Analysis: History says expect strong December for U.S. stocks, despite Omicron and Fed worries
A pileup of risks into year-end has some investors gauging whether December will continue its historical trend of a strong stock performance, even as markets face of worries over the Omicron coronavirus variant and a more hawkish Federal Reserve.
World Bank trims East Asia, Pacific GDP forecast amid COVID-19 concerns
Growth in East Asia and the Pacific this year will likely be slower than previously thought, the World Bank said on Thursday, as many countries in the region grapple with spikes in COVID-19 cases, new variantsand vaccine supply constraints.
AMC, GameStop shares fall to half of their June peaks
Shares of cinema operator AMC Entertainment (AMC.N) and video game retailer GameStop Corp (GME.N) fell sharply on Wednesday and were both trading below half their recent peak prices, testing the fortitude of the stocks’ retail shareholders.
White House still sees inflation abating, can’t say exactly when
The White House expects supply chain pressures that are fueling higher inflation to abate in the “not-too-distant future,” but cannot say exactly when, a senior official said on Tuesday after June consumer prices showed the biggest gain in 13 years.
UK sees record jump in employee numbers in May
The number of employees on British company payrolls surged by a record amount in May as COVID restrictions eased and pubs and restaurants resumed indoor service, though it still remains more than half a million below its pre-pandemic peak.
World Bank slashes GDP growth forecasts for the Philippines
The World Bank has slashed its Philippine growth projection for this year due to a deeper-than-expected contraction in the first quarter and the reimposition of stricter quarantine measures in the capital region to contain a surge in COVID-19 cases.
