More signs are emerging that the Federal Reserve’s latest hike might be the last in a while.
. Hong Kong's Hang Seng Index climbed 1.47%, and has breached the 20,000 level for the first time in over a month, at the time of publication.China's official manufacturing purchasing managers' index factory activity came in at 49.3 in July. That means factory activity
. The silver lining: activity expanded slightly when compared with June and was higher than expected. Non-manufacturing PMI was 51.5, signaling an expansion — but it was the slowest pace of growth this year.As China's economy grinds on, there's less demand for commodities globally. But India's economic growth — which is forecast to outstrip China's by the end of this decade — might
in demand, according to ANZ. Oil, coal, steel and iron are commodities most likely to benefit from India's growth, the bank said.What's next after the Dow Jones Industrial Average's historic 13-day run of gains? That depends on the July jobs report, out Friday, and earnings reports from Big Tech companies Apple and Amazon. CNBC Pro's Sarah Min breaks downMore signs are emerging that the Federal Reserve's latest hike might be the last in a while.
The headline PCE figure for June came in at 3%, the lowest annual increase since March 2021. Notably, that's just one percentage point over the Fed's target of 2% inflation. In fact, goods and food prices decreased 0.1% for the month, contributing to a plunge of 0.8 percentage points in the headline number from May. This suggests that we might not be too far off from hitting the Fed's goal.
Aside from the inflation data, the Commerce Department reported personal income rose 0.3%, slightly below expectations. That's corroborated by the Labor Department, which said the employment cost index rose 1% in the second quarter, lower than the 1.1% estimate.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CNBC Daily Open: More signs the Fed might stop hikesMore signs are emerging that the Federal Reserve’s latest hike might be the last in a while.
Read more »
SHIB Jumps 5% Following Shibarium Beta Launch, BTC Stands Still Above $29K (Weekend Watch)Aside from SHIB, the other top gainers on a daily scale include QNT and MKR.
Read more »
Daily horoscope for July 29, 2023Get your daily horoscope for July 29, 2023 from astrologer Georgia Nicols.
Read more »
Donations to Arizona Daily Star Sportsmen's Fund Send A Kid to Camp fund qualifies for the Arizona tax creditThanks to Arizona Daily Star readers Southern Arizona boys and girls are going to summer camp.
Read more »
Jaguars open training camp with thoughts of scoring roughly 7 more a game this seasonThe Jacksonville Jaguars opened training camp Wednesday wanting — expecting, really — to score about seven more points a game this season.
Read more »
Local competitors ready for battle at US Open of SurfingSeveral San Clemente surfers are among the competitors hoping a big win here could help land them on next year’s World Tour.
Read more »