Global markets rally as Fed taper fears ease August 24, 2021 Global markets rallied today, driven by expectations that the US Federal Reserve will outline its plan to rein in the wave of monetary stimulus unleashed in response to the Covid crisis at Jackson Hole this week receding. The blue-chip S&P 500 rose 0.29 per cent to 4,492.46 points in early afternoon trading, while the Dow [...]
Mervyn King: Central banks cannot solve most of society’s problems August 24, 2021 A former governor of the Bank of England has warned that central banks cannot be relied on to solve most of society’s problems. Writing for Bloomberg, Mervyn King said there are “serious challenges to our societies. But the gravity of an issue is not the sole, nor even the most important, criterion for central-bank involvement. [...]
Bitcoin stalls at $50k as Cardano continues march August 24, 2021 After a big weekend, Bitcoin yesterday hit a wall at the psychologically-important $50k resistance level.
Oil prices jump to pare back worst weekly losses for nine months August 23, 2021 Oil prices jumped today to partly reverse losses registered last week that saw the main international benchmarks swing to their worst seven day performance in nine months. International benchmarks WTI and Brent Crude rose 3.22 per cent and 3.27 per cent to $64.14 and $67.31 respectively. Both benchmarks marked their biggest week of losses in [...]
‘Potentially lethal’ Legionella bacteria outbreak on City Thameslink trains August 23, 2021 The Rail, Maritime and Transport (RMT) union warns for a “potentially lethal” Legionella outbreak on Thameslink trains. The union said it has prepared its members on Thameslink for strikes if urgent action is not taken to resolve the issue. The company said a low level of Legionella had been found in a small number of [...]
US markets shake off Delta variant jitters as investors seek to end volatile week on a high August 20, 2021 Wall Street shook off concerns that the rapidly spreading Delta variant of Covid could halt the global economic recovery from the crisis to end the week on a high. The blue-chip S&P 500 jumped 0.69 per cent to 4,436.26 points during early trading, while the Dow Jones added 0.5 per cent to 35,06776 points. The [...]
Weak UK retail sales drags FTSE 100 lower – CityAM : CityAM August 20, 2021 London’s FTSE 100 extended yesterday’s sharp losses into this morning as weak UK retail sales figures weighed on market sentiment. The capital’s premier index slipped 0.22 per cent to 7,043.22 points during the first two hours of trading on Friday. The blue-chip index is on track to register its worst week since January. Also Read: [...]
Markets stumble as China throws sand into the gears of recovery August 19, 2021 European stocks have come under further pressure today, in sharp contrast to last week. The falls appear to be being driven by several factors, so you can pick your poison to a certain extent, however the prospect of a Fed taper is unlikely to one of the main factors, given that US yields are lower, [...]
US stocks resist following FTSE lower as markets digest Fed minutes and oil rout August 19, 2021 Wall Street resisted the European market rout that sent the FTSE falling today and opened broadly flat today as investors digested news that the US Federal Reserve may tighten monetary policy this year. The S&P 500 edged down to 4,399.90 points, while the Dow Jones slipped to 34,944.70 points. Concerns about a possible earlier than [...]
Fed policymakers prepared to curb support August 19, 2021 A majority of Federal Reserve ratesetters think it could be time to wind down the central bank’s enormous monetary support unleashed in response to the Covid crisis this year. Minutes breaking down discussions at the central bank’s latest Federal Open Market Committee meeting reveal most of its policymakers would support curbing the Fed’s bond buying [...]