NEWSLETTER - FEB 5, 2023

Important wage inflation measure for the Fed rose less than expected in Q4

• The employment cost index increased 1% in the fourth quarter, less than the 1.1% expectation and slower than the third quarter, the Labor Department reported Tuesday.

• Fed officials consider the ECI an important inflation gauge as it adjusts for various labor market conditions.

Sourced from CNBC

Euro zone economy posts surprise expansion in the fourth quarter, curbing recession fears

• Preliminary Eurostat data released Tuesday showed the euro zone grew 0.1% in the fourth quarter.

• Economists had pointed to a 0.1% contraction over the same period, according to Reuters.

• Energy prices cooled off in the latter part of 2022, bringing some relief to the euro zone’s broader economic performance.

Sourced from CNBC

Some of the Wall Streets biggest names are exposed to the Adani Enterprises plunge

• Adani Enterprises lost more than 60% of its market cap, or more than $30 billion, between the report’s publication on Jan. 24 and the close of Thursday trade.

• The list of top 20 shareholders of Adani Enterprises includes two of the biggest names on Wall Street.

Sourced from CNBC