City A.M. TV: A market snapshot August 31, 2021 Markets responded well to Fed Chair Powell’s key speech last Friday. The main US equity index rallied both on the speech and then continued its strength during yesterday’s US session (whilst the UK was closed for bank holiday). As well as new record highs for the S&P500 and NDX100, Powell’s dovishness also brought about a [...]
Wall Street ends hot streak and opens lower amid China growth slowdown August 16, 2021 Wall Street fell from last week’s record highs at Monday’s open amid concerns about the impact of the crisis in Afghanistan and after China missed expectations on a range of data, signalling that its economy was slowing down. The S&P 500 slid down 0.4 per cent from Friday’s all-time high of the year, while the [...]
City A.M. TV: A market snapshot July 9, 2021 After a number of weeks of strength in global risk assets, some cracks began to emerge in markets this week.
US lobby groups gear up to fight Biden corporate tax hikes July 6, 2021 US business lobbying groups are preparing to stop new corporate tax hikes in a spending bill linked to the bipartisan $1.2tr (£870bn) infrastructure deal. As reported by Reuters, the US Chamber of Commerce, the National Association of Manufacturers, the National Retail Federation and other wealthy lobby groups plan to sway a handful of Democrats against [...]
City A.M. TV: A market snapshot (video) July 2, 2021 US markets have continued their grind higher this week with the S&P500 eking out gains on all four trading sessions so far. Across the globe, though, the strength in other equity markets has been less marked: In the Euro zone most equity markets have traded sideways or even lower over the course of June; in [...]
Legal services company LegalZoom makes $7bn Nasdaq debut June 30, 2021 LegalZoom shares today opened 31 per cent above the company’s offer price in its Nasdaq debut, valuing the online legal services company at $7bn (£5bn). The legal tech giant helps users generate legal documents without lawyers. Shares opened at $36.75 (£26.61), up from the company’s initial public offering (IPO) on Tuesday which saw over 19m shares [...]
City A.M. TV: A market snapshot June 25, 2021 US equity markets have since bounced, recovering most of their losses.
Wall Street cheers US Fed chair Jay Powell’s Congress appearance June 22, 2021 Wall Street cheers US Fed chair Jay Powell's Congress appearance
US stocks surge after worst week in nearly four months June 21, 2021 Wall Street rallied today, with the Dow Jones Industrial Average completing its strongest session in over three months as investors piled back in to energy and other sectors expected to outperform as the economy rebounds from the pandemic. The S&P 500 value index, which includes banks, energy and other economically sensitive sectors and has led gains in [...]
City A.M. TV: A market snapshot June 18, 2021 After sharp moves (in most cases losses) following on from the US Fed’s statement and press conference on Wednesday, many key asset prices remained under pressure