Fed’s Powell: U.S. economy at an ‘inflection point’ – CBS ’60 Minutes’

2/2 © Reuters. FILE PHOTO: Chair of the Federal Reserve Jerome Powell listens during a Senate Banking Committee hearing in Washington 2/2 By Dan Burns and Howard Schneider (Reuters) – The U.S. economy is at an “inflection point” with expectations that growth and hiring will pick up speed in the months ahead, but also risks […]

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Oil falls more than 3% as European coronavirus curbs point to demand hit

© Reuters. Views of Total Grandpuits oil refinery By Ahmad Ghaddar LONDON (Reuters) – Oil prices fell more than 3% on Tuesday, hit by concerns that new pandemic curbs and slow vaccine rollouts in Europe will hold back a recovery in demand, while a stronger dollar also weighed. futures dropped by $ 2.20, or 3.4%, […]

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Japan economy minister Nishimura says economy recovery at half-way point

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do […]

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UK PM Johnson: We have reached a perilous turning point on the coronavirus

UK prime minister, Boris Johnson, outlines new coronavirus restrictions as he speaks in parliament Schools, colleges, and universities will stay open This is by no means a return to the full lockdown in March Businesses can stay open in a compliant way Office workers who can work from home should do so From Thursday, all […]

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Stock futures point to modest Wall Street gains ahead of big retail earnings week

© Reuters. FILE PHOTO: New York Stock Exchange opens during COVID-19 NEW YORK (Reuters) – U.S. stock index futures indicate Wall Street will make moderate gains on Monday as retail earnings queue up and with housing data in the offing. Second-quarter earnings season is mostly over, with major retailers yet to post results. Walmart Inc […]

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Retail Struggles Point to Cotton Supply Glut, Stalling Rally

© Reuters. Retail Struggles Point to Cotton Supply Glut, Stalling Rally (Bloomberg) — Cotton growers are facing a growing supply glut as shoppers are slow to return to stores, threatening to halt a recovery in prices from a decade low. Companies such Hennes & Mauritz AB are struggling to regain pre-virus sales levels and the […]

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Norges Bank Slashes Key Rate by Half Point to Fight Crisis

(Bloomberg) — Norway’s central bank delivered an emergency half-percentage point cut to its main interest rate and signaled more will come as policy makers pump stimulus into the economy a week ahead of a scheduled meeting. “A lower policy rate cannot prevent the coronavirus outbreak from having a substantial impact on the Norwegian economy, but […]

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Stock futures point to slight gains at open; Facebook up

© Reuters. Traders work on the floor of the NYSE in New York By Sruthi Shankar (Reuters) – U.S. stock index futures were up marginally on Wednesday, following a sharp selloff in technology stocks in the previous session on concerns about increased regulations in the wake of Facebook’s data privacy issue. Facebook’s shares rose 1.7 […]

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