Economic events
Breaking down the market’s tumble into a bear market — and what comes next
The relentless sell-off in stocks started marking some grim milestones this past week. The S & P 500 briefly dipped on Friday into bear market territory, trading more than 20% below its January intraday record. There’s no official definition for a bear market, so investors will debate whether we are in one officially now or […]
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Recession is ‘likely,’ former SEC chief economist says. Here’s his advice for how to prepare
Larry Harris Source: Larry Harris To tame the recent inflationary spike, the Federal Reserve signaled it will continue to raise interest rates. When rates are high, consumers get a better return on the money they stash in a bank account and must shell out more to get a loan, which can trigger them to borrow […]
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UK retail sales jump unexpectedly, but big picture bleak
A shopper wearing a face mask in Regent Street, London, after the second national lockdown ended and England has a strengthened tiered system of coronavirus restrictions. Victoria Jones – PA Images | PA Images | Getty Images British retail sales jumped unexpectedly in April as shoppers loaded up on alcohol and tobacco, likely a blip […]
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The sell-off has entered ‘a new phase,’ Allianz’s El-Erian says. How investors can deal with it
Wednesday marked a new chapter in the market sell-off, as investors fled stocks and sought safety in bonds, according to Allianz chief economic advisor Mohamed El-Erian. “Today’s a new phase as opposed to just a continuation of what we’ve seen,” he said on CNBC’s ” Closing Bell ” on Wednesday. “Initially this was a sell-off […]
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As inflation slows and the ruble rallies, Russia is hoping to avoid a financial crisis
Russian President Vladimir Putin. Pool | Reuters Russia believes it has swerved a financial crisis as its currency rallies and economic data improves, but strategists say the numbers mask some ugly truths for Moscow. Although inflation in the country is running hot, there are signs that price rises are slowing and will continue to do […]
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Goldman Sachs reveals how to trade the ‘troubling triad’ hitting markets right now
Goldman Sachs ‘ Asia strategists say markets are facing a “troubling triad” of rising rates, recession risk and dollar strength — but they expect some stocks to benefit. Here are some of their buy-rated picks, a number of which are on Goldman’s conviction list. “Asian regional markets are off to one of the worst starts […]
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Chinese e-commerce giant JD beats estimates despite slowest quarterly revenue growth on record
Chinese e-commerce giant JD.com posted its slowest quarterly revenue growth on record for the first three months of the year, as Covid-19 lockdowns in the world’s second-largest economy weighed on consumer spending. JD.com beat estimates on revenue but missed expectations on profit. Here’s how JD did in the first quarter of 2022, versus Refinitiv consensus […]
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10-year Treasury yield climbs as investors await economic data, clues on monetary policy
The yield on the benchmark 10-year Treasury note climbed on Tuesday as investors awaited a fresh batch of economic data and watched for clues on the path of monetary policy. The yield on the 10-year Treasury note last traded up 4 basis points to 2.9240%, while the yield on the 30-year Treasury bond rose 4 basis points to […]
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Stock futures are flat after S&P, Nasdaq start the week in the red
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 13, 2022. Brendan Mcdermid | Reuters U.S. stock index futures were flat during overnight trading on Monday, following a volatile session that saw the S&P 500 and Nasdaq Composite continue their march lower. Futures contracts tied to […]
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UK economy ‘only going to get worse’ as growth slowdown begins
The U.K. economy shrank by 0.1% in March and the situation is expected to worsen as the country’s cost-of-living crisis escalates. Tim Ireland | Xinhua News Agency | Getty Images LONDON — A growth slowdown is underway in the U.K. after the economy shrank by 0.1% in March, with economists expecting further contractions this year. […]
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