US weekly jobless claims drop to nine-month low; productivity gains speed

Weekly jobless claims drop 3,000 to 183,000 Continuing claims decrease 11,000 to 1,655 million Productivity accelerates at a 3.0% rate in the fourth quarter Unit labor costs grow at 1.1% pace WASHINGTON, Feb 2 (Reuters) – The number of Americans filing new claims for unemployment benefits dropped to a nine-month low last week as the … Read more

Euro dips as ECB meets market expectations

NEW YORK, Feb 2 (Reuters) – The euro dipped against the dollar on Thursday after the European Central Bank (ECB) hiked interest rates by a widely expected 50 basis points and offered no new hawkish surprises, while the Bank of England (BofE) adopted a more dovish tone on inflation. The ECB penciled in at least … Read more

Gulf markets mixed as Qatar falls, Dubai gains

Feb 2 (Reuters) – Qatar’s stock market was the worst performer among mixed Gulf bourses on Thursday amid volatile energy markets, while Dubai shares ended higher on a strong banking sector performance. The Qatari stock index (.QSI) dropped 0.9%, falling for a fourth consecutive session, with most of its constituent stocks in negative territory. Index … Read more

Morning bid: Markets go all in for disinflation

SYDNEY, Feb 2 (Reuters) – A look at the day ahead in European and global markets from Wayne Cole. Push back? What push back? The main theme ahead of the Fed announcement was that Chair Jerome Powell would definitely, totally, absolutely push back against the recent rapid easing in market conditions given inflation was still … Read more

Rupee likely to open higher after Fed, local equities in focus

MUMBAI, Feb 2 (Reuters) – The Indian rupee is expected to open stronger on Thursday, as markets perceived the US Federal Reserve to be a bit dovish, with investors keeping an eye on domestic equities after late developments in the Adani saga. The rupee was seen around 81.70 per US dollar in early trades, compared … Read more

Dollar falls to nine-month low as Powell notes progress in disinflation

NEW YORK, Feb 1 (Reuters) – The dollar extended losses on Wednesday and fell to a nine-month low against a basket of currencies after Federal Reserve Chair Jerome Powell spoke of making progress in bringing down inflation pressures, even as the US central bank warned of further monetary policy tightening. Powell, speaking in a news … Read more

Asian shares jump, dollar eases after Powell comments

SINGAPORE, Feb 2 (Reuters) – Asian stocks jumped on Thursday while the dollar eased after Federal Reserve Chair Jerome Powell said a “disinflationary” process was underway, boosting risk appetite and hope that the US central bank will soon end its monetary tightening streak. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.84% ​​higher, … Read more

Wall Street down but off session lows after Fed rate hike, trading choppy

Fed raises interest rates, sees “ongoing increases” Indexes down: Dow 0.96%, S&P 0.40%, Nasdaq 0.03% Feb 1 (Reuters) – US stock indexes were lower on Wednesday in choppy trade, bouncing off session lows hit when the Federal Reserve increased interest rates by a quarter of a percentage point and said it expects “ongoing increases” in … Read more

Biden moves to slash US credit card fees, app charges

WASHINGTON, Feb 1 (Reuters) – The White House on Wednesday unveiled fresh efforts to slash credit card late fees and drive down the prices that Apple Inc (AAPL.O) and Google parent Alphabet Inc (GOOGL.O) charge on mobile app stores . The move is part of a larger policy drive to promote competition in consumer markets, … Read more

White House blasts Exxon over historic $56 billion annual profit

WASHINGTON, Jan 31 (Reuters) – The White House on Tuesday expressed outrage on Tuesday at Exxon Mobil Corp’s record net profit in 2022 of $56 billion, a historical high not just for the company but for the entire Western oil industry. Oil majors are expected to break their own annual records due to high prices … Read more