Closing Print

U.S. Stocks Fall as Biotech, Commodity Shares Lead Broad Selloff

U.S. stocks tumbled toward the worst levels of last month’s selloff, with the Standard & Poor’s 500 Index closing at a one-month low, as global equities slid amid a rout in commodity and biotechnology shares. Evidence of industrial weakness in China renewed anxiety about a global slowdown, sending Freeport-McMoRan Inc. tumbling 9.1 percent as copper Read More

442-point Dow rally vanishes

A 442-point surge for the Dow vanished at the end of the trading session Tuesday, the latest sign of how anxious markets have become about the health of the global economy. At the end of yet another wild day of trading, the Dow actually ended with a loss of 205 points as fears continued to Read More

China Slashes U.S. Debt Stake by $180 Billion, Bonds Shrug

To get a sense of how robust demand is for U.S. Treasuries, consider that China has reduced its holdings by about $180 billion and the market barely reacted. Benchmark 10-year yields fell 0.6 percentage point even though the largest foreign holder of U.S. debt pared its stake between March 2014 and May of this year, Read More

Greek Bailout Rests on Asset Sale Plan That’s Already Failed

Greece’s last-ditch bailout requires the country to sell 50 billion euros ($55 billion) of assets, an ambition it hasn’t come close to achieving under previous restructuring plans. The government of then-Prime Minister George Papandreou in 2011 set the same financial goal, which it sought to achieve by hawking airports, seaports, and beachside real estate. Since Read More

Greece Pressured to Bow to Deal at Meeting Touted as Decisive

Greece heads into a decisive round of talks with European finance ministers with little wriggle room to extract concessions from creditors who presented a last-ditch package to free up aid the country desperately needs. Going into the 2 p.m. Saturday meeting in Brussels, the Greek position was that the offer was unacceptable. While German Chancellor Read More

U.S. Durable Goods Orders Preview (MAR)

(Global FX Club) Durable goods orders in the U.S. are expected to rise 0.6 percent in March after falling 1.4 percent in February according to a poll surveyed by economists, with the release expected to cross the wires Friday April 24, 2015 at 12:30 GMT. The release is of importance due to the fact that Read More

Australia’s employment jumps 37,700 jobs in March

Australia just posted a huge jobs report, with 37,700 jobs added for the month of March. It’s a huge beat on expectations of 15,000 new jobs expected by the market. The numbers are strong across the board, with the participation rate rising to 64.8% from 64.7% and hours worked also rising. The Aussie dollar has rallied Read More

Closing Print: U.S. Equities Edge Higher; Initial Jobless Claims Fall to 282K

(Global FX Club) U.S. initial jobless claims through the 4 week moving average tumbled 3,000 to 281,000 in the week ending April 04, 2015. Economists previously forecasted a gain of 285,000 amid the week’s previous reading of 268,000. It is worth noting that this release is also in line with the 200,000 – 250,000 gain Read More

Gold is beating stocks this year; here’s why

Gold (CEC:Commodities Exchange Centre: @GC15K) started the week on a bright note, settling almost 1.5 percent higher on Monday. What’s more impressive is that with Monday’s rally, gold is now up 2.5 percent this year, outpacing the S&P 500 (^GSPC)‘s mild 1 percent gain. The last time gold beat the S&P’s price appreciation in a Read More

Where Wall Street’s most talented traders work

The definition of aptitude on trading desks has changed. As risk-weighted assets are slashed and risk-taking squashed, the most talented traders are no longer the ones who can make the most money. They’re the ones who can make the most money within the new risk parameters. And where do these traders lurk? Not Goldman Sachs. Read More