ECI

Biden misstates China’s GDP growth, calls its economy a ‘ticking time bomb’

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Biden misstates China’s GDP growth, calls its economy a ‘ticking time bomb’

U.S. President Joe Biden speaks as he holds a press conference with Finland’s President Sauli Niinisto in Helsinki, Finland, July 13, 2023. REUTERS/Kevin Lamarque/File Photo SALT LAKE CITY, Aug 10 (Reuters) – U.S. President Joe Biden on Thursday called China a “ticking time bomb” because of economic challenges including weak growth, but misquoted the country’s … Read more

Domino effect: India rice export ban puts market on edge for copycat curbs

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Domino effect: India rice export ban puts market on edge for copycat curbs

India’s rice export ban leaves 10 mln T of world supply gap Rival rice suppliers could raise exports by 3 mln T Other producers may limit exports as local prices rally Tighter global supplies to heighten food inflation worries MUMBAI, Aug 11 (Reuters) – India’s rice export ban has the world market bracing for similar … Read more

Wall Street closes near flat as Treasury yields surge

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Wall Street closes near flat as Treasury yields surge

(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window.) Amazon surges in extended trade after results Gloomy Spirit, Expedia results drag travel stocks lower PayPal drops after weak Q2 margins Qualcomm tumbles on signaling more pain from smartphone slump Aug 3 (Reuters) – U.S. … Read more

Fitch downgrade highlights investor worries about US fiscal picture

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Fitch downgrade highlights investor worries about US fiscal picture

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. REUTERS/Brendan McDermid/File Photo Aug 2 (Reuters) – Fitch’s downgrade of the U.S. credit rating is likely to exacerbate unease about the country’s debt position, political polarization and the global standing of the U.S. dollar, investors … Read more

Wall Street ends down, investors step back after Fitch US rating cut

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Wall Street ends down, investors step back after Fitch US rating cut

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 20, 2023. REUTERS/Brendan McDermid/File Photo Fitch cuts US credit rating to AA+ Wells Fargo slides on plan to help refill FDIC coffers U.S. private payrolls beat expectations in July, ADP says Indexes down: Dow 0.98%, S&P 1.38%, … Read more

Endgame for Fed’s tightening cycle challenged by easing financial conditions

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Endgame for Fed’s tightening cycle challenged by easing financial conditions

July 28 (Reuters) – (This July 28 story has been refiled to remove the garbling in paragraph 2) Less tight financial conditions as exhibited by the red-hot stock market may increase the chances that the Federal Reserve hikes rates again before the end of the year, some economists reckon, even as financial markets put little … Read more

Morning Bid: Bank of Japan excites, Dow unlucky, Intel jumps

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Morning Bid: Bank of Japan excites, Dow unlucky, Intel jumps

A look at the day ahead in U.S. and global markets from Mike Dolan The Bank of Japan added its own twist to a week of rising central bank interest rates on Friday, and it proved an unlucky 13 for Dow Jones bluechips (.DJI) on Wall St. The BOJ’s long-awaited tweak of its ultra-easy bond-buying … Read more