The Fed’s path to a “Goldilocks” economy has only gotten more complicated

On December 2, 2022 in New York City, a “help wanted” sign hangs in a window of a Manhattan store. Spencer Plat | Getty Images As for the jobs reports, November was not exactly what the Federal Reserve was looking for. A higher-than-expected payroll and a high wage reading that was twice what Wall Street … Read more

Payrolls and wages are exceeding expectations and flying in the face of Fed rate hikes

Job growth was much better than expected in November, despite aggressive efforts by the Federal Reserve to slow down the labor market and tackle inflation. Nonfarm payrolls rose by 263,000 this month while the unemployment rate stood at 3.7%, the Labor Department reported Friday. Economists polled by Dow Jones had expected a 200,000 increase in … Read more

South Korea GDP, Caixin Manufacturing PMI, Japan Consumer Confidence

CNBC Pro: Forget Amazon. This is what top tech investor Paul Meeks is buying Investor confidence in the tech sector has been damaged this year by a flight to safety, but top tech investor Paul Meeks said he is now “more optimistic” about the sector than he has been in recent months, although he remains … Read more

Fed Chair Jerome Powell says smaller rate hikes could come in December

WASHINGTON — Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller rate hikes are likely ahead, even as he sees progress in the fight against inflation as largely inadequate. Echoing recent statements by other central bank officials and comments at the Fed’s November meeting, Powell said he sees the central bank in a position to … Read more

Dow loses 200 points as investors process mixed economic signals awaiting Powell’s speech

The Dow Jones Industrial Average fell Wednesday as Wall Street waded through new economic data and awaited an afternoon speech on the economy from Federal Reserve Chairman Jerome Powell. The 30-stock index lost 253 points, or 0.8%. The S&P 500 lost 0.4%, while the Nasdaq Composite was nearly flat. Investors were hit by conflicting economic … Read more

S&P 500 futures are flat as Wall Street awaits Powell’s speech on economics

S&P 500 futures were flat Wednesday as Wall Street awaits an afternoon speech on the economy from Federal Reserve Chairman Jerome Powell. S&P 500 futures were essentially little changed, with the benchmark looking for a three-day losing streak. Futures tied to the Dow Jones Industrial Average lost 18 points. Nasdaq 100 futures rose 0.1%. Traders … Read more

China’s factory activity data falls short of expectations; Asia-Pacific markets mixed

Australia’s monthly inflation indicator shows a slight slowdown Australia’s consumer price index for October slowed to 6.9% year on year, from 7.3% in September, according to a monthly indicator from the Australian Bureau of Statistics. The increase in prices for housing, food and non-alcoholic beverages, as well as transportation, led to an increase in the … Read more

S&P 500 futures are flat after Monday’s sell-off

House prices are rising less than expected An index that examined house prices in a basket of 20 cities showed a smaller year-over-year increase than analysts had expected. The 20-City composite of the S&P CoreLogic Case-Shiller US National Home Price NSA Index posted a year-over-year gain of 10.4% in September. That’s a cooler rise than … Read more

Equity futures rise after major averages fall on China’s Covid turmoil

Traders work on the floor of the New York Stock Exchange (NYSE), September 6, 2022. Brendan McDermid | Reuters US stock futures were higher Tuesday morning after major averages came under pressure from Covid protests in China, and as investors expected more economic data and commentary from Federal Reserve leaders this week. Dow Jones Industrial … Read more

How US used car prices will affect Australian inflation and house prices

Ever since the resurgence of global inflation in 2021 first started rising above central bank targets, Australians in the developed world have been able to look around and say “at least ours isn’t as bad as (fill in the country here) in)”. While this remains the case in terms of the contrast between Australia and … Read more