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US weekly jobless claims drop to nine-month low; productivity gains speed

Weekly jobless claims drop 3,000 to 183,000 Continuing claims decrease 11,000 to 1.655 million Productivity accelerates at 3.0% rate in fourth quarter Unit labor costs grow at 1.1% pace WASHINGTON, Feb 2 (Reuters) – The number of Americans filing new claims for unemployment benefits dropped to a nine-month low last week as the labor market …

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Wall Street down but off session lows after Fed rate hike, choppy trading

Fed raises interest rates, sees “ongoing increases” Indexes down: Dow 0.96%, S&P 0.40%, Nasdaq 0.03% Feb 1 (Reuters) – US stock indexes were lower on Wednesday in choppy trade, bouncing off session lows hit when the Federal Reserve increased interest rates by a quarter of a percentage point and said it expects “ongoing increases” in …

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China central bank to roll over lending tools to spur growth

BEIJING, Jan 29 (Reuters) – China’s central bank said on Sunday it will roll over three lending tools to increase support for targeted sectors of the economy. The People’s Bank of China will roll over a lending tool for supporting carbon emission reduction to the end of 2024, and extend a lending tool for promoting …

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Wall Street ends higher, notches weekly gains as Fed meeting looms

PCE: inflation cools along with consumer spending American Express, Visa climb higher on solid demand Chevron falls after missing profit estimates Indexes up: Dow 0.08%, S&P 0.25%, Nasdaq 0.95% NEW YORK, Jan 27 (Reuters) – Wall Street advanced on Friday, marking the end of an rocky week in which economic data and corporate earnings guidance …

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Wall Street closes green as GDP data eases recession worries

Microsoft, Tesla lead S&P, Nasdaq higher IBM announces job cuts, asset divestment Bed Bath & Beyond sinks on default notice Intel slides after the bell following results Indexes up: Dow 0.61%, S&P 1.10%, Nasdaq 1.76% NEW YORK, Jan 26 (Reuters) – Wall Street ended a choppy session higher on Thursday as investors grappled with an …

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Strong US economic growth expected in fourth quarter, outlook darkening

Fourth-quarter GDP forecast to increase at a 2.6% rate Strong consumer spending seen; other sectors to contribute Weekly jobless claims expected to rise moderately WASHINGTON, Jan 26 (Reuters) – The US economy likely maintained a strong pace of growth in the fourth quarter as consumers boosted spending on goods, but momentum appears to have slowed …

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Bank of Canada hikes rates, becomes first major central bank to signal pause

OTTAWA, Jan 25 (Reuters) – The Bank of Canada on Wednesday hiked its key interest rate to 4.5%, the highest level in 15 years, and became the first major central bank fighting global inflation to say it would likely hold off on further increases for now. The 25-basis-point rise matched analysts’ expectations. The bank has …

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Wall Street totters after mixed earnings, trade halt glitch

SEC investigating NYSE opening bell glitch 3M slides on downbeat Q1 forecast J&J falls on sales warning; GE down on weak profit view Microsoft to report quarterly earnings after market close Indexes: Dow up 0.18%, S&P 500 off 0.13%, Nasdaq down 0.25% NEW YORK, Jan 24 (Reuters) – Wall Street was mixed on Tuesday as …

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Two energy giants, two green projects: one double-booking in North Sea

BP and Orsted clash over ‘Overlap Zone’ Carbon capture project lives with windfarm Conflict could undermine UK climate goals Similar disputes could loom in North Sea LONDON, Jan 24 (Reuters) – Oil major BP plans to build a vast carbon capture project beneath the North Sea that would be crucial to Britain hitting its emissions …

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