|Day's Range||28,258.02 - 28,505.14|
|52 Week Range||24,540.63 - 30,280.12|
President Trump renewed his attack on the Fed this week, complaining that the U.S. dollar is at a disadvantage compared with other major currencies like the euro. Ann Berry, Partner at Cornell Capital, joins Seana Smith on 'The Ticker' to discuss currency outlook amid market uncertainty.
US government bond yields hit their lowest level since 2016 and the dollar extended losses in Asia trading on Thursday after the Federal Reserve took a more dovish stance. , dropping the word “patient” to describe its stance and citing rising “uncertainties” for the economic outlook. for US Treasuries prompted by the Fed carried over for a second day.
US stocks and government bonds climbed on Wednesday after the Federal Reserve adopted a more dovish stance on interest rates, a day after a signal of more potential stimulus from the European Central Bank sparked one of the strongest global rallies of the year. The Fed left rates unchanged following its two-day policy meeting but now forecasts a rate cut in 2020, saying it would monitor incoming data and “act as appropriate to sustain the expansion”. Candice Bangsund, vice-president and portfolio manager at Fiera Capital, said the Fed “placated the doves” by adopting an increasingly cautious stance amid trade tensions and ahead of next week’s planned meeting between President Donald Trump and his Chinese counterpart, Xi Jinping.
“The news on the talks in Osaka is a short term positive for asset markets, but we believe any talks will change little unless either side makes some meaningful concessions, which we do not view as likely at this time,” Pang added. While there is only a 20% chance of a rate cut in June, traders want to hear the Fed is leaning to its first cut in 10 years in July. If this isn’t stated clearly then the markets could weaken.
his Chinese counterpart Xi Jinping at the G20 summit later this month reignited hopes that trade talks could get back on track. Mr Trump said on Twitter on Tuesday that he had a “very good” phone conversation with Mr Xi and that their respective teams would begin talks ahead of the meeting in Osaka. Up until Mr Trump’s comments, the White House had not confirmed whether the two leaders would meet separately from the group setting.
The Dow and S&P 500 on Tuesday finish at their highest levels in about six weeks ahead of a key Federal Reserve decision, as President Donald Trump tweeted that he had a productive conversation with Chinese counterpart Xi Jinping.
Facebook, Beyond Meat and Cisco were early risers Tuesday, as stocks bolted higher and the Dow Jones Industrial Average added to its strong June advance.
Australian shares are moving higher on Tuesday after the Reserve Bank of Australia (RBA) said further easing was likely. However, investors are largely targeting defensive sectors ahead of the two-day Fed meeting.
Hong Kong stocks breathed a little life on Monday. It would likely be one of the top three stock offerings in Hong Kong's history. The city is exhausted after more than a month of protests that have finally forced the postponement of an extremely unpopular proposed law to allow suspects to be sent from Hong Kong to China for trial.
Global markets are mixed as geopolitical tensions mounts, Trump prepares to hike tariffs, and the FOMC meeting comes into sharp focus.
Share markets couldn't add to recent gains and government bond yields inched fractionally higher on Monday, as investors hunkered down for what is shaping up to be a crucial week for global monetary policy. It could also restart the quantitative easing programme it wound down at the end of last year.
Wall Street drifted higher following cautious trade across global markets, as investors kept their sights on a string of central bank meetings coming later this week. Brent crude came off a two-session rally after an attack on two oil tankers near the Straits of Hormuz stoked worries about potential supply disruption.
Asian shares wobbled near one-week lows on Monday as investors turned cautious ahead of a closely-watched Federal Reserve meeting, while political tensions in the Middle East and Hong Kong kept risk appetite in check. MSCI's broadest index of Asia-Pacific shares outside Japan was little changed by early afternoon, after opening slightly weaker.
Ping An Insurance's OneConnect financial technology unit is leaning toward picking New York over Hong Kong for its initial public offering (IPO) in the hope of achieving a higher valuation, three people with direct knowledge of the matter said. Ping An Insurance Group Co of China Ltd, China's biggest insurer by market value, had been planning a Hong Kong IPO of the unit since the beginning of the year in a deal that could raise up to $1 billion. The insurer is now seeking to list OneConnect in New York as early as in September, said one of the people, who were not authorised to speak to media and so declined to be identified.
China’s growth worries haunted global markets today but the tremors were strongest closer to the mainland, in Hong Kong.
Bond king Jeffrey Gundlach has predicted a 40% to 50% chance of a U.S. recession within the next six months and a 65% chance of that happening in the next 12 months, in a webcast to clients late Thursday
Global markets are moving lower with chip stocks and tech in the lead. Weaker than expected data in China weighs on sentiment.
In afternoon trading the index fell 0.7 per cent, adding to Wednesday and Thursday’s declines after the city was rocked by mass political demonstrations against a proposed bill that could see some criminal suspects extradited to mainland China for trial.
Oil rallied on escalating Middle East tensions. The S&P 500 Index reached a five-week high as a surprise increase in U.S. jobless claims supported the idea the Federal Reserve may take a dovish turn. The Stoxx Europe 600 Index had opened in the red following declines across Asia, but reversed course to post a small advance.
The summer months are so far delivering a lot of news for investors, and a lot of stress. Why not head to the beaches? J.P. Morgan’s quant superstar says stick it out, because this too shall pass.
Lululemon Athletica and Tyson were early leaders Thursday as oil prices and earnings lifted stocks, and the stock market rally aimed for a rebound.
Global equities rebound, snapping a two-day losing streak as the June rally resumes its upward trajectory.
Hong Kong’s Hang Seng Index opened lower today and fell sharply in early trade in response to the political situation in the city. As life started getting back to normal in Hong Kong, the bulls returned and the index maintained upward momentum. The Hang Seng closed almost flat at the end of the session.
As police fired tear gas and rubber bullets at charging protesters in the central business district on Wednesday, conversations in the skyscrapers above turned to the potential fallout from an extradition bill that critics warn will erode Hong Kong’s prized judicial independence from China. “People could feel the tear gas and pepper spray on the way home,” said the banker, who like several others quoted in this story asked not to be identified discussing a politically charged subject. For international companies that maintain regional headquarters and employ thousands of workers in Hong Kong, the question is whether rising political risks could ultimately threaten the former British colony’s appeal as a gateway to China.
A trade war between China and the U.S., a slumping yuan, spiking interbank rates and now street protests that spilled across the city’s financial district in a repeat of 2014’s Occupy movement. The last two -- rates and protests -- have combined to snuff out a nascent recovery in the benchmark Hang Seng Index after last month’s 9.4% drubbing. The gauge tumbled as much as 2% on Wednesday after the one-month interbank borrowing cost surged to a decade-high and protesters demanded the city’s government drop a planned bill that would allow extradition to mainland China.