Author: Press Room
Investors in the U.S. may be coming off Easter weekend eager to trade. Many stock exchanges—including in the U.S., Canada, and the U.K.—were closed on Good Friday. Last week, the Dow Jones Industrial Average climbed 0.6%, the S&P 500 fell 0.1%, and the Nasdaq Composite dipped 1.1%. Keep reading to see what market participants should know about trading hours on Easter Monday. Is the U.S. Stock Market Open Today? The New York Stock Exchange and the Nasdaq Stock Market will resume regular hours and open at 9:30 a.m. Eastern on Monday. Trading for stock-index futures resumed on Easter Sunday at…
By Mary de Wet CSX Corp. said Friday that it has reached an agreement with the Sheet Metal, Air, Rail and Transportation Workers-Mechanical Department to provide paid sick leave benefits. This would be the latest union group that the Jacksonville, Fla.-based railroad has agreed with on sick leave benefits. A lack of paid sick time in the industry was one of the reasons many rail workers voted down a contract with the railroads last fall, nearly causing a nationwide transportation strike. “CSX continues to work collaboratively with all of our union partners to find solutions that improve the quality of…
The Internal Revenue Service is getting specific on how it wants use $80 billion in extra funding over a decade to bolster top-end tax enforcement, and shore up customer service for millions of taxpayers.Everyday taxpayers can expect more ways to quickly deal with the IRS online and over the phone, while getting help from the agency spotting possible errors before filing or alerts to eligible tax breaks. Meanwhile, wealthy taxpayers and large corporations can expect extra scrutiny on complex tax returns to make sure they’ve paid their full tax obligation, according to a spending plan IRS and Treasury Department officials…
The commercial real-estate sector is headed for a “real mess” but not necessarily a financial disaster, a leading economist said Monday. “I expect a major correction in commercial real estate is already under way,” said Adam Posen, president of the Peterson Institute for International Economics. The cause is not complicated. Office occupancy is “lastingly” down 30% to 40% since the start of the pandemic, he said. Even if the problem is that simple to diagnose, the cure has been slow in coming. The whole industry seems frozen in place. “We haven’t seen smooth repricing or terribly transparent repricing of the…
5/5 © Reuters. Delivery trucks are parked at a parking area along the highway in Chiba, east of Tokyo, Japan April 6, 2023. REUTERS/Issei Kato 2/5 By Mariko Katsumura and Satoshi Sugiyama TOKYO (Reuters) – Truck driver Yuichi Tomita has been delivering packages all over Japan for two decades, often clocking 40 straight hours on the road. He says the work is tough but a source of pride, and one he’s never thought of quitting – until now. On April 1, 2024, the government will limit truck drivers’ annual overtime to 960 hours, among other reforms officials say are meant…
By Stephanie Kelly and Liz Hampton (Reuters) – OPEC’s surprise oil production cuts could lead to higher demand for U.S. oil in Europe and Asia and could encourage some other producers to boost output, industry executives and analysts said on Monday. On Sunday, the Organization of the Petroleum Exporting Countries and allies pledged to cut production beginning next month by 1.16 million barrels per day (bpd). Oil prices jumped over 6% on Monday, with futures topping $80 per barrel. Middle East producers’ curbs will leave markets short by an average of 2.3 million bpd in the second half of 2023,…
By Ambar Warrick Investing.com — The Japanese yen led gains across Asian currencies on Tuesday, while the dollar retreated as traders grew less concerned over an imminent banking crisis and pivoted into more risk-driven assets. The surged 0.8% to 130.58 against the dollar, sharply reversing overnight losses. The currency, which usually acts as a safe haven, was also seen benefiting from some consolidation of overseas profits by Japanese firms ahead of the end of Japan’s financial year on Friday. An uptick in Japanese business-to-business services inflation also showed that underlying price pressures remained high in the country, which could invite…
By Giuseppe Fonte ROME (Reuters) -Italy’s government plans to cut its 2024 economic growth forecast, people familiar with the matter said, as it weighs the negative impact of rising interest rates and difficulties in spending EU post-COVID recovery funds. Rome will publish new estimates next week for this year and next in its Economic and Financial Document (DEF), which will also carry a warning that the delays in investing those European Union transfers are likely to worsen, two sources said. Italy last November targeted a growth rate for the euro zone’s third-largest economy of 0.6% this year and 1.9% in…
It is no exaggeration to say that India’s United Payments Interface (UPI) real-time payments system has been a game changer for the subcontinent. In a nutshell, UPI has transformed how Indians make payments, allowing them for the first time to easily transfer money instantly from one bank account to another: from a customer to a business, or between individuals. In the roughly seven years since it was launched, UPI has accrued 260 million users in a population of 1.4 billion and been a decisive factor in India’s embrace of cashless payments thanks to its ease of use and interoperability. Mastercard’s…
TL;DR We’ve seen a ton of new employment data out this week, including the ADP private payrolls report, the broader unemployment report and new jobless claims numbers It is showing a trend of a weakening job market, which is good news for companies and investors who are hoping for some respite from rising interest rates Layoffs continue to be part of this trend, but they’ve spread beyond the high growth tech industry and are now hitting even ‘recession proof’ companies like McDonalds and Walmart Top weekly and monthly trades Subscribe to the Forbes AI newsletter to stay in the loop…
