Economic events

Fed meeting ahead will decide whether stocks can stabilize or fall back to bear market lows

Fed meeting ahead will decide whether stocks can stabilize or fall back to bear market lows

The Federal Reserve is expected to raise interest rates by another three-quarters of a point Wednesday, but it is what it signals about future rate hikes that will drive markets. The central bank’s two-day meeting Tuesday and Wednesday comes in a week where investors will also be on high alert for more guidance about corporate …

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Stock market could rally big in fourth quarter, but there will be more pain first

Stock market could rally big in fourth quarter, but there will be more pain first

The stock market could still see a fourth quarter rally, but it’s likely to first feel more pain. Strategists who follow charts say the big sell-off Tuesday was a negative and signals more selling ahead. But the market also could reach a bottom from which to pivot in the next couple of weeks, and the …

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Stock futures rise as Wall Street awaits key inflation report

Stock futures rise as Wall Street awaits key inflation report

UK unemployment hits 48-year low while real wages fall sharply U.K. unemployment fell to 3.6% in the three months to July, its lowest since 1974. The economic inactivity rate, meanwhile, rose by 0.4 percentage points to a five-year high of 21.7%. The Office for National Statistics attributed the change to a rise in long-term sickness …

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The Japanese yen's plunge is the most 'textbook-driven' currency move in 30 years, analyst says

The Japanese yen’s plunge is the most ‘textbook-driven’ currency move in 30 years, analyst says

The worst is not over for the Japanese yen — it could plummet even further in the coming months, according to Jesper Koll, director of financial services firm Monex Group.  “I think the parabolic overshoot is still on track, so I expect we’re going to see 150, 160 at some point over the next couple …

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Japan's Nikkei rises 2% in mixed Asia session following Wall Street's rebound rally

Japan’s Nikkei rises 2% in mixed Asia session following Wall Street’s rebound rally

Australia’s central bank sees case for slower rate hikes Reserve Bank of Australia Governor Philip Lowe said the central bank “recognizes” that “the case for a slower pace of increase in interest rates becomes stronger as the level of the cash rate rises.” National Australia Bank economist Tapas Stickland said Lowe’s remarks may be “signaling …

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Wharton’s Jeremy Siegel says the Fed needs to hike rates only by another 100 basis points

Economists are divided on the risk of a U.S. recession. And the jobs data isn’t helping

Is the U.S. economy showing no signs of a recession or hurtling inescapably towards one? Is it in fact already in one?  More than a month after the country recorded two successive quarters of economic contraction, it still depends who you ask.  Steve Hanke, professor of applied economics at Johns Hopkins University, believes the U.S. …

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Critical August jobs report expected to run hot and that could lead to a more aggressive Fed

Critical August jobs report expected to run hot and that could lead to a more aggressive Fed

People walk into a store along a busy shopping street in Manhattan on December 10, 2021 in New York City. Spencer Platt | Getty Images Job growth in August likely slowed from July’s frenzied pace, but it is still expected to have been quite strong, with broad-based hiring across many sectors. Monthly jobs data is …

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Long Covid is responsible for about a third of unfilled jobs in the U.S., new research suggests

Long Covid is responsible for about a third of unfilled jobs in the U.S., new research suggests

America’s ongoing labor shortage begs an important question: Where have all the workers gone? There are 10.7 million unfilled jobs in the U.S., according to the latest data from the U.S. Bureau of Labor Statistics. Some economists point to the high numbers of workers quitting amid the Great Resignation. New research highlights another troubling factor …

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Wharton’s Jeremy Siegel says the Fed needs to hike rates only by another 100 basis points

Wharton’s Jeremy Siegel says the Fed needs to hike rates only by another 100 basis points

Wharton business school professor Jeremy Siegel said Friday that the U.S. Federal Reserve does not need to hike more than 100 basis points because an economic slowdown is in sight. “I think we only need 100 basis points more,” Siegel said on CNBC’s “Squawk Box Asia.” “The market thinks it’s going to be a little …

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Asia-Pacific markets were mixed as BHP and Chinese real estate shares soar

Asia-Pacific markets were mixed as BHP and Chinese real estate shares soar

Indian wholesale price inflation falls to nearly 14% The annual wholesale price inflation rate in India fell to 13.93% in July from 15.18% in June, according to the latest data from India’s Office of the Economic Adviser. This was better than analysts’ estimates of 14.2%, according to a Reuters’ poll. The wholesale price inflation is …

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