Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
Jan 12 The Turkish lira rebounded on Thursday as dollar weakness helped it move off record lows while emerging stocks rose to two-month highs, led by strong gains in Russia and some Asian bourses. The Turkish lira, which has lost around 8 percent against the dollar since the start of 2017, recovered by 1.2 percent, pulling away from Wednesday's record lows as the dollar fell 0.7 percent against a basket of currencies.
US investment bank Morgan Stanley said it expects Wall Street stocks to fall after Donald Trump's inauguration as president on 20 January after the strong rally since the Republican's election victory. Many analysts predicted doom and gloom in the event of Trump defeating Hillary Clinton, but the reality is that the Dow Jones Industrial average has shot up 9% and looks likely to break the 20,000 mark, while the S&P 500 is also up by around 6%.
In a year with no shortage of surprises and stomach-churning turns in the market, stock investors can feel pretty good about 2016. Wall Street repeatedly bounced back from steep slumps, including the worst start to any year for stocks, the second correction for the market in five months and investor fears of a global slowdown.
The election of Donald Trump as U.S. president and Britain's decision to leave the European Union have raised questions over the future of tariff-free trade and companies' freedom to move production to lower-cost countries. "We want our country back" was the rallying cry of those backing Brexit, a sound bite that had echoes in Trump's "Make America great again."
They've been one of the big winners in the post-election stock market rally, largely due to the belief that they are poised to benefit more than other companies from President-elect Donald Trump's proposed policies. We spoke with Brett Reiner, a managing director and associate portfolio manager at the Neuberger Berman Genesis fund, about this recent run-up.
Firearm stocks have recently misfired amid analyst warnings that sales are likely to slow, but others see gun-related shares reloading next year. Shares of firearm makers have tumbled since Donald Trump's presidential election amid predictions that consumers will slow down weapon purchases with a Republican in the White House.
Teaching future executives in Mexico, and blessed with a Muslim nuclear family, my vote for she who is not Donald Trump was easy. But there is a substantial bright side to the Trump outcome from my perspective.
China stocks continued their fall as the last week of the year kicks off, dragged lower by the property sector amid government efforts to rein in home prices. The Shanghai Composite Index dropped 0.8 percent to 3,085.31 as of 1:03 p.m. local time, heading for its lowest close since October 20. Shanghai Lujiazui Finance & Trade Zone Development Co.
Japanese shares fell as the yen gained against the dollar, while Korean equities fluctuated on a day when many major global markets are closed for a holiday. The Topix index slipped in Tokyo, extending its decline for the year, while Korea's Kospi index swung between gains and losses. Trading volumes were more than 30 percent below the 30-day average. The yen advanced for a fourth day against the dollar and the won strengthened for the first time in nine days.
By Shashwat Pradhan Dec 23 Most Southeast Asian stock markets fell in thin trade on Friday as Wall Street took a breather from its relentless rise since the U.S. presidential election on the back of declines in retail stocks. U.S. equities posted their first back-to-back daily declines of the month in light trading as investors took time out ahead of the Christmas weekend.
Dec 21 Britain's FTSE 100 index is seen opening down 12 points at 7,032 on Wednesday, according to financial bookmakers. * The UK blue chip index closed up 0.4 percent at 7,043.96 points on Tuesday, helped by gains in Carnival and strength in the banking sector as Lloyds rose after a deal to buy a credit card business.
Yuri Khilov, while head of Deutsche Bank AG's Russia equity trading desk, allegedly engaged in "large-scale" market manipulation from 2013 to 2015, using accounts that he opened in his relatives' names, according to the Russian central bank. Khilov is accused of booking trades in the name of Deutsche Bank's London office and then buying and selling stocks for his relatives within minutes, skimming the profit, the Bank of Russia said in a statement Tuesday.
The European Central Bank reckons that financial market uncertainty, as measured by how far stocks, bonds and the euro are from historical norms, is currently close to zero, in contrast with elevated uncertainty during the recessions of 2009 and 2013: The sheer range of known unknowns for 2017 -- the outlook for China's economy, the effect of populism on European politics, the scattergun policy-making of president-elect Donald Trump -- makes a low level of uncertainty unlikely to persist. For each of the major financial asset classes, there are plenty of reasons to expect that price swings will become more violent next year.
So there I said it, and some readers probably just gagged. Big banks have been in the cross-hairs of politicians, regulators and regular folks since the subprime thingie blew up years ago.
The only thing that now supports the soybean futures price above $10, is the expected weather problems in Argentina and Brazil. But, in my opinion, the market's belief in that this will actually happen is beginning to fade.
At the heart of the major market moves since Nov. 8 lies a simple belief: upon taking office, President-elect Donald Trump will reflate the U.S. economy. Despite the magnitude of some of the moves in currencies and bond yields, Bank of America Merrill Lynch Global Head of Rates and Currency Research David Woo doesn't think the markets have adequately adjusted to how the macroeconomic backdrop will shift under the new administration.
The New York Stock Exchange is located in lower Manhattan. On Wednesday, Dec. 7, 2016, the Dow Jones industrial average jumped 297.84 points, or 1.5 percent, while the Standard & Poor's 500 index rose 29.12 points, or 1.3 percent.
Blowout Black Friday sales pushed FBI background checks to a new record, but it may signal slower growth going forward. Image source: Flickr via Francisco Angola.
The New York Times reports that Donald Trump will name Steven Mnuchin, his campaign's national finance director, as Treasury secretary. Mr. Mnuchin, the son of a Goldman Sachs partner, joined the firm after graduating from Yale University.
This morning, the Dow Jones Industrial Average is ticking higher as investors watch oil prices and an update to U.S. economic growth. GDP levels have been frustratingly low over the last eight years.