Category: Economic News

Dow Futures
Economic News
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Dow Futures Little Changed, Chegg Tanks 21.5% After Earnings

Written by:RituPosted on:

U.S. stock futures were trading in a tight range during Monday’s evening deals, after major benchmark averages finished the regular session lower as rising yields put pressure on risk-sensitive assets ahead of key speeches set to be delivered by Federal Reserve officials later in Tuesday’s session. By 18:30 ET (23:30 GMT) Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures were trading in a range of 0.1%. In extended deals, Chegg (NYSE:CHGG) fell 21.5%…

"Dow Futures Little Changed, Chegg Tanks 21.5% After Earnings"
Taiwan Exports
Economic News
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Taiwan Exports Seen Contracting For Fifth Straight Month in January: Reuters Poll

Written by:RituPosted on:

Taiwan’s exports in January likely fell for the fifth month in a row amid fears of a global recession, uncertainties due to the war in Ukraine, and the COVID situation in China impacting tech demand, according to a Reuters poll. Taiwan, a global hub for chip production and a key supplier to Apple Inc (NASDAQ:AAPL), is one of Asia’s leading exporters of technology goods. The trade data is seen as an important gauge of world…

"Taiwan Exports Seen Contracting For Fifth Straight Month in January: Reuters Poll"
China Hotel
Economic News
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China Hotel, Catering Job Openings Surge On PAost-COVID Demand Recovery – Survey

Written by:RituPosted on:

Chinese hotels and restaurants are seeking employees amid demand recovery in the services sector after the end of Beijing’s zero-COVID protocols, with a survey by a leading recruiter showing a surge in job openings in the hospitality industry. During the first six days of work after China’s Lunar New Year holiday, job openings in the hotel and catering sectors surged 40% from the same period a year earlier, according to a survey published on Friday…

"China Hotel, Catering Job Openings Surge On PAost-COVID Demand Recovery – Survey"
Dow Futures
Economic News
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Dow Futures Trade Lower As Tech Earnings Disappoint, Apple Sheds 2.8%

Written by:RituPosted on:

U.S. stock futures were trading lower during Thursday’s evening deals, after major benchmark averages finished mixed as investors grew cautious after a slew of mixed earnings reports. By 6:35pm ET (11:40pm GMT) Dow Jones Futures were down 0.2%, S&P 500 Futures fell 0.6% and Nasdaq 100 Futures were down 1.2%. In extended deals, Apple (NASDAQ:AAPL) shed 2.1% after the company reported Q1 EPS at $1.88 versus $1.94 expected, while revenues came in at $117.12 billion…

"Dow Futures Trade Lower As Tech Earnings Disappoint, Apple Sheds 2.8%"
META
Economic News
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Meta Stuns Street With Lower Costs, Big Buyback, Upbeat Sales

Written by:RituPosted on:

Meta Platforms Inc’s stricter cost controls this year and a new $40 billion share buyback sent shares soaring on Wednesday, as CEO Mark Zuckerberg called 2023 the “Year of Efficiency.” The parent of Instagram and Facebook (NASDAQ:META), which has fallen on hard times amid a broad post-pandemic slump in digital ads, is focused on improving its content recommendations powered by artificial intelligence and its ad targeting systems to keep users clicking. Meanwhile, it will cut…

"Meta Stuns Street With Lower Costs, Big Buyback, Upbeat Sales"
ECB
Economic News
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ECB To Raise Rates Again And Face Questions About Future Path

Written by:RituPosted on:

The European Central Bank is set to raise interest rates again on Thursday and pencil in more hikes for the next few months, with the only open question being how big these will be. The ECB has been increasing rates at a record pace to fight a sudden bout of high inflation in the euro zone – the byproduct of factors including the aftermath of the COVID-19 pandemic and an energy crisis that followed Russia’s…

"ECB To Raise Rates Again And Face Questions About Future Path"
Asia FX
Economic News
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Asia FX Rallies, Dollar Tumbles As Markets Bet on Fed Pivot

Written by:RituPosted on:

Most Asian currencies rose sharply on Thursday, while the dollar sank to a nine-month low even after the Federal Reserve hiked interest rates, with markets betting that a U.S. economic slowdown will force the bank into reversing its hawkish stance this year. The Chinese yuan rose 0.4% and came close to a seven-month high against the dollar, while risk-heavy Southeast Asian currencies marked the biggest gains. The Philippine peso added nearly 1%, while the Malaysian…

"Asia FX Rallies, Dollar Tumbles As Markets Bet on Fed Pivot"
Vodafone interim
Economic News
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Vodafone Interim CEO Vows to ‘Do Better’ After Q3 Revenue Growth Slows

Written by:RituPosted on:

in third-quarter revenue growth that stemmed from weak performance in key European markets. Organic growth in service revenue dropped to 1.8% year-on-year during the three-month period to December 31 to €9.52 billion (€1 = $1.0883), down from an increase of 2.5% in the prior quarter. The company said the slip was linked to declines in customer levels in its biggest market Germany, where organic service revenue slumped by 1.8% compared to the previous year to…

"Vodafone Interim CEO Vows to ‘Do Better’ After Q3 Revenue Growth Slows"
UniCredit
Economic News
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UniCredit Hikes Payout Goal By 40% After Record Rofit

Written by:RituPosted on:

UniCredit pledged on Tuesday to return 5.25 billion euros ($5.69 billion) to investors based on its 2022 results after posting a record quarterly profit, as CEO Andrea Orcel works to meet his ambitious payout plans. Orcel, who has focused UniCredit on capital light businesses to maximise returns since taking over in April 2021, expressed confidence in receiving the necessary green light from European Central Bank supervisors. Lenders needs ECB approval for share buybacks, which account…

"UniCredit Hikes Payout Goal By 40% After Record Rofit"
Rising Interest Rates
Economic News
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Rising Interest Rates Have a Sting in The Tail For Europe’s Banks

Written by:RituPosted on:

Rising borrowing costs are giving a long-awaited lift to Europe’s beleaguered banks, but they come with a sting in the tail. Last year central banks ended a decade of rock-bottom interest rates as the U.S. Federal Reserve and then the European Central Bank moved towards tightening. Two of Europe’s big corporate and mortgage lenders, Sweden’s SEB and Spain’s Sabadell, recently unveiled strong profits for 2022 as that trend helped lending lift earnings. But while rising…

"Rising Interest Rates Have a Sting in The Tail For Europe’s Banks"