Economic News Update: Video
Monday Morning Market and Economic News update, John Caruso recaps market performance from last week. JOLTS update, Fed interest rate hike. 5% is likely for the next meeting of the Fed. Is Powell starting to become less hawkish? Watch John’s chart review of the S&P 500, VIX, Gold, and more. Be sure to subscribe to […]
Zero-COVID Takes a Toll on PRC’s GDP
China’s economic growth is slowing as GDP data show Xi Jinping’s Zero-COVID policy Hammered the economy. The National Bureau of Statistics of China announced that the country’s GDP by 3% in 2022. Falling significantly short of the 5.5% increase expected by Chinese officials. The data revealed the impact of the government’s zero-COVID policy. The GDP […]
PWC Resigns as Auditor for Evergrande
PWC Resigns as Auditor for Evergrande Exhange filing showed the accounting firm PWC resigns sending its official resignation letter to Evergrande Monday. Chinese property developer Evergrande released a statement that global accounting firm PWC had resigned as its auditor, citing diverging views on the company’s 2021 financial statements. An exchange filing said the resignation letter […]
US Dollar Falls, While Gold, Japanese Yen, and China’s CPI Surge.
USD Falls, While Gold, Chinese CPI, Japanese Yen Surge Thursday trading saw the Dollar tumble to a nearly nine-month low against the Euro. The move comes on the after the BLS report showed US inflation was easing. Leading to speculation that the Federal Reserve will be less aggressive with rate hikes going forward. The decline […]
World Bank Makes Downward Revision to Economic Outlook
World Bank Makes Downward Revision to Economic Outlook New analysis by the World Bank, a Global recession in 2023 and financial crises in emerging market and developing countries may cause permanent damage to the world economy. The revised growth prediction this year went from 3% to 1.7%, which would be the 3rd worst year for […]
