The Federal Reserve (Fed) paused its extended campaign against inflation this week, holding its benchmark interest rate steady and giving borrowers a breather after 11 hikes since March 2022. As expected, the Fed left its short-term lending benchmark at a target range of 5.25% to 5.50%, the level set at the previous meeting in July. […]
Market Moves of the Week Crude oil surged above the $90 per barrel mark for the first time since November 2022. Concerns around supply shortfalls heading into the last quarter of 2023 saw the commodity catch a strong bid, at Friday’s close Brent Crude was up 4.16% week-on-week, to close at $94.20 ($/bbl). Rising oil […]
In a shortened holiday week, U.S. stock markets closed with losses primarily due to an upward shift in the interest rate outlook, driven by positive economic signals. Apple, a significant component of the S&P 500, saw a decline, attributed to reports of Chinese government employees discontinuing iPhone usage and concerns regarding the upcoming iPhone 15. […]
Global markets faced a challenging August, characterized by mixed economic data, a persistently hawkish Federal Reserve, rising sovereign bond yields and worries over renewed weakness in the Chinese real estate sector. However this behaviour for markets at this time of the year isn't out of character. History tells us that August has been the second-worst performing month of the year […]
An increase in the number of job seekers caused the U.S. unemployment rate to rise in August, climbing from 3.5% to 3.8%. The collapse of a major trucking company resulted in the loss of 37,000 jobs in that industry, while the Hollywood writers' strike led to 17,000 people losing their jobs, as reported by the […]
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