Wall St posts third straight quarterly loss as inflation weighs, recession looms

S&P 500 notches largest September percentage drop in 20 years All three major US stock indexes post three-quarter slumps Core inflation data hotter than expected Indexes down: Dow 1.71%, S&P 1.51%, Nasdaq 1.51% NEW YORK, Sept 30 (Reuters) – The S&P 500 closed the books on its steepest September decline in two decades on Friday, … Read more

Swiss National Bank ends era of foreign currency purchases

SNB halted foreign currency purchases to curb franc strength Sold 5 million Swiss francs worth of foreign currency in Q2 SNB spent 353 billion francs in 7-1 / 2 years on forex Policy seen as success by economists ZURICH, Sept 30 (Reuters) – The Swiss National Bank sold 5 million Swiss francs ($ 5.1 million) … Read more

China’s factory, services surveys suggest economy struggling to rebound

China Sept official manufacturing PMI above forecast Private survey shows factory activity contracted sharply Services sector activity growth slowed in Sept – official survey COVID curbs, softening foreign demand, property weakness weigh BEIJING, Sept 30 (Reuters) – China’s factory activity eked out growth in September, but a slowdown in services sector growth and a downbeat … Read more

US weekly jobless claims hit five-month low; economic picture darkening

Weekly jobless claims drop 16,000 to 193,000 Continuing claims decrease 29,000 to 1.347 million Second-quarter GDP contraction unrevised at 0.6% rate Gross domestic income revised down towards GDP WASHINGTON, Sept 29 (Reuters) – The number of Americans filing new claims for unemployment benefits fell to a five-month low last week as the labor market remains … Read more

Bank of England seeks to stem bond market turmoil after tax cut storm

BoE starts buying bonds, delays gilt sales IMF does ‘not recommend’ policies like UK growth plan Moody’s: economic plan is ‘growth negative’ Pound trading down 0.7% to $ 1.065 Kwarteng meets banking bosses again LONDON, Sept 28 (Reuters) – The Bank of England sought to quell a fire-storm in Britain’s bond markets, saying it would … Read more

Growth stocks lead bounce on Wall Street after brutal selloff

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, US, September 26, 2022. REUTERS / Brendan McDermid Register now for FREE unlimited access to Reuters.com Register Major indexes set to snap five-day losing streak Rate-sensitive tech, growth stocks shine Sharp rebound in oil prices boost energy firms Indexes … Read more

Fed officials stare down markets, say inflation is top focus

Register now for FREE unlimited access to Reuters.com Register WASHINGTON, Sept 26 (Reuters) – US Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping US stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation. “There are interactions there,” Cleveland Fed President Loretta Mester said, noting that … Read more

Cryptoverse: Bitcoin miners get stuck in a bear pit

A bitcoin representation is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS / Benoit Tessier Register now for FREE unlimited access to Reuters.com Register Sept 27 (Reuters) – Spare a thought for the beleaguered bitcoin miner. In late 2021, miners were the toast of the … Read more

Rampant dollar pauses for breath as bears stalk stocks

Register now for FREE unlimited access to Reuters.com Register HONG KONG, Sept 27 (Reuters) – Asian markets attempted to stabilize on Tuesday after a wild few days during which most assets, barring the dollar, fell, with the greenback easing a bit and stocks flat. Sterling, which collapsed to a record low $ 1.0327 on Monday, … Read more

Wall Street ends lower, Dow confirms bear market

Register now for FREE unlimited access to Reuters.com Register Fed rate hikes have investors ‘throwing in the towel’ Casinos jump as Macau allows tour groups after nearly 3 years Indexes: Dow -1.11%, S&P 500 -1.03%, Nasdaq -0.60% Sept 26 (Reuters) – Wall Street slid deeper into a bear market on Monday, with the S&P 500 … Read more