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Wall Street notches record closing high on earnings, economic strength

A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 19, 2021. REUTERS/Andrew Kelly NEW YORK, July 23 (Reuters) – Wall Street gained ground for the fourth straight session on Friday, extending a rally that pushed all three major U.S. stock indexes […]

Rupee losses 84 paisas to hit nine-month low against dollar

KARACHI: The rupee fell 84 paisas to touch a nine-month record low of 162.32 against the dollar on Friday due to the demand pressure for the foreign currency, as the market opened after the Eid holidays. The exchange rate closed at Rs161.48 on July 19, 2021 in the interbank foreign exchange market. The government had […]

Does America face a slowdown in economic growth?

Jul 24th 2021 IT WAS INEVITABLE that global economic growth would slow from the breakneck pace set as economies recovered from the pandemic. Lately, investors have begun to worry about something worse: that America’s economy, which has led the rich-world rebound, could decelerate sharply. As well as supply bottlenecks and the withdrawal of economic stimulus, […]

The anatomy of a growth scare

Jul 24th 2021 SO MUCH IS unfamiliar about the pandemic that it has never been easy to make sense of what is going on. Yet in recent days uncertainty has gone into overdrive. Stockmarkets are volatile; uncertainty about the path of inflation and labour markets is high. The fate of the economic recovery seems to […]

U.S. leading indicator points to further economic recovery in June

Shoppers carry bags of purchased merchandise at the King of Prussia Mall, United States’ largest retail shopping space, in King of Prussia, Pennsylvania, U.S., December 8, 2018. REUTERS/Mark Makela/File Photo July 22 (Reuters) – A gauge of future U.S. economic activity increased in June, suggesting the economy continued to recover from the recession caused by […]

Vietnam Still Trolling Donald Trump With Economic Successes

Vietnamese dong banknotes. MANAN VATSYAYANA/AFP via Getty Images Vietnam just made a deal with the U.S. Treasury Department: we won’t weaken the dong if you take us off the dreaded “currency manipulator” list. It’s actually a bigger victory for Hanoi than Prime Minister Phạm Minh Chính’s government may realize. The mere presence of Vietnam in the Treasury’s […]

Gold fights against the currents of the dollar, rising yields, equities, and crypto

Gold is undoubtedly swimming against strong currents, which are curtailing any move to the upside. Recently it has been struggling successfully to stay above $1800 per ounce. On Monday as well as today, gold prices came close to testing the 100-day moving average, which is currently at $1792.10, and on both occasions closed just […]

Takeout and dining out has never been so popular – how U.S. restaurants survived and now thrive

It’s been a crazy year and a half for the restaurant business, but many of the companies that survived are starting to thrive. Take Darden Restaurants DRI, +2.26%, owner of the popular chains Olive Garden and Longhorn Steakhouse. Sales at Darden sank 43% to $1.27 billion in the three months that ran from March to […]

For most emerging market central banks, the only way is up

FILE PHOTO: Brazilian Real and U.S. dollar notes are pictured at a currency exchange office in Rio de Janeiro, Brazil, in this September 10, 2015 photo illustration. REUTERS/Ricardo Moraes LONDON, July 21 (Reuters) – While top central banks such as the Federal Reserve, the ECB and the Bank of Japan may be sitting on their […]

Heather Boushey: ‘The guardrails have come off the US economy’

This is part of a series, ‘Economists Exchange’, featuring conversations between top FT commentators and leading economists about coronavirus economic recovery Heather Boushey, a member of US president Joe Biden’s Council of Economic Advisors and one of the architects of the administration’s approach to everything from corporate concentration to inequality, climate change and the caring […]