Conflicting signals halt winning streak November 10, 2009 US stocks closed mostly lower yesterday as differing views on whether the market can build on recent gains stalled the S&P 500’s six-day winning streak. The Dow industrials eked out a small gain to set a fresh 13-month high as cautious statements on the economic outlook from several Fed officials underscored the belief that easy [...]
Senator: Fed should not oversee banks November 10, 2009 THE US Senate’s top banking legislator has proposed plans to prevent a repeat of the credit crisis by creating a single US bank regulator and stripping powers from the Federal Reserve and Federal Deposit Insurance Corp. Senate Banking Committee Chairman Christopher Dodd called for the creation of three new government agencies, regulating over-the-counter derivatives, and [...]
ECONOMIC DIARY November 8, 2009 Monday 2 NovemberGermany:September imports and exports (7am)September trade balance (7am)September industrial production (11am) Tuesday 3 NovemberUK:October RICS house pricebalance (12am)BRC October retail sales (12am)September trade balance (9.30am)September DCLG UK houseprices (9.30am) US:Fed’s Lockhart speaks on US economic outlook (2.15pm) Germany: November ZEW survey on economic sentiment and [...]
TURNAROUND IN GREENBACK SOME WAY OFF November 8, 2009 JANE FOLEYRESEARCH DIRECTOR, FOREX.COMTHERE has been a lot written in the last few days about the potential for a period of consolidation in the prices of many asset classes over the next three months. The earnings performance of many US companies in the third quarter didn’t quite meet forecasts, while consumers remain under pressure from [...]
CAREERS CLINIC November 4, 2009 RICHARD REID, PINNACLE PROACTIVE I’m stuck in a rut in my job, but don’t want to leave my company at the moment. What can I do to feel more enthusiastic about my working life? THE most important thing you can do is to speak to someone – your manager, an HR person, even colleagues. Suffering [...]
THE NEW YORK REPORT November 4, 2009 US stocks mostly eked out a gain yesterday, pulling back from the day’s rally after the Federal Reserve reiterated its intent to keep rates low, but gave investors few new reasons to boost holdings. Stocks pushed higher in the hour following the FOMC statement, after the Fed kept its benchmark federal funds rate unchanged in [...]
Fed says it will keep rates low November 4, 2009 US central bankers last night pledged to keep interest rates at record lows for an “extended period” as the economy clambers out of recession. The Federal Reserve said economic activity “has continued to pick up” but added that rising unemployment and tight credit conditions were holding back consumer confidence. Fed chairman Ben Bernanke and colleagues [...]
M&S beats forecasts as it says no to discounting November 4, 2009 MARKS & SPENCER (M&S) yesterday said that there would be no blanket promotions that dominated the high street last year in the run up to the Christmas period, after its half year sales beat City forecasts. Executive chairman Sir Stuart Rose yesterday said that this year included very different circumstances. He said: “Last year people [...]
Carry trade bubble will burst, so be prepared November 3, 2009 DESPITE his notorious doomsaying, everybody does sit up and pay attention to Professor Nouriel Roubini’s views on the market. And earlier this week, he argued that the mother of all carry trades – borrowing dollars and using the proceeds to invest in countries with higher interest rates – faces an inevitable bust, with problems for [...]
This week’s MPC decision to set the tone for sterling November 3, 2009 IN THE run-up to the Bank of England’s interest rate and quantitative easing decision on Thursday, sterling remains extremely vulnerable to further selling pressure. The Monetary Policy Committee (MPC)’s moves will set the tone for the pound, and for the wider currency market, going into the end of the year. Sterling has pared back some [...]