Dec 1 (Reuters) – A rally in U.S. stocks and bonds powered ahead after a speech by Federal Reserve Chairman Jerome Powell on Wednesday, but some investors believe a looming recession could cap gains in both asset classes.
Though asset prices have been battered by the Fed’s rate rises this year, momentum has been on the side of the bulls in recent weeks. The S&P 500 (SPX) has soared nearly 14% from its October low while yields on the 10-year benchmark Treasury, which move inversely to prices, are down at around 3.6%, from a 15-year high of 4.3% earlier this year.
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UK House Prices Post Biggest Slide Since Mid-2020: Nationwide
LONDON, Dec 1 (Reuters) – British house prices tumbled 1.4% in November compared with October, the biggest monthly drop since June 2020 and the clearest sign yet that the housing market is cooling rapidly, data from mortgage lender Nationwide showed on Thursday.
A Reuters poll of economists had pointed to a fall of 0.3%, following a 0.9% drop in October.
In annual terms, house price growth slowed to 4.4% in November from 7.2% in October, Nationwide said.
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Tesla To Issue Software Updates For 435,000 Cars In China Over Marker Light Issue
SHANGHAI, Dec 1 (Reuters) – Tesla Inc (TSLA.O) will issue software updates for more than 435,000 vehicles in China to fix an issue with side marker lights that could in extreme circumstances lead to a collision, a regulatory body said.
The fix, which counts as a recall, will be issued by an over-the-air update.
It covers 142,277 Model 3 cars and 292,855 Model Ys, according to a statement by the State Administration for Market Regulation.
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Exclusive: U.S. Chamber Of Commerce Warns Against Draft EU Plan To Exclude Non-EU Cloud Vendors
BRUSSELS, Dec 1 (Reuters) – The U.S. Chamber of Commerce and 12 other groups on Thursday warned the European Union against adopting rules that could exclude Amazon (AMZN.O), Alphabet (GOOGL.O) unit Google, Microsoft (MSFT.O) and other non-EU cloud services providers from the European market.
The Chamber, the National Foreign Trade Council, the Japan Association of New Economy, techUK, the Latin American Internet Association, the Computer & Communications Industry Association and others set out their concerns in a joint industry statement seen by Reuters.
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Heaviest Ukraine Fighting Rages In East, NATO Seeks To Sustain Against Russia
Dec 1 (Reuters) – Russian forces tried to advance in eastern Ukraine and trained tank, mortar and artillery fire on Kherson in the south, the Ukrainian military said, as Western allies sought to buttress Ukraine and its neighbours against Moscow.
In Washington, a $1.2 billion contract for six National Advanced Surface-to-Air Missile Systems (NASAMS) for Ukraine was awarded to Raytheon, the Pentagon said.
Ukraine Foreign Minister Dmytro Kuleba said on Wednesday his country needed U.S.-made Patriot missile defence systems to protect its civilian infrastructure, which has been under heavy attack by Russia at the start of winter.
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