Store front view of Lands’ End opening of the NYC Pop-Up on Vererans Day with the Bob Woodruff foundation on November 11, 2015 in New York City. Brian Bedder | Getty Images Check out the companies making headlines before the bell: Designer Brands (DBI) – The footwear retailer’s shares slide 15.6% in the premarket after … Read more
Customers dine in at a McDonald’s in Guangzhou on Dec. 1, 2022, a day after the city eased Covid restrictions on restaurant operations. Yin Hon Chow | CNBC BEIJING — A trickle of changes around China’s Covid controls in the last 24 hours has raised hopes that broader relaxation is on its way. Local state … Read more
Japanese yen strengthens after Powell commentary on smaller hikes Temasek’s $245 million FTX loss ’caused reputational damage’ to Singapore, says deputy prime minister Singapore’s Deputy Prime Minister Lawrence Wong said the state sovereign wealth fund’s investment loss of $275 million in collapsed crypto exchange FTX is “disappointing and has caused reputational damage” to the city-state. … Read more
The Dow Jones Industrial Average fell Wednesday as Wall Street waded through new economic data and awaited an afternoon speech on the economy from Federal Reserve Chair Jerome Powell. The 30-stock index lost 226 points, or 0.7%. The S&P 500 shed 0.3%, while the Nasdaq Composite climbed 0.1%. Traders were hit with conflicting economic reports … Read more
Bitcoin briefly crosses $17,000 to highest levels since mid-November The price of bitcoin briefly surpassed $17,000 in Asia’s morning session for the first time since mid-November. Bitcoin pink 2.2% from the 24 hours previous, according to Corner Metrics and last traded at $16,863.07 per coin. Ether also rose, and was up 4.74% in the past … Read more
China’s factory activity misses expectations, contracts for a second straight month China’s official manufacturing Purchasing Managers’ Index for November came in at 48, below the 50-point mark that separates growth from contraction. That’s lower than the expectations of analysts polled by Reuters, who predicted a reading of 49. October’s PMI was 49.2. PMI readings are … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, November 10, 2022. Brendan McDermid | Reuters Here are the most important news items that investors need to start their trading day: 1. Bounce back? Wall Street is looking for a rebound after Monday’s rout, which came as investors … Read more
Japan’s unemployment rate unchanged, retail sales miss estimates Japan’s unemployment rate for October was steady from September’s reading of 2.6%, according to official data. The figure is slightly higher than the mean expectation of 2.5% from economists polled by Reuters. Tea jobs-to-applicant ratio, which measures active job openings per jobseeker, was at 1.35. That indicates … Read more
Proposed EU cap on Russian oil won’t be lowered by Poland, Baltic States: CBA The European Union’s proposed cap on the price of Russian oil will likely not be lowered due to Poland and the Baltic States’ dissent, according to Commonwealth Bank of Australia. The countries have objected the proposal claims, saying that the current … Read more
Overly loose fiscal and monetary policy during Covid-19 was a “mistake,” according to the chief investment officer of asset management firm Antipodes Partners. Jacob Mitchell told CNBC’s “Street Signs Europe” Friday he expects to see a flip back to central banks “loosening policy aggressively” within 12 to 18 months to deal with the recessions set … Read more