MeritKapital News
German business outlook improves
US stocks closed weaker in yet another volatile session as the Fed kicked off its policy meeting. The NASDAQ led the slide, down 2.28% while the S&P shed 1.22%. The DOW could not hold onto earlier gains and closed 0.19% in the red. Yield on 10Y USTs closed about flat at 1.7689%. Business outlook for…
Read MoreUS stocks stage comeback in volatile session
US stocks staged a major comeback on Monday in a tumultuous session that saw indices shed at least 3% at their lows. The NASDAQ, which was at one point 4.9% down, ultimately led gains closing 0.63% firmer. The DOW and the S&P made similar comebacks closing 0.29% and 0.28% up respectively. Yield on 10Y USTs…
Read MoreEurope stocks dip at the start of a turbulent week
US equities finished a shortened week lower with Dow Jones losing 1.3% to 34,265, the S&P 500 declining 1.9% to 4,398 and the Nasdaq finishing 2.7% lower at 13, 769. This was a third-consecutive week of losses in a volatile start of 2022. Early gains succumbed to concerns over the implications of a potentially more…
Read MoreJPMorgan, Citigroup to arrange Kenya eurobond
In the U.S markets the dominant theme which still lingers remains prospective Fed rate hikes and the possible reduction of its holdings in Treasuries starting later in 2022. The withdrawal of outsized stimulus threatens to inject more volatility across a range of assets which have seen global stocks drop more than 3% this year. Rising…
Read MoreGlobal stocks extend selloff as bond yields climb
Stocks extended a global selloff Wednesday in the wake of a surge in Treasury yields, as the prospect of Federal Reserve monetary tightening to fight high inflation weighs on markets. The yield on the 10-year Treasury note rose 9.5 basis points Tuesday to 1.866%, the highest in about two years based on trading levels at 3 p.m. Eastern…
Read MoreMiddle East tensions stoke Brent’s rally
European car sales slid for a sixth month running in December with the 22% slump recorded being the worst on record. Germany led the slump, with new registrations down 26.9% in the month with manuafacturers bemoaning the chip shortage which is only expected to ease H2 2022. The euro was lower, trading sub-1.14 against the…
Read MoreChina cuts ket interest rates first time in two years; ASUS is closed for Martin Luther King Jr day
US equities finished mixed on Friday with Dow Jones falling 0.6% to 25,912, while the S&P 500 Index gained 0.1% to 4663 and the Nasdaq Composite gained 0.6% to 14,894. Financials sector was leading the losers, despite a sharp rise in treasury yields and following mixed results from JPMorgan Chase, Citigroup and Wells Fargo &…
Read MoreOverall tone in Europe is negative despite UK GDP surprise on the upside
US equities finished lower on Thursday with Dow Jones losing 0.5% to 36,114, the S&P dropping 1.4% to 4,659 and Nasdaq down 2.5% to 14,807. Investors sifted through some mixed economic data that showed while producer prices were lower than expected compared to last month, they remained severely elevated versus last year. Jobless claims unexpectedly…
Read MoreUS equities gain as data shows the biggest jump in CPI since 1982
US equities gained yesterday as consumer price inflation the-year-on-year headline figure came in line with expectations but near 40-year record. The Dow Jones Industrial average rose 0.1% to 36,290, the S&P 500 Index increased 0.3% to 4,726 and the Nasdaq gained 0.2% to 15,188. The turbulent start of 2022 has been fostered by the rising…
Read MoreOil prices hold firm on hopes economic growth to support demand
IMF Executive Board has completed its 2021 Article IV Consultation and Fifth Review of the Policy Coordination Instrument for Rwanda and their findings showed the economy has rebounded strongly in 2021, and the recovery is expected to continue in 2022, supported by strengthened vaccination efforts, a pickup in external demand, and accommodative macroeconomic policies. Nevertheless,…
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