COMPOSITE Financial News

global financial crisis more than a decade ago. New data from S&P Global has shown that the nation could be sliding towards a recession, with the labour market showing signs of loosening, Bloomberg reported. The reading for September, according to the latest composite Purchasing Managers' Index (PMI) by S&P Global, plummeted to 46.8 from 48.6 in August.

Bank of England's decision to halt interest rate increases for the first time in almost two years. S&P Global's composite Purchasing Managers' Index slipped to 46.8 in September from 48.6 the month before, the sharpest decline in output since January 2021 when the UK was in lockdown. The reading was worse than economists expected and plunged the private sector deeper into contraction territory. The survey was cited in the BOE's decision to hold interest rates at 5.25% as evidence that Britain's already sputtering economy was weakening. The central bank had an early look at the indicator before its decision, which economist said may indicate that borrowing costs have peaked for now. The PMI adds to a growing list of indicators that point to a lackluster second half of the year for the economy. Retail sales data also out Friday showing a smaller-than-expected bounce back in August. That suggests retail may be a drag on gross domestic product figures for the third quarter unless September delivers a big bounce higher. S&P also said there had been an “abrupt turnaround” in the jobs market, with staff cuts the fastest since October 2009, excluding lockdowns during the pandemic.

Wall Street’s dismal run is getting a bit of a reprieve, and stocks are ticking higher

U.S. dollar pared gains against a basket of currencies on Friday after data showed U.S. business activity nearing a standstill in September, while the yen slumped after the Bank of Japan (BOJ) kept interest rates in negative territory. S&P Global said its flash U.S.

The Dow Jones Industrial Average rose 6.66 points, or 0.02%, at the open to 34,077.08.

LONDON (Reuters) — The euro zone economy will likely contract in the third quarter and won't return to growth anytime soon, a survey showed, even though a downturn in the bloc's business activity eased slightly in September.

Investing.com — The Bank of Japan maintained its extremely accommodative monetary policy stance, hitting the yen, while U.S. stocks are set for hefty weekly drops in the wake of the Federal Reserve’s hawkish tilt. Microsoft (NASDAQ:MSFT) could soon receive U.K. approval for its Activision purchase, while an expansion of the UAW draws nearer.

BERLIN (Reuters) — German business activity fell for the third consecutive month in September due to a sustained decline in demand for goods and services, pointing to a «deep» economic contraction in the quarter, a preliminary survey showed on Friday.

The prospect of Alberta pulling out of the Canada Pension Plan in favour of its own pension scheme is back in the spotlight with an independent report — three years in the making — claiming the oil-rich province is entitled to more than half of the assets in the CPP Fund.

IA Financial Corp. is cutting jobs in its capital markets business, ending its institutional activities including equity research.

All three major U.S. stock indexes retreated in the wake of announcement, with interest rate sensitive megacap stocks Microsoft Corp, Apple Inc and Nvidia Corp pulling the Nasdaq down most. The Fed's announcement was accompanied by its Summary Economic Projections (SEP) and dot plot, which sees an additional 25 basis point rate hike this year, peaking in the 5.50%-5.75% range. The SEP projections also called for 50 basis points of rate cuts next year. «It's your standard Fed day volatility,» said Ryan Detrick, chief market strategist at Carson Group in Omaha, Nebraska.

U.S. stocks slumped after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it

Real estate stocks gained 2.2%. Euro zone banks surged 2%, on UniCredit’s 4.7% rally. Canada stocks pared its earlier gains to end down on Wednesday.

Asian shares are mostly lower as markets await a decision by the Federal Reserve on interest rates

Investing.com — U.S. stock futures were trading in a tight range during Tuesday's evening deals, following a negative session among major benchmark averages amid rising yields ahead of the Federal Reserve's key interest rate decision.

Stocks slipped as Wall Street waits for the Federal Reserve’s latest decision on interest rates

Indian Sellers Collective has raised concerns over a recent WHO Report, which suggested the implementation of a taxation system based on nutritional content. The WHO report titled 'The growth of ultra-processed foods in India: An analysis of trends' suggests increasing tax on non-packaged and unlabelled foods, which are currently taxed at 5 per cent under the Goods and Services Tax (GST) regime.

Fed policy meeting, stocks are drifting again in the US stock market. The S&P 500 was off 0.2% early Tuesday. The Dow slipped 37 points and the Nasdaq composite was down 0.4%.

U.S. stocks edged higher as Wall Street makes few big moves in advance of the Federal Reserve’s next meeting on interest rates

Asian shares are mostly weaker in cautious trading ahead of the Federal Reserve’s looming decision on interest rates

Recent data in Europe, such as the purchasing managers’ index (PMI) data, shows that the European economy is weakening. In fact, the Eurozone Composite PMI in August reflected the deepest contraction in nearly three years, while nearly every economy in the region reported weaker readings, led by Germany.