Deutsche bank 60 wall street

- A + A BENGALURU (Dec 1): Wall Street was set to extend gains on Thursday after data showed a mild easing in inflation and solid consumer spending in October, adding to hopes of a likely downshift in the US Federal Reserve's (Fed) policy on aggressive rate hikes. A reading from the Commerce Department showed consumer spending, which accounts for more than two-thirds of US economic activity, rose 0.8% after an unrevised 0.6% increase in September. The core personal consumption expenditure (PCE) index, excluding volatile items, eased to 0.2%, against expectations of 0.3%. "People are feeling that the worst is behind us," said Sam Stovall, chief investment strategist at CFRA Research in New York. "Today's PCE was sort of a confirmation that indeed inflation is coming down and would offer credibility to the likelihood that the Fed will raise rates by 50 basis points in December and then probably end its rate tightening programme in the latter part of the first … [Read more...] about Wall Street set to extend gains on solid consumer spending data, easing prices

Representative Image: Shutterstock India's Gross Domestic Product (GDP) growth is expected to more than halve to 6.3 percent in the second quarter of 2022-23 from the first quarter, according to the median of estimates by 15 economists polled by Moneycontrol. The Indian economy had grown by 13.5 percent in April-June – the second-highest quarterly growth rate India has ever clocked, although comparable quarterly GDP data is available going back only until 2012 – thanks to a favourable base effect that faded in the July-September quarter. The statistics ministry is scheduled to release GDP data for July-September at 5:30 p.m. on November 30. At 6.3 percent, economists' prediction for last quarter's growth is on par with the Reserve Bank of India's (RBI) own forecast, although the central bank's staff have suggested there is a downside risk to that forecast. Writing in the monthly State of the Economy article , published on November 18, economists from the RBI said … [Read more...] about GDP growth may more than halve to 6.3% in July-September, finds poll

- A + A KUALA LUMPUR (Dec 1): Bursa Malaysia ended higher for the second consecutive day on Thursday (Dec 1), with the key index rising by 0.18% as continuous buying interest was seen in the heavyweight plantation counters. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 2.71 points to 1,491.51 from Wednesday's closing of 1,488.8. The market bellwether opened two points better at 1,490.8 and moved between 1,487.34 and 1,497.24 throughout the day. Market breadth was positive with gainers outnumbering losers 711 to 344, while 379 counters were unchanged, 799 untraded and 14 others suspended. Turnover decreased to 3.94 billion units worth RM3.07 billion versus 4.71 billion units worth RM4.41 billion on Wednesday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI ended marginally higher in tandem with the improving sentiment in global equities. He said the key regional indices were also in the green … [Read more...] about Bursa closes on positive note

- A + A LONDON (Dec 1): The bulls were enjoying the good life on Thursday after the world's most influential central banker, Jerome Powell, signalled this year's frantic pace of US interest rate hikes could be about to slow. It was a textbook "risk on" pattern, with both Europe's STOXX 600 and MSCI's main world stocks index hitting their highest since August and the previously unstoppable dollar huddled at a three-month low. Rallying bond markets sent borrowing costs lower almost everywhere too and although Wall Street looked set for a flat start later, higher oil and metals prices suggested even commodities markets now see hope for the spluttering world economy. "It absolutely makes sense," said Unigestion senior portfolio manager Olivier Marciot, saying it was a case of "it's not so bad any more, so it's good". "We have the confirmation that we are not having central banks being ever more hawkish and the confirmation that inflation is starting to slow." There … [Read more...] about Bulls on the charge after Fed signals smaller hikes

Share to Twitter Share to Linkedin Communities or businesses sometimes commission artists to create murals to spruce up boring walls. But when left to the elements, these artworks often fade or chip over time. A new study looked into the process of how murals degrade over time, and what they’ve found can help preserve public street art. A colorful freshly painted mural can drastically brighten the appearance of a street and make it a more welcoming place. That’s why shop owners might have their walls or shutters decorated, or why local community organizations commission artists to paint murals in public spaces. After a few years, though, the murals are no longer fresh and bright. The paint has chipped, the colors have faded, and the streetscape is starting to look a bit tired again. The usual way to fix urban art is to get the artists back in and have them fix the mural. But what if there’s no budget for that? Researchers at the University of Vigo in Spain … [Read more...] about Sea Salt And Unstable Paints Explain Why Murals Chip And Fade Away

Jerome Powell - A + A (Dec 1): A rally in US stocks and bonds powered ahead after a speech by Federal Reserve chairman Jerome Powell on Wednesday, but some investors believe a looming recession could cap gains in both asset classes. Though asset prices have been battered by the Fed’s rate rises this year, momentum has been on the side of the bulls in recent weeks. The S&P 500 has soared nearly 14% from its October low while yields on the 10-year benchmark Treasury, which move inversely to prices, are down at around 3.6%, from a 15-year high of 4.3% earlier this year. The immediate reaction to Powell’s speech on Wednesday showcased investors’ recently optimistic mood. The S&P 500 soared more than 3% after Powell said the Fed could scale back the pace of its rate increases as soon as December, although he warned there was little clarity on how high rates will ultimately need to rise as the central bank fights the worst outbreak of inflation in decades. … [Read more...] about Markets sigh with relief after Powell speech, but more turbulence likely ahead

Share to Twitter Share to Linkedin Flag of Israel with the Mediterranean sea in the background, in Rishon LeZion. עברית: דגל ישראל ... [+] בראשון לציון (Photo credit: Wikipedia) Israel ’s visiting guest this week is not a head-of-state. But he is just as important. It is Noble Energy ’s Chief Executive Charles Davidson, whose company is working with government and business there to commercialize huge natural gas deposits. The point of the Texas -based oil captain’s appearance is two-fold: He and his Israeli contemporaries will be celebrating the start of the country’s first natural gas discoveries that are in the Mediterranean Sea's Tamar field, which has just begun to generate 300 million cubic feet a day of natural gas. Noble says that the basin holds up to 10 trillion cubic feet. It’s a game-changer not just for Israel but potentially in the geo-political-and-economic chess game: It provides Israel with more energy security while … [Read more...] about Israel’s Natural Gas Finds Win the World’s Notice

Share to Twitter Share to Linkedin Topline Former FTX CEO Sam Bankman-Fried claimed in a live New York Times interview Wednesday the collapse of his cryptocurrency exchange was driven by numerous mistakes on his part rather than fraudulent activity, as FTX faces allegations it wrongly used billions of dollars in customer funds in a failed attempt to prop up its sister trading firm Alameda Research. Key Facts Bankman-Fried acknowledged “clearly I didn't do a good job” as head of FTX, saying there were immense accounting mistakes he should have caught, but he insisted he “didn’t ever try to commit fraud” and was “shocked” by the exchange’s collapse earlier this month. He also pushed back on concerns that FTX’s ties to Alameda Research were inappropriate, insisting he “wasn't running Alameda” and “didn't know exactly what was going on,” even though Bankman-Fried co-founded Alameda, had extensive ties to its leaders and said he worked as a consultant … [Read more...] about ‘I Didn’t Ever Try To Commit Fraud’: Sam Bankman-Fried Responds To FTX Collapse In New Interview

Share to Twitter Share to Linkedin The latest Wall Street Journal survey of economists shows that nearly two thirds of the participants foresee a U.S. recession in 2023. This indicates they are skeptical the Federal Reserve can raise interest rates to cool inflation without causing businesses to lay off workers. The silver lining is most forecasters envision a recession that is mild and short — lasting eight months versus the post-war average of just over ten months. But this begs the question of whether forecasters could be wrong as they were in 2008-09. They failed to anticipate the worst recession in post-war history then even though housing starts peaked in early 2006 and plummeted by nearly 80% over three years (see chart below). US Housing Starts, total units, 1959-2022 (Oct) In a typical recession, the sectors that are the most interest-rate sensitive – notably, housing and autos – lead the downturn, and weakness spreads to other sectors as … [Read more...] about Why A Housing Bust Will Not Generate A Severe Recession

Share to Twitter Share to Linkedin About 10 minutes into my interview with Israel’s special envoy for climate change and sustainability, the president of Andalusia — an autonomous region within Spain — walks in. Gideon Behar waves for me to come with him and President Juan Manuel Moreno Bonilla to another room. With security and photographers swarming, the three of us sit at a conference table. Israel is home to many creative technologies, including water, agriculture, and renewable energy. Not only is the Jewish state making itself more resilient to climate change, but it is also helping multiple nations do the same. “Israel’s biggest contribution to the climate crisis has been to solve it with innovative climate technologies,” Behar told this writer before Andalusia’s president introduced himself. “We have developed practical, affordable, and scaleable solutions — made stronger because we collaborate with others.” Our conversation occurred at the … [Read more...] about The World Wants Israel’s Energy And Environmental Innovations