New York Report: Facebook and Tesla prompt rise in shares February 20, 2014 US STOCKS climbed yesterday after a data reading on manufacturing activity hit its highest in nearly four years, while news about Facebook and Tesla drove their shares to record highs during trading. US factory activity accelerated at its fastest pace in nearly four years in February, according to Markit’s preliminary US manufacturing purchasing managers’ index, [...]
What you need to know before the US open February 20, 2014 US stock index futures suggest markets will open lower, as investors look again towards ongoing emerging market turmoil. The continuing and severe violence in Ukraine at the moment has seen the country’s hryvnia plummet to five-year lows, and state debt insurance rising to 2009 highs. Weaker growth from China – the Markit/HSBC purchasing managers’ index [...]
What you need to know before the open February 20, 2014 Europe is expected to open lower this morning, after disappointing Chinese manufacturing data and yesterday’s release of the latest Federal Open Market Committee minutes. The minutes showed a further taper of $10bn is likely in March. The Chinese HSBC purchasing managers’ index has come in at 48.3, considerably below expectations of 49.4. Corporate news Centrica [...]
Fed backs plan to taper $10bn every month February 19, 2014 THE FEDERAL Reserve has confirmed its intention to trim the US quantitative easing (QE) programme by $10bn (£5.98bn) each month, according to official minutes released yesterday. The details of Janet Yellen’s first meeting as chair of the Fed makes official the “clear presumption” that QE will be tapered at the same pace, unless there is [...]
New York Report: Wall St edges lower as Fed minutes weigh February 19, 2014 US stocks slid yesterday in a late sell off after minutes of the US Federal Reserve’s latest policy-setting meeting indicated that the central bank will keep trimming its bond-buying stimulus unless there is a significant economic surprise. Minutes from the January meeting of the Federal Reserve’s policy-setting committee showed that several policymakers wanted to hone [...]
US storms are still playing havoc with markets February 19, 2014 While analysts thought that freakishly cold weather over the winter wouldn't dent US growth, many are now starting to question the usefulness of all recent data. Nick Beecroft, chairman at Saxo Capital Markets, says that the storms are now fooling markets. He says that "the dreadful ice and snow storms that have been battering the east [...]
What you need to know before the US open February 19, 2014 A modest open is expected in the US today, as stock futures fell on investor caution. Another weather victim: housing starts for January came in lower than expected at 880,000 from 1.1m in December (revised up from 999,000). Analysts were expecting a figure of 950,000. And it looks like it extended another icy finger into [...]
Charts: Tech take-up is faster than ever February 19, 2014 In the UK, 6.7m people have never used the internet, according to the Office for National Statistics. But that said, not only is the number 700,000 fewer than a year earlier (2012), but the total number of users is now 44.3m – that’s 87 per cent of all adults. What’s more – and as you [...]
What you need to know before the open February 19, 2014 European bourses are set to open slightly lower this morning, with Bank of England minutes in focus, followed by Fed minutes later on. Today’s UK average earnings data is expected to stay unchanged at 0.9 per cent for the final quarter – still an improvement but a large gap when it comes to proximity to [...]
Fed sets tough new rules for foreign banks February 18, 2014 THE FEDERAL Reserve has voted through tough new rules for foreign banks which will require them to adhere to more stringent capital and liquidity standards. The rules, which already apply to US bank holding companies, will hit around 100 foreign banks with at least $50bn in assets. Between 15 and 20 of those 100 banks will [...]