Coronavirus: US stocks rise as Fed intervenes again April 9, 2020 US stocks have opened higher today after the US Federal Reserve committed an extra $2.3 trillion (£1.84 trillion) to shore up the struggling economy. The S&P 500 rose two per cent, the Dow Jones climbed nearly 2.1 per cent and the Nasdaq opened 0.9 per cent up. The rise means that the S&P 500 has [...]
Coronavirus shows the value of circuit breakers April 6, 2020 Market volatility is back with a vengeance. We’ve not seen this level of trading activity since 1987 and it has presented fresh challenges to global markets. Back in 1987, the trading infrastructure failed to cope, and the collapse of equities overwhelmed the trading communication systems of the time, which caused outages and left orders unfinished. [...]
Coronavirus: New York Stock Exchange to shift fully to online trading from 23 March March 18, 2020 The New York Stock Exchange (NYSE) will temporarily close its trading floors and move fully to electronic trading from Monday, its owner Intercontinental Exchange said after an employee and a trader were tested positive for the coronavirus. They were last in the exchange building on 13 March, the company said today. The facilities to be closed [...]
US stock markets suffer worst day since 1987 despite drastic Fed rate cut March 16, 2020 US stock markets suffered their biggest single day fall since 1987’s infamous Black Monday crash as investors shrugged off a dramatic Federal Reserve stimulus package that aimed to support the economy during the coronavirus outbreak. The US’s S&P 500 crashed 12 per cent over trading, the Dow Jones finished 12.9 per cent lower, and the [...]
US stocks fall for seventh consecutive day as coronavirus fears increase February 28, 2020 US stocks opened down again today for the seventh straight day as investors continued to sell after new cases of coronavirus pummelled global stock markets. The Dow Jones and the S&P 500 both fell 2.5 per cent, to 25,119.36 and 2,904.44 respectively. The Nasdaq fared marginally better, opening 1.9 per cent down at 8,402.67. The [...]
Alphabet drops out of trillion-dollar club amid coronavirus rout February 24, 2020 Google parent company Alphabet has dropped out of the prestigious trillion-dollar club after fears over the coronavirus outbreak prompted a wider global sell-off. Shares in Alphabet dropped almost four per cent in New York trading this afternoon, taking its market capitalisation to just below $980bn (£758bn). The fall came amid a wider decline across stock [...]
RCEP or CPTPP: Will Asia finally agree a trade deal? January 14, 2020 It is occasionally worth revisiting where Asia is with its expansive and highly complex trade negotiations, given that one can often get lost in the acronyms and fanfare of the latest set of talks. The first major attempt, an agreement with 11 signatories called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) or TPP11 — [...]
What do the financial markets hold in store for 2020? January 7, 2020 After the festive break, everyone in the City is slowly settling back into work. The opening week of 2020 has been hectic already, with oil and gold prices rising and stocks falling in reaction to tension in the Middle East. But what else are the financial experts and asset managers keeping an eye on for [...]
Oil prices surge after US kill Iran general Qassem Soleimani but Wall Street stocks stutter January 4, 2020 Oil prices surged as much as $3 per barrel on Friday as it and other safe havens such as gold all rallied following the US airstrike which killed Iran’s top military commander, General Qassem Soleimani. While the attack on the head of the elite Quds Force and promise of revenge from Iran left traders concerned, [...]
US jobs growth data beats expectations despite trade war concerns December 7, 2019 The US economy added 266,000 jobs last month despite economists’ expectations of a slowdown. It was the highest number of jobs added to the economy in 10 months, aided by striking GM workers returning to work and a rise in healthcare posts. The unemployment rate also reduced slightly from 3.6 per cent to 3.5 per [...]