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BlackRock is opening a Saudi investment firm with initial $5 billion from PIF
The new platform will be called BlackRock Riyadh Investment Management, or BRIM.
Private payrolls increased by 192,000 in April, more than expected for resilient labor market
Private payrolls increased at a faster than expected pace in April, indicating there are still plenty of tailwinds for the U.S. labor market.
https://www.cnbc.com/2024/05/01/adp-jobs-report-april-2024-192000-jobs-added.html
Here's everything to expect from the Fed meeting that will move markets on Wednesday
Markets are anticipating a near-zero chance that the policy-setting arm of the central bank will announce any change to interest rates.
McDonald's and other big brands warn that low-income consumers are starting to crack
Higher prices have weighed on customers in an array of industries that interact with consumers.
Worker pay rose more than expected in Q1 in another sign of persistent inflation
The employment cost index, which measures worker salaries and benefits, gained 1.2% in the first quarter.
Euro zone inflation steady at 2.4%, keeping June rate cut in play as economy returns to growth
Price rises in the 20-nation euro area held steady at 2.4% in April, while the economy returned to growth in the first quarter.
https://www.cnbc.com/2024/04/30/euro-zone-inflation-april-2024-and-first-quarter-gdp.html
IMF chief warns of emerging market risk with high U.S. interest rates
The benchmark rates of most advanced economies soared in recent years, as central banks aimed to tame inflation following the Covid-19 pandemic.
Saudi Arabia says all NEOM megaprojects will go ahead as planned despite reports of scaling back
"For NEOM, the projects, the intended scale is continuing as planned. There is no change in scale," Saudi Economy Minister Faisal Al Ibrahim told CNBC.
WEF president: 'We haven't seen this kind of debt since the Napoleonic Wars'
Borge Brende, president of the World Economic Forum, gave a stark outlook for the global economy.
All the data so far is showing inflation isn't going away, and is making things tough on the Fed
The last batch of inflation news that Federal Reserve officials will see before their meeting next week is in, and none of it is very good.
Key Fed inflation measure rose 2.8% in March from a year ago, more than expected
The core personal consumption expenditures price index was expected to increase 2.7% from a year ago in March, according to the Dow Jones consensus estimate.
Slowing growth plus stubborn inflation add up to a headache for Fed officials
The data spells at least a mild stagflationary environment that will make policymaking troublesome.
GDP growth slowed to a 1.6% rate in the first quarter, well below expectations
Real GDP was expected to increase 2.4% in the first quarter on a seasonally adjusted basis, according to economists surveyed by Dow Jones.
https://www.cnbc.com/2024/04/25/gdp-q1-2024-increased-at-a-1point6percent-rate.html
GDP report Thursday expected to show economy still growing at a solid pace
The sum of all goods and services is expected to post 2.4% annualized growth for the three months ended in March.
Why the Fed keeping rates higher for longer may not be such a bad thing
It's a tough case to sell that higher interest rates today are having a substantially negative impact on the course of the economy.
Something strange has been happening with jobless claims numbers lately
For five of the past six weeks, the level of initial jobless filings totaled exactly 212,000.
Risk of a global recession is minimal, IMF economist says — would take 'a lot to derail'
The Washington DC-based institute this week nudged its global growth outlook slightly higher to 3.2% in 2024.
https://www.cnbc.com/2024/04/17/risk-of-a-global-recession-is-minimal-imf-economist-says.html
High company valuations a 'worry,' IMF's capital markets chief says
High corporate valuations could pose a significant risk to financial stability as market optimism becomes untethered from fundamentals, the IMF said Tuesday.
https://www.cnbc.com/2024/04/17/high-company-valuations-a-worry-imfs-capital-markets-chief-says.html
UK inflation eases less than expected to 3.2% in March, sparking concerns of U.S.-style stickiness
Economists polled by Reuters expected a reading of 3.1%, down from 3.4% in February.
https://www.cnbc.com/2024/04/17/uk-inflation-march-2024.html
IMF upgrades global growth forecast as economy proves 'surprisingly resilient' despite downside risks
The IMF on Tuesday raised its global growth forecast slightly, saying the economy had proven "surprisingly resilient" despite inflationary pressures.
U.S. economy will see 'more things break' in 2025 if rates stay high, strategist says
Altaf Kassam told CNBC that classic monetary policy mechanisms had "broken."
Retail sales jumped 0.7% in March, much higher than expected
Retail sales increased 0.7% for the month, considerably faster than the Dow Jones consensus forecast for a 0.3% increase.
Surging inflation fears sent markets tumbling and Fed officials scrambling
The early data is in for the path of inflation during the first three months of 2024, and the news so far is not good.
Beyoncé bounce: Western boot sales jump more than 20% week over week since 'Cowboy Carter' launch
The iconic shoe is getting a lift from Beyoncé's latest album.
BlackRock's Larry Fink sees Fed cutting rates twice this year but missing 2% inflation goal
The head of the world's largest money manager said it's unlikely the central bank will hit its 2% goal anytime soon.
Jamie Dimon warns that inflation, wars and Fed policy pose major threats ahead
Taken together, Dimon said the three issues pose substantial unknowns.
UK economy posts 0.1% growth in February in further sign of recession rebound
The U.K. economy fell into a recession last year but showed slight growth in January.
https://www.cnbc.com/2024/04/12/uk-economic-growth-february-2024.html
Wholesale prices rose 0.2% in March, less than expected
The producer price index was expected to increase 0.3% in March, according to the Dow Jones consensus estimate.
European Central Bank gives strong signal that cuts are on the way despite Fed uncertainty
The euro zone's central bank held interest rates steady for a fifth straight meeting.
https://www.cnbc.com/2024/04/11/european-central-bank-holds-interest-rates-hints-at-cut-ahead.html
Hot inflation data pushes market’s rate cut expectations to September
March's consumer price index release Wednesday helped verify worries that inflation is proving stickier than thought.