US Markets riding high on Trump Sugar (SPY +0.6%) and some analysts are wondering what type of cranial pounding we can expect from the correction? (Come on, you know it gonna happen!) Short-term indicators remain bullish.
(Reuters) - Major U.S. stock indexes powered to another day of fresh records on Friday as investors bid up shares in sectors that have lagged in the month-long rally since Donald Trump's presidential election.
NEW YORK/LONDON (Reuters) - Rupert Murdoch's Twenty-First Century Fox Inc has proposed buying the 61 percent of British pay-TV firm Sky Plc it does not already own for around $14 billion, five years after a political scandal scuppered a previous bid.
(Reuters) - Coca-Cola Co said on Friday that Muhtar Kent would step aside as chief executive next year and be replaced by James Quincey, a company veteran credited with several recent changes to help the company cut its dependence on sugary drinks.
WASHINGTON (Reuters) - A U.S. agency involved in settlement talks with Volkswagen AG over its diesel emissions scandal raised concerns about nearly two dozen mobile phones destroyed or lost by the German carmaker.
(Reuters) - U.S. apparel retailer J. Crew Group Inc is taking steps to negotiate with its creditors about cutting the value of its approximately $2 billion debt load, as its struggles with falling sales, people familiar with the matter said on Friday.
(Reuters) - The U.S. Department of Transportation on Friday said it will press the auto industry to accelerate the pace of replacements for defective Takata Corp air bag inflators and signaled a likely widening of the industry's largest ever recall.
BATON ROUGE, La. (Reuters) - U.S. President-elect Donald Trump will likely ask a senior Goldman Sachs banker to coordinate economic policy across his administration, turning again to Wall Street for expertise in managing the world's largest economy, a transition official said on Friday.
WASHINGTON (Reuters) - President-elect Donald Trump is stacking his trade transition team with veterans of the U.S. steel industry's battles with China, signaling a potentially more aggressive approach to U.S. complaints of unfair Chinese subsidies for its exports and barriers to imports.
MILAN (Reuters) - The European Central Bank has rejected a request by Italy's Monte dei Paschi di Siena for more time to raise capital, a source said on Friday, a decision that piles pressure on the Rome government to bail out the lender.
As momentum feeds on itself, it appears Trumphoria is in full swing...
Donald Trump's election has fueled one of the broadest rallies in history as the number of stocks making new highs on the New York Stock Exchange climbed to the highest on a closing basis since May 2013.
Never mind that valuations are at 1929 peak levels...
Forecasting the future of currencies is a notoriously risky business. Forces may push them in a particular direction, as is currently the case with the dollar, but in the ever-changing environment of the foreign exchange market, events anywhere in the world, at any point in time, can alter their course. Nevertheless, the dollar is steadily strengthening, and it could create headaches in other parts of the world.
One of the biggest victims will be China. The Chinese yuan has been devaluing against the dollar for the past 18 months, a process that in itself leads to capital flight as investors try to flee the depreciating currency. This carries the risk of becoming a disorderly process, and China has spent a considerable share of its foreign exchange reserves trying to manage it. A strengthening dollar will put more pressure on China to burn through its remaining reserves even faster, eating away at the safety net it has built up over the past two decades.
Still, the countries most at risk from a strong dollar are those with hefty dollar-denominated debts. Ample foreign exchange reserves can help offset this problem, since they can be used to prop up national currencies or pay off corporate debts in a pinch. On the downside, a current account deficit (which arises when a country spends more abroad in its day-to-day activities than it receives) would exacerb ...
Steve Barrow, currency and fixed-income analyst at Standard Bank, said in a Nov. 30th research note "whatever fears might exist in some quarters about Trump's win, some sort of animal spirits might have been spurred."
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