Manufacturers and home sales buoy US outlook August 20, 2015 Manufacturers in the Philadelphia region are growing strongly this month, according to survey figures released yesterday, easing fears over the sector’s health. Meanwhile, US existing house purchases rose to an eight-year high last month, showing that consumer spending was in fine fettle. The Philadelphia Federal Index ticked up to a score of 8.3 this month from [...]
Tiger Woods shoots lowest round for two seasons at Wyndham Championship August 20, 2015 Fallen former world No1 Tiger Woods has rekindled hopes that his days as a golfing force may not be over by shooting his lowest round since 2013 yesterday on the PGA Tour. Woods, who has plummeted to 187th in the rankings, carded a 64 at the Wyndham Championship – a tournament he needs to win [...]
Fed minutes raise concerns – New York Report August 19, 2015 US STOCKS fell in choppy trading yesterday as minutes from the latest Federal Reserve meeting highlighted concern over the state of the global economy. This drove markets to question the likelihood that the central bank will interest raise rates next month. The Dow Jones industrial average fell 162.61 points, or 0.93 per cent, to 17,348.73, [...]
Federal Reserve is “approaching” rate hike: Members say they need more evidence of wage growth first August 19, 2015 Minutes from the Federal Reserve's July policy meeting offered no indication that the central bank intends to raise interest rates in September. Read more: Hiking rates in September could be an error of historic proportions by the US Fed With uncertainty remaining over wage growth and inflation, the officials “generally agreed” that more information [...]
US consumer price index inches up for sixth consecutive month August 19, 2015 US consumer prices rose for the sixth month in a row in July, suggesting inflationary pressures are beginning to stabilise. Figures from Labour Department today showed the consumer price index nudged up 0.1 per cent last month. This just missed economists' expectations for a 0.2 per cent rise. At the same time, consumer prices rose 0.2 per [...]
China stocks recover after second day of falls as markets nervously await Fed minutes August 19, 2015 Stocks in China finished today's session up, despite falls in early trading. That followed big losses on Tuesday. The Shenzhen Composite finished 2.19 per cent higher, at 2,222.05 points, while the Shanghai Composite rose 1.23 per cent to 3,794.11 points – having dipped as low as 5.3 per cent and 6.1 per cent respectively during the [...]
All eyes on Federal Reserve after shock Empire State index drop August 18, 2015 American traders will be poring over crunch sets of data this week after a key index plummeted to its lowest level since the depths of the recession in 2008-09. The Empire State index – one of several widely watched barometers of manufacturing in the US – collapsed to a score of minus 14.9 in August [...]
Plunging oil pushes back the all-important first Fed hike – etoro Tips & Picks August 17, 2015 OIL prices dipped further in the Asian session overnight yesterday, with US crude trading around $42 a barrel. A report from some investment banks has argued that we could well see oil trading lower still from these levels. A lot of technical traders point to the fact that we could be looking towards $35 per [...]
Fed minutes at centre of focus – New York Report August 16, 2015 INVESTORS will comb through Wednesday’s minutes of the most recent Federal Reserve meeting for indications on how it will react to the recent yuan devaluation and the further decline in oil prices. The recent outperformance of bank shares and underperformance of utilities, both on expectations of higher Treasury yields, support current market bets that the [...]
Canary Wharf’s seal of approval August 14, 2015 LONDON’s finance sector now has a mascot infinitely better than the Investec Zebra. There’s a seal living in Canary Wharf! A seal! An actual seal! The fishmongers at Billingsgate Market, gawd bless ‘em, have known about the Wharf’s longest resident for about 10 years, as he commutes to the market every morning to get fed [...]