Financial News
- James Hyerczyk
The U.S. private sector labor market fell in January, with companies adding fewer jobs due to weather-related issues, according to ADP.
- Bob Mason
It was a busy morning, with euro area inflation and PMIs drawing interest. However, the Fed Chair Powell press conference will be the main event.
- Vladimir Zernov
Markets are choppy as traders prepare for the Fed decision, which will be released tomorrow.
- James Hyerczyk
As the Federal Reserve moves interest rates higher, mortgage financing continues to be a headwind for home prices.
- Bob Mason
Economic data from the euro area supported a hawkish ECB stance on monetary policy today. However, bets of a hawkish Fed Chair are clouding the picture.
- Vladimir Zernov
The report indicated that businesses remained worried about rising input costs and the upcoming recession.
- Bob Mason
It was a busy start to the day on the economic calendar. The German economy contracted in Q4, creating uncertainty going into 2023.
- Dan Blystone
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- Bob Mason
US mortgage rates fell for a third consecutive week, according to figures from Freddie Mac. Another sharp decline would boost homebuyer appetite.
- Vladimir Zernov
The Pending Home Sales report has also exceeded analyst estimates, indicating that the housing market has started to recover.
- Bob Mason
Euro area loan growth slowed further in December, reflecting the impact of ECB monetary policy on credit appetite. Next up, ECB President Lagarde.
- Vladimir Zernov
Traders do not expect that Fed will be more hawkish after the release of the better-than-expected housing market data.
- James Hyerczyk
Fourth-quarter gross domestic product rose at a 2.9% annualized pace, according to Commerce Department data.
- James Hyerczyk
Tesla beat Wall Street targets for fourth-quarter revenue and profit despite a sharp decline in vehicle profit margins.
- Levon Kameryan
Turkish President Recep Tayyip Erdoğan is short on time to shore up government support as a disruptive rebalancing of the economy looms, hence his decision to hold elections earlier than expected.
- James Hyerczyk
Boeing posts quarterly loss as labor and supply strains overshadow increase in jet demand while AT&T forecasts annual profit below estimates.
- Vladimir Zernov
USD/CAD moved higher after the release of the interest rate decision as traders reacted to dovish signals from BoC.
- Bob Mason
Both Input and Output UK Producer Prices softened by more than forecast in December. However, wage growth remains a headache for the BoE.
- James Hyerczyk
Microsoft rose as much as 5% in extended trading on Tuesday after the company reported fiscal second-quarter earnings that topped analysts’ estimates.
- James Hyerczyk
The Dow Jones is down nearly 200 points as weak performances by components Johnson & Johnson, Verizon and GE drag the blue chip average lower.