Markets The Istanbul 100 Index slid 5.1% this morning, while the Turkish lira rebounded 3% to 2.9274 vs. the greenback, following Friday’s failed coup attempt that left 290 people dead and over 6,000 arrested. NATO allies have thrown their support … Continue reading
Markets The pound is headed for its best week against the dollar since 2009 after Theresa May returned a sense of political stability to the U.K. and the Bank of England unexpectedly kept interest rates unchanged. Sterling is up 0.7% … Continue reading
Markets Expectations are running high that Governor Mark Carney could shave 25 basis points off the Bank of England’s base rate today and/or boost its bond-buying program to ward off a Brexit recession. Sterling is rallying ahead of the announcement, … Continue reading
Markets Global crude markets have undergone an “extraordinary transformation,” swinging from a major surplus to near balance in Q2, according to the IEA, but record high oil stocks are threatening the “recent stability of prices.” Middle Eastern output exceeded 31M … Continue reading
Markets The S&P 500 has climbed back over a record it set more than a year ago, capping a stop-start recovery that has been one of the most uneven and uncertain in recent memory. The rally, which on Monday took … Continue reading
Markets Equity markets are looking to shift their focus back to corporate results, with Alcoa (NYSE:AA) kicking off the second-quarter earnings season after today’s closing bell. Yet even with the S&P 500 scraping up against a record high, triggered by … Continue reading
Markets Investors will have a key talking point in hand after the highly anticipated report on U.S. jobs growth for June is released this morning. The consensus estimate is for a nonfarm payrolls bounce of 175K after the weak tally … Continue reading
Markets The Fed didn’t raise its benchmark interest rate last month because officials worried about the “surprisingly weak May employment report,” according to the minutes of the June meeting. And that was before the Brexit vote. The outlook continues what … Continue reading
Markets By definition, minutes from central bank policy meetings are backward-looking, and that is precisely why the transcript from the Fed’s June gathering – to be released at 2 p.m. ET – will matter more than usual for investors. Since … Continue reading
Markets U.S. stock index futures are indicating a lower open after being closed yesterday for July 4. The “risk-off” sentiment follows a strong rally last week that saw major indexes turn positive for 2016. Reasons for the drop are stemming … Continue reading