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☆ Euro zone inflation rises to higher-than-expected 2% in October
▼ + stars: | 2024-10-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Inflation in the 20-nation euro zone rose to 2% in October, preliminary figures released by statistics agency Eurostat showed Thursday. The fresh Thursday inflation print is seen as crucial in judging whether the European Central Bank could consider implementing a jumbo half-percentage-point cut in interest rates at its next meeting in December. The central bank has so far trimmed rates three times this year, making quarter-point increments that altogether took the central bank's key rate from 4% to 3.25%. Traders are also considering the latest growth figures for the euro area, which showed better-than-expected 0.4% expansion in the third quarter, even as analysts predicted further weakness ahead. The ECB said during its October meeting that sluggishness in the euro zone's economic activity had added to its confidence that inflation will not resurge dramatically.

Organizations: Reuters, European Central Bank, Traders, ECB Locations: Bonn, Germany

☆ Opinion: Biden needs to bring US troops back from Iraq, now
▼ + stars: | 2024-04-15 | by ( Opinion Daniel R. Depetris | ) edition.cnn.com time to read: +8 min

CNN —The subject of finally concluding America’s counter-ISIS mission in Iraq has been the plot of ongoing deliberations between Washington and Baghdad for the last three years. If the Biden administration’s approach is to wait for the perfect time to get out, then it will wait for eternity. It’s worth remembering why the United States sent troops to Iraq in the first place. The mission — eliminating ISIS’ territorial caliphate — was achieved. US troops should be pulled out of Iraq and Syria now.

Persons: Daniel R, Monday’s, Joe Biden, Mohammed Shia, DePetris, Sudani, ”, Biden, Nouri al, Barack Obama, “, —, Trump, Bashar Al, Assad, Saddam Hussein, territorially, Benjamin Netanyahu’s, Israel, Iran’s Organizations: Defense, Chicago Tribune, The New York Times, Politico, Street, Guardian, CNN, Iraqi, ISIS, “, Islamic State, Maliki, US, US Air Force, State Department, “ ISIS, Twitter Locations: The, Iraq, Washington, Baghdad, Israel, United States, Syria, Iraqi, Mosul, Syrian, Baghouz, Iran, Iranian, Turkey, Russia, Afghanistan, Moscow, Israeli, Tehran

☆ Gold smashes record again as U.S. inflation worries loom
▼ + stars: | 2024-04-03 | by ( ) www.cnbc.com time to read: +2 min

Gold prices extended a record run on Wednesday as concerns of rising inflation boosted demand for gold as a hedge, with bullion traders shrugging off doubts over an imminent U.S. interest rate cut and rising Treasury yields. Gold prices extended a record run on Wednesday as concerns of rising inflation boosted demand for gold as a hedge, with bullion traders shrugging off doubts over an imminent U.S. interest rate cut and rising Treasury yields. Spot gold was up 0.3% at $2,286.24 per ounce, as of 0406 GMT, and hit a record high of $2,288.09 earlier in the session. Data this week showed U.S. manufacturing unexpectedly rebounded, with the rise in raw materials prices triggering fears that inflation could resurge. "With commodity prices rising in general, it brings the risks of another round of inflation - so perhaps investors are hedging for inflation," Simpson said.

Persons: Bullion, Matt Simpson, Simpson, Edward Meir said Organizations: Index, Federal Locations: U.S, Ukraine, Asia

☆ Syphilis Is Soaring in the U.S.
▼ + stars: | 2024-01-30 | by ( Apoorva Mandavilli | ) www.nytimes.com time to read: +1 min

Syphilis, once nearly eliminated in the United States, continues to resurge, reaching the highest rate of new infections recorded since 1950, the Centers for Disease Control and Prevention said on Tuesday. More than 207,000 cases were diagnosed in 2022, the last year for which data are available. That represents an 80 percent increase since 2018, and 17 percent over the previous year’s tally, according to a new C.D.C. said more than 3,700 cases of congenital syphilis were reported in 2022, roughly 11 times the number recorded a decade ago. Experts pointed to a slew of reasons for the continued increases in syphilis and other S.T.I.s.

Organizations: Centers for Disease Control Locations: United States, resurge

☆ US and Iraqi governments expected to start talks on future of US military presence in the country
▼ + stars: | 2024-01-24 | by ( Natasha Bertrand | Oren Liebermann | ) edition.cnn.com time to read: +7 min

CNN —The US and Iraq are expected to soon begin talks on the future of the US military presence in the country, according to sources familiar with the matter, amid public calls from the Iraqi government for the US to withdraw its troops. US military officials and diplomats will be involved in the discussions, officials said. The talks about the future of the US’ military presence have now taken on a greater urgency amid the wider regional instability, and amid growing public calls by the Iraqi government for the US to withdraw its troops from the country. Part of the discussions will focus on whether and when it will be feasible to end the US military presence in Iraq. “The Biden administration is not considering a withdrawal of forces from Syria,” a senior US official told CNN.

Persons: Defense Lloyd Austin, ” Austin, ”, They’re, Mohammed Shia, Sudani, ” “, “, ” Jonathan Lord, Jon Alterman, it’s, Alterman, Elena Romanowski, Biden, CNN’s Haley Britzky Organizations: CNN, Pentagon, ISIS, Defense, ”, ISIS Coalition, Higher, Commission, Center for New American Security, Iraqi Security Forces, Middle, Center for Strategic, International Studies, “ Locations: Iraq, Iraqi, Iran, Syria, ”, Iranian, Baghdad, Israel

☆ Is Remote Work the Answer to Women’s Prayers, or a New ‘Mommy Track’?
▼ + stars: | 2023-11-12 | by ( Sarah Kessler | More About Sarah Kessler | ) www.nytimes.com time to read: +2 min

And when work and caregiving conflict, women are more likely to take a step back. Most post-pandemic debate around remote work has focused on whether it’s here to stay. Some version of it seems likely: About 70 percent of workers who can do their jobs off-site still work remotely either all or some days. But if old attitudes about more flexible work resurge — outspoken executives have recently described it as “lazy,” not for leaders and a perk for those who don’t “work as hard”— then it may not matter if hybrid options are widespread. This is especially true for highly skilled jobs, because women hold the majority of college degrees.

Persons: Claudia Goldin —, —, Williams, ”, Betsey Stevenson Organizations: Board, University of Michigan

☆ CNBC Daily Open: Bond yields resurge on Powell’s speech
▼ + stars: | 2023-11-10 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Jerome Powell, Chairman of the U.S. Federal Reserve, speaks during the 24th Jacques Polak Annual Research Conference in Washington DC, United States on November 09, 2023. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. But SoftBank still recorded a quarterly loss of 931.1 billion yen — that's around $6.2 billion — on the collapse of WeWork. [PRO] Higher than neutralThe Federal Reserve projects the U.S.' neutral interest rate — the so-called rate at which rates neither encourage nor constrict the economy — to be 2.5%.

Persons: Jerome Powell, Jacques Polak, Hawkish Powell, Powell, there's, Tesla, SoftBank, Goldman Sachs Organizations: U.S . Federal Reserve, Washington DC, CNBC, Nasdaq, AstraZeneca, Azelis, HSBC Global, HSBC, Fund, Federal Reserve Locations: Washington, United States, U.S, Belgian, Tesla's, SoftBank

☆ US Stocks edge higher as traders wait for Powell's Jackson Hole speech
▼ + stars: | 2023-08-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks rose higher as traders waited for Powell's speech at Jackson Hole. Last year, stocks plunged after Powell warned markets of "more pain" ahead. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyAdvertisementAdvertisementUS stocks rose Friday ahead of Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Economic Symposium. Powell's speech at the same event last year sent stocks plummeting as he reiterated the central bank's committement to fighting inflation through interest rate hikes. At last year's event, stocks plunged after Powell warned markets of "more pain" ahead, as the Fed would continue to stay hawkish on inflation.

Persons: Jackson, Powell, Jerome Powell's, Riley, Art Hogan Organizations: Investors, Service, Federal, Jackson, Fed, Riley Wealth, Nasdaq Locations: Wall, Silicon

That could help lower overall inflation when the next CPI report is released on Aug. 10, with the details in Wednesday's report suggesting "downside risks" to any forecast of July's inflation rate. Indeed, at least one Fed official on Wednesday stuck to policymakers' prevailing hawkish mantra that inflation is still too high. While not specifically addressing the CPI report, Richmond Fed President Thomas Barkin told a Maryland business group that he still felt inflation had "been stubbornly persistent." 'FINAL INNINGS'But the latest CPI data could undercut arguments for yet another rate increase beyond the July meeting. Fed officials, blindsided by the persistence of inflation they initially thought would dissipate on its own, have been reluctant to bank on good news continuing.

Persons: Omair Sharif, Rick Rieder, Lael Brainard, Brainard, Thomas Barkin, Goldman Sachs, they've, Raphael Bostic, Bostic, Howard Schneider, Michael S, Ann Saphir, Dan Burns, Paul Simao Organizations: Federal Reserve, U.S . Labor Department, Reuters Graphics Reuters, BlackRock, Fed, White, Economic Council, Economic, of New, Richmond Fed, U.S, Cleveland Fed's Center, Inflation Research, Atlanta Fed, Derby, Thomson Locations: U.S, of New York, Maryland

☆ Three Vaccines for Fall: What You Need to Know
▼ + stars: | 2023-07-05 | by ( Apoorva Mandavilli | ) www.nytimes.com time to read: +1 min

Most Americans have had one or more shots of the flu and Covid vaccines. Federal health officials are hoping that widespread use of these three vaccines will head off another “tripledemic” of respiratory illnesses, like the one seen last winter. Here’s what he and other experts say about who should receive which vaccines, and when. What respiratory illnesses are coming our way? are all likely to resurge this fall, but exactly when and how much damage they will do are unknown.

Persons: ”, Ofer Levy Organizations: Boston Children’s Hospital, Food and Drug Administration Locations: hospitalizations

"My baseline is that we should stay at this level for the rest of the year," and not cut rates until the latter half of 2024, Bostic said in an interview on Yahoo Finance. "Letting restrictive policy work for a while is prudent because the policy has been truly restrictive for less than a year, and it takes time for monetary policy changes to meaningfully influence economic activity. Bostic is the first official to say explicitly that may be too soon. Therefore, the real economic effects of tighter monetary policy are only just beginning to take hold," Bostic said. The risk of waiting is that inflation may resurge, but "that is not my baseline."

Persons: Raphael Bostic, Bostic, Howard Schneider, Andrea Ricci Organizations: Atlanta Federal Reserve, Yahoo Finance, Fed, Thomson Locations: U.S, Atlanta

☆ W.H.O. Ends Global Health Emergency Designation for Covid
▼ + stars: | 2023-05-05 | by ( Stephanie Nolen | ) www.nytimes.com time to read: +2 min

In Egypt, excess deaths were roughly 12 times as great as the official Covid toll; in Pakistan, the figure was eight times as high. Developing nations bore the brunt of the devastation, with nearly eight million more people than expected dying in lower-middle-income nations by the end of 2021. And Covid continues to spread: The W.H.O. recorded 2.8 million new cases globally, and more than 17,000 deaths, from April 3 to 30, the most recent numbers available. As many countries have reduced their testing for Covid, these numbers also probably represent a significant undercount.

To offset inflation, the deli has added a 50-cent surcharge to credit card purchases and increased prices on many items in the store, including cartons of eggs. The avian flu virus can be spread by wild birds mingling with poultry flocks, but also through contaminated clothing and equipment. But the loss of flocks, as well as increased operational costs, including labor and fuel for transportation, have eaten into the increased revenue. "Corn and soy are the key ingredients in producing an egg, because that is the feedstuff that egg layers eat." As of mid-February 2023, wholesale eggs prices have fallen by more than 50% since December.

☆ European markets head for higher open ahead of flash PMI data
▼ + stars: | 2023-01-24 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Surging inflation may appear largely in the past, but a shift to a 25 basis point hike at the next Federal Reserve policy meeting is a "mistake," according to Allianz Chief Economic Adviser Mohamed El-Erian. "'I'm in a very, very small camp who thinks that they should not downshift to 25 basis points, they should do 50," he told CNBC's "Squawk Box" on Monday. Inflation, he said, has shifted from the goods to the services sector, but could very well resurge if energy prices rise as China reopens. El-Erian expects inflation to plateau around 4%. "That's probably the best outcome," he said of the latter.

☆ Did the economy end 2022 with a bang or a whimper?
▼ + stars: | 2023-01-22 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +7 min

But the United States economy still seems to be chugging along just fine after experiencing a hiccup in the first half of 2022. Despite worries about weaker consumer spending during the holidays, economists are forecasting solid growth for the fourth quarter. Yearning for earningsMore blue chip companies will report fourth quarter results (and perhaps give guidance about the first quarter of 2023 and beyond) this week. But according to FactSet senior earnings analyst John Butters, earnings for the tech sector are expected to fall nearly 10% in the fourth quarter compared to the fourth quarter of 2021. Verizon (VZ), Johnson & Johnson (JNJ), Travelers (TRV), 3M (MMM), Boeing (BA), Dow (DOW), Visa (V), Chevron (CVX) and American Express (AXP).

☆ Analysts remain confident in Amazon long term as shares crater, expect 'redemption story' ahead
▼ + stars: | 2022-10-28 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Amazon 's disappointing quarterly results signaled to analysts that even the giants aren't immune to a macro slowdown. Analysts trimmed price targets and estimates to reflect a broader macro slowdown at the e-commerce giant following the results, with analysts at Deutsche Bank and Wolfe Research saying it's time to "batten down the hatches." However, most analysts remain bullish on the company's long-term trajectory, maintaining their outperform and buy ratings on the stock. That said, analysts across the board trimmed price targets and estimates to reflect the broader macro pressures. He trimmed his price target on the stock to $137 from $157 a share, suggesting 23% upside ahead for the stocks.

☆ WHO: Global leaders commit $2.6 bln to end polio
▼ + stars: | 2022-10-18 | by ( Nancy Lapid | ) www.reuters.com time to read: 1 min

BERLIN, Oct 18 (Reuters) - Global leaders committed $2.6 billion in funding at the World Health Summit on Thursday to end polio, the World Health Organization said. The funding will support global efforts to overcome the final hurdles to polio eradication, vaccinate 370 million children annually over the next five years and continue disease surveillance across 50 countries, the organisation said. "The new detections of polio this year in previously polio-free countries are a stark reminder that if we do not deliver our goal of ending polio everywhere, it may resurge globally,” said WHO Director General Tedros Ghebreyesus in a statement. Register now for FREE unlimited access to Reuters.com RegisterReporting by Kirsti Knolle; editing by Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

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