MeritKapital News
Investors eye the Federal Reserve gathering
U.S. equity-index futures advanced ahead of Friday’s key Federal Reserve gathering that may offer clues about the timeline for tapering stimulus. The S&P 500 ended Thursday down 26.19 points, or 0.58%, to 4470.00. The Dow Jones Industrial Average fell 192.38 points, or 0.54%, to 35213.12. The Nasdaq Composite dropped 96.05 points, or 0.64%, to 14945.81.…
Read MoreAsia lower as South Kore begins tightening
Wall Street gained ground again on Wednesday, with chipmakers and financials helping to push the S&P 500 and the Nasdaq to record closing highs ahead of Jackson Hole; the Dow rose 0.11%, while the S&P 500 and the Nasdaq Composite 0.22% and 0.15% respectively. Rising U.S. Treasury yields boosted rate sensitive financials, and sectors that…
Read MoreFitch upgrades Gabon to “B-“ outlook stable
The focus this week on Wall Street remains squarely on its annual economic symposium, traditionally held at Jackson Hole, though this year it will take place virtually due to the spread of COVID-19 in the country. Ears would remain squarely on Chair Jerome Powell’s remarks at the event for any clues regarding the timeline for…
Read MoreGerman GDP outperforms on growth of private consumption
US stocks started the week in the green buoyed by anticipation of more dovish tones from the Fed at Jackson Hole as well as formal approval of the Pfizer-BioNTech vaccine by the FDA. The NASDAQ led gains, up 1.55% while the S&P and the DOW rose 0.85% and 0.61% respectively. Yield on 10Y USTs was…
Read MoreAsia positive even as PMI`s underperform
U.S. stocks were higher after the close on Friday as gains in the Technology, Utilities and Consumer Services pushed indices higher. At the close, the Dow added 0.65%, while the S&P and the NASDAQ Composite gained 0.81% and 1.19% respectively. For the week, the blue-chip Dow fell 1.1% , while the tech-heavy Nasdaq dipped 0.7%.…
Read MoreEquities slide on FED, China worries
Stocks hit turbulence this week after major indexes posted a series of record highs. Investors generally remain upbeat about the outlook for share prices given the rapid pace of earnings growth. But some have become cautious, concerned that rising coronavirus cases will dent the global economic recovery while the Federal Reserve gears up to rein…
Read MoreMarkets fall after Fed July Minutes
All three major indexes fell at close after the Fed July Minutes indicate that the willingness to start reducing asset purchases could start before the end of this year. The Dow closing lower by 1.08% and the S&P 500 followed suit by 1.07%. The Nasdaq composite also traded 0.89 %. lower. The 10 Year US…
Read MoreAs investors mull recovery, focus is on the FOMC minutes
The focus today would be on the FOMC minutes, which we kind of expect would be a touch on the hawkish side of things. Looking at the composition of the FOMC, the doves are in a minority, though Powell remains on the dovish side. The minutes are likely to reflect the views of some hawkish…
Read MoreZambian assets rally as new government elected into office
US stocks closed in the green on Monday shaking off early weakness tied to weak Chinese data and tensions in the Middle East. The DOW and S&P rose 0.31% and 0.26% respectively to mark 5 straight green sessions having reversed early losses. The NASDAQ was however lower at 0.20% with a rally in big tech…
Read MoreRisk off mood after chinese data showed a slowdown
Markets opened in risk off mode this Monday following a raft of Chinese data that showed a sharp slowdown in the retail sales, industrial production, and urban investment. There is also an added uncertainty with a sudden collapse of the Afghan government and Taliban preparing to take full control of Afghanistan. The delta coronavirus variant…
Read More