Last month, the Federal Reserve increased interest rates again, the ninth consecutive increase since the Fed began raising rates in March 2022. While the full effects of the latest rate hike remain to be seen, analysts debate whether the Fed will raise rates again at its next meeting in May. This is the big question…
Stock Market Today: Global Shares Mostly Rise Despite Worries About US Debt Talks
May 22, 2023
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TOKYO—Global shares mostly drifted higher Monday as investors fretted over whether the United States government will be able to reach a deal to avoid a federal default. France’s CAC 40 inched down less than 0.1 percent in early trading to 7,489.72, while Germany’s DAX slipped 0.1 percent to 16,261.45. Britain’s FTSE 100 gained 0.3 percent…
Mortgage Arrears and Repossessions Jump as Homeowners Struggle Amid Soaring Interest Rates
May 19, 2023
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The number of homeowners in arrears and properties being repossessed jumped in the first quarter of this year, as mortgage costs soared amid repeated interest rate hikes. According to figures from trade body UK Finance, some 750 homeowner mortgaged properties were taken into possession in the first quarter of 2023, a 50 percent increase from…
Stocks Lifted to Month High by US Debt Ceiling Hopes
May 19, 2023
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LONDON/SINGAPORE—Global shares hit a one-month high on Friday as markets reflected increased hopes of a U.S. debt ceiling deal that could avoid a potentially calamitous default. Europe’s STOXX 600 was up 0.7 percent, while e-mini futures for the S&P 500 rose 0.2 percent, following a 0.9 percent gain for the benchmark Wall Street index overnight….
Survey Reveals 61 Percent of Americans Struggling Financially Due to Recent Price Hikes
Recent surveys have indicated a growing concern among U.S. citizens about the financial impact of inflation. According to a recent poll, 61 percent of Americans are now stating that the rising costs have been causing financial difficulties, a notable jump of six percent from the previous survey carried out in November 2022. This figure is…
Walmart Boosts Outlook After a Strong 1st Quarter and Rising Online Sales
NEW YORK—Walmart reported a strong first quarter as the nation’s largest retailer continues to draw budget conscious consumers in a challenging economic environment. The company, based in Bentonville, Arkansas, offered an upbeat outlook for the year. Walmart reported net income of $1.63 billion, or 62 cents per share for the three month period ended April…
Stock Market Today: Global Stocks, Wall Street Futures Rise on Hopes for US Debt Deal
BEIJING—Global stock markets and Wall Street futures rose Thursday on hopes U.S. political leaders can reach agreement to avoid a potentially disastrous default on government debt. London and Paris opened higher. Shanghai, Tokyo, and Hong Kong advanced. Oil prices edged lower. “Markets are now fully pricing an in-time resolution of the crisis,” said Clifford Bennett…
Retail Sales Come in Below Expectations After 2 Months of Declines
U.S. retail sales rose slightly in April but fell below expectations after two months of declines. Retail sales are primarily goods and are not adjusted for inflation, while changes in the category are widely followed as an indicator of consumer spending. Last month’s overall retail sales rose 0.4 percent last month at $686.1 billion, instead…
Wages Growth Hits Decade High, Still Far Below Inflation
Annual wage growth increased by almost a full percent during beginning of the year as the Australian job market remains tight. The Australian Bureau of Statistics (ABS) seasonally adjusted wage price index rose 0.8 percent in the March quarter and 3.7 percent over the year. This is an increase from the 3.4 percent annual wage…
Home Depot Cuts Forecasts, Signals Weakness Ahead for Big US Retailers
Home Depot Inc. on Tuesday cut its annual sales forecast and projected a steeper-than-expected decline in profit, stoking fears about inflation-wary consumers trimming discretionary spending as a big earnings week for U.S. retailers rolls out. Shares of the largest U.S. home improvement chain, which also blamed a wet start to Spring and falling lumber prices…
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