U.S. Indices Equity markets rebounded after a torrid week when investors questioned whether central banks have the tools to shore up the global economy. Federal Reserve Chair Janet Yellen in a second day of testimony said the Fed was assessing the impact of the swings in the markets on the … More Global Stock’s rout . .
The International Monetary Fund is discussing a bailout of Azerbaijan, hard hit by tumbling oil prices. Venezuela is out to go bust — again — for the same reason. Ecuador looks about to go the same way. More important countries may follow them — most significantly Russia and Saudi Arabia. Neither of them looks solvent … More New sovereign debt-crisis . .
Sticky Supply The industry is splitting into two classes of citizens: those under distress and those that will impress by riding out the downturn and coming out on the other side in a stronger position heading into the next cycle. Gluts of everything from iron ore to copper are the main challenge for the industry. … More Distress, or Impress . . ?!
The Fed chair said the policy-making Federal Open Market Committee continues to see the next move in interest rates as up, rather than down. “I do not expect the FOMC is going to be soon in a situation where it’s necessary to cut rates,” she said.She reiterated the Fed’s intention to raise rates gradually, … More Delaying rate rises, but not abandoned ..
Almost all technology stocks got hammered on Monday. Facebook (FB) lost 4% and Microsoft (MSFT) fell 2%. Twitter (TWTR) lost 5% and was down 36% for the year. Adobe Systems (ADBE) was off 5% on Monday and 20% for the year. The widespread tech crash is all the more surprising because almost everyone thought there was no … More Tech stocks brief . .
European equities rose while Japanese stocks led shares in Asia lower as persistent concern over market volatility helped strengthen the yen. Oil climbed back above $28 a barrel before an update on U.S. stockpiles. The Stoxx Europe Index snapped a seven-day decline while Japan’s Topix index slid to its lowest since October … More Global market’s brief . .
Gold rose for an eighth day, gaining 0.2 percent after trading above $1,200 an ounce on Monday for the first time since June. Prices are extending a rally that’s made the metal the best performing commodity this year. Zinc led most industrial metals higher, rising 0.5 percent for a second day of gains. Aluminum … More Precious metal’s . .
The global stock rout intensified as European index futures indicated shares would add to Monday’s declines and equities in Tokyo slumped by the most since August. The yen reached its strongest since 2014 as Japan’s 10-year yield dropped below zero for the first time and corporate bond risk climbed. – “Investors had … More Extend’s in Japan . . Credit risk climbs
US data with much of Asia in holiday mode, attention focused on the discouraging U.S. employment figures for January released on Friday. U.S. employers added 151,000 jobs last month, a sharp deceleration from recent months as companies shed education, transportation and temporary workers. The employment report lends weight to the case for the Federal Reserve … More Global brief . .
The yellow metal is trading near three-month highs and has been above $1,100 per troy ounce for the last week and a half as global equity markets try to find their footing. Gold is generally thought to move in the opposite direction of the U.S. dollar and interest rates. It was little changed … More All gold everything . . ?!