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POPULAR NEWS
Gold futures end lower a day after highest finish since 2011

Gold futures pulled back Wednesday, after settling a day earlier at their highest since 2011. "Gold remains in an uptrend but some fatigue may be kicking in," said Lukman Otunuga, senior research analyst at FXTM. Data from Automatic Data Processing Inc. Wednesday showed that U.S. private-sector employers added 2.37 million jobs in June, less than analysts expected. Still, "some optimism may return over the U.S. economy recovering quicker than expected," something that may hit haven gold, he...

Hong Kong Stocks Finish Higher (Review)

Hong Kong shares closed with gains Tuesday following a rally in New York as traders welcomed upbeat economic data, though they remained cautious after China passed a controversial security law for the city. The Hang Seng Index added 0.52 percent, or 125.91 points, to 24,427.19. The benchmark Shanghai Composite Index rose 0.78 percent, or 23.16 points, to 2,984.67 while the Shenzhen Composite Index on China's second exchange jumped 1.88 percent, or 36.40 points, to 1,975.52. Source : AFP

Oil Rises Toward $40 on Signs U.S. Stockpiles Are Shrinking

Oil rose after its best quarter in almost three decades following a report pointing to the first drop in U.S. crude stockpiles since May. Futures in New York climbed toward $40 a barrel after closing down 1.1% on Tuesday. The industry-funded American Petroleum Institute said that inventories shrunk by 8.16 million barrels last week, according to people familiar with the data. That would be the largest draw this year if confirmed by Energy Information Administration figures due later...

Stocks rise on positive coronavirus vaccine news, Pfizer gains

Stocks traded higher on Wednesday to kick off the second half of 2020 with market sentiment getting a lift from positive coronavirus vaccine news and strong U.S. economic data. The S&P 500 climbed 0.4% and the Nasdaq Composite advanced 0.5%. The Dow Jones Industrial Average rose 36 points, or 0.2%. At one point, the Dow was up more than 200 points. A study of a coronavirus vaccine candidate being developed by Pfizer and BioNTech showed the drug created neutralizing antibodies. The...

Gold Pushes Higher After Best Quarter in Four Years

Gold is continuing to rise after setting its best quarter in four years due to coronavirus concerns and negative real interest rates. Spot gold is up 0.5% at $1,788.75 a troy ounce, while futures are up 0.3% at $1,805.80 an ounce. Investors are watching U.S. inflation-adjusted Treasury bonds for gold clues. Those bond's yields--known as real yields--are currently negative, meaning investors must pay to own them. This makes gold a more attractive haven and a cheaper hedge against...

U.S. Services Growth Exceeds Expectations in Broad Advance
Tuesday, 5 November 2019 22:11 WIB | ECONOMY |ISM ASEkonomi AS

U.S. service industries expanded more thanforecast in October after tumbling to a three-year low as measures of employment, orders and business activity improved, indicating stable but moderate growth in the biggest part of the economy.

The non-manufacturing index rose to 54.7 from 52.6, an Institute for Supply Management survey showed Tuesday. The reading exceeded the median estimate of 53.5 in a Bloomberg survey of economists. While the figure is close to this year's average, it remains well below the 2018 average, consistent with the slowdown in economic growth.

The reading may help temper concern that the widespread weakness in manufacturing will drag down the rest of the economy. Continued strength in services -- which make up roughly 90% of the economy -- following a report Friday that showed steady job growth will help validate Federal Reserve Chairman Jerome Powell's view that monetary policy is currently in a œgood place after three rate cuts this year.

The ISM's measure of employment rose to 53.7 in October from a five-year low the month prior, as firms continue to add workers. The rebound in the employment gauge is in line with last week's upbeat jobs report which showed employers added a robust 128,000 employees last month despite special factors shaving more than 60,000 off the headline number.

The ISM's gauge of business activity among non-manufacturers, which parallels the group's measure of factory production, rose to 57 in October from 55.2. Readings above 50 indicate expansion.

Source : Bloomberg

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POPULAR NEWS
Gold futures end lower a day after highest finish since 2011

Gold futures pulled back Wednesday, after settling a day earlier at their highest since 2011. "Gold remains in an uptrend but some fatigue may be kicking in," said Lukman Otunuga, senior research analyst at FXTM. Data from Automatic Data Processing Inc. Wednesday showed that U.S. private-sector employers added 2.37 million jobs in June, less than analysts expected. Still, "some optimism may return over the U.S. economy recovering quicker than expected," something that may hit haven gold, he...

Hong Kong Stocks Finish Higher (Review)

Hong Kong shares closed with gains Tuesday following a rally in New York as traders welcomed upbeat economic data, though they remained cautious after China passed a controversial security law for the city. The Hang Seng Index added 0.52 percent, or 125.91 points, to 24,427.19. The benchmark Shanghai Composite Index rose 0.78 percent, or 23.16 points, to 2,984.67 while the Shenzhen Composite Index on China's second exchange jumped 1.88 percent, or 36.40 points, to 1,975.52. Source : AFP

Oil Rises Toward $40 on Signs U.S. Stockpiles Are Shrinking

Oil rose after its best quarter in almost three decades following a report pointing to the first drop in U.S. crude stockpiles since May. Futures in New York climbed toward $40 a barrel after closing down 1.1% on Tuesday. The industry-funded American Petroleum Institute said that inventories shrunk by 8.16 million barrels last week, according to people familiar with the data. That would be the largest draw this year if confirmed by Energy Information Administration figures due later...

Stocks rise on positive coronavirus vaccine news, Pfizer gains

Stocks traded higher on Wednesday to kick off the second half of 2020 with market sentiment getting a lift from positive coronavirus vaccine news and strong U.S. economic data. The S&P 500 climbed 0.4% and the Nasdaq Composite advanced 0.5%. The Dow Jones Industrial Average rose 36 points, or 0.2%. At one point, the Dow was up more than 200 points. A study of a coronavirus vaccine candidate being developed by Pfizer and BioNTech showed the drug created neutralizing antibodies. The...

Gold Pushes Higher After Best Quarter in Four Years

Gold is continuing to rise after setting its best quarter in four years due to coronavirus concerns and negative real interest rates. Spot gold is up 0.5% at $1,788.75 a troy ounce, while futures are up 0.3% at $1,805.80 an ounce. Investors are watching U.S. inflation-adjusted Treasury bonds for gold clues. Those bond's yields--known as real yields--are currently negative, meaning investors must pay to own them. This makes gold a more attractive haven and a cheaper hedge against...

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