New York Report: Dow and S&P drop over Fed uncertainty November 12, 2013 THE DOW and the S&P 500 declined yesterday after rising bond yields increased debate over how soon the Federal Reserve would start trimming its stimulus programme. Fed officials offered diverging views and added to the uncertainty about the outlook for the Fed’s easy-money policies. Among them, Dallas Fed president Richard Fisher told CNBC that the [...]
What the other papers say this morning – 12 November 2013 November 12, 2013 FINANCIAL TIMES Shadow banks reap Fed rate reward Loosely regulated non-bank lenders have emerged as among the biggest beneficiaries of the Federal Reserve’s ultra-low interest rates with three specialist categories increasing their assets by almost 60 per cent since the height of the financial crisis. Such lenders, widely considered part of the “shadow banking” system, [...]
London Report: BT and Shire lift FTSE as markets remain bullish November 11, 2013 BRITAIN’S FTSE 100 rose yesterday, boosted by signs of a strengthening global economy and major deals for pharma group Shire and telecoms group BT. Shire rose to an all-time high after beating competitors to buy ViroPharma, in a $4.2bn deal implying a 64 per cent premium to the stock price of the US rare diseases [...]
New York Report: US stocks stall as investors await Fed data November 11, 2013 U S STOCKS fluctuated between slight gains and losses yesterday after a five-week rally as investors waited for some direction from economic data or the Federal Reserve. The market’s pause comes in advance of remarks later this week by Fed chairman Ben Bernanke and vice chairwoman Janet Yellen, who is President Barack Obama’s nominee to [...]
DailyFX: Analyst picks November 11, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short euro-dollar and pending short Aussie-dollar Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks The European Central Bank (ECB) meeting, the third quarter US GDP figure, and the October US non-farm payrolls (NFP), all generated immense volatility in euro and [...]
New York Report: Market awaits Fed comments on US stimulus November 10, 2013 THE US stock market’s rally could be put to the test this week if comments from Federal Reserve officials including Janet Yellen add to views the central bank could be scaling back its stimulus plan sooner rather than later. While this week is light on economic news, bond yields have been rising, giving further credence [...]
Rose blooms in Turkey to turn up heat on Stenson ahead of Dubai November 10, 2013 ENGLAND’S Justin Rose moved a step closer to usurping Race To Dubai leader Henrik Stenson at next week’s season finale with a third-placed finish at the Turkish Open yesterday. Rose scored a final round 65 and had a share of the lead after a birdie at the 16th hole, but eventually finished four shots behind [...]
US economy adds more jobs than expected in October November 8, 2013 "First Friday" jobs day is back in the US with nonfarm payrolls jumping up 204,000 in October, after analysts predicted a 125,000 gain, and a previous figure of 163,000 (revised up from 148,000). The unemployment rate in October was up 7.3 per cent, in line with expectations – up from September's 7.2 per cent increase. [...]
What you need to know before the open – 08/11 November 8, 2013 Losses in both the US and Asia, after Twitter's strong debut onto the New York Stock Exchange sparked fears of a brewing tech bubble, will see the FTSE100 open -35pts at 6660, says Mike van Dulken, head of research at Accendo Markets. Morning call: we are calling the #FTSE +7 at 6753. — DavidMadden_IG (@DavidMadden_IG) November [...]
Strong growth in US economy beats forecasts November 7, 2013 THE US economy grew well ahead of expectations in the third quarter of the year, expanding by 2.8 per cent on an annualised basis, according to the first official estimate. Though the figures revealed a slowdown in personal consumption yesterday, a rise in inventories allowed for a quicker pace of growth. The rate was faster [...]