Frugal is the new cool for young Chinese as economy falters

Frugal is the new cool for young Chinese as economy falters

BEIJING, Sept 19 (Reuters) – Before the pandemic, Doris Fu imagined a different future for herself and her family: new car, bigger apartment, fine dining on weekends and holidays on tropical islands. Instead, the 39-year old Shanghai marketing consultant is one of many Chinese in their 20s and 30s cutting spending and saving cash where … Read more

Wall Street looks to extend its winning streak ahead of CPI report

Wall Street looks to extend its winning streak ahead of CPI report

Register now for FREE unlimited access to Reuters.com Register Headline CPI seen easing Tuesday Bristol Myers rises on FDA approval for psoriasis drug Twitter says Musk’s latest attempt to scrap deal invalid Indexes up: Dow 0.66%, S&P 0.97%, Nasdaq 1.14% NEW YORK, Sept 12 (Reuters) – Wall Street advanced to two-week highs on Monday with … Read more

Wall St falls for 3rd straight session on worries about Fed rate hikes

Wall St falls for 3rd straight session on worries about Fed rate hikes

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2022. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register Best Buy sales beat estimates as discounts spur demand Jobs openings in July rise sharply Dow down 1.02%, S&P 500 down 1.22%, Nasdaq … Read more

Wall Street ends in a hole after Powell’s Wyoming speech

Wall Street ends in a hole after Powell’s Wyoming speech

Fed will keep tightening until inflation controlled – Powell Core PCE increases 0.1% in July vs. 0.6% rise in June Dell, Affirm tumble on weaker forecasts Indexes down: Dow 3.03%, S&P 3.37%, Nasdaq 3.94% Lower for the week: Dow 4.2%, S&P 4%, Nasdaq 4.4% Aug 26 (Reuters) – Wall Street ended Friday with all three … Read more

Gasoline price drop restrains U.S. consumer spending; monthly inflation brakes sharply

Gasoline price drop restrains U.S. consumer spending; monthly inflation brakes sharply

Consumer spending increases 0.1% in July Drop at service stations accounts for the small rise Core PCE price index edges up 0.1%; up 4.6 year-on-year WASHINGTON, Aug 26 (Reuters) – U.S. consumer spending barely rose in July as falling gasoline prices hurt sales at service stations, but monthly inflation slowed sharply, which could reduce the … Read more

S&P 500, Nasdaq close up 4th straight week as optimism grows

S&P 500, Nasdaq close up 4th straight week as optimism grows

Nasdaq, S&P 500 post longest weekly win streaks since November S&P 500 recovers 50% of bear market losses S&P 500 is up 17.7% from a mid-June low NEW YORK, Aug 12 (Reuters) – Wall Street closed higher on Friday as signs that inflation may have peaked in July increased investor confidence that a bull market … Read more

U.S. gasoline prices fall below $4 for first time since March

U.S. gasoline prices fall below  for first time since March

Gasoline demand has waned in the summer Lower-income households spending less as prices dip U.S. retail price hit a record in June Aug 11 (Reuters) – The average price of U.S. retail gasoline fell below $4 per gallon on Thursday for the first time in months, giving some relief to drivers in the world’s largest … Read more

China’s factory inflation hits 17-month low, consumer prices speed up

China’s factory inflation hits 17-month low, consumer prices speed up

A worker walks past steel rolls at the Chongqing Iron and Steel plant in Changshou, Chongqing, China August 6, 2018. REUTERS/Damir Sagolj/File Photo Register now for FREE unlimited access to Reuters.com Register July producer inflation at lowest since Feb 2021 July consumer inflation at 2-year high PBOC seen staying accommodative to spur growth BEIJING, Aug … Read more

Wall Street closes little changed on Fed policy fears

Wall Street closes little changed on Fed policy fears

Auto stocks up on Senate approval of bill with EV funding Nvidia slides as slump in gaming demand hits Q2 revenue Dow closes up 0.09%, Nasdaq down 0.1%, S&P 500 0.12% Aug 8 (Reuters) – Wall Street closed mostly flat on Monday after blockbuster jobs data last week reinforced expectations the Federal Reserve will crack … Read more

China’s factory activity contracts unexpectedly in July as COVID flares up

China’s factory activity contracts unexpectedly in July as COVID flares up

Employees work on the production line of vehicle components during a government-organised media tour to a factory of German engineering group Voith, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China July 21, 2022. REUTERS/Aly Song Register now for FREE unlimited access to Reuters.com Register China July official manufacturing PMI below forecast July official services PMI grows … Read more