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POPULAR NEWS
Gold falls 1% after robust US jobs data

Gold slid 1% on Friday as strong U.S. jobs data renewed bets the Federal Reserve would hold pat on interest rates and boosted demand for riskier assets, while supply-squeezed palladium soared to a new record high. U.S. job growth increased by the most in 10 months in November, confirming that the economy remained on a moderate expansion path despite a prolonged manufacturing slump. Spot gold slipped 1% to $1,461.01 per ounce. U.S. gold futures settled down 1.1% at $1,465.1 per...

U.S. oil futures post biggest weekly rise since June

Oil futures settled higher on Friday, with U.S. prices up more than 7% for the week to mark their highest weekly percentage climb since June. Prices got a lift after the Organization of the Petroleum Exporting Countries and its allies announced an agreement to cut production by an additional 500,000 barrels a day starting in January. Including the 1.2 million barrels in reductions under the current pact, that will bring total output cuts to 1.7 million barrels a day from October 2018...

Hong Kong stocks finish week on positive note (Review)

Hong Kong closed more than one percent higher Friday, boosted by renewed hopes that China and the United States will eventually reach a partial trade deal. The Hang Seng index added 1.07 percent, or 281.33 points, to 26,498.37. The benchmark Shanghai Composite Index added 0.43 percent, or 12.54 points, to 2,912.01 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.82 percent, or 13.36 points, to 1,640.33. Source : AFP

Dow Closes Nearly 340-Points Higher After Jobs Report Sparks Stock-Market Rally

U.S. stocks closed solidly higher Friday, helping to wipe out or chip away at weekly losses, after an key employment report for November ignited bullish buying on Wall Street, adding to some modest progress toward a partial Sino-American trade agreement. The Dow Jones Industrial Average gained 337 points, or 1.2%, to reach 28,015, the S&P 500 index advanced 0.9% to 3,146, while the Nasdaq Composite Index climbed 1% to 8,656. The moves on Friday were in contrast to trading that started the...

Dow jumps 300 points on much better than expected U.S. jobs report for November

U.S. stocks soared after a much better-than-expected employment report for November from the Labor Department which saw the economy create 266,000 new jobs, the most since January, and the unemployment rote fell to 3.5%, a 50 year low. However, progress toward a partial U.S. - China trade deal remains a point of focus for market participants also as a deadline that will see import duties increased on Dec. 15 looms. Late morning the Dow Jones Industrial Average was up 312 points, or 1.1%, at...

Fed Cuts Rates by Quarter Point While Hinting at a Pause
Thursday, 31 October 2019 01:29 WIB | FISCAL & MONETARY |Federal ReserveFOMCThe FedEkonomi AS

Federal Reserve officials reduced interest rates by a quarter-percentage point for the third time this year and hinted they may now put monetary policy on hold, for one meeting at least.

The Federal Open Market Committee altered language in its statement following the two-day meeting Wednesday, dropping its pledge to œact as appropriate to sustain the expansion, while adding a promise to monitor data as it œassesses the appropriate path of the target range for the federal funds rate.

As with the September statement, the FOMC cited the implications of global developments in deciding to lower the target range for the central bank™s benchmark rate to 1.5% to 1.75%.

Treasuries weakened on the Fed™s announcement, pushing the 10-year yield up briefly to 1.81% from 1.80%. Stocks were little changed and the U.S. dollar gained. Traders also pared wagers on a fourth consecutive rate cut in December.

The tweaks to the statement suggest policy makers are prepared to leave rates on hold for some time and assess the impact on the economy of their reductions over the past three meetings. Chairman Jerome Powell will hold a news conference at 2:30 p.m. with reporters likely to press him to explain the changes.

Powell has said that he didn™t expect an extended series of rate reductions, while describing easing as an effort to provide insurance for an aging economic expansion imperiled by trade tensions and faltering global growth. He hasn™t said, however, how much insurance is enough.

Source : Bloomberg

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POPULAR NEWS
Gold falls 1% after robust US jobs data

Gold slid 1% on Friday as strong U.S. jobs data renewed bets the Federal Reserve would hold pat on interest rates and boosted demand for riskier assets, while supply-squeezed palladium soared to a new record high. U.S. job growth increased by the most in 10 months in November, confirming that the economy remained on a moderate expansion path despite a prolonged manufacturing slump. Spot gold slipped 1% to $1,461.01 per ounce. U.S. gold futures settled down 1.1% at $1,465.1 per...

U.S. oil futures post biggest weekly rise since June

Oil futures settled higher on Friday, with U.S. prices up more than 7% for the week to mark their highest weekly percentage climb since June. Prices got a lift after the Organization of the Petroleum Exporting Countries and its allies announced an agreement to cut production by an additional 500,000 barrels a day starting in January. Including the 1.2 million barrels in reductions under the current pact, that will bring total output cuts to 1.7 million barrels a day from October 2018...

Hong Kong stocks finish week on positive note (Review)

Hong Kong closed more than one percent higher Friday, boosted by renewed hopes that China and the United States will eventually reach a partial trade deal. The Hang Seng index added 1.07 percent, or 281.33 points, to 26,498.37. The benchmark Shanghai Composite Index added 0.43 percent, or 12.54 points, to 2,912.01 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.82 percent, or 13.36 points, to 1,640.33. Source : AFP

Dow Closes Nearly 340-Points Higher After Jobs Report Sparks Stock-Market Rally

U.S. stocks closed solidly higher Friday, helping to wipe out or chip away at weekly losses, after an key employment report for November ignited bullish buying on Wall Street, adding to some modest progress toward a partial Sino-American trade agreement. The Dow Jones Industrial Average gained 337 points, or 1.2%, to reach 28,015, the S&P 500 index advanced 0.9% to 3,146, while the Nasdaq Composite Index climbed 1% to 8,656. The moves on Friday were in contrast to trading that started the...

Dow jumps 300 points on much better than expected U.S. jobs report for November

U.S. stocks soared after a much better-than-expected employment report for November from the Labor Department which saw the economy create 266,000 new jobs, the most since January, and the unemployment rote fell to 3.5%, a 50 year low. However, progress toward a partial U.S. - China trade deal remains a point of focus for market participants also as a deadline that will see import duties increased on Dec. 15 looms. Late morning the Dow Jones Industrial Average was up 312 points, or 1.1%, at...

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