US stocks fall as Fed’s taper talk drags down tech shares June 17, 2021 Tech stocks dragged Wall Street lower today after the Fed hinted at tapering its stimulus sooner than expected, piling pressure on a sector that is vulnerable to higher interest rates. The tech-heavy Nasdaq fell by 0.25 per cent at the open, while the Dow Jones Industrial Average was down 0.1 per cent. Meanwhile, the S&P [...]
US stocks open near record highs while FTSE 100 stays in the green June 15, 2021 US stocks opened near record highs today as attention turned to the Federal Reserve for cues on whether a jump in inflation will prompt a tapering in monetary policy. The Dow Jones Industrial Average was up 0.1 per cent, while the S&P 500 opened flat, remaining near an all-time time. Meanwhile, the Nasdaq Composite was [...]
City A.M. TV: A market snapshot June 14, 2021 The S&P500 continued its slow ‘grind higher’ last week, with the cash index eking out a small gain (of 18 points, i.e. 0.4 per cent). Traded volumes on the NYSE were low, highlighting the general quietness of equity markets while levels of complacency remained elevated (e.g. with low volatility and put to call ratio readings). [...]
Wall Street edges higher as inflation fears fade while FTSE jumps June 11, 2021 Wall Street’s main indexes opened higher today after inflation data calmed concerns over a long-term spike in consumer prices. The Dow Jones Industrial Average was up 0.2 per cent, while the S&P 500 advanced 0.15 per cent at the open. Meanwhile, the tech-heavy Nasdaq edged up 0.1 per cent after a week in which tech [...]
US inflation rate climbs at fastest pace since 2008 June 10, 2021 US inflation has soared to the fastest annual rate since the financial crisis, fuelling concerns of early policy tightening by the Fed. The Labor Department said its consumer price index (CPI) rose 0.6 per cent last month after surging 0.8 per cent in April. In the 12 months to May, CPI accelerated five per cent, [...]
US healthcare data giants Datavant and Ciox strike $7bn merger deal June 9, 2021 Datavant and Ciox Health today announced they have agreed to merge. In a deal valued at $7bn, the combined company will become largest health data network in the US. The new company, named Datavant, will allow a secure exchange of data among its network of more than 2,000 US hospitals and 15,000 clinics. It will [...]
Sterling recovers ground despite worry over 21 June reopening date June 7, 2021 Sterling recovers ground despite worry over 21 June reopening date
City A.M. TV: A Market Snapshot June 7, 2021 US non-farm payrolls once again demonstrated their ability to move markets.
Wall Street opens lower while FTSE plunges to snap June winning streak June 3, 2021 Wall Street’s main indexes opened lower today as investors weighed up data showing a pick up in jobs growth for cues on the trajectory of inflation. The Dow Jones Industrial Average fell 0.7 per cent at the open, while the Nasdaq Composite shed 1.3 per cent. Meanwhile, the S&P 500 dropped 0.8 per cent to [...]
City A.M. TV: A Market Snapshot June 1, 2021 Market snapshot: Many key global equity markets have been tracking sideways, consolidating their gains in recent weeks.