US consumer spending rebounds, but high inflation eroding demand

Consumer spending increases 0.4% in August Personal income rises 0.3%; saving rate steady at 3.5% Core PCE price index jumps 0.6%; up 4.9% year-on-year WASHINGTON, Sept 30 (Reuters) – US consumer spending increased more than expected in August, but aggressive interest rate hikes from the Federal Reserve as it battles stubbornly high inflation are slowing … Read more

SNAPSHOT Wall St opens lower as inflation data adds to rate-hike worries

Sept 30 (Reuters) – Wall Street’s main indexes opened lower on Friday as resilient core inflation in August stoked fears of more big-sized interest-rate hikes denting a rebound in consumer spending. The Dow Jones Industrial Average (.DJI) fell 102.58 points, or 0.35%, at the open to 29,123.03. The S&P 500 (.SPX) opened lower by 6.99 … Read more

Bank of England won’t make emergency rate hike but will go big on Nov 3

Economists lift peak UK rates forecast after market chaos Median forecast for 75 bps rate hike on Nov 3 BoE intervenes in UK bond markets to restore order LONDON, Sept 30 (Reuters) – The Bank of England won’t raise interest rates before its next scheduled policy announcement on Nov. 3 despite a plunge in sterling … Read more

Investors dump global bond and equity funds on recession risks

Sept 30 (Reuters) – Global bond and equity funds witnessed massive outflows in the week ended Sept. 28 as worries about a recession grew, with the US Federal Reserve determined to keep interest rates higher to tame inflation pressure. read more A selloff in British gilts following finance minister Kwasi Kwarteng’s announcement of historic tax … Read more

Russian ruble leaps to 8-year high vs euro as market awaits sanctions

This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, Sept 30 (Reuters) – The rouble soared to its highest in almost eight years against the euro on Friday, with investors anxious that more sanctions against Moscow could limit foreign currency trading as Russia prepared to annex … Read more

Hawks and hardliners | Reuters

A look at the day ahead in European and global markets from Vidya Ranganathan The third quarter of 2022 draws to a close with monetary and military hawks prevailing, and financial markets nursing some of the worst setbacks in decades. Russian President Vladimir Putin is set to host a Kremlin ceremony on Friday annexing about … Read more

INDIA STOCKS Indian shares inch lower ahead of RBI policy outcome

BENGALURU, Sept 30 (Reuters) – Indian shares edged lower on Friday, dragged by losses in information technology and autos, ahead of an expected rate hike decision by the country’s central bank to fight inflation. The NSE Nifty 50 index (.NSEI) was down 0.3% at 16,776, as of 0347 GMT, and the S&P BSE Sensex (.BSESN) … Read more

INDIA RUPEE Rupee seen higher on current account deficit surprise, dollar retreat

MUMBAI, Sept 30 (Reuters) – The Indian rupee is expected to open higher against the US dollar on Friday, after the country reported a lower-than-expected current account deficit for the June quarter. The dollar index pulling back further from multi-year highs will likely be an additional boost for the rupee, traders said. The rupee is … Read more

Wall Street nosedives on mounting economic growth concerns

S&P 500 index back at near two-year lows Airlines, cruises fall on cancellations due to Hurricane Ian CarMax slumps on missing second-quarter expectations Indexes down: Dow 1.54%, S&P 2.15%, Nasdaq 3.05% Sept 29 (Reuters) – Wall Street tumbled on Thursday on worries of a global economic downturn from aggressive central bank policy and fears that … Read more

London stocks slide as fiscal policy concerns weigh; Next drops

FTSE 100 down 1.8%, FTSE 250 off 2.1% Next’s outlook cut sparks selloff across the retail sector Synthomer plunges after lowering annual profit outlook Sept 29 (Reuters) – London stocks tumbled on Thursday, led by losses in Next shares after the clothing retailer cut outlook citing a worsening cost-of-living crisis, while investors also digested the … Read more