China’s manufacturing expanded in July at the fastest pace in more than two years, signaling a pickup in economic growth is strengthening amid government support policies. The Purchasing Managers’ Index (CPMINDX) was at 51.7, the National Bureau of Statistics and China Federation of Logistics and…
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China’s Manufacturing Gauge Rises to Two-Year High
Japan’s economic risks over the medium term are tilted to the downside as the government could fail to deliver the additional reforms needed to lift potential growth and pare public debt, the International Monetary Fund said on Thursday. Prime Minister Shinzo Abe needs to go beyond the second ins…
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Japan’s economy faces risks with reform agenda, debt: IMF
Hong Kong’s de facto central bank bought $2.07 billion this week to stop the local currency from strengthening beyond its 31-year-old peg to the greenback. Share listings, dividends and mergers and acquisitions are driving demand, the Hong Kong Monetary Authority said July 26. OAO MegaFon, Russia…
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Hong Kong Buys $2.07 Billion in Four Days to Defend Currency Peg
JUNE KEY POINTS FINAL DEMAND (EXCL. EXPORTS) fell 0.1% in the June quarter 2014. mainly due to falls in the prices received for other transport equipment manufacturing (-3.5%), computer and electronic equipment manufacturing (-3.4%) and other agriculture (-5.7%). partly offset by rises in th…
Activity in China’s vast manufacturing sector continued to pick up steam in July, official data showed on Friday. The official Purchasing Managers’ Index (PMI) came in at 51.7 in July, better than a Reuters forecast for 51.4 and after the 51.0 reading in June. Markets are also waiting for the …
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China official PMI rises to 51.7 in July
European equities are setting up for another leg lower, notes Bank of America Merrill Lynch. “The impulsive decline from the June highs in the Euro Stoxx 50 Index and the broader Head and Shoulders Top in the Euro Stoxx Banks index say their near-term, potentially medium-term, trends (but NOT t…
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Bearish & Short EUR/USD But Be Leery Of The Squeeze Factor – BofA Merrill
Earlier this week, Facebook crushed its second quarter earnings and its stock hit an all-time high — which really just means Mark Zuckerberg is one step closer to being the richest man in the world. Zuckerberg’s current net worth is about $33.1 billion, putting him at No. 16 in Forbe’s ranking of…
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The Fabulous Life Of Billionaire Mark Zuckerberg
The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI ® ) moved into positive territory this month, following eight month s of contraction between November 2013 and June 2014 . The index increased by 1.7 points , to 50.7 points (seasonally …
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Australian PMI: Manufacturing Sector Expands Slightly in July
A huge selloff in stocks overnight with the Dow down more than 300 points the S&P 500 close to 2%. The reason for the sell off is at the moment difficult to pin down. Europe gave the US a weak lead but that doesn’t usually matter. Some traders say it was the uptick in wages with the 0.7% rise in the…
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Forex and Bond traders watch from the sidelines as stocks have a mini-crash
Bitcoin has been falling in July, rom about 658 to about 555 before meeting the 100-day simple moving average. Here are some observations from the Daily Chart: …
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Bitcoin – Outside Bar at the 100-Day SMA
What Does the Second-Quarter’s 4 Percent GDP Growth Mean for Jobs? In the second-quarter, the United States economy grew at an annual pace of 4 percent — a welcomed improvement from the 2.1 percent contraction recorded in the first three months of the year. But while the headline number is strong…
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Yellen Has Labor Market Blues, But Full Employment Is as Close as 2016
Eurozone inflation fell to its lowest level in almost five years in July, bringing the threat of a dangerous deflationary spiral closer. The annual rate of inflation fell unexpectedly to 0.4% from 0.5% in June, dragged lower by accelerating falls in food, alcohol and tobacco prices. Energy prices…
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Eurozone inflation falls to lowest level in almost five years
The best thing we can say about Thursday’s stock market trading is that it is now over. The Dow fell 317 points, erasing all of its gains for the year. The S&P 500 and Nasdaq fell sharply as well, each down about 2%. They gave back the all the gains they had made in July. Heavy selling overseas…
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Dow plunges 317 points, now down for year
The inspector general of the Securities and Exchange Commission conducted an intensive, months-long dragnet in 2013 and 2014 involving phone, email and security searches to determine who inside the agency allegedly leaked information to the media about a closed commission meeting discussing the…
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SEC investigated its own ‘London Whale’ leak
Fitch Ratings downgrades Argentina’s ratings as follows: — Foreign Currency Issuer Default Rating (IDR) to ‘RD’ from ‘CC’; — Short-Term Foreign Currency Issuer Default Rating to ‘RD’ from ‘C’ — Local Currency IDR to ‘CCC’ from ‘B-‘; — Discount Bonds issued under Foreign Law to ‘D’ from ‘CC’;…
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Fitch Downgrades Argentina’s FC IDR to ‘RD’
That odd crimson hue on your trading turret is known as a “down day” on Wall Street, which has been a rare occurrence for the better part of the last half-decade. With the Dow Jones Industrial Average (INDEXDJX:.DJI) notching a 160% gain since March 2009 — the S&P 500 (INDEXSP:.INX) is up almost…
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Taking Stock of the Stock Market
Argentina’s main government bond, stock market and peso currency dropped on Thursday after Latin America’s No. 3 economy defaulted for the second time in 12 years following the failure of last-ditch talks with holdout creditors. And another shoe could fall after Wednesday’s default: the declarati…
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Argentine assets drop after default, "credit event" in balance
Bonds are supposed to be for conservative investors who are not willing to take on a lot of risk and don’t get freaked out by the daily market headlines. Professional fixed-income investors are data wonks happy to accept small returns over the long haul. …
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Boring bonds beat sexy stocks. Here’s why
The first half of 2014 saw the U.S. economy’s strongest stretch of hiring since early 2006. The jobless rate fell to 6.1% in June from 7.5% a year earlier, its fastest one-year decline since October 1984, and nonfarm employers added a seasonally adjusted 288,000 jobs. Can hiring keep up its strong…
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What to Watch for in Friday’s July Jobs Report
Stocks are sharply lower, with European stocks trading ugly right from the start. Germany is down more than one percent, and is lodged at the lowest levels in nearly three months. Several factors are moving our markets, including: 1) The rhetoric in Ukraine is getting downright vitriolic. The …
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Five reasons why the market is seeing red
