Financial News
- James Hyerczyk
US unemployment claims rise to 220,000 with the four-week average reaching a yearly high of 1,872,250.
- Bob Mason
China’s trade data sent mixed signals today. An unexpected fall in imports could suggest a weakening demand environment, putting the spotlight on Beijing.
- Vladimir Zernov
Oil prices remain under pressure as gasoline inventories increased by 5.4 million barrels.
- James Hyerczyk
U.S. private sector added 103,000 jobs in November, falling short of the 131,000 job market expectation.
- Vladimir Zernov
Treasury yields tested new lows after the release of the report as traders bet on a more dovish Fed.
- James Hyerczyk
Euro area’s industrial prices up 0.2% in October 2023, but year-over-year fell 9.4%, with energy sector impacting EU prices.
- Bob Mason
On Tuesday, the RBA held the cash rate unchanged at 4.35% and listed a range of uncertainties and optimism about inflation to close the door on rate hikes.
- Vladimir Zernov
SP500 moved lower as traders took profits near multi-month highs, while gold pulled back towards the $2050 level in a wild trading session.
- James Hyerczyk
The Eurozone Sentix Economic Index indicates a budding economic recovery with modest but consistent improvements.
- Bob Mason
Monetary policy decisions, forward guidance, and the economic calendar will keep the markets busy before the all-important US Jobs Report on Friday.
- Bob Mason
The US courts highlight more untoward SEC actions in its regulation by enforcement maneuvers while Coinbase had an impressive November.
- Vladimir Zernov
The economic activity in the manufacturing sector contracted for the 13th consecutive month.
- James Hyerczyk
Eurozone manufacturing sees improved PMI and new orders, yet faces sharp job cuts and uneven recovery across economies.
- Bob Mason
Domestic demand supported the Chinese manufacturing sector, showing the influence of Beijing stimulus measures amid a weak global demand backdrop.
- Vladimir Zernov
The report noted that mortgage rates have declined in recent weeks, which may boost activity in the housing market.
- James Hyerczyk
October saw the U.S. PCE index rise slightly, indicating stable inflation alongside modest growth in income and spending.
- Eiko Sievert
The UK’s debt-to-GDP ratio is set to rise above official forecasts given continued pressure for more spending unless future governments raise revenues, reduce the welfare state or significantly improve growth.
- Vladimir Zernov
Strategic Petroleum Reserve increased to 351.6 million bpd as U.S. started to buy oil for reserves after the strong pullback.
- James Hyerczyk
Q3 2023 sees US GDP grow 5.2%, driven by investment, spending, and stable inflation, boosting economic outlook.
- Vladimir Zernov
The report indicated that consumers remained preoccupied with rising prices.