Financial News
- Bob Mason
French industrial production increased by 0.8% in April. However, a fall in the production of motor vehicles and food & beverages will draw interest.
- Vladimir Zernov
The activity in the manufacturing sector contracted for the seventh consecutive month as high interest rates put pressure on businesses.
- James Hyerczyk
U.S. labor market surprises with strong job growth in May, beating estimates and indicating resilience.
- Bob Mason
German Manufacturing PMI numbers for May sent a gloomy signal, with new orders tumbling to fuel economic uncertainty,
- Bob Mason
This morning the China Caixin Manufacturing PMI supported riskier assets. A return to growth was key following the disappointing NBS numbers.
- James Hyerczyk
Salesforce beats earnings and revenue estimates, but stock price falters on higher capital costs.
- Vladimir Zernov
The probability of a 25 bps rate hike at the next Fed meeting increased from 54.8% to 69.9% after the release of the report.
- James Hyerczyk
ECB warns that higher interest rates are testing the resilience of households, companies, and property markets, increasing the risk of disorder.
- Thomas GilletTurkey: Erdoğan’s Re-election Limits Prospects for Tackling Economic Challenges, Unorthodox Policies
Turkey’s economy remains exposed to a disorderly adjustment following President Recep Tayyip Erdoğan’s election victory, putting pressure on the lira and the country’s external accounts.
- Bob Mason
It was a busy morning, with China private sector PMI and Australian inflation numbers in focus. A deeper contraction in the manufacturing sector will be a concern.
- James Hyerczyk
HP’s Q2 revenue of $12.91B falls short as PC market slowdown and reduced demand affect global PC shipments.
- Vladimir Zernov
SP500 is mostly flat today as traders wait for additional catalysts.
- James Hyerczyk
U.S. house prices rise 4.3% in Q1 2022-2023, but Western states face decline after a decade of growth.
- Vladimir Zernov
Treasury yields have started to pull back after the recent rally, providing support to precious metals markets.
- James Hyerczyk
Manufactured durable goods orders show second consecutive monthly increase, while US deficit shrinks in March.
- James Hyerczyk
PCE price index rises, reflecting increased prices for goods and services, excluding food and energy.
- Bob Mason
UK retail sales rebounded in April. Following hotter-than-expected core inflation numbers, the BoE may need to consider a more hawkish outlook.
- Bob Mason
Australian retail sales figures disappointed this morning, reflecting the effects of elevated inflation and the interest rate environment on consumption.
- James Hyerczyk
Costco earnings fall short amid reduced consumer spending, while Gap reports losses but progresses with margin improvement and cost-cutting.
- Vladimir Zernov
The National Association of Realtors believes that a sizeable increase in housing inventory is needed to boost the market.