U.S. LABOR COSTS SEEN AS TOO HOT FOR INFLATION TO STAY ON TARGET The cost of…
Day: November 7, 2024
📰 U.S. LABOR COSTS SEEN AS TOO HOT FOR INFLATION TO STAY ON TARGET The cost of labor in the U.S. will need to cool down before the Fed is able to keep inflation at its 2% target, Capital Economics Paul Ashworth says in a note. Unit labor costs rose 1.9% in the 3Q and the 2Q figure was revised to 2.4%. “ULC growth is the single biggest determinant of labour-intensive core services prices,” Ashworth says. “In other words, unless ULC growth slows again, it will be a lot harder for Fed officials to claim that inflation can be sustained at 2%.”
📰 JAPANESE YEN RISES 1% TO SESSION HIGH 153.06 PER DOLLAR
JAPANESE YEN RISES 1% TO SESSION HIGH 153.06 PER DOLLAR
📰 THE WORLD’S 10 RICHEST PEOPLE GOT A RECORD $64 BILLION RICHER FROM TRUMP’S REELECTION The biggest gainer was Elon Musk, the world’s richest person and one of Trump’s most outspoken and dedicated supporters, whose wealth jumped $26.5 billion to $290 billion Wednesday, according to Bloomberg. Amazon founder Jeff Bezos’ wealth grew $7.1 billion a week after defending his decision to withhold the Washington Post’s endorsement of Vice President Kamala Harris. Oracle cofounder Larry Ellison, another Trump supporter, saw his net worth rose $5.5 billion Wednesday.
THE WORLD’S 10 RICHEST PEOPLE GOT A RECORD $64 BILLION RICHER FROM TRUMP’S REELECTION The biggest…
📰 🇩🇪TALKS BETWEEN CONSERVATIVE PARTY LEADER MERZ AND CHANCELLOR SCHOLZ ENDED WITHOUT RESULT – GERMAN GOVERNMENT SOURCE
🇩🇪TALKS BETWEEN CONSERVATIVE PARTY LEADER MERZ AND CHANCELLOR SCHOLZ ENDED WITHOUT RESULT – GERMAN GOVERNMENT SOURCE
📰 U.S INITIAL JOBLESS CLAIMS ACTUAL: 221K VS 216K PREVIOUS; EST 222K U.S CONTINUING JOBLESS CLAIMS ACTUAL: 1892K VS 1862K PREVIOUS; EST 1873K
U.S INITIAL JOBLESS CLAIMS ACTUAL: 221K VS 216K PREVIOUS; EST 222K U.S CONTINUING JOBLESS CLAIMS ACTUAL:…
📰 U.S UNIT LABOR COSTS (QOQ) (Q3) ACTUAL: 1.9% VS 0.4% PREVIOUS; EST 1.1%
U.S UNIT LABOR COSTS (QOQ) (Q3) ACTUAL: 1.9% VS 0.4% PREVIOUS; EST 1.1%
📰 U.S NONFARM PRODUCTIVITY (QOQ) (Q3) ACTUAL: 2.2% VS 2.5% PREVIOUS; EST 2.6%
U.S NONFARM PRODUCTIVITY (QOQ) (Q3) ACTUAL: 2.2% VS 2.5% PREVIOUS; EST 2.6%
📰 U.S. President Joe Biden was set to address the nation on Thursday after a stinging election defeat for his Democratic Party at the hands of Republican Donald Trump, whose stunning political comeback has reverberated around the world. Biden’s abrupt exit amid concerns about his mental acuity jolted the presidential race in July and Democrats scrambled to replace him with Vice President Kamala Harris as their candidate. He will speak at 11 a.m. (1600 GMT), the White House said.
U.S. President Joe Biden was set to address the nation on Thursday after a stinging election…