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Vol. 13 - No. 86
Tuesday, March 28th, 2017
January 10, 2011

Stock Markets

Generated on Tuesday, March 28, 2017 02:40 PM

Barring China, most Asian markets slip ahead of US President-elect Donald Trump's inauguration

Published: Friday, January 20, 2017 12:21 AM

This app is designed solely to monitor the stock market's reaction to what Trump saysMost Asian stock market indices declined on Friday (20 January) but the Shanghai Composite was up 0.64% at 3,121.02 as of 5.30am GMT. While investors in China were upbeat amid positive GDP data, elsewhere in Asia, investors were cautious ahead of US President-elect Donald Trump's inauguration.


For stock performance under Trump, don't look to prior transitions

Published: Friday, January 20, 2017 12:20 AM

A poster is displayed on the floor NYSE the morning after the U.S. presidential election in New YorkAs he is sworn in as the 45th U.S. president on Friday, Donald Trump will mark one of the best performances for the American stock market for any presidential transition period of the modern era. For guidance, investors need only recall the oscillations under the outgoing administration. Democratic President Barack Obama's transition period, which came amid the throes of the 2008 financial crisis, also overlapped a 15.5 percent fall for the S&P 500 from his election to the day of his inauguration.


For stock performance under Trump, don't look to prior transitions

Published: Friday, January 20, 2017 12:19 AM

Traders work on the floor of the New York Stock Exchange in Manhattan, New York CityBy Lewis Krauskopf and Chuck Mikolajczak NEW YORK (Reuters) - As he is sworn in as the 45th U.S. president on Friday, Donald Trump will mark one of the best performances for the American stock market for any presidential transition period of the modern era. For guidance, investors need only recall the oscillations under the outgoing administration. Democratic President Barack Obama's transition period, which came amid the throes of the 2008 financial crisis, also overlapped a 15.5 percent fall for the S&P 500 from his election to the day of his inauguration.


For stock performance under Trump, don't look to prior transitions

Published: Friday, January 20, 2017 12:14 AM

Supporters of U.S. President-elect Donald Trump attend an Inaugural Concert at the Lincoln Memorial at the National Mall in Washington, U.S.By Lewis Krauskopf and Chuck Mikolajczak NEW YORK (Reuters) - As he is sworn in as the 45th U.S. president on Friday, Donald Trump will mark one of the best performances for the American stock market for any presidential transition period of the modern era. For guidance, investors need only recall the oscillations under the outgoing administration. Democratic President Barack Obama's transition period, which came amid the throes of the 2008 financial crisis, also overlapped a 15.5 percent fall for the S&P 500 from his election to the day of his inauguration.


DIARY-Hong Kong corporate earnings week ahead

Published: Thursday, January 19, 2017 11:00 PM

Jan 20 (Reuters) - Diary of Hong Kong (.HSI) corporate earnings for the week ahead HONG KONG EARNINGS Start Date Start Time(GMT) RIC Company Event Name 26-Jan-2017 NTS 0101.HK Hang Lung Properties Ltd Full Year 2016 Hang Lung Properties Ltd Earnings Release ** All times are listed in AMC - 'After market close', or BMO - 'Before market opens', or DBH - 'During businesshours', or NTS - 'No time scheduled'** This Diary does not provide the EPS estimate figures. EPS figures can be retrieved from Eikon. ...

Nason, former Treasury official, being vetted for Fed role - sources

Published: Thursday, January 19, 2017 08:29 PM

Former Assistant Secretary for Financial Institutions, U.S. Department of the Treasury, Nason speaks at the 2009 Milken Institute Global Conference in Beverly HillsBy Patrick Rucker and Olivia Oran WASHINGTON/NEW YORK (Reuters) - David Nason, a General Electric executive and former Treasury Department official, is the front runner to become the Federal Reserve's top Wall Street regulator under President-elect Donald Trump, sources familiar with the screening said on Thursday. Nason leads GE's Energy Financial Services division, which funds worldwide energy development, mostly from thermal and renewable sources.


Nason, former Treasury official, being vetted for Fed role: sources

Published: Thursday, January 19, 2017 08:29 PM

Former Assistant Secretary for Financial Institutions, U.S. Department of the Treasury, Nason speaks at the 2009 Milken Institute Global Conference in Beverly HillsBy Patrick Rucker and Olivia Oran WASHINGTON/NEW YORK (Reuters) - David Nason, a General Electric executive and former Treasury Department official, is the front runner to become the Federal Reserve's top Wall Street regulator under President-elect Donald Trump, sources familiar with the screening said on Thursday. Nason leads GE's Energy Financial Services division, which funds worldwide energy development, mostly from thermal and renewable sources.


Twitter crosses enemy lines in search of new friends

Published: Thursday, January 19, 2017 06:44 PM

Twitter crosses enemy lines in search of new friendsTwitter has joined Instagram — only six years late to the game.  Unfortunately for Twitter, being slow moving isn't new to the platform that has struggled with product innovation and user growth. But it's a new year for Twitter, and the company is on a kick to grow, especially in live video and on its core app. SEE ALSO: 'Everyone wants us to win' — Twitter's marketing chief on the company's future The move to leverage Instagram's 600 million monthly active users to grow its base of 317 million comes just days after Twitter cut its losses by converting its Vine app from a social community to a camera and by selling off Fabric, its developer platform, to Google.  Clearly, marketing Twitter itself is still a priority.  About a year ago, Twitter hired Leslie Berland, an executive at American Express, as its first-ever chief marketing officer. She has helped oversee a brand marketing push, under the tagline "What's happening," that has involved billboards and other outdoor ads.  In fact, the ads in the Wall Street subway station in New York City match what Twitter posted on Instagram Thursday.  Twitter is what’s happening in the world. Today we bring it out INTO the world. pic.twitter.com/Yyd5vXvSJw — Twitter NYC (@TwitterNYC) October 10, 2016 "Questions and answers, statements and trends - it’s happening right now on Twitter all around the world," Berland wrote in a blog post about the campaign. The launch drew a mix of congratulations and confusion on Twitter.  Kevin Weil, who flew the coop at Twitter as head of product in February 2015 to join Instagram in the same role, referred to the move as "cool" and suggested to follow it. He did. Cool to see @twitter active on Instagram for the first time! Open IG and follow them. While you're at it, follow @instagram on Twitter too  — Kevin Weil (@kevinweil) January 19, 2017 Others weren't so impressed. @kevinweil @Twitter @instagram oh wow I didn't know it was possible to be bad at Instagram but then I saw this pic.twitter.com/go16BeSM6C — Sara Mauskopf (@sm) January 19, 2017 As to what you'll see next, a Twitter spokesperson offered this: "You’ll have to wait and see! Follow us!" BONUS: Jimmy Fallon's Chris Rock impression at the Golden Globes was a 'no' for Twitter


IBM revenue fall dims upbeat profit forecast

Published: Thursday, January 19, 2017 05:59 PM

FILE PHOTO - People walk past an IBM logo during the Mobile World Congress in Barcelona, SpainInternational Business Machines Corp reported its 19th straight quarter of declining revenue, but forecast full-year earnings above Wall Street estimates due to growth in newer areas such as cloud-based services and analytics. CFRA Research analyst David Holt said the company's results still raised questions as to when revenue would grow. "The 800-pound gorilla in the room is the overall inflection point towards revenue growth.


IBM revenue fall dims upbeat profit forecast

Published: Thursday, January 19, 2017 05:48 PM

FILE PHOTO - A woman passes by the IBM offices in New YorkInternational Business Machines Corp reported its 19th straight quarter of declining revenue, but forecast full-year earnings above Wall Street estimates due to growth in newer areas such as cloud-based services and analytics. CFRA Research analyst David Holt said the company's results still raised questions as to when revenue would grow. "The 800-pound gorilla in the room is the overall inflection point towards revenue growth.


IBM revenue fall dims upbeat profit forecast

Published: Thursday, January 19, 2017 05:46 PM

FILE PHOTO - A woman passes by the IBM offices in New YorkInternational Business Machines Corp reported its 19th straight quarter of declining revenue, but forecast full-year earnings above Wall Street estimates due to growth in newer areas such as cloud-based services and analytics. CFRA Research analyst David Holt said the company's results still raised questions as to when revenue would grow. "The 800-pound gorilla in the room is the overall inflection point towards revenue growth.


Dollar, bond yields up on strong U.S. data; Wall St. dips

Published: Thursday, January 19, 2017 05:28 PM

A trader works on the floor of the New York Stock Exchange in Manhattan, New York CityBy Sinead Carew NEW YORK (Reuters) - The dollar and U.S. Treasury yields gained on Thursday after a batch of solid economic data, while Wall Street indexes slipped as investors held back a day ahead of the inauguration of President-elect Donald Trump. Oil futures rallied from one-week lows after the International Energy Agency said crude markets were tightening. The S&P 500's energy index , however, traded lower.


Wall Street falls as investors ready for Trump's inauguration

Published: Thursday, January 19, 2017 03:46 PM

A trader works on the floor of the NYSE in New YorkU.S. stocks fell on Thursday, continuing to pull back from the post-election rally, on investor caution ahead of Donald Trump's inauguration as president on Friday. The S&P 500 is up 5.8 percent since the vote. The rally in stocks since Trump's election has slowed in recent weeks as investors look for more details on his policies.


Dollar, bond yields up on strong U.S. data; Wall St. dips

Published: Thursday, January 19, 2017 03:39 PM

A general view of the New York Stock Exchange in Manhattan, New York CityBy Sinead Carew NEW YORK (Reuters) - The dollar and U.S. Treasury yields gained on Thursday after a batch of solid economic data, while Wall Street indexes slipped as investors held back a day ahead of the inauguration of President-elect Donald Trump. Oil futures rallied from one-week lows after the International Energy Agency said crude markets were tightening. The S&P 500's energy index , however, traded lower.


Dollar, bond yields up on strong U.S. data; Wall Street dips

Published: Thursday, January 19, 2017 03:37 PM

A trader works on the floor of the New York Stock Exchange in Manhattan, New York CityBy Sinead Carew NEW YORK (Reuters) - The dollar and U.S. Treasury yields gained on Thursday after a batch of solid economic data, while Wall Street indexes slipped as investors held back a day ahead of the inauguration of President-elect Donald Trump. Oil futures rallied from one-week lows after the International Energy Agency said crude markets were tightening. The S&P 500's energy index , however, traded lower.


U.S. Treasury nominee Mnuchin hammered over offshore tax havens

Published: Thursday, January 19, 2017 02:23 PM

Steven Mnuchin testifies on his nomination to be Treasury secretary in WashingtonBy David Lawder WASHINGTON (Reuters) - U.S. Treasury Secretary nominee Steven Mnuchin said on Thursday he would work to eliminate the need for offshore tax havens, as Democratic senators accused the Wall Street veteran of using such vehicles to shelter hedge fund money from the government. In a confirmation hearing before the Senate Finance Committee, President-elect Donald Trump's pick to lead the Treasury was attacked for failing to promptly disclose he was a director of an offshore business vehicle domiciled in the Cayman Islands and owned more than $100 million in real estate.


U.S. Treasury nominee Mnuchin hammered over offshore tax havens

Published: Thursday, January 19, 2017 02:22 PM

Incoming Trump administration Treasury Secretary nominee Steven Mnuchin departs after working a simulated crisis scenario during transition meetings at the Eisenhower Executive Office Building at the White House in WashingtonBy David Lawder WASHINGTON (Reuters) - U.S. Treasury Secretary nominee Steven Mnuchin said on Thursday he would work to eliminate the need for offshore tax havens, as Democratic senators accused the Wall Street veteran of using such vehicles to shelter hedge fund money from the government. In a confirmation hearing before the Senate Finance Committee, President-elect Donald Trump's pick to lead the Treasury was attacked for failing to promptly disclose he was a director of an offshore business vehicle domiciled in the Cayman Islands and owned more than $100 million in real estate.


Bad loans, other costs hobble Q4 earnings for Saudi banks

Published: Thursday, January 19, 2017 01:21 PM

Rising bad loans dragged down the fourth-quarter results of several Saudi Arabian banks on Thursday, underlining the tougher conditions lenders in the Arab World's largest economy face after lower oil ...

Bad loans, other costs hobble Q4 earnings for Saudi banks

Published: Thursday, January 19, 2017 01:21 PM

* Alawwal Bank Q4 loss 249.3 mln riyals vs 451.3 mln profit yr-ago * Saudi British Bank posts 35 pct profit drop * Profits also down for Banque Saudi Fransi, Samba Financial Group (Adds detail, context) By Tom Arnold DUBAI, Jan 19 (Reuters) - Rising bad loans dragged down the fourth-quarter results of several Saudi Arabian banks on Thursday, underlining the tougher conditions lenders in the Arab World's largest economy face after lower oil revenues curbed spending and business activity. Alawwal Bank, Saudi Arabia's oldest lender, swung to a net loss of 249.3 million riyals ($66. ...

Mnuchin not in favor of cutting federal ties with Fannie, Freddie

Published: Thursday, January 19, 2017 01:17 PM

A man stands outside Fannie Mae in WashingtonPresident-elect Donald Trump's pick for U.S. Treasury Secretary, Steve Mnuchin, on Thursday told a Senate panel he does not believe in severing federal ties with and privatizing mortgage giants Fannie Mae [FNMA.PK] and Freddie Mac [FMCC.PK]. Mnuchin, a Wall Street veteran, said at his confirmation hearing before the Senate Finance Committee that he does not support the idea of "recap and release," where the government-sponsored enterprises would stop paying the Treasury and use their profits to recapitalize in order to stand on their own. Since being placed in federal conservatorship in 2008, the height of the financial crisis, Fannie and Freddie have turned over hundreds of billions in dividends to the U.S. government.


Treasury nominee Mnuchin says long-term dollar strength important

Published: Thursday, January 19, 2017 11:59 AM

U.S. Treasury Secretary nominee Steven Mnuchin said on Thursday it was important to maintain a strong dollar in the long term, adding that President-elect Donald Trump's recent comments that the currency was too strong were focused on short-term impacts. "When the president-elect made a comment on the U.S. currency, it wasn't meant to be a long-term comment," Mnuchin said in a confirmation hearing before the Senate Finance Committee. Mnuchin, a Wall Street veteran, added that Trump's comments that the dollar was too strong were focused on short-term market factors that had pushed the greenback higher, hurting U.S. exports.

MIDEAST STOCKS-Egypt tumbles on stamp duty worry, Q4 earnings support Saudi

Published: Thursday, January 19, 2017 08:23 AM

* Sources say Egypt may introduce stamp duty * Saudi's top two banks gain on strong Q4 * SABIC slips as Q4 net profit at lower end of forecasts * Zain jumps on narrower loss, Mobily down on loss * Mouwasat Medical falls despite earnings beat * Kuwait strong as liquidity builds By Celine Aswad DUBAI, Jan 19 (Reuters) - Egypt's blue-chip stock index tumbled on Thursday after Reuters reported that authorities were considering temporarily reintroducing a stamp duty on stock market transactions, while Saudi Arabia was supported by quarterly corporate earnings. The dropped 3. ...

Top Goldman‎ executive to retire from Wall Street bank

Published: Thursday, January 19, 2017 08:05 AM

Top Goldman‎ executive to retire from Wall Street bankThe Goldman Sachs (Xetra: 920332 - news) executive co-ordinating its plans to deal with the UK's departure from the European Union is to retire after a 28-year career with the Wall Street bank. Sky News has obtained a memo circulated within Goldman on Thursday announcing that Michelle Pinggera is to step down at the end of March. Goldman was one of the largest donors to the campaign to stay in the EU, writing a £500,000 cheque last year to Britain Stronger in Europe.


Top Goldman executive overseeing Brexit plan to retire from bank

Published: Thursday, January 19, 2017 07:18 AM

Top Goldman‎ executive to retire from Wall Street bankThe Goldman Sachs (Xetra: 920332 - news) executive co-ordinating its plans to deal with the UK's departure from the European Union is to retire after a 28-year career with the Wall Street bank. Sky News has obtained a memo circulated within Goldman on Thursday announcing that Michelle Pinggera is to step down at the end of March. Goldman was one of the largest donors to the campaign to stay in the EU, writing a £500,000 cheque last year to Britain Stronger in Europe.


Trump Treasury nominee Mnuchin to defend banking record to senators

Published: Thursday, January 19, 2017 06:40 AM

Steven Mnuchin, President-elect Donald Trump's campaign finance chairman, who has been named Treasury Secretary, walks down an escalator in the lobby of Trump Tower in Manhattan, New YorkBy David Lawder WASHINGTON (Reuters) - President-elect Donald Trump's choice for Treasury secretary, Steven Mnuchin, will defend his banking record in the aftermath of the financial crisis on Thursday and sell senators on why he should be given stewardship of the U.S. financial system. Mnuchin, a former Goldman Sachs executive, hedge fund manager and Hollywood film financier, would be the first Wall Street veteran to head the Treasury Department in eight years. In prepared testimony for his confirmation hearing before the Senate Finance Committee, Mnuchin said accusations that his OneWest Bank was a "foreclosure machine" after the housing bubble burst were untrue and politically motivated.



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