Grocery items are offered for sale at a supermarket on August 09, 2023 in Chicago, Illinois. Scott Olson | Getty Images Heading into 2023, the predictions were nearly unanimous: a recession was coming. As the year comes to a close, the forecasted economic downturn did not arrive. So what’s in store for 2024? An economic … Read more
Nike shares plunged Friday after the athletic apparel maker cut its revenue outlook for the fiscal year, with sneaker retailer Foot Locker also feeling the blow. Nike fell more than 10%. Foot Locker, which relies heavily on Nike products in its stores, was down over 5%. Nike said in its earnings report Thursday that the … Read more
The 10-year Treasury note yield slipped Friday, adding to its sharp downturn this week, as traders brace for possible Federal Reserve rate cuts next year. The yield on the 10-year Treasury was lower by 2 basis points at 3.905%. It had fallen below the 4% level for the first time since August on Thursday, reaching … Read more
Chinese yuan cash bills and chinese flag (money, economy, finance, inflation, crisis) Javier Ghersi | Moment | Getty Images Ratings agency Moody’s downgraded its outlook on China’s government credit ratings to negative from stable, expecting Beijing’s support and possible bailouts for distressed local governments and state-owned enterprises to diminish China’s fiscal, economic and institutional strength. … Read more
STORY: Moody’s cut its outlook on China’s government credit ratings on Tuesday (December 5). The ratings agency downgraded it from stable to negative. It reflects global worries about China’s economy. Moody’s said it sees growing evidence Chinese authorities will need to give more financial support for debt-laden local governments and state firms. That in turn, … Read more
TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker and a major Apple supplier, on Tuesday raised its outlook for the fourth quarter on strong year-end sales for the holiday peak season. The fourth quarter is traditionally the hot season for Taiwan’s tech companies as they race to supply smartphones, tablets and other … Read more
Jay Leno isn’t letting any accidents or mishaps keep him from living his dreams and pursuing his passions. The 73-year-old stand-up comic and former host of The Tonight Show came out to take part in this year’s Kennedy Center Honors in Washington, D.C., on Sunday, and he spoke with ET’s Deidre Behar about his high-profile … Read more
U.S. Treasury yields were slightly higher on Tuesday, as investors awaited the release of economic data that could provide hints about the economic outlook. The 2-year Treasury yield was up by about 3 basis points at 4.885%. The 10-year Treasury yield was 2 basis points higher at 4.4%. Yields and prices have an inverted relationship, … Read more
By Selena Li HONG KONG (Reuters) – Asian shares were flat on Thursday with markets holding onto their gains for the week as confidence grows that interest rates globally will head lower next year, while oil prices fell on the prospects for smaller-than-expected output cuts by OPEC+. Investors are also looking to Chinese policymakers for … Read more
An undated aerial view of Singapore’s Marina Bay at night. Nikada | E+ | Getty Images Singapore’s economy is expected to expand by 1% to 3% in 2024 on the back of an ongoing recovery in the travel and tourism industry, while the downturn in manufacturing and trade-related sectors could also be nearing an end. … Read more