Bloomberg US equity markets fell in lighter-than-usual trading as investors waited for lawmakers to vote on tax cuts in the world’s largest economy. Treasuries declined while the dollar rose. The S&P 500 Index dropped after prospects for passing the tax plan had sparked a two-day rally of almost 1.5 percent that took the benchmark within a whisker of 2,700 for …
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Stocks gain on US tax plan, dollar sinks, Treasuries decline
Bloomberg Stocks kicked off the penultimate week of the year on a positive note after Republicans reached an agreement on the shape of US tax cuts. The dollar dropped and Treasuries headed lower. The S&P 500 Index rose to new highs Monday, and the KBW bank index rose to its highest since October 2007, as investors focussed on the progress …
Read More »Pound’s prospects to be shaped by Brexit trade talks
Bloomberg Pound traders are about to get their first insight into how the currency may fare in the next phase of the Brexit talks as negotiators move on to the potentially more complicated stage of discussing trade. Sterling may be vulnerable as UK Prime Minister Theresa May meets with her cabinet ministers on Tuesday to begin mapping out what they …
Read More »Stocks rise, but dip from session peak on tax deal
Bloomberg US stocks gained but moved off their session highs after Congressional leaders said they’d reached a tentative agreement on a tax overhaul package. The dollar dropped and Treasuries rallied following reports that a measure of US inflation fell short of estimates, only hours before the Federal Reserve was expected to announce its decision on interest rates. All major equity …
Read More »US stocks rise, dollar higher before Fed meeting
Bloomberg US stocks gained, the dollar advanced and Treasuries slipped after data showed signs of inflation in producer prices as the Federal Reserve starts its two-day meeting. The S&P 500 Index edged higher after closing at a record, and the other major US equity gauges were up. Telephone shares led gainers, and semiconductor stocks led decliners. European equities pushed to …
Read More »US stocks rise despite New York City explosion; oil gains
Bloomberg US stocks were higher after an explosion rocked midtown Manhattan. The dollar fell and Treasuries rose. All major equity gauges were higher, led by gains in technology and energy shares, as markets digested news of the pipe bomb blast on Monday morning in the Times Square subway station on 42nd St. that injured four people, including the suspect. Oil …
Read More »Pound to face twin forces of BOE, Brexit once again
Bloomberg With an initial Brexit deal out of the way, pound traders will be focussing on whether optimism over that lasts and shifts the Bank of England’s thinking this week. Even with an agreement to move Brexit talks on to trade and no expectations for the BOE to change interest rates, news on either front could drive the currency, according …
Read More »Global stocks pare losses as dollar advances with bonds
Bloomberg Global stocks pared the worst of their losses after a selloff in Asia amid a broad risk-off mood. Treasuries rose with the dollar as investors’ focus turned to efforts to avert a US government shutdown . The S&P 500 fluctuated as software companies advanced and automotive stocks declined. The MSCI World index pared losses of 0.4 percent, with the …
Read More »Tech shares in US rebound as metals fall with euro
Bloomberg US technology shares rebounded on speculation the recent selloff went too far, while the dollar rose and industrial metals dropped. The Nasdaq Composite Index climbed as chipmakers and software companies paced gains. The S&P 500 was little changed as investors weighed the latest developments in efforts to overhaul taxes in the world’s largest economy, including the surprise inclusion of …
Read More »Pound slides amid Brexit-talks conundrum
Bloomberg The pound headed for its biggest decline in three weeks against the dollar after Ireland said it may not agree to alter a proposed border deal with the UK that reportedly stalled Brexit talks on Monday. Government bonds gained. Sterling weakened versus all of its 16 major peers after Britain and the European Union said that they hadn’t made …
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