Tag Archives: economic

U.S. stocks lost their footing Wednesday after economic data showed higher-than-expected job openings and a contraction in manufacturing activity. Investors also await minutes from the central bank’s December policy meeting for clues on its next rate decision. The S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) hovered around the flatline as of 10:35 a.m. ET, while the technology-heavy Nasdaq Composite (^IXIC) dropped 0.3%. The latest Job Openings and Labor Turnover Survey, or JOLTS, Source link

U.S. stock futures sunk Monday ahead of another wave of economic data out this week. Futures tied to the S&P 500 (^GSPC) moved lower by 0.5% in premarket trading, while futures on the Dow Jones Industrial Average (^DJI) ticked down by 0.4%. The technology-heavy Nasdaq Composite (^IXIC) fell by 0.4%. Stocks finished mixed on Friday as investors digested hotter-than-expected jobs data. The strong job gains and robust wage growth are the opposite of what the Federal Reserve would like to see in… Source link

China’s strict zero-COVID policy complicated the global economic recovery. The country has tried to eliminate all cases of COVID-19, but three years later, frequent lockdowns and strict quarantine guidelines have led to food shortages, delayed health care, and mental health struggles. The ongoing frustrations among citizens reached a boiling point on Nov. 24, when protests erupted after a fire broke out in an apartment building in the city of Urumqi, killing 10 people during the city’s… Source link

Airbnb (ABNB) is betting that a continued economic downturn will provide a tailwind for the travel company to expand its pool of hosts, looking to earn some extra income. In fact, CEO Brian Chesky said he’s already seeing a shift in behavior on the platform, reminiscent of the Great Recession when the company was first founded. “I think this is going to be in some ways similar to 2008,” said Chesky, speaking to Yahoo Finance Live (video above). “A lot of people that weren’t considering… Source link

This post was originally published on TKer.co Stocks fell last week, with the S&P 500 declining by 3.3%. The index is now up 5.4% from its October 12 closing low of 3,577.03 and down 21.3% from its January 3 closing high of 4,796.56. The market moves came amid confirmation that the labor market remains very tight and a reiteration from the Federal Reserve that it has a “ways to go” before the central bank could declare victory in its fight with inflation. All of last week’s developments… Source link

A cloudy economic outlook isn’t fazing luxury watchmakers laser-focused on the American consumer. It’s why Carl F. Bucherer, a Swiss luxury watch manufacturer, is refocusing towards the U.S. market, particularly given the continued uncertainty in Asia, largely driven by COVID lockdowns in China. Bucherer recently released a line of colorful chronographs that retail for roughly $7,000. “The U.S. is on fire again,” Ron Stoll, president of Carl F. Bucherer North America, told Yahoo Finance at… Source link

Economic slowdowns around the world hasn’t yet led to beer sales going flat for mega-brewer AB-InBev. “I think that demand is holding,” AB-InBev CEO Michel Doukeris said on Yahoo Finance Live (video above). “Beer as a category is very resilient.” AB-InBev produces everything from good old affordable Bud Light to more premium priced non-beers such as CutWater. Doukeris says not only haven’t beer sales waned this year, consumers don’t appear to be trading down to cheaper alternatives. “Not yet —… Source link

Target CEO Brian Cornell says the retailer’s data predicts shoppers will spend solidly during the all-important holiday season despite “unusual” economic times in the U.S. “We continue to see a healthy guest shopping in our stores and shopping online,” Cornell said at the Yahoo Finance All Markets Summit on Monday. “We’ll see how they react throughout the holiday season, but when we talk to them they continue to say they want to celebrate the holidays.” Shares of the discount retailer rose 3%… Source link

Chinese President Xi Jinping is expected to tighten his grip on power when China’s National Party Congress convenes Sunday. A spectacle held once every five years, the 20th Party Congress marks the culmination of Xi’s ascent in many ways, with the leader poised to secure a third five-year term, making him arguably the most powerful ruler in China since Mao Zedong. But China’s sputtering economy threatens to overshadow Xi’s coronation, with the country in the midst of its slowest… Source link

U.S. stock futures struggled for direction Thursday morning as investors pored over a batch of economic data. Futures tied to the benchmark S&P 500 slip 0.1%, while futures on the Dow Jones Industrial Average hovered ticked up by the same margin. Contracts on the technology-heavy Nasdaq Composite fell 0.3%. The moves come after a modest rebound on Wednesday from the stock market’s worst day since June 2020. Initial jobless claims fell for a fifth-straight week to the lowest reading since May…. Source link