February 15, 2024
United States:
US Futures Rise, Yields Fall After Retail Sales: Markets Wrap
Stock futures rose and bond yields fell after a slowdown in retail sales bolstered the case for the Federal Reserve to cut interest rates this year.
S&P 500 contracts signaled the US equity benchmark will extend its February gains. Treasury two-year yields, which are more sensitive to imminent Fed moves, fell five basis point to 4.53%. The dollar fluctuated.
https://www.bloomberg.com/news/articles/2024-02-14/stock-market-today-dow-s-p-live-updates
Europe:
Euro-Area Economy Is Losing Momentum, EU Says, Slashing Outlook
The euro-area economy is entering 2024 on a weaker footing than previously expected, according to new European Union forecasts that anticipate another year of subdued growth.
Gross domestic product in the currency bloc will accelerate only slightly to 0.8% this year after 0.5% in 2023, the European Commission said in a report Thursday. In November, it had predicted a more marked improvement to 1.2%. It also cut its 2025 forecast to 1.5%, from 1.6%
Asia:
Japan Loses Its Spot as World’s Third-Largest Economy as It Slips Into Recession
Japan’s economy unexpectedly slipped into recession after shrinking for a second quarter due to anemic domestic demand, prompting some central bank watchers to push back bets on when the nation’s negative interest rate policy will end.
Gross domestic product contracted at an annualized pace of 0.4% in the final three months of last year, following a revised 3.3% retreat in the previous quarter, the Cabinet Office reported Thursday.
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