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businessliveme · 4 years

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Trump Raises U.S. Death Toll Forecast to 100,000: Virus Update

(Bloomberg) — President Donald Trump raised the expected death toll in America from the virus to as many as 100,000. He promised a “conclusive” report from the U.S. government on the Chinese origins of the pandemic.

Trump accused China of trying to cover up the outbreak and said tariffs would be “the ultimate punishment.” Gilead Sciences Inc. plans to get its antiviral drug to patients as soon as this week.

In Asia, factory output in several countries slumped to record lows. Australia expects its population growth to halve next year as the virus spurs a collapse in migration. New Zealand reported no new cases for the first time since its March lockdown.

Key Developments

Virus Tracker: global cases pass 3.5 million; deaths top 247,000

January? Autumn? Doctors debate arrival time for a vaccine

China trade deal turns into potential liability for Trump

Mainland Chinese buyers shun Hong Kong property

Italian leader faces revolt against lockdown exit plan

Subscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus.

Hong Kong to Ease Gathering Limit: Cable TV (10:58 a.m. HK)

Hong Kong plans to relax social-distancing measures to allow public gatherings of no more than eight people, broadcaster Cable TV reported, citing unidentified people.

The government may allow cinemas, beauty parlors and gyms to reopen this week, according to the report. Existing measures are set to expire on May 7. Hong Kong hasn’t found a local coronavirus case in 14 days.

New Zealand Records Zero New Cases (10:48 a.m. HK)

New Zealand recorded no new coronavirus cases, raising hopes it can further relax lockdown restrictions.

The Ministry of Health reported zero new infections for the first time since the lockdown began at midnight on March 25. The nation has 1,487 confirmed or probable cases, of which 86% are defined as recovered. There have been 20 deaths.

Asia’s Factories Plunge to Record Lows (9:23 a.m. HK)

Factory output across several Asian countries slumped to record lows in April, signaling a deeper contraction in the world’s manufacturing hub even as China begins restarting some operations.

Purchasing managers indexes across Southeast Asia slumped further below 50, the dividing line between contraction and expansion, to post their weakest readings since the series began, according to data released by IHS Markit on Monday. Taiwan, Japan and South Korea dropped to their lowest levels since 2009.

Trump Says China Made ‘Horrible Mistake’ (9:11 a.m. HK)

President Donald Trump said he has little doubt that China misled the world about the scale and risk of the coronavirus outbreak and then sought to cover it up as the disease became a global pandemic.

“I think they made a very horrible mistake,” Trump said during an interview Sunday night on Fox News. “They tried to cover it.” He alluded to additional information he said will be coming out soon to back up his claims, which China has rejected.

Pence Says ‘Should Have Worn Mask’ (9:03 a.m. HK)

U.S. Vice President Mike Pence said at a Fox News town hall in Washington that “I didn’t think it was necessary, but I should have worn the mask at the Mayo Clinic.”

Pence disregarded policy requiring face masks as he discussed the outbreak with doctors at the Rochester, Minnesota-based hospital April 28.

Australian Meatworks Cases Echo U.S. (9:03 a.m. HK)

An Australian meatworks is at the center of an outbreak, in echoes of the cluster of cases that have occurred at U.S. beef plants.

A total of 19 cases detected Sunday originated at the meatworks, bringing the plant’s total to 34. While the daily growth of new infections in Australia has slowed to less than 1%, there are concerns new clusters could jeopardize the nation’s ability to quickly lift its lockdown.

China’s ‘Ultimate Punishment’ on (8:42 a.m. HK)

President Donald Trump, asked if he will use tariffs to punish China for the coronavirus pandemic, said they would be “the ultimate punishment.”

“Tariffs at a minimum are the greatest negotiating tool,” Trump said at the Fox News town hall. He also said a trade deal with China requires the country to purchase U.S. goods and if they don’t, the U.S. will terminate the agreement.

Trump Says More Help Is Coming (7:46 a.m. HK)

President Donald Trump promised more federal assistance is coming for Americans put out of work by the outbreak and vowed to press ahead with reopening the economy. He said he won’t agree to pass further stimulus measures without a payroll tax cut.

As he addressed the nation in a town hall event hosted by Fox News on Sunday, Trump revised upward the number of Americans he expects to die from the virus. “We’re going to lose anywhere between 75, 80 to 100,000,” he said. He had said at the beginning of April he hoped deaths would total less than 60,000. The number of U.S. dead so far is more than 67,000.

Egypt to Reopen Hotels and Resorts (7:23 a.m. HK)

The venues will open to support domestic tourism, Egypt’s cabinet said in a statement. Hotels will operate at 25% of total capacity until June 1, and 50% by July. The number of residents will be in accordance with guidelines from the World Health Organization, the cabinet said.

Australia Projects Dent in Population Growth (6:30 a.m. HK)

Australia’s population growth will likely halve next year as Covid-19 spurs a collapse in migration. Population Minister Alan Tudge said the decline would hurt the economy.

The Treasury estimates net overseas migration will fall 85% in 2020-2021. The population has been growing about 1.6% a year for the past decade, about 60% due to migration, Tudge said on ABC radio.

Serco in Talks on U.K. Contact Tracing: Times (6:15 a.m. HK)

Outsourcing services provider Serco Group is in advanced talks to conduct contact tracing for the U.K. government, The Times reports, without saying where it obtained the information. At least two companies are being asked to provide about 15,000 call-center staff to handle the bulk of the work, the Times said.

Trump Got Two Briefings in January (5:20 p.m. NY)

The U.S. intelligence community briefed President Donald Trump twice in the eight days before he blocked travel from China to stop the outbreak, a senior White House official said.

In the first briefing, on Jan. 23, Trump was told the virus was poised to spread from China, and getting infected would not be deadly for most people. Five days later, Trump received information showing the virus was spreading but all deaths remained in China, the official said. Trump was told China wasn’t sharing key data, the official said.

Trump has repeatedly pointed to his Jan. 31 decision to restrict travel from China to rebut critics who say he was too slow to react. Read the full story.

Peru Mining Set for Restart (4:15 p.m. NY)

Peru will lift restrictions on mining and other industries this month, the government said in a decree, as the world’s No. 2 copper producer begins to slowly lift lockdown measures.

Mining and metal work, along with tourism, are among industries and services that can restart this month under special safety measures, according to the decree. Measures to contain the pandemic led to an “effective” control of the outbreak, the government said.

U.S. Cases Rise 2.3%, Below One-Week Average (4 p.m. NY)

U.S. cases increased 2.3% from the same time Saturday, to 1.15 million, according to data collected by Johns Hopkins University and Bloomberg News. The gain was below the average daily increase of 2.7% over the past week.

New York reported 3,438 new cases for a total of 316,415, with 280 new deaths — the fewest in more than a month — for a total of 18,890.

New Jersey reported 3,027 new cases, pushing the total to 126,744, while adding 129 deaths, raising the total to 7,871.

Massachusetts reported 1,824 new cases, raising the total to 68,087, and 148 additional deaths, for a total of 4,004.

Illinois had 2,994 new cases, raising the total to 61,499, with 63 additional deaths, bringing the toll to 2,618, Governor J.B. Pritzker said. The state did 19,417 tests, the most so far.

Pennsylvania reported 962 new cases, pushing the total to 49,267, with 26 new deaths, bringing the total to 2,444, the Department of Health said.

Michigan had 547 new cases, a decline from 851 reported a day earlier, raising its total to 43,754, while adding 29 deaths to bring the toll to 4,049, the health department said.

Florida reported 615 new cases, boosting the total to 36,078, with 15 new deaths, raising the toll to 1,379, the health department said.

Louisiana added 200 new cases, bringing its total to 29,340.

Ohio reported 579 new cases, or 14 fewer than reported on Saturday, pushing the total to 19,914. The state reported 1,038 deaths.

California Deaths Rise (3:45 p.m. NY)

California reported 44 new fatalities, a 2% increase from the previous day, with a total deaths of 2,215. The state had 1,419 new cases, a 2.7% rise, to 53,616. The number of people hospitalized or who were in intensive care declined.

Los Angeles County, the epicenter of the outbreak in the state, added 21 new deaths, the lowest in a week, to 1,229. The county had 781 new cases, with a total of 25,662.

France Reports Fewest Deaths in Six Weeks (2:20 p.m. NY)

France reported 135 new deaths in the past 24 hours, the fewest since March 22 — bringing the toll to 24,895 since March 1.

The number of patients in intensive care units is dropping at a slower pace, with 8 fewer patients. French authorities use the number of ICU patients as a key indicator of the outbreak’s impact on its hospital system. The nation has 3,819 patients in ICUs, with a capacity of 5,065 beds at the start of the outbreak.

Seven States in Medical Purchase Group (2:15 p.m. NY)

Seven U.S. states in the Northeast formed a consortium to cut the costs on purchases of personal protection equipment, virus tests, ventilator and other medical gear.

New York, New Jersey, Connecticut, Pennsylvania, Delaware, Rhode Island and Massachusetts said the action will increase market power and prevent price-gouging. “States are stronger when we work together,” New York Governor Andrew Cuomo said in a tweet.

“By working together across the region, we can obtain critical supplies as we begin the process to restart our economies, while also saving money for our taxpayers,” New Jersey Governor Phil Murphy said in a statement.

South Africa Cases Surge After Lockdown Eases (2 p.m. NY)

South Africa recorded it’s biggest increase in infections, with cases increasing 447 to 6,783 while the death toll rose by 8 to 131. The record jump comes just days after the country lifted the restrictive lockdown that started March 26 to slow the spread of the pandemic. One-third of the nation’s workforce will return to work starting Monday.

Gilead to Get Drug Out as Soon as This Week (1:20 p.m. NY)

Gilead Sciences will get its antiviral drug remdesivir to patients as soon as this week, Chief Executive Officer Daniel O’Day said, just days after the U.S. approved emergency use for people with Covid-19.

“We are now firmly focused on getting this medicine to the most urgent patients,” O’Day said on CBS’s “Face the Nation.” “We intend to get that to patients in the early part of this next week, beginning to work with the government, which will determine which cities are most vulnerable and where the patients are that need this medicine.”

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phgq · 4 years

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PH stocks slip, peso remains firm

#PHnews: PH stocks slip, peso remains firm

MANILA – Philippines’ main stocks index fell more than 2 percent Monday mainly due to reports about the continued rise of coronavirus disease 2019 (Covid-19), but the peso was able to move sideways despite the risk-off sentiment.

The Philippine Stock Exchange index (PSEi) shed 2.47 percent, or 182.34 points, to 7,187.44 points, which BPI Research attributed to news about the spread of Covid-19 which “continued to cloud global growth prospects.”

BPI Research also cited the decline of IHS Markit’s Manufacturing PMI last February to 50.8 from month-ago’s 51.9. The consensus forecast for the index is 51.5.

All other indices in the local bourse ended in the red, with the All Shares contracting by 1.87 percent, or 81.34 points, to 4,265.42 points.

Holding Firms posted the highest drop at 2.67 percent, which was trailed by the Financials, 2.60 percent; Property, 2.38 percent; Mining and Oil, 2.18 percent; Industrial, 2.02 percent; and Services, 1.32 percent.

Volume totaled to 1.42 billion shares amounting to PHP4.64 billion.

Decliners led advancers at 147 to 44, while 46 shares were unchanged.

On the other hand, the local currency ended the day at 50.96 from 50.94 Friday last week.

It opened the day weaker at 50.98 compared to its 50.69 close in the previous session.

It traded between 51.08 and 50.94, resulting in an average of 51.014.

Volume totaled to USD1.30 billion, lower than the USD1.37 billion at the end of last week.

The peso is seen to trade between 50.75 and 51.05 against the US dollar on Tuesday. (PNA)

***

References:

* Philippine News Agency. "PH stocks slip, peso remains firm." Philippine News Agency. https://www.pna.gov.ph/articles/1094743 (accessed February 25, 2020 at 04:04AM UTC+14).

* Philippine News Agency. "PH stocks slip, peso remains firm." Archive Today. https://archive.ph/?run=1&url=https://www.pna.gov.ph/articles/1094743 (archived).

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mikemortgage · 5 years

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Canadian and Saudi production cuts are leaving the world hungry for heavy crude

Output cuts in oil-rich Alberta and Saudi Arabia are combining to leave heavy-crude refiners from the Gulf of Mexico to Asia in a bind.

While curtailments in the Canadian province have propelled local prices to their strongest level in almost a decade, other grades like Arab Heavy and Heavy Louisiana Sweet are also surging. The Saudis are expected to largely focus on paring output of heavy crude as they lead efforts to rebalance the global market.

“Historically, when the Saudis have cut output, it’s heavy and medium crude,” said John Auers, executive vice president at energy consultant Turner Mason & Co. in Dallas.

This means the type of oil that accounts for more than 10 per cent of the world’s refinery supplies, already growing scarce with Venezuela’s collapse, will probably be even harder to come by. More than half of the world’s heavy crude is processed in the U.S.

Saudi Arabia reveals reserves that have been shrouded in secrecy for decades — and it’s more oil than the world may ever need

Shrinking Canadian oil discount may start widening again as glut persists

Alberta’s potential new refinery to reduce oil glut may only end up giving it a gasoline glut instead

In Canada, heavy-crude prices have surged since last month when Alberta Premier Rachel Notley mandated a production curtailment of 325,000 barrels a day starting in January to alleviate a pipeline crunch. Western Canadian Select traded at a discount of just US$6.95 to West Texas Intermediate light crude on Friday, the smallest gap in almost a decade and not big enough to cover the cost of rail or most pipeline shipments to the U.S. Gulf Coast. That’s down from as much as US$50 in October.

Meanwhile, OPEC’s top producer Saudi Arabia curtailed its crude outflows by nearly 500,000 barrels day in December and exports are expected to tumble more this month because of an agreement by OPEC and its allies to reduce production by 1.2 million barrels a day after oil prices collapsed late last year.

The Suncor Energy Inc. Millennium mine is seen in this aerial photograph taken above the Athabasca oilsands near Fort McMurray, Alberta.

In Venezuela, another heavy crude producer, exports fell to a 28-year low in 2018 as political strife and economic collapse struck at the country’s most important industry.

“The broad trend we are seeing is that it is a short market for heavy crude,” said Kurt Barrow, vice president of the oil markets, midstream and downstream energy at IHS Markit.

Heavy Louisiana Sweet, which normally trades at a discount to Light Louisiana Sweet, was instead trading at 45 cent premium on Friday, the biggest premium since March. Saudi Arabia set the official selling price for its Arab Heavy grade for February to the U.S. at a 50 cent premium to the Argus Sour Crude Index, the first premium in at least 10 years.

Asian Market

If the Saudis indeed cut mostly medium and heavy crude, the Asian market, which usually buys those grades from the kingdom, will be the hardest hit. That could widen the Dubai-WTI spread and create arbitrage to ship Gulf of Mexico crudes to Asia. The WTI-Dubai spread “tells you whether the U.S. is competing in Asia at the moment,” according to Sandy Fielden, director of research for the commodities group at Morningstar Inc. in Austin.

Refiners along the Gulf Coast and in the Midwest invested billions of dollars in cokers and other heavy-oil processing units over the past three decades anticipating supplies of light oil would become scarce while heavy crude from Canada’s oilsands, Venezuela and Mexico would grow. Instead, the opposite occurred.

The shale revolution, as well as new offshore supplies form Brazil and West Africa, caused a surge of light oil, while supplies from Venezuela to Mexico declined. Canada’s growth has been stymied by delays in getting new pipelines built.

“U.S. Gulf refiners are short of heavy crude right now because of reduced Venezuelan output and the inability to increase Canadian flows because of pipe issues,” Auers said.

Mexico’s Appeal

This means American refiners will probably be turning more to Mexico. The premium of Mexico’s Maya to Canada’s WCS has fallen to about US$10 per barrel, the narrowest since May, from about US$50 three months ago. If you add in the higher cost of shipping crude to Texas by pipeline or rail from Alberta versus a tanker from Mexico, the difference is even smaller.

But the heavy-crude rally could be short-lived as the market starts to prepare for new International Maritime Organization specifications for ocean-going ship fuel that will take effect next year. The rule cuts the sulfur content of ship fuels, making most heavy oil grades less valuable to refiners who will seek to increase production of lower-sulfur diesel and low-sulfur fuel oil.

“Once IMO starts, heavy crudes will be cheaper,” Auers said.

Bloomberg.com

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stockcockpit · 6 years

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Watch how bad SP500 went down yesterday

Watch how bad SP500 went down yesterday

Yesterday October 24th, 2018 was a nightmare for investors investing in US Stocks and Indexes. The SP500 went down more than 3% during 1 trading day and Nasdaq100 went down more than 4,5%. The biggest losers of yesterday were: DXC Technology, Chesapeake Energy, Robert Half, NVIDIA, Alexion, Netflix, AMD and Discovery A that all fell between 9,00% and 16.35%. Below you will find a list with all SP500 Stocks and the loses (and a few winners) Watch how bad SP500 went down yesterday Stockname % Change Volume DXC Technology -16.34% 17.53M Chesapeake Energy -12.11% 43.29M Robert Half -10.34% 4.44M NVIDIA -9.79% 22.11M Alexion -9.76% 7.22M Netflix -9.40% 19.04M AMD -9.17% 134.49M Discovery A -9.03% 6.78M Discovery Communications C -8.91% 3.73M Microchip -8.81% 6.85M Viacom B -8.53% 7.32M Micron -8.40% 53.10M Texas Instruments -8.22% 25.12M AT&T -8.06% 118.85M Newfield Exploration -7.98% 6.26M Laboratory of America -7.89% 2.48M Freeport-McMoran -7.84% 45.77M Illumina -7.74% 2.77M General Dynamics -7.73% 4.89M Regeneron Pharma -7.70% 1.42M Xilinx -7.70% 5.56M Ameriprise Financial -7.35% 2.53M Hilton Worldwide -7.33% 13.47M Autodesk -6.86% 3.69M Cabot Oil&Gas -6.86% 10.55M Royal Caribbean Cruises -6.86% 2.98M Align -6.69% 2.09M Noble Energy -6.68% 7.65M United Rentals -6.49% 3.41M AmerisourceBergen -6.41% 2.79M Vertex -6.36% 2.05M Celgene -6.34% 8.88M Incyte -6.33% 2.54M American Airlines -6.30% 15.35M Norwegian Cruise Line -6.26% 3.02M Unum -6.16% 2.56M CF Industries -6.15% 5.60M United Technologies -6.11% 8.46M Mosaic -6.02% 6.63M Northrop Grumman -6.00% 2.42M Wyndham -5.98% 1.14M Western Digital -5.96% 5.82M Amazon.com -5.91% 6.93M Skyworks -5.85% 2.17M Analog Devices -5.84% 7.79M Marathon Oil -5.80% 18.08M Qorvo Inc -5.70% 1.41M Pioneer Natural Resources -5.66% 2.42M Qualcomm -5.66% 23.38M Marathon Petroleum -5.59% 12.25M Caterpillar -5.58% 15.30M United Parcel Service -5.52% 5.79M Valero Energy -5.42% 6.38M Facebook -5.41% 27.74M MetLife -5.41% 10.61M Lincoln National -5.38% 1.63M DISH Network -5.35% 4.68M Edwards Lifesciences -5.35% 4.35M Microsoft -5.35% 63.90M Raymond James Financial -5.35% 1.63M Illinois Tool Works -5.33% 3.62M Hess -5.32% 4.25M CBS -5.30% 6.43M Adobe -5.29% 4.86M Walt Disney -5.29% 11.63M Fluor -5.27% 1.94M Salesforce.com -5.26% 7.25M Alphabet A -5.18% 2.46M Baker Hughes A -5.16% 3.61M O'Reilly -5.14% 1.16M IDEXX Labs -5.12% 655.13K PayPal Holdings Inc -5.12% 14.75M Gilead -5.11% 8.95M Applied Materials -5.10% 14.46M ConocoPhillips -5.10% 9.26M VeriSign -5.10% 1.58M National Oilwell Varco -5.07% 3.49M Concho Resources -5.06% 1.74M Nucor -5.05% 4.71M Regions Financial -5.04% 29.46M Southwest Airlines -5.03% 6.13M Synopsys -5.01% 1.78M Whirlpool -4.97% 2.22M KLA-Tencor -4.96% 2.31M Amgen -4.94% 4.29M Mylan -4.92% 5.74M Chipotle Mexican Grill -4.90% 840.06K Cummins -4.88% 2.13M General Motors -4.86% 18.78M LKQ -4.85% 4.52M Huntington Bancshares -4.84% 12.30M Lam Research -4.84% 3.91M Raytheon -4.84% 2.96M Alphabet C -4.80% 1.98M United Continental -4.80% 5.22M Principal Financial -4.79% 1.98M Ford Motor -4.77% 58.90M BorgWarner -4.74% 3.12M Devon Energy -4.74% 7.42M KeyCorp -4.73% 14.34M EQT -4.71% 4.28M Intuitive Surgical -4.70% 963.45K Intel -4.67% 33.63M Allergan -4.66% 2.03M FMC -4.66% 1.12M Marriott Int -4.65% 5.16M Symantec -4.62% 7.35M Lennar -4.57% 6.50M Apache -4.55% 3.54M Range Resources -4.55% 10.90M Aptiv -4.52% 3.57M Broadcom -4.51% 3.78M Phillips 66 -4.51% 3.38M McKesson -4.49% 2.44M EOG Resources -4.48% 5.54M Prudential Financial -4.48% 2.72M ANSYS -4.46% 796.21K Biogen Inc -4.46% 2.77M Red Hat -4.46% 2.13M Cognizant -4.44% 3.63M Navient -4.44% 2.75M The Charles Schwab -4.42% 11.44M AIG -4.41% 9.76M MGM -4.38% 11.21M The Goodyear Tire&Rubber -4.35% 3.66M Jacobs Engineering -4.34% 1.40M Carnival -4.33% 5.37M Cimarex Energy -4.31% 1.22M Cardinal Health -4.30% 6.83M Comcast -4.29% 29.97M Emerson -4.29% 5.16M Goldman Sachs -4.29% 4.15M AbbVie -4.28% 8.69M L3 Tech -4.28% 971.05K Eastman Chemical -4.27% 1.84M PACCAR -4.27% 4.41M Eaton -4.24% 4.33M F5 Networks -4.23% 911.89K Textron -4.22% 3.82M Flowserve -4.21% 1.43M FedEx -4.20% 2.17M Booking -4.18% 533.51K 3M -4.16% 5.00M Allstate -4.14% 2.45M NetApp -4.12% 3.91M Seagate -4.12% 4.60M Deere&Company -4.11% 3.73M PerkinElmer -4.11% 827.79K General Electric -4.10% 83.36M Harris -4.09% 1.22M International Paper -4.08% 4.84M Rockwell Automation -4.04% 1.70M T Rowe -4.04% 1.90M Cigna -4.00% 2.88M Fifth Third -3.96% 12.07M Global Payments -3.96% 1.10M Helmerich&Payne -3.96% 1.61M Walgreens Boots -3.96% 9.17M Quest Diagnostics -3.95% 3.26M Signet Jewelers -3.88% 1.50M Ametek -3.87% 2.28M E-TRADE -3.87% 5.28M Fortive -3.85% 2.80M Halliburton -3.85% 15.16M Acuity Brands -3.84% 383.21K Torchmark -3.83% 723.37K LyondellBasell Industries -3.81% 3.71M Best Buy -3.80% 3.97M Packaging America -3.80% 1.40M Arconic Inc -3.78% 3.81M Schlumberger -3.78% 16.96M Tractor Supply -3.78% 2.06M DaVita -3.77% 2.17M WestRock Co -3.77% 2.97M Avery Dennison -3.76% 1.98M Charter Communications -3.72% 1.33M Cadence Design -3.71% 6.65M Johnson Controls -3.71% 4.74M Omnicom -3.70% 4.66M Eli Lilly -3.69% 6.74M Express Scripts -3.69% 5.07M Quanta Services -3.69% 1.07M HP Inc -3.68% 11.42M Pfizer -3.67% 35.04M DuPont -3.66% 19.49M Masco -3.65% 5.18M Allegion PLC -3.64% 1.21M CVS Health Corp -3.64% 6.94M Parker-Hannifin -3.64% 1.92M Delta Air Lines -3.63% 6.76M Marsh McLennan -3.63% 3.57M Nielsen Holdings -3.62% 8.13M Anadarko Petroleum -3.61% 4.60M Cintas -3.61% 908.37K Centene -3.60% 2.56M Bristol-Myers Squibb -3.59% 13.58M Hewlett Packard -3.58% 8.12M Hologic -3.58% 3.10M Intuit -3.56% 1.53M Xylem -3.55% 1.61M Corning -3.53% 12.77M DR Horton -3.53% 7.61M Aflac -3.52% 4.83M Assurant -3.50% 812.54K Sherwin-Williams -3.50% 997.73K Honeywell -3.49% 4.62M State Street -3.49% 3.11M Visa -3.49% 13.85M Synchrony Financial -3.45% 6.66M Apple -3.43% 40.93M Comerica -3.43% 2.22M ONEOK -3.43% 2.23M Stanley Black Decker -3.42% 2.18M Cincinnati Financial -3.41% 807.70K Fastenal -3.41% 3.51M Occidental -3.41% 7.29M ADP -3.36% 2.29M Mettler-Toledo -3.35% 161.39K TE Connectivity -3.35% 2.33M Citizens Financial Group Inc -3.34% 7.26M Mastercard -3.33% 4.42M Zions -3.31% 4.27M Perrigo -3.30% 954.53K TechnipFMC -3.30% 3.88M S&P Global -3.29% 2.20M Ball -3.24% 3.29M Brighthouse Financial -3.23% 2.53M UnitedHealth -3.22% 5.27M Waters -3.21% 1.22M Alliance Data Systems -3.19% 788.36K eBay -3.19% 16.31M H&R Block -3.19% 2.26M Lockheed Martin -3.18% 2.40M Wynn Resorts -3.18% 3.37M Mattel -3.17% 4.04M Anthem -3.16% 1.75M HCA -3.16% 2.08M Stericycle -3.15% 1.09M Accenture -3.14% 2.47M Rockwell Collins -3.13% 1.92M Kinder Morgan -3.11% 20.30M Equifax -3.09% 1.38M People’s United -3.09% 4.10M Bank of America -3.07% 86.39M CenturyLink -3.07% 8.62M Darden Restaurants -3.07% 1.38M Gartner -3.05% 668.88K IBM -3.05% 5.71M Transdigm -3.04% 509.56K Akamai -3.02% 1.42M Paychex -3.01% 3.45M Roper Technologies -2.99% 548.58K Alaska Air -2.98% 2.29M Newell Brands -2.98% 14.47M Cisco -2.97% 29.59M Expeditors Washington -2.95% 1.07M Zoetis Inc -2.95% 2.91M Citigroup -2.94% 23.42M Fortune Brands -2.94% 1.79M Northern Trust -2.93% 1.44M Advance Auto Parts -2.92% 1.42M Loews -2.92% 1.49M Electronic Arts -2.87% 4.85M SunTrust Banks -2.86% 4.45M PNC Financial -2.83% 3.43M PPG Industries -2.83% 2.99M Chevron -2.81% 8.04M Universal Health Services -2.81% 702.28K Exxon Mobil -2.78% 16.09M Fiserv -2.76% 2.45M Michael Kors -2.76% 2.16M KKR & Co -2.71% 0 Ralph Lauren A -2.68% 1.06M Archer-Daniels-Midland -2.67% 5.50M Cerner -2.66% 2.16M Wells Fargo&Co -2.66% 31.16M Albemarle -2.62% 1.54M M&T Bank -2.61% 1.31M Dentsply -2.56% 3.26M Oracle -2.56% 20.03M Agilent Technologies -2.55% 3.48M Expedia -2.55% 2.92M ResMed -2.55% 669.30K Activision Blizzard -2.51% 11.25M Humana -2.48% 437.96K Williams -2.47% 10.67M Mohawk Industries -2.45% 1.52M Progressive -2.45% 3.56M American Express -2.43% 4.06M Republic Services -2.42% 1.82M Hartford -2.41% 3.96M Union Pacific -2.41% 8.01M CH Robinson -2.39% 1.13M Zimmer Biomet -2.39% 1.15M Abbott Labs -2.38% 8.13M Fidelity National Info -2.38% 1.19M Fox Inc -2.38% 5.94M IHS Markit Ltd -2.34% 2.10M Everest -2.32% 269.35K Morgan Stanley -2.31% 15.07M BlackRock -2.28% 1.23M FLIR Systems -2.27% 707.54K Discover -2.24% 2.51M Leggett&Platt -2.24% 1.43M Citrix Systems -2.22% 2.86M Motorola -2.22% 946.11K BB&T -2.21% 6.35M Costco -2.18% 3.10M Willis Towers Watson -2.18% 1.21M Merck&Co -2.16% 14.65M Aon -2.15% 857.53K Hasbro -2.14% 1.86M Dover -2.12% 1.40M JB Hunt -2.12% 826.94K US Bancorp -2.12% 9.43M IPG -2.11% 5.91M Jefferies Financial -2.10% 3.51M Coty Inc -2.08% 5.42M Henry Schein -2.08% 1.10M Air Products -2.06% 1.93M Stryker -2.06% 1.84M Bank of NY Mellon -2.05% 7.34M Berkshire Hathaway B -2.05% 4.71M Cooper -2.05% 195.45K Aetna -2.04% 3.30M Moodys -2.04% 1.01M Twenty-First Century Fox A -2.02% 12.85M IPG Photonics -2.01% 691.87K Newmont Mining -2.01% 6.79M TripAdvisor -1.99% 1.75M Yum! Brands -1.98% 1.95M Patterson -1.96% 2.13M AO Smith -1.92% 2.61M Host Hotels Resorts -1.92% 9.25M CBRE A -1.88% 2.69M Brown Forman -1.87% 1.04M JPMorgan -1.86% 23.17M Ulta Beauty -1.85% 794.68K News Corp A -1.83% 6.92M Travelers -1.81% 2.29M Baxter -1.80% 2.82M Praxair -1.79% 5.61M Verisk -1.78% 684.40K Affiliated Managers -1.77% 1.10M Franklin Resources -1.77% 5.72M Medtronic -1.74% 4.92M Tapestry -1.74% 4.57M Becton Dickinson -1.73% 1.36M Dollar Tree -1.73% 3.85M Garmin Ltd -1.71% 1.28M IFF -1.70% 866.99K Pentair -1.70% 3.14M Kroger -1.69% 7.70M Total System Services -1.69% 3.20M Nike -1.68% 8.33M Danaher -1.65% 3.32M Lowe’s -1.62% 5.72M Under Armour A -1.62% 3.77M News Corp -1.59% 727.29K Kohl’s -1.50% 3.49M Western Union -1.50% 5.48M Kansas City Southern -1.45% 1.45M Kraft Heinz -1.45% 5.83M Nordstrom -1.41% 3.66M Arthur J Gallagher -1.38% 1.09M Chubb -1.38% 3.88M Capital One Financial -1.36% 6.77M CSX -1.36% 7.94M Sealed Air -1.35% 3.41M CarMax -1.32% 2.07M Waste Management -1.31% 2.05M Starbucks -1.28% 12.19M Constellation Brands A -1.26% 2.33M Hormel Foods -1.25% 4.89M Thermo Fisher Scientific -1.24% 4.88M Macerich -1.22% 892.52K Monster Beverage -1.18% 4.42M Under Armour C -1.18% 2.16M PulteGroup -1.16% 13.61M Foot Locker -1.15% 2.63M PVH -1.10% 1.10M Tiffany&Co -1.07% 1.54M J&J -1.05% 8.28M Snap-On -1.01% 967.97K Genuine Parts -1.00% 807.08K Macy’s Inc -0.98% 6.63M Boston Scientific -0.97% 12.60M NRG -0.97% 3.42M Cboe Global -0.92% 1.08M Home Depot -0.87% 6.79M AutoZone -0.83% 333.39K Estee Lauder -0.82% 1.91M Gap -0.80% 4.43M Ross Stores -0.77% 2.67M WW Grainger -0.77% 1.32M ICE -0.71% 3.76M Tyson Foods -0.71% 2.66M Vulcan Materials -0.69% 2.19M Brookfield Property A -0.67% 726.38K VF -0.66% 3.64M TJX -0.64% 3.88M CA -0.62% 8.20M Kimco -0.60% 3.80M SL Green -0.57% 992.20K Target -0.48% 5.10M Scana -0.45% 1.67M Invesco -0.43% 6.76M Hanesbrands -0.42% 5.95M Harley-Davidson -0.34% 4.28M The AES -0.34% 7.72M Walmart -0.25% 10.36M Ecolab -0.22% 1.58M Nasdaq Inc -0.20% 2.34M Pacific Gas&Electric -0.11% 4.43M Martin Marietta Materials -0.02% 2.18M Regency Centers +0.02% 1.02M McDonald’s +0.11% 7.87M CME Group +0.15% 1.81M Mondelez +0.15% 7.63M McCormick&Co +0.18% 1.18M Boston Properties +0.26% 1.07M SBA Communications +0.32% 686.84K Apartment Invest +0.33% 2.52M L Brands +0.34% 3.74M Verizon +0.37% 37.44M Kellogg +0.38% 3.23M Hershey +0.43% 1.80M Vornado +0.45% 1.15M Weyerhaeuser +0.46% 5.94M Dollar General +0.53% 3.74M Crown Castle +0.58% 4.90M Alexandria RE +0.60% 463.32K Federal Realty +0.67% 609.40K Sysco +0.67% 2.74M Iron Mountain +0.69% 2.17M Ingersoll-Rand +0.72% 4.07M Altria +0.74% 6.56M American Tower +0.74% 3.06M General Mills +0.74% 4.00M Simon Property +0.76% 2.47M Church&Dwight +0.77% 1.73M Philip Morris +0.79% 7.65M Coca-Cola +0.80% 21.63M Keurig Dr Pepper +0.80% 3.88M CenterPoint Energy +0.87% 6.19M Campbell Soup +1.00% 3.42M Amphenol +1.03% 4.54M Kimberly-Clark +1.03% 3.43M FirstEnergy +1.23% 4.54M Duke +1.30% 2.30M Equinix +1.30% 359.19K Boeing +1.31% 8.44M JM Smucker +1.32% 1.13M Edison +1.42% 2.57M Extra Space Storage +1.50% 890.69K Sempra Energy +1.50% 1.53M Public Storage +1.56% 1.07M Mid-America Apartment +1.60% 616.12K Alliant Energy +1.70% 1.66M AvalonBay +1.70% 544.90K Dominion Resources +1.76% 3.83M Molson Coors Brewing B +1.78% 2.06M Clorox +1.89% 1.07M American Water Works +1.92% 1.06M ProLogis +1.92% 4.45M Colgate-Palmolive +1.96% 6.24M Ameren +1.99% 1.53M ConAgra Foods +2.03% 13.52M Norfolk Southern +2.05% 4.90M United Dominion +2.06% 1.92M Digital +2.22% 1.61M PPL +2.23% 6.17M Exelon +2.27% 6.20M Realty Income +2.27% 3.08M Ventas +2.42% 3.32M Eversource Energy +2.48% 1.48M WEC Energy +2.50% 2.46M Welltower +2.51% 2.36M Consolidated Edison +2.53% 1.97M HCP +2.56% 3.74M PepsiCo +2.57% 8.22M Procter&Gamble +2.64% 26.70M Equity Residential +2.65% 3.06M Xerox +2.70% 8.00M Entergy +2.72% 2.24M Pinnacle West +2.73% 783.73K Xcel Energy +2.80% 4.47M CMS Energy +2.84% 3.17M Southern +2.88% 7.47M American Electric Power +2.89% 5.07M NextEra Energy +2.91% 2.14M Duke Energy +2.98% 4.89M Essex Property +3.06% 579.90K Public Service Enterprise +3.19% 3.88M NiSource +3.52% 4.19M Juniper +3.92% 11.65M DTE Energy +5.15% 3.43M Varian +7.74% 2.79M Read the full article

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drasifshahid-blog · 7 years

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Stocks advance, dollar struggles ahead of U.S. jobs data

A worker shelters from the rain as he passes the London Stock Exchange in the City of London at lunchtime October 1, 2008

LONDON - Gains for Europe and Asia pushed world shares back towards record highs on Friday, while the dollar lost traction ahead of U.S. payrolls data. Euro zone stocks .STOXXE had been at risk of their second red week in a row but a 0.5 percent rise looked to have dug them out of trouble, following gains in Asia overnight and as futures pointed to a sixth day of rises for Wall Street later. [.N]ESc11YMc1NQc1 Near 6 percent jumps in French media firm Vivendi and Swedish car and truck maker Volvo lifted spirits, as did a rise in euro zone manufacturing data that showed the fastest rise in export orders since February 2011. On-form mining companies .SXPP remained hot as copper, and iron ore [MET/L] headed for their eighth straight week of gains. There was also some relief that the euro's rapid increase seemed to have paused for now and that this year's 13 percent rise versus the dollar and 5 percent on a trade-weighted basis does not appear to have hurt firms just yet. The latest euro zone factory PMI figures showed strong traction across all major economies and at 57.4 matched June’s strongest reading since April 2011. Britain’s factory activity grew a lot more strongly than expected too, suggesting that for all the worries about its ability to strike a beneficial Brexit deal, the economy might be shrugging off its slow first half to the year. “The euro zone’s impressive manufacturing upturn regained momentum in August, with a summer surge in factory activity suggesting rising goods production will support another strong GDP reading in the third quarter,” said Chris Williamson, chief economist at the data’s compiler IHS Markit. The data and comments from Austria's ECB member Ewald Nowotny that the central bank would discuss "carefully" scaling back its 2.3 trillion euro stimulus programme lifted the euro back above $1.19 Nevertheless it struggled to make much headway and despite having also topped $1.20 this week for the first time since the start of 2015, it was set to end it down. Regarding the common currency’s 13 percent rise against the dollar this year, Nowotny said: “I would not over-interpret or dramatise this development”. It left attention firmly on upcoming U.S. nonfarm payrolls data due at 1230 GMT. Economists polled by Reuters expect an increase of 180,000 jobs in August after a 209,000 surge in July. They also forecast average hourly earnings will have gained 0.2 percent after rising 0.3 percent in July. ECONG7 “The wages component of the jobs report will be key,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo. “If earnings are to have picked up along with employment, we will see a straightforward reaction with U.S. stocks and yields rising and the dollar being bought.”

DOLLAR DOLDRUMS

The dollar index against a basket of six major currencies was steady at 92.716. Although on an individual basis the greenback was up against the yen, the index was poised to end the week down 0.1 percent, having also hit a 2-1/2-year low. On Thursday, U.S. consumer spending data for July rose slightly less than expected and annual inflation advanced at its slowest pace in more than 1-1/2 years, diminishing expectations of a U.S. interest rate increase in December. That also fed into bond markets. Yields on U.S. Treasuries, which move in the opposite direction to price, were down for a fourth week in five and German yields DE10YT=TWEB were down for a second straight week, having just seen their biggest monthly drop since February. Global bonds attracted bumper inflows of $8.1 billion, Bank of America Merrill Lynch data showed on Friday.

KOREA PATH

Emerging market stocks were still on the march after their eighth month of gains as China’s yuan hit a 14-month high and metals markets continued to rally. Kenya’s bonds and shilling fell and the country’s stock market was forced to halt trading however, after the country’s Supreme Court unexpectedly declared President Uhuru Kenyatta’s recent election win invalid due to irregularities and ordered a new vote within 60 days. In the red-hot metal sector, industrial bellwether copper CMCU3 was up 0.4 percent at $6,818 a tonne. The LME contract price touched a peak of $6,872 on Thursday, the highest since September 2014. Gold was near a 9-1/2-month high, supported as the dollar steadied and by lingering concerns over tensions in the Korean peninsula. Russian President Vladimir Putin warned on Friday that the standoff between North Korea and the United States was on the verge of large-scale conflict and that it was a mistake to try to pressure Pyongyang over its nuclear missile programme. “It is essential to resolve the region’s problems through direct dialogue involving all sides without advancing any preconditions (for such talks),” Putin wrote on the Kremlin’s website ahead of a trip to China next week. Oil futures fell, partly reversing sharp gains from the previous session, amid turmoil in the oil industry with nearly a quarter of U.S. refining offline. Hurricane Harvey, which brought record flooding to Texas, has shut at least 4.4 million barrels per day of refining capacity, according to company reports and Reuters estimates. “It looks like everyone thinks that the hurricane will affect refining more than production,” said Tony Nunan, oil risk manager at Mitsubishi Corp. “Production will come back faster than refining so it is just going to exacerbate the situation where there’s too much oil.” U.S. crude CLc1 was down 1 percent at $46.76 per barrel. The futures had surged 2.8 percent on Thursday following a steep drop the previous day, during a week in which the hurricane roiled the oil market. Brent crude LCOc1 shed 1 percent too, to $52.35 a barrel.

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volatilitytrading · 7 years

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On-line Exchanges E.g.

Once viewed as volatile, mainland Chinese stocks could join key MSCI index For the fourth straight year, MSCI is set to announce its decision on including mainland Chinese stocks in its benchmark emerging markets index. China is coming closer to meeting MSCI's requirements for inclusion, analysts said. Major U.S. asset managers such as Vanguard have recently expanded in China. MSCI should add mainland Chinese stocks to its benchmark emerging markets index soon, some analysts say, especially as major U.S. asset managers push into China despite obstacles. The stock index giant plans to announce around 4:30 p.m. ET Tuesday whether mainland stocks will become part of the MSCI Emerging Markets Index, which is tracked by an estimated $1.5 trillion in assets . The review is the fourth straight year MSCI has considered adding the mainland-traded stocks, known as A shares in China. Their addition could be a big boost to the world's second-largest stock market, which has until now drawn limited foreign investor interest because of high volatility, frequent trading halts and limited foreign investor access to the Shanghai and Shenzhen stock markets. But U.S. asset managers have been eager to push into the local market. China has the largest weighting in the MSCI Emerging Market Index, at 27.66 percent, although that only includes Hong Kong and U.S.-listed shares of Chinese companies. "Increasingly, individual firms are opting in to, not out of, the China market. Any decision to move on the part of MSCI would now be reactive," Chantal Grinderslev, senior advisor at Shanghai-based investment management consulting firm Z-Ben, told CNBC. MSCI did not immediately return a CNBC request for comment. Sunday, 18 Jun 2017 | 8:01 PM ET | 03:00 Last year, MSCI rejected the A shares because of limitations on how much foreign investors can withdraw and a requirement for pre-approval from Chinese authorities for direct foreign investment in A shares. Those restrictions still exist, but major U.S. asset managers have since expanded in China despite them. "Ultimately, MSCI reflects the views of their clients," said Brendan Ahern, chief investment officer for KraneShares, which runs several U.S.-traded China exchange-traded funds. "I think their end clients want this to happen because they want to do business in China." In January, Fidelity International became the first global asset manager allowed to introduce investment products in China through a wholly owned local subsidiary. "The long-awaited inclusion of A-shares in MSCI China would help institutionalise the domestic China A-share market," Hong Kong-based Fidelity International Portfolio Manager Jing Ning said in a Monday note. Vanguard in May officially opened an office in Shanghai. But four years ago its Emerging Markets Stock Index Fund stopped tracking the MSCI index, and it eventually transitioned to an MSCI indexing rival, the FTSE Emerging Markets All Cap China, which includes A shares. "It is our view that A-shares belong in emerging market benchmarks," Vanguard spokesperson Freddy Martino said in an email. BlackRock, which runs the $31.6 billion benchmark iShares Emerging Markets ETF (EEM) , said in a widely reported statement that it is "supportive of China A-share inclusion in global indices." BlackRock said it might give a statement after the decision is announced on Tuesday. Most analysts hope MSCI will make the move this year Analysts say new requirements MSCI announced since last year's review help the case for inclusion of mainland Chinese stocks. MSCI cut the number of potential A share additions to the index to 169 large-cap stocks from 448. The index giant eliminated stocks not accessible to foreign investors through the Hong Kong stock connect program with the Shanghai and Shenzhen exchanges. MSCI also removed stocks that had been suspended for more than 50 days. "Realistically, can you go a fifth time? Maybe, but I'd be very, very surprised," said Barnaby Nelson, managing director and head of securities services — greater China and north Asia, for Standard Chartered in Hong Kong. "I don't think another year would be helpful. ... There's not that much left to achieve" in meeting MSCI's requirements. "The odds seem to be higher this year," Larry Hu, https://harbourfronttechnologies.blogspot.ca/2017/06/volatility-trading-strategies.html head of greater China economics, said in a late Sunday note. "Then A-shares, the world's second-largest stock market, would account for 0.5% of the MSCI Emerging Market Index." Standard Chartered's Nelson estimates $8 billion in assets under management will flow into the MSCI Emerging Markets Index as a result of initial A share inclusion. Potential weighting of Chinese A shares in the MSCI Emerging Markets Index To be sure, positive asset manager sentiment and China's efforts to open up the mainland markets may still not be enough for MSCI this year. "We think the answer will likely be a 'no'," said Lucy Qiu, emerging markets strategist at UBS Wealth Management. She cited the pre-approval rules as "quite a hassle for many investors." The local stock market also has low expectations. The Shanghai composite is up 1.3 percent year to date, in contrast to gains of more than 17 percent for the EEM and Hong Kong's Hang Seng stock index. The S&P 500 is up nearly 9 percent this year, around all-time highs. "Inclusion would be an important landmark for China's equity market and may spur a short-term rally amid expectations of fresh liquidity entering the onshore market," Ian Hui, a global market strategist at JPMorgan Asset Management, said in a May 19 note that put a greater chance on adding Chinese A shares. "MSCI inclusion will likely improve market sentiment at a time when China's authorities are increasing their regulatory scrutiny." Increased supervision of insurance companies and other tightening measures by Chinese authorities have contributed to the Shanghai stocks' muted performance this year. Heading into MSCI's 2015 decision on A shares, high expectations of inclusion helped drive the Shanghai composite to more than seven-year highs, before the index crashed more than 40 percent that summer. Short interest in the oldest U.S.-traded China A Share ETF, ASHR , climbed to 11 percent of shares outstanding on June 1, the highest since mid-January, according to IHS Markit. — CNBC's Everett Rosenfeld contributed to this report.

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You should also keep at least six the one you bought them for to make a profit. Here, they can buy and sell shares risky prospect if you know what you're doing. You can also find out about a company's financial health by going over their public profiles, looking at their annual fact have a secured investment without worries of loosing your money. S issues affecting the company that you are invested in. The typical items you will need before you can open an account with a broker include proof of identity such as your driver's license, your social you are part owner of that company.

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supertechnologysocialnewslo-blog · 7 years

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Manufacturing slips into contraction in Dec but core sectors grow in Nov

Ahead of Advance Estimates for 2016-17, on which assumptions for the Budget 2017-18 would be based, manufacturing activities showed some signs of weakness due to cash crunch in the wake of demonetisation. While the softness was sharp in the widely-tracked Nikkei Purchasing Managers’ Index (PMI), it was somewhat moderated in the official data for crucial eight core sector industries. Manufacturing activities contracted for the first time in a year, as PMI slipped to 49.6 points in December, down from 52.3 in November. This also marked the biggest month-on-month decline in the index in eight years or since November 2008 when the global economy had slipped into a severe downturn after the Lehman collapse. A reading above 50 shows growth, while one below 50 denotes fall. The last time PMI was below 50 was in December 2015 at 49.1. However, eight core sectors showed a growth of 4.9% in November, the month demonetisation was announced. Even though the growth was lower than 6.6% in the previous month, it showed an expansion and not contraction. Besides manufacturing, the core sector also included some mining segments and electricity generation. The mismatch between PMI and core sector could also be due to the fact that core sector is calculated year-on-year, while PMI is calculated month-on-month. Also, PMI in November showed a growth at 52.3 points even though lower than 54.4 points in October. “The sequential slowdown in core sector growth in November 2016 was modest, with a favourable base effect arising from fewer holidays relative to November 2015, abating the impact of the note ban in sectors such as electricity and coal,” said Aditi Nayar, principal economist, Icra. However, growth of cement and steel output slowed sharply in November 2016 relative to the previous month, a clear indication of the short-term impact of the note ban on domestic demand in cash-intensive sectors such as construction and real estate, Nayar said. While cement production expanded by only 0.5% in November, against 6.2% in the previous month, steel output rose 5.6%, against 16.9%. It should be noted that Advance Estimates for 2016-17, to be released later this week, would have actual data for the first half of the current financial year, which showed a growth of 7.2%. For the next half, Advance Estimates will have the Index of Industrial Production (IIP) for October and only core -sector data for the month of November. Former chief statistician Pronab Sen explained that some data for a few firms in IIP would also be available and it is for the Central Statistics Office to take a call on assessing whether these are representative data or not. He said the methodology is to have actual data and then to make projections on the basis of trend in the previous year’s quarters. This time, however, the impact of demonetisation would be there. So, there could be some overestimation of gross domestic product (GDP) in case this methodology is applied, he added. Gauging industrial production from core sector data is extremely difficult. This is so because core sector constitutes 38% of IIP and the rest of the segments, particularly volatile capital sector, are crucial to know the exact impact on IIP. For instance, core sector was as high as 6.6% in October, but IIP declined 1.9% that month. Nayar said while the favourable base effect and healthy production in the core and other organised sectors may support the growth of IIP in November 2016, the early evidence of the impact of the note ban on several unorganised sectors appears to be negative. However, the base effect also offset the impact of demonetisation India Business News on other organised non-core sectors such as automobiles. Although December PMI saw a mild decline in manufacturing output, the average reading for October-December remained in the ‘growth terrain’, suggesting a positive contribution from the sector to overall GDP in the third quarter of 2016-17, the survey said. Several researchers and economists have lowered their near-term GDP growth forecasts in the wake of the demonetisation move, though there is a broader view that the decision would help the economy grow faster in the long run. In PMI, cash crunch took its toll on new business orders and factory output. “Having held its ground in November, following the unexpected withdrawal of Rs 500 and Rs 1,000 bank notes from circulation, India’s manufacturing industry slid into contraction at the end of 2016,” said Pollyanna De Lima, economist at IHS Markit and the author of the report. Lima added that “cashflow issues among firms also led to reductions in purchasing activity and employment”. Survey participants widely blamed the withdrawal of high-value rupee notes for the downturn, as cash shortage in the economy reportedly resulted in fewer levels of new orders. Businesses also highlighted challenging conditions in external markets, with a fall in new businesses from abroad ending a six-month long growth. The report said the higher prices paid for a range of raw materials made average cost burden increase for the 15th straight month in December, with the rate of inflation picking up since November.

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newstfionline · 7 years

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The economy in 2017? The trend is up, but not for everyone.

By Lonnie Shekhtman, CS Monitor, December 31, 2016

There are good reasons for optimism about the United States economy in 2017: Growth is steady, inflation is low, and more people are working.

Businesses are so eager for workers that 2017 might be the year when wages finally start growing robustly. President-elect Donald Trump is promising steep business tax cuts and fewer regulations.

No wonder the stock market is flirting with 20,000 on the Dow stock index and consumer confidence in November hit its highest level since before the Great Recession. If Mr. Trump can avoid trade wars with other nations, the economy looks set to shine next year, giving the new administration time for its proposed tax cuts and infrastructure stimulus to have an effect in 2018 or 2019.

“There is a lot of momentum building up into next year,” says economist Chris Christopher Jr., director of US and global consumer economics at IHS Markit, a business analytics firm.

Gross domestic product (GDP), which measures the nation’s output of goods and services, will grow a respectable 2.3 percent in 2017, according to IHS Markit. That’s not the great growth that Trump predicted during the presidential campaign, but it does represent a healthy bump from the estimated 1.6 percent rise in 2016.

But a few clouds appear on the economic horizon.

One is the strong US dollar, which is good for consumers when they buy French perfume, but bad for US companies that export goods and services to countries with weakening currencies, such as Japan, China, and members of the European Union.

Another cloud is rising long-term interest rates, which will make it more expensive for businesses and consumers to borrow money, according to David Payne, an economist at Kiplinger, a personal-finance and business-forecasting website.

A third potential problem is a trade war. Last week, CNN reported that the incoming administration was floating the idea of using an executive order to impose tariffs of up to 10 percent on imported goods as a way to encourage manufacturing at home.

Such moves would spark fierce resistance from the business community as well as many in Congress. Worryingly, it could also trigger similar responses from trading partners, putting a further brake on international trade, which is already slowing.

The conundrum facing manufacturing is real. Despite a growing economy, manufacturing and mining industries didn’t see much improvement in employment last year, a sign that economic growth is not spreading equally. “If you’re in a bifurcated economy ... it’s not broadly growing across the board; it’s spotty,” Mr. Christopher says.

Economists expect the unemployment rate to stay low, around 4.5 percent, and the labor market to tighten in 2017, which means wages and salaries should continue to rise. Payne projects that they will grow 3 percent next year. This could entice some people back into the labor market. The nation continues to have an unusually large contingent of Americans who have stopped looking for work, economists say.

While the widespread tax cuts, regulation rollbacks, and infrastructure spending promised by the new administration are expected to add more juice to the economy--though it’s arguable whether the benefits will be widespread--that likely won’t happen until 2018 and 2019, experts expect.

This is because the proposed, massive tax reform--the biggest since Ronald Reagan’s in 1986--and other economic policies will take time for the administration and US Congress to implement.

One tax policy expert, Steven Rosenthal, projects that the cut in the capital-gains tax, which taxes investment income such as stocks, bonds, and real estate, could come as soon as spring 2017. The last three times the maximum capital gains rate was cut (1981, 1997, and 2003), Mr. Rosenthal found, Congress pushed the discount into effect in May or June, in some cases months before a law was enacted.

The reason, he explains, is that Congress worries that Americans will hold onto their assets until the law takes effect, stalling the market.

“Hold your assets to sell after spring,” advises Rosenthal, senior fellow at the Urban Institute, a nonpartisan think tank. Come spring, some people could save 7 percentage points on their capital gains tax, CNBC calculates.

#US economy

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drasifshahid-blog · 7 years

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A worker shelters from the rain as he passes the London Stock Exchange in the City of London at lunchtime October 1, 2008 LONDON - Gains for Europe and Asia pushed world shares back towards record highs on Friday, while the dollar lost traction ahead of U.S. payrolls data.Euro zone stocks .STOXXE had been at risk of their second red week in a row but a 0.5 percent rise looked to have dug them out of trouble, following gains in Asia overnight and as futures pointed to a sixth day of rises for Wall Street later. [.N]ESc11YMc1NQc1Near 6 percent jumps in French media firm Vivendi and Swedish car and truck maker Volvo lifted spirits, as did a rise in euro zone manufacturing data that showed the fastest rise in export orders since February 2011.On-form mining companies .SXPP remained hot as copper, and iron ore [MET/L] headed for their eighth straight week of gains.There was also some relief that the euro's rapid increase seemed to have paused for now and that this year's 13 percent rise versus the dollar and 5 percent on a trade-weighted basis does not appear to have hurt firms just yet.The latest euro zone factory PMI figures showed strong traction across all major economies and at 57.4 matched June’s strongest reading since April 2011.Britain’s factory activity grew a lot more strongly than expected too, suggesting that for all the worries about its ability to strike a beneficial Brexit deal, the economy might be shrugging off its slow first half to the year.“The euro zone’s impressive manufacturing upturn regained momentum in August, with a summer surge in factory activity suggesting rising goods production will support another strong GDP reading in the third quarter,” said Chris Williamson, chief economist at the data’s compiler IHS Markit.The data and comments from Austria's ECB member Ewald Nowotny that the central bank would discuss "carefully" scaling back its 2.3 trillion euro stimulus programme lifted the euro back above $1.19 Nevertheless it struggled to make much headway and despite having also topped $1.20 this week for the first time since the start of 2015, it was set to end it down.Regarding the common currency’s 13 percent rise against the dollar this year, Nowotny said: “I would not over-interpret or dramatise this development”.It left attention firmly on upcoming U.S. nonfarm payrolls data due at 1230 GMT.Economists polled by Reuters expect an increase of 180,000 jobs in August after a 209,000 surge in July. They also forecast average hourly earnings will have gained 0.2 percent after rising 0.3 percent in July. ECONG7“The wages component of the jobs report will be key,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.“If earnings are to have picked up along with employment, we will see a straightforward reaction with U.S. stocks and yields rising and the dollar being bought.” DOLLAR DOLDRUMS The dollar index against a basket of six major currencies was steady at 92.716. Although on an individual basis the greenback was up against the yen, the index was poised to end the week down 0.1 percent, having also hit a 2-1/2-year low.On Thursday, U.S. consumer spending data for July rose slightly less than expected and annual inflation advanced at its slowest pace in more than 1-1/2 years, diminishing expectations of a U.S. interest rate increase in December.That also fed into bond markets. Yields on U.S. Treasuries, which move in the opposite direction to price, were down for a fourth week in five and German yields DE10YT=TWEB were down for a second straight week, having just seen their biggest monthly drop since February.Global bonds attracted bumper inflows of $8.1 billion, Bank of America Merrill Lynch data showed on Friday. KOREA PATH Emerging market stocks were still on the march after their eighth month of gains as China’s yuan hit a 14-month high and metals markets continued to rally.Kenya’s bonds and shilling fell and the country’s stock market was forced to halt trading however, after the country’s Supreme Court unexpectedly declared President Uhuru Kenyatta’s recent election win invalid due to irregularities and ordered a new vote within 60 days.In the red-hot metal sector, industrial bellwether copper CMCU3 was up 0.4 percent at $6,818 a tonne. The LME contract price touched a peak of $6,872 on Thursday, the highest since September 2014.Gold was near a 9-1/2-month high, supported as the dollar steadied and by lingering concerns over tensions in the Korean peninsula.Russian President Vladimir Putin warned on Friday that the standoff between North Korea and the United States was on the verge of large-scale conflict and that it was a mistake to try to pressure Pyongyang over its nuclear missile programme.“It is essential to resolve the region’s problems through direct dialogue involving all sides without advancing any preconditions (for such talks),” Putin wrote on the Kremlin’s website ahead of a trip to China next week.Oil futures fell, partly reversing sharp gains from the previous session, amid turmoil in the oil industry with nearly a quarter of U.S. refining offline.Hurricane Harvey, which brought record flooding to Texas, has shut at least 4.4 million barrels per day of refining capacity, according to company reports and Reuters estimates.“It looks like everyone thinks that the hurricane will affect refining more than production,” said Tony Nunan, oil risk manager at Mitsubishi Corp.“Production will come back faster than refining so it is just going to exacerbate the situation where there’s too much oil.”U.S. crude CLc1 was down 1 percent at $46.76 per barrel. The futures had surged 2.8 percent on Thursday following a steep drop the previous day, during a week in which the hurricane roiled the oil market.Brent crude LCOc1 shed 1 percent too, to $52.35 a barrel.

http://www.muslimglobal.com/2017/09/stocks-advance-dollar-struggles-ahead.html

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drasifshahid-blog · 7 years

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http://www.muslimglobal.com/2017/09/stocks-advance-dollar-struggles-ahead.html

#SEO #Local SEO training

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drasifshahid-blog · 7 years

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Stocks advance, dollar struggles ahead of U.S. jobs data

A worker shelters from the rain as he passes the London Stock Exchange in the City of London at lunchtime October 1, 2008

DOLLAR DOLDRUMS

KOREA PATH

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