Us economic index

(File image) Narendra Modi bows down in respect at the steps of the Parliament house upon his arrival to attend the BJP parliamentary party meeting in New Delhi on May 20, 2014. Modi fought back tears in an emotional first address to his party in India's Parliament house. REUTERS/Adnan Abidi (INDIA - Tags: POLITICS ELECTIONS) - GM1EA5K1GOD01 Eight years ago, on May 26, 2014, Narendra Modi was sworn-in as India’s Prime Minister after the Bharatiya Janata Party (BJP) won a landslide victory in the general elections. A few days prior to this, Modi, as Prime Minister-designate, went to Parliament and entered the Central Hall for the first time. In a now popular photograph, Modi is seen bowing and touching the stairs with his forehead leading to the Parliament building as a mark of respect to the “ temple of democracy ”. Modi’s ascension was an apt example of the power of a democracy. For his journey from Vadnagar, in current day Gujarat, to 7, Lok Kalyan Marg, in New Delhi, is proof … [Read more...] about Modi Govt @ 8 | Indian democracy needs a recast to boost economic reforms

The trend of Malaysia’s economic recovery is in a better direction, according to the chief statistician. (Photo by Low Yen Yeing/The Edge) - A + A KUALA LUMPUR (June 23): Malaysia’s economic recovery is in a better direction as the performance of the Leading Index (LI) for April 2022 eased to a better negative of 0.5% from a negative 1.4% in March 2022, said the Department of Statistics Malaysia (DOSM). The LI is a predictive tool used to anticipate economic upturns and downturns in an average of four to six months ahead. In a statement, the DOSM said the decrease in the LI was influenced mainly by a drop in the number of housing units approved caused by a decline in applications from developers during the said month. Based on a month-on-month comparison, LI slipped to a negative 0.5%, dragged by the number of housing units approved (-1.4%), the number of new companies registered (-0.5%), and the Bursa Malaysia Industrial Index (-0.3%). "Despite the … [Read more...] about DOSM: Leading Index signifies better economic recovery ahead

BERLIN (Reuters) - Germany triggered the "alarm stage" of its emergency gas plan on Thursday in response to falling Russian supplies but stopped short of allowing utilities to pass on soaring energy costs to customers in Europe's largest economy. The measure is the latest escalation in a standoff between Europe and Moscow since the Russian invasion of Ukraine that has exposed the bloc's dependence on Russian gas supplies and sparked a frantic search for alternative energy sources. The decision, announced by the economy minister, marks a stark shift especially for Germany, which has cultivated strong energy ties with Moscow stretching back to the Cold War. Lower gas flows sparked warnings this week that Germany could fall into recession if Russia supplies halted altogether. S&P Global's flash Purchasing Managers' Index (PMI) on Thursday showed the economy losing momentum in the second quarter. "We must not fool ourselves: The cut in gas supplies is an economic attack on … [Read more...] about Germany triggers gas alarm stage, accuses Russia of ‘economic attack’

- A + A (June 22): US futures dropped with stocks and commodities amid ever-louder warnings that Federal Reserve rate hikes may lead to an economic downturn. Nasdaq 100 contracts were down more than 1.5%, underperforming S&P 500 peers and indicating more declines for heavyweight technology stocks, which have been hammered by rising rates. Haven assets including the dollar, Treasuries and the yen advanced. The S&P 500 is now poised for its worst first half since Richard Nixon’s presidency. With just seven trading days left until the end of June, the index is down 21% since the beginning of the year, a scale unmatched by any start to a year going back to 1970, according to data compiled by Bloomberg. Optimism is evaporating that policy makers can achieve a soft landing as they navigate a course of aggressive monetary tightening to tame inflation. Fed Chair Jerome Powell is expected to reiterate his resolve when he speaks in front of lawmakers Wednesday. Fears … [Read more...] about US futures fall with oil as recession fear spreads: Markets Wrap

Any assessment of a government's performance invariably ends up at the economic door. At the start of Narendra Modi's ninth year as prime minister (PM), it is then pertinent to ask: how has the Indian economy fared so far? Making any straight comparisons between now and May 2014 would be unfair given the impact of the coronavirus pandemic. And even before the pandemic's end, Russia’s invasion of Ukraine upended all calculations again. "No one country today can plan for its recovery...because of these kinds of disturbances. Our recovery, not just of India, but for countries everywhere, will be severely hampered," Finance Minister Nirmala Sitharaman had noted in late February a day after Russia attacked Ukraine. But it must not be forgotten that India has attempted to kick-start its economic recovery multiple times in the last eight years. The first of these was soon after Modi took charge as PM in May 2014. Working in tandem with Raghuram Rajan at the Reserve Bank of … [Read more...] about Modi govt @ 8 | Pandemic hides economy’s past troubles as restart button hit again

Share to Twitter Share to Linkedin Shares of Tesla soared 9%, outpacing the tech-heavy Nasdaq’s 2.5% rebound. The fortune of the world’s richest person, Tesla chief Elon Musk, soared by $14.5 billion Tuesday, as shares of his electric vehicle maker rose 9.4%, outpacing the tech heavy Nasdaq’s 2.5% rebound from last week’s decline. Analysts attributed Tesla’s outperformance to both comments by Musk and broader market factors. Referring to an interview Musk granted to Bloomberg at the Qatar Economic Forum Tuesday in which the Tesla chief highlighted the size of the company’s order backlog, Wedbush analyst Dan Ives said that “positive demand comments from Musk have resonated with the Street and given some confidence in this white knuckle macro environment.” In the interview, Musk reiterated his concerns about a recession and the need to downsize Tesla’s workforce, but investors appear to have zeroed in on his comments downplaying the threat of … [Read more...] about Why Elon Musk Is Nearly $15 Billion Richer Tuesday

Share to Twitter Share to Linkedin The coronavirus pandemic, war in Ukraine, runaway inflation and climate change are fueling a global food security crisis. The numbers tell an alarming story. The Food and Agriculture Organization of the United Nations and World Food Programme estimate that 49 million people are facing starvation. The Consumer Price Index is recording the greatest increase in U.S. food prices since 1979; the cost of sunflower and palm oil has doubled ; and wheat and maize cost twice as much as they did a few months ago. Against this backdrop, the World Bank projects that global supplies of wheat will decline in 2022-23, and in the United States, winter wheat production is down by 8 percent . And to top it off, over 20 million tons of grain are trapped in Ukraine’s silos. “If you think we’ve got hell on earth now, you just get ready,” the executive director of the World Food Programme David Beasley warned recently. … [Read more...] about Covid, Conflict And Climate Are Fueling A Global Food Crisis – Leaders Must Act Fast

U.S. stocks were little changed ahead of another big day for earnings and economic news, while Peloton Interactive Inc. ( PTON ) shares are up more than 10% after the company announced job cuts and the departure of the CEO. The company also announced its new CEO: Silicon Valley veteran Barry McCarthy. Key Takeaways Stocks are little changed ahead of earnings and economic news; Pfizer fell after reporting revenue that missed estimates. Peloton shares advance after the company announced 2,300 job cuts and the departure of CEO and co-founder John Foley. Crude oil's rally halted with the price falling to less than $90 a barrel for the first time since last week. Among the companies reporting earnings today are BP Plc, Chipotle Mexican Grill Inc., DuPont de Nemours Inc. ( DD ), KKR & Co. Inc. ( KKR ), and Lyft Inc. ( LYFT ). The yield on the 10-year Treasury note this morning crossed 1.96%, the highest level since 2019. Oil prices backed off seven-year highs, … [Read more...] about Peloton Jumps on CEO Departure, Job Cuts, Barry McCarthy to Take Top Spot

Small business owners' expectations for the future fell to a 48-year low as owners report inflation continues to be their number one business problem, according to a survey by National Federation of Independent Business (NFIB). The NFIB's Optimism Index fell 0.1 points in May to a reading of 93.1, marking the fifth straight month below the 48-year average of 98. Owners expecting better business conditions over the next six months declined four points to a net negative 54%, the lowest level recorded in the survey's 48-year history. Expectations for better business conditions have deteriorated every month since January. Twenty-eight percent of owners reported inflation was their most important business problem, a decrease of four points from April. The share of owners raising prices increased two points to 72%, matching the number reached in March, and the highest reading on record. Amid a tight labor market , 51% of owners reported job openings they could not fill in May. … [Read more...] about Small Business Owner Expectations at Record Low

Despite an expected summer travel boom and higher airfares, airline stocks have tumbled amid concerns about a possible economic slowdown. Shares of American Airlines ( AAL ) dropped 8.6% yesterday, while Southwest Airlines ( LUV ) shares tumbled 6%. Delta Air Lines ( DAL ) and United Airlines ( UAL ) shares shed more than 7%. The NYSE Arca Airline Index ( XAL ), which tracks 18 carriers, lost more than 8%. Strong travel demand following more than two years of the pandemic has led to a boom, with Delta, United, and American all forecasting a return to profitability. However, the industry has also faced disruptions leading to cuts in summer flying plans. Meanwhile, Transportation Secretary Pete Buttigieg met virtually with CEOs and other senior leaders of the major U.S. airlines. He pressed airlines to detail steps they’re taking heading into the July 4th holiday and the rest of the summer, and asked them to stress-test their schedules for the coming months to ensure they … [Read more...] about Airline Stocks Hit Turbulence