Stocks rose sharply on Thursday after the Federal Reserve hinted at possible interest rate cuts as soon as next month.US Marketsread more
The billionaire investor believes the stock market is in a "zone of fair value" at current levels.Marketsread more
The Federal Reserve may be on its way to delivering a half-point interest rate cut next month, according to Goldman Sachs economists.Economyread more
However, Slack chief Stewart Butterfield says, "The broader world of email will stick around."Technologyread more
Crude oil prices jump on news of the attack, which Iran says happened over its territory.World Politicsread more
Apple is considering moving some production from China as it is expected release of its new iPhone line this fall, The Wall Street Journal reported.Technologyread more
Workplace messaging firm Slack is about to go public in a red-hot IPO market, but it's approach to going public--using a "direct listing"--is slightly different than an IPO.Trader Talk with Bob Pisaniread more
The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday.Bondsread more
National Securities' Art Hogan sees the U.S.-China trade war as the market's biggest risk – not Fed policy.Trading Nationread more
The Philadelphia Federal Reserve's manufacturing gauge tumbled this month, solidifying the Fed's case for easier monetary policy.Economyread more
Declining traffic to Olive Garden, Darden's top restaurant chain, resulted in weaker-than-expected revenue for its fiscal fourth quarter.Restaurantsread more
China's central bank told some commercial banks in January to moderate their pace of lending, four sources with direct knowledge of the matter said on Friday, as it seeks to manage the amount of credit flowing into the economy.
In its guidance, the People's Bank of China (PBOC) also told the lenders that the pace and size of loans granted should not fall below the level from the same period a year earlier.
Loan growth is usually strong in January as Chinese banks tend to front-load loans early in the year to win market share.
At the same time, the PBOC has been offering ample liquidity to the market and has been urging banks for months to keep lending to cash-strapped companies, particularly smaller, private firms.
Analysts say reviving weak credit growth will be key to steadying China's cooling economy, but policymakers are closely watching to ensure loans are used for real business activity, not speculation.
"The (loan) injection was too much, and (we) need to tap on the brakes," said one of the sources close to the central bank.
Excess loan growth is not compatible with effective credit demand in real economy, and excess expansion in granting loans could lead funds to flow into undesirable areas, said a second source.
"(We) got the notice by phone. Credit lending was indeed very strong, given there are certain regulatory requirements," said a third source at a major bank who received PBOC's window guidance.
The PBOC has yet to respond to Reuters query for comments.
A central bank official said earlier this month that China will maintain 'appropriate' growth in total social financing, adding that current liquidity level in China's banking system is reasonably ample.
In December, Chinese banks extended far more new loans than expected, bringing last year's tally to a record $2.4 trillion as Beijing.
However, weaker sales and profits are making some firms reluctant to borrow. OCBC estimates new corporate loans in the fourth quarter were half the levels seen in the first nine months of the year.