China’s central bank unexpectedly cut its key interest rates as it ramps up support for an economy weighed by Covid lockdowns and a deepening property downturn.
European companies have navigated soaring costs, an energy crisis and the impact of the Ukraine war to deliver largely better-than-expected results so far this quarter. The last big batch of earnings this week will test this momentum. German consumer goods maker Henkel will show today how much it has been able to raise prices after industry bellwethers Reckitt and Unilever lifted their sales forecasts. Jewelry maker Pandora will be closely watched for news on prices and savings on Tuesday after
Asian stocks were off sessions highs Monday and the dollar rose as investors reacted to surprise interest-rate cuts in China and data highlighting its economic travails, which are dimming the global outlook.
Temperatures will hit 125°F (52°C) at least once a year in a band stretching from Texas to Wisconsin, researchers say.
The risk of a euro-area recession has reached the highest level since November 2020 as energy shortages threaten to drive already record inflation higher still, according to economists polled by Bloomberg.
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