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...The response in financial markets was subdued, with the yield on the interest rate-sensitive two-year Treasury edging flat and the S&P 500 stock index dipping 0.2 per cent....
...I don’t think in my career I’ve ever seen a law have a greater impact on economic development in this country,” said Gregory Wetstone, chief executive officer of the American Council on Renewable Energy,...
...S&P is three years on from completing the purchase of analytics group IHS Markit for $44bn and chief executive Doug Peterson told analysts earlier this month that the company was open to “tuck-in acquisitions...
...Meanwhile, S&P Global will release its purchasing managers’ indices for manufacturing and services, with February readings expected to dip slightly from January levels....
...By the time Tesla was included in the S&P 500 index, it had already become the sixth-largest US company by market capitalisation....
...We still expect there will be some slowdown, but it’s likely to be pushed back until the second half of the year,” said Satyam Panday, chief US economist at S&P Global Ratings....
...Elijah Oliveros-Rosen of S&P Global Ratings points out that a lot of the debt issued in 2020 will come due between 2025 and 2027....
...Ruth Gregory, economist at Capital Economics, said the readings supported “our view that a mild recession is under way and that the Bank of England has finished hiking interest rates”....
...The S&P had edged upwards 0.1 per cent by midday trading on Friday, after losses earlier in the week....
...Despite inflation cooling in October, “cost fatigue — the perception that the cost of everything is higher than pre-pandemic” remains, said Gregory Daco, EY’s chief economist in a report....
...to S&P Global Ratings’ definitions....
...“Across the board, it’s a good report,” said Gregory Daco, chief economist at EY Parthenon....
...Ruth Gregory, economist at Capital Economics, said: “With wage expectations of businesses remaining elevated, higher wages are becoming embedded in businesses’ future budgets.”...
...“This is a point of minimum — rather than maximum — confidence,” as Joseph Gagnon of the Peterson Institute told the FT last week....
...The benchmark S&P 500 index is up 13.6 per cent this year....
...Adam Posen of the Peterson Institute of International Economics has argued powerfully that they cannot. I am not convinced. They changed in the late 1970s on a far bigger scale....
...US stocks reversed early gains, leaving the S&P 500 and Nasdaq Composite both down about 0.6 per cent at Thursday’s closing bell....
...The further rebound in retail sales volumes in May suggested “the recent resilience in economic activity hasn’t yet faded”, said Ruth Gregory, economist at Capital Economics....
...The FTSE 100 has lagged far behind New York’s benchmark S&P 500 and Europe’s region-wide Stoxx 600 in 2023. But some argue that UK stocks suddenly have the wind at their backs....
...Meanwhile, the S&P 500 posted a total return of 17 per cent in the first half of this year and the US Federal Reserve funds rate, a proxy for risk-free returns for investors, is 5.25 per cent....
...There was invariably jazz played at home, and he memorably took me to see Oscar Peterson play one of his last concerts, which truly stoked my passion for the music....
...The construction purchasing managers’ index from S&P Global and CIPS UK, which measures month-on-month changes in industry activity, fell from 59.1 in March to 58.2 in April....
...“Rates will need to rise further” despite the risk of recession, in order to “lean against the risk that inflation becomes sticky as wages rise”, said Gregory....
...EU, France, Germany, Japan, UK, US: Cips/S&P Global manufacturing and services purchasing managers’ index (PMI) data UK, public sector net borrowing data UK, Kantar’s monthly supermarket sales, market...
...Despite these challenges, the final reading of the British manufacturers’ purchasing manager’s index, compiled by S&P Global, rose to 55.8 in April, up from 55.2 in March....
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