Monthly Archives: December 2016

Asian shares wobble, knocked by Wall Street losses

MSCI’s broadest index of Asia-Pacific shares outside Japan was slightly higher in early trade, while Japan’s Nikkei stock index (.N225) slumped 0.6 percent. U.S. stocks, which have been on a tear since the Nov. 8 election on bets that the incoming Trump Administration will embark on growth-stimulating, inflation-stoking policies, pulled back from the record highs logged in the previous session. “There weren’t any major market-making data points coming out, and I think that’s why the markets are kind of taking a breather,” said Jennifer Vail, head of fixed income research at U.S. Bank Wealth Management in Portland, Oregon.
Source: Yahoo Finance

Wall Street loses ground after Trump rally

The Dow briefly rose to within 15 points of 20,000, a level it has never reached, but relinquished that gain and spent most of the session at a loss. U.S. stocks have rallied since the Nov. 8 election, with the Dow up 9 percent and the S&P 500 gaining 6 percent on bets that President-elect Donald Trump’s plans for deregulation and infrastructure spending will boost the economy. Some investors worry that the so-called Trump rally has made stocks expensive and are concerned that legislators may resist strong tax cuts and other policies that could widen the federal deficit.
Source: Yahoo Finance

Wall Street catches its breath after Trump rally

The Dow briefly rose to within 15 points of 20,000, the historic level it has threatened to breach for several days, but it relinquished that gain. U.S. stocks have rallied since the Nov. 8 election, with the Dow up about 9 percent and the S&P 500 6 percent on bets that President-elect Donald Trump’s plans for deregulation and infrastructure spending will boost the economy. The S&P 500 is trading at about 17 times expected 12-month earnings, well above the 10-year average of 14, according to Thomson Reuters Datastream.
Source: Yahoo Finance

U.S. home sales near 10-year high as mortgage rates rise

U.S. home resales unexpectedly rose in November, reaching their highest level in nearly 10 years, likely as buyers rushed into the market to lock in mortgage rates in anticipation of further increases in borrowing costs. The third straight monthly increase in existing home sales, reported by the National Association of Realtors on Wednesday, suggested housing would contribute to economic growth in the fourth quarter after being a drag in the previous two quarters. Existing home sales increased 0.7 percent to an annual rate of 5.61 million units last month, the highest sales pace since February 2007.
Source: Yahoo Finance

U.S. existing home sales rise to near 10-year high

U.S. home resales unexpectedly rose in November, reaching their highest level in nearly 10 years, likely as buyers rushed into the market to lock in low interest rates in anticipation of further increases in borrowing costs. The third straight monthly increase in existing home sales, reported by the National Association of Realtors on Wednesday, suggested housing would contribute to economic growth in the fourth quarter after being a drag in the previous two quarters. Existing home sales increased 0.7 percent to an annual rate of 5.61 million units last month, the highest sales pace since February 2007.
Source: Yahoo Finance

U.S. mortgage activity edges up even as rates head higher

U.S. mortgage application activity rebounded from its lowest level since January despite interest rates on 30-year fixed-rate home loans hitting their highest levels in over 2-1/2 years, Mortgage Bankers …
Source: Yahoo Finance

Dollar retreats from 14-year high, banks drag Europe shares lower

The dollar eased from 14-year highs on Wednesday, giving back some of the gains chalked up since Donald Trump’s U.S. election victory, while concerns over banks pulled European shares lower. Wall Street also looked set to open lower, according to index futures, after the Dow Jones industrial average climbed to within 25 points of the 20,000 mark on Tuesday. A widespread conviction that Trump’s policies will boost the U.S. economy has powered the dollar and Treasury yields since the Nov. 8 election pushed U.S. stocks to record highs.
Source: Yahoo Finance

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