The outlook for U.S.-China trade relations is likely to remain challenged after this week’s high-level diplomatic talks showed that President Joe Biden’s team does not plan to wholly abandon the Trump administration’s tough tone in discussions with Beijing. Though Washington and Beijing struck a ceasefire in their tit-for-tat trade feud with last year’s “phase one” agreement, […] Read more
U.S. stocks jumped on Tuesday after a decline in bond yields ushered investors into the beaten-up technology sector. The tech-heavy Nasdaq Composite climbed 4.2%, on pace for its best day since April 2020. Tesla stock soared 17% after a five-day losing streak and headed for its biggest one-day pop since February 2020. Apple, Facebook and Amazon jumped 4% each, while Microsoft […] Read more
Friday’s employment report pointed to further signs of a recovery in the U.S. economy, with 379,000 net jobs added and the unemployment rate falling to 6.2%. But despite the encouraging top-line numbers, the job-market’s 2020 swoon and its 2021 recovery have not fallen equally across the U.S. labor force. Employment data was worse for minority groups, […] Read more
China stands a good chance of doubling the size of its economy by 2035 — and surpassing the U.S. as the world’s largest economy along the way, said an economist from the Bank of America. As China seeks to become an advanced nation, Chinese President Xi Jinping said in November that it was possible to double the country’s gross domestic […] Read more
Growing inflation concerns, optimism the economy could surge and some technical factors are combining to drive interest rates higher at a rapid clip. But on Thursday, for the first time, the market has begun to question how long the Fed can stay on hold when the economy could come thundering back. Interest rates on the […] Read more
The Dow Jones Industrial Average bounced back from steep losses and closed the session in the green on Tuesday after Federal Reserve Chair Jerome Powell relieved some of the concerns about higher interest rates and inflation. The blue-chip Dow wiped out a 360-point loss and closed 15.66 points higher, or 0.1%, at 31,537.35. The S&P […] Read more
Bitcoin slumped for a second day Thursday, taking the digital currency’s losses to more than 10% over 48 hours and wiping off billions of dollars from the crypto market. The price of bitcoin slipped 8% on Thursday to as low as $31,007, falling below the $32,000 level for the first time since Jan. 11, according to […] Read more
Thinking of investing in a cryptocurrency? Be prepared to lose all your money. That’s the message from the U.K.’s Financial Conduct Authority, which on Monday warned investments and lending products related to crypto come with “very high risks.” “The FCA is aware that some firms are offering investments in cryptoassets, or lending or investments linked […] Read more
LONDON — The Irish foreign minister said a post-Brexit trade deal is expected Thursday, after a “last-minute hitch” delayed an announcement. Simon Coveney told RTE radio it will be an “enormous relief” when the deal is finally announced. Press conferences originally slated for early Thursday have been delayed as both sides finalize the “small text” of […] Read more
British grocery stores are stockpiling food amid the possibility of a no-deal scenario as Brexit trade deal negotiations between the EU and U.K. go down to the wire. The supermarkets have reportedly been told by government ministers to hoard non-perishable goods, according to the Sunday Times newspapers, with lawmakers saying a “no-deal Brexit is on […] Read more
