S&P 500, Nasdaq close up 4th straight week as optimism grows

S&P 500, Nasdaq close up 4th straight week as optimism grows

Nasdaq, S&P 500 post longest weekly win streaks since November S&P 500 recovers 50% of bear market losses S&P 500 is up 17.7% from a mid-June low NEW YORK, Aug 12 (Reuters) – Wall Street closed higher on Friday as signs that inflation may have peaked in July increased investor confidence that a bull market … Read more

Wall Street rally lifts Nasdaq 20% from low as inflation fears ebb

Wall Street rally lifts Nasdaq 20% from low as inflation fears ebb

Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, US, August 8, 2022. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register Fed now seen delivering 50 bps hike in September US consumer price growth slows in July Musk sells Tesla shares worth $6.9 … Read more

The Fed may slow rate hikes, but policymakers say more is needed

The Fed may slow rate hikes, but policymakers say more is needed

The Federal Reserve building is pictured in Washington, DC, US, August 22, 2018. REUTERS/Chris Wattie/File Photo Register now for FREE unlimited access to Reuters.com Register Kashkari sticks to his view of 3.9% fed funds rate at end-2022 Evans sees a 3.4% policy rate this year Both push back on market expectations for rate cuts next … Read more

China’s factory inflation hits 17-month low, consumer prices speed up

China’s factory inflation hits 17-month low, consumer prices speed up

A worker walks past steel rolls at the Chongqing Iron and Steel plant in Changshou, Chongqing, China August 6, 2018. REUTERS/Damir Sagolj/File Photo Register now for FREE unlimited access to Reuters.com Register July producer inflation at lowest since Feb 2021 July consumer inflation at 2-year high PBOC seen staying accommodative to spur growth BEIJING, Aug … Read more

Nasdaq closes lower as chipmaker Micron’s warning renews tech rout

Nasdaq closes lower as chipmaker Micron’s warning renews tech rout

Micron falls on lowered revenue forecast Semiconductor stocks drop for third session Novavax tumbles after cutting revenue view by half NEW YORK, Aug 9 (Reuters) – The Nasdaq closed down on Tuesday after a dismal forecast from Micron Technology pulled chip makers and tech stocks lower as investors await US inflation data that could lead … Read more

Cryptoverse: Blockchain bridges fall into troubled waters

Cryptoverse: Blockchain bridges fall into troubled waters

Representations of cryptocurrency Bitcoin, Ethereum and Dash plunge into water in this illustration taken, May 23, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Aug 9 (Reuters) – Another day, another hack – and another blockchain bridge burned. When thieves stole an estimated $190 million from US crypto firm Nomad last … Read more

China’s exports gain steam but outlook cloudy as global growth cools

China’s exports gain steam but outlook cloudy as global growth cools

China July exports grow at faster pace, beat forecast Imports again disappoint, highlighting weak domestic demand Trade balance hit record high in July Weak foreign demand adds stress to trade, economic outlook BEIJING, Aug 7 (Reuters) – China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as it … Read more

US labor market defies recession fears as job growth surges in July

US labor market defies recession fears as job growth surges in July

Nonfarm payrolls increased by 528,000 in July Unemployment rate falls to 3.5% from 3.6% in June Average hourly earnings rise 0.5%; up 5.2% year-on-year Participation rate falls to 62.1% from 62.2% in June WASHINGTON, Aug 5 (Reuters) – US job growth unexpectedly accelerated in July, lifting the level of employment above its pre-pandemic level and … Read more

Sterling falls as BoE expects recession, US futures up

Sterling falls as BoE expects recession, US futures up

Bank of England hikes rates by 50 basis points BoE expects recession throughout 2023 Fed official: 50bp hike in September “reasonable” Oil stabilizes after hitting a six-month low Lufthansa returns to operating profit LONDON, Aug 4 (Reuters) – Sterling fell on Thursday after the Bank of England followed its counterparts in the United States and … Read more

Fed officials beat inflation road; 50-basis-point rate hike ‘reasonable’ next month

The Fed may slow rate hikes, but policymakers say more is needed

Aug 3 (Reuters) – Federal Reserve officials voiced their determination again on Wednesday to rein in high inflation, although one noted a half-percentage-point hike in the US central bank’s key interest rate next month might be enough to march towards that goal. “I start from the idea that 50 (basis points) would be a reasonable … Read more