LONDON—The Bank of England kept interest rates on hold on Thursday, dashing investors’ expectations for a hike that would have made it the first of the world’s big central banks to raise borrowing costs after the COVID-19 pandemic. The BoE kept alive the prospect of a move soon, saying it would probably have to raise…
Weekly Jobless Claims Dip to New Pandemic-Era Low
The number of American workers filing for unemployment benefits fell last week to a new pandemic-era low, signaling continued labor market improvement. First-time filings for unemployment insurance—a proxy for layoffs—came in at 269,000 for the week ending Oct. 30, the Labor Department said in a statement (pdf). The consensus forecast was for 277,000 claims. “There’s good…
Eversource Energy Company Warns of 15 Percent Rise in Winter Heating Bills
Eversource Energy on Wednesday warned that customers could see natural gas heating prices rise 15 percent, costing an average of $30 a month more compared with last year. In the company’s third-quarter 2021 earnings call on Wednesday, Philip J. Lembo, executive vice president and chief financial officer, cited rising prices post the COVID-19 pandemic, forecasts of a cold winter,…
Wage Growth for Job Switchers Increases 6.6 Percent in a Year, Outpacing Jobholders: Report
Third-quarter wage growth in the United States increased 3.3 percent, in line with growth in the months before the COVID-19 pandemic, while wage growth for job switchers increased 6.6 percent since September 2020 as employers sought to attract new workers with competitive compensation, according to the ADP Research Institute Workforce Vitality Report (WVR) released Oct. 27. Employment…
Wages for Job Switchers Increase 6.6 Percent, Outpacing US Pay Growth: Report
Third-quarter wages in the United States increased 3.3 percent, in line with growth in the months before the COVID-19 pandemic, while job switchers’ pay is up 6.6 percent since September 2020, as employers sought to attract new workers with competitive compensation, according to the ADP Research Institute Workforce Vitality Report (WVR) released Oct. 27. Employment growth also…
Euro Zone Producer Prices Make Record Jump in September: Eurostat
BRUSSELS—Euro zone producer prices jumped in September more than expected, driven by skyrocketing energy costs, recording their highest increase on record in a new sign of strong inflationary pressures in the bloc, public data showed on Thursday. The European Union’s statistics office Eurostat estimated that prices at factory gates in the 19 countries sharing the…
Euro Zone Business Growth Slipped to Six-Month Low in October as Price Pressures Soared
BENGALURU/LONDON—Euro zone business growth slipped to a six-month low in October as supply chain bottlenecks and logistical issues related to the COVID-19 pandemic pushed input prices to rise at the fastest rate in over two decades, a survey showed. Government restrictions are being lifted in the currency bloc but shortages of raw materials in the…
Big Tech, Chipmakers Power S&P 500, Nasdaq to Record Highs
November 4, 2021
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The S&P 500 and the Nasdaq hit record highs on Thursday on stellar earnings reports, with investors looking past the Federal Reserve’s asset tapering plan as borrowing costs remain low. The Dow slipped from an all-time closing high hit on Wednesday, dragged down by big banks JPMorgan Chase & Co. and Goldman Sachs Group which…
S&P, Nasdaq Futures Scale New Heights on Earnings Boost
November 4, 2021
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The S&P 500 and Nasdaq futures were at record highs on Thursday, propped up by a slew of stellar earnings reports and as investors shrugged off the Federal Reserve’s first steps to begin paring its pandemic-era support. Shares of Qualcomm Inc. jumped 8.1 percent in pre-market trade after the chipmaker forecast better-than-expected profit and revenue…
Food Prices Vault to Highest Level in a Decade
Food prices across the world have risen to their highest levels in a decade on the back of tightening supply conditions coupled with robust demand, according to the Food and Agriculture Organization of the United Nations (FAO). The FAO’s food price index, which measures world food commodity prices, surged 31.3 percent in the 12 months…
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