China signals slight easing of Covid policy, with no major changes

Customers dine at a McDonald’s in Guangzhou on December 1, 2022, a day after the city eased Covid restrictions on restaurant operations. Yin Hon Chow | CNBC BEIJING – A flurry of changes around China’s Covid controls over the past 24 hours has raised hopes that wider easing is on the way. Local media reports … Read more

Fed Chair Jerome Powell says smaller rate hikes could come in December

WASHINGTON — Federal Reserve Chairman Jerome Powell confirmed Wednesday that smaller rate hikes are likely ahead, even as he sees progress in the fight against inflation as largely inadequate. Echoing recent statements by other central bank officials and comments at the Fed’s November meeting, Powell said he sees the central bank in a position to … Read more

South Korea GDP, Caixin Manufacturing PMI, Japan Consumer Confidence

CNBC Pro: Forget Amazon. This is what top tech investor Paul Meeks is buying Investor confidence in the tech sector has been damaged this year by a flight to safety, but top tech investor Paul Meeks said he is now “more optimistic” about the sector than he has been in recent months, although he remains … Read more

Dow loses 200 points as investors process mixed economic signals awaiting Powell’s speech

The Dow Jones Industrial Average fell Wednesday as Wall Street waded through new economic data and awaited an afternoon speech on the economy from Federal Reserve Chairman Jerome Powell. The 30-stock index lost 253 points, or 0.8%. The S&P 500 was down 0.4%, while the Nasdaq Composite was down 0.1%, despite being up for most … Read more

Private hiring rose just 127,000 jobs in November, well below estimate, ADP reports

Private hiring slowed sharply in November, signaling that the historically tight labor market may be losing some momentum, according to a report Wednesday from payroll processing company ADP. Companies added just 127,000 holdings this month, a sharp drop from the 239,000 the company reported for October and well below the Dow Jones estimate of 190,000. … Read more

S&P 500 futures are flat as Wall Street awaits Powell’s speech on economics

S&P 500 futures were flat Wednesday as Wall Street awaits an afternoon speech on the economy from Federal Reserve Chairman Jerome Powell. S&P 500 futures were essentially little changed, with the benchmark looking for a three-day losing streak. Futures tied to the Dow Jones Industrial Average lost 18 points. Nasdaq 100 futures rose 0.1%. Traders … Read more

Temporary inflation talk is back. But economists say higher prices are here to stay

Prices of fruits and vegetables are seen at a store in Brooklyn, New York City, March 29, 2022. Andrew Kelly | Reuters Global markets have been encouraged in recent weeks by data suggesting inflation may have peaked, but economists are warning of the return of the “transient” inflation narrative. Stocks rallied as the October US … Read more

China’s factory activity data falls short of expectations; Asia-Pacific markets mixed

Industrial production figures in South Korea and Japan are worse than expected Industrial production in South Korea and Japan fell each in the month of October. Japan’s preliminary industrial production for October fell 2.6% compared to a month ago, more than expected from a 1.5% decline, according to a Reuters poll. The reading marks the … Read more

Shares are down for a second day on Tuesday as traders look ahead to Powell speech, Jobs reported later in the week

The Dow Jones Industrial Average fell Tuesday as traders struggled to recover from the sharp losses they suffered during the previous session and looked ahead to more economic data. The 30-stock index lost 43 points, or 0.1%. The Nasdaq Composite fell 0.4%, while the S&P 500 lost 0.3%. The major averages suffered heavy losses on … Read more

Equity futures rise after major averages fall on China’s Covid turmoil

Traders work on the floor of the New York Stock Exchange (NYSE), September 6, 2022. Brendan McDermid | Reuters US stock futures were higher Tuesday morning after major averages came under pressure from Covid protests in China, and as investors expected more economic data and commentary from Federal Reserve leaders this week. Dow Jones Industrial … Read more