Risk aversion has been leading most assets amid the war fogs and indecisive peace talks in Eastern Europe. Economic DataEarlier on Thursday, the headline ISM Services PMI reading slid to 56.5 in February from 59.9 in January, below the expected rise to 61.0, according to the latest release by the …
Read More »US Shares Pare Down Intra-day Losses
US equities maintained mixed performance on Thursday and defined more by rotation from growth into value than risk-on or risk-off. The S&P 500 recovered most of an intra-day drop of nearly 1.0%, but remains capped under 4400. US equity market trade has been more defined by rotation from high multiple …
Read More »US: February’s ISM Services PMI Falls Below Expectation
The headline ISM Services PMI figure slid to 56.5 in February from 59.9 in January, below the expected rise to 61.0, according to the latest release by the Institute for Supply Management.Economic activity in the services sector grew in February for the 21st month in a row, with the Services …
Read More »US Shares Rebound On Back of Powell’s Comments
US equities staged a decent rebound on Wednesday, with the S&P 500 breaking above last week’s highs to test 4400. Markets took reassurance from the tone of Fed Chair Powell’s remarks at his testimony before the US Congress.US equities rose on Wednesday as traders digested remarks from Fed Chair Jerome …
Read More »BoE’s Cunliffe: Sanctions To Do Severe Damage to Russia’s economy
Bank of England Deputy Governor for Financial Stability Jon Cunliffe said on Wednesday that sanctions will do severe damage to the Russian economy, but should not pose material risks to financial stability more broadly.Cunliffe said that heightened perceptions of geopolitical risk and its potential impact on growth and inflation can …
Read More »Fed’s Beige Book: Economic Activity Has Expanded Since January
On Wednesday, the Fed’s Beige Book for March 2022 was released citing the word “modest” 52 times, “moderate” mentioned 47 times and “Uncertainty” 11 times. Some traders guess a lot of what happens today and tomorrow will depend on the Fed’s Beige book Key QuotesEconomic activity has expanded at a …
Read More »European Shares Fall For The Third Day as Oil Prices Rise
European shares fell on Wednesday as commodity prices surged, fueling inflation fears when sanctions against Russia after its invasion of Ukraine took a toll on sentiment. The pan-European Stoxx 600 index was down 0.5%, declining for the third consecutive session. The European oil and gas index jumped 1.6 percent, supported …
Read More »Japan Shares Fall on Sentiment Affected by Sanctions on Russia
Japanese stocks fell after a three-session rally to close lower on Wednesday, as growing concerns about the impact of Western sanctions imposed on Russia after its invasion of Ukraine prompted investors to shun risky assets and seek safe-havens. The Nikkei index fell 1.68 percent to close at 26,393.03 points, while …
Read More »US Equities Slide Amid Concerns On Western Sanctions
US equities are sharply lower on Tuesday’s US session as investors express concerns and fret about the global economic impact of the West’s harsh sanctions against Russia.Russians intensified bombardment of Ukrainian cities. Commodity prices, including crude oil, natural gas and wheat, surged on Tuesday, igniting further concerns about longer-lasting inflationary …
Read More »Economic Plans, Sanctions In Focus As Biden Delivers First State of the Union Address
US President Biden will deliver his first State of the Union address Tuesday, within a few hours, as he seeks to contain the impact of the running war in Ukraine, guide the US and its economy through the Covid-19 pandemic, and help buoy Democrats in November’s midterm elections.Biden will juggle …
Read More »