The Notebook: Victoria Scholar on stocks, China and Spiderman June 6, 2023 The notebook is a place where interesting people say interesting things. Today, it’s Victoria Scholar, head of investment at Interactive Investor The market mood is picking up with the S&P 500 enjoying its best week since March. The Dow surged over 2% on Friday, its biggest one-day gain since January and the Nasdaq Composite completed [...]
FTSE 100 close: US recession jitters outweigh oil price surge on London index June 5, 2023 London’s FTSE 100 lost momentum in the afternoon session today after new data revealed the US economy is wilting under the weight of the Federal Reserve’s interest rate hikes. The capital’s premier index slipped 0.1 per cent to 7,600 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of [...]
Markets continue to be wary as interest rate meeting looms in coming weeks June 5, 2023 Bitcoin is trading just below $27k this morning, with Ethereum following a similar pattern, holding above $1.8k.
Wall Street leaps after strong US jobs report June 3, 2023 Stocks moved higher on Friday after a strong report on the US job market suggested a recession may not be as close as Wall Street had feared. The S&P 500 leaped 1.5 per cent for the latest surge in a rally that has vaulted it nearly 20 per cent since mid-October. That put Wall Street’s [...]
Pound records strong week as London markets expects Bank to hike rates further June 2, 2023 The pound has recorded its strongest week against the dollar in half a year as investors expect the Bank of England to keep hiking rates after the Fed has paused. Across the week, the pound gained more than 1.5 per cent against the dollar to trade at over $1.2530 on Friday afternoon. The pound performed [...]
Wall Street rises on hopes the Fed may take it easier on rate hikes June 2, 2023 Wall Street rose on Thursday with hopes that the Federal Reserve may soon take it easier on its hikes to interest rates. The S&P 500 rallied 1 per cent after a suite of reports painted a picture of a split US economy. The job market remains solid, but manufacturing is weakening and retailers are seeing [...]
Euro inflation slumps faster than expected to 6.1 per cent leaving UK further afield June 1, 2023 Inflation in Europe is falling much faster than expected, further marking Britain out as suffering the toughest price pressures in the developed world. The rate of price increases in the 20 countries using the euro dropped to 6.1 per cent last month, down from seven per cent in the previous month, according to eurostat. That [...]
Markets welcome US debt ceiling deal passing first hurdle in Congress June 1, 2023 Investors gave a muted welcome to the U.S. House of Representatives passing a bill that would suspend the government’s borrowing limit and avert default, with market focus now turning to the Senate and the interest rate outlook. Asian markets were trading higher when the bill cleared the house and held their gains. Investors nudged S&P 500 futures from slightly [...]
Bank of England to surpass Federal Reserve and hike interest rates to 15-year high May 31, 2023 The Bank of England will have to hike interest rates to their highest level in more than 15 years to tackle sticky inflation that will stay above its target for at least another three years, a top Wall Street investment bank has warned today. Researchers at Goldman Sachs suspect businesses will carry on passing on [...]
Goldman Sachs to make another round of job cuts as dealmaking slump continues – reports May 31, 2023 Goldman Sachs is considering another round of job cuts over the next few weeks as the drought in dealmaking continues to weigh on performance. According to Reuters, the layoffs – which would total not more than 250 – could include senior figures like partners and managing directors. The news was first reported by the Wall [...]