News Highlights : Top Global Markets News of the Day – Wednesday at 9 PM ET -January 17, 2024 at 09:16 pm EST
Stocks Fall on Rate-Cut Pessimism
Stronger than expected economic indicators dash hopes for aggressive Fed action.
Fed’s Beige Book finds signs of cooling labor market across most of the U.S.
There were signs that the labor market was cooling in nearly all regions of the country, according to a Federal Reserve survey released Wednesday.
War, Politics Eclipse Economics on Davos Leaders’ Minds
Spreading war, fragmenting trade and key elections fuel anxiety at the annual forum.
U.S. Likely to Levy Higher Penalties for Export-Control Violations
The Commerce Department official says businesses should expect more “big-ticket” fines for running afoul of controls on the flow of goods to Russia and China.
OPEC Expects Global Oil Demand to Slow in 2025
OPEC said it expects global oil demand to slow next year, even as it raised its economic forecast as easing inflation spurs global growth.
Australia’s Unemployment Rate Steady Despite Plunge in Full-Time Employment
Australia’s unemployment rate remained steady in December, but the data showed signs of a sharp deterioration in the job market.
U.S. manufacturing in ‘rough shape’ despite tick up in industrial output in December
Industrial production rose 0.1% in December, the Federal Reserve reported Wednesday. The gain was above of a 0.1% decline, according to a survey by The Wall Street Journal.
Analysis: Dollar Could Rise in Coming Months as Rate-Cut Prospects Dwindle, Euro Weakens
The dollar was expected to break higher against the euro as investors scale back excessive U.S. rate-cut expectations while a fragile eurozone economy weighs on the single currency.
Consumers Start 2024 on Strong Footing After a Jolly Holiday
U.S. retail sales rose a seasonally adjusted 0.6% in December from a month earlier, the Commerce Department said Wednesday, a larger gain than economists expected.
Import prices flat in December, a stronger reading than expected
The import price index were unchanged in December, the Labor Department said Wednesday. Economists surveyed by the Wall Street Journal were expecting a 0.6% decline.
(END) Dow Jones Newswires
01-17-24 2115ET
