It was another night of gains for US markets, which were propelled higher by positive earnings and economic data. The S&P500 extended its winning streak to six sessions, the longest stretch of gains for the benchmark index since last September. Better-than-expected earnings from companies such as Harley-Davidson and Comcast were a catalyst for the gains.
US markets opened the new week in positive fashion overnight, propelling the S&P500 to its longest stretch of gains since last October. In the commodities complex, oil nudged higher, supported by ongoing tensions in Ukraine, and recent US data signalling a brighter economic outlook for the world’s biggest energy consuming nation. Conversely, palladium took a
There was a collective rally on global markets overnight, as investors reacted positively to the latest developments in the US. Wall Street was in risk on mode from the outset after data showed US industrial production growing more than expected in March. Fed Chair, Janet Yellen, contributed to the positive vibe after she warned continued
It was a wild ride on global markets overnight, with Wall Street continuing its run higher but European equities coming under selling pressure. US markets had careened into negative territory initially amid rumours Russian troops had stormed into Ukrainian territory. The early selling was also fueled by data showing a surprisingly steep slowdown in New
US markets rebounded from their recent selloff overnight, following the latest updates on the economy and corporate earnings. American retail sales in March grew at the fastest pace since September 2012, allaying concerns about the health of the consumer-driven US economy. Also, banking giant, Citigroup, reported better-than-expected earnings. Citi’s numbers eased fears over profitability in
Global markets endured a horrible finish to the week on Friday night, hurt by fears stocks have become too expensive. More losses on the Nasdaq and S&P500 capped the worst week for these indices since mid-2012, as a plunge in tech shares ignited fears valuations have become too stretched. A better-than-expected US consumer confidence read
US markets suffered a violent sell-off overnight, with the Nasdaq nosediving amid a rout in tech stocks. The tech sector copped the full wrath investors, who are concerned valuations in that space have become too stretched. Wall Street was rattled initially by yesterday’s data out of China showing a surprise contraction in exports last month.
Overnight, US markets bounced back from their recent sell-off as investors reacted positively to the latest Fed meeting minutes. Markets suffered a rude shock last month when Fed boss, Janet Yellen, signalled the first US interest rate rise would occur in mid-2015. However the minutes for March’s Fed meeting, indicated officials were in no rush
Following their recent sell-off, US markets steadied overnight, although trading was choppy amid ongoing tensions in Ukraine. The situation in Ukraine weighed on sentiment initially after Russia threatened to renew conflict in the strife-torn nation. However Wall Street recovered from its initial losses as investors braced for the second quarter earnings season, which kicked off
The sell-off on US markets continued last night, with the Nasdaq suffering its steepest three-session drop since 2011. There was a big decline in tech stocks on Friday, and that selling momentum spilled over into the broader market overnight. Amid a lack of economic data, investors refocused their attention on the upcoming US second quarter