Surprise jobs report pummels Fed rate-cut bets
A surprisingly strong May jobs report added to market concerns that inflation pressures in the world's biggest economy remain elevated.
A surprisingly strong May jobs report added to market concerns that inflation pressures in the world's biggest economy remain elevated.
Wall Street now has three tech giants valued at $3 trillion. Collectively, they comprise 20% of the S&P 500.
The U.S. dollar steadied in early European trade Thursday, while the euro gained ahead of the latest policy-setting meeting by the European Central Bank. In Asia, USD/JPY traded 0.1% higher to 156.31, but remained well below recent peaks.
-- Australia’s trade balance grew more than expected in April, as a drop in key commodity exports was offset by an even bigger decline in imports as local demand...
The odds of an autumn Fed rate cut are changing following the latest jobs data.
-- China’s services sector grew at a steady pace in April as expected, a private survey showed on Monday, as new business activity grew and as export demand also...
The U.S. manufacturing activity barometer contracted more than expected in May, leading to a sharp retreat in Treasury yields at the start of the week. After falling back into contraction in April, manufacturing activity continued to decline for the second consecutive month, according to the Institute for Supply Management (ISM) survey. Yields on the benchmark 10-year Treasury bond fell by nine basis points to 4.41%, marking the third straight day of declines. Longer-dated yields also saw simila
-- Australia’s economy grew as expected in the fourth quarter, aided chiefly by strong government and business spending and steady exports, which helped offset a...
-- Australian retail sales rose slightly in the fourth quarter of 2023, aided by increased discounts during the holiday season, although overall retail turnover during...
-- Chinese manufacturing activity unexpectedly contracted in May, purchasing managers index data showed on Friday, as an initial boost from bumper stimulus measures by...