Wall St posts third straight quarterly loss as inflation weighs and recession looms

S&P 500 posts biggest September percentage decline in 20 years All three major U.S. stock indexes post three-quarter declines Core inflation data is warmer than expected Indices down: Dow 1.71%, S&P 1.51%, Nasdaq 1.51% NEW YORK, Sept 30 (Reuters) – The S&P 500 closed its biggest September decline in two decades on Friday, skidding across … Read more

China’s factory and services surveys suggest the economy is struggling to rebound

China’s official September manufacturing PMI above forecast Private survey shows factory activity has contracted sharply Growth in services sector activity slowed in September – official survey COVID curbs, easing foreign demand, weak real estate weigh BEIJING, Sept 30 (Reuters) – China’s manufacturing activity slowed growth in September, but slowing service sector growth and a pessimistic … Read more

US weekly jobless claims hit five-month low; darkening economic picture

Weekly jobless claims fall from 16,000 to 193,000 Continuing claims fall by 29,000 to 1.347 million Unrevised second-quarter GDP contraction at a rate of 0.6% Gross domestic income revised down to GDP WASHINGTON, Sept 29 (Reuters) – The number of Americans filing new claims for unemployment benefits fell to its lowest level in five months … Read more

UK’s Truss sticks to policy as she breaks silence after market rout

Truss says he won’t change course on UK politics Bond markets calmer after BoE intervention Investors warn of loss of trust in government LONDON, Sept 29 (Reuters) – British Prime Minister Liz Truss said she would stick to her controversial plan to boost economic growth as she broke her silence on Thursday after nearly a … Read more

Bank of England moves to calm bond market rout after tax cut storm

BoE starts buying bonds, delays gilt sales IMF ‘does not recommend’ policies like UK growth plan Fin min Kwarteng and PM Truss criticized for their politics The British pound is trading down 0.7% at $1.065 Kwarteng meets bank bosses again LONDON, Sept 28 (Reuters) – The Bank of England sought to quell the firestorm in … Read more

Pound slides after BoE bond buying, dollar hits 20-year high

NEW YORK/LONDON, Sept 28 (Reuters) – The pound fell against the dollar on Wednesday before paring losses after the Bank of England (BOE) said it would intervene to support the gilt market, and the The dollar index hit a new 20 Trading at a year high was volatile. The BOE said it would buy as … Read more

Dollar pauses even as rate worries reduce risk appetite

NEW YORK/LONDON, Sept 27 (Reuters) – The dollar made little headway in a choppy session on Tuesday as appetite for riskier bets was still weak as Federal Reserve policymakers talked news interest rate hikes. The greenback was up against the euro but lost ground against the pound and the Japanese yen, as all eyes were … Read more

S&P 500 falls to two-year low, bear market rally dies out

Sep 27 (Reuters) – The S&P 500 (.SPX) fell to its lowest level in nearly two years on Tuesday on concerns over the Federal Reserve’s super-aggressive policy tightening, trading below its June low and letting investors gauge how many more shares would need to fall before leveling off. Stocks have been under pressure since late … Read more

Oil prices drop to 9-month lows as dollar strengthens

The pattern of oil barrels is seen in front of the rising stock market chart in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration Join now for FREE unlimited access to Reuters.com Register Sept 26 (Reuters) – Oil prices hit their lowest level in nine months in choppy trade on Monday, under pressure from a strengthening … Read more