federalreservesystem
European stock markets saw an uptick on Friday, buoyed by stronger-than-expected UK growth figures and growing optimism that the U.S. Federal Reserve may implement rate cuts. Germany’s DAX index rose by 0.4%, France’s CAC 40 increased by 0.5%, and the UK’s FTSE 100 also climbed by 0.4%. UK economy exits recession, spurring investor confidenceAdding to the positive market sentiment, the UK announced that its economy grew by 0.6% in the first quarter of 2024, surpassing the anticipated 0.4% and effectively pulling out of a recession that began in the latter half of the previous year. Additionall...
Invezz
The number of Americans filing for new unemployment benefits rose last week to the highest level in more than eight months, indicating a further cooling of the labor market. According to the Labor Department’s latest weekly jobless claims report, initial claims for state unemployment benefits surged by 22,000 to a seasonally adjusted 231,000 for the week ended May 4. This marks the highest figure since late August and the most significant increase in nearly four months. Economists’ expectations exceededThe rise in unemployment claims exceeded economists’ expectations, who had forecast claims t...
Invezz
Overwhelmingly, analysts are expecting the Fed to hold rates steady yet again, neither providing rate cuts or hikes, for May. But for how long can the Fed keep this up? And what will be the consequences? Potential consequence 1. Increasingly impatient (and thrifty) consumersThis one is fairly self-explanatory. For months, the public of the US have been promised relief from a risen cost of living in the form of interest rate cuts. And that has not manifested. Here is what David Morrison, analyst at Trade Nation, says: As we’ve seen from this year’s CPI readings, and Friday’s Core PCE, inflation...
Invezz
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