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Posts Tagged ‘dollar’

Powell refuses chance to say the Fed is on interest rate hold through 2020

Given a chance to say that the Federal Reserve will keep its interest rate policy on hold through 2020, Fed chair Jerome Powell refused to take the bait at this morning's testimony in front of the congressional Joint Economic Committee.  “We see the current stance of monetary policy as likely to remain appropriate as long […]

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Odd day: stocks rise on bank earnings oil falls on global growth fears

Good earnings news from big U.S. banks drove U.S. stocks higher today. As of 3 p.m. New York time, the Standard & Poor's 500 was up 1.10% and the Dow Jones Industrial Average was ahead 1.03%. The NASDAQ Composite had climbed .28% and the Russell 2000 small cap index had gained 1.17%. The iShares MSCI […]

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So last Friday’s “agreement” on U.S.-China trade wasn’t really an agreement

China now says it wants to hold more talks this month to hammer out the details of the U.S.-China mini-deal announced by President Donald Trump on Friday before Chinese President  Xi Jinping will sign it, both Bloomberg and the Washington Post are reporting today. China said it may send a delegation led by Vice Premier Liu […]

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Not surprisingly U.S.-China trade war rhetoric heats up ahead of renewal of talks

Today the Trump administration put eight of China's technology giants on a blacklist over alleged human rights violations against Muslim minorities. And China signaled that it would retaliate over the blacklist. Foreign ministry spokesman Geng Shuang told reporters “Stay tuned.” The companies on the blacklist include two video surveillance companies-- Hangzhou Hikvision Digital Technology and Zhejiang Dahua […]

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Stocks slide, bonds rally on pessimism of a thousand cuts

Stocks were down this morning with the Standard & Poor's 500 falling 1.01% as of 1 p.m. New York time and bonds were up with Treasury prices climbing to send the yield on the 10-year Treasury down 8 basis points to 1.64%. The move down wasn't the result of a single big negative headline but […]

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People’s Bank adds $126 billion in liquidity to Chinese economy

With China's economy expected to slow further in September after poor results in July and August, the People's Bank of China cut the amount of cash that banks must hold as reserves to the lowest level since 2007.  The required reserve ratio for all banks will be lowered by 0.5 percentage points as of September […]

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August jobs report disappoints; more evidence that U.S. economy is slowing

The U.S. economy added 130,000 jobs in August. Economists surveyed by Briefing.com had expected 171,000 new jobs. Once you subtracted the 25,000 new temporary jobs added by the government for the 2020 census, the results were even more disappointing with the private sector economy adding just 96,000 jobs. Economists had expected 145,000 jobs to be […]

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The market wants to believe today–rallying ahead of the Fed?

As of 2 p.m. New York time U.S. stocks were higher on just about no meaningful news. To me it looks like the market wants to climb in the very near term--testing technical momentum to move to 2950 on the Standard & Poor's 500 and maybe beyond. The "reasons" being hauled out for today's gains--0.84% […]

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Saturday Night Quarterback says (on a Sunday), For the week ahead expect…

... some things in the financial markets will be so similar to what they were before the Labor Day holiday that you might think you were never away at all. Not everything, though. Yes, the U.S.-China trade war will still be hanging fire. And the tariffs on $112 billion in Chinese imports that went into […]

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Other signs of global economic stress keep coming in

The U.S.-China trade war continues to erode business confidence in Germany. Business confidence in the country, home to Europe's largest economy, fell to its weakest level in almost seven years as a deepening manufacturing slump put the German economy on the  verge of a recession. The Bundesbank calculates that German GDP contracted in the second […]

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