According to a preliminary January survey by IHS Markit, Service PMI fell to 50.9 this month from 57.6 in December. That was much larger than the expected decline to 55.0 and marked the lowest reading since July 2020.IHS Markit’s Manufacturing PMI also fell more than expected to 55.0 from 57.7 …

The US dollar declined on Friday, along with US Treasury yields, while investors looked ahead to next week’s Federal Reserve meeting for more clarity on the outlook for rate hikes.US Treasury yields fell as stock market declines reflected poor risk appetite, while concerns about potential conflict in Ukraine drove demand …

China, the world’s second largest economy, should review its zero-tolerance approach to the pandemic or risk damaging the global recovery, according to the head of International Monetary Fund.Kristalina Georgieva said Beijing should reassess the use of lockdowns to limit the spread of the highly contagious Omicron variant since it became …

US energy firms this week cut oil rigs for the first time in 13 weeks after crude prices fell for six weeks in a row from late October-early December. Oil prices, meanwhile, have recovered and traded at their highest since 2014 this week. Energy analysts said it usually takes about …

The GBP/JPY pair fell sharply on Friday and heavy downside in the global equity market and commodity space weighed on more risk-sensitive currencies such as sterling, while a sharp drop in global bond yields on safe-haven demand boosted the rate-sensitive yen.Much worse than expected UK Retail Sales figures for December …

US equity markets continued to sell off on Friday, as downbeat earnings from tech giant Netflix weighed on sentiment and its competitors. NFLX shares dropped over 20% on Friday after the company on Thursday issued significantly worse than expected guidance for subscriber growth in Q1 2022. That weighed on other …

On Wednesday, 26 January, Tesla (NASDAQ:TSLA) will report its Q4 earnings for fiscal year 2021, so the fact that Tesla stock is falling today does not foreshadow particularly well. Tesla stock is trading down 2.5%, about five times worse than the decline on the broader Nasdaq index.Why Tesla stock is …

3 Bank Stocks Win Q4 Earnings Season This bank earnings season has winners and losers, but the winners could not be more different. Of the six big banks that posted Q4 results this month, only three saw their stocks rise on their respective earnings day, this applies on Morgan Stanley …

This week, Wall Street is facing sharp volatility as investors and market participants keep their fingers crossed while awaiting a hawkish FOMC meeting on 25-26 January. However, the fourth-quarter 2021 earnings season is gathering pace with better-than-expected results so far.Earnings results are expected to stay strong this time around. Six …

The US economy has kept growing in the face of the rapid spread of omicron. The US leading index rose a solid 0.8% in December, signaling steady growth even as the record spread of the omicron virus nibbled at the edges of the economy. Economists polled by The Wall Street …