Traders are still stunned by the dramatic move in risk assets during yesterday's US session. As a reminder, at the lows for the day in the mid-morning Eastern Time, we saw the DAX at -1.81%, FTSE -1.13%, S&P500 -1.03%, US 10y yield 1.516% (lowest since August 2012) and GBPUSD 1.401. By the various closes these rallied to -0.59%, -0.27%, +0.31%, 1.580% and 1.420 respectively!
Good morning, dear reader!
US stocks edged closer to record highs in overnight trade while crude oil closed above the $50 mark for the second consecutive session, showing enough strength.
Here's a wrapup of these and other major triggers that changed your market while you were sleeping.
S&P500 at 10-month high: US stocks surged in overnight trade as a rally in oil prices and a slump in the dollar aided sentiments. Investors chose to look past the recent jobs data to focus on Fed Chair Janet Yellen's comments on Monday.
ALBANY, N.Y. Glendon Scott Crawford visited a North Carolina-based imperial wizard of the Ku Klux Klan in 2012 hoping to win support for a mobile X-ray weapon he allegedly planned to use on Muslims unaware the high-ranking Klan leader was working for the FBI.
Premier Pauline Marois was adamant Wednesday that her husband never struck a deal with Quebec’s largest labour federation to protect that union’s interests and thwart a potential corruption inquiry.
Evidence at the Charbonneau Commission, which is looking into the construction industry, suggested the Quebec Federation of Labour was ready to lobby Marois and the Parti Quebecois in 2009 to put a stop to any future corruption probe.
Marois said Wednesday that no such intervention took place and that she was never pressured by the federation’s directors.
OTTAWA — Liberal senators were proclaiming victory Wednesday after 16 conservatives joined them in all but gutting a controversial bill that would force unions to publicly disclose details of their spending.
Sixteen Tory senators joined their Liberal colleagues in approving a number of amendments to Bill C-377 despite aggressive lobbying by the government to pass the legislation as is.
French banking group Credit Agricole is to cut 2,350 jobs around the world, including 850 positions in France, mainly at its Cacib investment bank, the Force Ouvriere (FO) union said on Wednesday.At Cacib, 1,750 jobs will be cut globally, including 550 in France, the union said. The bank's consumer credit branch, CACF, will see 600 jobs cut, half in France and half in the rest of the world.