In this weekly series, we break down seven different things every person needs to know from the world of finance news. We're taking complicated stories and making them simple, easy to understand, and quick to read. Perfect for the man who wants to be in the know, but doesn't have the time to obsess over global markets.
1.) Good News For Americans
- Many jobs are being created and unemployment is at a very low level.
- This is good for the economy, but makes it more likely that US Federal Reserve will raise interest rates at its meeting in two weeks--which would probably be bad for US stocks and bonds but positive for the value of the US dollar versus other currencies.
2.) ECP And The European Economy
- On Thursday, European Central Bank (ECB) President Mario Draghi gave a big hint that the ECB would be there to support the European economy, if China’s slowing economy threatened the European recovery.
- European stocks loved it, but the EUR sold off in response.
3.) Chinese Growth Scare
- Another week, another Chinese growth scare as manufacturing data came in at its weakest level in years.
- Chinese stocks had a volatile week before closing moderately higher amidst signs of government support ahead of a big holiday weekend.
4.) South Korea Reported A Huge Decline In Its Exports
- As South Korea exports a lot to the world’s biggest economies, its reports are closely watched--and the carnage doesn’t say good things about the global economy.
5.) Intel Introduced A New Processing Chip Called Skylake
- It could lead to tablet-like devices that have the power of a computer and it could help revive PC sales – something that has resembled a dying product for the past 5 years.
6.) Canada And Australia News
- Canada slipped into recession and Australian economic growth disappointed.
- These resource-heavy economies have been hard hit as China slows down; both of their currencies have lost a lot of value this year.
7.) Alexis Tspiras Regrets Calling A Snap Election
- Greek PM Alexis Tspiras might regret calling a snap election, as a recent poll suggests it will be a close one.
- The good news for those of us who are tired of talking about Greece is that the next closest party in the polls (New Democracy) is pro-bailout--meaning we shouldn’t have to hear any more lame allusions to Greek tragedies, at least anytime soon.
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