Wall Street tumbles, spooked by growth and trade worries

Wall Street tumbles, spooked by growth and trade worries

globalMarketsNews, Market Trends, US Economy
(Reuters) - Wall Street tumbled more than 3 percent on Tuesday, led lower by bank and industrial shares, as the U.S. bond market sent unsettling signs about economic growth and investors worried anew about global trade. A prominent Federal Reserve official’s comments about the path of interest rate hikes added to the uncertainty for investors, as did setbacks for Britain’s plans to leave the European Union. The S&P 500 .SPX posted its biggest single-day percentage drop in about two months, giving back some gains from Monday and a week earlier, when the benchmark index tallied its largest weekly percentage gain in nearly seven years. The small-cap Russell 2000 dropped 4.4 percent, its biggest one-day plunge in more than seven years. Investors were focused on U.S. Treasury yields, where the benchmark 10-year yield…
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China says will hit back after U.S. proposes fresh tariffs on $200 billion in goods

China says will hit back after U.S. proposes fresh tariffs on $200 billion in goods

globalMarketsNews, marketsNews, US Economy
BEIJING/WASHINGTON (Reuters) - China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods. [caption id="attachment_3723" align="aligncenter" width="1054"] A worker helps load steel bars onto a truck at a warehouse of the Baifeng[/caption] China’s commerce ministry said on Wednesday it was “shocked” and would complain to the World Trade Organisation, but did not immediately say how it would retaliate. In a statement, it called the U.S. actions “completely unacceptable”. The foreign ministry described Washington’s threats as “typical bullying” and said China needed to counter-attack to protect its interests. “This is a fight between unilateralism and multilateralism, protectionism and free trade, might and rules,” foreign ministry spokeswoman Hua…
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S&P hits four-month high on oil, Pepsi boost

S&P hits four-month high on oil, Pepsi boost

In the News, US Economy
(Reuters) - U.S. stocks rose on Tuesday, with the S&P 500 hitting a four-month high, boosted by higher oil prices and strong results from PepsiCo. PepsiCo’s shares rose 4.3 percent after the company’s quarterly revenue and profit topped analysts’ estimates, helped by strong sales in its Frito-Lay unit. “The first major earnings report came out, and PepsiCo’s earnings beat expectations and that’s a good start for the market,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. PepsiCo helped drive a 0.61 percent gain in the consumer staples index. Rival Coca-Cola rose nearly 1 percent. The energy index was the biggest gainer among the 11 major S&P sectors, jumping 1.39 percent as oil prices rose due to growing supply outages. Shares of Exxon, Chevron and Schlumberger…
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U.S. economy slows in first quarter as consumer spending brakes sharply

U.S. economy slows in first quarter as consumer spending brakes sharply

In the News, US Economy
WASHINGTON, April 27 (Reuters) - The U.S. economy slowed in the first quarter as consumer spending grew at its weakest pace in nearly five years, but the setback is likely temporary against the backdrop of a tightening labor market and large fiscal stimulus. Gross domestic product increased at a 2.3 percent annual rate, the Commerce Department said in its snapshot of first-quarter GDP on Friday, also held back by a moderation in business spending on equipment and investment in homebuilding. The economy grew at a 2.9 percent pace in the fourth quarter. Economists polled by Reuters had forecast output rising at a 2.0 percent rate in the January-March period. The first-quarter growth pace is, however, probably not a true reflection of the economy, despite the weakness in consumer spending. First-quarter…
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2018 Market Crash Warning

2018 Market Crash Warning

About the Book, Market Trends, US Economy
This year is a very important year and it's important to know which side to be on when the stock market turns! In March 24th 2000 the stock market peaked before the the bubble burst, known as the dot.com bubble, in one of the worst market corrections in decades, some companies, such as Pets.com and Webvan, failed completely and shut down. Others, such as Cisco, whose stock declined by 86%, and Qualcomm, lost a large portion of their market capitalization but survived, and some companies, such as eBay and Amazon.com. The S&P 500 eventually bottomed out at on October 10th 2002 to 769 that was a 51% drop from the high in a matter of two and a half years. In October 11th 2007 the stock market again peaked and…
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U.S. job growth speeds up, unemployment rate falls; wages flat

U.S. job growth speeds up, unemployment rate falls; wages flat

In the News, US Economy
WASHINGTON (Reuters) - U.S. job growth accelerated in October after hurricane-related disruptions in the prior month, but a sharp retreat in annual wage gains and surge in the number of people dropping out of the work force cast a cloud over the labor market. Nonfarm payrolls increased by 261,000 jobs last month as 106,000 leisure and hospitality workers returned to work, the Labor Department said in its closely watched employment report on Friday. That was the largest gain since July 2016, but was below economists’ expectations for an increase of 310,000 jobs. Data for September was revised to show a gain of 18,000 jobs instead of a decline of 33,000 as previously reported. Some aspects of the report, however, were downbeat. Although the unemployment rate fell to near a 17-year…
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