Business and Finance News – Premier Partners Group

US markets continue see-saw, Dow jumps 4 per cent

Terry Stevens — Fri, 12 Aug 2011 06:53:56 +0000

Premier Partners Group: All US markets rose sharply during trade on Thursday, as a jobless report provided better than expected results. The figures fell below 400,000 for the first time since April of 2011. Investors reacted positively, with all markets rising more than 4%, with the NASDAQ leading the way, up 4.7%. Analysts are anxiously watching how the markets will finish the week, after the Dow dropped by 600 points Monday, rose 429 points Tuesday, Fell again 500 points Wednesday, before last nights gain of 423 points.

Asian markets were generally mixed during early trade Friday, with Hong Kong and Australia up slightly, and Korea and the Nikkei down.
Investors in Asia are still nervous about the US economy, and it’s impact on markets throughout the region.

US markets slump again, investors drive gold to record highs

Terry Stevens — Thu, 11 Aug 2011 06:27:10 +0000

Premier Partners Group: US markets suffered another day of wild swings during trade Wednesday, on fears about European debt issues and uncertainty in the US economy. France’s banking sector was under threat, with financials in Europe all sharply down, after fears emerged that France could be the next economy to be downgraded from its AAA rating. The Dow closed 519 points down, a drop of 4.6%, whilst the S&P500 and the NASDAQ both fell more than 4%.

Asian markets followed suit in early trade Thursday, although they were off the lows reached in early trade, with Korea and Australian indices in positive territory. There now appears to be value in the Asian markets, with investors picking up strong performing stocks at what they see as bargain prices.

In other news in the US, Apple exceeded Exxon as the most valuable company in America, with a figure of $337 billion. Exxon had held the top spot since 2005.

Investors again flocked to the haven of gold, with prices topping $1800 an ounce for the first time. There seems to be no stopping the gold run, and while equities are so jittery, analysts expect the price to reach new highs continually over the next few weeks.

US markets surge after FOMC statement, best rise for two years

Terry Stevens — Wed, 10 Aug 2011 06:19:41 +0000

Premier Partners Group: In a move aimed at stabilizing the US economy, the FOMC agreed to keep US interest rates low until 2013 yesterday. Markets traded with extreme volatility Tuesday, bouncing up sharply in early trade, before declining immediately after the announcement, with the Dow being 2% down in the immediate aftermath of the statement. Markets then rallied towards the bell, with the Dow finishing 4% higher. The NASDAQ enjoyed a roller-coaster days trade, eventually ending up more than 5%, after wild swings during the trade. Overall, the US indices enjoyed their biggest days rise in the last 30 months. Investors now expected a return to buying of equities in the short-term.

Asian markets rallied strongly in early trade Wednesday, buoyed by events in the US. The Hang Seng rose more than 3%, with the ASX200 up almost the same. Investors in Asia were also heartened by encouraging data out of China, with the trade surplus increasing on impressive export numbers.
Oil prices gained slightly, cutting the losses of the last few days, while gold was trading at around $1750 an ounce.

Dow plunges, suffers 6th largest loss

Terry Stevens — Tue, 09 Aug 2011 06:53:24 +0000

Premier Partners Group: US markets plunged during trade on Monday, as investors continued their sell-offs. Wall street has now seen 15 per cent wiped of stock values in the last two weeks. Selling began on the opening bell, after the downgrade form the S&P, with the Dow dropping 250 points within minutes.The NASDAQ suffer more losses, falling almost 7 per cent in Monday’s session.

The losses continued into Europe on Monday, with all markets sharply lower. The FTSE fell more than 3 per cent while the DAX lost 5 per cent.

Asian markets followed suit in early trade Tuesday, with the Hang Seng and the KOSPI being 6 per cent down at one point, but rallied late in the day to finish 2.5 per cent and 3 per cent respectively.
Oil prices continued their recent falls, dropping to $79 a barrel, while gold prices saw new record highs, hitting $1750 an ounce. The Swiss Franc also acted as a safety retreat, rising steadily against the US dollar.

US downgraded by S&P, Treasury criticizes move

Terry Stevens — Mon, 08 Aug 2011 06:48:51 +0000

Premier Partners Group: The rating agency Standard and Poor’s downgraded the US late Friday, from AAA to AA+. This is the first time in history that the US has been downgraded, with the S&P stating that the outlook for the worlds largest economy is negative, with another possible downgrade expected in the next two years. Friday’s trade on the US markets was extremely volatile, with the Dow swinging wildly before finishing slightly up.

Asian markets reacted negatively during trade today, with all indices sharply lower. The Hang Seng and KOSPI fell around 4%, with the ASX 200 down almost 3% and the Nikkei lower by 2.2%. Analysts in Asia repeated earlier claims that the economy in the region continues to be strong, and expect stocks to bounce back this week. In fact, some analysts are predicting that Asia will attract global inflows of capital, as investors seek strong markets and better returns in the short-term.

Oil prices fell after the S&P move, dropping to as low as $83.18 during electronic trading with gold prices moving in the opposite direction, topping $1718 dollars an ounce.

US stacks hammered in worst day for 3 years

Terry Stevens — Fri, 05 Aug 2011 06:20:01 +0000

Premier Partners Group: Uncertainty hit Wall Street with a vengeance Thursday, as US indices suffered their worst days trading since December of 2008. The NASDAQ fell more than 5% after a late rush of selling before the bell, with the S&P500 tumbling 4.8%. New fears of a recession gripped Wall Street, with investors worried about the real threat of a major global meltdown. The DJIA suffered its ninth worst decline in a single day, as news emerged that Spain and Italy could now be next in line for sovereign debt issues.

Markets in Asia continued the nosedive in early trade Friday, with all indices taking heavy losses. The Hang Seng and the ASX200 fell almost 5% and 4% respectively, with the Nikkei down about 3.6%. Some Asian analysts announced that the region was still strong, and today’s sell-off offered some excellent buying opportunities.

Oil prices dipped to around $86 a barrel, with fears that a global slowdown will affect demand for crude oil. Gold prices retreated slightly from it’s all time high earlier in the week.

US markets break losing streak, Asia stocks do not follow suit

Terry Stevens — Thu, 04 Aug 2011 06:26:04 +0000

Premier Partners Group: US stocks showed a slight gain Wednesday, ending an eight day downward streak and averting the Dow from surpassing the worst run since 1978. Analysts are predicting that the US may consider a further round of stimulus, in the shape of QE3.

In other news, the Bank of Japan took the drastic step of curbing the strength of the Japanese Yen, a move which caused the US greenback to rise 3% against the Yen. The Nikkei surged in early trade Thursday after the announcement, clawing back losses from the previous three days. All other Asian indices failed to follow suit though, with most Asian bourses showing slight falls during trade today.

Debt vote ratified, stocks plummet worldwide

Terry Stevens — Wed, 03 Aug 2011 06:45:38 +0000

Premier Partners Group: US lawmakers approved the vote on debt yesterday, and then watch markets react negatively worldwide to the news. US indices posted the longest losing run since the heart of the debt crisis in 2008, seeing market negativity for eight straight days.
The NASDAQ dropped by 2.75% in Tuesday’s session, while the S&P 500 dipped more than 2.5%, its worse day since August of 2010.
Investors sought to sell throughout the day, bringing the longest losing sequence since October 2008.
Asian markets continued the sell-off in early trade Wednesday, with all major indices taking a battering. Japan, Hong Kong, Korea and Australian markets all dropped by at least 2%, as investors dumped equities and sought the safe haven of gold. The precious metal saw another all-time high, hitting $1662 an ounce.

Congress approves debt vote, markets and commodities dip

Terry Stevens — Tue, 02 Aug 2011 06:32:21 +0000

Premier Partners Group: The House of Representatives approved the debt bill on Monday, a move highly likely to avert a default in the US. The vote was carries by 269 against 161 votes, as the bill now heads for the Senate to be ratified.
After initial gains as the markets opened in the US Monday, there was a downward run as all indices finished lower, with the NASDAQ finishing almost 0.5% down.
Asian markets followed suit during early trade Tuesday, on the back of a weak US finish, but also on fears that US manufacturing was slowing. The Nikkei and the ASX200 fell more than 1%, with the KOSPI diving by 2.2%.
Oil prices were also lower Tuesday, steadying at below $95 a barrel, as gold rose slightly during trade Tuesday. Investors are still holding off after the weak manufacturing data figures indicated a slowdown.

Deal reached on US debt ceiling, Asian markets rally strongly

Terry Stevens — Mon, 01 Aug 2011 06:26:28 +0000

Premier Partners Group: President Obama finally announced agreement on raising the US debt ceiling requirements late Sunday, after weeks of wrangling. Details of the framework include $1 trillion increase in the debt ceiling, in addition to a $1 trillion cut in spending. The move still needs to be approved by Congress, but progress is now expected, although some analysts predicted a volatile days trading in the US on Monday.

Asian markets welcomed the news as all indices were broadly up. The Hang Seng, ASX 200 and the KOSPI were all up around 2%, while the Nikkei was up around 1.5%. The agreement also had a positive impact on the Dow futures market, seeing a rise of more than 1.5%. There was a feeling of relief amongst global traders, who said that as long as the deal is ratified by Congress, we could expect improvement in the next few weeks in global indices.