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
FTSE 100 drops while industrial stocks boost mid-caps June 18, 2021 London’s FTSE 100 dipped this morning after a fall in heavyweight oil majors BP and Royal Dutch Shell dragged down the index. The blue-chips fell by 0.5 per cent at the open, with oil dips offsetting gains in large dollar-earning consumer staples firms including Unilever and Diageo. These companies benefitted from a weaker pound, as [...]
US stocks fall as Fed’s taper talk drags down tech shares June 17, 2021 Tech stocks dragged Wall Street lower today after the Fed hinted at tapering its stimulus sooner than expected, piling pressure on a sector that is vulnerable to higher interest rates. The tech-heavy Nasdaq fell by 0.25 per cent at the open, while the Dow Jones Industrial Average was down 0.1 per cent. Meanwhile, the S&P [...]
Sterling dips back under US $1.40 for the first time in a month June 17, 2021 Sterling has dipped back under $1.40 for the first time in a month, likely swayed by a hawkish US Federal Reserve last night. The Federal Reserve suggested it may taper its stimulus earlier than expected last night, which knocked the commodity price index off a 16-month high. The Fed also signalled it will raise rates [...]
Fed pours cool water on recovery while AMP amps up June 17, 2021 Bitcoin is down two per cent this morning, currently trading at around $39,300, while Ethereum has also dipped below $2,500.
US Open prize money 2021: How much can the stars of men’s golf win at Torrey Pines? June 17, 2021 US Open prize money reflects the event’s reputation as perhaps the most difficult of the four men’s majors. Whoever triumphs at Torrey Pines this week will take home a winners’ prize of $2.25m from a total pot of $12.5m. Those sums – frozen from last year – mean that US Open prize money remains the [...]
Fed hints that interest rate rises will start in 2023 June 16, 2021 The Federal Reserve this evening indicated that its first post-pandemic interest rate hikes could come in 2023, sending Wall Street’s markets down. Although the US central bank kept its current interest rate at the lowest possible levels, the majority of the Fed’s officials predicted at least two 0.25 per cent rate rises in 2023. That [...]
Pre-Fed jitters keep US stocks below record highs at open June 16, 2021 US stocks opened just below record highs today as investors stayed on the fence ahead of potential hints from the Federal Reserve on when it would taper its monetary stimulus. The Dow Jones Industrial Average was down 0.1 per cent, while the S&P 500 opened flat, remaining near an all-time time. Meanwhile, the Nasdaq Composite [...]
Today’s Fed meeting: Those who eat get fat, those who don’t regret June 16, 2021 According to an old Turkish saying ‘those who eat get fat, those who don’t regret.’ Traders would pick this up as taking a long equity position as investors continue to navigate an environment of low to negative yields on less risky holdings, with all eyes on the Federal Reserve later today. “It’s the Turkish way [...]
US stocks open near record highs while FTSE 100 stays in the green June 15, 2021 US stocks opened near record highs today as attention turned to the Federal Reserve for cues on whether a jump in inflation will prompt a tapering in monetary policy. The Dow Jones Industrial Average was up 0.1 per cent, while the S&P 500 opened flat, remaining near an all-time time. Meanwhile, the Nasdaq Composite was [...]