Manufacturing PMI 51.9 in March vs. 52.6 in February Non-manufacturing PMI rises at fastest pace in nearly 12 years BEIJING, March 31 (Reuters) – Chinese manufacturing activity expanded at a slower pace in March, official data showed on Friday, raising doubts about the strength of a post-COVID factory recovery amid decline in global demand and … Read more
Weekly jobless claims rise last week Faraday Future is ready to start production of luxury electric vehicles Roku wins on plans to cut 200 jobs Futures up: Dow 0.59%, S&P 0.61%, Nasdaq 0.68% March 30 (Reuters) – U.S. stocks were expected to open higher on Thursday as fears of a banking crisis subsided, while investors’ … Read more
SINGAPORE, March 30 (Reuters) – Asian stock markets posted recent gains on Thursday as fears of a banking crisis faded and investors wondered if a breakout in Chinese conglomerate Alibaba signaled a regulatory storm in Beijing targeting tech companies may finally wear off. The MSCI Asia Pacific ex-Japan equity index (.MIAPJ0000PUS) rose 0.2%. Like the … Read more
MSCI All-World Index rises 0.3%, dollar eases UBS rehires Ermotti as head of merged unit Alibaba soars 13%, boosts other Chinese tech stocks Oil goes up, gold goes down LONDON, March 29 (Reuters) – Global stocks rose on Wednesday as investors welcomed greater stability in the banking sector, but optimism was not strong enough to … Read more
Industrial profits in China from January to February -22.9% y/y vs -4.0% for 2022 Recovery is far from solid, demand and cost issues persist BEIJING, March 27 (Reuters) – The profit slump at China’s industrial companies deepened in the first two months of 2023, weighed down by lackluster demand and stubbornly high costs as the … Read more
A preview of the day ahead in Wayne Cole’s European and global markets Monday so far has been quiet with mixed Asian stock markets but US and European stock futures rising, possibly because they sailed through a weekend without another bank s collapses. There is some relief that First Citizens BancShares Inc (FCNCA.O) is in … Read more
ZURICH, March 26 (Reuters) – Swiss financial regulator FINMA said it was considering disciplinary action against Credit Suisse (CSGN.S) executives after Switzerland’s second-biggest bank had to be bailed out this week last by UBS (UBSG.S). FINMA President Marlene Amstad told Swiss newspaper NZZ am Sonntag that it was “still open” whether a new procedure would … Read more
WASHINGTON, March 24 (Reuters) – The U.S. multi-regulatory Financial Stability Oversight Board agreed on Friday that the U.S. banking system remains “sound and resilient” despite strains on some institutions, the U.S. Treasury said in its latest statement. to calm nervous markets and bank depositors. In a reading from a closed-door meeting chaired by Treasury Secretary … Read more
WASHINGTON, March 23 (Reuters) – For the fourth time in a week, U.S. Treasury Secretary Janet Yellen took a microphone on Thursday in a bid to reassure Americans about the safety of the U.S. banking system, each time with a subtle change of message. But the bankers and Wall Street never heard what they longed … Read more
WASHINGTON, March 22 (Reuters) – U.S. Treasury Secretary Janet Yellen told lawmakers on Wednesday that the Federal Deposit Insurance Corporation (FDIC) was not considering providing “blanket insurance” for bank deposits following the collapse of two major US banks this month. Some banking groups have urged Congress to temporarily guarantee all U.S. bank deposits, a move … Read more
