FTSE 250 slides after worst-than-expected decline in UK retail sales

Retail sales volumes dived by a worse-than-expected 1.2% in May, as rising prices depressed annual consumer spending growth to levels last seen in 2013. Furniture sellers were among the worst hit as consumers diverted their spending to essential items and food, a trend reinforced by a profit warning from sofa specialist DFS. The fall was deeper than the 0.8% month-on-month decline analysts expected, and means that retail sales were only 0.9% higher than a year ago – the weakest rise since April 2013…

Wall Street jumps to record highs after Trump promises ‘phenomenal’ tax plan

Wall Street’s three main indexes hit record highs on Thursday, amid gains across sectors, led by financial and energy stocks. The S&P 500 financial index .SPSY rose 1.06 percent and was on track to snap a three-day losing streak after President Donald Trump said he would make a tax announcement in a few weeks. Oil prices rose 1.3 percent, extending gains to the second day, supported by an unexpected draw in U.S. gasoline inventories…

Strong dollar has U.S. exporters bracing for tough times; in Europe, looking to increase exposure

The dollar is on a tear, and that is shaping corporate strategy on both sides of the Atlantic. U.S. exporters are bracing for tough times. Their goods overseas are suddenly more expensive in many places, and foreign earnings are worth less when translated back into dollars. For European exporters, by contrast, the dollar’s strength has created opportunity…

Oil prices slide on profit-taking after markets rallied the previous day

Oil prices fell on Thursday on profit-taking, after markets rallied the previous day on another unseasonal draw in U.S. crude oil stocks helping bullish sentiment from an expectation of an OPEC-led cut in production. U.S. West Texas Intermediate crude oil futures were at $51.03 per barrel at midday European trading, down 57 cents from their last close. Brent crude futures were at $52.12 per barrel, down 55 cents…

Alibaba posts huge jump in sales, blows away Wall Street’s forecasts

Many investors remain worried about the health of China’s economy. But it looks like the Chinese are still shopping until they drop. The country’s e-commerce giant Alibaba reported a huge jump in sales that topped Wall Street’s forecasts. Alibaba said on Thursday that revenue for its fiscal second quarter surged nearly 60% from a year ago to $4.84 billion, easily surpassing analysts’ estimates for sales of $4.54 billion…

Economists see U.S. adding 155K jobs a month in next 12 months, down from 180K

The job gains of recent years, when the economy routinely added more than two million jobs annually, may be a thing of the past. Forecasters have sharply lowered their expectations for job growth in the coming year after employers added just 38,000 jobs in May, according to The Wall Street Journal’s latest survey of academic, business and financial economists…

Wall Street rallies after Fed lowers expectations to two rate hikes this year

Wall Street edged up on Thursday as FedEx and GE shares lifted the industrials sector, a day after the Federal Reserve’s lowered projection of two interest rate hikes in 2016 pushed the S&P 500 to its highest close this year. The Dow eked out a small profit for 2016, while the S&P 500 was on the verge of crossing over into positive territory for the year…

Investment banks face 15% slump in market trading revenue in first quarter

Banks are facing a slump of 15 percent in market trading revenue in the first quarter, spoiling what is normally the most lucrative period when investors put their money to work at the start of the year. Investment banks are suffering after a steep decline in oil prices and worries about China’s economy triggered a wave of volatility that swept through financial markets in the first six weeks of the year…

U.S. oil and natural gas rigs sink to lowest level since 1949

So much for “drill, baby, drill.” The number of active oil and natural gas rigs in the U.S. has plunged to the lowest level on record going back to 1949, according to a Baker Hughes report released on Friday. It’s a reflection of the dramatic downturn in the U.S. energy industry caused by excess supply. […]

AU RBA Interest Rate Decision | September 2, 2014 | Currency Trading News

AU RBA Interest Rate Decision today is expected to remain unchanged yet again as current economic data out of Australia really does not support rate change at this time and with AUD exchange rates remain strong, there is very little inflationary pressure for RBA to act… Here´s the forecast for this news release: 12:30am (NY […]

U.S. consumers hit by perfect storm of events

(Reuters) – January was a tough end to a tough holiday season for U.S. retailers. Shoppers last month continued to pinch their pennies, seeking out bargains and paying fewer visits to stores…

Wall Street turns focus on U.S. bank earnings

(Reuters) – A more robust U.S. economy could lift 2014 profits and boost corporate spending, giving some comfort to investors worried about bloated stock prices…

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