Fidelity Top Stories
Unexpected weakness in US industrial production as business equipment output falls
Industrial output weakened noticeably at the tail-end of 2022 as production of business equipment fell sharply.
US homebuilder confidence may have hit bottom in December, NAHB says
Homebuilder confidence in the US may have hit bottom at the end of the previous year thanks to a "modest" decline in interest rates, a leading business lobby group said.
Antofagasta reports 10% fall in 2022 production
Chilean copper miner Antofagasta said output fell 10. 4% last year, mainly due to lower ore grades and a drought.
Empire State factory index drops sharply in January
Factory sector activity in the New York area fell sharply at the start of 2023, the results of a closely followed survey revealed.
Goldman Sachs posts weak Q4 due to drag from investment banking
Goldman Sachs posted weaker-than-expected profits and revenues for the last three months of 2022, due to the drag from investment banking as well as from its asset and wealth management arm.
Investors remain 'bearish', BofA fund manager survey shows
Humans remained bearish albeit a lot less so than in the last quarter of 2022, BofA's global fund manager survey for January showed.
Consumer confidence rises and inflation expectations drop in December, University of Michigan says
Consumer confidence in the US improved for a second month from a low base at the start of 2023, the results of a closely followed survey revealed.
Citigroup posts larger than expected decline in Q4 net income
Citi posted a drop in quarterly net income amid a jump in credit losses and as it built up the lender's provisions, although higher interest rates resulted in mid-single digit growth on the topline.
US CPI slips a tad more than expected in December, core rate as expected
The cost of living in the US slipped by a tad more than expected last month.
Fed's Harker favours shift towards 25bp rate hikes
A top US central bank official joined the camp of those calling for a further downshift in the pace of interest rate hikes to 25 basis points per meeting.
US jobless claims hit lowest level in more than three months
Americans filed unemployment claims at a decelerated clip in the seven days ended 7 January, hitting their lowest level in more than three months.
Mitchells & Butlers Q1 sales rise but warns of tough environment
Pub group Mitchells and Butlers reported a rise in first-quarter sales as customers enjoyed their first Christmas free of Covid restrictions, but warned of a challenging outlook for the hospitality sector.
US small business optimism slips more than expected in December, NFIB says
Small business confidence in the US fell back to its June lows at the end of 2022, alongside declines in gauges for price pressures and hiring, the results of a survey showed, although salary pressure remained.
Fed's Powell says restoring price stability may require unpopular policies
The US central bank will steer clear from taking on responsibilities around designing or supervising more climate-friendly policies, absent a mandate from lawmakers, its head said.
JP Morgan says start taking profits, Europe to outperform, stays long commodity equities
Equity strategists at JP Morgan told clients that now might be a good time to start taking profits on the EuroStoxx 50, going on to explain that some of the main drivers of European outperformance were now much more priced in, even if "not by any means exhausted".
Government set to cut help for businesses against energy bills
Downing Street was set to slash help for businesses against their energy bills.
US services sector shrinks by surprise in December, ISM says
Services sector activity in the US shrank unexpectedly at the end of 2022, the results of a closely followed survey revealed.
Beijing in talks for license rights on Pfizer's Paxlovid
The People's Republic of China is negotiating license rights for Pfizer's antiviral drug Paxlovid.
US non-farm payrolls rise by 223,000 in December
Hiring in the US was stronger than expected, rising by 223,000 and unemployment surprised to the downside too.
Putin calls 36-hour unilateral cease-fire for Orthodox Christmas
Russia President Vladimir Putin announced a unilateral 36-hour ceasefire around the 7 January Orthodox Christian celebrations which was quickly rejected by authorities in Kyiv.