European Shares Bounce Back As UK Avoids Recession

European Economics Preview: Germany Factory Orders Data Due

Factory orders and construction Purchasing Managers’ survey data from Germany and retail sales from the euro area are due on Thursday.

At 2.00 am ET, Destatis is scheduled to issue Germany’s factory orders data for August. Orders are forecast to fall 0.7 percent on month, slower than the 1.1 percent decrease in July.

In the meantime, foreign trade from Finland and industrial output from Sweden are due.

At 3.00 am ET, Spain’s INE is set to release industrial production data for August. Economists expect output to grow 4.8 percent on year, slower than the 5.3 percent increase in July.

Also, retail sales figures are due from the Czech Republic and Hungary.

Half an hour later, S&P Global releases Germany’s construction Purchasing Managers’ survey data.

At 4.30 am ET, UK S&P/CIPS construction PMI data is due. Economists expect the index to fall to 48.0 in September from 49.2 in the previous month.

At 5.00 am ET, Eurostat publishes euro area retail sales figures for August. Sales are forecast to fall 0.4 percent on month, in contrast to the 0.3 percent increase in July.

At 7.30 am ET, the European Central Bank is scheduled to issue the account of the monetary policy meeting of the Governing Council held on September 7 and 8.

Rick Martínez’s Essential Mexican Recipes

The “Mi Cocina” author and a second-generation Mexican American shares the regional specialties he loves most.

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By Rick A. Martínez

Opinion | Here’s Hoping Elon Musk Destroys Twitter

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Opinion | Tracking the Coming Economic Storm

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Video of Broncos’ Russell Wilson’s 51-yard pass to Courtland Sutton (and Montrell Washington) against Colts

The Broncos’ offense, stagnant all night long, came alive in the third quarter Thursday when Russell Wilson completed a 51-yard pass to Courtland Sutton. And Montrell Washington.

Both Denver receivers came down with ball, but Sutton was the one who got up with it in hand.

The Broncos couldn’t capitalize, however, failing to convert on third-and-goal and then having Brandon McManus’ field-goal attempt blocked. The score is 6-6.

Photos from Denver Broncos-Indianapolis Colts Thursday Night Football game in NFL Week 5

The Denver Broncos host the Indianapolis Colts for the NFL Week 5 matchup Thursday, Oct. 6, 2022, at Empower Field at Mile High in Denver.

Click here for live updates from the game.

Samsung Sees About 32% Decrease In Q3 Operating Profit

Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) expects that its third-quarter operating profit will decrease about 31.73 percent from last year, due to weak demand for electronic devices and memory chips amid global economic uncertainty. But the company projects quarterly sales will increase 2.73 percent.

The South Korean tech giant projects operating profit of about 10.80 trillion Korean won in the third-quarter, compared to 15.82 trillion won reported last year. While it reported operating profit of about 14.10 trillion won in the second-quarter.

The company also expects third-quarter consolidated sales of about 76.00 trillion won compared to 73.98 trillion won last year. It reported consolidated sales of about 77.20 trillion won in the second-quarter.

Third-quarter earnings results will be released later this month.

European Shares Bounce Back As UK Avoids Recession

European stocks bounced back on Friday, as government bond yields pulled back from recent highs and new data showed the U.K. economy has not yet fallen into a recession.

U.K. GDP for the second quarter of this year has been revised upwards to show growth of 0.2 percent from the previous estimate of a contraction of 0.1 percent.

Nonetheless, the pace of growth was weaker than the 0.7 percent expansion posted in the first quarter.

Currency markets calmed, with the euro and sterling hitting new one-week highs after the British government agreed to meet with the country’s independent budget experts.

The pan European Stoxx 600 rallied 1.3 percent to 387.79 after declining 1.7 percent on Thursday.

The German DAX and France’s CAC 40 index both climbed around 1.2 percent while the U.K.’s FTSE 100 was up 0.7 percent.

Swiss chemical firm Clariant jumped 5 percent after Credit Suisse upgraded its rating on the stock to “outperform” and upped its price target.

Italian builder Webuild added 3.3 percent after saying its commercial results will likely exceed significantly the guidance for 2022.

Dignity, a British funeral-related service provider, plunged 10 percent after posting a loss for the first half, amidst a decline in revenues and a surge in administrative expenses.