Workers see their paychecks get smaller as inflation continues to rise
While the rest of the economy pointed higher in July, American workers took a step backwards. Hourly and weekly earnings languished when factoring in the rise in cost of living, according to figures the Labor Department released Friday. Average weekly...
UK regulation: Stors – the never-ending story
The Financial Conduct Authority just can’t quite seem to be the nasty cop, even when it has every justification. It’s always fun to return to the topic of Suspicious Transaction and Order Reports, or Stors. And sure enough, the FCA...
Australia & New Zealand Weekly: RBA Lowers Inflation Forecasts to Reflect “One-off” Effects
Week beginning 13 August 2018 RBA lowers inflation forecasts to reflect “one-off” effects. RBA: RBA Governor Lowe Semiannual Testimony, Assistant Governor Ellis speaks. Australia: Westpac-MI Consumer Sentiment, wage price index, employment, NAB business survey. NZ: REINZ house prices and sales....
Week Ahead – Pound Looks to UK Data to Halt Slide; US Retail Sales and Aussie Jobs Coming Up Too
Economic releases will heat up in the coming week with monthly data on inflation, employment and retail sales certain to keep some traders busy as many head off for their summer holidays. Central bank meetings will take a backseat, though...
There are big doubts about how Musk will pull off the Tesla buyout, but Morgan Stanley may have found a way
Morgan Stanley is telling its clients there might a way to get funding for Elon Musk’s plan to take Tesla private. “A Tesla LBO does not appear to be feasible, in our view, even with less than $10bn of incremental...
Your first trade for Friday, August 10
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of Intel Karen Finerman was a buyer of Lowe’s Dan Nathan was a buyer of Twitter Guy Adami was a buyer of Ralph...
Dollar, Yen and Swiss Franc Surge as Turkish Crisis Prompts Flight to Safety
Dollar, Yen and Swiss Franc are trading as the strongest ones today as supported by solid safe haven flow. The free fall in Turkish Lira raised concerns of contagion to Eurozone financial system. Such worries sends the Euro broadly lower,...
Goldman gives up on negative AMD call, upgrades chipmaker after more than 80% rally this year
Wall Street rarely talks about its mistakes, but Goldman Sachs is now admitting it was wrong with its pessimistic view of AMD shares. The firm raised its rating to neutral from sell for the chipmaker’s stock, predicting big market share...
Core inflation reading jumps the most since 2008
U.S. consumer prices rose in July and the underlying trend continued to strengthen, pointing to a steady increase in inflation pressures that keeps the Federal Reserve on track to gradually raise interest rates. The Labor Department said on Friday its...
Campbell Soup downgraded at JP Morgan: ‘We see a sale as an unlikely outcome’
J.P. Morgan Chase downgraded Campbell Soup shares to underweight Friday, arguing that the food company will be hard-pressed to attract a buyer should board leadership elect to pursue a sale. While J.P. Morgan’s Ken Goldman agreed with a growing chorus...
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