Market Analysis

US Producer Prices Rise, Risking Pressure in Fed’s Favored Gauge
  • November 14, 2024

US Producer Prices Rise, Risking Pressure in Fed’s Favored Gauge

(Bloomberg) -- US producer prices picked up in October, fueled in part by gains in portfolio management costs and other categories that feed into the Federal Reserve’s preferred inflation gauge.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceNYC Congestion Pricing Plan With $9 Toll to Start in JanuaryThe Urban-Rural Divide Over

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US wholesale inflation picks up slightly in sign that some price pressures remain elevated
  • November 14, 2024

US wholesale inflation picks up slightly in sign that some price pressures remain elevated

Wholesale prices in the United States rose last month, remaining low but suggesting that the American economy has yet to completely vanquish inflationary pressure. Thursday's report from the Labor Department showed that its producer price index — which tracks inflation before it hits consumers — rose 0.2% from September to October, up from a 0.1% gain the month before. Compared with a year earlier, wholesale prices were up 2.4%, accelerating from a year-over-year gain of 1.9% in September.

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US weekly jobless claims fall; unemployment rolls shrink
  • November 14, 2024

US weekly jobless claims fall; unemployment rolls shrink

The number of Americans filing new applications for unemployment benefits fell last week, suggesting the labor market continued to chug along and that the abrupt slowdown in job growth in October was an aberration. Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 217,000 for the week ended Nov. 9, the Labor Department said on Thursday. Claims surged in early October amid distortions from Hurricanes Helene and Milton as a well as a strike by factory workers at Boeing, but layoffs have remained historically low, which is underpinning the economy.

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Kugler Says Fed Must Focus on Both Inflation and Jobs Goals
  • November 14, 2024

Kugler Says Fed Must Focus on Both Inflation and Jobs Goals

(Bloomberg) -- Federal Reserve Governor Adriana Kugler said policymakers must keep their focus on both the central bank’s inflation and employment goals, pointing to a cooling labor market and slower progress toward the Fed’s 2% inflation target. Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway

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JD’s Results Fail to Impress as Chinese Economic Fears Persist
  • November 14, 2024

JD’s Results Fail to Impress as Chinese Economic Fears Persist

(Bloomberg) -- JD.com Inc.’s quarterly revenue rose 5.1%, a moderate expansion that suggests Chinese consumers are only cautiously spending again as Beijing tries to revitalize the economy.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway Expansion and EmissionsNYC Congestion Pricing Plan With $

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Bitcoin Briefly Tops $93,000 on Trump Agenda, Fed Policy Outlook
  • November 14, 2024

Bitcoin Briefly Tops $93,000 on Trump Agenda, Fed Policy Outlook

(Bloomberg) -- Bitcoin spiked above $93,000 for a short period as expectations of further interest-rate reductions by the Federal Reserve added to the impetus from President-elect Donald Trump’s pro-crypto stance.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway Expansion and EmissionsNYC Conges

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Top Federal Reserve official defends central bank's independence in wake of Trump win
  • November 14, 2024

Top Federal Reserve official defends central bank's independence in wake of Trump win

A Federal Reserve official gave a lengthy defense of the central bank's political independence Thursday, just days after former President Donald Trump, an outspoken Fed critic, won re-election. “It has been widely recognized — and is a finding of economic research — that central bank independence is fundamental to achieving good policy and good economic outcomes,” Adriana Kugler, one of the seven members of the Fed's governing board, said in prepared remarks for an economic conference in Montevideo, Uruguay. Kugler added that the research in particular finds that greater independence for central banks in advanced economies is related to lower inflation.

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