Hot Inflation Data Raise Doubts Over Timing of Rate Cuts
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Dollar rally falters as falling inflation raises hopes of rate cuts
US currency on track for first negative month of the year after end to months of above-forecast CPI dataFinancial Times - Business -
BoE could be close to cutting rates as inflation eases says deputy governor
Ben Broadbent believes direct effects of pandemic and war in Ukraine have now ‘faded’Financial Times - Business -
Gold Steady as Rate-Cut Hopes Wane
Gold was steady. After hitting new highs, gold “immediately withdrew back” as Fed speakers overnight warned that rate cuts are still some way down the road, DailyFX said.The Wall Street Journal - World -
The Dow crossed 40000 for the first time, a milestone that appeared implausible a little more than two years ago when the Fed began raising interest rates to cool an overheated economy.
The Dow crossed 40000 for the first time, a milestone that appeared implausible a little more than two years ago when the Fed began raising interest rates to cool an overheated economy.The Wall Street Journal - World -
Oil Prices Rise on Positive Inflation Data, Stockpile Falls
Oil prices rose, with positive sentiment supported by positive economic data and a fall in inventories.The Wall Street Journal - World -
ECB's Schnabel Says Second Rate Cut in July 'Does Not Seem Warranted'
The European Central Bank should move cautiously after delivering a first rate cut in June, a member of its executive board said in an interview.The Wall Street Journal - World -
ECB’s Schnabel lobbies against back-to-back rate cuts
European Central Bank board member Isabel Schnabel pushed back on the idea of back-to-back interest rate cuts, saying inflation risks are still tilted to the upside.MarketWatch - Business -
Grant's Take: Retail Sales Don't Point to Rate Cut Just Yet
Walmart earnings give a different signal than what the latest Commerce Department data delivered.The Wall Street Journal - World -
Mortgage rates drop as markets bet on Bank of England cut
Fresh wave of competition among lenders could provide relief for homebuyers ahead of UK general electionFinancial Times - Business - Mortgage -
China to cut mortgage rates as part of plan to prop up property market
Local authorities will be allowed to turn unsold homes from developers into affordable housing. China will cut mortgage rates and allow local authorities to turn unsold homes from developers into affordable housing, in a series of drastic measures ...The Guardian - World - China -
Gold Futures Set New Record on China Debt, Rate-Cut Hopes and Geopolitical Fears
Gold futures reached a new record settlement as Chinese investors flock to safe havens, rate-cut hopes grow and geopolitical tensions mount.The Wall Street Journal - World - China -
Summer interest rate cut possible, says Bank deputy
Ben Broadbent's comments come ahead of data which is expected to show a fall in inflation.BBC News - Top stories -
Why the post-Fed stock-market rally is raising fresh inflation questions
The issue is whether Fed Chair Jerome Powell’s post-meeting remarks on May 1 — in which he said the central bank’s next move is “unlikely” to be a rate hike — are now easing financial conditions by so much that this ends up stalling progress on ...MarketWatch - Business -
There’s more good news on inflation. Americans may have a hard time believing it.
Purchasing power for the average household actually increased from 2019 to 2023, a government report found. But higher earners are still coming out on top.MarketWatch - Business -
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The U.S. economy and inflation might be cooling off, but lower interest rates are still far away
Is the economy headed in the right direction? Wall Street investors certainly think so. They drove U.S. stocks to a record high this week. Why the optimism?MarketWatch - Business -
BoE needs more evidence of price pressures easing before cutting rates, says policymaker
Megan Greene believes ‘burden of proof’ must lie in inflation waning before Bank of England loosens stanceFinancial Times - Business -
Fed’s Mester says forecast of 3 rate cuts this year is now probably too many
“I was on the record before saying I was at the median [forecast] which was three,” Loretta Mester said Monday. “The developments I’ve seen in the economy right now, I would not think that that’s still appropriate.”MarketWatch - Business -
Test Scores Down, GPAs Up: The New Angst Over Grade Inflation
Teachers say they have to balance “giving grace” to struggling students with maintaining high expectations.The Wall Street Journal - World -
Nickel price surges as New Caledonia riots raise concerns over supply
Industrial metal critical in electric vehicle batteries climbs almost 7%Financial Times - Business -
Norwegian Cruise’s stock rises as profit outlook raised for 2nd time in 3 weeks
Norwegian Cruise Line’s stock rallied Monday, after the cruise operator raised its full-year profit outlook, again, citing continued “very strong demand.”MarketWatch - Business -
Kosovo shuts 6 Serb bank branches over use of the dinar currency in a move that could raise tensions
Kosovo police have closed six branches of a Serbia-licensed bank in line with the decision on the ban of the use of the Serbian dinar currency in the countryABC News - World -
Save Over $60 On 12 Months Of Xbox Game Pass Ultimate With Target's Limited-Time Deal
Xbox Game Pass Ultimate is on sale for its best price of the year. Three-month subscription codes are available for $35 at Target (down from $50), while one-month codes are discounted to $11.89. You can also snag the same three-month deal at Stack ...GameSpot - Tech -
Red flag? Samuel Alito scandal casts further doubt on supreme court’s impartiality
The court will play a crucial role in November’s election. Alito’s pro-Trump flag adds fuel to an already raging ethics debate. With less than six months to go before America chooses its next president, the US supreme court finds itself in a ...The Guardian - World -
Vermont makes waves on data privacy
The Hill's weekly technology news digest. {beacon} Friday, May 17, 2024 Welcome to Tech Friday, a new joint project of The Hill and Pluribus News covering tech policy across government. Sign up to receive The Hill's newsletters here. Rather ...The Hill - Politics -
Pacers oust Knicks behind historic hot shooting
The Pacers set an NBA playoff record after shooting 67.1% from the field in Game 7's drubbing of the Knicks.ESPN - Sports -
How fast is UK inflation falling?
Market Questions is the FT’s guide to the week aheadFinancial Times - World - United Kingdom -
For Japanese Hot Springs, Visit 3 Charming Onsen Towns in Kaga City
A new high-speed train stop unlocks Kaga, a destination for onsen, nourishing food and traditional crafts, as an easy-to-reach getaway from Japan’s capital.The New York Times - Top stories -
This Is Hot Slaw. And Cleveland, Tenn., Wants You to Love It, Too.
A spicy, yellow dollop of cabbage slaw became Tennessee’s first official state food — then everyone had to learn what it was.The New York Times - Top stories -
Why the Equal Rights Amendment Is Again a Hot Topic in New York
The proposed amendment to the State Constitution has become a divisive culture-war issue that encompasses abortion, discrimination and transgender athletes.The New York Times - Top stories - New York -
‘Such a hot mess’: turmoil inside the world of US beauty pageants
A Miss USA winner has handed back her crown, and another champion has resigned – is the lustre of the pageant starting to wear off?. The US beauty pageant industry, in a concise summation made last week, is “such a hot mess”.. Two reigning beauty ...The Guardian - World -
Talk about a market cap: ‘Dow 40,000’ hats are hot sellers
There’s a market for headwear tied to the stock market.MarketWatch - Business -
The Properties High Interest Rates Can't Touch
Competition to buy the world’s most exclusive stores is intense despite modest rent growth.The Wall Street Journal - World -
China Benchmark Lending Rates Held Steady
The country’s benchmark lending rates were held steady this month, central bank data showed Monday after Beijing announced bold moves to address property-sector malaise.The Wall Street Journal - World - China -
How should countries deal with falling birth rates?
As the UK and US continue to see falling birth rates, options to deal with the issue are limited.BBC News - Top stories -
Some data in the market-moving CPI report was released early by the Labor Department
Information about Wednesday's critical consumer price index release circulated early on the Bureau of Labor Statistics website.CNBC - Business -
The end of centralized data? Samsung teams with Expanso on distributed processing
Enables teams to analyze data in situ, reducing the operational overhead of replicating data centers or managing data movement between cloudsVentureBeat - Tech -
Snowflake invests in Metaplane to solve data quality issues plaguing AI development
The investment in Metaplane will enable Snowflake customers to closely monitor the quality of their data assets moving through different stages of the pipeline to power downstream applications.VentureBeat - Tech -
Weka scores $140M to supercharge AI workloads with ‘dynamic data pipelines’
With this funding, Weka will augment its cash reserves from previous rounds and work towards scaling the business to meet the demand for AI infrastructure in the wake of the generative AI boom.VentureBeat - Tech -
Reddit to Give OpenAI Access to Its Data in Licensing Deal
The deal will give the artificial-intelligence startup access to Reddit’s data.The Wall Street Journal - Tech