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6 Articles
Source: Common Domain

Mnuchin thinks there’s a simple reason the Dow is poised for its worst December since 1931

Today 13:36 GMT

Treasury Secretary Steven Mnuchin has weighed and measured the recent destruction that put the Dow Jones Industrial Average on track for its worst December since 1931, and he appears to have drawn his own conclusions as to the impetus.

In fact, if the Dow were to finish the month at its current level, down about 7%, it would mark the worst December since 1931, when it fell 17.01%, according to Dow Jones Market Data.

2 Articles
Source: Common Domain

Blue Apron Is Now a Penny Stock and It’s a Cautionary Tale for Next Year’s IPO Market

Today 13:35 GMT

Blue Apron’s (APRN) public experience gives investors something to contemplate as they look forward to a 2019 IPO lineup that could include big names like Uber, Lyft, Airbnb and Slack Technologies.

For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

2 Articles
Source: Common Domain

Stocks Edge Up Ahead of Final Fed Decision of the Year

Today 13:36 GMT

Stock in Asia were mixed, with Hong Kong’s Hang Seng inching 0.1% higher while Japan’s Nikkei Stock Average fell 0.6% and stocks in Shanghai and Shenzhen fell over 1%.

European stocks and U.S. stock futures inched slightly higher Wednesday ahead of a highly anticipated Federal Reserve meeting that is expected to set the tone for interest rates next year. The Stoxx Europe 600 edged up 0.3% in early trading led by Italian stocks, following a mixed trading session in Asia.

1 Article
Source: DW

SoftBank's mobile unit shares debut on Japan stock market

Today 13:36 GMT

Japan's telecoms giant Softbank went public on the Tokyo stock market on Wednesday, in what was one of the world's biggest Initial Public Offerings (IPO).

Softbank's stock market debut follows an embarrassing moment for the firm earlier this month, when tens of millions of SoftBank and the UK's O2 customers were unable to access data due to a glitch with software made by Sweden's Ericsson. The IPO is part of a wider strategy by SoftBank Group's chief, Masayoshi Son to transform the company from a Japan-based telecoms operation to a global hi-tech investment firm.

1 Article
Source: Common Domain

Bond market’s inflation gauge slides to lowest since Oct. 2017 as Fed meeting gets underway

Today 13:36 GMT

The bond market’s gauge of inflation expectations slid to its lowest level since last December after crude prices slumped to a 16-month low.

While the bond market’s inflation gauge tends to follow the turbulent moves in the crude oil market, making it too volatile for the central bank as a reliable gauge of inflation, in recent speeches several members of the Federal Open Market Committee, including St. Louis Fed President James Bullard and Fed Vice Chairman Richard Clarida, have cited the merits of watching the market-based measure of price prospects.

1 Article
Source: Fox News

Fiorina: Trump 'Jawboning' the Fed on Interest Rates Is 'Wholly Inappropriate,' Won't Help Markets

Today 13:36 GMT

Responding on "America's Newsroom," former Republican presidential candidate Carly Fiorina said President Trump "jawboning" the Federal Reserve over interest rates will not help matters.

Trump took to Twitter Tuesday morning, imploring the Federal Reserve officials to read an editorial in the Wall Street Journal and not "make yet another mistake" by raising interest rates again.

1 Article
Source: Reuters

From Jakarta to Buenos Aires, the world feels Fed's sting

Today 09:54 GMT

When the U.S. Federal Reserve kept lifting interest rates this year, a world away in Jakarta profits dropped to next to nothing at Andy Kurniawan’s shop selling collectible action figures.

Months later, three or four of the 30 employees at TAAD, a light-switch manufacturer on the working-class outskirts of Buenos Aires, were about to lose their jobs. The company’s president, Daniel Araujo, said the plunging local peso currency made raw copper and plastics the firm imports so expensive that he had to halve production.

1 Article
Source: Common Domain

Why free-market economists aren’t impressed with Trump’s deregulation efforts

Today 13:36 GMT

Yet even free-market economists often favor regulation when there are negative effects from an activity, called “externalities”, such as the environmental effects of burning coal.

This is adapted from a blog post entitled “Regulation Watch” published on The Library of Economics and Liberty website.

1 Article
Source: DW

Is angst about China behind Germany's stricter foreign investment rules?

Today 09:54 GMT

China and Germany have major disagreements over protection of intellectual property and government subsidies to Chinese state-owned companies.

Germany is planning to tighten rules on share purchases in German firms by non-EU companies, business daily Handelsblatt reported on Sunday. Chancellor Angela Merkel's cabinet plans to approve the law change on Wednesday and send it to parliament, the paper said.

1 Article
Source: Common Domain

U.S. stock futures climb ahead of Fed meeting; trade optimism returns

Today 13:36 GMT

U.S. stock futures indicated a higher start for Wall Street when the market opens later on Wednesday, with fresh trade-deal optimism helping to lift sentiment as investors await the outcome of a key policy announcement from the Federal Reserve.

Optimism on U.S.-China trade talks returned to the market after U.S. Treasury Secretary Steven Mnuchin said the U.S. and China will meet in January to broker a trade-war truce, in an interview with Bloomberg News on Tuesday.

2 Articles
Source: Common Domain

U.S. stock market looks set to rebound after two days of pummeling

Today 13:36 GMT

U.S. stock index futures pointed to a higher open Tuesday, after a multisession rout took the Nasdaq and the S&P 500 to their lowest levels since the autumn of 2017.

Read: Here’s why the Fed won’t save the stock market, despite its worst December start since 1980. Persistent fears that sluggish global growth will wash up on U.S. shores continues to unsettle investors and has thus far resulted in the worst equity market selloff in recent memory, primarily underpinned by rising interest rates and trade-war jitters.

1 Article
Source: Fox News

Gold makes a safe Christmas gift this season

Today 13:36 GMT

With volatile market conditions and rising concerns about a looming recession grabbing the headlines, the effort to achieve superior risk-adjusted returns spreads to alternative categories -- like gold and other commodities.

Spot gold prices have really stood out to me and my investment group since the S&P 500 and other indexes topped out in late September. Not only had the summer selling in gold become completely exhausted that month, but a true basing out was soon to be occurring.

1 Article
Source: Common Domain

Once-Roaring U.S. Luxury Home Sales Deflate in October

Today 13:35 GMT

Once-surging U.S. luxury home sales decelerated in October, though 2018 is still likely to be a record year for the country’s million-dollar home market, according to the latest data from Realtor.com.

Luxury sales continue to be healthy—driven by buyers in low-tax markets in Florida and Tennessee—but have eased significantly from the double-digit rates seen earlier this year. "While more high-end markets are seeing real signs of deceleration in October, this year is still on track to see record levels of luxury sales and prices," said Javier Vivas, director of economic research for Realtor.

1 Article
Source: Common Domain

Asian markets mixed ahead of Fed rate decision

Today 13:36 GMT

Asian stock markets were mixed Wednesday, as traders mulled over the Federal Reserve’s interest rate decision and weaker-than-expected Japanese trade data.

“The dollar has been on offer throughout the Asia session as traders start aggressively pricing what is expected to be a dovish Fed hike,” Innes said. The dollar USDJPY, -0.22%   weakened to 112.39 yen from 112.52 yen in late trading Tuesday.

1 Article
Source: Common Domain

‘It’s Been a Rout’: Apple Stumbles in World’s Largest Untapped Market

Today 09:54 GMT

The declines followed reductions in planned iPhone production and analysts’ reports that consumer interest in new iPhones is waning.

The number of iPhones shipped in India has fallen 40% so far this year compared with 2017, and Apple’s market share there has dropped to about 1% from about 2%, research firm Canalys estimates. Just 24% of Indians own smartphones, and the number of users is growing faster than in any other country, according to research firm eMarketer.


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