The US government 10-year yield dropped one basis point to 2.51% as of 6:01 am in New York amid optimism Fed will postpone monetary stimulus tapering until March 2014, as US economy strengthens at slower pace. The price for 2.5% security note maturing in August 2023 added 63 cents per $1,000 nominal value, to 99,875.
Bank of America Corp. announced its plan to eliminate as much as 3,000 jobs across the U.S., while the majority of all cuts will be in the mortgage department. Bank's officials say that the number of accepted applications for mortgage shrank 60% from June to September. Bank of America Corp. stocks lost 0.28% to $14.17 per share during the yesterday's
Microsoft Corp. released its quarterly report for the July-September period, as the company showed better than expected results. Revenues of the company jumped 16% to $18.53 billion, as consumers bought more its products and services. Net income climbed 17% to $5.24 billion, or $0.62 per share. Today, Microsoft Corp. equities are surging 5.28% to $35.50 per share at pre market
Volvo AB, the largest car maker in Sweden, has posted an unexpected decrease in its profit for the third quarter of this year, as the stronger Swedish national currency trimmed company's earnings. The net profit declined 0.9% to 1.39 billion kronor with total revenues of 64.9 billion kronor, up 4.9%. Today, Volvo AB shares prices are going down 6.94% to
According to the newest data, business confidence in the largest economy of the Eurozone fell slightly in October of the current year, but the overall long-term trend continued to be positive. The decline was registered for the first time since April. The benchmark index reached 107.4 points against 107.7 in September. At the same time, a majority of analysts expected
Bullion for December delivery slipped 0.5% to $1,344.20 an ounce in New York on speculations Federal Reserve will slow its monetary stimulus as US economy strengthens, which reduces demand for gold as safe-haven asset. Gold for immediate delivery declined 0.2% to $1,344.38 an ounce as of 9:56 am, London time.
The kiwi depreciated versus all its 16 major counterparts following weekly decrease to 1.4%, as New Zealand's central bank is unlikely to increase borrowing costs, a measure that could boost the currency and negatively affect the exports. The New Zealand's currency slipped 0.3% to NZ$1.1540 per Australian Dollar at 4:52 pm in Sydney, while it weakened 0.4% to 83.23 U.S.
Retail sales in Italy did not change from the previous month in August of this year, while many experts forecasted the sales to add 0.2%. It is worth pointing out that Italian retail sales missed economists' estimates already for the 14th consecutive month. At the same time, July data was revised positively on both monthly and annual basis. It is
The Pound advanced 0.1% to $1.6224 at 9:44 am in London, after touching $1.6257, the highest level since October 1, as UK gross domestic product expanded at fastest pace in Q3 since the Q2 of 2010, according to government report. The Sterling advanced 0.4% against greenback during this week, while it changing hands at 82.21 pence per Euro.
Economic growth in the United Kingdom reached 0.8% in the third quarter of this year, while all the main sectors of country's economy posted an increase in output. The result fully matched economists' predictions. During April-June quarter economy grew 0.7%. At the same time, the Bank of England still does not plan to increase official interest rates, until the unemployment
The Canadian currency sunk 0.4% to C$1.0422 per greenback as of 5pm in Toronto, after reaching its lowest level since September 9, after Central Bank signalled a need for increasing the interest rates in the nearest future, amid risks for economic recovery. Meanwhile, the inflation is likely to stay above its 2% target, the Bank of Canada said. The so-called
The U.S. Dollar depreciated 0,2% to $1.3824 per Euro as of 6:54 in London, after reaching $1.3832, the lowest level since November 2011, amid negative estimations of U.S. consumer comfort index that will be released today and speculations the Fed will maintain its monetary stimulus for longer. The greenback fell 0.2% to 97.05 Yen, after touching 96.94, the weakest since
Initial claims for unemployment benefits dropped 12,000 to 350,000, which is 4,000 more than expected, comparing to 362,000 in previous week, Labor Department revealed on Thursday. The Labor Department estimates a fall of approximately 18,000 initial jobless claims to 340,000, while the official US unemployment rate slid 1% to 7.3% last month.
Benchmark US Crude Oil for December delivery added 0.32 US cents to $97.18 a barrel on Thursday morning, after four-month low, amid China's strong manufacturing data that beat forecasts. According to EIA, US crude stocks advanced 5.20 million barrels on Wednesday's trading hours, against economists' last week expectations of 1.7 million barrels gain.
The 10-year Treasuries dropped five basis points to 2.49% as of 9:39 am in New York, after slipping to 2.47% yesterday, the weakest since July 22, as a report revealed more than expected jobless claims for benefits last week. Meanwhile the US debt increased for last three days as trade deficit advanced 0.4% to $38.8, according to Commerce Department
European shares rose as some major companies posted their earnings that topped the estimates, while China's manufacturing grew more than expected monthly. The Stoxx Europe 600 Index gained 0.3% to 319.91 as of 1:55 p.m. London time; however, the equity-benchmark slipped 0.6% on Wednesday, snapping its longest advance in more than three years.
Trade deficit of the United States decreased slightly to $38.8 billion in August of this year, while a month earlier the deficit stood at $38.6 billion and was revised up. At the same time, economists expected the deficit to surge, reaching $39.5 billion. Export declined 0.1% to $189.2 billion, however, the U.S. manufacturers has exported a record high number of
Canada's currency depreciated to the lowest level in two weeks after nation's central bank dropped the language on possible interest-rate increases, topic that the officials have talked about for approximately a year. The Canadian Dollar dropped 0.2% to C$1.0399 per U.S. Dollar as of 8:07 a.m. Toronto time and the currency slid to C$1.0408, the lowest since October 11.
According to the announcement of the COO of Goldman Sachs bank Gary D. Cohn, American economy is still benefiting from the stimulus of the Federal Reserve. In September, the Fed decided to continue its assets' buying program of $85 billion monthly. Cohn said that the U.S. economic growth remains quite weak, while continuing stimulus would increase its chances to advance
U.K. shares gained, with the regional benchmark FTSE 100 Index bouncing off from its first decline in last 10 days, as Chinese manufacturing grew more than expected. The FTSE 100 added 0.3% to 6,694.69 as of 10:44 a.m. London time and it has risen 5.6% in the last nine days. The FTSE All-Shares Index climbed 0.3%, while Ireland's ISEQ Index
Gold rose on bets that Fed's prolonged monetary stimulus increased demand for metals. The yellow metal for immediate delivery gained 0.2% to $1,335.92 an ounce as of 10:48 a.m. London time, while its futures climbed 0.1% to 1,335.80 an ounce. Silver added 0.5% to $22.6635 an ounce, while platinum advanced 0.2% to $744.45 an ounce.
Manufacturing sector in China continued to expand, while the benchmark HSBC PMI Index, which measures the activity in this sector of the economy, reached 50.9 points from 50.2 points a month earlier. Economists forecasted the index to add 0.2 points to 50.4. Analysts see the Chinese economy recovering after the period of uncertainty, when many people predicted cooling of the
The U.S. Dollar slipped to the lowest level in two years versus the 17-nation currency on worries that U.S. recovery has slowed down after nation's government shutdown this month. The greenback fell 0.2% to $1.3803 per Euro as of 6:57 a.m. in New York after touching $1.3822, while it dropped 0.1% to 97.33 Yen after reaching 97.16 yesterday, the weakest
Manufacturing activity in France, measured by the benchmark PMI Index, slumped to 49.4 points in October of the current year from 49.8 points a month earlier, while analysts expected the index to rise to 50.1 points. The reading over 50 points would indicate the increase in business activity. At the same time, activity in services sector continued to advance, as