Author: Financial Reporter
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U.S. Job Market Defies Expectations with Biggest Increase Since July 2022
The U.S. economy added 517,000 jobs in January, defying expectations and marking the biggest increase in nonfarm payrolls since July 2022.[0] The unemployment rate fell to a 54-year low of 3.4%, the government said Friday.[1] Average hourly earnings rose 0.3%, yielding an annual wage growth of 4.4%.[2] These figures indicate that the U.S. labor market…
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Bitcoin’s Bull Market: Analysts See a Rally to $30K as BTC Hits 30-Day High
Bitcoin (BTC/USD) is off to a great start in 2023 having increased by 40% since the beginning of the year as investors have become more optimistic about macroeconomic issues.[0] BTC has reached a 30-day high of $23,954 per unit, which has significantly raised the Crypto Fear and Greed Index (CFGI) hosted on alternative.me, moving it…
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Jerome Powell to Lead FOMC Rate Hike Decision: What to Expect at the February Meeting?
As the Federal Reserve’s Federal Open Market Committee (FOMC) meeting approaches on Wednesday, February 1, the markets are closely watching the decision of Jerome Powell, the 16th chairman of the Federal Reserve.[0] US inflation has cooled down to 6.5% annually, and many market participants are betting that the Fed will pivot towards accommodation this year…
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Asian Stocks on Bullish Run – What to Expect Ahead
Asian stocks have been on a bullish run since the end of October 2020, with the MSCI Asia Pacific Index up 23%, outperforming the US benchmark by the most since 1993 and also beating its European peer. The primary driver behind this rally has been China’s reopening and a weakening US dollar, as investors look…
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Investor Jeremy Grantham Warns of Stock Market Crash Ahead
Renowned investor Jeremy Grantham recently issued a warning to investors in his 2023 outlook letter, predicting that a stock market crash could be in store for later this year.[0] According to Grantham’s calculations, the S&P 500 could be at 3200 by the end of 2023, which would mark a 20% decline for the year and…
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Layoff Rate in US Reaches 1.1%: Goldman Sachs Research
Layoffs are increasing in the United States, according to recent research from Goldman Sachs.[0] Manuel Abecasis, a Goldman Sachs economist, found that the layoff rate for December and January was 1.1%, which is 0.2 percentage points higher than the 0.9% layoff rate reported in the November JOLTS report.[0] This rate corresponds to around 1.65 million…
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Smartphone Shipments Decline in 4Q22, Largest-Ever Quarter-on-Quarter Drop
The latest report from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker revealed a significant drop in worldwide smartphone shipments in the fourth quarter of 2022 (4Q22).[0] Worldwide shipments declined 18.3% year over year to 300.3 million units, marking the largest-ever decline in a single quarter. This contributed to a steep 11.3% decline…
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Exploring the Implications of China’s Reopening: What to Expect for Global Markets and Economies
The re-opening of China’s mainland market has been met with a subdued response, with the CSI 300 rising less than 0.5% and the Shanghai Composite eking out less than 0.2%.[0] The 0.5% gain in the yuan was largely in line with the performance of the offshore yuan, while Hong Kong’s Hang Seng tumbled 2.75%, giving…
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Sensex, Nifty Regain Momentum as Adani Group Stocks See Mixed Trends
On Friday, the Indian benchmark equity indices — Sensex and Nifty — hit their over-three-month lows as Foreign Institutional Investors (FIIs) offloaded shares worth Rs 5,977.86 crore.[0] The Sensex had tanked 874.16 points or 1.45 per cent to settle at 59,330.90, whereas the Nifty fell 287.60 points or 1.61 per cent to end at 17,604.35.[1]…
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Navigating the Goldilocks Scenario: The Fed’s Inflation-Fighting Efforts
Investors and the Federal Reserve are on a collision course this week as the central bank seeks to slow inflation-fighting efforts without signaling a readiness to halt them. Despite the slew of interest rate hikes from Chairman Jerome Powell and colleagues in 2022, financial conditions are the loosest since last February as investors bet fading…