What you need to know before the open – 01/11 November 1, 2013 US markets rounded off October markedly higher, despite yesterday's negative finish. Data from Europe does continue to worsen, thought, with anticipation of a potential European Central Bank rate cut next week pushing the euro down. Chinese manufacturing PMI, coming in overnight, has eased worries over a softness in recent Chinese economic activity. On the official [...]
New York Report: Fed’s fallout sends Wall St to a low close October 31, 2013 US STOCKS finished lower yesterday as the Federal Reserve’s statement the day before added to investors’ anxiety about the timing of a pullback in its stimulus programme. While it was a second consecutive day of losses for the market, all three major indexes ended October with solid gains. Dragging on the Dow and the S&P [...]
What you need to know before the open – 31/10 October 31, 2013 The Fed's decision last night to stick with its current stimulus level wasn't a big surprise, given the probable damage caused by shutdown. US markets were dragged down, however, on the absence of discussion on shutdown, tight credit conditions and high interest rates. Asian markets were cooled by the news, too, with Seoul shares edging [...]
Fed sticks with stimulus level as US deficit eases October 30, 2013 THE US Federal Reserve revealed a relatively bearish outlook over the country’s economy last night as it confirmed that it would stick to its massive $85bn (£53bn) a month stimulus programme. Yet there was some rosier news in a separate data release by the US Treasury department, which said that the state’s deficit has been [...]
London Report: FTSE ekes out gains ahead of Fed’s decision October 30, 2013 BRITAIN’S top shares edged to a new five-month high yesterday, boosted by good earnings from the likes of Next but suffering in later trade from profit taking ahead of the US Federal Reserve policy decision. Britain’s second-biggest clothing retailer rose 4.7 per cent after it raised its 2013 profit guidance and third-quarter sales came in [...]
New York Report: Bernanke pulls Wall St lower with dim view October 30, 2013 US STOCKS fell yesterday, with the S&P 500 snapping a four-day streak of gains after the Federal Reserve said it had a weaker growth outlook for the economy, even as it held steady with its stimulus programme for the time being. Trading was volatile following the release of the statement, with the major US stock [...]
US inflation soft as consumer price index climbs in line with expectations October 30, 2013 The US consumer price index for September met expectations, increasing 0.2 per cent, following August's 0.1 per cent rise. Excluding food and energy, though, prices went up by only 0.1 per cent for the month – the same increase as in August and below the consensus prediction of a 0.2 per cent rise. All the [...]
What you need to know before the open – 30/10 October 30, 2013 US equity markets saw another record close yesterday, and the German DAX continues to break records, too. European stocks were marginally behind. Asian markets closed up today. Yesterday, the ECB's Ewald Nowotny ruled out the prospect of further rate easing in Europe in the near future. ETX Capital #morningcall FTSE +19, DAX +20, CAC [...]
Dow Jones at all-time high October 29, 2013 US STOCK markets closed at record highs last night on the expectation of ongoing money printing from the Federal Reserve. The government shutdown hit consumer confidence, indicating the economy may slow a little and so the Fed will keep its stimulus programme running at full tilt for longer, pumping up markets. The Dow ended the day up [...]
New York Report: S&P 500 and Dow hit highs over Fed news October 29, 2013 THE DOW and S&P 500 ended at record highs yesterday after economic data supported views that the Federal Reserve would keep its stimulus intact for several months and IBM rallied after the company announced a stock buyback. IBM gave the biggest boost to the Dow, which led the day’s gains. The stock, which also helped [...]