Wall St Index Hit by Negative Sentiment
A sell-off across heavyweight resources shares weighed on Wall Street this afternoon, with negative sentiment exacerbated by the release of worse-than-expected US manufacturing data.
The theme on Wall Street was somewhat similar to that seen across European bourses today, with miners and energy shares leading US indices lower following a sell-off in underlying commodities.
Commodity prices, [...]
Caution in the Commodity Market
Wall Street opened lower today as resources shares tracked a sell-off in underlying commodity prices.
A number of macroeconomic indicators have suggested that the worst is over and an economic recovery is under way. This perception had consequently fuelled a rally in commodity prices, particularly oil, which breached the $72 a barrel level this week, [...]
US Retail Sales Push US Indices Upwards
Wall Street opened in positive territory this afternoon as US retail sales rose for the first time in three months in May and weekly jobless claims slid lower for the third week in a row.
Data released by the Commerce Department earlier today had revealed that retail sales in the US rose 0.5% in May, [...]
Mining Firms Boost FTSE 100
The FTSE 100 continued its ascent this afternoon and was up 80.57 points (+1.83%) to 4481.13 at 2.30pm. The mid-cap FTSE 250, on the other hand, lost some of the ground it had gained this morning, but still managed to stay up 74.85 (+0.97%) at 7766.50.
Mining firms continued to lead the pack on the FTSE [...]
US Markets Start Positively
Wall Street was marginally higher during the first hour of trading today, as the US government gave 10 of the nation’s largest banks approval to pay back a combined $68 billion in TARP funding – an encouraging sign of confidence in the sector.
The Treasury Department did not mention name, but the Wall Street Journal [...]
US Spread Betting Markets Fall on Interest Rate Fear
Wall Street rallied at the start of trading today as rapid deceleration in the number of US job cuts surprised even optimists.
Wall Street fell on speculation that the Federal Reserve may have to raise interest rates this year.
There haven’t been any major macroeconomic releases influencing sentiment today, but rather investors fretting over rising [...]
Wall Street Rallies After Positive US Jobs Data
Wall Street rallied at the start of trading today as rapid deceleration in the number of US job cuts surprised even optimists.
Ironically, a closer look at today’s numbers left investors still feeling apprehensive about the future, encouraging profit-taking.
The Labor Department surprised the market after it unveiled that the American economy shed 345,000 jobs [...]
Goldman Sachs Lifts Crude Oil Target to $75
The release of further upbeat macroeconomic data helped Wall Street open in positive territory this afternoon.
An official report released today revealed that fewer Americans claimed unemployment benefits last week; the number of people claiming first-time benefits (initial jobless claims) fell by 4000 to 621,000 in the week ending May 30, following a revised figure of [...]
British and American Indices Fall
Improving macro economic data and rising consumer confidence figures did little to stem the fall experienced by British and American indices this afternoon.
At home, the services sector showed signs of expansion for the first time in a year last month while in the US, the Challenger job-cut report revealed that US employers announced the lowest [...]
Spread Betting Update - US Indices See More Gains
Wall Street opened lower this afternoon as losses in European bourses and a sharp rally in the previous session enticed investors to take profits.
The slide did not last very long, however, as a surprise surge in pending home sales fuelled another buying frenzy – it will be interesting to see if Friday’s non-farm payrolls [...]