The U.S. economy contracted slightly more than previously estimated in the first quarter as the trade deficit widened to a record high and a resurgence in COVID-19 infections curbed spending on services like recreation.
The S&P 500 and the Nasdaq were flat in volatile trading on Wednesday on worries over faster interest rate hikes even as recent data painted a dour picture for the economy, while a boost from Goldman Sachs shares kept the Dow afloat.
U.S. stock index futures dipped on Wednesday after several Federal Reserve policymakers made the case for faster interest rate hikes to bring down high inflation.
Wall Street wavered on Wednesday as investors limped toward the finish line of a downbeat month, a dismal quarter, and the worst first-half for the S&P 500 since President Richard Nixon's first term.
U.S. stocks fell on Wednesday with a gloomy first-half of the year approaching its end, marred by concerns of an aggressive monetary policy that risks pushing the economy into a recession.
There is risk in the United States that businesses and households could see price pressures persisting for a long time and central bankers must act resolutely to bring inflation down, Cleveland Federal Reserve President Loretta Mester said on Wednesday.
Canada's Manulife Financial Corp moved closer toward taking full control of its funds joint venture in China after regulators there accepted an application for the ownership change, two sources with knowledge of the matter told Reuters.
India's biggest cement producer, UltraTech Cement, is importing a cargo of Russian coal and paying using Chinese yuan, according to an Indian customs document reviewed by Reuters, a rare payment method that traders say could become more common.
The Bank of Japan (BOJ) may need to adjust its ultra-easy policy if inflation keeps exceeding its forecast, such as by replacing its yield cap with a looser reference range for long-term interest rates, a former central bank executive said on Wednesday.
European shares fell on Wednesday, as fears about a global recession overshadowed recent optimism about China reopening after months-long lockdowns, with investors looking ahead to a meeting of major central bank heads for clues on policy outlook.
Investors are assessing a recent U.S. stock market bounce after similar rallies have fizzled in 2022, a year that is on track for the biggest S&P 500 percentage drop in the first half of a year in over a half century.
European Central Bank policymakers are weighing up whether or not they should announce the size and duration of their upcoming bond-buying scheme, designed to curb financing costs for Italy and other debt-laden countries, sources told Reuters.
U.S. Treasury yields eased for a second consecutive day and the dollar rose on Wednesday after Federal Reserve Chairman Jerome Powell said there is a risk the U.S.
Asian stock markets fell on Wednesday, extending Wall Street's overnight losses amid concerns over inflation and the possibility of recession, which also boosted the safe-haven dollar.
Global stock markets slipped for the second straight day on Wednesday and bond yields inched lower on growing fears that policymakers bent on dampening inflation will tip their economies into recession.
Stocks on global indexes mostly edged lower and Treasury yields eased on Wednesday as investors weighed comments by Federal Reserve Chairman Jerome Powell, who said there is a risk the U.S.
The dollar edged higher on Wednesday, keeping its index against major peers nestled below a two-decade high struck two weeks ago, with investors seeking safety in U.S.
The euro steadied on Wednesday after falling to a six-day low, reacting to the release of conflicting inflation data in Germany and Spain that created a difficult backdrop for European Central Bank policymaking.
The euro gave back earlier gains on Wednesday after European Central Bank President Christine Lagarde said the era of ultra low inflation that preceded the pandemic is unlikely to return.
Oil prices fell on Wednesday after rising in the previous three sessions but losses were limited on the view that global supply tightness will continue as there is limited room for major producers such as Saudi Arabia to boost production.
Oil prices fell on Wednesday, taking a break after gaining for three sessions, as concerns about the global economy weighed while tight supply curbed losses.
Oil prices gained for a fourth straight session on Wednesday as data showed a drawdown in U.S.
Oil prices slid about 2% on Wednesday as a rise in U.S.
Japanese retail sales rose for a third straight month in May, reinforcing views that strong consumption will lead an economic rebound this quarter, although rising inflation poses a risk to household spending for the rest of 2022.
The Bank of Japan will maintain its ultra-loose monetary policy as the economy has not been affected much by the global inflationary trend, Governor Haruhiko Kuroda said, stressing the country's 15-year experience with deflation is keeping wage growth subdued.
Issuers of bonds that raise cash for "green" projects should voluntarily apply industry standards to avoid hoodwinking investors, Britain's Financial Conduct Authority (FCA) said on Wednesday.
The United States on Tuesday imposed sanctions on over 100 targets and banned the import of new Russian gold, increasing pressure on Russia following its invasion of Ukraine in line with commitments made by the G7 this week.
A senior official at the World Bank has ramped up its calls for changes in sovereign debt laws so governments have more control when crises strike and they have to restructure their debt.
Travel and leisure shares propped up U.S. stock index futures after China relaxed some COVID-19 quarantine requirements for international travelers, raising hopes of a revival in global growth.
Travel and leisure shares positioned U.S. stock indexes for a higher open on Tuesday after China relaxed some COVID-19 quarantine requirements for international travelers, raising hopes of a revival in global growth.
