Deutsche Bank warns Trump tariffs could stop Jerome Powell from cutting Fed rates at all next year
Trump tariffs could prove to be the pin that pops the bubble on Fed cuts next year.
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Instant view: US PCE price inflation ticks higher in October, as expected
In the 12 months through October, the PCE price index increased 2.3 after advancing 2.1% in September. Excluding the volatile food and energy components, the PCE price index rose 0.3%, after a similar increase in September. In the 12 months through October, core inflation increased 2.8% after climbing 2.7% in September.
US third-quarter economic growth unrevised at 2.8%
The U.S. economy grew at a solid clip in the third quarter, the government confirmed on Wednesday, amid robust consumer spending. Slight downward revisions to consumer spending, government outlays and exports, were offset by upgrades to private inventory accumulation, business investment as well as state and local government spending. Consumer spending, which accounts for more than two-thirds of economic activity, grew at a still-brisk 3.5% pace.
US economy grows at 2.8% pace in third quarter on consumer spending, unchanged from first estimate
The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of third-quarter growth. U.S. gross domestic product — the economy's output of goods and services — slowed from the April-July rate of 3%, the Commerce Department reported Wednesday. This category includes consumer spending and private investment but excludes volatile items like exports, inventories and government spending.
Oil settles down after Israel agrees to ceasefire deal with Hezbollah
HOUSTON (Reuters) -Oil prices settled lower on Tuesday, extending the previous day's losses in choppy trade after Israel agreed to a ceasefire deal with Hezbollah, reducing oil's risk premium. The accord between Israel and armed group Hezbollah was expected to take effect on Wednesday, U.S. President Joe Biden said. Israeli Prime Minister Benjamin Netanyahu said he was ready to implement a ceasefire and would "respond forcefully to any violation" by Hezbollah.
Morning bid: Holiday-bound US turns focus to inflation, France tense
With Wall Street about to log off for what's effectively a four-day Thanksgiving holiday, trade tariff jitters are replaced by inflation angst as the Federal Reserve gets another price check. Although big automakers took a hit, broad U.S. stock indexes seemed unperturbed on Tuesday by President-elect Donald Trump's threat of 25% tariffs on imports from Canada, Mexico and China. With trading thinning this week, stocks are still feeding off assumptions about the extent of Trump's agenda of tax cuts, tariff rises and immigration crackdowns.
Wall Street stocks end higher on tech; markets analyze Trump's tariff threats, Fed minutes
(Reuters) -Wall Street stocks, led by S&P 500 and the Nasdaq, ended higher on Tuesday, as technology stocks rebounded, while investors digested President-elect Donald Trump's tariff pledges on top trade partners and the latest minutes from the Federal Reserve. U.S. short-term interest-rate futures pared earlier losses after the Fed's latest minutes showed officials appeared divided over how much further they may need to cut interest rates.