In its CPI inflation watch note released Thursday, Bank of America said in the note previewing next week's data release that inflation will remain too high for comfort.
The investment bank's analysts expect April core CPI inflation to print at 0.28% month-on-month (MoM), which would be a moderation from the 0.37% average in the first quarter.
They expect core inflation to also print at 0.3% MoM. "This would be a noticeable moderation from the 0.37% m/m 1Q... (continue reading...)
Investing.com -- Main U.S. indexes rose Thursday amid signs of cooling in the labor market following a rise in weekly jobless claims, boosting hopes the Federal Reserve will lower interest rates.
Here are some of the biggest U.S. stock movers today:
Arm Holdings (NASDAQ: ARM) ADRs slumped 2% after the chip designer delivered annual revenue guidance that fell short of estimates despite a wave of enterprise spending on artificial... (continue reading...)
Investing.com - After the decision of the Monetary Policy Committee (Copom) of the Central Bank to cut Brazil's basic interest rate (Selic) by 0.25 percentage points, as expected, but in a divided decision, Bank of America (BofA) indicated it expects a further decrease of the same magnitude in June, followed by a pause until January 2025. In a note released to clients and the market on Thursday, May 9th, the bank projected Selic at 10.25% by the end of 2024 and 9.0% by... (continue reading...)
Investing.com - The yen is struggling to hold onto any gains against the U.S. dollar, even after last week’s official intervention, but UBS still sees the potential for a medium term decline in the USD/JPY pair.
At 10:30 ET (14:30 GMT), USD/JPY traded 0.1% higher at ¥155.64, just below the ¥160 level seen last week - the yen’s weakest level against the dollar in 34 years.
This weakness comes despite Japanese authorities spending what’s believed to be some $60... (continue reading...)
Investing.com -- The number of Americans filing first-time claims for unemployment benefits was greater than anticipated last week, in the latest sign of potential cooling in the U.S. labor market.
According to Labor Department data on Thursday, initial jobless claims rose to 231,000 in the week ending on May 4, increasing from upwardly revised total of 209,000 in the prior week. It was the highest mark since August and above economists' expectations of 212,000.
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