Breaking News
Dec 2, 2022
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The euro and the pound closed higher for the second week in a row.
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European markets closed higher for the seventh week in a row after inflation pressures eased and the euro advanced.
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For the week, the S&P 500 gained 1.1% and the Nasdaq Composite increased 2.1%.
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The European Union agreed to cap the price for Russia's seaborne oil to $60 a barrel in an effort to punish President Vladimir Putin for invading Ukraine.
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Euro zone jobless rate eased to a new record low of 6.5% in October from 6.6% in September, Eurostat said Thursday.
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Natural gas prices continue to soar in the euro zone and traded above
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Germany's retail sales in October declined 2.8% but still 1.8% ahead from pre-pandemic October 2019, Destatis said Thursday.
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The PCE price index increased 0.3% in October from September and rose 6.0% from a year ago, the lowest in the year so far, the U.S. BEA report showed.
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Personal spending in October rose 0.8% following 0.6% in September and personal income increased 0.7%, the most in a year, the U.S. BEA reported Thursday.
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The national average gasoline price dropped to $3.47 a gallon, below $3.54 average on February 24, the day Russia invaded Ukraine, said AAA.
Dec 1, 2022