China’s domestic stock markets look set to be denied entry into international benchmarks for the fourth year in a row next year unless Chinese regulators remove “major obstacles” before June. Dimitris Melas, head of equity research at MSCI, provider of the benchmark MSCI Emerging Markets index, gave a downbeat assessment on Thursday of the prospects for China’s A-shares to be included in the index next year in […]
Facebook unveiled a share buyback scheme on Friday, saying it would repurchase up to $6bn of its stock as its investors brace themselves for slower growth next year. In a regulatory filing, Facebook said that the board had approved the buyback on Friday. It will begin in the first quarter of 2017 but the scheme has no set expiration, leaving Facebook the flexibility to be opportunistic if […]
From Fortress Capital: Let’s face it – investing is difficult! Gone are the days of saving for retirement. The average savings account in the USA pays less than 1%. Fortunately for most investors the stock market has been going up and up, but it’s going to correct (it always does). But it hasn’t been a good ride for all investors. Many retirees now living off their retirements are […]
By Lewis Krauskopf | NEW YORK NEW YORK Arguing over politics is a Thanksgiving Day tradition, but Donald Trump’s presidential election adds a new twist to any bickering at next week’s holiday dinner table: What the new U.S. government could mean for your stock portfolio. Trump’s shock victory last Tuesday sent investors scrambling to change bets predicated on a win by Hillary Clinton, leading to huge stock […]
The Trump trade — sell government bonds because his policies might cause inflation and require huge new borrowing — has already produced a common counter reaction: do not get carried away, this is an opportunity to buy Treasuries before yields collapse again. What it shows is a conditioned response. The first time your dog barks in the night, you leap out of bed with a head full […]
China has weakened the renminbi’s trading band for a record 11th straight day, taking its currency to an eight-year low as expectations of US interest rate rises buoyed the dollar against the region’s currencies. This puts the renminbi within a hair’s breadth of suffering a 10 per cent decline versus the dollar since the People’s Bank of China caught markets by surprise with its one-off devaluation in […]
Social media giant Facebook Inc (FB.O) on Friday set a $6 billion buyback program for its Class A shares, beginning in the first quarter of 2017. Facebook’s shares were up 1.1 percent at $118.24 in after-hours trading. The company had a market value of about $337 billion at close. The company also said Chief Accounting Officer Jas Athwal had resigned, effective Feb. 17. (bit.ly/2fcxJoA) (bit.ly/2fE2wvw) Athwal has […]
Friday 17:00 GMT. Wall Street slipped as the dollar climbed to a new 13-year high and US government bond yields hit multi-month peaks on Friday on expectations that president-elect Donald Trump’s policies will boost the economy and deliver tighter monetary policy. After a mixed Asia-Pacific session, which included Japanese equities entering a bull market, the pan-European Stoxx 600 slide 0.3 per cent. Investors have been eyeing the […]
By EconMatters We delve into the recent 10-Day move in the US Dollar Index, and look at the major currency pairs in this video. The Oil and commodity related currencies may outperform against the US Dollar next week on optimism regarding an OPEC deal getting done. Expect a largely range bound market in an overall light holiday trading week. © EconMatters All Rights Reserved | Facebook | […]
U.S. stocks looked set to open little changed on Friday, with all three major indexes near record highs, a day after Federal Reserve Chair Janet Yellen sent a strong signal that interest rates would be increased next month. The Fed could raise rates “relatively soon”, Yellen said in a congressional testimony on Thursday, adding that she would serve out her term. Traders are pricing in an 83 […]
Friday 06:00 GMT. The US dollar continues to push higher and sovereign bonds remain under pressure, while major equities benchmarks are on track to finish the week on a positive note. European bourses are expected to open firmer, with spreadbetters predicting the UK’s FTSE 100 will add 5 points to 6,800 and Germany’s Dax to gain 30 points to 10,716. US index futures suggest the S&P 500 […]
|By Ramesh Mahalingam| As someone who has worked in businesses across the ownership spectrum, I am tempted to pose this question to all aspiring CFOs: All other factors being equal, what is the fundamental difference in the approach to the financial reporting function as between a publicly listed company and a privately-owned business? The answer lies not in the IFRS standards, which by and large, do not […]
For much of the last decade the derivatives industry has been caught in the gravitational pull of the Dodd-Frank act, the sweeping piece of legislation meant to contain the risk of another financial crisis. Six years after its passage, US president-elect Donald Trump wants to dismantle the law. The industry, however is not racing to join him. At this week’s Global Financial Leadership Conference, a gathering of derivatives traders, […]
November 17, 2016 by: Anjli Raval, Oil and Gas Correspondent Worries are growing that a build-up of unsold oil off the coast of the UK will keep prices down as the broader market surplus increases pressure on Opec to cut production. Industry analysts and shipbrokers said an excess of light sweet crudes, has led to a surge in the number of Aframax tankers — which carry around […]
Rising market expectations for growth and inflation were not the only things behind the selling pressure on US Treasuries after the US election. One gauge of long-term Treasury market risk known as the term premium has also climbed. The day after the election of Donald Trump as the next US president, the 10-year term premium made its biggest single-day jump since 2011. The move was within the […]
By Lucia Mutikani | WASHINGTON WASHINGTON U.S. consumer prices recorded their biggest increase in six months in October on rising gasoline costs and rents, suggesting a pickup in inflation that potentially clears the way for the Federal Reserve to raise interest rates in December. Prospects for a rate hike next month also got a boost from other data on Thursday showing first-time applications for unemployment benefits tumbling […]
LONDON Battered bonds and emerging market currencies enjoyed some respite on Thursday as the dollar took a breather from a post-U.S. election charge that has taken it to a 13-1/2 year high. Wall Street looked set for a quiet start and Europe’s main stock markets <0#.INDEXE> were shuffling sideways as the dip in global bond yields cooled bank stocks, which have been rising on better lending profits. […]
“When the economic crisis hits the elite, it means the suffering is all over the place,” said Malak Rostom, the vice president of the student union. “If we can’t afford it, we can tell how much other people are suffering.” Continue reading the main story Some Egyptians may sneer at the problems of the children of middle- and upper-class families, worried about tuition increases that dwarf the […]
SINGAPORE Crude oil futures dropped on Thursday after official inventory reports indicated a larger-than-expected build in U.S. oil stocks. Crude inventories in the United States rose by 5.3 million barrels in the week to Nov. 11, compared with expectations for an increase of 1.5 million barrels. The climb in inventories was mainly due to higher imports that averaged 910,000 barrels per day (bpd), according to data released […]
NEW YORK JPMorgan Chase & Co (JPM.N) shares dropped to a session low as volume jumped late in the trading session on Wednesday after Fox Business Network reporter Maria Bartiromo tweeted that the bank’s chief executive Jamie Dimon might get the Treasury Secretary position and a “big meeting” was planned on Thursday. Bartiromo tweeted she was “hearing” Dimon will get the position under President-elect Donald Trump with […]
Industrial and Commercial Bank of China (ICBC), the world’s largest bank by assets, has become a settlement bank for the Dubai Gold & Commodities Exchange (DGCX), the exchange said on Tuesday, allowing more investors to clear transactions in yuan. ICBC becomes the second Chinese bank to join DGCX’s wholly-owned subsidiary, Dubai Commodities Clearing Corporation, as a clearing and settlement bank. Bank of China became a member in […]
TOKYO A pause in both the sell-off in global bonds and sharp rise in the dollar following Donald Trump’s election victory, together with Wall Street’s record high overnight helped Asian shares steady on Wednesday from a four-month low struck a day earlier. President-elect Trump’s plans to cut taxes and boost infrastructure spending would boost demand while his proposals to deport illegal immigrants and impose tariffs on cheap […]
|By Matein Khalid| Donald Trump’s shock win will have a profound impact on the GCC economic constellation via multiple feedback loops. His economic policies mean a much higher US dollar, anathema to GCC economies since it correlates with stock/property market crashes, banking stress and oil slumps. This is the macroeconomic linkage due to the GCC US dollar peg whose lessons the region learnt the hard way in […]
The main US markets regulator on Tuesday approved a plan to introduce a vast surveillance system to monitor trading on the $23tn US stock market, ending six years of delays. The move by the Securities and Exchange Commission sets in motion a timetable to bring to reality its Consolidated Audit Trail, a single data warehouse that collects the millions of orders and quotes that daily pass across […]
