Pages

Tuesday, September 16, 2014

World stocks Slipped to one-month low Ahead of Fed Meeting

Global stock markets closed mostly lower Tuesday September 16, 2014 as investors played it safe in preparation for the Fed Meeting. U.S. central bank may raise interest rates sooner than previously expected

Germany's DAX fell 0.3 percent to 9,620.59 and France's CAC-40 declined 0.5 percent to 4,404.69. Britain's FTSE 100 shed 0.2 percent to 6,791.57. Wall Street appeared set for more losses. Standard & Poor's 500 futures were down 0.1 percent and Dow futures fell 0.2 percent.

The MSCI world equity index .MIWD00000PUS, which tracks shares in 45 countries, was down 0.2 percent after hitting its lowest level since mid-August earlier in the session. In Europe, the benchmark FTSEurofirst 300 .FTEU3 was down 0.4 percent.

Asian shares also slipped. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS shed 0.7 percent to its lowest since late June, while Japan's Nikkei .N225 snapped a five-session winning streak to close down 0.2 percent.

The euro held steady at $1.2937 EUR=, hemmed in a $1.2859-$1.2980 range after a sell-off sparked by the European Central Bank's interest rate cut early this month faded.

The British pound has turned volatile in recent weeks as opinion polls narrowed ahead of Thursday's independence referendum in Scotland, which could spark a sizeable panic in U.K. markets. On Monday, the pound was 0.2 percent lower at $1.6231.

Wednesday, September 10, 2014

France Failed to Meet its EU budget deficit target

France announced that they will not make the EU-designated budget deficit target next year, they can only aim for 3% of national output only in 2017.

French finance minister Michel Sapin said on Wednesday the budget deficit would only be reduced to 4.3% of gross domestic product in 2015 after a level of 4.4% this year, the latter also a big overshoot of earlier estimates and the first annual rise in the deficit for four years.

He blamed the slow rate of economic growth and low inflation, saying France demanded that the EU “collectively take into account” an economic situation “unprecedented in recent European history”.

Sapin insisted France was not seeking to change or suspend the rules but wanted the deteriorating outlook for growth and inflation this year and next to be taken into account.

Paris has led calls for a more flexible interpretation of EU budget regulations along with Italy, but German Chancellor Angela Merkel has rejected any bending of the rules and said on Wednesday euro zone countries should stick to their commitments.

Friday, August 29, 2014

Abercrombie & Fitch Goes Down


Abercrombie & Fitch is now passé, teens are no longer impress with them and it shows on the market. Last Thursday August 28, 2014 they suffer a sharp drop in the shares of Abercrombie & Fitch Co., after very weak sales as teenagers shop for other brands.

Abercrombie & Fitch sales fell 5.8% to $890.6 million. Revenues decreased much in a year in stores in the United States.

Monday, August 18, 2014

A Significant number of Americans have no retirement Fund

About 36% of Americans don not have money for retirement as stated by Bankrate.com. 69% of 18-29 year-olds have not saved anything, along with 33% of 30-49 year-olds, 26% of 50-64 year-olds and 14% of people 65 and older.

They also stated that Americans who do save are doing it early. Twice as many 30-49 year-olds started saving in their 20s as opposed to their 30s. But 50-64 year-olds were only slightly more likely to have started saving in their 20s than their 30s, and Americans 65 and older were almost evenly split between starting in their 20s, 30s and 40s.

The survey was done by Princeton Survey Research Associates International (PSRAI).

Thursday, August 7, 2014

Russia Bans Agricultural Products from Western countries in response to sanctions

Russia announced Thursday August 7, 2014 that they will be banning imports of meat, fish, milk (milk products) and fruit and vegetables from the United States, the European Union, Australia, Canada and Norway.

Russian Prime Minister Dmitry Medvedev said that the ban is an order from president Vladimir Putin in their response to sanctions imposed on Russia by the West over the crisis in Ukraine that was hatched by the US.

This just shows that Russia can fight back. Russia can easily get those agricultural products from other countries in Asia and South America which is cheaper and has higher quality.

Experts said that local producers will find it hard to fill the gap left by the ban, as the nation's agricultural sector has continued to suffer from poor efficiency and shortage of funds.

Russia depends heavily on imported agricultural products, their Food and agricultural imports from the U.S. amounted to $1.3 billion last year, based on the U.S. Department of Agriculture, and in 2013 the EU's agricultural exports to Russia totaled 11.8 billion euros ($15.8 billion).


Thursday, July 31, 2014

Russia sanctions hit Europe stocks Hard

Barack Obama's tougher sanctions on Russia hit Europe stocks Hard as investors are studying the effects of it. Both the U.S. and the European Union agreed to expand sanctions on Russia last Tuesday July 29, 2014 which in my opinion is stupid for the European Union since they will lose a lot. The new sanctions targets Russian energy, defense, and finance sectors.

European Union is now restraining access to financing for state-owned banks in Russia. They will also halt on exporting specific goods and technologies to Russia to make it more difficult to develop oil resources over the longer term.

U.S. Treasury said it will ban American citizens from buying new stocks or bonds from three major Russian financial institutions, that will limit their access to U.S. capital markets. The three banks are Bank of Moscow , Russian Agricultural Bank, and VTB Bank.

What's the end game here? Well, U.S. global domination now they have gas through fracking which has health risks I think they want to take Russia markets too.

Thursday, July 24, 2014

Stocks closed in a Gain

Dow Jones    17,086.63    -26.91    (-0.16%)
S&P 500    1,987.01    +3.48    (0.18%)
Nasdaq    4,473.70    +17.68    (0.40%)

Dow close in a loss falling by 26.91 points, or 0.2% to 17,086.63 it was affected by Boeing’s disappointing revenue. S&P 500 closed with a record high 1,987.01 up by  3.48 points. The Nasdaq composite rose 17.68 points, or 0.4% to end at 4,473.70.

Apple’s income met expectations, as did Microsoft’s. Biotechnology stocks, were a bright spot, too; Puma soared 295% on trial results for a breast cancer drug. Biogen Idec rose 11% after raising its full-year profit forecast. Ariad gained 15.3%. Intuitive Surgical rose 18%, the most in five years. The maker of robotics used in surgery posted profit that surpassed forecasts. Cubist didn’t get to go along for the ride, though; it fell 4.8%. Blame weaker-than-expected quarterly revenue and several price-target cuts by analysts.

Facebook rose 4 percent in aftermarket trading to 74.05 after the company reported a profit that more than doubled in the second quarter and topped expectations.