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Markets Oil prices are edging closer to $46 a barrel, fueled by talk of producers taking action to prop up the market, although some investors cashed in during Asian hours on the 16% rally since early August. Led by top … Continue reading
Markets Chinese stocks climbed to a seven-month high today on hopes of a formal announcement regarding the Shenzhen-Hong Kong Stock Connect. “It has two positives: the first is it shows that this period of worry in Beijing about currency outflows … Continue reading
Markets All three major U.S. equity indexes rose to new highs on Thursday, in an alignment that hasn’t occurred since December 31, 1999. The records punctuate a march that defies stocks’ sharp downdraft at the start of the year and … Continue reading
Markets The world will consume less oil next year than previously thought due to a “dimmer macroeconomic outlook,” the IEA said in its monthly oil market report. The energy watchdog expects global oil demand to grow by 1.2M barrels per … Continue reading
Markets The Bank of England’s new bond-buying program ran into trouble on its second day of operations, as yield-hungry pension funds and insurers refused offers to sell gilts to the central bank. The BoE said it would make up for … Continue reading
Markets Bulls were out in full force yesterday with the S&P hitting an all-time intraday high and oil gaining 3%, but the bears have been growling more loudly recently too. It’s already been about two-and-a-half weeks that U.S. stocks have … Continue reading
Markets There is an increasing risk that the U.S. economy has become trapped in a prolonged period of subdued growth that requires lower official rates than were previously expected, according to Fed Governor Jerome Powell. “With inflation below target, I … Continue reading
Markets With roller coaster monthly U.S. payroll gains ranging from 11,000 to 287,000 in the previous two months, traders will be looking to the July jobs numbers to provide some context for what appears to be a hiring slowdown in … Continue reading
Markets The Bank of England is expected to cut its benchmark interest rate today to a new low in its 322-year history, as part of a package to cushion a likely post-Brexit downturn. Governor Mark Carney will present the central … Continue reading
Markets The reversal in oil prices to $40 a barrel is rippling through equity and bond markets, reigniting concerns about deeply indebted companies and countries reliant on commodities. “Should oil slice through $40 towards $35, macroeconomic fears will pick up,” … Continue reading