Wall Street ended up on the jobs data, avoiding a debt default

Nasdaq posted its best weekly winning streak since January 2020 The data shows that the unemployment rate was 3.7% in May. moderate wage growth Amazon accesses a report on its talks for low-cost mobile services Materials is driving the S&P sector’s gains, and Nvidia is falling again (Reuters) – U.S. stocks closed higher on Friday … Read more

Morning Show: Euphoric markets eye June jump jobs

[1/2] An employee employment sign with a QR code is seen in the window of a company in Arlington, Virginia, US, April 7, 2023. REUTERS/Elizabeth Frantz A look at the coming day in the US and global markets from Mike Dolan With the removal of the US debt ceiling, global markets are seeing the sky … Read more

Nvidia is joining the $1 trillion valuation club due to the growing demand for artificial intelligence

Nvidia is one of the five US companies worth $1 trillion Shares are up 240% since October Artificial intelligence drives market gains May 30 (Reuters) – Nvidia Corp. (NVDA.O) joined the elite club of US companies with a market cap of $1 trillion on Tuesday, as investors flocked to a chip maker that is fast … Read more

AA arghg! Stocks in debt ceiling risk zone after US rating warning

[1/2] The US Capitol is reflected in a diminishing pool amidst ongoing negotiations seeking a deal to raise the US debt ceiling and avoid a catastrophic default, in Washington, US, on May 24, 2023. REUTERS/Jonathan Ernst SINGAPORE (Reuters) – Markets were stuck in uncertainty about the U.S. debt ceiling on Thursday, while Europe largely ignored … Read more

Markets are jittery about the uncertainty about the debt ceiling and rising US yields

[1/2] A trader works at the Frankfurt Stock Exchange amid the coronavirus disease (COVID-19) outbreak, in Frankfurt, Germany, December 30, 2020. REUTERS/Ralf Orlovsky Debt ceiling hopes are hanging Fed talk pushes US yields higher European stocks are down, and US futures are flat European PMI data shows that business growth has remained resilient SINGAPORE (Reuters) … Read more

The dollar climbed to its highest level in seven weeks after strong data and optimism about the debt ceiling

Housing in the United States begins to rise in April Biden and McCarthy are pushing for a deal soon The Chinese Yuan is weakening after 7 dollars for every dollar The US dollar reached a two-week high against the yen SINGAPORE (Reuters) – The dollar rose to a seven-week high on Wednesday, boosted by optimism … Read more

Yellen says a default in the US could lead to a recession

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen warned on Tuesday that a default on government debt would likely leave millions of Americans without income payments, triggering a recession that could destroy many American jobs and businesses. Yellen told a group of local bankers that the unprecedented economic and financial crisis would be exacerbated by … Read more

Preview China and the US debt problems may dominate the G7 finance chiefs’ talks

Japan hosts the G7 financial leaders’ meeting from May 11-13 The rising risk of a US debt default could put Yellen under pressure The G7 is seeking a deal to diversify supply chains away from China An awareness meeting to discuss the debt problems of emerging countries Stubbornly high inflation and slowing growth are among … Read more

The Morning Show: Showdown on the Ceiling

May 9 (Reuters) – A look at the day ahead on US and global markets from Mike Dolan. Nothing has been decided yet – on any front. With global markets still deadlocked over the extent of the economic slowdown and the chance of a recession, the US debt ceiling impasse remains unresolved — and Tuesday’s … Read more

In Türkiye, an election counts for the rise and fall of Erdogan’s economy

Economic pressures have affected Erdogan’s support in recent years But the decline in prosperity, equality began around 2013 The May 14 vote is the toughest test for the president in two decades ISTANBUL (Reuters) – If Turks oust President Recep Tayyip Erdogan in elections this month, it will be largely because of the economic upheaval … Read more