MARKET WRAPS Watch For: Manufacturing PMI Data for EU, U.K. Italy, France, Germany; 4th anniversary of Ursula von der Leyen taking over as EU chief; U.K. nationwide House Price Index; Italy. -December 01, 2023 at 12:16 am EST
- MarketScreener
EMEA Morning Briefing: Fed Powell Speech in Focus; Soft Data Spur Rate Cut Hopes morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
U.S. manufacturing remained subdued in November, with factory employment declining further as hiring slowed and layoffs increased, more evidence that the economy was losing momentum after robust growth last quarter. Most economists, however, do not expect a recession next year and believe the Federal Reserve will be able to engineer the hoped-for "soft landing." Speaking during an event at Spelman College in Atlanta on Friday, Federal Reserve Chair Jerome Powell said "we are getting what we wanted to get" out of the economy.
Don’t expect Federal Reserve Chair Jerome Powell to say anything to bolster the market’s rising expectations for interest-rate cuts as soon as next March,…