“Sell in May and go away, don’t come back till St Leger Day”: With a week to go, should you sell in May? – CNBC Comment May 25, 2015 You have a week left to make up your mind about what to do with your money. But don’t panic – there’s no reason to call your broker just yet. This countdown only applies if you believe the much-touted adage for investors, “sell in May and go away, don’t come back till St Leger Day”. [...]
US stocks fall on Fed inaction – New York Report May 20, 2015 US STOCKS ended a touch lower yesterday after Wall Street saw little in the minutes from last month’s Federal Reserve meeting to alter expectations of when the central bank will raise interest rates. Following the minutes’ release, the Dow and S&P 500 pushed into record territory before giving up their gains. Officials at the Fed’s [...]
As Japanese growth picks up pace, can we expect QE in the Eurozone to be as successful? May 20, 2015 Christian Schulz, senior economist at Berenberg, says Yes Since early 2013, when Japan’s QE became imminent, its average quarterly annualised GDP growth rate has risen to 1 per cent, from 0.2 per cent in 2011/12. In the Eurozone, with the European Central Bank (ECB) launching QE, GDP expanded by 1.6 per cent in the first [...]
UBS to pay US authorities $545m over forex-rigging scandals May 20, 2015 UBS is to pay $545m (£351.7m) to US authorities to settle a series of investigations into the bank's alleged rigging of the foreign exchange markets and Libor. The Swiss bank confirmed the total, to be paid to the Department of Justice, the board of governors of the Federal Reserve and the Connecticut Department of [...]
Home permit data boosts US – New York Report May 19, 2015 US STOCKS ended mixed yesterday, with the Dow rising marginally to a second straight record high, as Wall Street digested housing data that some saw as hopeful for an economy struggling to grow. US housing starts jumped to their highest level in nearly seven and a half years in April. Some investors interpreted that as [...]
Apple helps to send Wall St to new highs – New York Report May 18, 2015 T HE DOW Jones industrial average and S&P 500 ended at record highs yesterday, helped by a rally in Apple as well as tepid economic data suggesting the Federal Reserve may wait to raise interest rates. The S&P 500 racked up its third straight all-time high close, gaining 6.47 points, or 0.3 per cent, to end [...]
Deflation, no demand: Global economies struggling to up inflation and stagnation is on the rise May 18, 2015 We are now well into the second phase of post-financial crisis recovery. The first, terrifying phase was the period when central banks had to cut interest rates to zero and then develop and deploy new, unconventional weapons, including QE. The European Central Bank (ECB) had to be more imaginative than others, as it tried [...]
Google is racing (at 25mph) ahead in the self-driving car wars May 18, 2015 Fed up waiting for Tesla's self-driving car to emerge? Us too. Luckily Google has the answer. The Silicon Valley giant is releasing its prototype fleet of self-driving cars this summer ahead of a “small pilot” in the coming years. According to Chris Urmson, director of Google's self-driving car project, “a few” of the vehicles [...]
Fed will update on US outlook – New York Report May 17, 2015 INVESTORS will watch for any change in the economic outlook from housing data and remarks by various Federal Reserve speakers this week, while retailers will take over on the earnings front as the first-quarter reporting season trickles to its end. The highlight comes at the end of the week with Fed chair Janet Yellen speaking [...]
Investors wait out Wall St lull – New York Report May 13, 2015 WALL Street’s major indexes gave up early gains to end yesterday’s session little changed as some investors stood on the sidelines waiting for the next round of economic data at the tail end of earnings season. US retailers faced a tough April as households cut back on purchases of big-ticket items and import prices fell [...]