Category: Live Market News

Sales chart
January 18, 2024 BY Elizabeth Anderson

US retail sales for December 2023 higher than expected

The December increase bettered November retail sales by 0.3%, confirming the resilience of American shoppers while bolstering the economy. The numbers also allay fears of stinted economic growth, starting the new year on a positive financial footing. Out of the 13 categories monitored, nine experienced sales increases compared to November 2023. Clothing, fashion accessories, and…

Read more
China housing market
January 12, 2024 BY Simon Mugo

China Is Looking To Coordinate Housing Sector Financing Better

The two regulatory bodies have declared their intention to establish a system that will more effectively address the financing requirements of real estate projects. This initiative is geared towards fostering stable growth within the housing sector, as detailed in a joint statement they released last Friday. Since mid-2021, China's real estate industry has been struggling…

Read more
January 12, 2024 BY Simon Mugo

Citigroup Reports a $1.8Bn Q4 2023 Loss on Multiple Charges

Fraser has initiated a multi-year plan aimed at reducing administrative complexity, enhancing profitability, and improving the performance of the company's stock, which has historically underperformed compared to its counterparts. For the quarter ending December 31, Citigroup reported a loss of $1.16 per share. This result was negatively impacted by $3.8 billion in charges and reserves,…

Read more
January 12, 2024 BY Elizabeth Anderson

European Central Bank suggests rate cuts could come soon

The reductions come at a time when tensions between ECB officials and the market are high. Investors, however, continue to predict rate cuts as soon as March/April this year; policymakers are opting for what they term a more realistic timeframe of mid-year. Market and authority attention will now be fixed on Chief Economist Philip Lane,…

Read more
January 05, 2024 BY Simon Mugo

Investors Park a Record $123 Billion in Cash To Start the Year Off

According to BofA, this financial manoeuvre, typically observed in the first week of January, comes on the heels of 2023's unprecedented annual cash inflow totalling $1.3 trillion. Such movements highlight a trend where investors, prioritising security and influenced by increased interest rates, have shifted away from stocks and towards more stable assets. Drawing from EPFR's…

Read more
January 05, 2024 BY Elizabeth Anderson

US Jobs report and nonfarm payrolls data outlook

The dollar set itself on track for its longest winning streak since September 2023 and the 10-year US Treasury yield rose one basis point at 4.01%. The US data due to be released later today will contain information regarding rate cuts from the Federal Reserve, with market sentiment predicting good nonfarm payrolls data. Don’t miss…

Read more
January 02, 2024 BY Simon Mugo

BYD Beats Tesla’s Production Figures for the Second Year Running

While Tesla reported producing 1.35 million cars in the first three quarters of 2023, BYD's production included battery-powered and hybrid models, predominantly in a lower price range than Tesla's solely battery-powered vehicles. Despite a slight miss in annual sales against expectations, BYD's figures reflect a significant presence in the electric vehicle market, with a diverse…

Read more
December 11, 2023 BY Elizabeth Anderson

Macy's department store considers $5.8bn investment offer

At the close of Friday 8th December’s market, Macy’s shares were trading at $17.39. The investing group, however, have offered $21 per share, higher than current prices but far lower than 2015 when the store’s shares hit $70. A spokesperson from Macy’s noted the slowdown of in-store spending, and the rise of online purchases which…

Read more
JP Morgan Chase & Co.
December 06, 2023 BY Simon Mugo

J.P. Morgan Released Its 2024 Long-Term Market Assumptions

Considering the evolving macroeconomic environment, the outlook projects a 7.0% annual return for a standard 60/40 stock-bond portfolio. Introducing a 25% allocation in alternative assets could enhance this forecast by 60 basis points and improve the Sharpe ratio by around 12%. Factors like automation and AI's impact on productivity, energy transition, and new technologies are…

Read more