S&P, Nasdaq Head Higher After Fed Slows Tightening
The S&P and Nasdaq climbed, but the Dow fell, after the Fed further slowed its pace of interest-rate increases, reinforcing hopes it could begin to ease later this year.
Global Minimum Tax Deal Advances
International officials are moving ahead with their tax increases while giving U.S. companies a temporary break from some increases in hopes of prompting the U.S. to implement the deal.
Russia Claims Gains in Battle for Bakhmut
Russian forces said they had made new advances in their effort to encircle the eastern Ukrainian city, while European leaders arrived in Kyiv to discuss further military aid.
ECB Raises Interest Rate by Half Percentage Point
The bank signaled it would raise rates by another half percentage point in March, as resilient economic growth is expected to keep inflation high. The Bank of England earlier increased rates by the same amount.
New York Fed Names Economist to Top Markets Post
Roberto Perli, the head of policy research at Piper Sandler, will succeed Lorie Logan, who became the Dallas Fed president last year.
Social Security, Medicare Cuts Sidelined in Debt-Ceiling Talks
The programs face funding shortfalls in coming years but remain politically perilous to both parties.
U.S. Jobless Claims Edged Down Last Week
Initial jobless claims fell by 3,000 to a seasonally adjusted 183,000. The proxy for layoffs has trended at low levels this year as large companies announce job cuts.
U.S. factory orders rise in December on strong aircraft orders
Orders for manufactured goods rose 1.8% in December, the Commerce Department said Thursday.
U.S. productivity rebounds in fourth-quarter
U.S. productivity rose at a 3% annual clip in the fourth quarter, while labor cost gains slowed, the Labor Department said Thursday.
Rising Jet-Fuel Costs Threaten to Send Airfares Higher
Prices have jumped, partly because of swelling travel demand as China eases its Covid restrictions.
(END) Dow Jones Newswires
02-02-23 1915ET
