Jobless growth upsc

- A + A NEW YORK/BENGALURU (May 16): Wall Street's main indexes fell on Monday, as downbeat data out of China added to worries about a global economic slowdown against the backdrop of aggressive policy tightening by the US Federal Reserve. Chinese and European stock markets fell, while oil slid as data showed China's economic activity cooled sharply in April as Covid-19 lockdowns took a heavy toll on consumption, industrial production and employment. Nine of the 11 major S&P sectors declined in morning trade. Technology and consumer discretionary stocks fell 1.6% and 1.8% respectively. Big growth companies such as Amazon.com, Alphabet Inc, Microsoft Corp, Apple Inc, Tesla Inc and Nvidia Corp slipped between 1.1% and 2.6%. Energy shares outperformed and were up 1.5%. Wall Street closed sharply higher on Friday, but still the S&P 500 and the Nasdaq indexes posted their longest weekly losing streaks in over a decade. "Investors are just a little bit … [Read more...] about Wall Street falls as growth stocks, glum China data weigh

- A + A (May 16): As spiraling inflation spreads across the globe, emerging-market bonds from Turkey to Thailand are feeling the brunt. Local-currency debt from developing nations -- which is far more sensitive to a country’s domestic inflationary pressures than dollar denominated equivalents — has slumped almost 9% this year, the most since at least 2008, according to a Bloomberg index. There’s unlikely to be any relief soon as central bankers around the world attempt to control surging prices by raising interest rates even more aggressively — potentially risking growth in doing so. That certainly wasn’t the plan. Many developing economies led the charge in rate hikes last year, getting ahead of policy makers in the US and hoping to avoid a redux of the 2013 taper tantrum. But with inflation raging in the US and the strong dollar pressuring currencies elsewhere, these countries are now making a new rulebook. Policy makers across emerging nations are either … [Read more...] about Bond traders reel as inflation hits world’s emerging local debt

Federal Reserve President Jerome Powell told Congress while the Fed still plans to hike interest rates to combat inflation, the economic impact from the invasion of Ukraine remains “highly uncertain,” and policymakers will need to be “nimble” in responding to new information. Key Takeaways Stocks are moving higher, gaining back ground lost yesterday, despite the Federal Reserve saying interest rates will move higher this month. ADP reported private-sector jobs jumped more than anticipated last month. Ford, Chevron, Hewlett-Packard Enterprises, and AutoZone are among companies gaining today. Solid economic and corporate news is edging stocks higher. All three major indices are up more than 1%, clawing back some of yesterday's losses. Almost all of the stocks in the Dow are rising. Shares of Chevron Corp. ( CVX ) and other energy companies are higher as the fighting in Ukraine increases concerns about disruptions in oil supplies. Oil futures reached the highest … [Read more...] about Market Wrap: Powell Sticks to Rate Hike, Ford Announces EV Move, AutoZone Soars

Stocks fell further this afternoon as the Fed's James Bullard said he'd like to see rates a full percentage point higher by July. Bullard backs at least a half-point hike on the way to a full point gain before July, the Federal Reserve Bank of St. Louis president told Bloomberg News in an interview today. Bullard votes on monetary policy. Key Takeaways Stocks fell further this afternoon as the Fed's James Bullard said he'd like to see rates a full percentage point higher by July. Stocks had been pulling back from the morning's steep declines as strong corporate earnings from Walt Disney and Mattel partially offset stronger-than-expected inflation data. The Consumer Price Index report released today revealed an annual inflation rate of 7.5%, higher than expected and the largest increase in 40 years. Bond yields rose to their highest since July 2019. Today's Market Movers Stocks had pulled back from the morning's steep declines, with some indexes moving … [Read more...] about Stocks’ Decline Steepens on Bullard’s Rate Hike Comments, Inflation Data

Stocks are falling after hiring in January blew past expectations, raising concerns that the Federal Reserve will lift interest rates aggressively to prevent the economy from overheating. The U.S. added 467,000 jobs last month, the Labor Department reported today. That crushed economists' expectations for 150,000 hires, driving stocks lower despite Amazon.com, Inc. ( AMZN ) gaining after a solid earnings report . Key Takeaways Stocks are falling for a second day after January hiring crushed expectations and raised concerns that the Federal Reserve will lift interest rates aggressively. Amazon is gaining around 10% and Snap more than 40% after reporting solid earnings growth. The yield on the 10-year Treasury note jumped past 1.9%, its highest in more than a year. Crude oil soared past $90 per barrel. The Dow Jones Industrial Average , S&P 500 , and Nasdaq indexes are all lower, following big declines in each yesterday. Crude oil soared past $90 per … [Read more...] about Stocks Drop as Blowout Jobs Report Increases Rate-Hike Jitters

In recent times, streaming services have flooded viewer TV screens with new programming to attract new subscribers. But those subscribers are not sticking around, according to a new study from Antenna, a market intelligence company. It found that viewers who join a service to watch a new show also leave within a few months, "significantly faster" than the average streaming customer. However, the firm's conclusions about customer habits might be good news for The Walt Disney Company ( DIS ), which has a deep reserve of hit content that will increase customer stickiness to Disney Plus, its streaming platform. Key Takeaways A study by market intelligence firm Antenna found that viewers who sign up for a service to watch a new show also leave much faster than the average streaming customers. The study's results mean that streaming services will have to spend more to ensure a steady stream of content to add new viewers for revenue growth. Disney Plus might be well positioned … [Read more...] about Why Disney Plus Holds an Edge Over Other Streamers

U.S. equity markets are continuing their rally as solid corporate earnings boost investor optimism. Chipotle Mexican Grill, Inc. ( CMG ) and Yum! Brands, Inc. ( YUM ) gained, as the Dow and Nasdaq are both up about 200 points. Key Takeaways U.S. stocks are higher, with the Nasdaq and S&P 500 each gaining more than 1% as solid corporate earnings boost investors' confidence. Investors are awaiting an earnings report from The Walt Disney Company ( DIS ). Crude oil reversed its earlier decline and is back above $90 per barrel. Bond yields declined. Better-than-expected financial reports from restaurant chains Chipotle and Yum!, along with food sciences firm FMC Corporation ( FMC ), are sending their shares higher. Shares are rising for media companies after Omnicom Group Inc. ( OMC ) reported profit that beat forecasts, and its shares are trading near all-time highs. Tech stocks are powering the Nasdaq's 1.5% gain. Meta Platforms, Inc. ( FB) shares … [Read more...] about U.S. Stock Surge Continues as Chipotle, Tech Shares Drive Gain

Russia continues its military buildup at the Ukrainian border, NATO said , disputing Russia's claims that it's removing troops. The rally in U.S. stocks stopped, with major indexes slipping after yesterday's surges. Economists will be mining the minutes from the January FOMC meeting—due later today from the Fed—for clues as to how aggressive the central bank will act in its efforts to curb inflation. Key Takeaways Russia continues adding troops at the border, NATO said, disputing Russia's claims that it is removing troops. The rally in U.S. stocks halted, while oil climbed. Stock declines came despite stronger-than-expected January retail sales. Stocks surged yesterday, snapping a three-day losing streak, on indications tensions between Russia and Ukraine were easing. The Dow rose 1.2%, while the S&P 500 gained 1.6%, and the Nasdaq shot up 2.5%. Later today, the Federal Reserve will release minutes from its January policy meeting . Investors will look for … [Read more...] about NATO Disputes Russian Withdrawals, an Alarming Yield Curve, and More Moving Today’s Market

Stocks swooned as monetary policy , geopolitics, and corporate earnings stoked fears, again rattling investors, who scurried for safer investments. Key Takeaways Stocks fall again as monetary policy, geopolitics, and corporate earnings stoked fears Rattled investors scurried for safer investments, pushing bond and gold prices higher. The VIX, the so-called "fear index," climbed higher, continuing a steep ascent that began with the new year. The Nasdaq is down more than 300 points, while the Dow Jones Industrial Average (DJIA) is close to 300 points lower. The CBOE Volatility Index (VIX)—the so-called "fear index"—climbed higher, continuing a steep ascent that began with the new year. Concerns that sent major averages lower yesterday—before markets reversed and roared back to finish the day higher—are back today: rising interest rates as the Fed begins its two-day meeting, and the possibility of a Russian invasion of Ukraine. Investors are also weighing a … [Read more...] about Stocks’ Rout Continues as Rates and Russia Rattle Investors

U.S. equity markets are sinking as Russia escalates attacks on Ukraine, raising concerns about disruptions of oil and other commodities. The Dow at one point was down more than 600 points, while crude oil approached $107 a barrel. Key Takeaways The Dow Jones fell more than 600 points as crude oil surged past $105 a barrel and financial and travel company shares slumped. Wheat and corn futures traded limit up as both Russia and Ukraine are major exporters, with wheat hitting prices not seen since 2008. Retailers including Target and Walmart are trading higher. Oil prices are soaring to more than $105 a barrel, the highest they’ve been since 2014. Wheat and corn futures traded limit up as both Russia and Ukraine are major exporters. Wheat prices are at levels not seen since 2008. Investors continued to put money into haven investments. Bond prices are rising with the yield on the 10-year Treasury note falling another 11 basis points (BPS) to 1.72%. Gold and … [Read more...] about Stocks’ Rout Deepens as Oil Soars and Russian Invasion Raises Recovery Worries