Hyundai reports stellar earnings in the fourth quarter Hyundai Motor reported net income of 1.710 trillion won (US$1.4 billion) for the fourth quarter ending in December, posting a 143.8% year-on-year increase. Despite the excellent results, the reading was still shy of Refinitiv’s forecast for a net profit of 2.5 trillion won. The figure also indicates …
Fourth-quarter GDP is expected to increase at a rate of 2.6%. Strong consumer spending was seen; other sectors to contribute Weekly jobless claims are expected to rise moderately WASHINGTON (Reuters) – The U.S. economy likely maintained a solid pace of growth in the latest quarter as consumers increased spending on goods, but momentum appears to …
The Dow Jones Industrial Average briefly fell 200 points on Tuesday as fourth-quarter earnings season picked up with eight major earnings reporters, including Johnson & Johnson (JNJ) and Verizon connections (VZ). software giant Microsoft (MSFT) Post-market reports. X Besides J&J and Verizon, other companies that reported earnings before Tuesday’s opening are also included 15:00 (mmmm), …
Falling Futures: economic data due; 6 earnings reporters Read More »
Stocks, precious metals, and cryptocurrencies have been on a tear for the last three weeks of 2023, and all eyes are now focused on the upcoming 11-day meeting of the Federal Open Market Committee (FOMC). On Friday, Federal Reserve Chair Christopher Waller said he would favor a quarter-point increase in interest rates at the next …
All eyes on upcoming Fed meeting: Market paths hinge on decision – Bitcoin Economic News Read More »
DAVOS, Switzerland, Jan. 19 (Reuters) – In the snow and sleet on Davos’ main drag, the impact of crypto winter on WEF attendance is becoming apparent. Last May, cryptocurrency firms dominated the smart-casual storefronts lining the Promenade that runs through the Swiss ski resort. Now there are just a few and the executives who have …
The Euro Stoxx 600 fell 0.2%. China’s 2022 growth is the worst in nearly 50 years Asian stocks fell 0.4%. The yen is close to its highest level in 7 months LONDON (Reuters) – Stocks fell on Tuesday after slumping Chinese growth in 2022 halted a New Year’s rally and kept investors on edge about …
Stocks falter as China data stokes global economic concerns Read More »
Goldman Sachs: China’s “exit wave” on reopening is negatively affecting the economy Economists at Goldman Sachs said in a report that the “exit wave” that China witnessed during the process of reopening its doors led to a significant decline in the economy. “The current wave of exits on the back of China’s faster-than-expected reopening has …
Asia Pacific markets are mostly lower as investors digest Chinese economic data Read More »
Hong Kong CNN – China’s economy expanded by just 3% in 2022, far short of the government’s own target, and marking one of the worst achievements in nearly half a century. Growth has been hit hard by months of widespread Covid lockdowns and the historic downturn in the real estate market. However, the number came …
As China Reopens After COVID Restrictions, Oil Demand Is Expected To Rise HSBC sees only one increase in the US Federal Reserve interest rate US crude inventories jump in a sudden increase, the largest since February 2021 Russia does not see problems with oil exports despite the sanctions NEW YORK (Reuters) – Oil prices rose …
Oil rose 3% amid global economic optimism, despite a surprise increase in US crude oil Read More »
Unemployment in the eurozone hit a new record low, while output from German factories rose in November, boosting hopes of a milder economic slowdown than fears in the single currency area. Figures from Eurostat, the European Commission’s statistics office, showed that the number of people in the labor market without work fell slightly in November. …
Strong economic data points to a shallow recession in the Eurozone Read More »
