U.S. inflation data doesn’t offer quick relief for Fed, but hints at spike

WASHINGTON, June 30 (Reuters) – New U.S. data for May showed little immediate relief from the record pace of inflation pushing the Federal Reserve toward another oversized interest rate hike next month, but it added to the growing sense that the worst might be over. Inflation as measured by the personal consumption expenditure price index … Read more

China does not provide material support for Russia’s war in Ukraine – US official

The flags of China and Russia are shown in this illustration photo taken March 24, 2022. REUTERS/Florence Lo/Illustration Join now for FREE unlimited access to Reuters.com Register WASHINGTON, June 30 (Reuters) – The United States has not seen China evade sanctions or provide military equipment to Russia, a senior U.S. official said on Thursday, adding … Read more

Column: The Global Economic Cycle Begins to Slow: Kemp

An aerial view shows containers and cargo ships at the port of Qingdao in Shandong province, China May 9, 2022. China Daily via REUTERS Join now for FREE unlimited access to Reuters.com Register LONDON, June 30 (Reuters) – Global manufacturing activity and freight movements have started to slow as major economies slump under the combined … Read more

S&P 500 ends brutal first half 22 with biggest percentage loss since 1970

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., June 27, 2022. REUTERS/Brendan McDermid Join now for FREE unlimited access to Reuters.com Register NEW YORK, June 30 (Reuters) – Deep stock and bond losses, wild market swings and a Federal Reserve determined to stem the worst inflation … Read more

Germany warns of possible Russian oil price caps far from imminent – sources

The industrial facilities of PCK Oil Raffinerie are represented in Schwedt/Oder. The company receives crude oil from Russia via the ‘Friendship’ pipeline, Germany, May 9, 2022. REUTERS/Hannibal Hanschke Join now for FREE unlimited access to Reuters.com Register BRUSSELS, June 30 (Reuters) – Germany and other European Union governments expressed caution at a closed-door meeting on … Read more

H1 markets: The almost perfect storm

MSCI global stocks fell the most in the first half since the index was created Deutsche Bank estimates worst for Treasuries since 1788 Commodity bulls lifted oil 50% and gas 60% Yen Takes Blows as Dollar Rises High LONDON, June 30 (Reuters) – Investors knew that after two years of COVID-19 chaos, 2022 would be … Read more

Morning Auction: It’s Gonna Hurt

A symphony of light illuminates the south facade of the headquarters of the European Central Bank (ECB) in Frankfurt, Germany, December 30, 2021. REUTERS/Wolfgang Rattay/File Photo Join now for FREE unlimited access to Reuters.com Register A look at the day to come on the markets of Julien Ponthus. Recession-watching investors learned little they didn’t already … Read more

Venezuela’s second-largest refinery suspends production of gasoline-sources

A general view of the Cardon refinery complex which belongs to Venezuela’s state oil company PDVSA in Punto Fijo, Venezuela November 17, 2016. REUTERS/Carlos Garcia Rawlins Join now for FREE unlimited access to Reuters.com Register CARACAS, June 29 (Reuters) – Venezuela’s state-owned PDVSA has suspended gasoline production at the country’s second-largest refinery due to a … Read more

Businesses cut spending and jobs as outlook becomes less certain

June 29 (Reuters) – Executives at electric car marker Tesla, drugmaker Novartis and retailer Bed Bath and Beyond cut spending or jobs while others put projects or deals on hold as inflation hits rage and that confidence in the global economy is diminishing. Manufacturing growth slows around the world as China’s COVID-19 curbs and Russia’s … Read more

Stocks mostly slip, yields ease on Powell’s inflation comments

S&P 500 drops slightly early Powell: The clock is ticking for the Fed on cutting inflation US dollar higher NEW YORK, June 29 (Reuters) – Global index stocks mostly fell slightly and Treasury yields eased on Wednesday as investors weighed comments from Federal Reserve Chairman Jerome Powell who said there was a risk that the … Read more