Tag: Wall Street

• Wednesday, June 20th 2018 - 08:37 UTC

  General Electric loses its place in the Dow Jones average after more than 100 years

  

  General Electric is losing its place on the Dow Jones Industrial Average after more than 100 years in a move that reflects a fall in the firm's fortunes and changes to the US economy. Walgreens Boots Alliance is to take its spot on the financial index, which tracks shares of 30 companies deemed representative of the US economy. The change takes effect on 26 June.

• Thursday, June 14th 2018 - 08:13 UTC

  Fed raises basic rate to 2%; anticipates further increases amid strong economic growth

  

  The US Federal Reserve raised the benchmark lending rate on Wednesday, the second increase of the year, and signaled it will be more aggressive about rate increases this year and next amid “strong” economic growth. The unanimous vote brings the federal funds rate to a range of 1.75 to 2%, but the quarterly economic forecasts show central bankers now expect the rate to end the year at 2.4% rather than the 2.1% projected in March.

• Wednesday, May 23rd 2018 - 08:24 UTC

  In controversial vote US Congress rollbacks 2010 banking regulations

  

  United States lawmakers passed Tuesday the first major rollback of banking regulations enacted after the financial crisis that were aimed at protecting taxpayers from fresh economic trauma and new bank bailouts.

• Tuesday, March 27th 2018 - 09:42 UTC

  The World's Biggest Investors Have Lost $436 Billion In 2018

  

  Wall Street is shocked, but it shouldn't be: Tariffs targeting China should have been a given, and now the market's tanking on trade war fears as if it just crept up on everyone, but Trump's been very clear on this.

• Monday, February 12th 2018 - 12:29 UTC

  Warning of more volatility in Asian Markets

  

  After last week's global rout, Asian markets struggled to hold early gains with analysts warning of further volatility across trading markets.

• Friday, February 9th 2018 - 09:56 UTC

  As Dow Jones plunges 10% points, fears of a bear market and ripples effects on the economy

  

  The United States Dow Jones industrial average nosedived more than 1,000 points on Thursday, registering another eye-popping loss for the closely-followed index, as wild trading and fears of rising interest rates around the world took hold of traders. The Dow as well as the S&P 500, a broader stock index, are now down more than 10% from their all-time highs, passing an important psychological barrier known as a “correction” for the first time in two years.

• Wednesday, February 7th 2018 - 15:23 UTC

  Powell becomes chairman of the Fed in a turbulent trading day

  

  Jerome Powell was sworn as the 16th chairman of the Federal Reserve on what turned out to be a turbulent day for Wall Street, with the Dow Jones industrial average plunging by more than 1,100 points. Powell, 65, was given the oath of office by Randal Quarles, the Fed's vice chairman for supervision, in a ceremony that took place before stock trading opened on Wall Street.

• Wednesday, February 7th 2018 - 08:44 UTC

  Algorithmic trading accelerated Black Monday markets plunge, speculate analysts

  

  Robot trading has accelerated this week's market dive and may have sparked the sell-off, experts say. Financial firms use computers programmed with complex sets of instructions known as algorithms, which identify trading opportunities and then strike faster than any human could.

• Monday, November 6th 2017 - 08:07 UTC

  Wall Street and LSE battle to host largest share floatation in history: US$ 100bn of Saudi Arabia's Aramco

  

  President Donald Trump has made a pitch to Saudi Arabia to float the world's biggest oil company in the US. “Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United States!”, twitted the US president.

• Thursday, August 3rd 2017 - 15:38 UTC

  Wall Street breaks the 22.000 mark for the first time

  

  Asian markets paused for breath Thursday after Wall Street smashed through 22,000 for the first time, with regional traders focused on fresh clues on the health of the US economy. Strong Apple earnings propelled the Dow above the barrier to mark its sixth straight record close — but the tech-heavy Nasdaq closed marginally lower.