Bloomberg US stocks advanced as President Donald Trump prepares to lay out his tax-cut plan, while the dollar extended gains and bonds fell after Federal Reserve Chair Janet Yellen boosted expectations for an interest-rate rise in December. The S&P 500 Index was near record levels in early trading. The Bloomberg dollar index headed for a six-week peak and Treasury yields ...
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Oil slips after entering bull market on Kurdish export row
Bloomberg Oil prices slipped after entering a bull market amid heightened geopolitical tensions in the Middle East, while Trafigura Group and Citigroup Inc. both warned of a looming supply squeeze. Crude in New York fell 0.7 percent as traders cashed in after yesterday’s 3.1 percent surge. The oil market is nearing the end of the “lower-for-longer†era, with a shortage ...
Read More »US stocks higher as tech shares reverse decline
Bloomberg US stocks were higher on Tuesday with technology shares shaking off Monday’s slide. The euro extended its decline in the wake of the German election, lending support to a dollar rally as investors digest a raft of catalysts from North Korea to central-bank policy. The Nasdaq 100 Index climbed at the open, taking back some of Monday’s 1.1 percent ...
Read More »US stocks dip as investors digest Trump’s tax plan
Bloomberg US stocks slid as investors weighed the impact of the Republican tax proposal that would dramatically cut levies on corporations and the wealthy. Politics dominated trading in Europe, with the euro sliding after the German election, giving European stocks a boost. The S&P 500 Index opened lower, while the Stoxx Europe 600 Index climbed. The euro weakened against almost ...
Read More »Trump to get tax plan that targets 20% corporate rate
Bloomberg Republican tax negotiators are targeting a corporate tax rate of 20 percent, according to two people familiar with the matter. That would be higher than President Donald Trump wants—setting up a key decision for the president on a top legislative priority. Trump has called for cutting the corporate rate to 15 percent, down from the current 35 percent. The ...
Read More »Stocks mixed ahead of Fed meet; euro gains, oil rises
Bloomberg Equity markets were mixed on Tuesday, the dollar fell and Treasuries edged higher before as the Federal Reserve began a two-day meeting and investors awaited Donald Trump’s speech to the United Nations. The S&P 500 Index churned near an all-time high, stuck in one of the tightest ranges in decades. The CBOE Volatility Index slumped below 10. Europe’s equity ...
Read More »Stocks advance as US Fed week kicks off; gold drops
Bloomberg US stocks added to records, the dollar halted a two-day drop and Treasuries slipped as investors remained bullish on the American economy ahead of the Federal Reserve’s policy meeting. Gold fell as demand for havens faded. The S&P 500 Index held above 2,500, the Stoxx Europe 600 jumped the most in almost a week and equities increased from Australia ...
Read More »Sterling vulnerable as PM May poised to outline Brexit strategy
Bloomberg The pound’s rally, spurred by the Bank of England’s hawkish rhetoric, may be vulnerable to heightened sensitivity to economic data and Brexit uncertainty this week. Sterling rounded off its biggest weekly gain in five months against the dollar, reaching its highest level since just after Britain’s European Union referendum as UK policy makers spurred speculation of an interest-rate increase ...
Read More »American equities pull back from records as oil climbs
Bloomberg Stocks pulled back from the rally that had pushed equities to records as oil jumped on a forecast for rising demand. The S&P 500 Index slipped and the Stoxx Europe 600 headed for the first drop in six days after US and global benchmarks closed at all-time highs a day earlier. Miners led the decline in Europe as the ...
Read More »Stocks adding to records as Treasury yields climb
Bloomberg US stocks added to records and the dollar held gains while Treasuries fell for a second day as the Trump administration plotted strategy for pushing a tax overhaul. The S&P 500 Index edged towards the 2,500 level, lifted by financial stocks as technology shares were little changed before Apple Inc.’s much-anticipated iPhone unveiling later on Tuesday. The Stoxx Europe ...
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