Reuters US Economy

US consumer prices unchanged in May; bolster rate cut expectations

By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer prices were unexpectedly unchanged in May as cheaper gasoline and other goods offset higher costs for rental housing, but inflation remains too high for the Federal Reserve to start cutting interest rates before September. The report from the Labor Department on Wednesday also showed underlying inflation pressures …

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Factbox-Brokerages lift S&P 500 target on hopes for soft landing, rate cuts

(Reuters) -Brokerages have raised their year-end targets for the U.S. stocks benchmark S&P 500, spurred by expectations of a “soft landing” for the economy and growing odds the Federal Reserve will cut interest rates this year. Following are forecasts from some major banks on economic growth, inflation, and how they expect certain asset classes to …

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China’s central bank to return to gold buying as prices ease, analysts say

By Brijesh Patel and Ashitha Shivaprasad SINGAPORE (Reuters) -China, the biggest official sector buyer of gold, is expected to resume its bullion shopping spree once prices ease from the record highs hit in May, as the fundamental case for the metal remains, industry players said at a conference this week. After adding to its gold …

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Brazil’s rate-cutting cycle set to end as prices rise more than expected in May

By Gabriel Araujo SAO PAULO (Reuters) – Consumer prices in Brazil accelerated more than expected in May, data from statistics agency IBGE showed on Tuesday, with a jump in food costs helping drive annual inflation further away from the central bank’s target. The data put the monetary authority’s ongoing easing cycle at risk, economists say, …

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US small business sentiment up in May, but looming election clouds outlook

(Reuters) – U.S. small-business confidence and hiring plans increased in May to their highest levels of the year, but the looming U.S. presidential election also drove uncertainty to nearly a four-year high, a survey showed on Tuesday. The National Federation of Independent Business (NFIB) said its Small Business Optimism Index rose eight-tenths of a point …

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