Americas
Friday, 03 May 2013 03:12
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NEW YORK: US stocks closed about 1 percent higher on Thursday, led by tech shares, after weekly jobless claims figures pointed to improving labor market conditions a day before the closely watched monthly payroll report.The European Central Bank also lifted sentiment, putting the S&P 500 at another all-time closing high, as the ECB cut interest rates for the first time in 10 months and held out the possibility of further action if necessary to boost the euro zone economy.The move follows Wednesday's Federal Reserve statement in which the Fed said it will continue its bond buying scheme to keep interest rates low and spur growth, and would step up purchases if needed."This shows that central banks are very determined to ensure that the system is stable and that the global economy continues to be propped up if needed," said Weyman Gong, chief investment strategist at Signature in Norfolk, Virginia. "This ...
TORONTO: Financial shares pushed Canada's main stock index higher on Thursday after the European Central Bank cut interest rates and insurers Manulife Financial Corp and Great West Life reported encouraging earnings.The market was also supported by data showing the number of Americans filing new jobless benefits claims fell sharply last week to its lowest level since the early days of the 2007-09 recession, a sign the job market is still healing even though the economy ...
NEW YORK: US stocks rallied Thursday after an expected European Central Bank interest rate cut and a strong report on US jobless claims.About 40 minutes into trade, the Dow Jones Industrial Average gained 47.92 (0.33 percent) at 14,748.87.The broad-based S&P 500 added 6.12 (0.39 percent) at 1,588.82, while the tech-rich Nasdaq Composite Index jumped 15.78 (0.48 percent) to 3,314.91.The gains came as new claims for US unemployment benefits -- an indicator of the pace of ...
NEW YORK: US stocks tumbled Wednesday following weak employment and manufacturing data, and as the Federal Reserve stuck to its aggressive economic stimulus program.The Dow Jones Industrial Average lost 138.85 (0.94 percent) to 14,700.95.The broad-based S&P 500 fell 14.87 (0.93 percent) to 1,582.70, while the tech-rich Nasdaq Composite Index sank 29.66 (0.89 percent) to 3,299.13.Wednesday's losses came after the ADP job report showed April job growth fell to the slowest level in seven months. Markets ...
NEW YORK: Nelson Saiers, a trader and math whiz, runs the type of hedge fund that tends to perform best when markets are going haywire.The $600 million Saiers Capital fund and other so-called volatility funds use complex trading strategies to take advantage of pricing discrepancies caused by gyrations in global financial markets.These funds flourished in the years after the financial crisis, when volatility was running hot, but this year is a different story.Financial markets have ...
TORONTO: Canada's main stock index jumped more than 1 percent on Tuesday, buoyed by gains in almost all main sectors and in Suncor Energy Inc shares after a strong earnings report.The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 143.83 points, or 1.17 percent, at 12,456.50. Nine of the 10 main sectors of the index were higher.<Center><b><i>Copyright Reuters, 2013</b></i><br></center> ...
TORONTO: Canada's main stock index closed sharply higher on Monday, as the country's heavyweight banks and energy companies notched decent gains after Italy ended months of political uncertainty with the formation of a coalition government.The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 92.47 points, or 0.76 percent, at 12,312.67.<Center><b><i>Copyright Reuters, 2013</b></i><br></center> ...
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