The Nasdaq Composite breached the 6,000 level for the first time on Tuesday and extended its double -digit gain for the year as investors focus on owning companies with strong growth prospects. The tech-heavy benchmark climbed as much as 0.7 per cent to 6,022 early in the day after closing at a record high in the previous session. Renewed appetite for technology stocks and a rally in […]
By Yashaswini Swamynathan U.S. stock index futures rose on Tuesday, building on a day-earlier rally as investors assessed quarterly earnings, while awaiting a major tax plan from President Donald Trump. * Trump promised last week to make “a big tax reform and tax reduction” announcement on Wednesday. The President has directed his aides to move quickly on a plan to cut the corporate income tax rate to […]
After yesterday’s violent gap up in stocks across the globe in response to the “expected” outcome from the French election, today the risk on sentiment has continued if to a lesser extent, with stocks in Europe, Asia all rising while S&P futures point to a higher open. Yen, gold decline, while the euro traded as high as 1.09 this morning before fading some gains; oil is up […]
By Nichola Saminather | SINGAPORE SINGAPORE Asian equities advanced on Tuesday as the return of risk appetite following a centrist victory in the first round of the French presidential election lifted several regional markets to multi-year highs, while the euro retained most of its overnight gains. Safe-haven assets, including the yen and gold remained under pressure, while the Canadian dollar fell after the U.S. announced new duties […]
By Yashaswini Swamynathan U.S. stock index futures rose sharply on Monday, tracking European and Asian stocks, as investors breathed a sigh of relief after Centrist candidate and market favorite Emmanuel Macron won the first round of the French election. * Polls showed pro-EU Macron is expected to beat right-wing rival Marine Le Pen in a deciding vote next month, reducing the chances of France taking a Britain-like […]
With president Trump optimistic, but already laying plans for a possible government shutdown – which incidentally would take place on the symbolic 100th day of Trump’s administration, incentivizing Democrats to be especially confrontational – White House budget director Mick Mulvaney tried to talk down concerns of an imminent government closure, and said talks between Republicans and Democrats in Congress could reach an agreement to avoid a government […]
As her email mess was growing, Hillary Clinton scheduled the first national TV interview of her campaign with Brianna Keilar of CNN. It went poorly. But wait. It now turns out that Clinton aide Huma Abedin had meant “Bianna,” not “Brianna” when she disclosed her belated intent to a communications aide. She wanted what she figured would be a non-threatening session with Yahoo! News’ Bianna Golodryga, who […]
By Ian Simpson | WASHINGTON WASHINGTON U.S. scientists will stage an unprecedented protest on Saturday, a March for Science provoked by steep cuts President Donald Trump has proposed for science and research budgets, and growing disregard for evidence-based knowledge. The march in Washington, timed to coincide with the Earth Day environmental event, will put Trump’s questioning of climate change and proposed cuts to federal science programs at […]
Why Lower Manhattan? The bottom tip of Manhattan island was where New York began – with Dutch fur trappers finding it a handy harbour and trading site. Today, the trading is done on the New York Stock Exchange and in the giant office towers that compete for skyline space. But among the gleaming glass are remnants of a past that goes back much further than it does […]
Len Blavatnik, the billionaire investor, has been cleared of fraud claims related to his $19bn buyout of Lyondell Chemical, according to a ruling from a US federal bankruptcy judge issued late on Friday. Mr Blavatnik combined Basell, his chemicals business, with Lyondell in 2007 to create LyondellBasell (LBI), funding the transaction with more than $20bn of debt. The business quickly collapsed from the combination of the financial […]
While geopolitical concerns and French election uncertainty are factors, The Wall Street Journal notes that many markets are flashing red on growth as investors begin to return to pre-election bets on the ol ‘new normal’ – a persistently weak economic expansion. There are clear signs that the sugar rush of Donald Trump’s victory and global-growth hopes has faded, raising doubts among some investors about whether stocks can […]
Tens of millions of iPhone owners are ready to upgrade to 2017 iPhones, fueling the so-called iPhone “supercycle,” market research firm comScore reports. Apple has always enjoyed a loyal fan base and each new product iteration attracts many existing customers looking to upgrade to the latest and greatest. A new report from comScore now reveals that tens of millions of legacy iPhone owners are looking to upgrade […]
April 21, 2017 by: Anjli Raval, Oil and Gas Correspondent Oil was set for the biggest weekly drop in a month as market confidence in Opec’s ability to overpower a resurgent US shale industry wavered. US benchmark West Texas Intermediate fell below $50 a barrel on Friday — down $1.32 to $49.39 — by 6.45pm in London. The global Brent marker dropped $1.24 to $51.75 a barrel. […]
Kimberly Hively vs. Ivy Tech Community College was the title of the gay rights case decided Tuesday by the Seventh U.S. Circuit Court of Appeals. But it could also have been called Judge Posner vs. Justice Scalia. As The Wall Street Journal’s Joe Palazzolo reports, the federal appeals court ruled that gay employees should be […] (via WSJ)
Feb 13, 2017 11:59 am IST An earnest band of Indian activists is asking rich people to boycott money, so there’s more for the needy. A motley mix of bankers, Bollywood stars and bikers have pledged their support to Prime Minister Narendra Modi’s November move to ban almost 90% of Indian currency to fight counterfeiting, tax evasion and terrorism. A story from The Wall Street Journal investigated […]
Friday 08:30 BST What you need to know ● European and Asian stock markets firm after Wall Street rally● Euro holds above $1.07 in cautious trading ahead of French election● Bund yields up 1bp to 0.25 per cent despite political tensions● Global steelmakers shrug off Trump tariff threat● Oil prices gain but gold pulls back——————- Hot topic Investor attention is turning to eurozone assets ahead of Sunday’s […]
Indian Prime Minister Narendra Modi’s surprise announcement that he was cancelling 86% of the country’s cash overnight triggered weeks of panic and long lines of people trying to exchange or deposit their old notes. The meandering lines have disappeared but India’s cash-driven emerging market is still suffering as the new bills haven’t reached every corner of the economy and consumers and companies are still struggling to shift more of their transactions […]
President Donald Trump has tried to ban people from certain Muslim-majority countries from entering the U.S. and has begun deportation raids, following through on his campaign promise to creating a more cautious, less open America. Recent migrants to the country are starting to worry how far the measures will go and some Indians are worried that the skilled-worker visas they use to enter the country could become […]
Wall Street still exudes widespread optimism that 2017 will provide another year of solid if unspectacular economic growth and only gentle interest rate rises. With the S&P 500 up over 4.5 per cent for the year, here is a series of charts that will hearten investors of a more bearish persuasion. While there are good reasons why each chart should not be taken too seriously, together they […]
Feb 16, 2017 10:46 am IST The decision of Indian Prime Minister Narendra Modi to do away with large-denomination notes in November led to a temporary cash shortage that slowed the economy and forced people to queue at banks to get money. New Delhi touted its move as an opportunity to make India’s economy less dependent on cash, saying it will help it shrink the black economy […]
Thursday 08:00 BST What you need to know ● European bourses soft despite positive Asia session and as US futures steady● Energy shares under pressure as oil struggles to recover from sell-off ● Dollar soft as sterling and euro shrug off election concerns● Sovereign bond yields hold near recent lows ● Gold prices add 0.1 per cent to $1,281 an ounce——————- Hot topic Oil prices are steadier […]
Google is reportedly planning to equip Chrome with a built-in ad blocker, which is quite of a shock considering Google’s biggest money-making strategy is through advertisements. So why is the search company baking an ad blocker into Chrome, the most popular web browser in the world? What Are You Thinking, Google? As The Wall Street Journal reports, the ad block move is a “defensive” one, as described by people […]
Jenny Strasburg/The Wall Street Journal Early Friday morning, FBI agents arrested a longtime SAC Capital portfolio manager, Michael Steinberg, on insider-trading charges, making him the most senior employee of one of the nation’s most prominent hedge funds to be snared in the government’s sprawling probe. (via WSJ)
When India suddenly banned its largest bank notes in November, it led to confusion throughout the country and slowed down the cash-dependent economy. In big cities, the cash ban appears to be spurring digital payments, as the government had hoped. But in rural India, where internet access isn’t reliable, financial access through digital services is slow to take hold. The Wall Street Journal reported on how people […]
