The U.S. stock market indexes gained between 0.7% and 1.0% on Wednesday, extending their recent move up, as investors reacted to economic data releases, among others. The S&P 500 index reached 2,700 mark, as it got closer to its mid-April local high. It is currently 6.1% below January 26 record high of 2,872.87. The Dow Jones…
Overnight Markets And News Jun E-mini S&Ps (ESM18 +0.10%) this morning are up +0.06% at a 3-week high as a rally in crude oil prices to a new 3-1/2 year high bolsters energy stocks. Jun WTI crude oil (CLM18 +0.52%) is up +0.51% at a fresh 3-1/2 year high on heightened Middle East tensions after Israel said…
Goldman Sachs analyst Yaron Kinar upgraded AIG to Buy from Neutral with an unchanged price target of $64. The shares closed yesterday down 26c to $52.82. AIG reaching break-even underwriting in its “much-criticized” General Insurance business will serve as a catalyst for shares in the second half of 2018, Kinar tells investors in a…
The conditions for a hike in May have been met so why wait? That’s what MUFG analyst Lee Hardman asked ahead of the March BoE meeting. Well fast forward to today and we know “why wait?”. The U.K. economy all but flatlined in Q1 (the worst quarter for growth since 2012) and subsequent data have betrayed more…
After witnessing volatile trades during the day, Indian share markets ended their session marginally lower. Losses were largely seen in the realty sector, power sector, and healthcare sector, while energy stocks ended the day higher. At the closing bell, the BSE Sensex stood lower by 73 points (down 0.2%) and the NSE Nifty closed lower by 25 points (down 0.2%). The BSE Mid Cap index ended the day…
The US dollar is consolidating in narrow trading against most of the major currencies as participants digest several developments ahead of what was expected to be the highlight today, the BOE meeting and US April CPI. The greenback’s consolidation is giving it a heavier bias against most of the major currencies. The recently strong upside momentum…
Emerging market currencies have been under fire in recent weeks, and with the impending U.S. sanctions against Iran, U.S. President Donald Trump may have just turned up the heat. Until recently, emerging market currencies had been enjoying a two-year rally. All this started changing in mid-April, when traders began dumping emerging market currencies steadily. According…
A Movie We Have Seen Before – Repatriation Effect? There was a sizable increase in the year-on-year growth rate of the true US money supply TMS-2 between February and March. Note that you would not notice this when looking at the official broad monetary aggregate M2, because the component of TMS-2 responsible for the jump…
US futures are flat, and European stocks are little changed after their longest winning streak since mid-March following a barrage of overnight news, including a dramatic escalation in fighting between Israel and Syria/Iran, a shocking election victory in Malaysia where opposition leader Mahathir Mohamad ended the six-decade rule of Najib Razak’s party sending more shockwaves…
Alstom (ALSMY) said it signed yesterday an agreement with General Electric (GE) relating to the implementation of the agreements from 2015 regarding the intended exit of Alstom from the three energy joint ventures. The “Renewables”, “Grid” and “Nuclear” joint ventures were set up in November 2015 as part of the sale of the Alstom…
