The Weekly Bottom Line: Labor Market Mending Continues, but Risks Are Mounting
U.S. Highlights After reaching new highs early in the week, financial markets tumbled, driven by a broad sell-off in technology stocks. The S&P 500 is on track to end the week about 3% below last week’s close. The labor market...
Forward Guidance: BoC to Keep Rates Low Despite a Rebounding Economy
Expect the Bank of Canada to stay focused on economic growth rather than damage control during its policy deliberations next week. Another gain in August employment – this time more heavily weighted to full-time work – added a measure of...
Week Ahead: September Begins with a Bang!
Monday is a bank holiday in the US and Canada and marks the unofficial end of summer. Many traders will be back in the office this week after August holidays, even amid the coronavirus pandemic. Stocks were the story last...
Powell says low interest rates could last for years
Federal Reserve Chairman Jerome Powell, wearing a face mask, testifies before the House of Representatives Financial Services Committee during a hearing on oversight of the Treasury Department and Federal Reserve response to the outbreak of the coronavirus disease (COVID-19), on...
U.S. is still in a ‘very significant recession’ despite job gains, Fed’s Rosengren says
Job creation in August represents continued improvement in the U.S. economy but a full recovery won’t happen until the coronavirus pandemic is under control, Boston Federal Reserve President Eric Rosengren said Friday. Unemployment fell to 8.4% as nonfarm payrolls rose...
Disruptors PayPal and Square surpass Wall Street giants including Goldman Sachs in market cap
A remarkable changing of the guard is happening in finance. This week, the market capitalization of fintech payments firm Square exceeded that of Goldman Sachs, the 151-year-old investment bank, for the first time. Almost exactly two months earlier, PayPal surpassed Bank of America, the second biggest...
Foreign exchange: Banks deal with volatility from home
Since the global financial crisis, most FX markets have enjoyed a decade of extremely low volatility. While there have been initiatives around regulatory compliance, the market has otherwise been quiet, with volatility touching all-time lows as recently as January, exacerbated...
Stocks making the biggest moves midday: Tesla, Wayfair, Moderna & more
Niraj Shah, CEO, Wayfair Ashlee Espinal | CNBC Check out the companies making headlines in midday trading. Tesla — Tesla shares whipsawed in midday trading, trading higher by 0.5% after falling as much as 8.5% and into bear-market territory earlier...
Coronavirus crisis: China steps back from stimulus
At the height of the global financial crisis (GFC), China staved off recession by turning the dial on stimulus up to 11. This time around, with Western governments pledging trillions of dollars in state aid as coronavirus threatens to turn...
ECB Preview: Time for Inaction
This publication has been prepared by Danske Markets for information purposes only. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. Whilst reasonable care has been taken to ensure that its contents...
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