Submitted by Lance Roberts via RealInvestmentAdvice.com, A few week’s ago I discussed the post-election surge in the market based on rather optimistic outlooks as opposed to the technical underpinnings that currently exists. As I specially stated in the weekend newsletter entitle “Dow 20,000” the market was beginning to take on an eerily similar feeling: “If this market rally seems eerily familiar, it’s because it is. If fact, the backdrop […]
Nobody likes to admit going along with the consensus. It sounds better to be contrarian, and in markets there is far more money to be made when you latch on to an unpopular notion that turns out to be correct. That is how you get to buy things cheap. But sometimes the herd gets it right, even if it gets overexcited and “overshoots” its target. On balance, […]
January 6, 2017 by: Adam Samson in New York US wage growth accelerated to the quickest pace since 2009 last month, underscoring rising inflationary pressure as President Barack Obama prepares to pass the torch to Donald Trump. Average hourly earnings climbed 0.4 per cent in December from the previous month, beating expectations for a 0.3 per cent pick-up, the Labor Department said in the final employment report […]
As the first battery cells roll off the production line at Tesla’s 1.9m sq ft Gigafactory in Nevada a scramble is under way to secure supply of the lithium that is their key ingredient. This week a small Australian mining company sold a lithium prospect in west Africa to a Chinese buyer for $78m — or more than 2,000 times the amount it paid for the deposit […]
Oman’s sovereign net foreign assets are forecast to fall to 28 percent of GDP by 2018 from 48.5 percent at the end of 2016 due to external debt issuance and draw-downs from wealth funds to finance budget deficits, according to Fitch Ratings. The ratings agency, which also said in a statement that the earlier sharp fall in oil and gas prices had hit Oman hard, published Oman’s […]
Something remains very broken with the US labor market: while the unemployment rate remains just shy of the lowest print since August 2007, rising fractionally to 4.7%, wage growth for most workers, as reported earlier, rose just 2.5%, far below the 4.0% it was when the unemployment rate last hit 4.7%. This continues to vex economists who have vowed that if only one lowers the unemployment rate […]
By Yashaswini Swamynathan U.S. stocks edged lower on Friday after data showed employment in December rose less than expected but a rebound in wages suggested sustained growth in the labor market. The public and private sectors together added 156,000 jobs last month, a U.S. Labor Department report showed, compared with 204,000 jobs added in November. Average hourly earnings increased 10 cents, or 0.4 percent, after slipping 0.1 […]
The 16-member SEA-ME-WE 5 Consortium, in which Dubai-based telco du is a stakeholder, has announced the completion of a 20,000km subsea cable infrastructure on schedule. The project is in line with the UAE National Vision 2021 and the National Agenda of sustainable environment and infrastructure, news agency WAM reported. It added the investments from du were instrumental in bringing SEA-ME-WE 5 to the UAE. South East Asia–Middle […]
Friday 02:30 GMT Overview Asia’s markets were bracing for key US jobs data on Friday, leaving stock indices flat and most currencies higher against a wobbling dollar. Within the region, attention was on the Chinese renminbi, which paused for breath after enjoying its biggest two-day rally against the dollar since the offshore market was created in 2010. Hot topic While currency markets are looking at the renminbi, […]
With all eyes likely on wage growth indications in the subtext of tomorrow’s payrolls report (following The Fed Minutes’ comments on full employment), Goldman Sachs is forecasting a better-than-expected 0.3% rebound in average hourly earnings (helped by more favorable calendar effects) and a better-than-expected 180k payrolls print (albeit with a small rise in the unemployment rate). However, they are careful to note that any downside can be […]
India will on Friday get its first official indication of the impact of Prime Minister Narendra Modi’s war on cash on the larger economy. The country’s statistics ministry will release its estimate of growth in gross domestic product for the current fiscal year and analysts will be watching to see if it can maintain its 7.6% rate despite the severe cash shortage sparked by the Nov. 8 […]
Manama, Kingdom of Bahrain, 05 January 2017 The Kingdom of Bahrain’s national carrier, Gulf Air, today began its official 14-day countdown to the highly anticipated launch of the airline’s first flight to Bandaranaike International Airport, in the Sri Lankan capital Colombo, which will commence on 19th January 2017 with 5 flights per week. In advance of the route launch Gulf Air Chief Executive Officer, Mr. Maher Salman […]
Did you know that 89% of top-level domains are now signed with DNSSEC? Or that over 88% of .GOV domains and over 50% of .CZ domains are signed? Were you aware that over 103,000 domains use DANE and DNSSEC to provide a higher level of security for email? Or that 80% of clients request DNSSEC signature records in DNS queries? All these facts and much more are […]
Xiaomi, the Chinese smartphone maker, said that its revenues in India had exceeded $1bn last year as it looks abroad for growth amid continuing competitive pressures at home. Chinese-owned technology companies have so far led the smartphone market in India. The subcontinent is seen as the next big untapped market for mobile makers at a time when growth has begun to flag elsewhere. Sales of Xiaomi’s smartphones […]
Mexico’s central bank intervened in the foreign exchange markets to halt the peso’s record slide against the dollar but failed to provide anything more than temporary respite for its battered currency. The peso responded to the move, the first of its kind since the election of Donald Trump, with a 1.5 per cent rise against the dollar. Having tumbled to another all-time low of 21.61 pesos on […]
By Susan Cornwell and Susan Heavey | WASHINGTON WASHINGTON Senate Democrats on Thursday demanded an ethics probe into Tom Price, President-elect Donald Trump’s pick for U.S. health secretary, following a report that the fierce Obamacare critic traded in healthcare company stocks while pushing legislation in Congress that could affect those shares. Senate Democratic leader Chuck Schumer and others made their comments as congressional Republicans moved ahead with […]
After a near double-digit rally in US stocks since Donald Trump’s election victory, the question for investors is whether the outlook for corporate profits can begin to justify investors’ newfound optimism. Much of the rally has been underpinned by hopes that a Trump administration will boost corporate profits through lower corporate taxes, a more accommodative regulatory regime and a more confident US consumer. Corporate chief executives will […]
Increased number of visitors and hotel occupancy seen during Hajj and Umrah season January 05, 2017 Elaf Group, a SEDCO holding company, and a leading provider of travel, tourism and hospitality services, has recently seen growth spikes in the tourism sector of Saudi Arabia during the Umrah season and the recent celebration of Prophet Muhammad’s (pbuh) birthday. This was evident in the increase of occupancy rate in […]
Thursday 15:20 GMT Overview A surge in the Chinese renminbi is contributing to selling of the US dollar, its retreat from 14-year highs rattling the broader market and boosting the price of gold. US and European equities are becalmed following a mixed Asian session, while Treasury yields dip from recent peaks despite what many analysts consider were a relatively hawkish set of minutes from the Federal Reserve. […]
Good morning. Here’s our morning roundup of all the media news you need to know. Want to get this briefing in your inbox every morning? Subscribe here. Embedded plentifully during the presidential campaign, the press may now leave most consumers in the cold. I’d been talking to Merrill Brown, director of the School of Communication and Media at Montclair, New Jersey State University, about Megyn Kelly’s big […]
January 4, 2017 by: Joe Rennison and Eric Platt in New York Wall Street’s debt engine started in record form at the start of 2017, as companies sought to lock in borrowing costs shortly before the inauguration of Donald Trump as US president raises hopes for faster growth and higher interest rates. Eleven companies and banks sold $19.9bn of debt in the US as global financial markets […]
BANGKOK Thai Deputy Prime Minister Prawit Wongsuwan said on Wednesday a general election will be held this year after doubts were raised by a member of the national legislative assembly. Thailand’s next polls will restore civilian rule following a 2014 coup, and will be the first under a new constitution, approved in a referendum last year, that critics say will ensure military oversight of elected governments. “We […]
After seven years of stock markets climbing ever upwards, investors found a new reason to buy in November: the shock election of Donald Trump. One oft-repeated anecdote is how the billionaire investor Carl Icahn left Mr Trump’s victory party to buy US stocks. A few days later Stanley Druckenmiller, who earlier in the year told a conference for fellow hedge fund managers to “get out of the […]
Starbucks has already established itself as the undisputed king of retail coffee chains. Now one Wall Street analyst thinks it can overtake McDonald’s as the world’s most valuable restaurant chain. The Seattle-based coffee chain’s shares fell 7.5 per cent last year, as investors warily eyed a deceleration in same-store sales from the first half to the second. The announcement last month that long-serving chief executive Howard Schultz […]
