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Goldman Sachs says a second wave of coronavirus could make the Fed rethink negative interest rates Federal Reserve Chairman Jerome Powell on Wednesday reiterated that the central bank is not considering negative interest rates. A second wave of coronavirus that causes another “big setback” in the
New Zealand unveils record spending to stop massive job losses New Zealand unveiled a record NZ$50 billion ($30 billion) spending package on Thursday to revive an economy hit by the coronavirus pandemic, but warned it may not be enough to stop thousands from losing jobs and businesses shutting. The
Australia: Almost 600,000 people lost work in April Australia has suffered its single largest monthly fall in the number of people holding a job, with a record 594,000 drop in the number of workers during April. Figures released by the Australian Bureau of Statistics on Thursday showed the
UK Economy To Shrink 25-30% In Q2: NIESR The United Kingdom is set to witness a collapse in its gross domestic product in the second quarter due to the lockdown imposed to slow the spread of the coronavirus, or Covid-19, pandemic, the National Institute for Economic And Social Research predicted on
Traders reduce bets on negative U.S. rates after Powell says Fed not considering Traders of short-term U.S. interest-rate futures on Wednesday reduced bets the Federal Reserve will take the unprecedented step of pushing interest rates below zero after Fed Chair Jerome Powell said that negative
Fed Chair Powell: US economy faces 'longer-term concerns' Federal Reserve Chairman Jerome Powell said the central bank would continue to use its policy tools to mitigate the impact of the novel coronavirus on the U.S. economy, but warned that the length of the health crisis raises “longer-term
Eurozone Industrial Production Falls Sharply In March Eurozone industrial production decreased sharply in March, as several countries went into lockdown to slow the spread of the coronavirus, or Covid-19, pandemic, preliminary data from Eurostat showed on Wednesday. Industrial production decreased
U.K. GDP drops 2% in first quarter in worst fall since financial crisis U.K. GDP fell 2% in the first quarter, the Office for National Statistics said, which was the worst performance since the financial crisis in 2008. The 2% decline did however beat economist estimates for a 2.6% drop. "With the
New Zealand Expands QE, Maintains Key Rate New Zealand's central bank decided to expand its asset purchase programme to reduce the cost of borrowing as coronavirus, or Covid-19, pandemic is set to lower growth, employment and inflation. The Monetary Policy Committee of the Reserve Bank of New
U.S. Consumer Prices Decrease In Line With Estimates In April Consumer prices in the U.S. decreased in line with economist estimates in the month of April, according to a report released by the Labor Department on Tuesday. The Labor Department said its consumer price index slid by 0.8 percent in
BoE's Broadbent Says Negative Rates Possible After Considering Risks Bank of England is likely to consider more monetary easing in future after weighing the side-effects of negative interest rates, to help the UK economy recover from the historic shock dealt by the coronavirus, or Covid-19
Australia NAB Business Conditions Weaken In April Australia's business conditions weakened in April but confidence bounced back from March, survey results from National Australia Bank showed Tuesday. The business conditions index fell to -34 in April from -22 in March. Overall conditions were deeply
China Inflation Slows To 7-Month Low; Producer Prices Fall At Faster Pace China's consumer price inflation eased to a seven-month low in April and producer prices declined further reflecting weak domestic demand despite subsiding coronavirus pandemic, official data revealed Tuesday. Consumer price
Dow falls 150 points on reopening doubts, but big tech stocks are strong Stocks fell on Monday, giving back some of last week’s solid gains, amid jitters about reopening the economy too soon. The Dow Jones Industrial Average traded 150 points lower, or 0.6%. The S&P 500 dropped 0.3%. The Nasdaq
Dollar Strengthens at Start of Fresh Week Global cases of Covid-19 now exceed 4.2 million and have resulted in 284,156 confirmed deaths. A third of the cases have been found in the United States, but the push to reopen the country on a uneven and gradual basis has continuing momentum. Overnight
New Zealand ANZ Business Confidence Strengthens In May New Zealand business confidence improved strongly in May as the economy emerges from lockdown, a preliminary business outlook survey from ANZ showed Tuesday. The business confidence index surged 21 points to -45.6 in May from -66.6 in April. The
US May-June Unemployment Rate May Exceed 20% White House economic adviser Kevin Hassett expects the unemployment rate to climb past 20% due to the economic fallout from the coronavirus pandemic, predicting that May or June will be the high point for job losses. "Right now, looking across the U.S
With Economy So Bad, Why Are Stocks Up? People expect stocks to rise if the economy is improving and drop if it’s getting worse. But that idea is wrong. So rather than feel confused because stocks are going up as the economy plunges into Great Depression territory, I keep investing in stock index
Wall Street Week Ahead: retail sales, industrial production, evidence and expectations, and more A week packed with U.S. economic data is likely to provide investors with more evidence of the extent to which the coronavirus pandemic has hit growth, sharpening the debate on whether a rebound in
US stock market jumps, ignoring large increase in unemployment U.S. stock markets roared ahead on Friday, shrugging off the biggest rise in unemployment in U.S. history, as investors took the view that April's labor market report marks the worst of the pandemic's impact on markets. By 10:20 AM ET
April Employment Report: 20,500,000 Jobs Lost, 14.7% Unemployment Rate Total nonfarm payroll employment fell by 20.5 million in April, and the unemployment rate rose to 14.7 percent, the U.S. Bureau of Labor Statistics reported today. The changes in these measures reflect the effects of the
U.S., China strive to implement trade deal Top trade negotiators for the U.S. and China talked by phone overnight, pledging to create "governmental infrastructures necessary to make the phase one trade deal "a success." "In spite of the current global health emergency, both countries fully expect to
RBA Forecasts Double-Digit Contraction and Unemployment in First Half of the Year As revealed in the latest Statement of Monetary Policy (SMP), RBA sharply cut economic forecasts for this year. GDP is projected to record double-digit contraction in the first half of the year before recovery in 2021
Explainer: Why Friday's U.S. jobless figures won't capture the true state of the coronavirus economy The U.S. economy is expected to have shed 22 million jobs in April, tripling the nationwide unemployment rate to 16%, when new government data is published Friday morning. To put that into
China Exports Rise Unexpectedly In April China's exports grew unexpectedly in April despite global outbreak of coronavirus, or covid-19, data from the General Administration of Customs revealed Thursday. Exports grew 3.5 percent on a yearly basis, confounding expectations for a decline of 12.1
Australia Retail Sales Jump 8.5% In March Retail sales in Australia spiked a seasonally adjusted 8.5 percent on month in March, the Australian Bureau of Statistics said on Wednesday - coming in at A$30.110 billion. That6 beat expectations for an increase of 8.2 percent following the upwardly revised
U.S. Stocks Turning In Lackluster Performance Following Dismal Jobs Data Following the advance seen in the previous session, stocks have shown a lack of direction over the course of the trading day on Wednesday. The major averages have spent the day bouncing back and forth across the unchanged line
Oil Suddenly Crashes After Jobs Report It would appear no one told the machines that ADP would report a devastatingly ugly jobs print this morning... Oil started sliding earlier but the 'better than expected' ADP print actually seemed to spark a panic puke for some reason ahead of this morning's EIA
Fed’s James Bullard says the jobs report on Friday will be one of the worst ever St. Louis Federal Reserve President James Bullard said Wednesday that Friday’s jobs report, which will show how the U.S. unemployment changed in April, will likely be one of the worst in American history. “I’ve long
5G, AI Stocks To Watch: Microsoft Partner With 136% Growth Clears New Buy As the coronavirus stock market fights to keep its rebound going, top 5G and AI stocks to watch are at the forefront of a tech revolution. And chip designer and Microsoft (MSFT) partner Nvdia (NVDA) is helping to lead the