Screenshot: How Reddit shone a light on the madness of markets January 29, 2021 This week **Media Moment of the Week: Das ist Numberwang! **How Redditors beat the market at its own game **Do influencers need a rebrand? Media Moment of the Week: Das ist Numberwang! This week’s media moment is one that journalists the world over would probably rather forget but, being the intrepid media reporter that I [...]
US jobs: Employment falls by 123,000 in December January 6, 2021 Newly released US jobs figures reveal a fall of 123,000 private sector jobs from November to December. The stats paint a grim picture of the US economy at the end of a pandemic-affected year, with the fall reversing months of gentle growth in non-farm employment. Most of the job losses came in large firms, with [...]
New York Stock Exchange scraps plans to delist Chinese telecoms firms January 5, 2021 The New York Stock Exchange has scrapped plans to delist three Chinese telecoms stocks in a shock U-turn. In a statement last night the exchange said it would no longer go ahead with plans to remove China Mobile, China Telecom and China Unicom Hong Kong from its index. It said the decision came “in light [...]
Investor Central: Funds to keep an eye on in 2021 January 4, 2021 Following an unpredictable 12 months, investors are turning their attention to opportunities in 2021. Square Mile-based Tom Stevenson, investment director for personal investing at Fidelity International, shared with City A.M. what his fund picks are for 2021. “None of us possesses a crystal ball. However, as I put my picks together at the end of 2020, investors [...]
Wall Street hits record high after Trump signs stimulus bill December 28, 2020 Wall Street rose to record highs as markets opened this afternoon after US President Donald Trump signed a long-awaited coronavirus stimulus bill. The S&P 500 rose 0.7 per cent in early trading, while the Dow Jones and Nasdaq were also up 0.69 per cent and 0.67 per cent respectively. It comes after Trump belatedly signed [...]
Nasdaq hits record high as Apple and Facebook enjoy bounce December 7, 2020 The tech-heavy Nasdaq has hit a record high today rising 0.4 per cent, as several of its largest constituents rose in value. Apple stock jumped 1.56 per cent and Facebook rose 2.05 per cent, but a decline in names such as Alphabet and Microsoft kept major averages in check. Large cap growth stocks, which had [...]
Can asset management’s Covid-19 response help regain public trust? November 27, 2020 | City Talk The tenth anniversary of the Global Financial Crisis (GFC) back in 2018 sparked a deluge of articles recalling the days the financial system stared into the abyss. They questioned just how close we came to complete collapse, but also whether it could happen again. Had anything changed in the decade that followed? From some perspectives [...]
Before the bell: Volatility remains low post-Thanksgiving November 27, 2020 It was a subdued session yesterday as the US celebrated Thanksgiving and in turn the US stock market was closed. Dealers in the rest of the world largely sat on their hands while their US-based counterparts enjoyed their turkey. It was a quiet day in terms of news flow and there was little appetite for [...]
US unemployment benefit numbers spike on fresh Covid-19 resurgence fears November 19, 2020 The number of Americans filing new claims for unemployment benefits unexpectedly rose last week as new business closures to control the spiraling Covid-19 infections unleashed a fresh wave of layoffs and further slowed the labor market recovery.
Biden the bullet: US President-elect unveils $7 trillion coronavirus recovery package November 16, 2020 US President-elect Joe Biden has unveiled details of his $7 trillion coronavirus recovery package, as the Democrat lays the groundwork for America to “Build Back Better” from the worst Covid death toll in the world. Biden today announced his administration would invest $300bn in “the most critical competitive new industries and technology” to help the [...]