(Reuters) – Federal Reserve policymakers this week signaled they will start raising U.S. interest rates in March to battle inflation that’s eroding the value of workers’ recent wage gains and putting the policysetters under a political spotlight. In what were among the last public comments from U.S. central bankers before their next rate-setting meeting, Fed …
Continue reading “Fed’ Daly ‘definitely’ sees rate hike as early as March”
The World Health Organization reported record numbers of cases of Covid-19 globally for a single week amid the omicron surge. A report from the WHO published Tuesday noted that the highest numbers of new cases over the week came from the U.S., with 4.6 million new cases. But hospitalizations are lower than in previous surges, …
WASHINGTON (Reuters) – Controlling inflation that has spiked to nearly a 40-year high is the “most important task” facing the Federal Reserve right now, Fed Governor Lael Brainard said in prepared remarks for a Senate hearing on her nomination to become vice chair of the U.S. central bank. “We are seeing the strongest rebound in …
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Empty shelves have returned at supermarkets as grocery employees call out sick and truckloads of food arrive late. That’s one of the latest outcomes of the omicron variant, which is straining the workforce. Investors are seeing the pressure and bracing for a longer period of high costs for labor, transportation and food. Shares of major …
Continue reading “Empty shelves in some U.S. grocers as supply chain woes continue”
WTI has surged into the mid-$82.00s and is trading at more than two-month highs as the dollar falls post-CPI. Oil prices saw a positive reaction to the latest weekly US EIA inventory report which showed an eighth successive draw. Oil prices hit more than two-month highs on Wednesday, buoyed as the US dollar weakened in …
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As the Omicron variant continues to sweep across the U.S., especially in the Northeast, unvaccinated people of all ages are at increased risk — including children. The U.S. is averaging 260 pediatric COVID-19 hospitalizations a day, up nearly 30% from last week. Health officials say pediatric hospitalizations in New York City rose nearly five-fold from …
Jan 12 (Reuters) – As oil prices have surged past $80 a barrel, U.S oil and gas producers are paving the way for faster production by expanding new well completions in the Permian Basin of west Texas and New Mexico, the country’s top shale oil field, according to research data. The number of pressure pumping …
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The U.S. Labor Department’s Consumer Price Index (CPI), the most widely used gauge for tracking inflation, rose to an annual clip of 7.0%, hitting predictions made by economists. This marks the highest increase since June 1982, beating last month’s 6.8%. The core CPI, which excludes more volatile energy and food prices, accelerated to 0.6% month-over-month, …
Continue reading “US inflation at 7.0% in December, 39-year high”
NEW YORK (Reuters) – U.S. retail investors have been dip-buyers so far in 2022, snapping up equities that funds have shed from their portfolios in light of a more hawkish Federal Reserve, but with a focus on quality stocks as opposed to speculative names. Growth and technology stocks, which typically generate lower returns in higher-interest …
Continue reading “Time to buy: Retail investors swoop in when stocks falter”
Jan 11 (Reuters) – U.S. stock indexes gained ground on Tuesday with Nasdaq leading the advance as investors were relieved that Federal Reserve Chair Jerome Powell’s testimony to Congress did not include any major surprises. Federal Reserve Chair Jerome Powell, in a congressional hearing that pointed to his likely confirmation for a second term in …
Continue reading “Wall Street closes higher after Powell testimony eases investors’ concerns”