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☆ Big U.S. firms adopt cautious tone on China recovery
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +3 min

In April, China's imports contracted sharply, underscoring signs of weak domestic demand as a battered property market, worries over job stability and global economic uncertainty kept shoppers wary. "We grew mid-single digits in China, which had previously been a double-digit growth market for us pre-pandemic. "Consumer confidence remains weak and shaken because many Chinese faced job and salary cuts in 2022 and Chinese New Year bonuses in 2023 were low," said Shaun Rein, managing director at China Market Research Group. Still, a rapid recovery in domestic travel demand propped up sales at hotels. "China will be a growth driver for many multi-national companies but will not be at the high growth rates many analysts predict," China Market Research's Rein said.

☆ Euro zone companies are slowing price hikes - ECB poll
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

FRANKFURT, May 5 (Reuters) - Euro zone companies are raising prices at a more moderate pace as their costs stabilise, demand cools and competition mounts, although growing wages remain a concern, according to a European Central Bank survey published on Friday. read moreThe central bank's latest poll of 61 large euro zone companies from outside the financial sector may give it some comfort, with companies reporting slower price growth, albeit with differences among sectors. Labour costs were rising, with wages expected to rise by 5% this year -- unchanged from the previous survey round in February. This meant that service providers, which are particularly sensitive to labour costs, continued to anticipate strong price hikes. By contrast, companies that sell consumer goods, particularly non-essential ones, saw price hikes "becoming more difficult".

☆ Exclusive: Germans shun deposits abroad on fear of new crisis
▼ + stars: | 2023-03-30 | by ( Francesco Canepa | ) www.reuters.com time to read: +4 min

By contrast, German banks, which are perceived as safer because of their government's high credit rating and two separate safety nets on deposits, saw an increase in demand, both platforms said. Sibylle Miller-Trach of the German consumer association in Bavaria said "term deposits aren't necessarily safe" and savers should gather information about the creditworthiness of the bank and its country. Household flows into bank deposits with an agreed maturitySPREAD SEEN WIDENINGCheck24 and competing platforms do not publish figures about their volumes of business so it is hard to tell how much money Germans have deposited abroad. By contrast, the most that savers could get from a German bank was 2.55% from online lender SWK Bank. "The current crisis is leading customers to keep their deposits with their local bank," said Christian van Beek, a director at the Scope Ratings agency.

☆ US businesses see moderation in inflation ahead, Fed survey shows
▼ + stars: | 2023-03-08 | by ( Lindsay Dunsmuir | ) www.reuters.com time to read: +3 min

But after some softening late last year, the economy has since rebounded and price increases have reaccelerated. But there were also hopeful signs, with supply chains easing further and price increases moderating in many of the Fed's regional districts. "Looking ahead, contacts expected price increases to continue to moderate over the year," the report said. That said, inflation remained "widespread" according to the survey, and in the labor market "finding workers with desired skills or experience remained challenging." Fed policymakers have made clear that there would have to be some easing in labor market shortages in order for wage pressures to ease.

☆ Consumer debt hits record $16.9 trillion as delinquencies rise as well
▼ + stars: | 2023-02-16 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Consumer debt hit a fresh record at the end of 2022 while delinquency rates rose for several types of loans, the New York Federal Reserve reported Thursday. Debt across all categories totaled $16.9 trillion, up about more than $1.3 trillion from a year ago as balances rose across all major categories. Auto loan debt delinquencies rose 0.6 percentage point to 2.2% while credit card debt jumped 0.8 percentage point to 4%. Student loan debt also increased for the month after staying flat during much of the pandemic amid government-backed amnesty for borrowers. Auto loan debt edged higher to $1.55 trillion while credit card balances rose to just shy of $1 trillion.

☆ U.S. job growth accelerates in January, wage gains moderate
▼ + stars: | 2023-02-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 3 (Reuters) - U.S. job growth accelerated sharply in January amid a persistently resilient labor market, but a further moderation in wage gains should give the Federal Reserve some comfort in its fight against inflation. The Labor Department's closely watched employment report's survey of establishments on Friday showed that nonfarm payrolls surged 517,000 jobs last month. Economists polled by Reuters had forecast payrolls increasing by 185,000 jobs and wages advancing 4.3% year-on-year. It also incorporated new population estimates in the household survey, from which the unemployment rate is derived. As such January's unemployment rate of 3.4% is not comparable to December's 3.5% rate.

☆ Strong U.S. job growth expected in January; wages seen cooling
▼ + stars: | 2023-02-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

"Wage growth is decelerating less than inflation," said Kate Bahn, chief economist at the Washington Center for Equitable Growth in Washington. It will also incorporate new population estimates in the household survey, from which the unemployment rate is derived. As such January's unemployment rate will not be directly comparable to December. REVISIONS IN FOCUSThe revisions will attract attention after researchers at the Philadelphia Fed published a paper in December that suggested employment growth in the second quarter was overstated by a million jobs. Economists will be closely watching the labor force for signs whether the current pace of job growth will persist.

☆ Wall Street Week Ahead: Wall Street hunts for recession plays to weather potential 2023 turbulence
▼ + stars: | 2022-12-02 | by ( David Randall | ) www.reuters.com time to read: +5 min

JPMorgan, Citi and BlackRock are among those who believe a recession is likely in 2023. Nevertheless, many on Wall Street are increasing allocations to areas of the market that have a reputation for outperforming during uncertain economic times. The S&P 500 Health Care sector is down around 1.7% year-to-date, handily beating the broader index's performance. JPMorgan's analysts forecast a "mild recession" and expect the S&P 500 to test its 2022 lows in the first quarter of next year. Signs of ebbing inflation have fueled hopes that the Fed may tighten monetary policy less than expected, supporting a rebound in the S&P 500 that has buoyed the index from its October low.

☆ Dollar extends losses as Fed minutes signal slower rate hikes
▼ + stars: | 2022-11-24 | by ( Samuel Indyk | ) www.reuters.com time to read: +3 min

"As long as the Fed see a stronger labour market, they don't have a big concern about tightening," Christensen said. The dollar index , which measures the greenback against six major peers, was down 0.2% at 105.75, after sliding 1.1% on Wednesday. The euro held onto gains after the account of the European Central Bank's October meeting showed policymakers feared that inflation may be getting entrenched, justifying their outlook for further rate hikes. Meanwhile, billionaire investor Bill Ackman said he's betting the Hong Kong dollar will fall and that its peg to the U.S. dollar could break. The Japanese yen was one of the strongest gainers among major currencies, climbing 0.9% against the dollar to 138.285.

LONDON, Nov 24 (Reuters) - The U.S. dollar held onto losses on Thursday after the minutes from the Federal Reserve's November meeting supported the view that the central bank would downshift and raise rates in smaller steps from its December meeting. "As long as the Fed see a stronger labour market, they don't have a big concern about tightening," Christensen said. The dollar index , which measures the greenback against six major peers, was little changed at 105.93, after sliding 1.1% on Wednesday. The euro was up 0.3% against the Swedish krone after Sweden's Riksbank raised rates by 75 basis points, in line with expectations in a Reuters poll. The Japanese yen was one of the strongest gainers among major currencies against the dollar, climbing 0.6% to 138.77.

The eagerly awaited readout of the Nov. 1-2 Fed meeting showed officials were largely satisfied they could now move in smaller steps. The dollar index , which measures the greenback against six major peers, was down 0.14% at 105.75, after sliding 1% overnight. The minutes also showed an emerging debate within the Fed over the risks that rapid policy tightening could pose to economic growth and financial stability. Rising coronavirus cases have led Chinese cities to impose more curbs, increasing investor worries about the economy and putting a lid on risk appetite. The Australian dollar rose 0.25% to $0.675, while the kiwi was 0.17% higher at $0.6255.

The eagerly awaited readout of the Nov. 1-2 Fed meeting showed officials were largely satisfied they could now move in smaller steps. The dollar index , which measures the greenback against six major peers, was down 0.066% at 105.830, after sliding 1% overnight. The minutes also showed an emerging debate within the Fed over the risks that rapid policy tightening could pose to economic growth and financial stability. The Australian dollar rose 0.25% versus the greenback at $0.675, while the kiwi was 0.26% higher at $0.625. The Japanese yen strengthened 0.54% versus the greenback to 138.84 per dollar.

☆ An ex-Shopify employee used her severance to found a new startup after getting laid off with 1,000 others. Here's why that can be a smart move in a downturn.
▼ + stars: | 2022-11-17 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +4 min

Stella Alexandrova was one of 1,000 employees laid off by e-commerce giant Shopify in July. She saw the layoff and five months of severance as an opportunity to launch a business. Alexandrova was one of 1,000 employees laid off at the e-commerce giant this summer. Shopify offered her five months of severance after being laid off, effectively "paying for me to be able to start my own thing," she said. A week after being laid off, Alexandrova started her travel app Mave to help people plan trips in minutes.

☆ Futures rise with all eyes on key jobs data
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +3 min

Nonfarm payrolls is expected to have increased by 200,000 jobs last month after rising 263,000 in September, according to a Reuters survey of economists. The U.S. central bank on Wednesday hiked its benchmark rate by 75 basis points as expected while hinting at smaller increases ahead. However, Fed Chair Jerome Powell said the "ultimate level" of policy rate would likely be higher than previously estimated. ET, Dow e-minis were up 197 points, or 0.62%, S&P 500 e-minis were up 29 points, or 0.78%, and Nasdaq 100 e-minis were up 84.5 points, or 0.79%. Reporting by Shubham Batra, Shreyashi Sanyal and Sruthi Shankar in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

☆ Morning Bid: Laboring markets get China fillip
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike Dolan. With one eye on the U.S. employment report at the end of a dour week of rising interest rates, world markets were spurred by another slightly mysterious Chinese stock surge. None of these reports have yet been confirmed, but some former officials appeared to encourage the speculation on Friday. The Shanghai Composite (.SSEC) rose 2.7% and was headed for a 5.6% weekly gain, the largest in more than two years. U.S. stock futures were up marginally ahead of the open, however, after another round of heavy index losses on rising interest rate fears on Thursday.

☆ U.S. job growth seen smallest in nearly two years in October, unemployment rate up
▼ + stars: | 2022-11-04 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

"The labor market is basically OK, but it does seem to be slowing," said Guy Berger, principal economist at LinkedInin San Francisco. "The Fed is going to try to thread the needle where they slow down the labor market enough to put downward pressure on wages and inflation, without causing a recession." Still, the labor market remains tight, with 1.9 job openings per unemployed person at the end of September. Stripping out any distortions from the weather and calendar quirk, wage growth is cooling. "We believe we've seen wage growth peak," said Michelle Green, principal economist at Prevedere in Columbus, Ohio.

☆ U.S. business activity weakens again in October -S&P Global survey
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +3 min

S&P Global said on Monday its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, fell to 47.3 this month from a final reading of 49.5 in September. "The decline was led by a downward lurch in services activity, fueled by the rising cost of living and tightening financial conditions." But the S&P Global survey may exaggerate the slowdown. The survey's flash manufacturing PMI fell to 49.9 this month, its first contractionary reading since June 2020, from 52.0 in September. The survey's flash services sector PMI fell to 46.6 from 49.3 in September.

☆ Wall Street futures resume fall as economic worries weigh
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

Megacap growth names such as Amazon.com Inc , Apple Inc (AAPL.O), Microsoft Corp , Meta Platforms Inc and Tesla Inc (TSLA.O) lost between 0.8% and 1.6% in premarket trading. ET, Dow e-minis were down 225 points, or 0.76%, S&P 500 e-minis were down 31.25 points, or 0.84%, and Nasdaq 100 e-minis were down 117.75 points, or 1.02%. Investors will be watching for weekly jobless claims, which is expected to rise by 2,000 to 215,000 last week. A second estimate of the government last month had shown the economy contracted at 0.6%, a more moderate pace than initially thought. Register now for FREE unlimited access to Reuters.com RegisterReporting by Susan Mathew in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. business activity remains subdued in September, S&P Global survey shows
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Mike BlakeWASHINGTON, Sept 23 (Reuters) - U.S. business activity contracted for a third straight month in September, though the pace of decline slowed while improving global supply chains eased inflation pressures for companies. Register now for FREE unlimited access to Reuters.com RegisterThe S&P Global survey, however, likely exaggerates the slowdown in economic activity. The survey's flash manufacturing PMI nudged up to 51.8 this month from 51.5 in August. With input price increases slowing, average operating expenses for manufacturers rose this month at the slowest pace since November 2020. The survey's flash services sector PMI rose to 49.2 from 43.7 in August.

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