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☆ U.S. import prices rebound; export prices fall
▼ + stars: | 2023-01-13 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

Summary Import prices rebound 0.4% in DecemberCore import prices increase 0.4%Export prices decrease 2.6%WASHINGTON, Jan 12 (Reuters) - U.S. import prices unexpectedly increased in December after five straight monthly decreases, boosted by higher costs for natural gas and food, suggesting that the fight against inflation would be protracted even as consumer prices are trending lower. Import prices rebounded 0.4% last month after declining 0.7% in November, the Labor Department said on Friday. In the 12 months through December, import prices increased 3.5% after rising 2.7% in November. The government reported on Thursday that monthly consumer prices fell for the first time in more than 2-1/2 years in December. CORE IMPORT PRICES UPExcluding fuel and food, import prices rebounded 0.4%, posting their first monthly gain since April 2022.

☆ U.S. inflation subsiding as consumer prices fall; labor market still tight
▼ + stars: | 2023-01-12 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Cooling inflation could allow the Federal Reserve to further scale back the pace of its interest rate increases next month. "To be sure, the efforts by the Fed have begun to bear fruit, even though it will be a while before the promised land of a 2% inflation rate is here." Food prices climbed 0.3%, the smallest gain in nearly two years, after rising 0.5% in the prior month. Fruit and vegetable prices fell as did those for dairy products, but meat, poultry and fish cost more. The labor market remains tight, with the unemployment rate back at a five-decade low of 3.5% in December, and 1.7 jobs for every unemployed person in November.

☆ U.S. inflation cooling as consumer prices fall; labor market still tight
▼ + stars: | 2023-01-12 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The report could allow the Federal Reserve to further scale back the pace of its interest rate increases next month. "To be sure, the efforts by the Federal Reserve have begun to bear fruit, even though it will be a while before the promised land of a 2% inflation rate is here." Food prices climbed 0.3%, the smallest gain since March 2021, after rising 0.5% in the prior month. Excluding the volatile food and energy components, the CPI climbed 0.3% last month after rising 0.2% in November. The labor market, which has remained tight, will be key in this regard.

☆ U.S. consumer prices fall in December; weekly jobless claims edge down
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +4 min

[1/2] A man arranges produce at Best World Supermarket in the Mount Pleasant neighborhood of Washington, D.C., U.S., August 19, 2022. The consumer price index dipped 0.1% last month after gaining 0.1% in November, the Labor Department said on Thursday. Gasoline prices fell 12.5% in December, according to data from the U.S. Energy Information Administration. Prices for used cars and trucks are also declining as the supply of motor vehicles improves. Part of the surprise drop in claims reflects challenges adjusting the data for seasonal fluctuations at the start of the year.

☆ U.S. service sector contracts in December, price increases slow - ISM survey
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +3 min

The Institute for Supply Management (ISM) said on Friday its non-manufacturing PMI dropped to 49.6 last month from 56.5 in November. It was the first time since May 2020 that the services PMI fell below the 50 threshold, which indicates contraction in the sector that accounts for more than two-thirds of U.S. economic activity. Outside the COVID-19 pandemic slump, this was the weakest services PMI reading since late 2009. The weakness in the services sector came in the wake of another ISM survey this week showing manufacturing slumping for a second straight month in December. The ISM survey's gauge of new orders received by services businesses fell to 45.2 from 56.0 in November.

☆ Mortgage shocks and a China-led inflation spike are among the top 5 global risks of 2023, according to Charles Schwab
▼ + stars: | 2022-12-20 | by ( Carla Mozée | ) www.businessinsider.com time to read: +6 min

Mortgage shocks and re-acceleration of inflation are among the top global risks for markets in 2023. In no particular order, here are Schwab's top five global risks in 2023:1. Central banks overtightenThe Fed, the ECB and the Bank of England last week downsized their latest rate increases to 50 basis points each. "However, major central banks are making it clear they aren't finished, despite stepping down the aggressive pace of rate hikes," said Kleintop. Ukraine war broadensKleintop said investors appear to be pricing expectations of the intensity of the Ukraine war subsiding and perhaps moving towards a negotiated resolution.

☆ Stocks slide but dollar gains as central banks continue inflation battle
▼ + stars: | 2022-12-15 | by ( Lawrence Delevingne | ) www.reuters.com time to read: +5 min

Stocks fell, with the Dow Jones Industrial Average (.DJI) slipping 2.5%, the S&P 500 (.SPX) down about 2.6% and the Nasdaq Composite (.IXIC) off 3%. The STOXX (.STOXX) fell by about 2.85% as heavyweight stocks across sectors sank. U.S. Treasury yields fell on Thursday, with the yield on 10-year Treasury notes down 6.4 basis points to 3.439% and the 30-year down 8.1 basis points to 3.459%. China's economy, however, lost more steam in November as factory output slowed and retail sales fell again, hobbled by surging COVID-19 infections. U.S. crude fell 0.75% to $76.70 per barrel and Brent was at $81.85, down 1.03% on the day.

☆ Stocks drop as central banks meet after 'higher for longer' Fed view
▼ + stars: | 2022-12-15 | by ( Amanda Cooper | ) www.reuters.com time to read: +5 min

In Europe, the Swiss National Bank delivered an expected half-point hike that brought rates to a 14-year high of 1%. ,Hot on the heels of the Swiss, the Norges Bank raised rates by a quarter-point to 2.75% and indicated it has not finished tightening monetary policy. And next up is the Bank of England, which is expected to raise rates by half a point to 3.5% at 1200 GMT. Just over an hour later, the European Central Bank will also announce its rate decision. This inversion reflects concern among investors that higher interest rates could tilt the economy into recession.

☆ Oil prices rise amid forecasts of 2023 demand uptick
▼ + stars: | 2022-12-14 | by ( ) www.cnbc.com time to read: +2 min

Brent crude futures last rose $2.17, or 2.69%, to $82.85 per barrel, while U.S. West Texas Intermediate (WTI) crude futures were up $2.08 at $77.46. Looking into 2023, OPEC said it expects oil demand to grow by 2.25 million barrels per day (bpd) over next year to 101.8 million bpd, with potential upside from China, the world's top importer. The IEA, seeing Chinese oil demand recovering next year after a 400,000 bpd contraction in 2022, raised its 2023 oil demand growth estimate to 1.7 million bpd for a total of 101.6 million bpd. Oil prices have been supported by a leak and outage of TC Energy Corp's Keystone Pipeline, which ships 620,000 barrels per day of Canadian crude to the United States. Sending bearish signals, U.S. crude oil stockpiles rose by more than 10 million barrels last week, the most since March 2021, buoyed by releases from the Strategic Petroleum Reserve and as refiners reduced activity.

☆ U.S. import prices drop further; inflation pressures easing
▼ + stars: | 2022-12-14 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

Economists polled by Reuters had forecast import prices, which exclude tariffs, would fall 0.5%. In the 12 months through November, import prices increased 2.7%, the smallest gain since January 2021, after rising 4.1% in October. Excluding fuel and food, import prices fell 0.6%. Core import prices are being depressed by the dollar's strength against the currencies of the United States' main trade partners. The report from the Labor Department also showed export prices fell 0.3% in November after declining 0.4% in October.

Brent crude futures settled up $2.02, or 2.4%, to $82.70 per barrel, while U.S. West Texas Intermediate (WTI) crude futures settled up $1.94 to $77.28. Both contracts rose on a surge in diesel futures ahead of cold weather expected towards the end of the year. Sending bearish signals, U.S. crude oil stockpiles rose by more than 10 million barrels last week, the most since March 2021, buoyed by releases from the Strategic Petroleum Reserve and as refiners reduced activity. Looking into 2023, OPEC said it expects oil demand to grow by 2.25 million barrels per day (bpd) over next year to 101.8 million bpd, with potential upside from China, the world's top importer. The IEA, seeing Chinese oil demand recovering next year after a 400,000-bpd contraction in 2022, raised its 2023 oil demand growth estimate to 1.7 million bpd for a total of 101.6 million bpd.

☆ Stock futures are flat as traders look ahead to November wholesale inflation report
▼ + stars: | 2022-12-08 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +1 min

Stock futures were flat Thursday evening as investors look ahead to new inflation data due Friday. S&P 500 futures and Nasdaq 100 futures were down 0.05% and 0.06%, respectively. Earlier in the day, the S&P 500 rallied to break a five-day run of losses — its longest streak since October. The S&P 500 is off by 2.6% for the week, while the Nasdaq is down more than 3%. Next week, more inflation data and a Federal Reserve meeting are top of mind for traders.

☆ These stocks are cheap heading into 2023, and analysts love them
▼ + stars: | 2022-12-04 | by ( Fred Imbert | ) www.cnbc.com time to read: +3 min

However, this sell-off may have opened buying opportunities among some of Wall Street analysts' favorite names. Amazon made the list, trading at a 31.6% discount to its average five-year forward P/E multiple. The stocks is trading at a more than 50% discount to its average five-year forward valuation and has buy ratings from more than three-quarters of analysts covering it. The former is trading 82% below its average five-year forward valuation, while Delta is 77% below. Delta, meanwhile, has dropped 10% in 2022, but the average analyst price target on the airline implies upside of 35%.

But it is spreading across finance, energy, retail and aviation, threatening to push up labour costs in industries facing supply-chain bottlenecks and worker shortages. The turmoil is especially pronounced because union power was curtailed in Australia under laws in place since the 1990s. In the year to June, the average Australian wage rose 2.6%, compared with inflation of 6.1%, according to official data. Despite seven interest-rate hikes since May, inflation is set to climb further before subsiding in 2023, the government says. But in the current climate in Australia, workers are in no mood to back down.

☆ Recent weakness in the strong dollar is a welcome development for multinational Club stocks
▼ + stars: | 2022-11-29 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

The dollar has run into a brick wall in November, a potentially hopeful sign for multinational Club stocks that have seen their earnings dented because of the U.S. currency's strength this year. The U.S. dollar index (DXY) has declined more than 5% to around the 107 level since settling at nearly 113 on Nov. 3. However, the dollar index, which measures against six other currencies including the Japanese yen and the euro, is still up more than 10% compared with this time in 2021. Even though currency considerations don't factor into our long-term investment theses , the strong dollar has been a thorn in the side of many Club stocks in 2022. But it's important to understand near-term dynamics because we've seen how the strong U.S. dollar has pinched profits at Club stocks like P & G, Apple (AAPL), Salesforce (CRM) and more.

☆ Futures slip as investors assess mixed economic data
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Futures off: Dow 0.12%, S&P 0.12%, Nasdaq 0.07%Nov 17 (Reuters) - U.S. stock index futures edged lower on Thursday following mixed economic data this week, while chip designer Nvidia rose after reporting better-than-expected quarterly revenue. Peers Advanced Micro Devices Inc (AMD.O) and Intel Corp (INTC.O) added 1.2% and 0.4%, respectively. "Wall Street was rattled by a conflicting retail picture," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. This has added to expectations that higher rates will have to linger for a lot longer to make a difference." ET, Dow e-minis were down 41 points, or 0.12%, S&P 500 e-minis were down 4.75 points, or 0.12%, and Nasdaq 100 e-minis were down 8.75 points, or 0.07%.

☆ U.S. retail sales rise solidly; fourth-quarter GDP estimates raised
▼ + stars: | 2022-11-16 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

With inflation cooling considerably in October, economists estimate real retail sales increased 0.9% last month. Sales at food services and drinking places, the only services category in the retail sales report, increased 1.6%. Excluding automobiles, gasoline, building materials and food services, retail sales increased 0.7% last month. Data for September was revised higher to show these so-called core retail sales rising 0.6% instead of 0.4% as previously reported. Core retail salesCore retail sales correspond most closely with the consumer spending component of gross domestic product.

☆ IMF's Georgieva says Biden-Xi meeting 'constructive' signal for trade
▼ + stars: | 2022-11-16 | by ( David Lawder | ) www.reuters.com time to read: +2 min

NUSA DUA, Indonesia, Nov 16 (Reuters) - President Joe Biden's meeting with Chinese President Xi Jinping was a "very constructive" signal that may ease trade tensions between the world's two largest economies, International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday. But the Biden-Xi meeting sent "a very significant message to the world that international cooperation is important for all of us," Georgieva said. This would reduce global GDP output by $1.4 trillion to $3.5 trillion, the Fund estimates. "Also, China recognizes that there has to be a reliance on mutual cooperation because we see the Chinese economy being in a very tough spot." Indicators are showing a "gloomier" path for the world economy, "meaning it is slowing down and at that point, the Fed can reassess" as demand cools, she said.

BALI, Indonesia — Treasury Secretary Janet Yellen said she expects inflation will recede to normal levels over the next two years, down from near-four-decade highs. Consumer price increases eased to 7.7% last month, in what could be an early sign that inflation is subsiding. On a monthly basis, inflation rose by 0.4%, the same as in September. President Joe Biden at the time lauded the report as “progress” in the effort to wrangle price growth. “It will take time to get inflation back to normal levels — and we could see setbacks along the way — but we will keep at it and help families with the cost of living,” he said.

☆ Wall St Week Ahead Soaring U.S. tech stocks leave some investors doubtful rebound will last
▼ + stars: | 2022-11-12 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

At the same time, tech sector valuations remain well above the overall market, while analysts are dimming their profit outlooks for the group. That level, which is still above the 17 times earnings commanded by the S&P 500, is still too lofty for some investors. Still, some investors are considering increasing their positions in tech and megacap stocks if further evidence of easing inflation presents itself. Higher yields can weigh heavily on tech and growth stocks, whose valuations tend to be based heavily on future profits that are discounted more severely as yields go higher. The firm has been underweight large-cap tech and growth stocks, preferring small cap and value shares, Lip said.

MEXICO CITY, Nov 10 (Reuters) - The Bank of Mexico hiked its key interest rate by 75 basis points to a record 10.00% on Thursday, in line with forecasts and following in the footsteps of the U.S. Federal Reserve's recent three-quarters of a percentage point increase. In a departure from recent decisions, the bank's five board members did not vote unanimously for the increase, with Deputy Governor Gerardo Esquivel voting to hike the key rate by 50 basis points. The bank has raised its target rate by 600 basis points since June 2021, as inflation has blown past Banxico's target rate of 3%, plus or minus one percentage point. Inflation in Mexico slowed in October, official data on Wednesday showed, reaching an annual headline rate of 8.41%, down from the 8.7% annual rate the prior month. Reporting by Anthony Esposito and Brendan O'Boyle; Editing by Christian Plumb and Richard ChangOur Standards: The Thomson Reuters Trust Principles.

☆ Raytheon sees castings shortages spilling into next year amid aftermarket demand
▼ + stars: | 2022-11-08 | by ( Abhijith Ganapavaram | ) www.reuters.com time to read: +2 min

Supply shortages have crippled aerospace's ability to meet a snapback in demand for travel. The supply of castings has been singled out as problematic by aerospace executives as manufacturing them is a labor-intensive process and it takes time to train new hires. Shortages are now prompting Raytheon to choose between making new engines and servicing old ones. TRAVEL DEMAND A 'WATCH ITEM'Raytheon, whose Pratt & Whitney engines power all of Airbus' A220 jets and about half of the A320neo aircraft, said it had not seen any signs of travel demand, which has turbocharged the industry's recovery, subsiding. However, he added travel demand remains a "watch item", amid recessionary fears.

☆ U.S. service sector slows in October; price pressures build up - ISM survey
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +2 min

A reading above 50 indicates expansion in the services sector, which accounts for more than two-thirds of U.S. economic activity. The ISM's measure of new orders received by services businesses fell to 56.5 from 60.6 in September. The ISM survey's measure of services industry supplier deliveries increased to 56.2 last month from 53.9 in September. Its services industry employment gauge dropped to 49.1 from 53.0 in September. Services businesses in the ISM survey in September reported hiring remained a challenge and qualified workers were scarce.

☆ U.S. retail sales unchanged; consumers showing resilience
▼ + stars: | 2022-10-14 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

But consumers are not rolling over yet, with the report from the Commerce Department on Friday also showing a measure of underlying retail sales rising last month, thanks to strong wage gains and savings. These so-called core retail sales were also stronger than initially thought in August. Register now for FREE unlimited access to Reuters.com RegisterThe unchanged reading in retail sales last month followed an upwardly revised 0.4% rise in August. Retail sales increased 8.2% on a year-on-year basis in September. Data for August was revised higher to show these core retail sales rising 0.2% instead of being unchanged as previously reported.

☆ Former Walmart U.S. CEO on when he sees inflation subsiding
▼ + stars: | 2022-10-13 | 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 EmailFormer Walmart U.S. CEO on when he sees inflation subsidingFormer Walmart U.S. CEO Bill Simon joins "Fast Money" to discuss when he sees inflation peaking in the U.S.

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