New York Report: Wall St falls as fears over Fed tapering weigh August 14, 2013 WALL Street stocks fell yesterday pressured by uncertainty about the Federal Reserve’s plans to withdraw stimulus, but European shares rose to 2-1/2-month highs after data showed the Eurozone emerged from recession in the second quarter. The euro slipped despite the encouraging euro zone economic data as higher US bond yields buoyed the dollar, while sterling [...]
US producer prices increase by less than expected in July August 14, 2013 Prices received for finished goods made by US producers increased by less than expected in July, according to data from the Bureau of Labor Statistics (release). Year-on-year, the producer price index (PPI) rose by 2.1 per cent, down from a 2.5 per cent rise the month and falling short of expectations of 2.4 per cent [...]
US retail sales data points to pick up in consumer spending August 13, 2013 A GAUGE of US consumer spending rose in July at its fastest pace in seven months, a sign of quicker economic growth that could strengthen the case for the US Federal Reserve winding down its economic stimulus programme. Other data yesterday showed US small business optimism improving in July, while import prices rose less than [...]
New York Report: Shares lifted by better macro data and Apple August 13, 2013 US STOCKS rose yesterday after strong economic data boosted confidence, while Apple bolstered the Nasdaq after billionaire investor Carl Icahn took to Twitter to reveal a long position in the stock. Rising US retail sales in July, combined with a higher Zew German sentiment index and Eurozone industrial production, painted a rosier picture of the [...]
Wall St The Week Ahead: Stock investors pin hopes on retail therapy August 11, 2013 WALL Street’s spotlight will fall on the consumer this week. Investors will look to earnings from major retailers and data on consumer spending with the hope that the numbers will show that Americans have indulged in some retail therapy in recent weeks. Good news on the shopping front could provide some potential catalysts for a [...]
New York Report: Microsoft’s rise helps lead US shares higher August 8, 2013 US stocks advanced yesterday, snapping a three-day losing skid as a rally in Microsoft helped lift the technology sector. The three major US stock indexes all managed to shake off early losses as Microsoft shares climbed. The stock closed up 2.6 per cent at $32.89 in heavy volume. The S&P information technology sector index rose [...]
Why governor’s monetary revolution will eventually backfire August 7, 2013 ONCE again, I find myself in a minority. Most economists – and the overwhelming majority of commentators – are delighted with Mark Carney’s shake-up of monetary policy. But while I welcome the governor’s enthusiasm, I am unconvinced by his proposals. First, the theory. Carney’s thinking is that 1) there is plenty of spare capacity in [...]
London Report: FTSE slumps to 4-week low on tightening fears August 7, 2013 THE FTSE 100 share index closed at a four-week low yesterday on concerns the Bank of England (BoE) and the US Federal Reserve may start tightening monetary policy earlier than expected. A day after two Fed officials suggested the US central bank may cut the pace of bond purchases as early as next month, the [...]
New York Report: Wall St drops again on doubt over Fed policy August 7, 2013 US stocks fell for a third straight day yesterday on growing concerns over the longevity of the Federal Reserve’s stimulus policy, which has been widely credited with fuelling the market’s gains this year. Even after shares suffered their biggest decline since 24 June on Tuesday, the market was unable to shake off comments from a [...]
Initial analyst responses to Bank of England inflation report and Q&A August 7, 2013 Some reactions to the Bank of England's quarterly inflation report and governor Mark Carney's announcement of a forward guidance policy. Joe Rundle, head of trading at ETX Capital: Sensible Fed-style strategy adopted by dovish governor BOE Mark Carney, switching things up at the Bank of England since his occupancy started in July. At the press [...]