Dow advances to record high after inflation report; small caps outperform By Reuters – Investing.com
Written by Johan M. Cherian and Purvi Agarwal (Reuters) – The blue-chip Dow rose to a new intraday high on Friday as a positive inflation report paves the way for the Federal Reserve to continue easing interest rates while focusing on strengthening the labor market. Small-cap stocks outperformed as the market opened. Consumer spending rose […]
Germany turns up heat on UniCredit as Orcel urges talks over Commerzbank By Reuters – Investing.com
Valentina Za and Christian Kramer MILAN/BERLIN (Reuters) – Germany stepped up its opposition on Wednesday to UniCredit's raid on Italy's Commerzbank (ETR:) as the bank's biggest investors called for talks, which have been sought by the bank's Chief Executive Andrea Orsel. Two weeks after UniCredit shocked politicians and investors by buying a large stake in […]
Trafigura names Richard Holtum as new CEO By Reuters – Investing.com
Robert Harvey (Reuters) – International finance company Trafigura said on Tuesday that Richard Holtham will take up the role of chief executive officer from Jan. 1 next year. Jeremy Weir, who has served as CEO for more than 10 years, will step down and become group chairman on the same day. Holtum, who will join […]
Japan top FX diplomat says watching for any build-up of yen carry trades, NHK reports By Reuters – Investing.com
TOKYO (Reuters) – Japan's top foreign exchange official, Mimura Atsushi, said authorities are “constantly keeping a close eye on the market” as a renewed increase in yen carry trades could increase market volatility, NHK reported in an interview on Friday. According to NHK, Mimura said it was highly likely that the yen carry trades that […]
Global shares rise, dollar pinned lower by Fed rate cut bets By Reuters – Investing.com
By Samuel Indyk and Ray Wee LONDON (Reuters) – European shares rose on Tuesday but the U.S. dollar fell as the Federal Reserve was expected to begin an easing cycle and policymakers could potentially cut interest rates sharply. Investors remain focused solely on the Fed's decision on Wednesday, as the likelihood of a 50 basis […]
Nvidia's stock market dominance fuels big swings in the S&P 500 By Reuters – Investing.com
Saqib Iqbal Ahmed NEW YORK (Reuters) – The surge in shares of chip giant Nvidia Corp (NASDAQ:) is still having a major impact on the stock market, fuelling concerns that a change in the chip giant's fortunes could hurt the broader market. Shares of Nvidia, which makes chips considered state-of-the-art for artificial intelligence applications, have […]
Futures inch higher as traders raise bets on bigger Fed rate cut By Reuters – Investing.com
By Shashwat Chauhan and Purvi Agarwal (Reuters) – U.S. stock index futures edged higher on Friday as investors reassessed the chances of a bigger interest rate cut by the Federal Reserve next week, while shares of aircraft maker Boeing (NYSE:) fell after factory workers went on strike. Traders' expectations of a 50 basis point cut […]
Dollar weak as traders add to wagers of big rate cut from Fed By Reuters – Investing.com
Ankur Banerjee SINGAPORE (Reuters) – The dollar weakened and the euro and yen rose on Friday as investors remained nervous ahead of a central bank interest rate cut next week, with focus on the Federal Reserve and the size of the expected cut. The Fed is almost certain to cut interest rates next week, but […]
Oil prices up over 1% on US hurricane impact concerns By Reuters – Investing.com
Arunima Kumar (Reuters) – Oil prices rose about 2 percent on Thursday as they continued to rebound on concerns over the impact of Hurricane Francine on U.S. production, but a gloomy demand outlook capped gains. November futures were up $1.24, or 1.8 percent, at $71.85 a barrel as of 1008 GMT, while October futures were […]
Currencies tread with caution ahead of US inflation test By Reuters – Investing.com
Ankur Banerjee SINGAPORE (Reuters) – The dollar was steady in early trade on Tuesday but the yen edged down from a one-month high as investors braced for U.S. inflation data and reassessed expectations of bigger interest rate cuts by the Federal Reserve starting next week. Friday's labor report did not provide any clear justification for […]