Fitch cuts U.S. long-term rating
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- US stocks close down as oil spikes 12%, job market weakens
- U.S. nonfarm payroll employment unexpectedly falls in February
- Oracle stock falls on report of scrapped Texas data center plans
- Kuwait cuts oil output as storage fills up
- Boeing reportedly nearing 500-aircraft deal with China ahead of Trump visit
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BofA now in favor of a soft landing for US economy
August 2, 2023 7:55 AM UTCBofA US economist Michael Gapen told investors in a note Wednesday that it is easy to imagine a no-recession scenario, and the firm has altered its outlook for the US economy.
The analyst explained that recent incoming data has made the firm reassess its prior view that a mild recession in 2024 is the most likely outcome for the US... More
