Goldman Sachs now expects two Fed rate cuts this year, down from three
Goldman Sachs analysts said they now expect the Federal Reserve to cut interest rates twice this year, down from their prior forecast of three cuts, amid increased concerns over sticky inflation and labor market strength. GS expects two rate cuts in 2025- in June and December, and one additional cut in 2026, bringing…
Macquarie forecasts single rate cut in 2025 after robust jobs report
The latest US employment report indicated a strengthening labor market, with Macquarie economists interpreting the data as a sign of stabilization expected to continue into 2025. The December report highlighted a substantial increase of 256,000 in headline payrolls, marking the most significant gain since March, although the numbers might reflect seasonal variations that…
China CPI inflation stays flat in Dec, PPI shrinks amid limited stimulus support
Chinese consumer price index inflation grew marginally in December, as expected, while producer inflation contracted, signaling that deflation still remained largely prevalent despite recent stimulus measures. CPI grew 0.1% year-on-year in December, in line with expectations, government data showed on Thursday. The reading was softer than the 0.2% growth seen in the prior…
Quantum computing stocks drop as Nvidia CEO says decades away from usefulness
Shares of quantum computing firms fell in aftermarket trading on Tuesday after comments from NVIDIA (NASDAQ:NVDA) CEO Jensen Huang suggested that the technology was decades away from being useful. IONQ Inc (NYSE:IONQ), D Wave Quantum (NASDAQ:QMCO) Inc (NYSE:QBTS), QuantumSi Inc (NASDAQ:QSI), Quantum Computing Inc (NASDAQ:QUBT), and Rigetti Computing Inc (NASDAQ:RGTI) fell between 3%…
European stocks close mixed; eurozone inflation, corporate earnings in focus
European stock markets closed in a mixed fashion Tuesday, as investors digested key eurozone inflation data as well as more corporate earnings. At 11:15 ET (16:15 GMT), the DAX index in Germany and the CAC 40 in France gained 0.6%, while the FTSE 100 in the U.K. fell 0.2%. Eurozone consumer inflation edges…
US stock futures steady after tech gains buoy Wall St; focus turns to jobs data
U.S. stock index futures were largely steady on Sunday evening after Wall Street ended sharply higher last week boosted by technology stocks, while investors awaited crucial jobs data due later next week. S&P 500 Futures were largely steady at 5,991.00 points, while Nasdaq 100 Futures inched up 0.1% to 21,529.75 points by 19:15…
Trouble in China’s shopping paradise as Hainan duty-free spending falls 29%
BEIJING (Reuters) – Duty-free spending in China’s island province of Hainan, where global luxury players from LVMH to Kering (EPA:PRTP) have set up shop, slumped 29.3% last year as a weak economy saw a sharp drop in domestic visitors. Shoppers visiting Hainan, known for its glitzy seafront hotels and sandy beaches, spent 30.94…
Asia stocks fall tracking Wall Street, Chinese shares drop on weak factory data
Most Asian stocks were lower on Thursday tracking a subdued year-end performance on Wall Street, while Chinese stocks fell sharply after data showed a slower-than-anticipated rise in the country’s manufacturing activity. Most major stock markets were closed a day earlier for the New Year holiday. Japanese and New Zealand markets remain shut. U.S.…
US stock futures edge lower after muted Wall Street close
U.S. stock index futures were marginally lower on Thursday evening after Wall Street closed largely unchanged amid soft trading volumes in a holiday-shortened week. S&P 500 Futures inched 0.1% lower to 6,090.0 points, while Nasdaq 100 Futures fell 0.3% to 21,985.75 points by 19:27 ET (00:27 GMT). Dow Jones Futures edged 0.1% lower…
US stock futures steady after Christmas holiday
U.S. stock index futures were largely steady on Wednesday evening as markets were shut for Christmas, while Wall Street saw a rally in megacap stocks in a shortened trading session a day earlier. The New York Stock Exchange closed early on Tuesday for Christmas Eve, and the market was shut on Christmas Day.…
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