Page 6 - Us Economy

Senator Warren worries that Fed will tip US economy into recession

The US central bank's chief warned on Friday that Americans were headed for a painful period of slow economic growth and possibly rising joblessness as the Fed raises interest rates to fight inflation

Oil prices dip after US Fed chair Powell warns of economic pain ahead

Brent crude futures fell 1 cent to $99.33 a barrel by 1:13 p.m. EDT (1713 GMT). U.S. West Texas Intermediate (WTI) crude futures fell 33 cents to $92.19 a barrel.

Stocks slide, dollar cuts losses as Fed's Powell warns of economic pain

"Reducing inflation is likely to require a sustained period of below-trend growth. Moreover, there will very likely be some softening of labor market conditions," Powell said.

Brent crude anchored above $100 a barrel, heading for weekly gain

Brent crude futures climbed $1.53, or 1.54%, to $100.87 a barrel by 1051 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.20 cents, or 1.3%, to $93.72.

US economy contracts in second quarter; underlying data show no recession

Second-quarter GDP contraction revised to 0.6% from 0.9%; gross domestic income rises at 1.4% rate in Q2; average of GDP and GDI climbs at 0.4% pace; weekly jobless claims drop 2,000 to 243,000

Biden student loan forgiveness impacts millions, raises inflation questions

Canceling the debt will free up hundreds of billions of dollars for new consumer spending that could be aimed at homebuying, according to economists

Dollar, treasury yields slip as US data suggests less hawkish Fed

Gold snapped a six-session losing streak while Wall Street was little changed on hopes the Fed will turn dovish

Markets can hit highs only after inflation peaks abroad: Taher Badshah

'The key risk for the market at this juncture, especially after this strong comeback, is the resurgence of the known risks of recent times, namely the rebound of inflation and geopolitical tensions'

Global share trade mixed on optimism about economies of US, China

Global shares were mixed Wednesday as markets looked to strong economic signs out of the US and China as drivers of growth. European shares slid in early trading, while benchmarks finished higher in Japan, China and Australia. Shares fell in South Korea. France's CAC 40 fell 0.3% to 6,570.14 in early trading, while Germany's DAX slipped 0.7% to 13,812.17. Britain's FTSE 100 shed 0.3% to 7,513.18. US shares were set to drift lower with Dow futures down 0.4% at 33,995.0. S&P 500 futures fell 0.6% to 4,284.25. Analysts warned major risks remain, such as surging COVID-19 cases in some countries in Asia, along with worries about global inflation and China's policies to curb infections. Expectations of economic growth in China and the US will likely remain key to gauging recession fears. China's zero-COVID' policy is still an important headwind for global growth, said Anderson Alves at ActivTrades. Japan's benchmark Nikkei 225 added 1.2% to finish at 29,222.77. Australia's S&P/ASX ..

Wall Street Week Ahead: Soft landing hopes for US economy brighten outlook

While last week's strong jobs report allayed fears of recession, inflation numbers this week showed the largest month-on-month deceleration of consumer price increases since 1973

US weekly jobless claims rise to 262,000, highest since Nov 2021

Initial jobless claims in the US last week rose to 262,000, hitting a new high since November 2021, the US Labour Department reported

US inflation will likely stay high in coming months even as gas prices fall

The forecast by economists, if it proves correct, would raise hopes that inflation might have peaked and that the run of punishingly higher prices is beginning to ease slightly

Joe Biden signs $280-billion CHIPS act in bid to boost US over China

The future of the chip industry is going to be made in America, Biden said, referring to the diminutive devices that power everything from smartphones to computers to automobiles.

Joe Biden to sign $280-bn CHIPS act in bid to boost US over China

We are going to invest it in America, Biden said on Friday. We're going to make it in America. We're going to win the economic competition of the 21st century in America.

Oil prices edge up as strong economic data feeds hopes for demand

Brent crude futures were up 93 cents, or 0.9%, at $95.85 a barrel by 11:20 a.m. ET (1520 GMT). U.S. West Texas Intermediate crude was at $89.68 a barrel, up 67 cents, or 0.8%.

Rupee falls as strong US jobs data rekindles fear of aggressive Fed hikes

The Federal Reserve has already raised interest rates by 225 basis points since March 2020

'Sizzling' US jobs data for July makes case for bigger Fed Rate increases

US employers added 528,000 jobs last month, more than all estimates, the unemployment rate fell to a five-decade low of 3.5%, and wage growth accelerated

US job growth beats expectations; unemployment rate declines 3.5%

Data for June was revised higher to show 398,000 jobs created instead of the previously reported 372,000.

Dollar edges higher as investors turn attention to key US jobs data report

The U.S. dollar index, which measures the greenback against a basket of currencies, was up 0.22% to 105.93, after sliding 0.68% on Thursday, the largest fall since July 19.

Oil prices slip as weak manufacturing data stokes recession fears

Brent crude futures fell 29 cents to $99.74 a barrel by 0002 GMT, with WTI crude futures down 22 cents at $93.67 a barrel