Bloomberg Stocks fluctuated and bonds advanced, while the euro and dollar slipped as President Donald Trump tried to tackle trade on his Asia tour. US stocks opened slightly lower. The Stoxx Europe 600 Index swung between gains and losses, even as a European purchasing managers index indicated strong momentum at the start of the fourth quarter. Basic resources shares outperformed …
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Nigeria’s naira problem sees no end
Bloomberg Nigerian officials are increasingly confident the naira’s troubles are over for good. Some investors disagree. Portfolio inflows have risen in the past three months with crude prices increasing above $60 a barrel and money managers taking heart from a new foreign-exchange trading window, in which the naira has converged with the black-market rate. That prompted central bank Governor Godwin …
Read More »Pound likely to follow politics as Britain renews Brexit talks
Bloomberg The pound is likely to be driven this week by the state of Brexit negotiations and UK politics, after losing support from bets on central bank policy tightening. Sterling could see any slide exacerbated should it drop below $1.30, according to Morgan Stanley, with the resumption of Brexit talks, fallout from a harassment scandal and industrial data to provide …
Read More »Gap widens between market’s winners, losers
Bloomberg To the naked eye, it was just another up week for stocks. The S&P 500 Index rose 7 points, the eighth time in a row it’s been up. Beneath the surface a barrage of headlines on everything from earnings to the Federal Reserve and taxes were drawing brighter lines between winners and losers. While benchmarks muddled along and broader …
Read More »US stocks pare gains, small caps turn negative on tax details
Bloomberg US stocks pared gains and small caps turned negative as the prospects for tax reform remain dimmed by political wrangling in Congress. The latest evidence that the global economy is on firm footing earlier boosted equities around the world and lifted the dollar. The Russell 2000 Index slumped on speculation that failure to cut taxes would hit small companies …
Read More »US stocks, dollar mixed before tax details, Fed’s decision
Bloomberg US stocks erased early gains to trade little changed, while the dollar and Treasuries struggled for direction as investors awaited details of Republican tax cuts and the Federal Reserve’s latest decision. The euro slipped as data showed inflation unexpectedly slowed in the region. Small caps advanced, while the S&P 500 pared a gain as a torrent of decisions with …
Read More »US stocks mixed as tech gains, dollar weakens; euro gains
Bloomberg Most US stocks fell, with large-cap tech stocks bucking the trend, while the dollar slipped and Treasuries advanced as markets struck a tone of caution at the start of a week stuffed with catalysts. The euro gained. The S&P 500 Index opened lower as investors assessed the impact of the first charges in the broad investigation to Russian meddling …
Read More »Bond traders face their fears in week that may change everything
Bloomberg This week is fraught with peril for Treasuries traders, no matter if they’re bulls or bears. The next five trading days will bring a torrent of market-moving information: President Donald Trump is poised to finally announce his nominee to lead the Federal Reserve; US central bankers have an interest-rate decision to make; a House committee is set to release …
Read More »US stocks, dollar drop as traders sift earnings news
Bloomberg US stocks slumped as investors sifted through the latest batch of corporate earnings, while the dollar fell with Treasuries amid speculation recent moves had gone too far too quickly. The S&P 500 Index fell from near a record high, with weak results hammering shares in Chipotle Mexican Grill Inc. and Advanced Micro Devices Inc. Ten-year Treasury yields retreated after …
Read More »Dow hits record high after strong earnings reports
Bloomberg Solid earnings reports from US blue-chip companies sparked optimism in the world’s largest economy, lifting equities, the dollar and Treasury yields. The Dow Jones Industrial Average hit a record high Tuesday after Caterpillar Inc. and 3M Co. delivered results that topped estimates, while General Motors Co. and Fiat Chrysler NV also rallied on earnings. Benchmark Treasury yields punched through …
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