When Savita Subramanian, head of US equity strategy at Bank of America, raised her outlook for stocks at the end of last year, there was a lot of skepticism that equities could go any higher. The S&P 500 had already surged on expectations that the Federal Reserve would start cutting rates in 2024. And investors … Read more
Stocks dropped after solid economic readings and a rally in commodities spurred speculation that major central banks will keep interest rates higher for longer. In a revival of the “good news is bad news” trade, better-than-estimated data on US job openingsBloomberg Terminal and factory goods ordersBloomberg Terminal added to skepticism about the pace of Federal … Read more
Stock Market Today: Dow, S&P Live Updates for April 1 Bloomberg Source link
Turkey’s Recep Tayyip Erdogan is facing a shock defeat at the ballot box against the main opposition party amid rampant inflation and the highest borrowing costs since the president swept to power more than two decades ago. Erdogan’s AK Party fell behind the main opposition Republican People’s Party, known as CHP, in Sunday’s municipal elections … Read more
A key measure of underlying US inflation favored by the Federal Reserve cooled last month, and consumer spending rebounded sharply. Earlier in the week, the collapse of a major bridge in Baltimore will cause weeks or months of transportation disruptions in the Mid-Atlantic region and accelerate a shift of cargo to the US West Coast. … Read more
The rally in stocks lost traction Friday, with the market still notching its best week in 2024 amid speculation the Federal Reserve will be able to cut interest rates as soon as June. US equities wavered after a record-breaking run that drove the S&P 500 up about 10% this year. In an almost broad-based weekly … Read more
Canada, a country that’s relying heavily on immigration as an economic driver, is scaling back on its ambitions with a planned reduction in temporary residents after the influx exacerbated housing shortages. The country will set a target for temporary resident arrivals for the first time later this year, with the goal of reducing the number … Read more
US Fed meet begins today: The market does not anticipate any surprises from the US Federal Reserve in terms of rate adjustments, yet all attention remains focused on the Federal Open Market Committee’s (FOMC) interest rate decision scheduled for Wednesday, March 20. Most analysts predict that the Federal Reserve will align its monetary policy with … Read more
Lori Shelton can’t fathom ever having the money to buy a home — and that’s a major reason why so many voters feel down on the economy ahead of this year’s presidential election.Shelton, 67, drives an Uber to help pay rent in Aurora, Colorado. An advance on her pay covered her apartment’s security deposit. But … Read more
I’m Chris Anstey, a senior economics editor in Boston, and today we’re looking at reporting on the leveraged US middle class by Claire Ballentine and Eliza Ronalds-Hannon. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X via @economics. And if you aren’t yet signed up to receive this newsletter, you can … Read more