Next Week News

A report released by the Labor Department on Thursday showed a modest increase in first-time claims for U.S. unemployment benefits in the week ended November 5th. The Labor Department said initial jobless claims crept up to 225,000, an increase of 7,000 from the previous week's revised level of 218,000.

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Australia's wage price index climbed 3.1 percent on year in the third quarter of 2022, the Australian Bureau of Statistics said on Wednesday - exceeding expectations for 3.0 percent and up from 2.6 percent in the second quarter.

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However, the Fed chair warned, “History cautions strongly against prematurely loosening policy” and he “will stay the course until the job is done.”

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Australia posted a merchandise trade surplus of A$12.217 billion in October, the Australian Bureau of Statistics said on Thursday.

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European Central Bank President Christine Lagarde said there will be more interest rate hikes in future, at a steady pace, as the euro area is expected to undergo a shallow recession and inflation in the single currency bloc is set to remain uncomfortably high for a long time.

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The Institute for Supply Management released a report on Wednesday showing U.S. manufacturing activity contracted at a slightly faster rate in the month of December. The ISM said its manufacturing PMI edged down to 48.4 in December from 49.0 in November, with a reading below 50 indicating a contraction. Economists had expected the index to slip to 48.5.

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In other words, it’s time to put eyes on these AI stocks to watch in 2023 as the sector explodes.

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Interest rates are at their highest level since 2007, just before that decade’s financial crisis.

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Following ten consecutive interest rate hikes, the Federal Reserve on Wednesday announced its widely expected decision to pause its rate increases. The Fed said it has decided to maintain the target range for the federal funds rate at 5 to 5.25 percent, marking the first time the central bank has left rates unchanged since January 2022.

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Turkey's consumer price inflation increased somewhat in November to the highest level in nearly a year, figures from the Turkish Statistical Institute showed on Monday.

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