government’s debt could be catastrophic for the economy. Economists say a resulting default on the U.S. government is edging closer to a June 1 deadline where it could run out of cash unless Congress allows it to borrow more. Rate cuts act like steroids for financial markets but would likely happen only if the economy slides into recession and needs such oomph.įor banks, the broader concern is that the industry’s troubles may cause a pullback in lending, which would hurt the economy. Before the US cracked down on Chinas tech sector, the countrys. Traders are betting on a high probability that the Fed will have to cut interest rates later this year. From the latest in science and technology to the big stories in business and culture. That’s bad news for workers and adds to concerns about a potential recession because the job market has been one of the main pillars propping up the economy.īut a cooling labor market would also carry a benefit for the Fed, which fears that a too-hot job market could put upward pressure on inflation.įollowing the reports, Treasury yields fell on expectations for a less-aggressive Fed. News from world, national, and local news sources, organized to give you in-depth news coverage of sports, entertainment, business, politics, weather, and more. Many states in the United States are passing laws that will provide legal immigrants and. Here are the top 7 that Knowinsider has learned from. The year 2020 has seen its fair share of major historic events and Google has revealed the most trending news of the year. report said more workers filed for unemployment benefits last week than expected. Who are Most Searched on Google - Top 10. after reporting it lost streaming subscribers last quarter dragged on shares on Wall Street.Ī separate U.S. Hong Kong’s Hang Seng was virtually unchanged at 19,746.09, while the Shanghai Composite lost 0.1% to 3,304.87.Ī surprisingly sharp drop for The Walt Disney Co. South Korea’s Kospi dropped 0.4% to 2,481.40. slumped after reporting its second year in a row of losses.Īustralia’s S&P/ASX 200 dipped 0.1% to 7,244.50. gained after reporting relatively favorable earnings. Japan’s benchmark Nikkei 225 gained 0.9% in morning trading to 29,393.24 as companies like Nissan Motor Co. Recent data reflect very low inflation and weak credit extensions in China, which all indicate slowing growth as the initial jump from the nation dropping pandemic-related restrictions fades, he said. Jean Carroll OUT News 'Drag Race' star Shangela. “Asian equities struggled for direction after weak inflation data in China pointed to weakening demand,” said Stephen Innes, managing partner at SPI Asset Management. Davis student arrested in deadly college town attacks NBC News NOW Trump suggests a return to NYC to 'confront' E. banks and lagging demand from China, the region’s major driver of growth. Treasury Secretary Janet Yellen says that in her personal opinion, the United States should adopt a. TOKYO (AP) - Asian shares were mostly lower Friday on looming worries over U.S. Yellen: Different System Needed to End Repeated Standoffs Over US Debt Ceiling.
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