Promising US retail data fuels optimism September 14, 2010 STOCKS were little changed yesterday after promising data from the retail sector fed recent optimism that the economic recovery, while slow, is proceeding. Retailers were a bright spot after data showed US retail sales rose in August for their largest gain in five months. Best Buy’s higher-than-expected quarterly profit and raised outlook validated the government [...]
All to play for as the dollar either rallies or divebombs September 14, 2010 NEXT Thursday 23 September at 8am, analysts and commentators will convene for a forex jamboree at the Grange Hotel near St Paul’s. City A.M. editor Allister Heath will be talking forex with leading currency analyst Boris Schlossberg of GFT, and all readers are invited to attend – for free. Heath says: “This is a great [...]
Captain Monty’s smiling with Euro six-shooters September 13, 2010 ONLY one smile would have beamed broader than that of Martin Kaymer after the German cruised to a third title of the season at the KLM Open – Colin Montgomerie’s. Since Ross Fisher won at the Irish Open on 1 August, Monty’s 12-man team for the Ryder Cup at Celtic Manor in a little over [...]
S&P RALLY TO OVERSHADOW US JOBS DATA September 13, 2010 CFD MARKET STRATEGIST, GFT LAST week saw very low trading volumes thanks to US Labor Day, Eid and Rosh Hashanah. But trading desks are back to full strength and market participants are anxious to get back to work to make full use of the trading time that’s left in 2010. We kicked off in fine [...]
SPORT | IN BRIEF September 12, 2010 US Open final postponed TENNIS: The US Open men’s singles final between Rafael Nadal and Novak Djokovic was declared a wash-out last night and postponed until today after heavy rain at Flushing Meadows. It is the third year in a row that the US Open final has been played on a Monday night with the match expected to [...]
US Beige Book shows growth rate is slowing September 8, 2010 THE US Federal Reserve released its snapshot of the economy yesterday, which showed “widespread signs” of slowing in recent weeks. The Fed said in its Beige Book survey of businesses that three of the 12 districts questioned said economic growth was mixed or slow. Seven districts away from the east cost reported modest growth between [...]
Wall Street closes up on light trading September 8, 2010 US stocks rose yesterday as investors latched onto positive news out of Europe in the latest in a string of low-volume sessions suggesting little confidence in market direction. Bank stocks recovered from Tuesday’s losses, with JPMorgan up 2.2 per cent and the BKW bank index up 1.7 per cent. A successful Portuguese debt offering as [...]
Commodities drive surge in food inflation September 7, 2010 FOOD price inflation surged to its highest level in more than a year as rising commodity prices fed through into the supermarkets, the British Retail Consortium (BRC) will say today. The BRC’s monthly shop price index shows that annual food inflation increased to 3.8 per cent in August from 2.5 per cent in July, the [...]
Fed should be prepared to embark on a new stimulus blitz, says ex-vice chair September 6, 2010 THE Federal Reserve should not announce a limit on its actions if it resumes purchases of Treasury securities to stimulate the US economy, the former vice chairman of the central bank said. Donald Kohn, who retired as vice chairman last week, told the New York Times in an interview published yesterday that the economy was [...]
Murray out after epic Wawrinka clash September 5, 2010 BRITAIN’S Andy Murray crashed out of the US Open last night after a dramatic third-round defeat to Switzerland’s Stanislas Wawrinka. Limping Murray twice needed medical attention at courtside before succumbing 6-7 (3-7), 7-6 (7-4), 6-3, 6-3 in an epic match that lasted three hours and 56 minutes. The Scot recovered from a shaky start to [...]