Wednesday 12th February 2020
|Text too small?|
U.S. stocks faded after the Federal Trade Commission asked some of America’s biggest tech companies for information about acquisitions that may have eliminated new competitors. Ten-year Treasury yields rose, while the dollar dropped for the first time in five sessions.
The S&P 500 Index gave up most of the Tuesday session’s gains after the FTC news, with Facebook Inc. and Microsoft Corp. among the decliners. The Dow Jones Industrial Average sank as Verizon Communications Inc. slipped following court approval of Sprint’s tie-up with T-Mobile.
Investors had been more bullish lately despite the coronavirus outbreak, signaling some confidence that central banks could ease policy in the event growth slows down. In remarks to Congress Tuesday, Federal Reserve Chairman Jerome Powell, while positive about the American economic outlook, said the central bank is keeping a close eye on fallout from the epidemic, which continues to disrupt travel and trade.
“With fundamentals strong, a robust employment situation and inflation on track, Powell’s cautiously optimistic stance isn’t too surprising, especially since coronavirus fears and trade tensions are at bay,” said Mike Loewengart, vice president of investment strategy at E-Trade Financial. “What remains to be seen is the lasting effect of the coronavirus on global growth, which is already tepid.”
Oil bounced back from Monday’s swoon; gold fell. Bitcoin surged back above $10,000. European and Asian equity benchmarks closed higher.
No comments yet
Government package for commercial leases too little, too late
Concerns over Government’s intervention in commercial leases
Development Commitment to Bowen Campus Stage Two
Vista Group International Limited - Update on the impacts of COVID-19
AFT secures Maxigesic IV® distribution in four Western European countries and reports Australasian market share gains in COVID-19 medicines
Investore Property Limited (Investore) today announced its financial results for the twelve months ended 31 March 2020 (FY20).
Rabobank GDT Analysis - Event 261
SkyCity Entertainment Group Limited - Update on COVID-19 Impacts and Recent Trading
ANZ announces sale of UDC Finance
Foley Wines Limited Announces Harvest Result, Earnings Outlook and Development in Martinborough