A rally in megacaps spurred a rebound in stocks on speculation the artificial-intelligence boom will keep fueling market gains. Traders brushed off any jitters surrounding Friday’s US jobs report to reignite the trade that’s driven the Nasdaq 100 up over 45% this year. Optimism around AI resurfaced, with Alphabet Inc.Bloomberg Terminal up almost 5.5% a … Read more
Stock Market Today: Dow, S&P Live Updates for Dec 4 Bloomberg Source link
The world’s advanced economies are heading into a deepening slowdown as markedly higher interest rates take a hefty toll on activity that could still become more acute, the OECD warned. Growth is losing momentum in many countries and won’t edge up until 2025, when real incomes recover from the inflation shock and central banks will … Read more
The long-anticipated US recession may still be lurking out there, somewhere. But for now, the economy is barreling toward 2024 in better shape than even optimists had expected only six months ago. Growth in the third quarter blew past expectations, jobs remain plentiful, consumers are still spending, and house prices have held firm. Signals from … Read more
Employers in the US probably tempered their pace of hiring this month after beefing up payrolls by the most since the start of the year, consistent with a sturdy labor market that’s powering economic expansion. Government data on Friday are projected to show payrolls in the world’s largest economy increased by about 190,000 in October, … Read more
I’m Chris Anstey, a senior editor in Boston, and today we’re looking at why some argue that “higher for longer rates” might be tolerable. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X (formerly known as Twitter) via @economics. And if you aren’t yet signed up to receive this newsletter, you … Read more
Bank of England policy makers will decide on Thursday whether to call a halt to a string of 14 consecutive interest-rate increases, with investors and handful of economists raising doubts about another hike. Investors have still fully priced in one more quarter-point increase this year in the UK central bank’s base rate, which is now … Read more
ECB Quarter-Point Quandary Keeps Market on Tenterhooks Bloomberg Source link
The Circuit Hosted by high-profile journalist Emily Chang, The Circuit is a fast-paced, dynamic series that lives at the intersection of culture, tech, entertainment, and business. Every week, Chang will go on location to meet the world’s most fascinating founders, influencers, and innovators, conducting intimate interviews and bringing audiences behind the scenes of the most … Read more
US employers continued to add workers at a steady, yet more moderate pace, suggesting the economy has scope to avoid a recession despite higher interest rates. The economy in the euro area eked out modest growth in the second quarter, while the Bank of England raised rates and indicated borrowing conditions may remain tight for … Read more