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This backdrop has supported euro zone bond markets in recent days, allowing yields to fall further. Its 10-year bond yield touched 0.74% , its lowest level in almost eight weeks, before steadying around 0.75%. Most 10-year bond yields in the euro area were steady with Tuesday’s two-day meeting of the U.S. Federal Reserve providing another reason for subdued trading across markets. Germany’s benchmark 10-year bond yield was flat on the day at -0.27%. “The key point is that new EU bonds will provide investors with a liquid alternative,” said Lidia Treiber, director, research at WisdomTree Asset Management.
Persons: Christine Lagarde, , Antoine Bouvet, Lidia Treiber Organizations: European Central Bank, Politico, ECB, ING, U.S . Federal Reserve, European Union, EU, WisdomTree Asset Management Locations: Italy
This backdrop has supported euro zone bond markets in recent days, allowing yields to fall further. Its 10-year bond yield touched 0.74% on Monday , its lowest level in almost eight weeks, before recovering some ground. Most 10-year bond yields in the euro area edged up just slightly with Tuesday’s two-day meeting of the U.S. Federal Reserve providing another reason for subdued trading across markets. Germany’s benchmark 10-year bond yield was up 1.4 bps on the day at -0.254%. Greece’s 5-year bond yield fell below zero to -0.012% at one point - its lowest since Nov. 13.
Persons: Christine Lagarde, , , Antoine Bouvet, Greece’s, Lidia Treiber Organizations: LONDON, ECB, European Central Bank, Politico, ING, U.S . Federal Reserve, European Union, WisdomTree Asset Management, EU Locations: Italy
Dovish ECB keeps Italy bond yields at lowest in almost 8 weeks
  + stars: | 2021-06-14 | by ( Dhara Ranasinghe | ) www.reuters.com + 0.00   time to read: +2 min
This backdrop has supported euro zone bond markets in recent days, allowing yields to fall further. Its 10-year bond yield touched 0.74% in early Monday trade , its lowest level in almost eight weeks. The closely-watched gap between Italian and German 10-year bond yields was at 102 basis points on Monday. Most 10-year bond yields were steady but holding near recent lows -- Germany’s benchmark 10-year bond yield was at -0.28%, about 1 bps off multi-week lows hit on Friday. Most analysts expect the EU to kick off with a 10-year bond with a volume in the region of 11 billion euros.
Persons: Christine Lagarde, Rainer Guntermann, “ BTPs, , Dhara Ranasinghe, Emelia Sithole Organizations: European Central Bank, Politico, ECB, Bank of Italy, European Union, EU Locations: Italy, 90bp
(Reuters) -European shares hit a record high on Monday as investors bet on global central banks sticking to an accommodative stance on monetary policy even as the post-pandemic economic recovery gathers pace. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 11, 2021. REUTERS/StaffThe pan-European STOXX 600 was up 0.3% after ending Friday with its fourth consecutive weekly gain. “If central banks start to lay out a path that involves a withdrawal of stimulus, markets could get spooked. British outsourcer Serco Group jumped 3.8% after raising its 2021 profit outlook on expectations of stronger demand for its COVID-19 services.
Persons: Germany’s DAX, , Michael Hewson, Christine Lagarde Organizations: Reuters, REUTERS, Staff, European Central Bank, U.S, , CMC, Serco, Philips Locations: Frankfurt, Germany, U.S . Federal
Euro zone at a turning point but too early to debate end of ECB help: Lagarde
  + stars: | 2021-06-14 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
The euro zone economy is at a turning point but its recovery must be firm and sustainable before the European Central Bank can debate clawing back emergency support, ECB President Christine Lagarde told Politico in an interview. "I am not suggesting that the pandemic emergency purchase programme (PEPP) is going to stop on 31 March," Lagarde was quoted on Monday as saying. "We have plenty of flexibility, but in terms of economic outlook we are heading in the right direction. Economists expect the ECB to start discussing the end of PEPP at their September meeting and the vast majority of ECB watchers polled by Reuters do not expect PEPP to be enlarged and extended again. "We are at a turning point where, bearing in mind alternative (virus) variants, we are on that recovery path, heading firmly towards a return to the pre-COVID-19 level," Lagarde added.
Persons: Christine Lagarde, Lagarde Organizations: European Central Bank, Politico, ECB, Reuters, Thomson Locations: PEPP
ECB maintains elevated pace of bond purchases
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +2 min
FILE PHOTO: The logo of the European Central Bank (ECB) is pictured outside its headquarters in Frankfurt, Germany, December 8, 2016. “The Governing Council expects net purchases under the PEPP over the coming quarter to continue to be conducted at a significantly higher pace than during the first months of the year,” the ECB said in a statement. The ECB has bought around 80 billion euros worth of debt per month under its Pandemic Emergency Purchase Programme this quarter, up from levels early this year but below their peak at the start of the crisis. Maintaining its long-standing guidance, the ECB said that its 1.85 trillion Pandemic Emergency Purchase Programme (PEPP) would last until March 2022 and it reserved the right to buy less than this quota or increase it as needed to “maintain favourable financing conditions”. Attention now turns to ECB chief Christine Lagarde’s 1230 GMT news conference, during which she will also unveil fresh economic projections.
Persons: Ralph Orlowski FRANKFURT, Christine Lagarde’s Organizations: European Central Bank, REUTERS, ECB Locations: Frankfurt, Germany
S&P 500 brushes off rising inflation to hit record high
  + stars: | 2021-06-10 | by ( Ambar Warrick | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Mike Segar/File PhotoU.S. stocks rose on Thursday and the S&P 500 hit a record intraday high as investors juggled signs of a swift economic recovery with concerns over the Federal Reserve tapering its massive monetary stimulus. The S&P 500 (.SPX) hit a record high of 4,249.74. ET, the Dow Jones Industrial Average (.DJI) was up 123.39 points, or 0.36%, at 34,570.53 and the S&P 500 (.SPX) was up 18.18 points, or 0.43%, at 4,237.73. read moreAdvancing issues outnumbered decliners by a 2.55-to-1 ratio on the NYSE and a 2.17-to-1 ratio on the Nasdaq. The S&P index recorded 48 new 52-week highs and no new lows, while the Nasdaq recorded 72 new highs and nine new lows.
Persons: Mike Segar, Mark Grant, Christine Lagarde Organizations: New York Stock Exchange, REUTERS, Labor Department, CPI, Riley, Dow Jones, Nasdaq, European Central Bank, Clover Health, AMC, GameStop Corp, SEC, Boeing, Reuters United Airlines, Airbus, NYSE, Thomson Locations: Manhattan, New York City , New York, U.S
ECB Set to Fall Behind Fed in Phasing Out Stimulus
  + stars: | 2021-06-10 | by ( Tom Fairless | ) www.wsj.com sentiment -0.99   time to read: +1 min
FRANKFURT—The European Central Bank said it would keep its aggressive monetary stimulus in place despite mounting evidence of a vigorous economic recovery and rising inflation in the eurozone as the Covid-19 pandemic recedes. The ECB’s move suggests it will lag behind the Federal Reserve in phasing out the extraordinary stimulus policies it rolled out last year. ECB President Christine Lagarde faces a tricky task at Thursday’s news conference, starting at 8:30 a.m. ET, to explain why the eurozone still needs such aggressive monetary stimulus when economic activity is accelerating and its inflation rate has risen above the ECB’s target of just below 2%. She is expected to stress Europe’s incomplete path to economic recovery, even as she unveils more upbeat forecasts for eurozone growth and inflation.
Persons: Christine Lagarde Organizations: FRANKFURT, European Central Bank, Federal Reserve, ECB Locations: U.S
Auto, travel firms weigh on European shares ahead of ECB meeting
  + stars: | 2021-06-10 | by ( Sruthi Shankar | ) www.reuters.com + 0.00   time to read: +2 min
(Reuters) -European stocks slipped on Thursday as automakers and travel stocks fell after a recent run of gains, while investors counted on the European Central Bank to maintain an accommodative policy stance at a meeting later in the day. Automakers fell for the third straight day, while travel and leisure stocks dropped 1.1% following recent gains for the sectors on optimism about economic re-openings. Euro zone stocks fell 0.2% ahead of the ECB’s policy decision and its projections for euro zone economic growth and inflation. The meeting comes as recent data from across the globe point to building inflationary pressures, particularly in commodities, as economies recover from long COVID-19 lockdowns. Euro zone inflation last month exceeded the central bank’s target of just under 2%, a mark it has undershot for most of the last decade.
Persons: Christine Lagarde’s, pare Organizations: Reuters, European Central Bank, REUTERS, Staff, Volkswagen, RBC Capital Markets, BT Group, Altice, Spotify, Apple Music Locations: Frankfurt, Germany
(Reuters) -European stocks inched to fresh peaks on Thursday as the European Central Bank raised its recovery outlook and promised to keep ample stimulus flowing, while travel stocks fell after a recent run of gains. REUTERS/StaffThe pan-European STOXX 600 index was up just 0.1%, but at a fresh record high of 455.76 points, while the narrower index of euro zone stocks fell 0.1%. The central bank now sees 2021 euro zone economic growth at 4.6%, above the 4% projected in March. “The ECB’s main mission today was to avoid any taper talk and not harm the still tentative economic recovery or allow bond yields to surge prematurely,” said Carsten Brzeski, global head of macro at ING. “It accomplished its mission: the ECB seems to have bought some time without starting the taper talk.”Interest rate-sensitive banking stocks rose 0.4%, while tech stocks rose 0.9%.
Persons: Christine Lagarde, , Carsten Brzeski, pare Organizations: Reuters, European Central Bank, REUTERS, Staff, ECB, ING, Federal Reserve, Volkswagen, BT Group, Altice, Spotify, Apple Music Locations: Frankfurt, Germany
Investors can't address the climate emergency on their own, but governments can't reach climate solutions without investors." "Investors can't address the climate emergency on their own, but governments can't reach climate solutions without investors." 'Our house is burning'The debate over how to respond to the climate crisis comes amid rising awareness from the public, business leaders and regulators about the consequences of climate change. Tobias Adrian, director of the IMF's monetary and capital markets department, told CNN Business the climate crisis could "absolutely" ignite a financial crisis. "Investors know that the impacts of the climate crisis are systemic financial risks," Lubber said in a statement, "and will worsen, if left unchecked."
Persons: Thomas DiNapoli, DiNapoli, Joe Biden, Biden, Apple, Gary Gensler, Jerome Powell, Christine Lagarde, Lagarde, Tobias Adrian, Mindy Lubber, Lubber Organizations: CNN Business, Investors, Fidelity, State, York, Allianz Global Investors, California, NDC, Securities and Exchange Commission, SEC, US Chamber of Commerce, Federal, Central Bank, Green Swan Conference Locations: York, United Kingdom, United States
ECB leaves rates and bond buying unchanged despite inflation uptick
  + stars: | 2021-06-10 | by ( Silvia Amaro | ) www.cnbc.com sentiment -0.97   time to read: +1 min
European Central Bank (ECB) President Christine Lagarde gestures as she addresses a news conference on the outcome of the meeting of the Governing Council, in Frankfurt, Germany, March 12, 2020. The European Central Bank decided Thursday to keep interest rates unchanged as market players look for clues on whether the central bank will soon lift its massive pandemic-era stimulus. The ECB had previously said it was expecting prices to pick up in 2021, but only temporarily. Market players therefore want answers on how long the central bank will keep up its vast monetary stimulus. ECB President Christine Lagarde is due to speak at 1.30 p.m. UK time.
Persons: Christine Lagarde Organizations: European Central Bank, Governing, ECB, U.S Locations: Frankfurt, Germany
Consumer prices keep on rising. Where does it end?
  + stars: | 2021-06-10 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com + 0.00   time to read: +6 min
You can sign up right hereLondon (CNN Business) From lumber and steel to paint and burrito bowls at Chipotle, prices are rising almost everywhere you look . What's happening: Wall Street is training its attention on the Consumer Price Index for May, which arrives on Thursday. The report is expected to show that prices excluding food and energy continued to notch strong gains last month, rising 3.4% over the previous year. Including food and energy, economists believe consumer prices leaped 4.7% in the past 12 months. The European Central Bank, which met Thursday in Frankfurt, did not change its policy, issuing a statement that was essentially unchanged from its decision in April.
Persons: Kit Juckes, Yi Gang, Christine Lagarde, Andy Haldane, Wendy's WEN, Maneesh Deshpande, Deshpande, There's, , cyberattacks, Andre Nogueira, Jennifer Granholm, Jake Tapper, Dave Organizations: CNN Business, Bell, CNN, Consumer, Index, Traders, Federal, Generale, People's Bank of, European Central Bank, ECB, ING, Bank of England, New Statesman, Energy Fuels, Clover Health, Barclays, GameStop, Securities and Exchange Commission, Colonial Pipeline, US Justice Department Locations: London, China's, Shanghai, People's Bank of China, Frankfurt, Cornwall, England
Even as Europe’s economic outlook is rapidly improving, European Central Bank policymakers decided on Thursday to maintain their “very accommodative” monetary stance. Governments are lifting lockdown restrictions and the vaccine rollout has sped up, which has led to a bounce in the services industry and “ongoing dynamism” in manufacturing, Christine Lagarde, president of the central bank, told reporters at a news conference in Frankfurt. “We expect economic activity to accelerate in the second half of this year as further containment measures are lifted,” she said. But Ms. Lagarde stressed thatlots of support was still needed and that policymakers were giving the economy a “steady hand.”
Persons: Christine Lagarde, , Lagarde Organizations: European Central Bank Locations: Frankfurt,
REUTERS/Ralph OrlowskiJust emerging from a pandemic-induced double-dip recession, the 19-country euro zone economy has relied on unprecedented ECB stimulus to stay afloat. Panetta flatly rejected any reduction in emergency bond buys while Lagarde said it was “far too early” to discuss tapering the bank’s 1.85 trillion euro Pandemic Emergency Purchases Programme (PEPP). Underlying price pressures, a key focus for the ECB, remain anaemic and wage growth is weak, pointing to excessively low inflation for years to come. That will put pressure on policymakers to start plotting a course beyond the emergency bond buys. The ECB will announce its policy decision at 1145 GMT, followed by Lagarde’s news conference at 1230 GMT.
Persons: Ralph Orlowski, Christine Lagarde, Fabio Panetta, Panetta, Lagarde, , Holger Schmieding, ” Anatoli Annenkov Organizations: European Central Bank, REUTERS, ECB, Federal Reserve, Societe Generale, Reuters Locations: FRANKFURT, Frankfurt, Germany, Europe, United States, U.S
(Adds dropped word in first paragraph)FILE PHOTO: The European Central Bank (ECB) logo in Frankfurt, Germany, January 23, 2020. The ECB has bought around 80 billion euros worth of debt per month under Pandemic Emergency Purchase Programme (PEPP) this quarter, up from around 62 billion euros in the first quarter. INFLATIONWeak medium-term inflation prospects are the key rationale for maintaining copious support. Underlying price pressures, a key focus for the ECB, remain anaemic and wage growth is weak, pointing to excessively low inflation for years to come. That will put pressure on policymakers to start plotting a course beyond the emergency bond buys.
Persons: Ralph Orlowski FRANKFURT, Christine Lagarde, PEPP Organizations: European Central Bank, REUTERS, , ECB, U.S . Federal, Fed, Reuters Locations: Frankfurt, Germany, Europe, United States
FILE PHOTO: The European Central Bank (ECB) logo in Frankfurt, Germany, January 23, 2020. “The conclusion that we reached (on policy approach), I would say ‘steady hand’”The 19-country euro zone has relied on copious ECB money printing to finance ballooning government deficits, leaving the economy especially vulnerable to any curbing of stimulus. Inflation is now seen running at 1.9% this year and 1.5% next, up from earlier forecasts of 1.5% and 1.2% respectively. The ECB also nudged up its guidance on growth, declaring risks “broadly balanced” rather than tilted to the downside. Data released Thursday showed the number of Americans filing new claims for unemployment benefits fell last week to the lowest level in nearly 15 months, while consumer prices increased further in May as domestic demand rose.
Persons: Ralph Orlowski, Christine Lagarde, , Lagarde, PEPP Organizations: European Central Bank, REUTERS, ECB, U.S . Federal Locations: FRANKFURT, Frankfurt, Germany, Europe, United States
FRANKFURT (Reuters) -The European Central Bank raised its growth and inflation projections on Thursday but pledged a steady flow of stimulus over the summer, fearing that a retreat now would accelerate a concerning rise in borrowing costs and choke off the recovery. FILE PHOTO: The European Central Bank (ECB) logo in Frankfurt, Germany, January 23, 2020. Lagarde acknowledged some debate around the decision but said there was broad majority support for “significantly higher” bond buys. The 19-country euro zone has relied on copious ECB money printing to finance ballooning government deficits, leaving it especially vulnerable to any curbing of stimulus. BETTER OUTLOOKWith economies reopening as COVID-19 lockdowns are lifted and vaccinations pick up pace, the ECB raised most of its growth and inflation projections and declared risks to the outlook balanced, giving up long-standing guidance for downside risks.
Persons: Ralph Orlowski, Christine Lagarde, Lagarde, ” Morgan Stanley, , PEPP, ” Lagarde Organizations: European Central Bank, REUTERS, ECB, Governing, U.S . Federal, Fed Locations: FRANKFURT, Frankfurt, Germany, Europe, United States
LONDON (Reuters) - For Bank of England chief Andrew Bailey, tackling climate change carries inflation risks if you do too little, too late. Set against that, however, is both the possibility that climate change policy could actually lower prices for certain goods and services and the risk that doing nothing at all could spur other inflationary pressures tied to faster climate change. Vulnerable developing economies have for years felt the impact of climate change on their farming and other sectors. Now, rich economies are starting to see price challenges linked to weather events and climate change policy, according to Katharine Neiss, chief European economist at PGIM Fixed Income. Ultimately, the climate challenge implies massive changes for the global economy either way - and rising inflation may be the least of our worries.
Persons: Andrew Bailey, Larry Fink, Mike Hutchings, Bailey, , Fink, Silvia Dall’Angelo, Christine Lagarde, Jerome Powell, Katharine Neiss, Wei Li, Jean Pisani, Nicholas Stern Organizations: Bank of England, REUTERS, Glasgow, United Nations, Reuters, Financial, Federated Hermes, Central Bank, OUR, Federal Reserve, Global Chief Investment, BlackRock Investment Locations: BlackRock, South Africa, Europe, Federated, French
REUTERS/Mike Hutchings/File PhotoFor Bank of England chief Andrew Bailey, tackling climate change carries inflation risks if you do too little, too late. Set against that, however, is both the possibility that climate change policy could actually lower prices for certain goods and services and the risk that doing nothing at all could spur other inflationary pressures tied to faster climate change. Vulnerable developing economies have for years felt the impact of climate change on their farming and other sectors. Now, rich economies are starting to see price challenges linked to weather events and climate change policy, according to Katharine Neiss, chief European economist at PGIM Fixed Income. Ultimately, the climate challenge implies massive changes for the global economy either way - and rising inflation may be the least of our worries.
Persons: Mike Hutchings, Andrew Bailey, Larry Fink, Bailey, Fink, Silvia Dall'Angelo, Christine Lagarde, Jerome Powell, Katharine Neiss, Wei Li, Jean Pisani, Nicholas Stern Organizations: REUTERS, Bank of England, BlackRock, Glasgow, United Nations, Reuters, Financial, Federated Hermes, Central Bank, OUR, Federal Reserve, Global Chief Investment, BlackRock Investment, Thomson Locations: South Africa, Europe, Federated, French
FILE PHOTO: The European Central Bank (ECB) logo in Frankfurt, Germany, January 23, 2020. Will the ECB slow the emergency bond buying pace? Graphic: ECB PEPP Plan:3. While the ECB is likely to revise up near-term inflation forecasts, its long-term estimates should show price pressures remain subdued. Dovish ECB talk has pushed bond yields down from May’s multi-month highs, reassuring the central bank.
Persons: Ralph Orlowski, Fabio Panetta, Luigi Speranza, Christine Lagarde, Klaas, Lagarde, Francois Villeroy de Galhau, , Sébastien Galy, Joe Biden’s Organizations: European Central Bank, REUTERS, ECB, BNP Paribas, APP, Nordea Asset Management Locations: Frankfurt, Germany, Dutch, Central
Will the ECB slow the emergency bond buying pace? BNP Paribas chief global economist Luigi Speranza said he expected a "dovish tapering" that could pave the way for a moderate slowdown in the pace of bond buying. The PEPP will run until end-March and the ECB has said it doesn't need to use the full 1.85 trillion euro "envelope." French central bank governor Francois Villeroy de Galhau reckons the ECB could introduce more flexibility into the APP. While the ECB is likely to revise up near-term inflation forecasts, its long-term estimates should show price pressures remain subdued.
Persons: Fabio Panetta, Luigi Speranza, Christine Lagarde, Klaas, Lagarde, Francois Villeroy de Galhau, Sébastien Galy, Joe Biden's Organizations: European Central Bank, ECB, BNP Paribas, APP, Asset Management, Thomson Locations: Dutch, Central
Ride a Green Swan: central banks grapple with climate risk
  + stars: | 2021-06-04 | by ( Mark John | ) www.reuters.com + 0.00   time to read: +6 min
REUTERS/Mike Hutchings/File PhotoA three-day “Green Swan” conference - its name a twist on the “black swan” theory on major systemic shocks - brought together heads of the world’s top central banks, policy-makers, academics and business. IMF managing director Kristalina Georgieva estimated there were now no fewer than 200 separate frameworks for dealing with climate risk that could lead to a fragmented approach. “Researchers concluded that firms cherry-picked to report primarily non-material climate risk information,” he said. The NGFS’s Elderson welcomed the fact that there were now “no taboos” in the debate over what role central banks can play in tackling climate change. G7 finance ministers meeting this weekend in London are due to sign off on a call for a move to mandatory climate risk disclosure, according to a draft communique leaked to Reuters.
Persons: Mike Hutchings, Mark Carney, Frank Elderson, Yi, Kristalina Georgieva, , Nobody, Andrew Bailey, Joseph Stiglitz, Biden, Christine Lagarde, Jens Weidmann, , Lagarde, Francois Villeroy de Galhau, Thierry Philipponnat, Elderson, Jerome Powell Organizations: REUTERS, Swan, Bank of England, Central Banks, Supervisors, People’s Bank of China, Yi Gang, European Union, IMF, European Central Bank, Bank of France, NGO Finance Watch, U.S . Federal Reserve, Reuters, UN, Glasgow Locations: South Africa, Paris, France, U.S, Glasgow, London, Italy, Venice, Naples, Rome
Take Five: U.S. inflation, China trade and the ECB
  + stars: | 2021-06-04 | by ( ) www.reuters.com + 0.00   time to read: +4 min
REUTERS/Eduardo Munoz/File photo1/ HIGH ALERTA critical view into inflation comes with Thursday's May U.S. consumer price index. Another strong inflation print that lifts Treasury yields could pressure valuations on tech and other growth stocks. - Fed's Quarles: Still expects inflation jump will be transitory- Pent-up demand, shortages fuel U.S. inflation read more2/ MADE IN CHINATrade data from around the Pacific should show goods going west from Japan, China and South Korea, and money flowing east, from North America. Meanwhile Chinese producer price data on Wednesday will indicate how much inflation is exported as factories start to pass on higher raw material costs to customers. - China's banks are bursting with dollars, and that's a worry read more3/ ECB BALANCING ACTThe ECB meets Thursday.
Persons: Eduardo Munoz, Thursday's, Randal Quarles, Fed's Quarles, Christine Lagarde, Joe Biden, Donald Trump's, Biden, Rishi Sunak, UK's Sunak, Chancellor Angela Merkel's, Armin Laschet, Annalena, Germany’s Merkel Organizations: Macy's, REUTERS, CHINA Trade, ., ECB, CORNWALL, U.S, Finance, Democrats, Greens, Thomson Locations: New York City , New York, U.S, CHINA, Japan, China, South Korea, North America, United States, Germany, Britain, Cornwall, Washington, London, Saxony, Anhalt, Laschet's
Why everyone is hyping up the US jobs report
  + stars: | 2021-06-04 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com + 0.00   time to read: +7 min
You can sign up right hereLondon (CNN Business) From Wall Street to Washington, everyone is waiting for the latest US jobs report. That would be up sharply from the 266,000 jobs added in April , a shock disappointment that raised questions about the strength of the US recovery and the state of the labor market. While the ADP employment report released earlier this week showed 978,000 private sector jobs were added in May, sharply exceeding the 650,000 analysts had expected, it's not always seen as a reliable indicator. But the jobs data is hugely important for investors and policymakers trying to game out the next phase of the economic recovery. China condemned the move at a press briefing Friday, saying that the United States has "unscrupulously suppressed and restricted Chinese companies."
Persons: it's, Goldman Sachs, Richard McGuire, Lyn Graham, Taylor, aren't, McGuire, Graham, Adam Aron, Aron, Joe Biden's, Biden, Donald Trump, Jill Disis, Hikvision —, Alex Capri, Hinrich, Jerome Powell, Christine Lagarde, Janet Yellen Organizations: CNN Business, Bell, CNN, US Labor Department, Refinitiv, Investors, Securities, Federal Reserve, Rabobank, European Central Bank, AMC, YouTube AMC, AMC AMC, Trey's, Wall Street, New York Times, Wall, Biden, Huawei, China Mobile, Hinrich Foundation, National University of Singapore, Green, Seven Locations: London, Washington, Frankfurt, China, Beijing, United States
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