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Dow Slide Continues Amid Brexit Fallout

27 June 2016

The hangover from the U.K.'s decision to exit the European Union continues to weigh on risk assets around the world Monday, with U.S. stocks opening deeply in the red and European stocks falling again.

As financial markets around the world seek stability after Friday's global selloff after a so-called Brexit vote, or vote by Britain to exit the E.U., high-level policy makers around the globe were taking steps to reassure nervous investors.

Read full article from US Today


Gold Steadies Ahead of Fed Meeting

14 Mar. 2016

Gold steadied on Monday, paring earlier gains as stock markets and the dollar gained, with moves muted ahead of closely watched policy meetings of U.S. and Japanese central banks this week.

Spot gold was little changed at $1,248.66 an ounce at 1442 GMT, off an earlier high of $1,260.71. The metal, which is highly sensitive to monetary policy and resulting currency moves, bounced to a 13-month high on Friday after the European Central Bank signaled an end to rate cuts, pushing the euro sharply higher versus the dollar.

Read full article from Reuters



U.S. Import Prices Fell 0.3% in February

11 Mar. 2016

Prices for imported goods fell last month in a sign that global economic weakness, the strong dollar and cheap oil may continue to curb overall U.S. inflation. Import prices decreased 0.3% in February from the prior month after falling a revised 1.0% in January, the Labor Department said Friday.

Import prices were down 6.1% in February from a year earlier, though that was the smallest annual drop since December 2014.

Read full article from The Wall Street Journal



European Central Bank Launches Stimulus Plan

10 Mar. 2016

The European Central Bank cut all its main interest rates, expanded its bond-buying stimulus program and offered new cheap long-term loans to banks, making an unexpectedly aggressive move to boost inflation and economic growth in the 19 countries that share the euro.

The bank's steps on most counts exceeded expectations among analysts, suggesting that it was determined to have an impact and avoid the market disappointment that occurred after its Dec. 3 meeting, when it was seen as having done less than it could have. Stock markets surged Thursday after the ECB's announcement.

Read full article from Los Angeles Times


Oil Jumps on Bullish U.S. Gasoline Draw, OPEC Speculation

09 Mar. 2016

Oil prices surged as much as 4 percent on Wednesday, with Brent back above $40 a barrel, after a big draw in U.S. gasoline convinced the market that energy demand was improving despite U.S. crude stockpiles at record highs.

Crude oil prices also rose on speculation that top producers might agree soon to an output freeze. Brent futures LCOc1 were up $1.30, or 3.2 percent, at $40.95 a barrel by 12:03 p.m. EST. U.S. crude futures CLc1 rose $1.50, or 4 percent, to $38.

The U.S. Energy Information Administration said crude stockpiles USOILC=ECI rose 3.9 million barrels to nearly 522 million barrels, as predicted by analysts in a Reuters poll.

Read full article from Reuters