Traders warn buy side must embrace the FX Code too
Adoption has continued to increase since then, and all of the top 10 FX banks from the 2017 Euromoney survey have now signed up. But some practitioners are concerned that adherence is not consistent across the whole market and more...
US factories shift into ‘higher gear’ despite trade worries, Fed says
U.S. factories ramped up production in late April and early May despite the risk of a global trade war, but soft consumer spending kept the economy growing at a moderate rate, the Federal Reserve reported on Wednesday. In its periodic...
Your first trade for Wednesday, May 30
The “Fast Money” traders shared their first moves for the market open. Tim Seymour was a buyer of JPMorgan. Karen Finerman was a buyer of Dorian LPG. Steve Grasso was a buyer of Tesla. Guy Adami was a buyer of...
$1 a day for college? Walmart unveils a new employee perk in bid to snag workers
Walmart hopes that helping send its workers back to college will keep them with the company. The nation’s biggest private employer announced Wednesday morning, at the start of its annual shareholders meeting in Bentonville, Arkansas, that it will begin subsidizing...
AK Steel gives up Trump gains despite tariffs and Goldman believes the stock will fall further
Profitability at parts of AK Steel remains limited, according to Goldman Sachs, despite support from President Donald Trump’s aggressive tariffs on foreign steel. The bank downgraded shares to sell from neutral on Wednesday citing increased competition within its core automotive...
US first-quarter growth revised down to 2.2%
U.S. economic growth slowed slightly more than initially thought in the first quarter amid downward revisions to inventory investment and consumer spending, but income tax cuts are likely to boost activity this year. Gross domestic product increased at a 2.2...
Trade war risk stalks the global economic upturn, OECD reports
The prospect of a trade war is threatening the global growth outlook, which otherwise is on course for a 40-year low in unemployment, the OECD said on Wednesday. Global growth is set to nudge up from 3.8 percent this year...
Airline under China’s HNA Group is raising funds ahead of a planned IPO
Chinese conglomerate HNA Group’s Hong Kong Airlines is considering an initial public offering in the “short to medium term” and tapping investors to raise funds through the issue of new shares and convertible bonds, a document reviewed by Reuters shows....
Bitcoin is the market’s new fear gauge, investor says
The answers to which way the market will move next may lie in bitcoin, said Brian Stutland of Equity Armor Investments. “Bitcoin is sort of becoming the new VIX, in sort of getting ahead of credit risk in the banking...
Fed slow to raise interest rates amid political turmoil: Art Cashin
Art Cashin said with so much political turmoil around the world, the Fed will likely be slow to raise interest rates. “If you look at the Fed minutes, they were already beginning to lean a little dovish,” Cashin, managing director...
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