US stocks pared back a rally as investors digested a round of comments from Federal Reserve officials suggesting more monetary tightening was needed to fight inflation even in the wake of turbulence in the banking sector. The S&P 500’s advance withered to 0.3% with financials again under pressure, while the …
Read More »China-driven growth boost emerging assets despite bank worries
When markets in the US and Europe are shaken by banking instability, a stronger Chinese-led growth in emerging markets will likely protect the equities, bonds, and currencies of many developing countries. But, weeks of market volatility brought on by bank collapses, rescues, and emergency government intervention could impact weak emerging …
Read More »US: Real GDP grows at an annual rate of 2.6% in Q4
The US Bureau of Economic Analysis (BEA) released its final estimate on Thursday, revealing that the US real Gross Domestic Product (GDP) increased at an annualised rate of 2.6% in the fourth quarter. This number was below than the 2.7% market forecast as well as the prior estimate. “The revision …
Read More »Market Overview: Wall St poised to join stocks advance
When investors turned their attention to analysing their end-of-quarter positions, Wall Street prepared to follow the rise in global equities, which reached their highest level in three weeks on Thursday. This rise was supported by expectations that the crisis in the banking industry is resolved. Government bonds in the euro …
Read More »Japan’s Nikkei closed lower and technology stocks bucked the trend
The Japanese Nikkei index closed lower on Thursday after gains for three consecutive sessions, with a group of stocks trading without the right to distribute profits, while losses were limited as technology shares followed the path of the rally on Wall Street overnight. The Nikkei index fell 0.36 percent to …
Read More »Japanese Nikkei index closed at its highest level in nearly 3 weeks
The Japanese Nikkei index closed at its highest level in nearly three weeks on Wednesday, as investors increased appetite for shares that are scheduled to be traded this week without the right to distribute profits, and the shares of the highly influential Soft Bank Group jumped in the market, supported …
Read More »Oil achieves gains for the third day on supply concerns
Oil prices rose for a third day in early Asian trade on Wednesday, as the suspension of some exports from Iraqi Kurdistan raised concerns about tight supply, and market sentiment improved as fears of a banking crisis subsided. Brent crude futures rose 42 cents, or 0.5 percent, to $79.07 a …
Read More »Stocks close lower as Wall Street regains stability
While Wall Street regains some stability at the close of what has been a turbulent month, stocks were divided on Tuesday. The S&P 500 fell 6.26 points, or 0.2%, to 3,971.27 even though the vast majority of the index’s companies increased. The Nasdaq composite dropped 52.76, or 0.4%, to 11,716.08 …
Read More »Futures edge lower as yields rise amid easing bank contagion fears
U.S. stock index futures slipped on Tuesday as Treasury yields rose amid easing worries about a banking crisis following First Citizens BancShares’ U.S. regulator-backed deal for failed Silicon Valley Bank. Benchmark 10-year yields rose to 3.545%, weighing on growth stocks such as Apple Inc, Meta Platforms and Alphabet Inc in …
Read More »Japanese stocks closed higher, supported by banking stocks
Japanese stocks ended Tuesday’s trading higher, supported by the rise of bank stocks, following the easing of concerns about the global financial system after a deal in which First Citizens Bankers would acquire the assets of the collapsed US Silicon Valley Bank. The Nikkei index rose 0.15 percent to close …
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