Corporate news, financial markets, and economic trends
Donald Trump was going to continue loudly advocating protectionist trade policies in 2024 and demand more control over the Federal Reserve. His strategy has been primarily based on large tariffs on a broad array of imports, especially China. The rationale for greater tariffs in the case of Trump is that these would protect manufacturing in…
Asian shares have posted gains on Tuesday, mainly due to the positive direction Wall Street took, boosting the sentiments of investors. Boosting US equities is optimistic corporate earnings along with growing expectations that the Federal Reserve will cut rates next month, less aggressively than initially thought. Nikkei 225 had gone up 1%, hitting a three-week…
The Boeing strike has intensified, and thus, U.S. Acting Labor Secretary Julie Su has entered the ongoing affair between Boeing and International Association of Machinists and Aerospace Workers (IAM) to a conciliatory end. Su visited Seattle, the first in-person intervention, as the strike, now reaching five weeks, has frozen Boeing’s activities, with 33,000 workers joining…
Boeing plans to shed about 17,000 jobs, or 10 percent of its global workforce, as the plane manufacturer battles rising losses from a strike by 33,000 employees. The walkout forced Boeing to halt production of the best-selling 737 MAX and 777 models, though it has estimated it is losing $1 billion a month. It is…
JPMorgan Chase shares gained 5% after the bank reported third-quarter earnings that had analysts cheering, particularly from net interest income, which was much higher than expected. The bank recorded a surprise increase of 3% in NII to $23.4 billion across fears that low interest rates will squeeze its margins. This performance helped boost the stock…
The minutes of the Federal Reserve meeting of September 2024 reflected a mixed opinion on the rate cut size. Some members of the Federal Open Market Committee wanted just a moderate reduction by 25 basis points, but the central bank was voting for a 50 basis point cut. The biggest concern of those who advocated…
Japan’s wholesale inflation accelerated significantly in September 2024, despite slacking eased cost pressures from imported goods following a rebound in the yen. This dynamic poses a challenging situation for Japan to be in while battling inflationary pressures that are driven both by domestic and global causes. Inflationary Pressures and Import Costs The corporate goods price…
Oil prices steadied as a sharp drop on talks of a possible ceasefire between Israel and Hezbollah spooked global markets. It would be right to state that the proper interpretation lies in the fact that Brent crude futures gained 11 cents at $77.29 a barrel and U.S. West Texas Intermediate advanced 3 cents at $73.60…
Stocks in mainland China slid yesterday, October 9, 2024, amid growing investor skepticism about the efficacy of stimulus plans from Beijing. The Shanghai Composite Index slid 5.3%, and the CSI 300 Index plummeted 5.8%, for that matter, thus closing its ten-day rally streak. This turning has been mainly because the Chinese government was not able…
Japan’s economy has faced plenty of challenges in 2024. Still, the last reports reveal that real wages and household spending are falling. Though it seems to be a sign of economic weakness, it is still going to prove to be but a small, short-term hitch on the way to further tightening by the BOJ. Household…
