Shrinking U.S. trade deficit to turn GDP positive again
[ad_1] The numbers: The trade deficit fell in August to a 15-month low of $67.4 billion, paving the way for a resumption of growth in U.S. gross domestic product in…
Average CEO pay is now 399 times more than a typical worker’s wage and the ‘demoralizing’ process of buying a home in this unpredictable housing market
[ad_1] Hi, MarketWatchers. Don’t miss these top stories. This big city is America’s favorite for a sixth straight year, says Condé Nast Traveler Chicago again scores Condé Nast Traveler’s best…
Fed’s Daly says ‘churn’ in labor market might be settling
[ad_1] There are signs that the U.S. labor market is starting to cool off a bit, San Francisco Federal Reserve President Mary Daly said Tuesday. “I think…some of the churn…
Pound climbs, U.K bond yields fall again on expectations U.K.’s Kwarteng will speed up debt-cutting plans
[ad_1] The British pound rose and gilt yields fell a second day after reports that U.K. Chancellor Kwasi Kwarteng will publish debt-reducing plans early, a day after a U-turn over…
Inflation is forcing people to use up their savings in a bad sign for the economy
[ad_1] Turns out Americans aren’t sitting on a big pile of savings to help them endure high inflation or another recession. The U.S. savings rate fell to a 14-year low…
Fed’s Barkin expects inflation to come down a bit in coming months
[ad_1] All signs point to lower U.S. inflation in coming months, Richmond Fed President Thomas Barkin said Friday. “Inflation should come down a bit. I don’t expect it to be…
Dow futures rise 200 points as another rough quarter concludes
[ad_1] U.S. stock futures on Friday were pointing to a positive end to another difficult quarter, with key inflation data and Fed speeches set to come. What’s happening Futures on…
Fed must try to avoid a ‘harsh recession,’ Daly says
[ad_1] The Federal Reserve does not need to induce a deep recession in order to bring down high inflation, San Francisco Fed President Mary Daly said Thursday. “Inducing a deep…
Former Bank of England chief says new government has undercut other institutions
[ad_1] Former Bank of England Gov. Mark Carney said the U.K. government was undercutting other institutions. In an interview with the BBC, Carney said the tax cuts unveiled by Chancellor…
Citadel’s Ken Griffin says inflation may have already peaked, though recession risk still looms
[ad_1] Ken Griffin, the billionaire founder and chief executive of the hedge fund Citadel, thinks the U.S. may have already hit peak inflation, though a recession is still possible. Speaking…
Key Words: Kyrie Irving says he lost at least $100 million for deciding not to get vaccinated
[ad_1] ‘I didn’t appreciate how me being unvaccinated all of a sudden came to be a stigma within my career,’ the NBA star said. [ad_2] Image and article originally from…
Bond-market volatility touches one of highest levels since 2007-2009 financial crisis and recession
[ad_1] Volatility in the ordinarily sedate world of bonds climbed this week to one of the highest levels since the 2007-2009 financial crisis and recession. The ICE BofA MOVE Index,…
White House considering departure of Treasury chief Janet Yellen after the midterms, report says
[ad_1] The White House is weighing up the potential departure of Treasury Secretary Janet Yellen after the midterms, according to a published report. Axios reported, citing people familiar with the…
IMF scolds U.K. on fiscal plan that has upset financial markets
[ad_1] The International Monetary Fund on Tuesday afternoon weighed in on the massive tax-cut package and other measures at the heart of a U.K. government fiscal plan that sank the…
Consumer confidence jumps to five-month high thanks to falling gas prices
[ad_1] The numbers: Americans feel a lot better because of falling gas prices: A survey of U.S. consumer confidence jumped to a five-month high of 108 in September. The strong…
Chicago Fed president defends dot plot as he says interest-rate plateau may be warranted next year
[ad_1] Chicago Fed President Charles Evans on Tuesday gave a spirited defense of the dot plot as he said rates may need to plateau next year. Speaking at the Official…
Russian stocks tumble to their weakest level since 2017 amid reports of possible new sanctions
[ad_1] Russian stocks sank on Monday to levels not seen since 2017, weighed down by a global market selloff, threats of more sanctions and signs of continued unrest after last…
U.K. gilt yields surge, with 10-year moving past 4%, as investors bet on aggressive Bank of England action to tame tax cuts
[ad_1] U.K. bond yields surged on Monday for a second day, as investors bet the Bank of England will have to take aggressive action to offset the impact of surprisingly…
‘The housing market may have to go through a correction’: Mortgage rates hit 6.29%, Freddie Mac says
[ad_1] The numbers: U.S. mortgage rates continue to climb, adding hundreds of dollars in costs to potential homeowners. The increase in mortgage rates followed the Federal Reserve hiking interest rates…
Rents fell in August for the first time since November 2021, but tenants are still struggling. Here’s why.
[ad_1] For the first time since November 2021, U.S. median monthly rents failed to notch a new record high and even fell a little compared to the previous month —…
Mortgage applications rise for the first time in six weeks, despite rates rising to 6.25%, signaling housing market’s ‘volatility’
[ad_1] The numbers: Home shoppers are fed up waiting for the economy to turn, and with the prospect of further rate hikes, they’re slowly coming around to purchasing new homes…
Yellen: Inflation will come down next year
[ad_1] Treasury Secretary Janet Yellen on Thursday said she believed high U.S. inflation would fall next year, but cautioned there are risks to this outlook. “I believe it’s going to…
‘Prices ran wild the past two years’: Home builders say ‘housing recession shows no signs of abating’
[ad_1] The numbers: The National Association of Home Builders’ (NAHB) monthly confidence index fell 3 points to 46 in September, the trade group said on Monday. It’s the ninth month…
Jobless claims edge up to 213,000 but still show strong labor market and few layoffs
[ad_1] The numbers: The number of people who applied for unemployment benefits last week rose by 5,000 to 213,000, but new jobless claims are still quite low and reflect strong…
Yen rallies after Japan unilaterally intervenes for first time in 24 years
[ad_1] The dollar dropped sharply against the Japanese yen on Thursday, in the first intervention to support its currency since 1998, after the Bank of Japan bucked the trend of…