Stocks retreat as investors eye Fed’s Jackson Hole meet

Businessam Staff17 hrs

An index of global stock markets slipped on Thursday as investors worried about uncertainty over the outlook for U.S. interest rate cuts even as weak U.S. manufacturing data raised concerns about the health of the world’s largest economy. U.S. manufacturing industries recorded their first month of contraction in almost a decade amid concerns about whether […]

Stocks rally on earnings, trade before Fed minutes

Businessam StaffAugust 21, 2019

U.S. stocks rose on Wednesday as better-than-estimated earnings at retailers bolstered confidence in the world’s largest economy and investors assessed the latest news on trade. Treasuries dropped. Consumer companies led gains in the S&P 500 Index as solid results from Target Corp. and Lowe’s Cos. defied recession fears. President Donald Trump said Wednesday that the […]

Global stocks inch higher as stimulus hopes spur tentative rebound

Businessam StaffAugust 20, 2019

Stock markets edged higher on Tuesday as investors welcomed signs that more monetary and fiscal stimulus was on its way, hoping more easing would help stave off a major global economic downturn. After a tumultuous first half of August when investors dumped equities and poured their money into government debt and other safe havens, some […]

Nigeria’s equities market halts four day bearish run as ASI adds 0.71%

Adesola AfolabiAugust 19, 2019

Investors in Nigeria’s equities resumed trading upbeat in Monday to halt four consecutive days of downward movement. The All Share Index advanced by 0.71%, while the YtD return on the index stood at -13.73 percent. The market likewise witnessed increased activity as the value of stocks traded on the floor of the exchange increased by […]

Wall St. rallies on stimulus cheer, Apple leads tech gains

Businessam StaffAugust 19, 2019

U.S. stocks surged on Monday on growing hopes that major economies would act to stymie the slowing economic effects of escalating global trade tensions, while technology stocks rose led by a nearly 3% gain in Apple’s shares. China’s central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for […]

Stock prices’ free fall widens investment opportunities

Businessam StaffAugust 16, 2019

The Nigerian equity market is offering long-term investors opportunities to invest as most of the stock prices have declined significantly below their opening values. The bear run in the stock market, which has depressed the benchmark Nigerian Stock Exchange (NSE) All-Share Index (ASI) by 13.1 percent so far, has cut the prices of many stocks […]

Wall Street slides on geopolitical, recession fears

Businessam StaffAugust 12, 2019

U.S. stocks dipped in a broad sell-off on Monday as rising geopolitical tensions spooked investors away from equities and the extended U.S.-China trade war stoked fears of impending global recession. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 12, 2019. REUTERS/Eduardo Munoz All three major U.S. […]

Wall Street extends fall as Trump’s comment amplifies trade fears

Businessam StaffAugust 9, 2019

Wall Street’s main indexes added to losses on Friday after President Donald Trump said he was not going to make a deal with China for now, exacerbating fears that the U.S.-China trade stand-off would aggravate the global economic slowdown. Trump’s remark followed a report that said Washington was delaying a decision to allow some trade […]

Bulls resurgence lifts stock market

Businessam StaffAugust 8, 2019

The Nigeria stock market broke the stranglehold of the bears on Thursday and inched up marginally as the All-share index moved up to 27,424.92 from 27,412.36 on Wednesday. Similarly, market capitalisation rose from N13.358 trillion on Wednesday to N13.365 trillion on Thursday. At Thursday’s trading, a total of 31 stocks recorded price gains, while 50 […]