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☆ Trump's promise of tariffs and deportations could pop the stock market bubble if he wins a 2nd term, Capital Economics says
▼ + stars: | 2024-07-12 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

An AI-driven stock market bubble could burst early if Trump wins the 2024 election, according to Capital Economics. Trump's proposed policies on tariffs and immigration could slow economic growth and spark higher inflation, the firm said. Higher inflation would restrict the Federal Reserve's ability to cut interest rates. AdvertisementThe ongoing stock market bubble that has been inflated by a strong rally in AI stocks could pop prematurely if former President Donald Trump wins the 2024 election. A second Trump Presidency "could potentially result in the imposition of universal tariffs and reductions in immigration," Higgins said.

Persons: Trump's, —, Donald Trump, John Higgins, Higgins, Trump Organizations: Trump, Capital Economics, Service, Trump Presidency, Federal Reserve

watch nowHousing inflation has remained stubbornly high even as inflation in the broad U.S. economy has cooled significantly from peak levels during the pandemic era. At a high level, "shelter" inflation is a measure of U.S. rental prices, said Jessica Lautz, deputy chief economist at the National Association of Realtors. Why CPI shelter inflation has fallen slowlyThe pullback in shelter inflation has been slower than expected, economists said. How the CPI reflects homeownershipThe shelter inflation index is meant to measure the average cost of housing in the U.S. economy, J.P. Morgan's Seydl said. "When it comes to the CPI, [shelter] does not mean the cost for homes for purchase," said the NAR's Lautz.

Persons: Joe Seydl, Jessica Lautz, Olivia Cross, We've, Jerome Powell, Selma Hepp, Morgan's Seydl, Powell, Seydl Organizations: Morgan Private Bank, Housing, National Association of Realtors, of Labor Statistics, Capital Economics, Finance, Federal, CoreLogic, BLS, Olivia Cross North, Capital, CPI Locations: North America, U.S, Olivia Cross North America

☆ UK economy returns to growth in May, beating expectations as British pound hits four-month high
▼ + stars: | 2024-07-11 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. The City of London is widely referred to simply as the City is also colloquially known as the Square Mile. LONDON — The U.K. economy grew by 0.4% in May, flash figures published by the Office for National Statistics showed on Thursday, with the British pound jumping to a four-month high against the U.S. dollar after the announcement. The British economy exited a shallow recession in the first quarter of the year, then flatlined in April. Goldman Sachs last week upgraded its growth forecast for the U.K. following left-of-center Labour's thumping victory in the country's general election.

Persons: Sterling, Keir Starmer, Goldman Sachs, Ashley Webb, Price, BOE Organizations: Office, National Statistics, U.S, Gross, Labour Party, Capital, Bank of England's, Bank of England, European Central Bank Locations: London, United Kingdom, The City, British, U.K

☆ Here's the inflation breakdown for June 2024 — in one chart
▼ + stars: | 2024-07-11 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

They also generally like to examine "core" inflation readings. The monthly core CPI reading was 0.1% in June, the smallest increase in about three years, since August 2021. Shelter inflation has moderated much slower than expected, one of the big reasons inflation hasn't yet fallen back to target, economists said. There were encouraging signals in the latest CPI report: Monthly shelter inflation dropped to 0.2% after being stuck at 0.4% for four consecutive months. Services inflation is the trouble spotInflation for physical goods spiked as the U.S. economy reopened in 2021.

Persons: David Paul Morris, Mark Zandi, Zandi, Sarah House, Aubrey George, George, Joe Seydl, Olivia Cross Organizations: Bloomberg, Getty, U.S . Labor Department, Moody's, Wells, Wells Fargo Economics, U.S . Federal Reserve, CPI, Housing, of Labor Statistics, Morgan Private Bank, Capital Economics, BLS Locations: U.S, Wells Fargo, North America

☆ High inflation is largely not Biden's or Trump's fault, economists say
▼ + stars: | 2024-07-11 | by ( Greg Iacurci | ) www.cnbc.com time to read: +7 min

The Federal Reserve, which acts independently from the Oval Office, was slow to act to contain hot inflation, for example. That Biden is seen as stoking high inflation is due somewhat to optics: he took office in early 2021, around the time inflation spiked notably, economists said. "In my view, neither Trump nor Biden is to blame for the high inflation," said Mark Zandi, chief economist at Moody's Analytics. At a high level, hot inflation is largely an issue of mismatched supply and demand. For example, Trump imposed tariffs on imported steel, aluminum and several goods from China, which Biden largely kept intact.

Persons: Joe Biden, Donald Trump, Justin Sullivan, Trump, Biden, David Wessel, Mark Zandi, Wu Shaoyang, Wessel, Zandi, Stephen Brown, Eric Baradat, —, Michael Strain, Strain, Jerome Powell, Olivier Douliery Organizations: CNN, Getty, Federal Reserve, Biden, Trump, Hutchins, Brookings Institution, Moody's, Qingdao Port, International Monetary Fund, North, Capital Economics, American, Afp, American Enterprise Institute, Federal, . Federal Locations: Atlanta, U.S, Ukraine, Qingdao, Shandong Province, China, North America, Washington, It's

☆ Investors have lined up over $250 billion to scoop up distressed commercial real estate as pain in the sector continues
▼ + stars: | 2024-07-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Commercial real estate values have been on the decline in the US. Related storiesBanks, meanwhile, are quietly shedding exposure to commercial real estate debt. AdvertisementInvestors have been watching the commercial real estate industry since the pandemic when the work-from-home trend cleared offices of workers. Some real estate veterans are calling for a major correction in the industry. The commercial property sector, in particular, could see a wave of bankruptcies and properties with forced sales, according to Kiran Raichura, the deputy chief property economist at Capital Economics.

Persons: —, Banks, Goldman Sachs, Torsten Slok, Moody's, Kiran Raichura, Raichura Organizations: Service, Bloomberg, Business, Deutsche Bank, New York Times, Capital Economics Locations: North America, American

☆ The Fed may soon cut interest rates. That could make your next trip abroad more expensive
▼ + stars: | 2024-07-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

SeongJoon Cho/Bloomberg via Getty ImagesThe U.S. Federal Reserve may start cutting interest rates before year's end. How interest rates impact the U.S. dollarIn reality, the dynamics driving dollar fluctuations are more complex than whether the Fed raises or lowers interest rates. The European Central Bank cut interest rates in June, for example. This is happening against the backdrop of a relatively strong U.S. economy, which also generally supports a strong dollar, Petersen said. For example, investors generally get a better return on cash when interest rates are high.

Persons: SeongJoon Cho, Jonathan Petersen, Petersen, " Petersen, that's, Richard Madigan, Benjamin Atwater, Atwater, Morgan's Madigan, Jerome Powell, Bonnie Cash Organizations: Bloomberg, Getty, . Federal, U.S ., Capital Economics, U.S, Morgan Private Bank, European Central Bank, Fed, Bank of Japan, U.S . Federal, Banking, Housing, Urban Affairs, ECB Locations: Japan, Asia, Denver, Europe, U.S

☆ What a hung parliament in France could mean for markets
▼ + stars: | 2024-07-07 | by ( Matt Clinch | ) www.cnbc.com time to read: +4 min

Emmanuel Dunand | Afp | Getty ImagesInitial indications on Sunday evening for the French parliamentary run-off vote threw up some big surprises, leaving political commentators contemplating a "hung parliament" scenario that could prove challenging for both policymaking and financial markets. With none of the groups expected to hit the 289 seats needed for an absolute majority, gridlock could ensue over the coming weeks. The euro slipped about 0.3% against the U.S. dollar in thin trading on Sunday evening after the exit polls were released. "Regardless, uncertainty about the outlook for French policymaking is likely to be long-lasting," the analysts said. France is facing a challenging fiscal position, and the European Commission announced two weeks ago that it intended to place France under an Excessive Deficit Procedure due to its failure to keep its budget deficit within 3 percent of gross domestic product.

Persons: Emmanuel Dunand, France's, Emmanuel Macron's, policymaking, Jack Allen, Reynolds, Macron, David Roche Organizations: la Republique, Afp, Getty, Popular Front, Rassemblement National, U.S, Citi, Daiwa, European Commission, Capital Economics, Independent, National Rally Locations: France, la, Paris, Italy, Germany

☆ Biden's first post-debate interview could ultimately decide his fate
▼ + stars: | 2024-07-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at the mounting pressure President Joe Biden is facing to forgo his reelection campaign . The Clash's 1982 hit could be President Joe Biden's anthem these days as rumors swirl about his reelection bid. Under campaign finance law, the VP is the only candidate who can easily inherit the hundreds of millions of dollars raised by Biden's campaign . Patrick Semansky/AP Photo; BIBiden's first post-debate interview could ultimately decide his fate. In other newsAdvertisementWhat's happening todayA first look at Biden's interview with George Stephanopoulos airs on ABC.

Persons: —, he's, Barack Obama, Joe Biden, Win McNamee, Chelsea Jia Feng, Joe Biden's, Biden, Insider's Bryan Metzger, Biden's, Donald Trump, Lloyd Doggett, Raúl Grijalva, Kamala Harris — hasn't, Harris, Patrick Semansky, George Stephanopoulos, Karine Jean, Pierre, CFRA, Berkshire Hathaway, Neil Shearing, Jensen Huang, Justin Sullivan, Rebecca Zisser, Caitlin Clark, Alex Morgan, Hailey Welch, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Amanda Yen Organizations: Service, Labour Party, Business, Democratic, ABC News, New York Times, Trump, Berkshire, Economics, Saks, Saks Global, ABC Locations: New Mexico, Virginia, Biden's, New York, London

☆ Yen drops to 38-year low, U.S. dollar slumps after weak data
▼ + stars: | 2024-07-04 | by ( ) www.cnbc.com time to read: +5 min

A report indicating that the U.S. services sector contracted last month and factory orders fell also weighed on the dollar. The dollar was last up 0.1% at 161.64, after earlier falling to a session low below 161 following weak U.S. data. The yen also hit an all-time low of 174.48 against the euro . The euro rose to a three-week high against the dollar, and was last up 0.3% at $1.0781. Further pressuring the dollar was a weak U.S. services report from the Institute for Supply Management.

Persons: Sterling, Helen, —, Shunichi Suzuki, Jonas Goltermann, nonfarm Organizations: U.S ., Federal Reserve, European Central Bank, Bank of Japan, Monex USA, U.S, Finance, ADP, Reuters, Capital Economics, Institute for Supply Management, PMI, Fed Locations: United States, Washington ., U.S

☆ Worried about Nvidia? This stock offers clues about when AI will go mainstream, Scotiabank says
▼ + stars: | 2024-07-03 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

NVDA 1Y line Large cloud computing firms, such as Microsoft , Amazon and Google , have bought billions of dollars worth of AI chips from Nvidia over the past two years. Investors now want to know whether these Big Tech giants will be able to make a return on their investment — a precursor for further spending on AI chips. However, "tentative" signs have started to emerge that spending on AI chips may be spurring investment in the broader economy, Capital Economics said. CGI Inc For clues as to how quickly AI technologies are being adopted, Scotiabank highlighted CGI , a Canadian multinational IT firm that helps companies introduce AI into their business models and operations. The Scotiabank analyst believes that as large companies prepare to start AI spending, CGI is set to benefit and capture any future growth.

Persons: Shant, Neil Shearing, Shearing, Divya Goyal, Goyal, GIB Organizations: Nvidia, Microsoft, Google, Investors, Big Tech, Jennison Associates, Capital Economics, Economics, Scotiabank Locations: Britain, U.S, Canadian, Canada, New York

☆ Is inflation Biden's or Trump's fault? The answer isn't so simple, economists say
▼ + stars: | 2024-07-03 | by ( Greg Iacurci | ) www.cnbc.com time to read: +8 min

"He caused the inflation," Trump said of Biden during the June 27 debate. "He decimated the economy, absolutely decimated the economy," Biden said. 'Neither Trump nor Biden is to blame'Global events beyond Trump's or Biden's control wreaked havoc on supply-and-demand dynamics in the U.S. economy, fueling higher prices, economists said. "In my view, neither Trump nor Biden is to blame for the high inflation," said Mark Zandi, chief economist at Moody's Analytics. For example, Trump imposed tariffs on imported steel, aluminum and several goods from China, which Biden largely kept intact.

Persons: Donald Trump, Joe Biden, Andrew Harnik, Trump, Biden, David Wessel, Mark Zandi, Mario Tama, Wessel, Zandi, Stephen Brown, —, Michael Strain, Strain Organizations: Getty, Federal Reserve, Biden, Trump, Hutchins, Brookings Institution, Finance, Social Security, Medicare, Moody's, Port, International Monetary Fund, North, Capital Economics, American, American Enterprise Institute, Federal, U.S Locations: Atlanta, U.S, Ukraine, China, Port of Los Angeles, San Pedro , California, North America, It's

☆ Capital Economics: S&P 500 could reach 7,000 by next year due to AI enthusiasm
▼ + stars: | 2024-07-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCapital Economics: S&P 500 could reach 7,000 by next year due to AI enthusiasmNeil Shearing, Group Chief Economist at Capital Economics, discusses his call for the S&P 500 to reach 7,000 by 2025.

Persons: Neil Shearing Organizations: Email Capital, Capital Economics

☆ AI will power the S&P 500 another 27% higher before peaking next year, research firm says
▼ + stars: | 2024-07-03 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Enthusiasm for AI will drive the S&P 500 to 7,000 by next year, Capital Economics forecasts. The firm says AI is a market bubble that will inflate through 2025. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . While the AI market mania has drawn comparisons to the 2000's dot-com bubble, some have dismissed the analogy, noting that today's AI benefactors are nowhere near as overvalued as early internet counterparts.

Persons: —, Neil Shearing, Shearing, MIT's Daron Acemoglu, Goldman Sachs Organizations: Service, Capital Economics

☆ 'A lot of weakening' in South Korea's domestic demand, economist says
▼ + stars: | 2024-07-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'A lot of weakening' in South Korea's domestic demand, economist saysShivaan Tandon of Capital Economics discusses the outlook for South Korea's economy, interest rates and investing opportunities.

Persons: Shivaan Tandon Organizations: Capital Economics Locations: South

☆ Markets unfazed as Donald Trump has much better debate night than Joe Biden
▼ + stars: | 2024-06-28 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

London CNN —President Joe Biden had a shaky performance in last night’s presidential debate, triggering panic in the Democrat camp. Former President Donald Trump, meanwhile, repeated multiple falsehoods while doubling down on his record of cutting taxes and hiking tariffs during his first presidential term. If repeated in a second Trump term, many economists fear that kind of agenda could stoke inflation at a critical moment and add to America’s rapidly growing debt mountain. That could pull the typical year-end election relief rally forward, said Ed Clissold, chief US strategist at Ned Davis Research. The US dollar has also been reactive — it edged higher as initial CNN polling found that Trump was viewed as the winner of the debate.

Persons: Joe Biden, Donald Trump, shrugged, ”, Keith Lerner, Barack Obama, Trump, Lerner, Ed Clissold, Ned Davis, Antonio Ernesto Di Giacomo, “, Goldman Sachs ’ Scott Rubner, Jonas Goltermann, Emmanuel Macron, Katie Nixon, France’s, CDK, Ramishah Maruf, Eva Rothenberg, aren’t, they’ve, Scott Campbell, CNN they’ve, Jordan Valinsky, Tim Wentworth Organizations: London CNN, Democrat, Trump, “, Biden, Ned, Ned Davis Research, Investors, Capital Economics, CNN, Renaissance, Northern Trust Wealth Management, CAC, CDK, Auto, Capital City Buick GMC, Bloomberg, Walgreens Locations: France, “, North America, United States, Canada, Berlin , Vermont, Eastern Europe, America

☆ France's shock election has rattled nerves and raised debt crisis talk
▼ + stars: | 2024-06-27 | by ( Jenni Reid | ) www.cnbc.com time to read: +6 min

Poster of Christophe Versini for the Rassemblement National (National Rally) party, with Marine Le Pen and Jordan Bardella on it, on June 24, 2024. Recent polling suggests the far-right Rassemblement National (RN, or National Rally) party, led by Jordan Bardella, could win the most seats in the National Assembly, followed by the left-wing alliance Nouveau Front Populaire (NFP, or New Popular Front). French bond yields — which move inversely to prices — have been relatively contained. Even then, he added, the spread of French bond yields over their German counterparts looked set to remain higher than before Macron called the election. There is little concern over France enacting its own "Frexit," he said, with even National Rally having moved away from actively proposing leaving the euro area or the European Union.

Persons: Christophe Versini, Jordan Bardella, Magali Cohen, Emmanuel Macron, Sunday's, Giorgia Meloni, Viraj Patel, Patel, Liz, Truss, Andrew Kenningham, Macron, Kenningham, François Mitterrand, Christian Keller, CNBC's, Keller Organizations: Rassemblement National, Afp, Getty, National Assembly, Societe Generale, BNP, Vanda Research, Capital Economics, European Central Bank, Bank of England, Barclays, European Union Locations: Germany, Italy, Europe, France, Britain

☆ CNBC Daily Open: Nvidia unseats Microsoft as world's most valuable company
▼ + stars: | 2024-06-19 | by ( Abid Ali | ) www.cnbc.com time to read: +5 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The shift presents challenges for tech-focused ETFs and could affect their holdings of heavyweights like Nvidia , Microsoft , and Apple . Markets are pricing in at least two rate cuts this year, while Fed officials have indicated only one rate cut is likely. Nvidia takes the crown Nvidia on Tuesday surpassed Microsoft to become the world's most valuable public company with a market cap of $3.34 trillion. Federal Reserve Governor Adriana Kugler signaled the likelihood of a rate cut later this year.

Persons: Dave Calhoun, Josh Hawley, Calhoun, Hawley, Paul Ashworth, Susan Collins, Collins, Adriana Kugler, " Kugler, Jeff Cox, Cox, Claudia Sahm, —, Kif Leswing, Bob Pisani, Leslie Josephs, Alex Harring, Samantha Subin, Spencer Kimball, Yun Li, Lim Hui Jie Organizations: New York Stock Exchange, CNBC, Nvidia, Microsoft, Apple, Federal Reserve, Fed, Boeing, Federal, North, Capital Economics, Boston Federal, Peterson Institute for International Economics Locations: New York City, U.S, North America, Boston, Lawrence , Massachusetts, Washington

☆ Paris loses stock market crown to London as political upheaval looms
▼ + stars: | 2024-06-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —London’s stock market has edged ahead of its rival in Paris as fears grow over the outcome of France’s looming parliamentary elections. The first round of the French elections is scheduled for June 30, followed by a second round on July 7. Hubert de Barochez, a senior market economist at consultancy Capital Economics, said investors might be concerned that a parliament run by the National Rally would penalize banks. In contrast with the political and financial turmoil in France, UK financial markets are “relatively stable,” said Rudolph at IG Group. Credit ratings agencies are already keeping a close eye on France, one of the EU’s three most-indebted countries.

Persons: Emmanuel Macron, Axel Rudolph, you’ve, ”, OpinionWay, Macron, Hubert de Barochez, Rudolph, Richard Hunter, Mohit Kumar Organizations: London CNN, Bloomberg, CAC, FTSE, European Union, “, CNN, National, BNP, Credit, Capital Economics, IG Group, Labour Party, Interactive Investor, National Rally, Jefferies Locations: Paris, France, United Kingdom, Europe’s, Britain

☆ Stocks are in a sweet spot but bears still fear a bubble is near bursting. Here's what 5 forecasters are saying about a potential crash.
▼ + stars: | 2024-06-16 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Here's what five forecasters have to say about the latest rally — and why they think the stock market is headed for a fall. In 2009, he wrote a book predicting a stock market crash and ensuing economic depression, which he said could last for 10 years or more. The research firm is predicting the S&P 500 could see a steep correction following a rally to 6,500. Yet, that could end up being an excellent opportunity for investors who are diversified in other areas of the market, Bernstein said. AdvertisementTypically, there are eight warning signs of a market bubble forming, and six of them have already flashed, the bank said.

Persons: Stocks, —, haven't, Harry Dent Stocks, Harry Dent, Dent, John Higgins, Higgins, John Hussman, Hussman, Richard Bernstein, Bernstein Organizations: Service, Nasdaq, Apple, Nvidia, Fox Business Network, Stocks, Capital Economics, John Hussman Elite, UBS

☆ South Africa’s governing alliance emerges as the new parliament convenes
▼ + stars: | 2024-06-14 | by ( Story Reuters | ) edition.cnn.com time to read: +4 min

Reuters —The African National Congress has agreed to form a government of national unity for South Africa with three other parties including its largest rival, the pro-business Democratic Alliance, public broadcaster SABC reported on Friday. The SABC report came as the newly elected parliament was convening for the first time and lawmakers were in the process of being sworn in. The chamber will later elect its speaker, deputy speaker and the country’s president. SABC said the unity government would include the ANC, the DA, the socially conservative Inkatha Freedom Party and the right-wing Patriotic Alliance. The session was taking place in a Cape Town convention centre as the parliament complex was damaged by fire in 2022.

Persons: ”, Sihle Zikalala, John Steenhuisen, Cyril Ramaphosa, Raymond Zondo, Helen Zille, Ramaphosa, “, Jacob Zuma Organizations: Reuters, African National Congress, Democratic Alliance, SABC, ANC, DA, Freedom Party, Patriotic Alliance, National Assembly, Fighters, Party, IFP, The Patriotic Alliance, Capital Economics, EFF, MK, ”, Economics Locations: South Africa, Cape Town, London, policymaking

☆ Here are the 'micro pockets' of deflation in May 2024 — in one chart
▼ + stars: | 2024-06-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

There are currently some "micro pockets" of deflation in the U.S. economy, said Joe Seydl, a senior markets economist at J.P. Morgan Private Bank. Why prices are deflating for goodsConsumers have largely seen prices deflate for physical goods, such as cars, furniture and appliances, economists said. For example, households have seen prices for furniture and bedding fall by 3.7% since May 2023, according to the consumer price index. watch nowThe U.S. dollar's strength relative to other global currencies has also helped rein in prices for goods, economists said. Travelers have also seen deflation for airline fares (-5.9%), hotels (-1.7%) and car rentals (-8.8%) since May 2023.

Persons: Joe Seydl, Seydl, Michael Pugliese, they've, Hayley Berg, Hopper, Olivia Cross Organizations: Getty, Morgan Private Bank, Consumers, Wells, Wells Fargo Economics, Finance, Federal Reserve, of Labor Statistics, U.S, Canadian, Capital Economics Locations: U.S, Wells Fargo, North America

☆ UK unemployment nears three-year high, wage growth firm as election looms
▼ + stars: | 2024-06-11 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

A staff wanted sign in the window of a restaurant in the Soho district of London, U.K., on Tuesday, Sept. 7, 2021. LONDON — U.K. unemployment unexpectedly rose to its highest level in two and a half years, data showed Tuesday, amid a heated general election campaign in which the economy is a key battleground. Simultaneous strong wage growth divided opinions from market-watchers mulling the timing of an interest rate cut from the Bank of England. While market pricing on Tuesday suggested next to no chance of a rate cut at the BOE's June meeting, and a 36% shot in August, that probability rises to nearly 60% for the September deliberations. Consultancy Capital Economics said that, while the stickiness of wage growth would be a "lingering concern" for the BOE, the rate should soon be on a "firm downward path" as unemployment rises.

Persons: Richard Carter, Cheviot, BOE, Capital's, Ruth Gregory, Rishi Sunak, Keir Starmer, Sunak, We've, it's, Starmer Organizations: LONDON, Bank of England, National Statistics, Reuters, Consultancy Capital Economics, Conservative Party, Labour, Conservatives Locations: Soho, London

☆ French election shock hits stocks and the euro
▼ + stars: | 2024-06-10 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —The decision by French President Emmanuel Macron to call a snap election after losing to the far right in a vote for European lawmakers roiled markets and the euro Monday. The first round of the French election is scheduled for June 30, followed by the second round on July 7. Under the French system, parliamentary elections are held to elect the 577 members of the lower house, the National Assembly. Higher yields indicate that investors want a bigger premium to buy French bonds given the political uncertainty. “A right-wing majority in the (French parliament) would hamper any reform plans.

Persons: Emmanuel Macron, Macron, Générale, “, ”, Mike O’Sullivan, whittle, Andrew Kenningham, ” Mohit Kumar Organizations: London CNN, BNP, Credit Agricole, National, National Assembly, CNN, Capital Economics, Jefferies Locations: Paris, Europe, —, France

☆ China's explosive export growth could make trade tensions with America even worse
▼ + stars: | 2024-06-10 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

China's exports in May blew past estimates, rising 7.6% year-over-year in dollar terms. But as cheap products flood the US and EU, Western leaders are responding with trade barriers. But as Beijing unloads its products on the world, it's turning up the heat on trade tensions. Friday's data suggests that technology products are boosting China's exports, resulting from the country's growing emphasis on advanced manufacturing. Last month, President Joe Biden announced fresh tariffs against Beijing's advanced products, including quadrupling the duties on Chinese electric vehicles.

Persons: that's, Joe Biden, Donald Trump, Leland Miller, Donald Trump's, Neil Shearing Organizations: Service, Reuters, European Union, Beijing's, Republican Locations: EU, Beijing, China, Southeast Asia

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