Markets have misinterpreted the most recent statements from the Fed – and its likely the central bank will push rates past 4%, former New York Fed president says Stocks have rallied since the last Federal Reserve meeting, and since data showed inflation easing in July. But markets have misinterpreted the Fed’s statements on its …
New York Empire State factory gauge plunges in August deep into contraction territory General conditions index drops 42 points to negative 31.3 — the second largest decline on record The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, plummeted 42.4 points to negative 31.3 in August, the …
Inflation at 2% target needed for months to be sure, he says Richmond Fed leader cites research work of Marvin Goodfriend Federal Reserve Bank of Richmond President Thomas Barkin said the central bank needs to keep raising interest rates until it’s clear inflation is running at its 2% target even if the economy weakens to …
Continue reading “Fed’s Barkin Urges Keeping Rates High to Avoid 1970s-Style Error”
Several Wall Street experts are warning that despite moving higher in recent weeks, the stock market still has further to fall—with recent gains likely to be nothing more than a “bear market rally,” as investor concerns about Fed rate hikes and slowing economic growth continue to weigh on markets. Despite an earnings season marked by …
Continue reading “Warning Its A ‘Bear Market Rally’…. Stocks Could Hit New Lows”
Investing veteran Dennis Gartman says stocks are in a bear market in an “exuberant” event. The market recent strength comes as surprise to Gartman, as US Treasury yields remain inverted. Despite a stunning July jobs report, all data points to a recession, he added. Investing veteran Dennis Gartman says stocks are rallying in a bear …
Continue reading “Dennis Gartman says stocks are in a bear market”
The S&P 500 index on Friday finished above a chart level that delivered a dose of encouragement to stock-market bulls arguing that the U.S. bear-market bottom is in, though technical analysts warned that it might not be a signal to go all in on equities. The S&P 500 SPX, +1.73% on Friday rose 1.7% to …
Continue reading “Stock market bulls are cheering the S&P 500’s close above 4,231”
The S&P 500 marked a much-watched milestone Friday: it retraced half the losses from its steep drop this year in a bullish signal of market recovery. With a 1.7% one-day gain, the index surpassed the 4,232 level and closed the week at 4,280, meaning it has recouped more than 50% of the losses it …
Continue reading “Out of the Woods? The S&P 500 Recovers 50% of Year’s Drawdown”
The German Economy Ministry revised down its economic outlook for the second part of 2022 on Friday, blaming the decline in gas deliveries from Russia that have boosted the ongoing energy crisis across the continent and brought “significantly poorer prospects.” The situation deteriorated further due to persisting supply constraints and the overall uncertainty prompted by …
Continue reading “German govt worsens H2 outlook over energy crisis”
The United Kingdom gross domestic product (GDP) fell 0.1% in the second quarter of 2022, according to a first estimate released by the country’s Office for National Statistics (ONS) on Friday. The services sector contributed largely to the decline, with an output drop of 0.4%. On an annual basis, the UK GDP was up 2.9% …
The Producer Price Index (PPI) in the United States dropped by 0.5% in July on a seasonally adjusted monthly basis, the US Bureau of Labor Statistics said on Thursday. On an unadjusted basis, the index rose 9.8% for the 12 months ended in July. The overall monthly drop was mostly due to a 1.8% decrease …