Category: Markets
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REIT performance is picking up but Wells Fargo says remain cautious on Real Estate By Investing.com
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Recent months have seen a strong rally in real estate investment trusts (REITs). From July 1 to August 16, 2024, the S&P 500 Real Estate Index rose 9.9%, outpacing the 1.4% gain in the Standard & Poor’s. Market expectations of a change in the Federal Reserve’s interest rate policy were…
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Dallas Fed trimmed mean PCE price index for July 1.7% versus 1.8% in June
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Average 12-month reduction was 2.7% versus 2.8% previously. Looking at the data, we see some notable changes: Eggs: a massive 90.9% increase (1-month annual change) Window coverings: significant decrease of -27.3% Used Cars: Huge drop of -25.2% Jewelry: Significant decrease of -20.4% Natural Gas: Down -7.7% Physician services: slight decrease…
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David Rosenberg sees a sharp fall in USD/JPY ahead
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David Rosenberg, a semi-permanent expert on global equity markets, has issued a new commentary as he delves into the foreign exchange market with a strong case for selling the USD/JPY pair. “This may be the most obvious price anomaly on the planet,” he said, with the headline “Want to make…
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Billionaire Buffett again sells BofA shares worth about $845 million By Reuters
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(Reuters) – Warren Buffett’s Berkshire Hathaway Inc has further reduced its stake in Bank of America Corp by selling about $845 million in shares, a regulatory filing showed on Friday. The group run by one of the world’s most respected investors has sold more than $6 billion worth of shares…
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US stock markets catch a sizzling late-day bid but Nasdaq ends three-week winning streak
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SPX Daily Chart The last day of stock trading in August was not without its share of action. The S&P 500 opened strongly and then pared its gains to trade in negative territory by midday. However, some steady bids emerged in the afternoon before a massive late-day buying spree. Much…
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US stock markets catch a sizzling late-day bid but Nasdaq ends three-week winning streak
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SPX Daily Chart The last day of stock trading in August was not without its share of action. The S&P 500 opened strongly and then pared its gains to trade in negative territory by midday. However, some steady bids emerged in the afternoon before a massive late-day buying spree. Much…
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Artisan urges Seven&i for takeover bid update by Sept 19 By Reuters
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Written by Rocky Swift and Kevin Buckland TOKYO (Reuters) – U.S. asset manager Artisan Partners has stepped up pressure on its holdings in Japanese companies Seven and Ai, asking its board to provide an update on a takeover bid by Canada’s Alimation Couture by Sept. 19. In a letter dated…
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Artisan urges Seven&i for takeover bid update by Sept 19 By Reuters
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Written by Rocky Swift and Kevin Buckland TOKYO (Reuters) – U.S. asset manager Artisan Partners has stepped up pressure on its holdings in Japanese companies Seven and Ai, asking its board to provide an update on a takeover bid by Canada’s Alimation Couture by Sept. 19. In a letter dated…
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Global Market Weekly Recap: August 26 – 30, 2024
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Major assets were all over the place this week as traders tried to balance a massive load of news and data, and based on the results, it appears they put a little more weight on individual asset catalysts over overall market sentiment drivers. Middle East tensions and Libyan supply concerns…
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China August Manufacturing PMI 49.1 (expected 49.5), Services 50.3 (expected 50.0)
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Official China PMI for August 2024 from the National Bureau of Statistics (NBS) More to come — The Chinese economy has shown, and continues to show, an uneven and unbalanced recovery. Key areas of concern include: Uncertain outlook for debt-ridden real estate sector Consumer confidence and demand decline Excess manufacturing…
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Dollar set for winning week ahead of key inflation release By Investing.com
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Investing.com – The U.S. dollar edged higher on Friday, on track to end a five-week losing streak ahead of key inflation data. At 04:00 ET (09:00 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was up 0.1% at 101.314, after rising to its…
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Dollar set for winning week ahead of key inflation release By Investing.com
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Investing.com – The U.S. dollar edged higher on Friday, on track to end a five-week losing streak ahead of key inflation data. At 04:00 ET (09:00 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was up 0.1% at 101.314, after rising to its…
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Forexlive Americas FX news wrap: US dollar strengthens despite slightly cooler PCE report
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Markets: Gold falls $19 to $2,501 West Texas Intermediate crude oil fell $2.47 to $73.44 a barrel. US 10-year Treasury yields rise 4.3 basis points to 3.81% S&P 500 rises 0.6% The US dollar advances, the yen lags. It was hard to relate fundamentals to market movements today, as is…
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Forexlive Americas FX news wrap: US dollar strengthens despite slightly cooler PCE report
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Markets: Gold falls $19 to $2,501 West Texas Intermediate crude oil fell $2.47 to $73.44 a barrel. US 10-year Treasury yields rise 4.3 basis points to 3.81% S&P 500 rises 0.6% The US dollar advances, the yen lags. It was hard to relate fundamentals to market movements today, as is…
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Goldman to lay off a few hundred employees in annual talent review, source says By Reuters
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Written by Manya Saini (Reuters) – Goldman Sachs plans to cut several hundred jobs as part of an annual review process targeting underperforming companies, a person familiar with the matter told Reuters on Friday. The investment bank has reintroduced performance-related job cuts in 2022 after a two-year pause due to…
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Time has come to buy dollar, BCA says, ahead of Fed rate-cutting cycle By Investing.com
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Investing.com — The U.S. dollar broke a four-week losing streak on Friday, and some believe it’s time to buy the greenback as the fighting spirit is expected to continue. “We had been recommending a range trading for the dollar index between 101 and 108. The dollar index has recently entered…