Bloomberg US stocks rose to a three-week high, as renewed gains in Treasuries that pushed yields further below 2.9 percent alleviated angst that higher rates would accelerate tightening. The dollar strengthened. The S&P 500 Index climbed for a third day, joining gains in European and Asian equities. Volume was low as investors await the first public comments from Federal Reserve …
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China-backed Singapore bourse gets go ahead as third futures exchange
Bloomberg Singapore paved the way for a third derivatives exchange in the city, a month after Deutsche Boerse AG called quits on its ambition for a futures venue in the Asian nation. Asia Pacific Exchange Pte, backed by Chinese investors, has received licenses from the Monetary Authority of Singapore to operate a derivatives exchange and clearinghouse, Chief Executive Officer Eugene …
Read More »Stock recovery gets its groove back after a week of false starts
Bloomberg Bulls wondering if a rally would ever hold again got an answer on February 23, as a rousing advance in the S&P 500 salvaged the week and nearly erased losses from the worst day of the February selloff. Following three days in which every gain proved ephemeral, the 1.6 percent surge left the benchmark gauge for US equities up …
Read More »Austria seeks Bitcoin rules based on gold
Bloomberg Austria’s finance ministry is looking at the trading rules for gold and derivatives as inspiration for drawing up regulations on cryptocurrencies for the nation and for the European Union (EU). The goal is to prevent Bitcoin and similar virtual currencies from facilitating money laundering—a crime that’s no stranger to the precious metals business— and to bring trading platforms under …
Read More »US stocks rise with dollar before Fed minutes; Treasuries decline
Bloomberg US stocks rose for the seventh time in eight days and the dollar’s rally reached a fourth day as strong corporate results bolstered optimism in the economy. Treasuries edged lower as investors await Federal Reserve meeting minutes. The S&P 500 Index jumped as industrial and financial shares paced gains. The index still sits 4.8 percent below its January 26 …
Read More »US stocks erase declines as Treasuries retreat, dollar gains
Bloomberg Treasuries fell, with investors driving the benchmark yield higher as the government auctioned a deluge of bonds. US stocks pared losses in late-morning trading, looking to add to a six-day rally. The Treasury started a week of auctions totalling $258 billion on Tuesday with $151 billion of short-term bills and $28 billion of two-year notes. The two-year rate jumped …
Read More »European stocks falter after Asia rally; oil rises, dollar advances
Bloomberg European shares failed to carry forward a rally from Japan and the US, where the S&P 500 index notched its best week in five years. Oil climbed while the dollar advanced against most major peers. The Stoxx Europe 600 index slipped as auto and consumer stocks dropped. That contrasted with Asia, where equities built on their best week since …
Read More »What shaped stock market’s $3 trillion trauma – any guesses
Bloomberg Want a neat narrative? There isn’t one. Stocks buckled, $3 trillion was lost, then just as quickly, roughly half of it came back. Nothing quite explains every little twist and turn. Much of it remains a blur. But there are clues to be gleaned from the behaviour of buyers and sellers. Several key facts stand out. One: a very …
Read More »Region may have upward bias on oil, interest rates
DUBAI / Reuters Middle Eastern stock markets may have an upward bias on Sunday because of a gradual recovery in oil prices and in Egypt’s case, last week’s interest rate cut, although there appears to be little reason for any strong rise in equities. Wall Street closed marginally firmer while Brent oil continued its gradual recovery, settling up 51 US …
Read More »US stocks climb as dollar slumps
Bloomberg US stocks advanced while the dollar fell and Treasuries rose as financial markets looked ahead to Wednesday’s inflation report. The S&P 500 Index climbed for a third day, its longest winning streak since mid-January, amid a rally in financial shares and food retailers. Assets seen as safe havens gained as last week’s surge in volatility continued to weigh on …
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