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China's central bank is keeping a close eye on inflation after a recent spurt in the price of pork, eggs and other food, Zhou Xiaochuan, governor of the People's Bank of China, said on Tuesday.
Federal Reserve Chairman Ben Bernanke predicted Tuesday the economy will rebound from an anemic performance at the start of the year even if the housing slump continues. Economic growth in the first three months of this year nearly stalled, logging just a 0.6% pace. It was the worst quarterly showing in more than four years.
The dominant service sector grew at its fastest rate in a year in May, confounding market expectations for a slightly slower pace, according to a report released on Tuesday.
British service sector activity grew slightly more than expected in May but companies raised prices at their weakest rate in more than a year, a survey showed on Tuesday.
The above were the words of Henry Kravis, recently celebrating the success of the private equity industry. Kravis and his peers are in the headlines like never before, the cost of capital below the earnings yield of target companies is providing a powerful dynamic for the deals to continue.
Australia's trade deficit was less of a drag on the economy than first thought last quarter, adding to a raft of evidence that growth was picking up sharply and underlining the risk of higher interest rates in the longer run.
Stocks closed with modest gains as investors shrugged off sharp declines in China and higher energy prices amid continued mergers and acquisitions activity. "Right now we're in a glass-half-full type of mood," said Al Goldman, chief market strategist at A.G. Edwards. "The market just doesn't seem to go down."
The dollar declined broadly as the U.S. currency failed to extend gains after last week's robust jobs data, while demand for currencies linked to rising interest rates strengthened.
Leaders of the G8 powers will call this week for greater vigilance on hedge funds in the hope that the industry will take it upon itself to prevent accidents like the collapse of LTCM in the late 1990s.
Japanese firms' capital spending in January-March rose slightly more than expected from a year earlier to a record high, a sign that corporate-sector strength continues to underpin a steady economic recovery.
Stocks closed with broad gains after strong economic data pushed the Dow and S&P 500 to new highs. "We thought probably the dance music would probably slow down by now but with the wave of mergers and $2.5 trillion dollars cash on the sidelines, it looks like the party will go on for a while," said Fred Dickson, chief market strategist at DA Davidson.
The dollar rose to a seven-week high against the euro, on track for a fifth consecutive week of gains, as strong U.S. jobs and manufacturing data damped expectations of a Federal Reserve interest rate cut this year.
The number of new U.S. jobs climbed by an unexpectedly brisk 157,000 in May, while factoryactivity improved and consumers remained upbeat, according to data Friday which suggested the economy was bouncing back.
Despite rumors to the contrary, individual investors are participating in the current market rally. But instead of buying individual stocks, many are putting money into mutual funds--especially those that invest in foreign stocks.
U.S. manufacturing grew a bit more rapidly in May as factory managers restocked depleted inventories, according to a survey published on Friday.
The buzz in Asia has been about China tripling stamp duties on stock trades. And if there is any truth in the latest rumors swirling around, a capital gains tax on shares is on the horizon, though Chinese officials have been quick to dismiss it. The same officials who on May 22 denied rumors of an increase in stamp tax, which was announced just a week later. The dust will have plenty of time to settle over the weekend. Expect Chinese markets to continue hogging everyone’s attention throughout the upcoming week.
Euro zone quarterly economic growth slowed as expected at the start of the year as consumer demand contracted and export growth plunged, data from European Union statistics office Eurostat showed on Friday.
South Korean exports in May rose at a faster-than-expected pace, data showed on Friday, reinforcing expectations for a pickup in growth in Asia's fourth-largest economy.
Stocks closed mixed as investors awaited key employment data out Friday, but the market overall ended the month of May with solid gains. The Dow Jones Industrial Average, which edged lower on Thursday, finished up 4.4% for the month. The Nasdaq closed higher and was up 3% for May. The S&P 500, which closed at a new record high for the second straight day, rose 3.4% for the month
The dollar touched a three-month peak against the yen after a strong report on business activity in the U.S. Midwest, but it failed to sustain gains before key payrolls data due on Friday.