US Consumer Confidence Slumps to Lowest Level Since July 2022
Conference Board index fell for a third month in April Expectations for more available jobs fell to lowest since 2011 US consumer confidence fell in April to the lowest since mid-2022 as Americans’ views of the labor market and their outlook for the economy...
Japan’s Factory Output Records Weakest Quarter Since Pandemic
Quarterly decline in industrial output steepest since 2020 Economists see slight economic contraction in January-March Japan’s factory output rebounded in March from a dismal start to the year, with the quarterly figure registering the weakest performance since the...
Sodium Batteries From Michigan to Challenge Lithium’s Grip
Natron Energy’s batteries boast cheap materials, fast response. Modern life runs on lithium-ion batteries, powering smartphones, laptops and electric cars alike. But as dominant as they’ve become, there are other ways to build a battery. Natron Energy Inc. will unveil...
Stocks Trade for 390 Minutes a Day. Increasingly, Only 10 Matter
A third of all S&P 500 trades now occur just before the close European research points to price distortion, liquidity issues The regular market for US equities runs for 390 minutes on a standard trading day. But at the rate things are going, eventually the last 10...
Japan’s Oldest VC Firm Eyes 200% Gain as Unicorns Proliferate
Jafco sees startups staying private longer to nab big IPOs Tokyo encouraging public to invest more in equities, startups Japan’s oldest venture capital firm is closing in on a target to triple the value of its investment, a sign of resurgence in the country’s startup...
It’s time to talk about the ‘dirty word’ on Wall Street as ‘whiffs of stagflation’ intrude on markets, chief strategist says
There's been a steady drumbeat of concerns about stagflation as recent data showed economic growth slowing sharply and inflation picking up. Now, Wall Street can't ignore that unpleasant subject as its presence is starting to be felt on financial markets, especially...
China Industrial Profits Drop as Demand From Overseas Stalls
Earnings fell on weakening exports and fading momentum Year-to-date profits rose 4.3%, slowing from rebound China’s industrial companies’ profits fell in March as exports flagged and deflationary pressures persisted, suggesting the economy’s stronger-than-expected...
Squint Your Eyes and US Inflation Data Actually Looks Worse
Core PCE picked up in March when drawn to two decimal places Compounding effects are large for year-over-year figures To the naked eye, a key US inflation metric held steady in March. But look a little closer at two or three decimal places and you’ll see that it...
New inflation reading reinforces Fed’s higher-for-longer stance
Another hot inflation reading reinforces that any near-term interest rate cuts are less likely as the Federal Reserve shifts to a higher-for-longer stance. The Fed's preferred inflation measure — the "core" Personal Consumption Expenditures index that excludes...
US Consumer Sentiment Falls as Inflation Expectations Climb
Short-term inflation views rose to 3.2% in April from 2.9% University of Michigan sentiment index at 77.2 vs 79.4 US consumer sentiment fell in April on dimmer views of personal finances and the economy as inflation expectations climbed. The University of Michigan’s...
Central Banks Will Probably Cut Only Half as Much as They Hiked
Higher-for-longer rate settings reshape market outlook Guggenheim favors corporate bonds, Standard likes German bunds Major advanced economy central banks are likely to take back less than half of the interest-rate hikes they rammed through over the past two years —...
Xi Warns Blinken Against ‘Vicious Competition’ Between US, China
China’s Wang Yi sees rising ‘negative factors’ in relationship Blinken warns Asian nation on supporting Russia’s war machine President Xi Jinping warned America’s top diplomat that the US shouldn’t target or oppose China, as the world’s largest economies wrapped two...
Rising Copper Demand Spurs Search for Alternative Climate Solutions
BHP’s bid for Anglo American shows that copper will be key for the energy transition as the world electrifies. But more needs to be done to ensure there’s ample supply. The metals industry is abuzz with a possible £31 billion ($39 billion) takeover of Anglo American...
Rapidly Weakening Yen Threatens Higher Power Bills in Japan
Yen’s decline is pushing fossil fuel import costs higher Power bills already set to rise as government curbs subsidies The yen’s relentless decline risks pushing power prices higher for Japan’s households and businesses. Japan buys its fuel in US dollars, and the weak...
