Breaking News
Dec 16, 2022
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The Central Bank of Russia held its key lending rate at 7.5% and cited elevated inflationary pressure. The central bank also lowered its 2022 inflation estimate to 12.0% from 12.6%.
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Oil futures declined 2% and extended three-week slide as recession worries dominated market sentiment. Brent crude in London fell to $79 and WTI crude in New York dropped to $74 a barrel.
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European markets declined 1% and extended weekly loss to over 3% and dropped to one-month on the worries of economic slowdown.
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The Swiss National Bank lifted its policy rate by 50 basis points to 1.0% and held its 2023 inflation outlook at 2.4%.
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The Bank of England raised its key lending rate by 50 basis points to 3.5% and held out for additional rate increases citing persistent inflationary pressures.
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The European Central Bank lifted its deposit policy rate by 50 basis points to 2.0%, the refinancing rate to 2.5% and the marginal lending rate to 2.75%.
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Market selloff on Wall Street accelerated and indexes dropped 2% after retail sales declined in November and weekly jobless claims rose to a 2-month high.
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Retail and food services sales fell 0.6% in November from the previous month and the sales decline was the largest in the year so far, the U.S. Census Bureau reported Thursday.
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Tesla CEO Elon Musk sold 22 million shares for $3.6 billion this week between Monday and Wednesday and accelerated 2022 stock sale to $23 billion, according to regulatory filings.
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Lennar Corp said revenues in the fiscal Q4 rose 21% to $10.2 billion and net income increased to $1.3 billion or $4.55 a share from $1.2 billion or $3.91 a share in the quarter a year ago.
Dec 15, 2022
