Financial News

Manufacturing PMI and Services PMI reports indicated that rising wage costs and increases in input prices hurt businesses in January.

The Eurozone private sector returned to growth in January. However, wage growth and prices charge inflation will raise concerns for the ECB.

The report indicated that consumer activity remained under pressure despite the recent improvements in the European energy markets.

Bernstein analyst Mark Moerdler downgraded the company recently to underperform from market perform because it has fallen into “growth purgatory.”

US mortgage rates fell for a second consecutive week, with easing inflationary pressures and recession fears sending rates lower. Applications surged.

The stock rallies as Alphabet’s decision could boost profits in 2023.

The housing market is entering “nobody’s market” territory as buyers and sellers remain largely in a stalemate,” – Realtor.com.

UK economic indicators delivered the Bank of England plenty to think about, with the latest retail sales figures removing the hope of a mild recession.

Global Paid Net Subscribers showed an increase of 7.66 million, compared to the estimate of 4.57 million adds, according to StreetAccount estimates.

Traders focused on the surprising increase in crude inventories and ignored the decline in domestic oil production.

US housing starts slumped by 1.4 percent to an annual rate of 1.382 million in December. The decrease was much smaller than expected.

Today, ECB President Lagarde quashed hopes of a Q1 policy pivot. The monetary policy meeting minutes also removed any monetary policy uncertainty.

U.S. retail sales for December fell worse than expected. U.S. wholesale prices also declined much more than expected.

The Retail Sales report showed that consumer activity remained under pressure in December. 

France’s fiscal credibility and capacity to resist external shocks are at stake in its contentious pension reform, but it is far from the most important determinant of the country’s fiscal outlook.

The UK annual inflation rate softened in December. However, inflation remained elevated and will give the Bank of England more to fret about.

High interest rates continue to put pressure on business activity.

Despite the mixed results from Goldman Sachs and Morgan Stanley, investors are being cautious, taking the indexes lower ahead of the opening bell.

UK wage growth figures for November beat forecasts, with private sector wage growth the most marked outside of the COVID-19 pandemic period.

Russia’s seaborne exports have suddenly increased despite the country’s previous plans to cut oil production in order to limit the discount on its Urals oil.