The Bank of England (BoE) held its benchmark interest rate steady on Thursday but signaled a more hawkish stance as rising energy prices linked to the Middle East conflict threaten to push inflation higher. The nine-member Monetary Policy Committee (MPC) voted unanimously to keep rates unchanged at 3.75%, marking its first unanimous decision in over
The number of Americans filing new applications for unemployment benefits unexpectedly declined last week, pointing to stable labor market conditions and a potential rebound in job growth in March, even as global uncertainties persist. Data released by the US Labor Department showed initial claims for state unemployment benefits dropped by 8,000 to a seasonally adjusted
US stock opened lower on Wednesday after hotter-than-expected inflation data and rising oil prices dampened investor sentiment ahead of the Federal Reserve’s policy decision. Dow Jones Industrial Average fell about 169 points, or 0.36%, while S&P 500 fell 0.31% and Nasdaq 100 declined roughly 0.26%. The cautious tone followed a stronger-than-expected reading on wholesale inflation,
US wholesale inflation accelerated to its highest level in a year in February, adding to concerns that price pressures remained high even before the Iran war began. Data released by the US Labor Department on Wednesday showed the producer-price index (PPI) rose 0.7% month-on-month, up from 0.5% in January and well above economists’ expectations of
Shares of Starbucks came under pressure after RBC Capital Markets downgraded the coffee giant, citing rising labor costs, elevated investor expectations, and uncertainty around margin improvement. The brokerage cut its rating to “Sector Perform” from “Outperform” while maintaining a price target of $105, implying modest upside from current levels. Starbucks shares fell 0.9% to $96.69
Shares of Macy’s surged on Wednesday after the department store chain reported stronger-than-expected fourth-quarter results, driven by improving comparable sales and resilient higher-income shoppers, even as its forward outlook reflected macroeconomic caution. The stock rose more than 7% in trading after the company posted adjusted earnings per share of $1.67 for the fiscal fourth quarter,
Shares of Tesla fell in early Wednesday trading, slipping to $398.75, as broader US markets came under pressure following a stronger-than-expected inflation reading. The Dow Jones Industrial Average dropped 351 points, or 0.8%, while the S&P 500 declined 0.5%. The Nasdaq Composite also fell 0.5%. The move came after the latest producer price index (PPI)
Airline stocks climbed on Tuesday after major US carriers signalled that robust travel demand is helping cushion the impact of soaring fuel costs triggered by the escalating Middle East conflict, offering relief to a sector battered in recent weeks. Delta said the conflict in the Middle East has not dented travel demand so far, with
US stocks edged higher on Tuesday as investors looked to extend the previous session’s gains, while closely monitoring developments in the escalating Iran conflict and its impact on global energy markets. The S&P 500 and Nasdaq 100 gained 0.6%. Dow Jones Industrial Average advanced 398 points, or 0.85%. The cautious optimism follows a strong rebound
Ripple is stepping up its presence in Brazil as it broadens its digital asset services and prepares to enter the country’s formal crypto regulatory system. The payments-focused blockchain firm said Tuesday it is rolling out an expanded suite of offerings designed for banks and fintechs, while also planning to apply for a Virtual Asset Service