Market Pulse - Usa
Fed's Mester sees Fed funds rate 'somewhat above' 4 per cent in early 2023
A top US central bank official made the case for raising short-term interest rates "somewhat above" 4. 0% in early 2023 and keeping them there.
US close: Stocks close weaker despite upbeat data
US stocks closed in negative territory on Tuesday, adding to the losses it recorded in the previous session, despite the release of a batch of better-than-expected economic data.
Fed's Williams sees rates remaining restrictive across 2023
A top US central bank official said that he expected interest rates to rise "somewhat above" 3. 5% and to remain at that level throughout 2023.
US job openings rise unexpectedly in July, but quits rate ticks lower
The number of job openings in the US increased a bit last month, even as hiring and the number of so-called 'quits' slipped.
Best Buy reports smaller-than-expected drop in Q2 LFL sales
Best Buy reported a near halving in profits for its fiscal second quarter amid a slump in sales, although the latter beat analysts' estimates in like-for-like terms.
US consumer confidence rises past forecasts in August, University of Michigan says
Consumer confidence in the US picked up more strongly than first thought in August, led by an improved outlook for the economy one-year ahead, the results of a closely-followed survey revealed.
Efforts to lower inflation likely to bring 'some pain', Fed's Powell says
Efforts to bring down inflation would likely cause "some pain" to the economy but not doing so would entail even greater pain, the head of the US central bank said.
US visible trade deficit sees sharp and unexpected narrowing in July
America's shortfall on trade in goods with the rest of the world narrowed sharply last month, amid a large and unexpected drop in purchases from overseas.
US personal income and spending growth slows more than expected in July, prices dip
Personal incomes and spending in the US grew more slowly than anticipated last month in nominal terms, while prices dipped unexpectedly.
US close: Wall Street rises ahead of Powell's speech
Wall Street indices closed in the green on Friday, after a top Federal Reserve official hinted at a possible pause in rate hikes towards the end of the year, and ahead of Jerome Powell’s Jackson Hole speech on Friday.
Fed's Harker wants to see rates above 3.4 per cent and then 'sit for a while'
A top US central bank official said on Thursday that he wanted monetary policy to move into restrictive territory with the Fed funds rate above 3. 4% and that interest rates would need to be kept at that level for a while.
US Q2 GDP revised slightly higher
The US economy shrank by less than previously estimated over the three months to June, revised data showed.
Fed's George unsure how high rates will need to go to tame inflation
The head of Federal Reserve Bank of Kansas City said the central bank had more work to do in order to tame inflation.
Weekly jobless claims in the US undershoot forecasts again
Jobless claims in the US receded by more than expected once more last week.
US pre-open: Modest gains for futures on news of Chinese stimulus, Jackson Hole ahead
Stock market futures are pointing higher after Beijing announced a one trillion yuan fiscal stimulus plan overnight.
US close: Dow snaps three-day losing streak
Wall Street’s main indices managed a positive finish on Wednesday with the Dow snapping its three-day losing streak, as investors looked ahead to the Fed’s Jackson Hole summit on Thursday.
US open: Stocks slightly higher as investors await Jackson Hole
Wall Street’s main market gauges were all tentatively higher in early trading on Wednesday, as investors sifted through the latest data on durable goods and housing sales.
US pending home sales fall by less than expected in July, NAR spies bottom
Pending home sales in the US fell by less than expected last month and contract signings may be close to a bottom, a leading business lobby group said.
US durable goods orders unchanged in July, but details stronger
New orders for goods made to last at least three years undershot economists' forecasts in July, in part as an expected surge in civilian aircraft orders failed to materialise, even as those for defence aircraft nearly halved.
Bed Bath & Beyond secures loan deal - reports
Ailing US home goods retailer Bed Bath & Beyond has secured a loan deal, it emerged on Wednesday, in a bid to secure its liquidity issues.