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May 25, 2018

08:13Fed Officials Say Raising Rates Gradually Remains the Best Approach -

By Paul Kiernan DALLAS — Two Fed officials said Friday they remain committed to a gradual path of interest-rate increases, indicating they see no need to lift borrowing costs more aggressively because of firming inflation. “There are a host of reasons why I think we need to be moving gradually, not the least of which […]

07:52U.S. Treasury Bonds Surge After Weak Data, Shifting Sentiment -

By Daniel Kruger U.S. government bonds rallied Friday, wrapping up a week in which tepid economic data and an apparent shift in the Federal Reserve’s approach to inflation sent yields to their biggest weekly decline in more than a month. The yield on the benchmark 10-year Treasury note fell to 2.931% from 2.981% on Thursday […]

05:53Trump Team Seeks Truce with Congress Over ZTE –Update -

By Kate O’Keeffe, Bob Davis and Lingling Wei As the Trump administration puts together another trade mission to China next week, it is scrambling on Capitol Hill to keep lawmakers from undermining trade talks by blocking a deal to roll back penalties on Chinese telecommunications giant ZTE Corp. President Trump has been moving closer to […]

12:45U.S. Durable Orders Slip in April; Capital Spending Improves -

By Eric Morath and Sharon Nunn WASHINGTON–Demand for long-lasting U.S factory goods fell in April due to a decline in aircraft orders, but a proxy for business investment showed solid growth last month. Orders for durable goods–products designed to last at least three years, such as computers and machinery–declined 1.7% from the prior month to […]

08:50UK Business Investment Slips in 1Q 2018 -

By David Hodari and Wiktor Szary LONDON–Business investment in the U.K. posted its weakest quarterly growth in almost three years in the first three months of 2018, in a further sign of slow economic growth and uncertainty surrounding Brexit. Capital expenditure by British businesses fell by 0.2% in the first three months of the year, […]

08:42German Business Sentiment Stabilizes in May -

By Nina Adam FRANKFURT–The recent slide in German business sentiment came to a halt in May, a survey by Germany’s Ifo institute showed Friday in a sign that economic activity is stabilizing following a surprisingly weak start to the year. The Ifo business climate index came in at 102.2 in May, unchanged from April and […]

06:48What’s News: World-Wide — WSJ -

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (May 25, 2018). Trump canceled plans for a summit with North Korean leader Kim, citing “open hostility” from the Pyongyang regime, as the White House considered fresh sanctions. […]

May 24, 2018

10:20Congressional Budget Office’s Long-Term Deficit Forecast Dwarfs White House Estimate — Update -

By Harriet Torry WASHINGTON — The Congressional Budget Office estimates the government will take in $1.9 trillion less in revenue and spend $300 billion more over the next decade than the White House estimated under its latest budget proposal if the plan were enacted. President Donald Trump in February proposed a $4.4 trillion budget that […]

09:40Correction to Congressional Budget Office’s Long-Term Deficit Forecast Dwarfs White House Estimate -

The U.S. government’s fiscal year begins Oct. 1. “Congressional Budget Office’s Long-Term Deficit Forecast Dwarfs White House Estimate,” at 3:20 p.m. ET, incorrectly stated in the last paragraph that the year begins Sept. 30. (May 24, 2018) (END) Dow Jones Newswires May 24, 2018 17:40 ET (21:40 GMT) Copyright (c) 2018 Dow Jones & Company, […]

09:28Trump Identifies His Trade Weapon of Choice, to the Dismay of Congress — Update -

By William Mauldin and Siobhan Hughes President Donald Trump’s use of a national security law to threaten tariffs on imported cars drew widespread criticism Thursday, including sharp rebukes from senior members of his own Republican Party. Lawmakers, the auto industry and foreign trade partners were among those lambasting Mr. Trump’s move Wednesday to order a […]

08:15U.S. Government Bond Prices Jump on Dovish Fed, Trump’s Tariff Proposals -

By Daniel Kruger U.S. government bond prices rose as investors reassessed the economic landscape following dovish minutes from the Federal Reserve’s May meeting and new tariff proposals from President Donald Trump. The yield on the benchmark 10-year Treasury note fell for a second consecutive session to 2.981% from 3.003% Wednesday, notching its biggest two-day decline […]

07:35Congressional Budget Office’s Long-Term Deficit Forecast Dwarfs White House Estimate -

By Harriet Torry WASHINGTON — The Congressional Budget Office estimates President Donald Trump’s 2019 budget proposal will result in deficits in 2027 and 2028 that are more than double the White House’s estimates. Under the Trump budget, the federal deficit would total $965 billion in fiscal 2027 and $1.1 trillion in 2028, CBO said in […]

07:24BOE’s Carney: Rate Rise Plans Could Change in Response to ‘Sharper’ Brexit -

By Paul Hannon The Bank of England could forgo planned rises in its key interest rate, or even ease policy, if the U.K.’s departure from the European Union were to be “sharper” than it expects, Gov. Mark Carney said Thursday. The BOE has said if the economy grows around 1.75% a year, it would raise […]

06:27U.S. Existing Home Sales Fell in April — Update -

By Laura Kusisto and Sarah Chaney WASHINGTON — Sales of previously owned U.S. homes declined in April, as inventory shortages and rising prices weigh on the market and higher mortgage rates begin to pose a threat to demand for the first time in years. Existing-home sales fell 2.5% in April from the prior month to […]

12:45U.S. Jobless Claims Rose to 234,000 Last Week -

By Ben Leubsdorf WASHINGTON–The number of Americans filing new applications for unemployment benefits rose again last week but remained near historically low levels. Initial jobless claims, a proxy for layoffs across the U.S., increased by 11,000 to a seasonally adjusted 234,000 in the week ended May 19, the Labor Department said Thursday. Economists surveyed by […]

12:14Swamped by Growth, Silicon Valley Weighs Taxing Big Employers -

By Nour Malas The Silicon Valley cities that are home to Google and Apple Inc. are considering the kind of per-employee tax that Seattle recently drew criticism for imposing. Mountain View, Calif., and nearby Cupertino are both weighing possible ballot measures this fall. Officials said the taxes could raise money to help manage local problems […]

12:01CURRENCIES: Dollar Pulls Back From 2018 High As Traders Eye Threat Of Fresh Tariffs -

By Sara Sjolin, MarketWatch Lira resumes selloff; pound climbs after strong retail data The U.S. dollar declined on Thursday, pulling back from a 2018 high on renewed trade-war jitters after the Trump administration said it was investigating whether to slap import tariffs on cars. Meanwhile, the U.K. pound gained strength on the back of better-than-expected […]

09:48LONDON MARKETS: FTSE 100 Edges Lower As Pound Climbs After Strong Retail Sales Data -

By Sara Sjolin, MarketWatch Pound rebounds from 2018 low U.K. stocks tipped lower on Thursday after the pound rallied on the back of better-than-expected retail sales data that brought an August Bank of England interest rate rise back into play. What are markets doing? The FTSE 100 index fell 0.1% to 7,784.19, adding to a […]

08:55UK Retail Sales Rebound in April -

By David Hodari LONDON–U.K. retail sales bounced back in April, recovering from a spell of bad weather March in a positive signal for the economy after a spell of weak data over recent months. Retail sales climbed 1.6% in April compared with March, the Office for National Statistics said Thursday, with all sectors apart from […]

08:13LONDON MARKETS: FTSE 100 Searches For Impetus, With Retail Sales Data On Deck -

By Sara Sjolin, MarketWatch Pound rebounds from 2018 low U.K. stocks swung between small gains and losses early on Thursday, with traders remaining cautiously on the sidelines ahead of a reading on retail sales, which could influence the path for U.K. interest rates. What are markets doing? The FTSE 100 index rose 0.1% to 7,793.92, […]

07:03French Manufacturing Confidence Stable in May -

By William Horobin PARIS–Business confidence in French manufacturing was stable in May at a level above the long-term reading for the indicator, national statistics agency Insee said Thursday. French business confidence was unchanged at 109 in May from April, while economists had forecast a slight decline. The long-term average for the indicator is 100. Insee’s […]

06:47What’s News: World-Wide — WSJ -

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (May 24, 2018). The Trump administration is using national-security laws to consider imposing new tariffs on vehicle and auto-parts imports. The president is asking for tariffs of as […]

06:38Germany’s Economic Growth Slowed in First Quarter -

By Emese Bartha Germany’s economy grew at a slower pace in the first quarter of 2018 than in the last quarter of 2017, reducing the likelihood of another year of stellar growth rates. Europe’s largest economy grew by 0.3% on the quarter and by 2.3% on the year, the Federal Statistical Office Destatis said Thursday, […]

06:14German Consumer Sentiment Set to Decline Slightly in June -GfK -

By Emese Bartha ​FRANKFURT–​German consumer sentiment is set to weaken in June but consumers still take a relaxed view of the escalating geopolitical situation, market research group GfK said in its monthly survey on Thursday. GfK’s forward-looking consumer confidence index is set to ease to 10.7 points in June from 10.8 points in May, it […]

May 23, 2018

08:58Trump Weighs New Tariffs on Imported Vehicles — 2nd Update -

By William Mauldin, Kate O’Keeffe and Timothy Puko WASHINGTON — The Trump administration is considering a plan that would impose new tariffs on imported vehicles on national-security grounds, according to industry officials briefed on broad outlines of the plan. President Donald Trump has already used a legal provision known as Section 232 to impose global […]

08:53IRS Warns States on Their Workarounds to Tax Overhaul -

By Joseph De Avila The Trump administration will soon issue regulations addressing state legislation aimed at softening the loss of some deductions under the federal tax overhaul, the Treasury Department and Internal Revenue Service said Wednesday. The IRS and Treasury Department said they would be issuing the new rules in the near future in what […]

08:33Trump Weighs New Tariffs on Imported Vehicles — Update -

By William Mauldin, Timothy Puko and Kate O’Keeffe WASHINGTON — The Trump administration is considering a plan that would impose new tariffs on imported vehicles on national-security grounds, according to industry officials briefed on broad outlines of the plan. President Donald Trump has already used a legal provision known as Section 232 to impose global […]

08:26U.S. Government Bonds Strengthen With Rise in Geopolitical Tensions -

By Akane Otani U.S. government bond prices rose as an uptick in geopolitical tensions drove investors into the safety of sovereign debt. The yield on the benchmark 10-year U.S. Treasury note settled at 3.003%, compared with 3.065% Tuesday, notching its largest one-day decline since March 22. Yields, which fall as bond prices rise, declined overnight […]

08:25Trump Administration Weighs New Tariffs on Imported Vehicles -

*Trump Administration Considering Plan to Apply New Tariffs on Imported Vehicles — Industry Sources *Trump Administration Eyeing ‘Section 232’ Investigation of Car Imports on National-Security Grounds – Sources *Trump Administration’s Car-Import Case Would Involve Investigation by Commerce Department, Potential Tariffs From White House *President Trump Already Used ‘Section 232’ Law to Levy Global Tariffs on […]

06:15Fed Minutes Signal Rate Increase in June -

By Nick Timiraos WASHINGTON-Federal Reserve officials at their meeting earlier this month signaled they were likely to raise their benchmark short-term interest rate at their June meeting, and they debated how to characterize an evolving policy strategy that soon would no longer try to stimulate economic growth. If the economy performs as expected, “it would […]

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