SP500 Futures overnight high. Gains in energy and banks pushed stocks higher. Short-dated Treasury yields rose as the strong U.S. job market data reinforced the view that the Federal Reserve will raise interest rates later this year. The dollar fell on profit booking, while gold advanced. Oil turned higher.
China central bank resumes easing cycle to cushion reform pain China’s central bank resumed its easing cycle, injecting an estimated $100 billion worth of long-term cash into the economy to cushion the pain from job layoffs and bankruptcies in industries plagued by overcapacity. Today: A drop in healthcare and energy shares offsetting a rebound in
Stocks advanced, buoyed by robust U.S. manufacturing data that boosted investors’ confidence. The dollar rose against the safe-haven yen, while Treasury yields fell as investors remained cautious on global growth worries. Oil jumped on confirmation on March producers meeting and spot gold traded higher. Now we are in open territory to push higher if bulls
A sharp rebound in crude prices coupled with Apple’s gain lifted indexes in choppy trading. Sterling plunged to a seven-year low against the dollar on concerns Britons might vote to leave the European Union in a June referendum. Gold rose, acting as counter against risk and Treasuries ended little changed.
Shares climb as firmer Chinese yuan eases deflation fears We have a shortened week this week due to President’s Day but it will be a busy week. We have Option Expiration this week which always makes things volatile. Economic reports will be light this week for the United States except for Wednesday. Wednesday has
The SP500 traded to the 50% retracement on the move up and now is trading right at the 38.2% ConocoPhillips (COP) that it is cutting its dividend. COP is an oil major. A big part of the shareholder base of oil majors is investors seeking safe high dividends. For boards of oil majors, maintaining dividends