Wall Street dips after US law on Hong Kong revives trade worries

November 29, 2019

Wall Street dips after U.S. law on Hong Kong revives trade worries

US stocks dipped on Friday as trade tensions resurfaced after China warned it would retaliate against President Donald Trump’s decision to ratify a bill backing protesters in Hong Kong. China’s counter measures could include barring drafters of the legislation from mainland China, Hong Kong and Macau, the editor of China’s state-backed Global Times tabloid said […]

Wall Street edges lower after conflicting trade signals

November 21, 2019

Wall Street edges lower after conflicting signals on trade

The three major US indexes fell on Thursday after conflicting headlines on US-China trade relations and a row between the world’s top two economies over the Hong Kong protest led to uncertainty over the timing of a deal to end the dispute. All three indexes had opened flat after a report that the United States […]

Equities sustain uptrend with N18bn gain

November 21, 2019

CBN Report: Nigeria Recorded $10.89bn Forex Inflow in October

By Omobayo Azeez Indicators of the Nigerian equities market maintained northward movement at the close of midweek trading session on Wednesday as investors recouped N18 billion gain. The Nigerian Stock Exchange All Share Index (NSEASI) inched up by 0.14 per cent as it gained 43.71 points to close at 6,779.15 basis points, thereby moderating year-to-date […]

US-China trade optimism, earnings power Wall Street to another record high

November 15, 2019

Trade optimism, earnings power Wall Street to another record high

Wall Street’s main indexes hit fresh record highs on Friday, as optimism related to US-China trade talks and solid earnings from semiconductor industry bellwether Applied Materials brightened sentiment. Shares in Applied Materials Inc jumped 9.29% and pushed the Philadelphia Semiconductor index .SOX to an all-time high after the chip gear maker forecast first-quarter results above […]

S&P 500, Dow Jones stable as Cisco losses offset Walmart gains

November 14, 2019

Trade optimism, earnings power Wall Street to another record high

The S&P 500 and the Dow Jones Industrial Average were unchanged on Thursday, but still hovered near record levels as a dour forecast from Cisco offset gains in Walmart after its strong outlook. Cisco Systems Inc fell 7.6% after the network gear maker said current-quarter revenue would drop 3% to 5% amid declining global spending […]

Bond markets seek enlightenment from Trump on trade policy

November 12, 2019

World shares inched higher on Tuesday as investors awaited a speech by President Donald Trump on U.S. trade policy and on news he was likely to delay a decision on European auto tariffs. Bond markets also seemed increasingly confident a recession will be avoided as EU officials said Trump was expected to announce this week […]

Euro gains as dollar weakens on questions about more Fed rate cuts

October 31, 2019

The euro gained on Thursday as the dollar weakened after the Federal Reserve on Wednesday cut interest rates for the third time this year and left open the question of whether it would cut them further. The dollar was falling against most currencies, particularly the Chinese offshore yuan, which rose to an 11-week high. The […]

Europe stocks close lower on new trade deal doubts; Peugeot down 12%

October 31, 2019

European stocks reversed early gains to trade lower Thursday after a report that Chinese officials are doubting the possibility of a long-term trade agreement with the U.S. The pan-European Stoxx 600 was down 0.3% during afternoon trade, with the China-exposed basic resources and automotive sectors each tumbling more than 1%. Oil and gas stocks shed […]

Wall Street moves higher on Brexit deal, robust earnings

October 17, 2019

U.S. stocks rose on Thursday, supported by Netflix and Morgan Stanley following upbeat reports, with investors also cheering Britain’s preliminary last-minute deal with the European Union. British Prime Minister Boris Johnson said “we have a great new Brexit deal,” lifting the mood across global equities, but he still faces a tough vote in parliament on […]