US stocks rallied yesterday after three days of losses as stronger-than-expected economic data helped reassure investors concerned about the expected winding down of the Federal Reserve’s economic stimulus.
MARK Carney finally enters his new office at the Bank of England next month, when he takes the reins from Sir Mervyn King after his decade at the helm. King’s last meeting a week ago was rather a non-event, as policy remained unchanged.
BRITAIN’S benchmark share index edged lower yesterday, with weakness in miners on the back of soft Chinese data only partly offset by demand for healthcare and travel shares cheapened by a recent sell-off.
MANUFACTURING and construction data due out this week may provide welcome news for the British economy.
Office for National Statistics output data for April, due tomorrow, are expected to show the decline in activity is slowing down.
BRITAIN’S leading shares slipped to six-week lows yesterday, breaking below a support level after the European Central Bank (ECB) signalled it was in no hurry to offer more stimulus to the country’s top trading partner.
US stocks rose yesterday, with the Dow swinging nearly 200 points from its session low to high and the S&P 500 recovering after hitting a key technical level in volatile trading a day before the release of the US jobs report.
US stocks dropped one per cent yesterday, extending a recent selloff, as investors grappled with concerns that the Federal Reserve may begin to scale back its bond-buying stimulus while the economy is still sluggish.
THE UK’S top share index recovered from a four-week low yesterday, bouncing up from technical support levels and cheered by expectations that Federal Reserve stimulus may remain in place for a while longer.
My pick: Long euro-dollar through Thursday, long dollar (pending)
Expertise: Fundamental and technical analysis
Average time frame of trades: A few hours to a few weeks
US stocks rose yesterday, rebounding from the previous session’s losses, as tepid economic data eased concerns the US Federal Reserve would begin to gradually scale back its policy of stimulating growth.
THE UK’S top shares fell yesterday as investors took profits after the previous session’s sharp gains on concern the US central bank might soon scale back its bond purchase programme that has bolstered equities.