New York Report: Wall St falls for fourth trading session in a row December 4, 2013 THE Dow and the S&P 500 finished lower for the fourth consecutive session yesterday after investors found few reasons to make big moves, with uncertainty remaining over when the Federal Reserve will start to slow its stimulus. Stocks fell for much of the session, but edged closer to break-even levels in the last hour of [...]
It’s time to end the cruel delusion of cheap money and reckless spending | City A.M. December 4, 2013 GEORGE Osborne will present his Autumn Statement to a country in the grip of a cruel economic delusion, perpetrated against the poor and the aspirational. Welfare states everywhere are spending chronically beyond their means while papering over the cracks with easy money. Budget 2013 forecast spending in excess of receipts of about £9bn a month. [...]
Three reasons why banks think gold will fall to $1,100 in 2014 December 3, 2013 Gold has struggled this year. This morning, prices tumbled to their lowest since July. Since its 2011's record high, gold has fallen 36 per cent, and investment giant UBS says it's "unlikely to regain its former appeal." . Rising interest rates, a strong dollar and uncertainty over potentially tighter monetary policy in the US have [...]
Top banks get capital approval December 2, 2013 JP MORGAN and Goldman Sachs both had their capital plans approved by the Fed yesterday. The regulator had previously told the banks to improve the processes for dealing with shareholders in a crisis, after a stress test – the CCAR – was carried out. “We are pleased that the Fed determined that our CCAR process improvements met [...]
It’s time to end the cruel delusion of cheap money and reckless spending December 2, 2013 GEORGE Osborne will present his Autumn Statement to a country in the grip of a cruel economic delusion, perpetrated against the poor and the aspirational. Welfare states everywhere are spending chronically beyond their means while papering over the cracks with easy money. Budget 2013 forecast spending in excess of receipts of about £9bn a month. [...]
A data-driven Fed could well taper in December December 2, 2013 But whenever the QE wind-down begins, a dramatic pull-back for equities will not necessarily follow In a data-heavy week for the US, investors will scrutinise consumer sentiment, revised GDP figures, and the crucial non-farm payroll report on Friday for signs that the Federal Reserve could judge the US economy ready for the start of tapering [...]
CNBC Comment: Why US equities could stay strong December 2, 2013 THE US stock markets are flying high. Last week, the S&P 500 saw gains for the eighth consecutive week. But will it continue? I was reading the most recent Barclays Global Macro Survey, and thought I’d share a few of its main findings with you. While it is no surprise that the possibility of the [...]
DailyFX: Analyst picks December 2, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Stay long sterling-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks The sterling-yen long from net ¥160.80 remains in play and, after considerable upside over the past few days, I have moved up my trailing stop. Previously, it was held [...]
The S&P 500 is on its longest winning streak in over a decade December 2, 2013 As US markets continue to enjoy the Fed's quantitative easing, the S&P 500 has risen for eight consecutive weeks in the aftermath of the temporary government shutdown. S&P rises for 8 weeks in a row, its longest winning streak in a decade. — Jamie McGeever (@ReutersJamie) December 2, 2013 Fed chairman Ben Bernanke shocked [...]
What you need to know before the open – 02/12 December 2, 2013 It's a big week for the UK, with manufacturing, construction and services PMIs for November and, of course, the chancellor's Autumn Statement on Thursday. US markets continue to go from strength to strength, with the S&P 500 hit another record high on Friday. Busyness on the macroeconomic front will be seen more widely, too, [...]