Dollar index near 19-month high on safe-haven bid amid global growth worries

Weaker-than-expected economic data from China and Europe and fears of a possible U.S. government shutdown spooked investors away from stocks toward the greenback and yen. The dollar index, which gauges its value versus six major peers, was little changed at 97.44, below the 19-month high of 97.71 it hit on Friday. The Federal Reserve is set to raise interest rates by 25 basis points at its two-day meeting that opens Tuesday. However, interest rate futures used to gauge the probability of further


Weaker-than-expected economic data from China and Europe and fears of a possible U.S. government shutdown spooked investors away from stocks toward the greenback and yen. The dollar index, which gauges its value versus six major peers, was little changed at 97.44, below the 19-month high of 97.71 it hit on Friday. The Federal Reserve is set to raise interest rates by 25 basis points at its two-day meeting that opens Tuesday. However, interest rate futures used to gauge the probability of further
Dollar index near 19-month high on safe-haven bid amid global growth worries Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17
Keywords: news, cnbc, companies, global, high, dollar, rate, bid, likely, near, trade, markets, economic, amid, safehaven, rates, index, data, fed, growth, worries, interest


Dollar index near 19-month high on safe-haven bid amid global growth worries

The dollar held near a 19-month high on Monday, bolstered by safe-haven buying as heightened concerns of a global economic slowdown reduced appetites for riskier assets such as stocks and Asian currencies.

Weaker-than-expected economic data from China and Europe and fears of a possible U.S. government shutdown spooked investors away from stocks toward the greenback and yen.

“The dollar is clearly showing it is attractive during times of market stress,” said Ray Attrill, head of currency strategy at NAB in Sydney.

The dollar index, which gauges its value versus six major peers, was little changed at 97.44, below the 19-month high of 97.71 it hit on Friday.

The Australian dollar, whose fortunes are closely tied to China’s economy, was marginally lower at $0.7174. It lost 0.3 percent of its value last week as data showed Chinese November retail sales grew at the weakest pace since 2003 and industrial output rose the least in nearly three years, underlining risks to the economy.

The offshore Chinese yuan was flat at 6.8974.

Apart from fears of a global economic slowdown, markets are also focusing on the likely trajectory of U.S. monetary policy.

The Federal Reserve is set to raise interest rates by 25 basis points at its two-day meeting that opens Tuesday.

The central bank has lifted rates eight times since December 2015 in a bid to restore policy to more normal settings after having slashed borrowing costs to near zero to combat the financial crisis a decade ago.

With the hike largely factored in by the market, larger moves in the dollar will be guided by the Fed’s forward guidance.

According to their projections in September, the median view among the Fed’s policymakers was for three rate hikes in 2019. However, interest rate futures used to gauge the probability of further hikes are pricing in only one hike in 2019.

“Any content that speaks to the difference between market pricing of one interest rate rise in 2019 versus previous Fed indications of three rises is very likely to move markets,” Michael McCarthy, Sydney-based chief markets strategist at CMC Markets, said in a note.

Traders believe that higher U.S. borrowing costs will likely hurt U.S. growth momentum and ultimately force the Fed to pause its monetary tightening path.

Recent comments by Fed officials have also been read as dovish by some analysts. Last month, Fed Chairman Jerome Powell said rates were near the range of policymakers’ estimates of “neutral” – the level at which they neither stimulate nor impede the economy.

“The Fed will most likely move from an auto-pilot mode to being data dependent,” said Attrill.

The dollar gained 0.1 percent over the yen in Asian trade to trade at 113.48. Interest rate differentials between the U.S. and Japan make the dollar a more attractive bet than the yen, according to some analysts.

The Bank of Japan has a meeting on Dec. 19-20, at which policy is expected to remain highly accommodative as inflation remains well below the its target.

The euro was also little changed at $1.1310, having lost 0.6 percent last week after weaker-than-expected data out of France and Germany suggested that economic activity in Europe remains weak.

Sterling remained under pressure in Asian trade, down 0.02 percent at $1.2582. British trade minister Liam Fox said on Sunday talks with the European Union to secure “assurances” for parliament on Prime Minister Theresa May’s Brexit deal will take time, with a decision expected in the new year.


Company: cnbc, Activity: cnbc, Date: 2018-12-17
Keywords: news, cnbc, companies, global, high, dollar, rate, bid, likely, near, trade, markets, economic, amid, safehaven, rates, index, data, fed, growth, worries, interest


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European markets edge higher; banks rally ahead of ECB meeting; Metro tumbles 8%

At a much-anticipated meeting on Thursday, the ECB is poised to bring an end to its crisis-era bond-buying program after nearly four years. European lenders have generally been critical of the central bank’s QE program, arguing it has a negative impact on their net interest income. Deutsche Bank, Unicredit and Intesa Sanpaolo were all trading more than 3 percent higher on the prospect of the ECB ending its contentious stimulus program. It comes after Exane BNP Paribas raised its stock recommenda


At a much-anticipated meeting on Thursday, the ECB is poised to bring an end to its crisis-era bond-buying program after nearly four years. European lenders have generally been critical of the central bank’s QE program, arguing it has a negative impact on their net interest income. Deutsche Bank, Unicredit and Intesa Sanpaolo were all trading more than 3 percent higher on the prospect of the ECB ending its contentious stimulus program. It comes after Exane BNP Paribas raised its stock recommenda
European markets edge higher; banks rally ahead of ECB meeting; Metro tumbles 8% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: sam meredith
Keywords: news, cnbc, companies, rally, end, qe, central, tumbles, higher, edge, banks, shares, index, metro, program, markets, ecb, morning, meeting, european, stock


European markets edge higher; banks rally ahead of ECB meeting; Metro tumbles 8%

Europe’s banking index was the top performer in early morning deals, up more than 1.4 percent with market participants widely expecting the European Central Bank (ECB) to announce the end of quantitative easing (QE) later in the session.

At a much-anticipated meeting on Thursday, the ECB is poised to bring an end to its crisis-era bond-buying program after nearly four years. European lenders have generally been critical of the central bank’s QE program, arguing it has a negative impact on their net interest income. Deutsche Bank, Unicredit and Intesa Sanpaolo were all trading more than 3 percent higher on the prospect of the ECB ending its contentious stimulus program.

Looking at individual stocks, Britain’s Antofagasta surged toward the top of the European benchmark shortly after opening bell. It comes after Exane BNP Paribas raised its stock recommendation to “outperform” Thursday morning, prompting shares of the London-listed stock to rise 3 percent.

Meanwhile, Germany’s Metro slumped to the bottom of the index after the company reported persistently challenging business conditions in Russia. Shares of the wholesale tumbled more than 8 percent on the news.


Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: sam meredith
Keywords: news, cnbc, companies, rally, end, qe, central, tumbles, higher, edge, banks, shares, index, metro, program, markets, ecb, morning, meeting, european, stock


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Asia markets close higher, Greater China shares lead gains

Asian stocks closed higher on Thursday, with shares in Greater China leading gains after the positive momentum seen on Wall Street overnight. Greater China markets initially opened mixed, but staged a comeback to lead the rest of Asia. The Shanghai composite ended the trading session at 1.23 percent higher at 2,634.0491 points, while the Shenzhen composite closed 1.106 percent higher at 1,360.9222 points. In Japan, the Nikkei 225 rose 0.99 percent to close at 21,816.19 points and the Topix index


Asian stocks closed higher on Thursday, with shares in Greater China leading gains after the positive momentum seen on Wall Street overnight. Greater China markets initially opened mixed, but staged a comeback to lead the rest of Asia. The Shanghai composite ended the trading session at 1.23 percent higher at 2,634.0491 points, while the Shenzhen composite closed 1.106 percent higher at 1,360.9222 points. In Japan, the Nikkei 225 rose 0.99 percent to close at 21,816.19 points and the Topix index
Asia markets close higher, Greater China shares lead gains Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: yen nee lee
Keywords: news, cnbc, companies, stocks, lead, gains, ended, higher, china, shares, session, asia, index, markets, greater, points, trading, close


Asia markets close higher, Greater China shares lead gains

Asian stocks closed higher on Thursday, with shares in Greater China leading gains after the positive momentum seen on Wall Street overnight.

“Calm has finally returned to markets,” analysts at Mizuho Bank wrote in a note. Trading in markets globally was volatile at the start of the week, but stabilized after news reports in recent days indicated an easing in tensions between the U.S. and China.

Greater China markets initially opened mixed, but staged a comeback to lead the rest of Asia. The Shanghai composite ended the trading session at 1.23 percent higher at 2,634.0491 points, while the Shenzhen composite closed 1.106 percent higher at 1,360.9222 points. Hong Kong’s Hang Seng Index gained 1.18 percent to end at 26,495.67 points.

In Japan, the Nikkei 225 rose 0.99 percent to close at 21,816.19 points and the Topix index ended 0.62 percent higher at 1,616.65 points. Over in South Korea, the Kospi inched up 0.62 percent to 2,095.55 points at the close.

Australian stocks, meanwhile, saw relatively modest gains. The ASX 200 index ended the session at 5,661.6 points — up 0.14 percent.

There were big moves in the Australia market. Shares of Hutchison Telecommunications plunged 21.43 percent at the close, while TPG Telecom fell by 16.67 percent. The two companies announced plans to merge in August this year, but the Australian Competition and Consumer Commission on Thursday released a statement expressing concerns about the proposal.


Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: yen nee lee
Keywords: news, cnbc, companies, stocks, lead, gains, ended, higher, china, shares, session, asia, index, markets, greater, points, trading, close


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Asian stocks take a breather after days of declines

The hard-hit mainland Chinese markets ended the trading day mostly unchanged, with both the Shanghai composite and the Shenzhen composite largely flat at around 2,605.89 and about 1,350.70, respectively. Shares of Softbank, which saw significant declines in the previous trading day, extended losses as it fell 2.09 percent on the day. The ASX 200 in Australia rose 0.42 percent to close at 5,681.50, with almost sectors in positive territory. That was a rebound from Thursday, when the index saw dec


The hard-hit mainland Chinese markets ended the trading day mostly unchanged, with both the Shanghai composite and the Shenzhen composite largely flat at around 2,605.89 and about 1,350.70, respectively. Shares of Softbank, which saw significant declines in the previous trading day, extended losses as it fell 2.09 percent on the day. The ASX 200 in Australia rose 0.42 percent to close at 5,681.50, with almost sectors in positive territory. That was a rebound from Thursday, when the index saw dec
Asian stocks take a breather after days of declines Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: eustance huang
Keywords: news, cnbc, companies, breather, day, days, stocks, australia, asian, declines, gained, shares, saw, index, close, rose, trading


Asian stocks take a breather after days of declines

Shares in Asia were mostly higher on Friday on the back of a report suggesting the U.S. Federal Reserve could consider a slower tempo of increasing interest rates than had been previously expected.

The hard-hit mainland Chinese markets ended the trading day mostly unchanged, with both the Shanghai composite and the Shenzhen composite largely flat at around 2,605.89 and about 1,350.70, respectively.

Meanwhile, the Hang Seng index in Hong Kong traded down by around 0.1 percent as of its final hour of trade.

Japan’s Nikkei 225 rose 0.82 percent to close at 21,678.68 while the Topix index gained 0.61 percent to finish the trading week at 1,620.45.

Shares of Softbank, which saw significant declines in the previous trading day, extended losses as it fell 2.09 percent on the day. The company had earlier announced that there was no change in its earnings and dividend forecasts after a mobile service outage on Thursday.

Over in South Korea, the Kospi gained 0.34 percent to close at 2,075.76, with shares of chipmaker SK Hynix rising 1.21 percent.

The ASX 200 in Australia rose 0.42 percent to close at 5,681.50, with almost sectors in positive territory. That was a rebound from Thursday, when the index saw declines amid a broader sell-off across the Asia Pacific region.

Shares of Australia’s so-called Big Four banks saw gains on the day. Australia and New Zealand Banking Group rose 0.16 percent, Commonwealth Bank of Australia gained 1.00 percent while Westpac advanced 0.23 percent and National Australia Bank climbed up by 0.25 percent.


Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: eustance huang
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Asian stocks stumble, following Wall Street plunge

Stocks in Asia traded down Wednesday morning after an overnight plunge on Wall Street as investors worried about a potential economic slowdown and the state of the U.S.-China trade war. The mainland Chinese markets, closely watched in relation to Beijing’s ongoing dispute with Washington, remained cautious by the end of the morning session. The Caixin Services Purchasing Managers’ Index, which measures economic activity in China’s services sector, rose to 53.8 in November — its highest in five m


Stocks in Asia traded down Wednesday morning after an overnight plunge on Wall Street as investors worried about a potential economic slowdown and the state of the U.S.-China trade war. The mainland Chinese markets, closely watched in relation to Beijing’s ongoing dispute with Washington, remained cautious by the end of the morning session. The Caixin Services Purchasing Managers’ Index, which measures economic activity in China’s services sector, rose to 53.8 in November — its highest in five m
Asian stocks stumble, following Wall Street plunge Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: eustance huang
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Asian stocks stumble, following Wall Street plunge

Stocks in Asia traded down Wednesday morning after an overnight plunge on Wall Street as investors worried about a potential economic slowdown and the state of the U.S.-China trade war.

The mainland Chinese markets, closely watched in relation to Beijing’s ongoing dispute with Washington, remained cautious by the end of the morning session. The Shanghai composite declined 0.21 percent while the Shenzhen composite was largely flat.

The Caixin Services Purchasing Managers’ Index, which measures economic activity in China’s services sector, rose to 53.8 in November — its highest in five months — as compared to 50.8 in October.

Earlier in the day, China’s Ministry of Commerce said in a statement on its website that the weekend meeting between Trump and Chinese President Xi Jinping was successful. The ministry also said the two countries will push ahead with negotiations within 90 days, and Beijing will work to address issues agreed upon as quickly as possible.

Meanwhile, the Hang Seng index in Hong Kong also fell by 1.54 percent. Shares of vehicle maker Baic Motor dropped 9.29 percent following a Bloomberg report that Germany’s Daimler is considering increasing its stake in its joint venture with the Chinese firm.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: eustance huang
Keywords: news, cnbc, companies, chinese, xi, composite, asian, ministry, morning, stocks, stumble, index, economic, chinas, wall, worried, street, plunge, services, following


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US futures point to slight recovery after Tuesday’s market rout

S&P 500 and Nasdaq 100 futures also pointed to slight gains. In after-hours trading, the SPDR S&P 500 ETF Trust (SPY) rose about 0.28 percent. The Dow Jones Industrial Average plunged 799.36 points earlier on Tuesday, while the S&P 500 dropped more than 3 percent. The CBOE Volatility Index, popularly known as the VIX, leaped about 26.16 percent to 20.74. The VIX measures implied volatility on S&P 500 index options.


S&P 500 and Nasdaq 100 futures also pointed to slight gains. In after-hours trading, the SPDR S&P 500 ETF Trust (SPY) rose about 0.28 percent. The Dow Jones Industrial Average plunged 799.36 points earlier on Tuesday, while the S&P 500 dropped more than 3 percent. The CBOE Volatility Index, popularly known as the VIX, leaped about 26.16 percent to 20.74. The VIX measures implied volatility on S&P 500 index options.
US futures point to slight recovery after Tuesday’s market rout Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: eustance huang
Keywords: news, cnbc, companies, tuesdays, point, sp, points, futures, 500, president, index, volatility, market, yield, nasdaq, rout, recovery, weekend, slight


US futures point to slight recovery after Tuesday's market rout

U.S. stock futures on Tuesday evening stateside pointed to a slight rebound from the steep losses seen in regular trading.

Dow Jones Industrial Average futures climbed 43 points, indicating a gain of 46.93 points at Thursday’s open as at 10:44 p.m. ET. S&P 500 and Nasdaq 100 futures also pointed to slight gains. The U.S. stock market will be closed on Wednesday out of respect for former President George H.W. Bush’s funeral.

In after-hours trading, the SPDR S&P 500 ETF Trust (SPY) rose about 0.28 percent. Meanwhile, the Invesco QQQ Trust — which tracks the Nasdaq 100 index — gained around 0.37 percent.

The Dow Jones Industrial Average plunged 799.36 points earlier on Tuesday, while the S&P 500 dropped more than 3 percent. The Nasdaq Composite, meanwhile, fell 3.8 percent to close in correction territory.

The yield on the three-year Treasury note surpassed its five-year counterpart on Monday. When a so-called yield curve inversion happens — short-term yields trading above longer-term rates — a recession could follow, though it is often years away after the signal triggers.

Stocks began falling to their lows of the day after Jeffrey Gundlach, CEO of Doubleline Capital, told Reuters this inversion signals that the economy “is poised to weaken.”

Some bond experts, however, have said it may not be time to panic yet.

While inversions have been reliable recession indicators in the past, the most important relationship — between the 3-month and 10-year government notes — is not inverted and thus hasn’t indicated the likelihood of a contraction ahead.

The market concerns were further exacerbated by confusion surrounding the agreement that was struck between U.S. President Donald Trump and Chinese President Xi Jinping over the weekend at the G-20 summit in Buenos Aires, Argentina.

The two economic powerhouses have been locked in an ongoing trade war, which has continued to rock global markets for much of 2018.

While the U.S. and China agreed over the weekend to hold off on any additional tariffs on each other’s goods, there have been conflicting messages coming from within the White House as well as differing opinions from Trump, Washington and Beijing over the actual details of the agreement.

The CBOE Volatility Index, popularly known as the VIX, leaped about 26.16 percent to 20.74. The VIX measures implied volatility on S&P 500 index options. It had earlier hit a high of 21.94 — its highest levels since Nov. 23 when it touched a high of 22.65.

— CNBC’s Fred Imbert and Jeff Cox contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: eustance huang
Keywords: news, cnbc, companies, tuesdays, point, sp, points, futures, 500, president, index, volatility, market, yield, nasdaq, rout, recovery, weekend, slight


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Can markets have a jolly festive season?

Santa’s performance for the Dow Jones Industrial Average has been fairly reliable over the past five years, with investors rewarded in every year except 2015. But in each of the years when Santa delivered the goods, the market was already trending higher — 2015, the exception, saw a weaker market so Santa stayed away. The Dow pattern in 2018 is also lower but with jagged highs and lows, leaving some nervousness about whether investors will be left empty-handed. There is no doubt it will take a b


Santa’s performance for the Dow Jones Industrial Average has been fairly reliable over the past five years, with investors rewarded in every year except 2015. But in each of the years when Santa delivered the goods, the market was already trending higher — 2015, the exception, saw a weaker market so Santa stayed away. The Dow pattern in 2018 is also lower but with jagged highs and lows, leaving some nervousness about whether investors will be left empty-handed. There is no doubt it will take a b
Can markets have a jolly festive season? Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: karen tso, brendan mcdermid
Keywords: news, cnbc, companies, rally, lows, investors, points, season, festive, dow, markets, higher, index, christmas, santa, market, jolly


Can markets have a jolly festive season?

It’s December and time to deck the halls with boughs of holly, or in CNBC’s case, the business channel with chatter of a potential Santa Claus rally and 2019 fortunes.

Santa’s performance for the Dow Jones Industrial Average has been fairly reliable over the past five years, with investors rewarded in every year except 2015. But in each of the years when Santa delivered the goods, the market was already trending higher — 2015, the exception, saw a weaker market so Santa stayed away.

The Dow pattern in 2018 is also lower but with jagged highs and lows, leaving some nervousness about whether investors will be left empty-handed.

There is no doubt it will take a big bag of quadruple points for the Dow to rally to 26,950 points, the October high. But it is not impossible that a dose of Christmas magic will be sprinkled on the index given the erratic trade we’ve witnessed.

Federal Reserve Chairman Jerome Powell played his role last week, transforming from Christmas Grinch to peaceful dove when he said U.S. interest rates were closing in on neutral levels. Powell’s olive branch may have encouraged the Dow to bid farewell to recent lows, but is it enough to sweep the index 11-percent higher in one month, or more than 2600 points from its lows, to reclaim the highs?

Tactically, many are open to the prospect.

“The market fall in the last six weeks has discounted many of next year’s problems. A bit of good news or just an absence of bad news ‎could drive over-sold markets higher,” said David Miller, executive director of Quilter Cheviot Investment Management.


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: karen tso, brendan mcdermid
Keywords: news, cnbc, companies, rally, lows, investors, points, season, festive, dow, markets, higher, index, christmas, santa, market, jolly


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Europe rallies 2% after US and China agree to temporary trade truce; miners surge 5%

The pan-European Stoxx 600 was up more than 2 percent during early morning deals, with all sectors in positive territory. Germany’s DAX index led the gains among the major bourses, surging over 2.5 percent Monday morning. Looking at individual stocks, Netherlands-based pharmaceutical company Argenx rose toward the top of the European benchmark. Meanwhile, Dutch company Signify slipped to the bottom of the index, after J.P. Morgan revised its stock recommendation to “underweight” Monday morning.


The pan-European Stoxx 600 was up more than 2 percent during early morning deals, with all sectors in positive territory. Germany’s DAX index led the gains among the major bourses, surging over 2.5 percent Monday morning. Looking at individual stocks, Netherlands-based pharmaceutical company Argenx rose toward the top of the European benchmark. Meanwhile, Dutch company Signify slipped to the bottom of the index, after J.P. Morgan revised its stock recommendation to “underweight” Monday morning.
Europe rallies 2% after US and China agree to temporary trade truce; miners surge 5% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: sam meredith
Keywords: news, cnbc, companies, surge, trade, europe, stocks, stock, index, rallies, china, miners, morning, agree, argenx, worth, temporary, truce, washington, company, shares, underweight


Europe rallies 2% after US and China agree to temporary trade truce; miners surge 5%

The pan-European Stoxx 600 was up more than 2 percent during early morning deals, with all sectors in positive territory. Germany’s DAX index led the gains among the major bourses, surging over 2.5 percent Monday morning.

Europe’s basic resources stocks — with their heavy exposure to China — jumped more than 5 percent shortly after the opening bell, as investors reacted to a cease-fire on tariffs between Washington and Beijing. Antofagsta, Glencore and Anglo American were all trading more than 6 percent higher on the news.

Looking at individual stocks, Netherlands-based pharmaceutical company Argenx rose toward the top of the European benchmark. Shares of the group soared 13 percent after Argenx announced it would enter an exclusive global collaboration and license agreement with Cilag, an affiliate of Jansen. The deal is reported to potentially be worth $1.6 billion.

Meanwhile, Dutch company Signify slipped to the bottom of the index, after J.P. Morgan revised its stock recommendation to “underweight” Monday morning. Shares of the Amsterdam-listed stock were down more than 2 percent.


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: sam meredith
Keywords: news, cnbc, companies, surge, trade, europe, stocks, stock, index, rallies, china, miners, morning, agree, argenx, worth, temporary, truce, washington, company, shares, underweight


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George HW Bush presided over third best S&P return for a GOP president

Bush — remembered as much for his stumbles on the economy as his foreign policy achievements — ironically ranks as the third-best GOP president ever for the stock market as measured by the nearly century-old S&P. During the Texas Republican’s one term in the White House from January 1989 to January 1993, the S&P 500 index gained 52 percent, trailing only GOP predecessors Dwight D. Eisenhower and Ronald Reagan. (President Donald Trump ranks as No. The index has gained about 22 percent since Trump


Bush — remembered as much for his stumbles on the economy as his foreign policy achievements — ironically ranks as the third-best GOP president ever for the stock market as measured by the nearly century-old S&P. During the Texas Republican’s one term in the White House from January 1989 to January 1993, the S&P 500 index gained 52 percent, trailing only GOP predecessors Dwight D. Eisenhower and Ronald Reagan. (President Donald Trump ranks as No. The index has gained about 22 percent since Trump
George HW Bush presided over third best S&P return for a GOP president Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: matthew j belvedere, spencer platt, getty images
Keywords: news, cnbc, companies, republican, return, gained, office, president, gop, hw, bush, best, index, sp, george, 500, ranks, 1989, presided


George HW Bush presided over third best S&P return for a GOP president

The late George H.W. Bush — remembered as much for his stumbles on the economy as his foreign policy achievements — ironically ranks as the third-best GOP president ever for the stock market as measured by the nearly century-old S&P.

During the Texas Republican’s one term in the White House from January 1989 to January 1993, the S&P 500 index gained 52 percent, trailing only GOP predecessors Dwight D. Eisenhower and Ronald Reagan. (President Donald Trump ranks as No. 6 out of the nine Republican leaders since the S&P’s inception. The index has gained about 22 percent since Trump’s January 2017 inauguration.)

As for No. 1 on the Republican side, Ike’s two terms in office led to a 130 percent advance by the S&P, which went from 90 stocks to 500 in the middle of his 1953-1961 presidency. Meanwhile, Reagan’s eight years in office from 1981 to 1989 produced a 114 percent increase in the S&P 500.


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: matthew j belvedere, spencer platt, getty images
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European markets edge higher on policy hopes ahead of G-20 summit; Banco BPM shares rise 2%

Europe’s banking index led the gains shortly after the opening bell, up around 0.8 percent amid support from Italy’s notoriously fragile lenders. On Tuesday, deputy Prime Minister Matteo Salvini reportedly said he would like to avoid any EU disciplinary action concerning the government’s expansionary budget plans. Italy’s Banco BPM was the top sectoral performer during early morning deals, up around 2.5 percent. EU government representatives are set to back disciplinary proceedings by the Europe


Europe’s banking index led the gains shortly after the opening bell, up around 0.8 percent amid support from Italy’s notoriously fragile lenders. On Tuesday, deputy Prime Minister Matteo Salvini reportedly said he would like to avoid any EU disciplinary action concerning the government’s expansionary budget plans. Italy’s Banco BPM was the top sectoral performer during early morning deals, up around 2.5 percent. EU government representatives are set to back disciplinary proceedings by the Europe
European markets edge higher on policy hopes ahead of G-20 summit; Banco BPM shares rise 2% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: sam meredith, alexandra gibbs
Keywords: news, cnbc, companies, shares, hopes, rise, index, summit, markets, policy, g20, stock, italys, higher, increase, european, morning, eu, company, edge, disciplinary


European markets edge higher on policy hopes ahead of G-20 summit; Banco BPM shares rise 2%

Europe’s banking index led the gains shortly after the opening bell, up around 0.8 percent amid support from Italy’s notoriously fragile lenders. On Tuesday, deputy Prime Minister Matteo Salvini reportedly said he would like to avoid any EU disciplinary action concerning the government’s expansionary budget plans. Italy’s Banco BPM was the top sectoral performer during early morning deals, up around 2.5 percent.

Rome remains at loggerheads with European commissioners over a proposed budget that would increase the country’s deficit to 2.4 percent of annual economic output during 2019.

EU government representatives are set to back disciplinary proceedings by the European Commission against Italy on Thursday, Reuters reported, citing two unnamed EU sources.

Looking at individual stocks, France’s EDF surged towards the top of the benchmark after President Emmanuel Macron said Wednesday that a decision over any possible increase of the state’s stake in the company would take place next year. Shares of the Paris-listed stock rose 2.6 percent.

Meanwhile, Danone slumped towards the bottom of the index after Goldman Sachs downwardly revised its stock recommendation to “sell” from “neutral” Wednesday morning. Shares of the company slipped more than 2 percent on the news.


Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: sam meredith, alexandra gibbs
Keywords: news, cnbc, companies, shares, hopes, rise, index, summit, markets, policy, g20, stock, italys, higher, increase, european, morning, eu, company, edge, disciplinary


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