Bloomberg Cracks in the foundation of the bull market in U.S. stocks are quickly spreading. The Wall Street deal-making machine that powered 2015 to one of the biggest years ever for mergers and acquisitions has slowed, and that means the pop to stock prices that investors could count on from corporate transactions has been reduced. While there are still ...
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Hedge funds choking on momentum stocks take another bite
Bloomberg Hedge funds are piling into the same shares that zapped their returns at the start of the year. They just added momentum stocks for a fifth consecutive quarter, according to an Evercore ISI analysis of 13F filings with the Securities and Exchange Commission. Those shares, loosely defined as the ones that went up the fastest in the past ...
Read More »Top wheat exporter Russia targeting corn as crop rises to record
Bloomberg After overtaking the U.S. as the world’s largest wheat exporter, Russia is becoming a bigger part of the corn market with expectations for a record crop. Russian farmers will boost production to 13.7 million metric tons in the season starting in October, an all-time high, according to Moscow-based consultant SovEcon. While the nation’s corn shipments are still a ...
Read More »Stocks retreat to six-week low as Fed dents metals
BLOOMBERG Global stocks slid to a six-week low and commodities fell as markets braced for the possibility that the Federal Reserve will raise interest rates as soon as next month. A gauge of the dollar’s strength stood at a seven-week high. The MSCI All Country World Index declined for a third day after the minutes of the last Fed ...
Read More »Egyptian stocks drop on missing airliner; Mideast markets slump
Bloomberg Egyptian stocks declined after the nation’s flagship airline said one of its passenger planes went missing on the way back to Cairo from Paris. Most equities dropped across the Middle East as oil retreated. The EGX 30 Index fell 1.8 percent to 7,499.49 at the close. About 538 million Egyptian pounds ($61 million) of shares traded, 21 percent ...
Read More »Dollar rises with US stocks little changed before Fed minutes
BLOOMBERG Financial markets reawakened to the risk of the Federal Reserve expediting interest-rate increases, buoying the dollar while crimping emerging markets and commodities. U.S. stocks were little changed after slumping on Tuesday. The dollar climbed to a seven-week high and Treasuries fell, pushing two-year yields to highest since April, before Wednesday’s release of minutes from the Federal Open Market ...
Read More »Commodity that no one knows about but everybody wants to buy
Bloomberg The world’s mines and steel plants got so devalued during the commodity slump that some were just given away by owners struggling to cut losses or debt. But there’s at least one metal that’s been attracting a lot of attention. Niobium — named for a Greek goddess who became a symbol of the tragic mourning mother — is ...
Read More »US stocks slip, dollar gains as economic data bolsters Fed case
BLOOMBERG U.S. stocks slipped while the dollar advanced with yields on two-year Treasuries after data on inflation and housing signaled the U.S. economy may be strong enough for the Federal Reserve to raise rates this summer. The S&P 500 Index retreated after a Monday rally took it past its average price for the past 50 days. The U.S. currency ...
Read More »Arabica has longest run in decades as Robusta at 9-month high
Bloomberg Robusta coffee climbed to the highest level in almost nine months as a drought in top grower Vietnam threatens next season’s crop. The gains helped extend the arabica variety’s longest winning streak in decades. Dry weather remains fairly widespread in Vietnam, the world’s largest producer of the robusta variety used to make instant coffee. That’s threatening the development ...
Read More »Asian stocks advance as energy producers rally with crude oil and commodities
Bloomberg Asian stocks climbed for a second day as a rally in oil prices drove energy shares from Japan to Taiwan higher. The MSCI Asia Pacific Index added 0.8 percent to 127.33 as of 4:26 p.m. in Hong Kong. The pickup in commodity prices is helping a recovery in global equities, after weaker economic data and disappointing company earnings ...
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