France Struggles to Keep Up with EU Partners
Setting the stage for a solid start to the year - data reveals manufacturing in the euro zone grew at its fastest for nearly three years in December after good business in Germany and Italy. The key indicator from research firm Markit rose to 52.7 - its best reading in 31 months - readings above 50 indicate growth. But it's not such a rosy picture in France.
Economic Indicator Roundup: 11/9/2012
There are several key economic indicators making headlines today.
The index of consumer sentiment from Thomson Reuters/University of Michigan rose to 84.9 in November from 82.6, beating expectations for a reading of 83.
Global Stock Indices Fall Before Non-Farm Payroll Data
European stock indices moved downwards on Friday, heading for a weekly loss, as investors look to February non-farm payroll figures from the U.S. for direction. Shares in Telecom Italia do a 360 degree pivot in Milan as the company announces 2013 results, scraps the dividend but delivers a more positive outlook for the future and in Paris Air France-KLM becomes one of Europe's leading gainers after reporting an uptick in February passenger numbers.
Reuters on the Road: Spandex + NASA = Big Bucks
The man behind the Morphsuit, Gregor Lawson, joins Reuters for the taxi challenge. He explains how his company AFG Media has come to make Â£12 million in sales in just four years by creating fully-body spandex suits, and how Halloween gimmicks attracted a NASA worker.
Reuters: Deutsche Fires Three New York Forex Traders
Sources are telling Reuters, Deutsche Bank has fired three New York-based currency traders, in the latest sign that a probe over alleged manipulation of foreign exchange markets is gathering steam. According to the source, Diego Moraiz, Robert Wallden and Christopher Fahy were terminated by the bank, which told trading floor staff of the development on Tuesday. The terminations come as authorities around the world, including Britain's Financial Conduct Authority and the U.S.
Global Stock Indices Mixed as European Data Disappoints
Weak European economic data tempers early enthusiasm about reassuring Federal Reserve minutes to result in a mixed trading picture on Thursday. In Frankfurt the European Central Bank says policymakers want to keep monetary policy loose and flexible; in London retailer Marks & Spencer rises sharply, then falls, as investors opt for a glass-half-empty reading of fourth-quarter sales; and in Paris LVMH rises on strong fashion and leather goods sales growth.
Super Bowl Indicator Says ‘Lose-Lose’ This Year
With the Super Bowl coming almost literally to Wall Street, there’s no better time to test drive the Super Bowl Indicator. But this year’s matchup presents troubling prospects for investors. Eagle Bay Capital founder J.C. Parets joins MoneyBeat.
Are Bullish Stock Indices Possible With A Higher US Dollar Index And Increasing Treasury Yields?
For years there has been an inverse relationship between equities and the US Dollar, but never more so than over the last five years. Weekly chart shows the graph of the SPDR S&P Depository Receipts and the Powershares DB US Dollar Bull ETF going back to late 2008 just before the worst of the financial crisis sell-off. Each time the UUP is rising the SPY is at best sluggish and at worst outright bearish.
European, Asian Indices Rise as China Rebounds
Word from International Monetary Fund chief Christine Lagarde that the institution will lift its forecast for U.S. growth helps sentiment ahead of the Christmas break. Over in China, three out of four mainland indices post gains after nine days of losses due to surging money market rates, while leading wireless services operator China Mobile Ltd.
Overseas Stock Indices Build on Recent Losses
Time to batten down the hatches? European and Asian stocks follow U.S. markets lower on Tuesday, with Japanese and Hong Kong indices notching up losses that mean they are down well over 10 percent from year-end highs, placing them firmly in "correction" territory.