Search our blog for articles and insights right here, just type your interest and dive into a world of knowledge.
Popular articles
Market Update: Wall Street and Global Trends
Following a midweek break, Wall Street is energized with stocks at record highs. Overseas, monetary easing takes center stage as the Swiss cut interest rates for the second time this year, and anticipation builds for the Bank of England's decision. Nvidia continues to dominate the U.S. market, with its stock increasing by 1% on Tuesday and pushing S&P500 futures up by 0.4%.
Globally, the dollar remains strong while China's economic scene appears more tenuous. The offshore yuan reached its weakest level this year, and despite the People's Bank of China maintaining its rates, Chinese stocks fell again on Thursday. Concerns arise that a weak yuan is hindering China's ability to ease monetary policy amid a housing crisis. Simultaneously, the Japanese yen experienced fresh lows since the Bank of Japan’s intervention in April.
European markets showed resilience. The Swiss National Bank’s rate cut further boosted Swiss stocks, although Norway's central bank held firm due to inflation concerns. The Bank of England's upcoming decision is highly anticipated, with the expectation that it will maintain current rates amid mixed inflation signals. Sterling fell slightly against the dollar but rose against the euro.
In France, stocks climbed despite political instability, and attention turned to budget deficits in France and Italy as flagged by the European Union. Treasury yields in the U.S. edged up as markets reopened on Thursday, focused on housing data and jobless claims following last week’s significant increase. The only indicator released during the "Juneteenth" holiday was a disappointing June NAHB housing sentiment figure.
Key Business Developments
Significant corporate news includes Britain's Tate & Lyle falling 6.5% after announcing a $1.8 billion purchase of U.S.-based CP Kelco. Additionally, UK bank NatWest plans to acquire the majority of Sainsbury’s banking business, expanding its assets.
