Financial News
- Alvise Lennkh
After Italy’s fiscal deficit revisions for 2020-22, the government’s response to stop tax credit transfers signals commitment to contain future costs, even at the risk of curbing economic growth.
- Vladimir Zernov
The appetite for risk continues to grow, which is bullish for stocks and bearish for the U.S. dollar.
- Bob Mason
It was a busy morning, with the Eurozone Composite PMI signaling an improving macroeconomic environment. However, overseas demand remained weak.
- Vladimir Zernov
Salesforce increased its share buyback program to $20 billion.
- James Hyerczyk
The number of people applying for unemployment benefits in the U.S. fell for a third straight week, highlighting a stubbornly strong labor market.
- Bob Mason
Euro area core inflation came in hotter than expected this morning. The latest numbers could give the ECB hawks more voice post-March.
- Dennis Shen
The Dutch economy and the government’s fiscal position were surprisingly resilient in 2022 but slowdown and an ambitious budgetary programme may intensify fiscal pressures in the medium run.
- Vladimir Zernov
S&P 500 Global Manufacturing PMI has also missed analyst expectations.
- James Hyerczyk
Kohl’s reported a surprise quarterly loss and forecast full-year profit well below analysts’ estimates due to steep discounts.
- Bob Mason
Euro area manufacturing PMI numbers failed to move the dial as the China PMIs resonated. German inflation figures will influence, however.
- Vladimir Zernov
Chicago PMI has also missed expectations, highlighting the negative impact of higher interest rates.
- James Hyerczyk
Home prices in December were 5.8% higher than the previous December, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
- Bob Mason
Economic data from France supports a 50 basis point rate hike in March, with a pickup in French inflation likely to be of some concern for the ECB.
- Vladimir Zernov
Pending Home Sales continue to recover despite high interest rates.
- James Hyerczyk
U.S. Core Durable Goods Orders rose more than expected in January, but Durable Goods Orders posted a steep decline.
- Bob Mason
It was a busy morning for the EUR/USD and the DAX. The Eurozone business and consumer survey drew interest ahead of the US session.
- Bob Mason
It is a busy week ahead for the global financial markets. After the shift in sentiment toward the Fed, central bank chatter will draw plenty of interest.
- Bob Mason
US mortgage rates were on the rise for a third consecutive week, with the latest Core PCE Price Index numbers signaling a possible return to 7.00%
- Vladimir Zernov
The better-than-expected New Home Sales and Consumer Sentiment reports put additional pressure on riskier assets.
- James Hyerczyk
On an annual basis, the Core PCE Index rose 4.4%.