Profile cover photo
Profile photo
Marco Polo New World
7 followers -
Redefining Global Trading
Redefining Global Trading

7 followers
About
Posts

Post has attachment
Friday October 30, 2015, Congress passed a two-year bipartisan budget plan.The 64-25 Senate vote will increase spending on domestic and defense programs (which includes an two-year deal for an increase in defense and non-defense spending by $80 billion), and as a result will avoid the debt default on November 3. Senate Majority Lead Mitch McConnell describes that while the agreement isn’t “perfect,” the bottom line is, “This fully offset agreement that rejects tax hikes, secures long-tern savings through entitlement reforms, and provide increased support for our military.”

http://ow.ly/U2Pan 

Post has attachment
It’s Fed Day! Today, Wednesday October 28th, at 2 p.m ET, the Federal Reserve will reveal their October interest rate decision. While it is very unlikely that a hike in rates will occur today, keep an eye on whether or not the central bank decides to stay open to the possibility of a hike in December.
http://ow.ly/TWF5K 

Post has attachment
Market Update:

UK GDP: Construction falls 2.2% in 3Q, manufacturing shrank 0.3%.
Apple and Twitter released earnings after this morning’s opening bell. Alibaba announced that earnings beat estimates.
The Fed initiates its two day monetary policy meeting this afternoon. While it’s unlikely that they will raise rates, they will announce their decision at 2 PM ET tomorrow.


http://ow.ly/TTNKQ 

Post has attachment
Following Valeant Pharmaceuticals loss of nearly $10.4 billion in market value after allegations against their accounting practices, Valeant states that their audit and risk committee, “has reviews the company’s account treatment of its Philidor arrangement and have ‘confirmed the appropriateness’ of related revenue recognition.”
Valeant plans to counter such allegations on a conference call at 8AM E.T.

http://ow.ly/TQqPF 

Post has attachment
Even though the European Central Bank alter interest rates or add new stimulus during yesterday's meeting, President of the European Central Bank, Mario Draghi's, comments led to the biggest equity rally in Europe following a ECB meeting since July 2013. 

http://ow.ly/TLm2b 

Post has attachment
The euro found itself at a two week low, falling to $1.1166 in New York this morning; however, after Mario Draghi suggested that the ECB might attribute to the monetary stimulus this year European bonds and stocks advanced. 

The chief of the European Central Bank stated that the, “degree of monetary-policy accommodation” will be reviewed in a later December meeting, continuing to highlight the risks of euro-area growth and prices from developing nations and commodity markets.

http://ow.ly/TIBkz  

Post has attachment
China’s GDP beats estimates… barely. Where economists predicted Chinese GDP to grow 6.8 percent, actual GDP came in at 6.9 percent. This marks the slowest quarterly expansion since early 2009.
Read more at: http://ow.ly/TA84n 

Post has attachment
Alibaba is offering Youku Tudou, China’s most popular video streaming website, $26.60 a share. An offer which is at a 30% premium from yesterday closing price. Overall Alibaba is willing to pay $3.6 billion in cash for the 81.7 percent it doesn’t already own. 

http://ow.ly/TtR1h 

Post has attachment
Switzerland’s finance ministry will demand that banks have capital equal to approximately 5 percent of total assets. To meet new requirements lenders will need to either add billions of equity to their buffers or shrink their activities. Andreas Brun, a Zurich-based analyst at Zuercher Kantonalbank  stated,  “Higher requirements mean that the banks will have fewer funds to return to shareholders…for UBS, whose investment case is based on rising dividend expectations, this is a big issue. For Credit Suisse, whose capital situation is worse, this means a higher dilution because of a bigger requirement of a capital increase.”

http://ow.ly/Tlfbp 

Post has attachment
Commodities are experiencing their best week since 2012, as the Bloomberg Commodities Index increased 3.9  percent. 

http://ow.ly/TdHXY
Wait while more posts are being loaded