The Dow Jones Industrial Average recorded a modest gain, closing at a record high on Friday, marking a significant rally for the week following the Federal Reserve’s first major easing of interest rate policy in four years. The 30-stock Dow rose by 38.17 points, or 0.09 per cent, reaching a new closing high of 42,063.36. […]
Dow hits record high as Fed eases interest rates Read More »
A dirty finish for Wall Street on Friday saw a gain for the day for the Dow and a record, but small blobs of red ink for the S&P 500 and Nasdaq as more investors took a long look at the economy and the Fed’s rate cut, pondering whether there was a deeper message there.
Wall Street’s mixed signals: Gains for Dow amid economic concerns Read More »
UK property listings and services company Rightmove has said “no” for a second time to a new non-binding offer from News Corp’s REA Group (ASX:REA). Media reports on Monday stated that Rightmove rejected the sweetened takeover bid from REA, which valued the company at around $11.5 billion. The Financial Times reported that the new offer
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Oil prices rebounded last week, not just because the Federal Reserve cut rates, but also due to a combination of a reduction in supply, a tropical storm along parts of the US Gulf Coast, and the rapid rise in tensions between Israel and Lebanon. Pressure from Gaza persisted, and prices jumped more than 3% over
Oil prices rebound amid Fed rate cuts and geopolitical tensions Read More »
Another record for gold was set on Friday, with no sign of second thoughts about the benefits of the Fed’s significant rate cut among its supporters, unlike in equities, where some hesitation was observed. In just two weeks, gold futures have gained an impressive $US120, with more than half of that increase occurring on Thursday
Gold hits new record amid Fed rate cut Read More »
So, how did the big week for central banks go? Well, China didn’t cut, Japan sat it out, but with a rate rise looming, the Bank of England was steady — leaving the Fed all alone with the most significant rate cut in four years. There will be more focus on the Fed’s decision, with
Fed stands alone: Major rate cut highlights divergence from global banks Read More »
Bad news about the health of the Chinese economy continues to rattle global car companies, especially Germany’s biggest—VW, BMW, and Mercedes. There’s a growing belief that China’s economy is slowing again due to the property crunch, which is now spreading across more sectors of the economy and impacting discretionary spending. Luxury goods companies have been
Chinese economic woes shake global auto industry Read More »
