Stocks rallied Wednesday after the Federal Reserve announced its much anticipated 0.75 percentage point rate increase to fight inflation, but hinted that it could slow the pace of its hiking campaign at some point. The Dow Jones Industrial Average jumped 436.05 points, or nearly 1.4%, to 32,197.59. The S&P 500 gained 2.62% to close at … Read more
Markets have staged a number of rallies recently, but analysts are divided over whether these signal the end of the bear market could be close. It comes at the height of earnings season, with more than 150 S & P 500 names set to report, including Apple, Alphabet, Meta Platforms and McDonald’s. As investors scramble … Read more
During the 2010s, Sri Lanka had one of the fastest-growing economies in Asia. Things took a 180-degree turn at the end of the decade as the country’s economy stumbled. In May 2022, the government defaulted on its debt for the first time in history. As inflation continued to spiral out of control, with a massive … Read more
US Treasury yields were slightly lower on Friday as market participants awaited a fresh batch of economic data. The yield on the benchmark 10-year Treasury note dipped less than 1 basis point to 2.8857%. The yield on the 30-year Treasury bond also ticked under 1 basis point lower to 3.1554%. Yields move inversely to prices, … Read more
Shoppers walk through the rain on Oxford Street in London. Tolga Akmen/AFP/Getty Images The UK economy contracted in the second quarter of 2022, as the country’s cost-of-living crisis hit home. Official figures published Thursday showed that gross domestic product (GDP) shrank by 0.1% quarter on quarter in the second three months of the year, less … Read more
Real estate investors are now being “careful and prudent” about deploying capital in the face of growing economic uncertainty around the world, said leading Singaporean property investment manager CapitaLand Investment. Its half-year financial results on Thursday revealed that CapitaLand Investment’s profit fell 38% to $433 million Singaporean dollars ($316 million) for the first half of … Read more
SINGAPORE – Japan stocks surged on return to trade, while shares in the Asia-Pacific were mostly lower on Friday following strong gains in the previous session as investors digested the US inflation report. The Nikkei 225 jumped 2.15%, while the Topix index rose 1.86%. Japanese markets were closed Thursday for a holiday. In Australia, the … Read more
A shopping cart is seen in a supermarket as inflation affected consumer prices in Manhattan, New York City, US, June 10, 2022. Andrew Kelly | Reuters If inflation has been the biggest threat to US economic growth, then July’s data should provide signs that there is at least some relief in the pipeline. Prices were … Read more
Pakistan’s finance minister said the government has taken steps that will put the country on the right track and help the South Asian nation avoid an economic collapse. But that will cause pain for its people, he added. The country is desperately fighting for its survival as the recent rise in commodity and energy prices … Read more
Even though stocks have risen from their most recent lows, they could have further to fall, according to Bank of America. “The S & P 500 has risen 13% from June lows, but we think it’s premature to declare a ‘big low’ in the market and see scope for more downside,” investment and ETF strategist … Read more
