S&P 500 jumps the most in nearly two years December 18, 2014 The S&P 500 jumped the most in nearly two years posting gains of nearly two per cent, after the federal reserve's pledge for "patience" with future rate hikes sparked a global market rally. It surged 2.4 per cent to 2,061.23 which is it's best daily performance since January last year. The Dow Jones Industrial Average [...]
Is Vladimir Putin right that Russia’s economy will be back on its feet within two years? December 18, 2014 Steen Jakobsen, chief economist at Saxo Bank, says Yes. Russia’s citizens have been here before – they know the drill. Everything looks terrible now, but the positive spin is that we could see a new start in 2015. A solution to the Ukraine crisis is a pre-condition, laying to rest the political and financial stand-off [...]
US jobless numbers beat expectations December 18, 2014 After average hourly earnings rose by 0.6 per cent in November and the economy added a roaring 321,000 jobs in the same month, today jobless figures continued the trend of positive data for US economy. The number of people claiming unemployment cheques fell around 6,000 last week, to hit 289,000 (a seasonally adjusted figure). This [...]
The UK, Alibaba and Nigel Farage are the biggest winners of 2014 December 18, 2014 As the year draws to a close it's a good time to reflect and look back on who will be cheerfully toasting 2014, after looking at those poor souls who've been dealt nothing but coal this year. This lot have plenty of reason for good cheer this holiday season – here's our pick of the [...]
Yellen pledges patient approach before starting to hike rates December 17, 2014 US POLICYMAKERS yesterday voted not to change its policy stance while also saying they would be “patient” before beginning to raise interest rates. The term “considerable time” was ditched from the Fed’s statement. It was initially used to signal how long rates would stay low for after the asset purchase programme ended in October. Instead, [...]
FedEx stock falls 5pc as it misses profit expectations for quarter December 17, 2014 FEDEX yesterday posted lower-than-expected quarterly earnings as results at its FedEx Ground and FedEx Freight units missed estimates, and it reiterated an outlook analysts consider conservative, sending its stock down nearly five per cent. On a conference call with analysts, FedEx executives said labour problems at West Coast ports this year had left cargo shipments [...]
S&P prints best day in more than a year – New York Report December 17, 2014 THE S&P 500 scored its best result since October 2013 yesterday, as the Federal Reserve gave an upbeat assessment of the economy and said it would take a patient approach toward lifting interest rates. The rally, which followed a three-day losing streak, was also driven by a 4.2 per cent gain in the S&P energy [...]
Federal Reserve policy statement: Interest rate hike is getting closer December 17, 2014 The Federal Reserve's policy statement shows it's inching closer to an interest rate hike. Here are some of the key takes. "Considerable time" is gone The Fed has dropped its "considerable time" approach to interest rates rises instead favouring "patience" in normalising policy. "Considerable time" was widely believed to mean six months so many commentators [...]
Fed meeting might change rate schedule – The week ahead on Wall St December 14, 2014 INVESTORS will focus on a two-day Federal Reserve policy meeting amid speculation the central bankers will change their view on interest rates and the economy. The Federal Open Market Committee (FOMC) meets tomorrow and on Wednesday with a statement and forecasts expected Wednesday at 7pm GMT, followed by Fed chair Janet Yellen’s press conference half [...]
Bank of England to publish transcripts from financial crisis era December 11, 2014 City economists will gain an unprecedented level of insight into the Bank of England’s decision-making process, as Mark Carney yesterday agreed to publish more information than ever. Detailed transcripts of policymakers’ discussions at the height of the financial crisis will be published, with some redactions to cover sensitive areas. And in future, transcripts [...]