism about economies of US, China

Global shares were mixed Wednesday as markets looked to strong economic signs out of the US and China as drivers of growth. European shares slid in early trading, while benchmarks finished higher in Japan, China and Australia. Shares fell in South Korea. France's CAC 40 fell 0.3% to 6,570.14 in early trading, while Germany's DAX slipped 0.7% to 13,812.17. Britain's FTSE 100 shed 0.3% to 7,513.18. US shares were set to drift lower with Dow futures down 0.4% at 33,995.0. S&P 500 futures fell 0.6% to 4,284.25. Analysts warned major risks remain, such as surging COVID-19 cases in some countries in Asia, along with worries about global inflation and China's policies to curb infections. Expectations of economic growth in China and the US will likely remain key to gauging recession fears. China's zero-COVID' policy is still an important headwind for global growth, said Anderson Alves at ActivTrades. Japan's benchmark Nikkei 225 added 1.2% to finish at 29,222.77. Australia's S&P/ASX ..

Wall Street Week Ahead: Soft landing hopes for US economy brighten outlook

While last week's strong jobs report allayed fears of recession, inflation numbers this week showed the largest month-on-month deceleration of consumer price increases since 1973

US weekly jobless claims rise to 262,000, highest since Nov 2021

Initial jobless claims in the US last week rose to 262,000, hitting a new high since November 2021, the US Labour Department reported

US inflation will likely stay high in coming months even as gas prices fall

The forecast by economists, if it proves correct, would raise hopes that inflation might have peaked and that the run of punishingly higher prices is beginning to ease slightly

Joe Biden signs $280-billion CHIPS act in bid to boost US over China

The future of the chip industry is going to be made in America, Biden said, referring to the diminutive devices that power everything from smartphones to computers to automobiles.

Joe Biden to sign $280-bn CHIPS act in bid to boost US over China

We are going to invest it in America, Biden said on Friday. We're going to make it in America. We're going to win the economic competition of the 21st century in America.

Oil prices edge up as strong economic data feeds hopes for demand

Brent crude futures were up 93 cents, or 0.9%, at $95.85 a barrel by 11:20 a.m. ET (1520 GMT). U.S. West Texas Intermediate crude was at $89.68 a barrel, up 67 cents, or 0.8%.

Rupee falls as strong US jobs data rekindles fear of aggressive Fed hikes

The Federal Reserve has already raised interest rates by 225 basis points since March 2020

'Sizzling' US jobs data for July makes case for bigger Fed Rate increases

US employers added 528,000 jobs last month, more than all estimates, the unemployment rate fell to a five-decade low of 3.5%, and wage growth accelerated

US job growth beats expectations; unemployment rate declines 3.5%

Data for June was revised higher to show 398,000 jobs created instead of the previously reported 372,000.

Dollar edges higher as investors turn attention to key US jobs data report

The U.S. dollar index, which measures the greenback against a basket of currencies, was up 0.22% to 105.93, after sliding 0.68% on Thursday, the largest fall since July 19.

Oil prices slip as weak manufacturing data stokes recession fears

Brent crude futures fell 29 cents to $99.74 a barrel by 0002 GMT, with WTI crude futures down 22 cents at $93.67 a barrel

Trump vs Biden Rematch in 2024? Polls suggest America wants new face

Odds seem stacked against the Democrats in the upcoming Nov mid-term polls, with President Joe Biden, First Lady Jill Biden and Vice President Kamala Harris' ratings plummeting by the day

Rupee gains vs dollar as weak US GDP data softens Fed rate hike view

Dollar index falls as a contraction in US GDP eases Fed hike fears

World stocks eye best month since late 2020, traders bet on weak US economy

As inflation surges across major markets and central bankers fight to raise rates without killing off growth, riskier markets like stocks have tended to react positively to any softening in sentiment

US economy shrinks for a second quarter, fueling recession fears

Surging inflation, rising rates, and continued supply chain snags to blame

Wall Street gains on hopes of smaller rate hikes as economy shrinks again

US economy contracts again in second quarter; Meta Platforms revenue drops for first time; Qualcomm flags weak smartphone demand

Mastercard warns of inflation pinch after solid quarter for card issuers

Consumers across the globe have been showing signs of cracking in face of decades-high price pressures, with purchases at retailers including Walmart shifting away from big-ticket items to essentials

Dollar pares gains as US economic growth contracts for second quarter

The second straight quarterly decline in GDP meets the standard definition of a recession. It comes as the Fed aggressively hikes rates in an attempt to choke off soaring inflation.

US GDP shrank 0.9% in Q2, its second straight drop, raising recession odds

Consecutive quarters of falling GDP constitute one informal, though not definitive, indicator of a recession