There was little change on Wall Street after positive producer price data kept the possibility of a smaller 25 basis point interest rate cut by the US Federal Reserve on the table, while shares in vaccine maker Moderna slumped following a pessimistic sales forecast. The producer price index (PPI) for final demand rose 0.2 percent … Read more
U.S. employers' hiring increased slightly in August from a sluggish pace in July, and the unemployment rate fell for the first time since March, a sign that the labor market is cooling but remains stable. According to a nonfarm employment report released Friday by the U.S. Department of Labor, employers added 142,000 new jobs in … Read more
All three major U.S. stock indices closed slightly higher on a day that supported expectations of a rate cut in September.
According to the minutes of the last board meeting two weeks ago, the bank considered raising interest rates but concluded that “the arguments for leaving the key rate unchanged at this meeting were stronger.”
Australia's unemployment rate rose slightly to 4.2 percent, although nearly 60,000 people found jobs this month.
Australia's largest bank has just delivered some encouraging news for struggling mortgage holders.
The reality of Australia's rental crisis has been laid bare, with new figures showing more people choosing to live in shared flats or with relatives as rents continue to soar. The latest Commonwealth Bank Australia (CBA) economic report shows that rents are rising at their fastest rate in over a decade as demand for housing … Read more
From the market's perspective, the Fed is either able to avert a recession or it is doomed to repeat the mistakes of the recent past.