Wall St turns the volume back up September 6, 2009 WALL Street’s mettle will be tested this week as traders return from summer vacations to resurfacing signs of weakness after a six-month rally for stocks. Increased volume last week has investors keen to see what direction the market will take when it opens tomorrow after the long Labor Day holiday weekend. So far, pullbacks have [...]
ber bears go bullish on bonds as deflation threat looms September 6, 2009 DURING the summer months global stock markets have rallied beyond what even die-hard bulls would have thought possible six months ago. Yet this is perhaps not the most surprising trend to have emerged out of the typically quiet August period. Strategists on both sides of the Atlantic have been trying to get their brains around [...]
Banks are back in favour with hedgies and the spread betters September 6, 2009 WHILE many market analysts are decrying the current stock rally as being overblown and fundamentally unjustified, not everybody agrees. Data last week from Thomson Reuters revealed that at least 20 top hedge funds boosted their positions in financial institutions during the second quarter. The group of 30 hedge funds in the analysis increased their exposure [...]
Banks are back in favour with hedgies and the spread betters September 6, 2009 WHILE many market analysts are decrying the current stock rally as being overblown and fundamentally unjustified, not everybody agrees. Data last week from Thomson Reuters revealed that at least 20 top hedge funds boosted their positions in financial institutions during the second quarter. The group of 30 hedge funds in the analysis increased their exposure [...]
Market short on inspiration September 6, 2009 IT’S A relatively quiet week for data, and although US equity markets are closed today for the Labor Day holiday, market activity often picks up after this date which traditionally signifies the end of summer vacations. The Bank of England’s Monetary Policy Committee monthly meeting results are on Thursday, and although no change in interest [...]
London ends lower as all eyes turn to payroll data in the US September 3, 2009 THE FTSE 100 closed lower yesterday, weighed down by energy stocks, though with a rally from miners limited losses ahead of today’s key US non-farm payroll figures. The index closed the session down 20.80 points, or 0.4 percent, at 4,796.75, having traded lower on the first two days of September. But the recent powerful rally, [...]
Strong retail stats boost Wall Street September 3, 2009 US stocks rose yesterday, snapping a four-day losing streak, after stronger-than-expected retail sales data eased concerns about the economy before today’s important jobs data. After sharp falls this week, the broad S&P 500 index finished above 1,000 as retailers’ August sales were joined by a survey showing improvement in the US services sector. Financials and [...]
Heavy-handed FSA ruffling recruiters September 2, 2009 WHEN the chairman of the Financial Services Authority’s chairman, Lord Turner, made comments about taxing bonuses, it was not the first time that the regulator had ruffled feathers in the City. Indeed, recruiters in the Square Mile have been feeling added pressure from the FSA for almost a year now. According to information obtained through [...]
THE LONDON REPORT September 2, 2009 THE benchmark share index closed flat yesterday as a retreat in financials and miners, triggered by weak US data, was offset by stronger energy stocks, after a “giant” oil find by BP. The FTSE 100 index ended down 2.15 points at 4,817.55, after it fell 1.8 per cent on Tuesday. US private employers cut 298,000 [...]
NEW YORK REPORT September 2, 2009 U S stocks fell yesterday as jitters about the economy prompted investors to unload shares for a fourth-straight day, despite a sharp drop in the previous session. Major indexes fluctuated between positive and negative territory throughout the day before closing in the red, with the S&P 500 index posting its worst losing streak since late [...]