Economy Financial News

It was a tumultuous 2023 for the Chinese economy

Premarket trading on Wall Street was mixed on what’s expected to be another quiet day between the Christmas and New Year holidays

More Americans applied for unemployment benefits last week, but not enough to raise concern about the labor market or broader economy

Asian shares are mixed in muted trading on the last trading day of the year

The average long-term U.S. mortgage rate retreated for the ninth straight week to its lowest level since May

The IPO market limped ahead in 2023 and analysts expect a steadier recovery ahead

The Biden administration is granting Louisiana's request to administer its own permit program for wells that store carbon dioxide

Hawaii’s governor and mayor are welcoming tourists back to the west side of Maui months after August wildfires killed at least 100 people and destroyed more than 2,000 buildings

U.S. stock futures are little changed Friday as the market puts the wraps on a year of surprisingly robust gains

The S&P 500 closed out 2023 with a gain of more than 24% as easing inflation, a resilient economy and the prospect of lower interest rates buoyed investors, particularly in the last two months of the year

By Davide Barbuscia

By Saqib Iqbal Ahmed

Tehrik-eTaliban Pakistan (TTP) that has crippled all efforts to revive the sinking economy. The demand was raised by Pakistan army chief Asim Munir with the US leadership during his recent visit there.

By Lewis Krauskopf

Indian banks have shrugged off exceptional monetary tightening in advanced economies, domestic rate hikes, wars and volatile commodity prices. Their notional losses in a major portfolio of securities are at a level to comfortably ward off the kind of threats that sank a few US banks in March 2023. «The notional loss in the HTM (held-to-maturity) book of scheduled commercial banks declined marginally to ₹70,497 crore as at end September 2023 as compared to a notional loss of ₹71,817 crore as at end March 2023,» the Reserve Bank of India said in its December 2023 Financial Stability Report. RBI's assessment of notional losses in the HTM portfolio — which it started publishing recently — assumes significance in light of the collapse of the Silicon Valley Bank and a few other US-based lenders in March 2023, stressed by huge losses incurred on holdings of American bonds. «If you look at the core capital of public sector banks, in our estimate, that is close to around ₹8 lakh crore.

Quiver Quantitative — The year 2023 has been a rollercoaster for the US 10-year Treasury yield (TLT), characterized by dramatic fluctuations but ending the year remarkably close to where it started. This outcome stands as a stark contrast to the tumultuous journey the yield has undergone, encapsulating the uncertainty and volatility that have dominated financial markets.

Quiver Quantitative — The year 2023 emerged as a period of surprising market resilience, defying Wall Street's grim forecasts and manifesting a significant stock rally. Contrary to expectations, the S&P 500 (SPY) and Nasdaq 100 (QQQ) experienced significant gains, with the latter achieving its best performance since the dot-com era. This upsurge reflects the enduring impact of consumer demand that has been driving growth and inflation since the pandemic's onset.

MOSCOW (Reuters) — Russia's economy contracted by 1.2% last year, less than the 2.1% decline previously estimated, the state statistics service Rosstat said on Friday.

Speculation about a «Santa Claus rally» dominates financial discussions every December, irrespective of the market's annual performance.

By Deep Kaushik Vakil

Canada’s largest bank says the country’s mortgage market will not change significantly in the wake of its acquisition of HSBC Holdings Plc.’s operations here, but industry watchers aren’t as sure.