WASHINGTON (AP) — The nation’s economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday’s report from the Commerce Department said the gross domestic product — the economy’s total output … Read more
Stock Market Today: Dow, S&P Live Updates for January 11 Bloomberg Source link
Goldman Sachs Group Inc. plans to ramp up its credit business in India and sees an increasing opportunity to target the nation’s wealthy diaspora as global investors shift their focus from China to what is now the world’s fastest-growing major economy. The investment bank wants to broaden the range of loans it offers through its … Read more
Shipping stocks in Asia soared on expectations that disruptions to Red Sea routes due to militant attacks will push up freight rates. A gauge of Japan’s shippers rose as much as 5.8%, the only industry sector that gained while the broader Topix Index fell 1.6%. South Korea’s Korea Line Corp. and China’s Ningbo Ocean Shipping … Read more
The Marriner S. Eccles Federal Reserve building during a renovation in Washington, DC, US, on Tuesday, Oct. 24, 2023. Valerie Plesch | Bloomberg | Getty Images 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 … Read more
Clearer messaging on central bank policy in the coming months will boost the market for initial public offerings in 2024 as confidence for companies and investors builds, according to Citigroup Inc.’s head of Australia and New Zealand. “We certainly see a pickup in IPO activity into next year,” Mark Woodruff, said in a Bloomberg TV … Read more
Wall Street Strategists Turn Ever Bullish Just as Stocks Slump Bloomberg Source link
For currency speculators around the world, the trade has long been a no-brainer: simply borrow yen, which costs nothing because of sub-zero interest rates in Japan, and then park the money anywhere yields are higher, earning a tidy profit from the difference. But now, a surprising low-cost alternative to the Japanese currency has started to … Read more
Wall Street Fears a Too-Hot Economy as Recession Bets Plunge Bloomberg Source link
I’m Chris Anstey, a senior editor for economic policy in Boston, and today I’m looking at China’s micro interest-rate cuts. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X, the social media platform formerly known as Twitter, via @economics. And if you aren’t yet signed up to receive this newsletter, you … Read more