Wall Street falls on poor unemployment figures September 23, 2010 US stocks fell yesterday after a weak reading on the labour market dropped stocks through a key technical level, validating the worries of those who thought the recent rally was flimsy. Major indexes were little changed for most of the day before the S&P 500 broke below 1,130, the high end of the summer’s trading [...]
Fed remarks fail to boost US stocks September 21, 2010 US stocks ended flat to lower in an erratic session yesterday after the Federal Reserve inched closer to further steps designed to support the recovery. Stocks initially popped higher but gave back those gains quickly. Investors had hoped that with recent improvements in economic data, the Fed would issue a more upbeat outlook or clarify [...]
FSA teams up with US agency to monitor firms September 20, 2010 THE FINANCIAL Service Authority (FSA) has signed a deal with one of its US counterparts in a bid to more closely supervise the world’s largest securities firms and markets, it said yesterday. The FSA signed a memorandum of understanding with the US Financial Industry Regulatory Authority (FINRA) on 15 September, agreeing to share information on [...]
Wall St rises, S&P makes strong gains September 20, 2010 The S&P 500 closed at a four-month high yesterday as a long-awaited break above a technical range and a flurry of positive corporate news increased investor optimism. The break came a day before a Federal Reserve meeting in which the central bank is expected to renew a promise to keep its portfolio from shrinking but [...]
Hong Kong gains ground on the City September 20, 2010 THE government was warned yesterday not to risk London’s position as the world’s largest financial centre as a report showed the City and New York losing ground to Hong Kong. Hong Kong has now joined New York and London as one of the “Big Three” financial centres for the first time, according to the latest [...]
Wall St edges up despite poor data September 15, 2010 STOCKS advanced yesterday on Wall?Street but remained hemmed in a recent trading range as disappointing economic data hindered the S&P 500 from breaking through a stubborn technical level. Markets were pressured early by a report showing a measure of New York state business conditions slipped to the lowest level in more than a year, while [...]
Promising US retail data fuels optimism September 14, 2010 STOCKS were little changed yesterday after promising data from the retail sector fed recent optimism that the economic recovery, while slow, is proceeding. Retailers were a bright spot after data showed US retail sales rose in August for their largest gain in five months. Best Buy’s higher-than-expected quarterly profit and raised outlook validated the government [...]
Wall Street closes up on light trading September 8, 2010 US stocks rose yesterday as investors latched onto positive news out of Europe in the latest in a string of low-volume sessions suggesting little confidence in market direction. Bank stocks recovered from Tuesday’s losses, with JPMorgan up 2.2 per cent and the BKW bank index up 1.7 per cent. A successful Portuguese debt offering as [...]
SEC mulls tightening up process for stock orders September 7, 2010 US regulators are probing certain practices around “quote stuffing,” where large numbers of rapid-fire stock orders are placed and cancelled almost immediately, Securities and Exchange Commission (SEC) chairman Mary Schapiro said yesterday. “The SEC and other regulators are looking carefully at certain practices in this area to assess whether they violate existing rules against fraudulent [...]
Avis raises its bid in Dollar Thrifty battle September 2, 2010 CAR RENTAL company Avis Budget Group raised its bid for Dollar Thrifty Automotive Group three per cent to $1.35bn (£877m), as it looks to wrest the company from rival Hertz Global Holdings. Avis raised the cash portion of its bid by $1.50 to $40.75 a share on yesterday. The stock portion of the deal remains [...]