Latest news with #consumer sentiment
Yahoo
2 hours ago
- Business
- Yahoo
Australia Aug consumer sentiment boosted by rate cuts
SYDNEY (Reuters) -A measure of Australian consumer sentiment improved sharply in August as the third cut in interest rates this year bolstered the outlook for finances and the economy, a survey showed on Tuesday. A Westpac-Melbourne Institute survey showed its main index of consumer sentiment climbed 5.7% in July to 98.5, the highest reading since early 2022. The reading under 100 means pessimists still outnumber optimists, though only just. The pick-up came after the Reserve Bank of Australia cut interest rates a quarter point to 3.60% and left the door open to further easing this year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Independent
17 hours ago
- Business
- The Independent
UK consumer sentiment recovers to strongest level since October
Sentiment among UK consumers recovered to its strongest level since before the autumn budget last year, according to new figures. The latest monthly S&P Global UK Consumer Sentiment Index found that surveyed consumers were still relatively downbeat but saw sentiment move higher after the latest cut to interest rates. Earlier this month, the Bank of England voted to cut its base interest rate from 4.25% to 4%. The CSI, which surveys more than 1,500 households, reported a reading of 47.0 for August, rising from 45.1 in July. The reading is the highest since October. Any reading below 50 points to negative sentiment, with a reading above 50 suggesting positive feeling among consumers. Households reported the strongest sentiment about their personal finances for 13 months, although this remained in firmly negative territory. There was also an improvement about how households viewed the labour market, with rises in job security and activity at work. Maryam Baluch, economist at S&P Global Market Intelligence, said: 'August CSI data comes hot on the heels of the recent rate cut decision made by the Bank of England earlier in the month. 'Data collection began just a day after the central bank's announcement, providing a timely snapshot of sentiment in the wake of monetary policy easing. 'Encouragingly, the data reveals a slight revival in household confidence, which is a telling sign that the easing of monetary policy has been received positively by households across the country.'
Yahoo
3 days ago
- Business
- Yahoo
S&P 500 Gains & Losses Today: UnitedHealth Stock Climbs After News of Berkshire Stake
Key Takeaways The S&P 500 slipped 0.3% on Friday, Aug. 15, 2025, as a report on consumer sentiment revealed growing concerns about tariff impacts, inflation, and the jobs market. UnitedHealth stock surged as regulatory filings showed that Warren Buffett's Berkshire Hathaway has accumulated a large position in the health insurer. Applied Materials provided an underwhelming outlook for the current quarter, citing macro uncertainty, and shares of the chip equipment maker fell. U.S. stocks logged weekly gains, the major indexes finishing Friday with mixed results heading into the weekend, as the Michigan Consumer Sentiment Index showed declining confidence in the state of the economy for the first time in four months. The S&P 500 declined 0.3% on Friday, snapping a streak of three straight record closing highs. The Nasdaq lost 0.4%, while the Dow held onto a gain of 0.1%. Read today's full daily markets roundup here. UnitedHealth Group (UNH) shares jumped after a regulatory filing showed that Berkshire Hathaway (BRK.A, BRK.B), the firm run by legendary investor Warren Buffett, has increased its stake in the health insurance giant. UnitedHealth and other insurers have been pressured by rising medical costs and changes in government reimbursement rates, which contributed to UnitedHealth's decision to withdraw full-year guidance in May. A surge of 12% made UnitedHealth the S&P 500's top daily performer. Shares of other health insurers also moved higher. Sunrun (RUN), the market share leader in the U.S. residential solar business, beat quarterly sales and profit forecasts. The provider of panel installation and battery storage solutions said it would rely on its experience from past regulatory changes to mitigate the impact from pending changes to clean energy tax credits. Sunrun shares rocketed 33%. Shares of S&P 500 constituents Fist Solar (FSLR) and Enphase Energy (ENPH) shares added 11% and 8.1%, respectively. Moderna (MRNA) advanced 5%, adding to gains posted earlier in the week after Jay Bhattacharya, director of the National Institutes of Health, recognized the potential of the mRNA vaccine technology that underlies Moderna's products. Bhattacharya's view showed more flexibility on mRNA when compared with tougher rhetoric from other health officials tied to the Trump administration, which has moved to cut funding for mRNA-related research. Shares of semiconductor equipment manufacturer Applied Materials (AMAT) tumbled 14%, falling the most of any S&P 500 stock. Although Applied Materials topped sales and profit forecasts for its fiscal fourth quarter, its guidance for the current quarter fell short of forecasts, with macroeconomic uncertainty weighing on its outlook, particularly in China. Shares of fellow chip equipment makers KLA Corp. (KLAC) and Lam Research (LRCX) fell 8.4% and 7.3%, respectively. Paramount Skydance (PSKY) shares lost 4.6%, giving back some of the outsized gains posted earlier in the week as the stock drew comparisons to "meme stocks" that have generated trading frenzies lately. The stock has seen major volatility following the completion of the merger between Skydance Media and Paramount Global. HSBC downgraded Cisco Systems (CSCO) stock to "hold" from "buy" and lowered its price target. Analysts pointed to Cisco's modest revenue growth expectations and the possibility of diminishing momentum as the benefits of restocking cycle that has been boosting the computer networking specialist taper off. Cisco stock slipped 4.5% on Friday. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Berro and Jones on Consumer Sentiment, Labor Market, Rate Cuts
US retail sales rose in July in a broad-based advance and the prior month was revised higher, though economists were cautious on the trend going forward given a softening jobs market and weaker consumer sentiment. Schwab Center for Financial Research Chief Fixed Income Strategist Kathy Jones and JPMorgan Asset Management Fixed Income Portfolio Manager Kelsey Berro has more on the story. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Consumer Sentiment Falls as Inflation Worries Pick up, Survey Shows
US consumer sentiment unexpectedly fell in August as inflation expectations rose, preliminary result Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
