[ad_1] Last Updated: May 02, 2023, 00:03 IST China’s manufacturing activity unexpectedly fell in April, official data showed on Sunday, the first contraction since December in the manufacturing purchasing managers’ index. (Image: Reuters File) Brent crude fell $1.88, or 2.3%, to $78.45 a barrel by 1:28 pm EDT (1728 GMT). U.S. West Texas Intermediate (WTI) … Read more
[ad_1] The U.S. dollar rose on Friday after data showed inflation grew in March, though at a slower pace, keeping the Federal Reserve still firmly on track to raise interest rates at next week’s monetary policy meeting. The yen, meanwhile, fell across the board, after the Bank of Japan said it would maintain ultra-low interest … Read more
[ad_1] Last Updated: April 28, 2023, 02:41 IST 22 central banks have their currencies pegged to the US dollar. (Representative image/Reuters) Economists polled by Reuters had forecast GDP rising at a 2.0% rate The dollar rose on Thursday as weaker-than-expected U.S. economic growth in the first quarter is viewed as not likely to deter the … Read more
[ad_1] Last Updated: April 25, 2023, 01:14 IST European stocks closed essentially unchanged ahead of potentially market-moving earnings reports, which include a stream of European banks aside from U.S. megacaps.(Representative image) Earnings this week include a spate of potential market movers, including tech and tech-adjacent Alphabet Inc, Microsoft Corp, Meta Platforms Inc and Amazon.com Wall … Read more
[ad_1] Last Updated: April 22, 2023, 03:12 IST The broad-based S&P 500 also edged up 0.1 percent to 4,133.52, as did the tech-rich Nasdaq Composite Index, which stood at 12,072.46.(Representative image) Stocks traded within a narrow range for most of the day, extending a choppy period in a week with few major economic releases Wall … Read more
[ad_1] The dollar strengthened on Wednesday, lifted by rising Treasury yields, though the pound gained against the greenback after British inflation stayed above 10 percent in March and put more pressure on the Bank of England to keep raising rates. The dollar index, which tracks the currency against a basket of its peers, was up … Read more
[ad_1] Bitcoin dropped back below the closely watched $30,000 level amid a wider retreat in cryptocurrencies, as stubbornly high UK inflation fanned fears of higher-for-longer interest rates. The largest token fell as much as 4.5% before paring some of the slide to trade at about $29,175 as of 11:50 a.m. in London on Wednesday. Ether … Read more
[ad_1] WASHINGTON: US retail sales fell more than expected in March as consumers cut back on purchases of motor vehicles and other big-ticket items, suggesting that the economy was losing steam at the end of the first quarter because of higher interest rates.Ebbing demand for goods is undercutting production at factories, with other data on … Read more
[ad_1] America’s employers added a solid 236,000 jobs in March, suggesting that the economy remains on solid footing despite the nine interest rate hikes the Federal Reserve has imposed over the past year in its drive to tame inflation. The unemployment rate fell to 3.5 percent, just above the 53-year low of 3.4 percent set … Read more
[ad_1] NEW YORK: Stocks on Wall Street mostly slipped Wednesday following the latest signals that the US economy is slowing under the weight of much higher interest rates.The S&P 500 dipped 10.22 points, or 0.2%, to 4,090.38, a day after it broke a four-day winning streak. The Dow Jones Industrial Average rose 80.34, or 0.2%, … Read more