The Federal Reserve's decision to keep interest rates high for a longer period has sparked a debate among financial experts over the possibility of an impending recession.
The ISM barometer of U.S. business conditions at service-oriented companies fell slightly in September, suggesting some softening in the economy; however, the overall sentiment around the service sector remains positive.
The American banking, trade, forex, tourism, and other sectors could be severely impacted if BRICS countries stop using the U.S. dollar for trade, leading to potential financial catastrophe and hyperinflation.
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Billionaire investor Jeffrey Gundlach warns Americans of an impending recession due to the rapidly inverting U.S. Treasury yield curve.
Global strategist, Albert Edwards, warns that the current equity market reminds him of the 1987 crash and predicts an imminent recession due to factors such as plunging trucking jobs, low GDI growth, and decline in GDP growth.
Mortgage demand hits a 28-year low as long-term mortgage rates soar above 7%, leading to a slowdown in homebuying activity and applications to refinance, while adjustable-rate mortgages become more popular.
France's transport minister has called for calm amidst reports of bedbug infestations in Paris and other cities, stating that more can be done to combat the problem, including discussions with cleaning companies for innovative solutions, as videos of bedbugs on public transportation and in public spaces have circulated on social media, causing concern.
A sharp drop in demand, including high oil prices and adverse developments abroad, may lead to stagflation in the US economy in 2024, according to Robert Kahn of Eurasia Group.
Hiring by U.S. companies slowed more than expected in September, reflecting a cooling labor market due to higher interest rates, with the worst month for job creation since January 2021.
The European Central Bank's cycle of interest rate hikes has likely ended, according to ECB Governing Council member Mario Centeno, as inflation in the euro zone is declining faster than it rose.
The euro area is experiencing stagnated economic activity and weakening growth, leading the European Central Bank (ECB) to adjust its monetary policy by raising interest rates to combat inflation; however, uncertainties remain regarding the transmission of monetary policy and potential risks to economic growth.
Former governor Jesse Ventura believes that no one works hard enough to justify making billions of dollars, highlighting a disconnect between hard work and compensation, but suggests two ways to make money work for you: investing in dividend stocks and inflation-protected bond ETFs for passive income.
Central banks need to relax their 2% inflation targets and adopt a more pro-growth stance in order to prevent a global recession, according to the UN Conference on Trade and Development (Unctad), which warns that the recent interest rate hikes have increased inequality and reduced investment without effectively combating inflation. Unctad forecasts a slowdown in global growth and emphasizes the need to address a looming debt crisis in poor countries that is exacerbated by higher interest rates in advanced economies. The report also calls for reducing inequality and prioritizing comprehensive social protection.
Tech workers are holding onto their jobs, with fewer employees in the tech sector quitting their jobs in August compared to the previous month, potentially due to job insecurity and economic uncertainty.
Oil prices fell to their lowest level since September 11th as global financial markets experienced a selloff, despite reassurances from Saudi Arabia and Russia that they will continue output cuts until the end of the year.
Home buying demand drops as U.S. mortgage rates reach highest level since 2000, leading to a decline in mortgage application volume.
Invest NI, the economic development agency for Northern Ireland, will shift its focus from job creation to overall productivity following a scathing review of the organization's operations and management. The review found significant divisions within Invest NI and raised concerns about its support for businesses. The agency's action plan includes implementing a new model for engaging with the business community and developing partnerships with the Department for the Economy. Changes to leadership, operations, and strategy will be necessary to drive these transformations.
Japan's service sector experienced the slowest expansion in September since the beginning of the year, as shown by a private survey, indicating potential challenges for the country's economic recovery heavily reliant on domestic demand.
The sell-off in US Treasuries has caused shockwaves in global financial markets, leading to a decline in Indian stocks and sparking caution among investors ahead of the Reserve Bank of India's Monetary Policy Committee meeting, with expectations that the key repo rate will remain unchanged.
The U.S. labor market's strength may be at risk as the Federal Reserve's projected interest rate hikes could lead to a slowdown and increased consumer debt, potentially pushing the economy towards a recession.
Global economic growth is expected to slightly increase in 2024, but the United Nations warns of a precarious situation and significant economic headwinds that may lead to a slowdown in the U.S. and a potential recession in the eurozone. The UN also highlights the escalating debt distress among frontier economies and calls for more oversight and regulation of food companies in the global trade system.
The share of US adults with decreasing incomes has increased, indicating a cooling labor market, with high- and middle-income households and the West region being most affected, according to a survey by Morning Consult.
Euro zone retail sales in August saw a larger-than-expected decline, indicating weaker consumer demand amid high inflation.
Treasury yields dropped from multiyear highs after new jobs data indicated a potential weakening labor market, raising hopes that the Federal Reserve may halt interest rate hikes and leading to a relief rally in stocks.
British services companies experienced a smaller decline in September than expected, thanks to a drop in inflation and the Bank of England's decision to keep interest rates unchanged.
The euro zone economy likely contracted last quarter due to decreased demand, rising borrowing costs, and higher prices, with retail sales falling more than expected in August, according to a survey by HCOB's final Composite Purchasing Managers' Index (PMI).
Investing in women's economic power is crucial, as it increases financial stability, reduces poverty, and fuels economic growth, with the potential to boost the global economy by $10 trillion by 2030, according to philanthropist Melinda French Gates.
The Reserve Bank of New Zealand (RBNZ) kept interest rates steady at 5.5% and expressed confidence that past rate hikes were effective in reducing inflation, leading to a decline in the New Zealand dollar and a decrease in expectations of further tightening.
Tesco, the UK's largest supermarket chain, is aiming to lower prices and ease the pressure on households grappling with rising food prices, as the company reports a significant increase in profits for the first half of the year due to lower food costs and increased sales of own-brand products. The pace of rising food prices is expected to slow further, and Tesco is committed to driving down food bills for customers.
India's Minister of Petroleum and Natural Gas, Hardeep Singh Puri, has called on oil producers to consider the interests of consuming countries as global oil prices rise.
The benchmark KSE-100 index at the Pakistan Stock Exchange (PSX) surged over 300 points, attributed to a strong rupee, crackdown on smuggling, and positive performance of banks, among other factors.
Japanese authorities are not confirming whether they intervened in the foreign exchange markets after the yen's immediate strengthening following its fall past 150 against the U.S. dollar, sparking speculation.
French President Emmanuel Macron has stated that his government will "take back control" of electricity prices by the end of the year, potentially introducing its own price mechanism if it does not reach an agreement with the EU in talks. France's position is largely driven by its desire to ensure competitive advantages for its nuclear fleet and not be tied to gas prices.
Private sector investment in India's economy is expected to play a significant role in job creation, GDP growth, and relieving the government's investment load, according to Ranen Banerjee, Partner at PwC India.
The interest on the UK national debt has reached a 20-year high, posing challenges for Chancellor Jeremy Hunt as he prepares for the autumn statement, with the higher cost potentially influencing spending decisions on public services amid demands for pay rises from workers in key industries.
Chinese exporters are navigating a bumpy road back overseas amid a turbulent economic recovery, but are adapting to changes in global supply chains by diversifying production lines and exploring new markets such as the US.
China's economic slowdown, driven by a real estate crisis and prolonged Covid-19 measures, is raising doubts about its status as the largest economy in the world by 2030, while India is emerging as a promising economic powerhouse and attracting significant investments.
The ousting of House Speaker McCarthy and the ongoing political polarization in Washington could lead to a credit downgrade of US debt by Moody's, which would have significant market impacts and increase the risk of a recession.
South Korea's factory output unexpectedly surged in August, led by chip production, indicating a manufacturing and exports-led recovery in the third quarter.
South Korea's factory activity contracted for the 15th consecutive month in September, but at the slowest pace in 15 months, indicating hopeful signs for economic recovery.
China's state-owned enterprises (SOEs) must prioritize self-reliance in science and technology to ensure their survival and protect national security, as they play a crucial role in China's economy and strategic intentions, according to the State-owned Assets Supervision and Administration Commission. The regulator also emphasized the need for further reform to increase SOEs' competitiveness and highlighted the importance of protecting supply chains and energy resources.
The Dow experienced its worst day since March and fell into negative territory for the year as an unexpected surge in job openings and political dysfunction in Washington caused concern among investors and led to a plunge in stock indexes.
Liza Tobin argues that it is not China's economic growth that poses a risk to US national security, but rather its zero-sum tactics to achieve that growth, and therefore the US should target China's tactics and not its growth. On the other hand, Pavneet Singh believes that China's strategic intent to surpass the US as the world's economic and technological superpower presents significant risks, and the US must significantly increase its investment and coordination to compete with China. Cameron F. Kerry emphasizes the need for a measured response to China's growth and warns against a strategy aimed at keeping China down, while Mary E. Lovely argues that seeking to limit China's growth weakens the US and that the US should focus on targeted responses to harmful Chinese practices.
The article discusses how the dollar is expected to face challenges and recommends investing in real assets, according to Bank of America's Michael Hartnett.
The PwC 2023 Holiday Spending Outlook reveals that 40% of consumers plan to spend more this year compared to last year, with Gen-Z leading the way in increased spending, while baby boomers plan to spend less; overall, the survey shows a positive trend of younger shoppers' willingness to spend more during the holiday season.
U.S. Treasury Secretary Janet Yellen warns that the United States is overly reliant on China for critical supply chains, particularly in clean energy products, and calls for diversifying sources of supply.
U.S. Treasury Secretary Janet Yellen warns that the United States is too reliant on China for critical supply chains, particularly in clean energy products, and needs to diversify its sources of supply.
Treasury Secretary Janet Yellen expresses cautious optimism about the potential of AI to boost productivity while emphasizing the importance of U.S. investment in other areas, highlighting the impact of recent spending bills. She also discusses the economic outlook, fiscal responsibility, interest rates, and the need for derisking in the U.S.-China relationship.
A rising number of Americans are quitting their jobs even as their savings deplete and personal debt rises, with job openings unexpectedly growing in August, signaling a strong labor market but also reflecting the growing financial stress affecting Americans regardless of income level.