Headline inflation in the euro area moderated by nearly two-tenths in February on a year-over-year basis, reaching 2.6%. The core rate, which excludes volatile items such as energy, food, alcohol, and tobacco, to provide a clearer measure of long-term inflation trends, fell to 3.1% from 3.3%, its lowest level in two years, according to data from Eurostat, […]
China’s economic growth exceeds expectations
China’s latest economic data for January and February 2024 have exceeded analysts’ estimates. Notably, retail sales rose by 5.5%, surpassing forecasts of 5.2%. Similarly, industrial production grew by 7%, beating forecasts of a 5% increase. Labor market and investments: a mixed picture Fixed asset investment also exceeded expectations, rising by 4.2% compared to analysts’ predictions […]
Wall Street revaluates Nike’s price target pending results
Next Thursday, March 21, Nike B will release its results in reference to the third fiscal quarter of 2024. Wall Street analysts have renewed their price target for Nike B with a positive outlook, despite negative estimates According to Brand Finance’s 2023 Apparel 50 Annual Report, Nike was named the top sports brand worldwide for the ninth […]
Wholesale inflation rises in February and its impact on the U.S.
Wholesale prices increased at a faster-than-expected pace in February, another reminder that inflation continues to be a growing concern for the U.S. economy. The Producer Price Index, which looks at costs in the supply chain for raw, intermediate, and finished goods, rose 0.6% during the month, the Labor Department’s Bureau of Labor Statistics released Thursday. […]
Dollar Rallies on PPI Expectations, EUR on ECB Expectations
The U.S. dollar (USD) gained value in European market trading on Thursday, maintaining recent strength in anticipation of the release of further clues about U.S. interest rates relative to producer inflation along with retail sales data. The dollar Index (DXY), which tracks the value of the U.S. dollar against a basket of six major currencies, stood […]
Bank of America revises upward positive S&P 500 estimates
The S&P 500 will deliver higher-than-expected earnings in 2024, fueled by steady growth and advances in artificial intelligence, according to analysts at Bank of America Corp. (BAC), recognized as one of Wall Street’s top earnings forecasters. In a recent statement, the financial institution commented that they have raised their S&P 500 earnings per share (EPS) estimate to $250 […]
U.S. Inflation remains high in february data
In February, the Consumer Price Index (CPI) grew grew 0.4% month-over-month and 3.2% annually. The Bureau of Labor Statistics of the Department of Labor reported that the core CPI, which does not include food and energy prices, rose 0.4% in February and 3.8% compared to the same month last year. Although inflation has been falling since […]
London Stock Exchange to accept BTC and ETH ETNs
The UK’s Financial Conduct Authority said it will not oppose applications to create a market segment for ETNs backed by cryptocurrencies. The London Stock Exchange (LSE) reported that it is going to start allowing and accepting applications for Bitcoin (BTC) and Ethereum (ETH) exchange-traded notes (ETNs) by the second quarter of 2024. On Monday, March 11, […]
Boeing stocks have fallen more than 25% so far in 2024
Boeing shares fell nearly 3.2% to be the worst performer among members of the Dow Jones Industrial Average. The disappointing year for Boeing (BA) continues into 2024, recently hitting a new low, with shares plunging more than 25% so far this year, just after the Justice Department began a criminal investigation into issues related to the […]
U.S. Federal Reserve minutes warn of risks if interest rates are lowered too quickly
Most U.S. Federal Reserve (Fed) officials showed concern last month about the possibility of lowering interest rates too quickly, noting that the risks of lowering rates too quickly outweigh the risks associated with maintaining high borrowing costs for an extended period. The minutes of the Federal Open Market Committee meeting held on January 30-31 reported […]