Today’s Fed meeting: ‘Officials are behind the curve when it comes to dealing with inflation risk’ January 26, 2022 Markets’ main focus is set to be on today’s Fed meeting, and the messaging that is expected to layout the rate path for the rest of the year, starting with a widely expected 0.25 per cent March rate hike. “Last month’s Fed meeting saw the central bank accelerate its tapering program to $30bn a month, [...]
Buckle up: Wild ride on Wall Street as rate rise talk spooks investors January 10, 2022 An explosive Goldman Sachs note triggered a day of drama on Wall Street today after the investment bank warned of as many as four US Fed rate rises in 2022 alone. The tech-heavy Nasdaq crashed by as much as 2.7 per cent in early trading, tipping it briefly into correction territory. A late rally saw [...]
U.S. jobs growth slows well below forecasts January 7, 2022 US jobs growth fell well below forecasts in December as rising COVID-19 infections disrupted economic activity, according to official data released today. The figure in the US Bureau of Labor Statistics report showed that the US economy added 199,000 jobs in December, after economists polled by Reuters had anticiapted a rise of 400,000. Unemployment levels [...]
US to become world’s biggest LNG exporter in 2022 December 22, 2021 The US will become the world's largest LNG exporter in 2022, overtaking Qatar and Australia, according to data presented to Reuters.
Global IPO bonanza: Market listings raise record $346bn in 2021 so far November 5, 2021 The global IPO market is booming, according to new data from Refinitiv ahead of the likely listing of Amazon-backed EV maker Rivian next week. IPOs have raised more than $346bn so far this year, with technology the unsurprising star sector. All up, 1,793 initial public offerings have been recorded globally so far during 2021, two-thirds [...]
The next memestock? Avis shares rocket 218 per cent in a single day November 2, 2021 Shares in car rental giant Avis are surging this afternoon after positive earnings data, leading some to compare the jump to those of memestocks Gamestop and AMC. Its stock price is currently trading up 81.5 per cent to $316, after paring some early gains. Avis shares were rallying as much as 218 per cent immediately [...]
Stablecoin Tether pressured to reveal the location of its reserve funds October 8, 2021 Tether, a stablecoin pegged to the price of the US dollar, is facing scrutiny once again over the location of its reserve funds. Tether Holdings Inc issues one token for each dollar it receives. This means that trades made using USDT are supposedly backed by the companies’ dollar reserves – a quality which has made [...]
Ferguson annual profit rises after lockdowns fuel US appetite for home improvement September 28, 2021 Plumbing group Ferguson has posted higher annual profits, buoyed by strong home improvement demand in the US, but expects the lockdown trend to taper in the upcoming financial year. The FTSE 100 firm, which has a second US listing, said underlying trading profit climbed 32 per cent to $2.1bn in the full year ended 31 [...]
City A.M. TV: A market snapshot September 3, 2021 Following Powell’s dovish speech at Jackson Hole last week, markets have been re-pricing the liquidity environment. In particular, the dollar has been notably weaker, commodity prices have rallied, and equities have pushed out to new highs. In the US that’s been most marked in the S&P500 and the NASDAQ100. The key question therefore, at this [...]
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 [...]