|Day's Range||8.24 - 8.63|
We saw a sharp rally in US markets yesterday. The S&P 500 (SPY) gained almost 1.0%. European Central Bank President Mario Draghi hinted at more stimulus amid the region’s sagging economic growth. While the move lifted markets, President Trump wasn’t very happy.
Yesterday, the Dow Jones Industrial Average (DIA) settled near the 26,465 level with about 1.4% gains for the day. The index rallied after President Donald Trump said that he would be meeting President Xi Jinping next week on the sidelines of the G-20 Summit in Japan.
The CME Group launched micro e-mini contracts for the S&P 500, Russell 2000, Dow Jones 30 and Nasdaq100 indices at a much lower cost than the existing e-mini futures.
European Central Bank President Mario Draghi turned ultra-dovish in a speech in Portugal on Tuesday. Is this a motivation for Federal Reserve Chairman Jerome Powell and his cohorts to cut interest rates as they meet this week? President Trump on Tuesday blasted Draghi because stimulus in Europe means a lower euro versus the dollar, giving an edge to European companies in their exports to the U.S. On the other hand, the U.S. stock market is encouraged by Trump’s tweet of a “very good” phone call with President Xi of China and the news of an extended meeting with him at the G20.
Could there soon be a recession? "Bond king" Jeffrey Gundlach thinks so. He shared his views regarding the Fed, markets, recession, and strategies to hedge against the slowdown during a DoubleLine investor webcast on June 13.
Semiconductor stocks could fall further toward the end of June if the United States decides to impose tariffs on the additional $300 billion of Chinese imports and China retaliates with export restrictions on rare earth minerals. The semi stocks could also be impacted by a weak second-quarter earnings season that reflects the financial impact of the trade war.
As the world's largest economies get set to meet at the G20 summit, all eyes will be on the U.S and China as the two countries look to settle their trade disputes.
Economist Arthur Laffer is the latest to receive the prestigious Presidential Medal of Freedom from U.S. President Donald Trump. Laffer is best known for his ideas on maximizing tax revenue by adjusting tax rates, ad his ideas were influential in shaping U.S. tax policy in the 1980s. After getting his M.B.A in international economics from Stanford in 1972, Laffer joined the Office of Management and Budget as chief economist.
Fresh stimulus proposals for the ECB, which may begin as soon as next month, when the body reconvenes, are sending U.S. market futures up.
On June 26, OPEC and its allies will meet in Vienna to decide about another production cut extension. With just over a week left before the meeting, there's still confusion about the date.
May’s PMI numbers were not very encouraging. The manufacturing PMI released by IHS Markit came in at 50.5, the lowest since September 2009 when the economy was just trying to come out of the shadows of the global recession. While the reading still indicates expansion, the pace of expansion is the lowest in almost a decade.
The European Central Bank could see rate cuts as a toolkit for new stimulus . On Tuesday, the European stock market recovered from early falls as ECB President Mario Draghi promised more monetary stimulus ...
Draghi's decision to take a dovish approach comes a day before the Fed’s policy decision. Fed Chair Jerome Powell is also expected to take a dovish stance, but a rate cut this month looks quite improbable.
On Saturday, Trump warned of an epic market crash if he is not reelected. He tweeted that the crash will be something “which has not been seen before.” Could it be worse than the Great Recession of 2008 and the Great Depression of 1929? Will it come before the 2020 elections?
Commerce Secretary, Wilbur Ross has downplayed the possibility of a major trade deal being struck between President Donald Trump and Chinese President Xi Jinping at the upcoming G-20 summit in Japan later ...
Over the weekend, India raised tariffs on more than two dozen US goods. The country mooted these tariffs last year after President Donald Trump slapped Section 232 steel and aluminum tariffs on it. However, the move wasn't aimed at India alone—almost all countries were hit with these tariffs.
Commerce Secretary Wilbur Ross sought to tone down expectations from the proposed meeting between US President Donald Trump and Chinese President Xi Jinping at the G20 Summit. Ross said that the G20 is not “where you’re going to negotiate a 2,500-page agreement.”
From the YFi Interactive touch screen, Yahoo Finance's Jared Blikre joins Alexis Christoforous to break down the latest Bank of America Merrill Lynch Global Fund Manager Survey showing a flight into bonds and cash, and the biggest underweight in equities since March, 2009. “FMS investors have not been this bearish since the Global Financial Crisis, with pessimism driven by trade war and recession concerns,” said Michael Hartnett, chief investment strategist.