Labor productivity in the U.S. saw an unrevised jump in the fourth quarter of 2023, according to a report released by the Labor Department on Thursday. The Labor Department said labor productivity shot up by 3.2 percent in the fourth quarter, unchanged from the previous estimate. Economists had expected the surge in productivity to be...
The Commerce Department released a report on Thursday showing the U.S. trade deficit widened in the month of January amid a jump in the value of imports. The report said the trade deficit increased to $67.4 billion in January from a revised $64.2 billion in December. Economists had expected the trade deficit to widen to...
Indian shares hit fresh record highs on Wednesday, with private sector banking stocks and financials leading the surge. The 30-share BSE Sensex hit a record high of 74,151 before ending the session up 408.86 points, or 0.55 percent, at 74,085.99. The broader NSE Nifty index claimed 22,497 before closing up 117.75 points, or 0.53 percent,...
Egypt\'s central bank decided to raise its interest rate by 600 basis points and to allow the currency exchange rate to be determined by market forces at an emergency meeting on Wednesday, citing high inflation. The Monetary Policy Committee of the Central Bank of Egypt lifted the overnight deposit rate to 27.25 percent and the...
After a flat start, Swiss stocks moved higher and stayed firm right till the end of day\'s session on Wednesday, tracking positive global cues and on hopes global central banks will start cutting interest rates in the second quarter. The benchmark SMI, which opened at 11,463.01, ended with a gain of 82.73 points or 0.72%...
The U.S. dollar moved down against its major counterparts in the New York session on Wednesday, as ADP private sector employment increased less than expected in February and Federal Reserve Chair Jerome Powell reiterated the possibility of rate cuts this year. In his testimony before the House Financial Services Committee, Powell said that it would...
Economic activity in the U.S. has increased only slightly since early January, according to the Federal Reserve\'s Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts. The Beige Book, released Wednesday afternoon, said eight districts reported slight to modest growth in activity, three others reported no change...
Despite paring some early gains, the Canadian market ended modestly higher on Wednesday with materials and consumer discretionary stocks posting notable gains. Several stocks from communications, consumer staples and utilities sectors also moved higher. Healthcare stocks were weak. The market reacted positively to the Bank of Canada\'s monetary policy announcement, and the Federal Reserve Chair...
The U.S. dollar drifted lower against its major rivals on on Wednesday, weighed down by data showing a smaller than expected addition in private sector employment, and amid rising prospects of interest-rate cuts this year. Federal Reserve Chair told the House Financial Services Committee today that it would be appropriate to begin lowering interest rates...
China will on Thursday release February figures for imports, exports and trade balance, highlighting a modest day for Asia-Pacific economic activity. Imports are expected to rise 2.0 percent on year after adding 0.2 percent in January. Exports are called higher by an annual 2.5 percent, up from 2.3 percent in the previous month. The trade...