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Stock Market / Finance in Northern America

  • Stocks May Move To The Downside Ahead Of Fed Announcement

    UNITED STATES, 2016/04/28 Following the lackluster performance in the previous session, stocks may move to the downside in early trading on Wednesday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 39 points. Early selling pressure may be generated by disappointing earnings news from Apple (AAPL), with the tech giant tumbling by 8.2 % in pre-market trading. Next the close of trading on Tuesday, Apple reported weaker than expected second quarter results amid its initial-ever drop in iPhone sales.

  • Obamas release 2015 tax returns

    UNITED STATES, 2016/04/16 President Obama and his wife, Michelle, had an effective federal gain tax rate of 18.7 % in 2015, according to tax returns released Friday. The Obamas reported adjusted gross gain of $436,065 and paid $81,472 in total federal tax. The Obamas as well paid $16,017 in Illinois national gain tax.

  • US Senators Introduce Legislation To Strengthen Oversight Of Activist Hedge Funds

    UNITED STATES, 2016/03/20 US Senators Tammy Baldwin (D-WI) and Jeff Merkley (D-OR) introduced legislation on Thursday to increase transparency and strengthen oversight of activist hedge funds. The Brokaw Act is named for a small Wisconsin town that went bankrupt next an out-of-national hedge fund closed a paper mill that had provided good jobs to the town for over 100 years. The activist hedge fund bought up the legendary Wausau Paper Company, forced out its executives and demanded short-term returns like buybacks at the expense of the company’s long-term next.

  • Canadian Stocks Are Falling As Valeant Plummets

    CANADA, 2016/03/16 The Canadian stock market is losing ground in early trade Tuesday, adding to yesterday's losses. Weakness in commodity prices is weighing on the market this morning. Mining and energy prices are under pressure as crude oil and gold prices chief lower. The healthcare sector is under the majority intense pressure this morning, due to the sharp sell-off in shares of Valeant. The company reported weaker than expected quarterly earnings and has slashed its full year profit estimate. The Bank of Japan refrained from expanding its monetary stimulus as policymakers await to see the impact of the negative interest rate introduced in January. Governor Haruhiko Kuroda and his board members decided by an 8-1 majority vote to hold its target of raising the monetary base at an annual pace of about JPY 80 trillion.

  • Philly Fed Index Remains Negative For Sixth Straight Month In February

    UNITED STATES, 2016/02/19 While the Federal Reserve Bank of Philadelphia released a statement on Thursday showing a modest increase by its index of regional manufacturing activity in the month of February, the index remained negative for the sixth consecutive month. The Philly Fed said the diffusion index for current activity rose to a negative 2.8 in February from a negative 3.5 in January, but a negative reading indicates continued weakness in business conditions. Economists had expected the index to inch up to a negative 3.0. The continued weakness in Philadelphia-area manufacturing conditions came amid a faster decline in new orders and a slowdown in increase in shipments.

  • NASDAQ Teams Up with Tel Aviv Stock Exchange to Nurture Israeli Start-Ups

    ISRAEL, 2016/02/13 The Tel Aviv Stock Exchange (TASE) and NASDAQ, the world’s second-major stock exchange, announced a joint venture on Tuesday to build a private market for Israeli startup companies before they go public. The venture, which will be based in Tel Aviv, will be run by management selected by both exchanges. It will provide Israeli startups with strategic counseling and mentoring, exclusive networking, and a private, secondary market for financing, in an effort to help small Israeli companies get the support they need to face the challenges of building a business in Israel’s difficult market.

  • Fed voices concern about global economic pressures

    UNITED STATES, 2016/01/28 The Federal Reserve sounded a note of concern Wednesday about how world pressures could affect a slowing US economy, while keeping a key interest rate unchanged. Six weeks next it raised rates from record lows, the Fed took stock of a additional perilous international picture that could alter its plans for further raising rates. Fed officials issued a statement next their new policy conference that suggested they may reduce the pace of next rate hikes if market losses and world weakness persist. But stock investors were disappointed that the Fed did not commit outright to delaying its pace of rate increases. The Dow Jones industrial average closed down about 223 points, or 1.4 %. The Dow had been up slightly before the Fed issued its statement.

  • United States has donated almost US$6 billion to Mozambique

    UNITED STATES, 2015/12/31 Over the last 30 years the United States has donated almost US$6 billion to Mozambique, said the outgoing ambassador Douglas Griffiths in a farewell letter. In the letter, the ambassador said the US wants “nothing but the best” for Mozambique, “because we firmly believe that the success of one country benefits all the others.” Referring to the all of US$6 billion, Griffiths said this all had not been provided as loans but as donations, particularly for development projects in health, education, agriculture and support to improve the business climate.

  • US Mortgage Rates Hold Below 4%

    UNITED STATES, 2015/12/26 US mortgage rates were little changed last week despite the recent Federal Reserve benchmark rate hike. The 30-year fixed-rate mortgage (FRM) averaged 3.96 % with an average 0.6 point for the week ending December 24, 2015, down from last week at the same time as it averaged 3.97 %. A year ago at this time, the 30-year FRM averaged 3.83 %.

  • What To Expect On The Fed’s Decision Day

    UNITED STATES, 2015/12/16 The Federal Reserve is set to raise rates today for the initial time in nine years. So how could the Fed’s decision affect markets and politics as the world moves into 2016? On December 15th, the Federal Open Market Committee (FOMC) began its two-day conference that will result in a widely anticipated policy decision on the central bank’s key interest rate. An increase is likely as futures markets indicate a 81.4% probability of a rate hike to 0.50%. Next years moored in the safe harbor of zero-interest rate policies sought during the throes of the 2008/2009 financial crisis, Fed Chair Janet Yellen has indicated the US economy is finally sturdy enough to set out on a new course towards normalized rates. Considering the tight correlations and interdependencies across the world economy the Fed will not set sail into a vacuum. Instead, the departure is sure to have market and political ripple effects on shores near and far.
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