With second-quarter earnings season underway, Bank of America-Merrill Lynch's Jill Carey Hall has a warning about a market group that has been struggling all year. According to Hall, investors shouldn't expect small cap stocks to break out of an earnings slump. "Consensus is still expecting small caps to remain in an earnings recession," the firm's senior U.S. equity strategist told […]
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Top US bank and prime broker JPMorgan is out with its earnings report for the second quarter. It shows that the company’s markets division is materially affected by the underlying soft patch of volatility. While the base number of revenue in the markets and services division was down only by 1 percent and the markets segment was flat, the figure […]
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One of Wall Street's leading authorities on Asia believes China is in no rush to cut a trade deal with the United States. Despite China's worst quarterly growth number in 27 years, Yale University senior fellow Stephen Roach contends its economy isn't as bad as the latest figure implies. "I was in China last week, and the general sense was […]
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NEW YORK (Reuters) – A gauge of global stocks rose modestly on Monday after economic data from China came in as expected, but equities on Wall Street slipped on weakness in financials in the wake of Citigroup’s earnings report. China’s second-quarter annual GDP growth rate fell to a 27-year low of 6.2%, as expected, while June reports on industrial production, […]
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Nobody likes Mondays, and it’s even worse to wake up to a market downslide. But that’s exactly how the week started for crypto traders, after a weekend of continuous losses. The market fell roughly 12% since Saturday evening, falling to a low of just over $270bn Sunday night: a far cry from the $357bn high point last Wednesday. It’s the […]
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Major indexes surged the new highs last week after U.S. Federal Reserve Chairman Jerome Powell indicated during Congressional testimony that an interest rate cut could be on the horizon from the central bank. The Dow closed above 27,000 for the first time on Thursday and Friday's gain brought its increase on the week to 1.5%. China's economic growth slowed to […]
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LONDON (Reuters) – World shares came within a whisker of posting their first weekly loss since May on Friday and the dollar was down for a third day running, as even a stronger-than-expected U.S. inflation print failed to shake bets on Federal Reserve interest rate cuts. European shares ticked higher in early trade after a run of modest falls this […]
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Stocks climbed on Friday as the growing prospect of a cut to US interest rates this month outweighed renewed tensions in the US-China trade war, an unexpected contraction in Singapore, and uninspiring Chinese trade data. Federal Reserve Chair Jerome Powell told Congress that the central bank is largely in agreement that “more accommodative monetary policy may be appropriate.” However, Trump […]
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NEW YORK (Reuters) – A broad index of stocks around the world rose on Thursday as financial shares helped Wall Street’s benchmark index advance, while oil prices fell on a forecast for weaker demand. The U.S. benchmark S&P 500 stock index notched a record closing high just shy of the 3,000 mark as financial shares were boosted by a jump […]
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