Trick or Trend: The rest of the year looks full of uncertainty with a downward bias
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...The numbers continue to point to slowing growth in China
The steady stream of bad news on China’s economy has led economists to predict that the Chinese government will lower its target for growth next year
At the end of the day, U.S. markets decide interest rate cuts from China’s People’s Bank won’t be enough to keep China stock markets happy tomorrow
Even at their most optimistic today, U.S. markets weren’t totally convinced that Shanghai and Shenzhen wouldn’t do something “nutty” when they open tomorrow (tonight New York time.) Apparently at the end of trading today New York investors decided that the risk of a negative Chinese reaction was just too great and they sold “just in case.”
Bounce or continued rout? Depends on when you tuned in on the markets today
U.S. stocks opened hugely lower with the Dow Jones Industrial Average plunging 1000 points at the open for a 6.6% loss and the Standard & Poor’s 500 tumbling to a 5.3% decline. But then U.S. stocks rallied into midday and held on to much of those gains in the early afternoon so that at 2:30 p.m. New York time the Dow was “only” off by 363.5 points (2.21%) and the Standard & Poor’s was down “only 2.64%.
Today worries over slowing global growth are back–and the market is giving up some of yesterday’s rally
One day after U.S. stocks rallied on what the market heard as reassuring views from the U.S. central bank on economic growth in the United States and on when the Fed would begin to increase interest rates, U.S. stocks have today, October 9, reversed course.
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