18 June

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Fed’s Taper Timing Moves Into Focus After Dot-Plot Surprise By Bloomberg

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(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. The Federal Reserve made some big headlines this week, but for a lot of observers they buried the news. Investors have wondered for months when it would begin scaling back its massive asset purchases. When Chair Jerome Powell disclosed Wednesday the taper debate was getting underway, the announcement was overshadowed by the surprise that officials had pulled forward their expected timing and pace of interest-rate increases. Attention a day later turned back to the timing of tapering, alongside confusion over why the...

18 June

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FTSE tumbles in global equity rout, GBP falls as retail sales disappoint By Investing.com

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Key Points FTSE 100 closing price of 7014.28, -1.95% Blue chip index has worst day since May 11th GBP falls as retail sales miss estimates USD continues upward trajectory Oil steady as WTI holds $70 Cryptos fall, Bitcoin hits 5-day low By Samuel Indyk Investing.com – The FTSE 100 finished the week with its worst day since 11th May as equity markets around the world came under selling pressure. There was widespread selling across the sectors as markets continue to react to Wednesday’s Federal Reserve interest rate decision. The central bank brought forward their view for...

18 June

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U.K. shares lower at close of trade; Investing.com United Kingdom 100 down 1.98% By Investing.com

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Investing.com – U.K. equities were lower at the close on Friday, as losses in the Automobiles & Parts, Oil & Gas Producers and General Industrial sectors propelled shares lower. At the close in London, the Investing.com United Kingdom 100 fell 1.98%. The biggest gainers of the session on the Investing.com United Kingdom 100 were Fresnillo PLC (LON:FRES), which rose 2.26% or 18.20 points to trade at 823.40 at the close. Auto Trader Group Plc (LON:AUTOA) added 0.45% or 2.80 points to end at 631.40 and NK Rosneft PAO DRC (LON:ROSNq)...

18 June

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Facebook Named Top Pick at Morgan Stanley By Investing.com

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By Christiana Sciaudone Investing.com -- Facebook (NASDAQ:FB) was named a top pick among large cap social media stocks by Morgan Stanley (NYSE:MS).Shares nonetheless dropped more than 1%. The company's investments and monetization efforts offset any near-term engagement drop-offs as the pandemic nears an end, the firm said, according to CNBC. “We remain most positive on FB within the large cap social media names as we see their leading ROI, product innovation, and monetization call options (Reels, Marketplace, Shopping, etc) enabling them to navigate through difficult near-term engagement headwinds,” the firm said. Morgan...

18 June

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Oil Majors Fall Amid Strengthening Dollar By Investing.com

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By Dhirendra Tripathi Investing.com – Shares of integrated oil companies as well as standalone refiners and marketers fell Friday as the dollar strengthened and so did crude prices even though other commodities fell. The dollar Index, which tracks the greenback against a basket of six other currencies, is on course for the largest weekly gain since September. A rising dollar makes oil more expensive in other currencies, curbing demand. Chevron (NYSE:CVX), BP (NYSE:BP) and Marathon Petroleum (NYSE:MPC) fell 2% each and Exxon Mobil (NYSE:XOM) was 1.5% lower. Royal...

18 June

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Tight U.S. Housing Market Uncoils With Sellers Ready to Cash Out By Bloomberg

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(Bloomberg) -- Prospective home sellers who sat tight as U.S. prices climbed higher and faster than ever during the pandemic are finally emerging to cash out, a step toward easing a dire shortage in the frenzied housing market. The number of U.S. homes for sale climbed 6.7% in early June from the same weekly period in May, according to Haus, an investment platform for homebuyers. That was the biggest increase since Covid-19 lockdowns took hold last year. Listings rose in 54 of the 100 metropolitan areas measured, including the regions around Philadelphia, New York, Boston, Detroit,...

18 June

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Bullard Says High Inflation May Call for Fed Liftoff Next Year By Bloomberg

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(Bloomberg) -- It may be appropriate for the Federal Reserve to begin raising interest rates next year given a forecast for inflation above the U.S. central bank’s 2% target, St. Louis Fed President James Bullard said. “I put us starting in late 2022,” Bullard said Friday during a TV interview on CNBC, referring to interest-rate projections published Wednesday by the U.S. central bank after a two-day policy meeting. “But you do have to have the idea that these are related to what the forecast is. So, my forecast said 3% inflation in 2021 -- core PCE...

18 June

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Global carbon price floor would limit global warming – IMF staff By Reuters

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By Andrea Shalal WASHINGTON (Reuters) - An agreement by some or all of the Group of 20 countries on a flexible global carbon price floor would help limit global warning to 1.5 to 2 degrees Celsius, the International Monetary Fund said in a new staff paper released Friday. Such an agreement would cover a big percentage of global carbon dioxide emissions, marking a major step toward needed reductions in greenhouse gases, IMF Managing Director Kristalina Georgieva told an event hosted by the Brookings Institution. "To help save the planet we must work together to prevent a...

18 June

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EU loses bid for speedier AstraZeneca vaccine deliveries By Reuters

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By Francesco Guarascio and Alistair Smout BRUSSELS/LONDON (Reuters) -AstraZeneca will have to deliver fewer COVID-19 vaccines to the European Union than the bloc had hoped after Brussels lost its bid to speed up deliveries on Friday, in the first of its legal actions against the drugmaker. AstraZeneca (NASDAQ:AZN) said that the EU had lost its legal case, but European Commission President Ursula von der Leyen said the court ruling supported its view that the Anglo-Swedish pharmaceutical giant had failed to honour its commitments. The row plunged the EU into crisis earlier this year as states scrambled...

18 June

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Nvidia Extends Gains After BofA Raises Price Target By Investing.com

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By Dhirendra Tripathi Investing.com – Nvidia (NASDAQ:NVDA) shares extended the weeks’ gains by another 3% Friday as the chip maker attracted another price target increase, this time from BofA. Analysts are bullish on chip makers, and particularly Nvidia, as companies and individuals adjust to a hybrid work-personal life environment with surging demand for laptops, mobile devices, cloud services and data centers. BofA (NYSE:BAC) analyst Vivek Arya raised the target to $900, a 17% upside from the current level of $769.57. He reiterated his buy rating on the stock. Arya’s target price is a Street high,...

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Fed’s Taper Timing Moves Into Focus After Dot-Plot Surprise By Bloomberg

FTSE tumbles in global equity rout, GBP falls as retail sales disappoint By Investing.com

U.K. shares lower at close of trade; Investing.com United Kingdom 100 down 1.98% By Investing.com

Facebook Named Top Pick at Morgan Stanley By Investing.com

Oil Majors Fall Amid Strengthening Dollar By Investing.com

Tight U.S. Housing Market Uncoils With Sellers Ready to Cash Out By Bloomberg

Bullard Says High Inflation May Call for Fed Liftoff Next Year By Bloomberg

Global carbon price floor would limit global warming – IMF staff By Reuters

EU loses bid for speedier AstraZeneca vaccine deliveries By Reuters

Nvidia Extends Gains After BofA Raises Price Target By Investing.com

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