Wall Street

House passes spending bill that omits most Trump priorities
WASHINGTON (May 4): The House passed a shutdown-avoiding US$1.17 trillion ($1.63 trillion) spending bill that President Donald Trump plans to sign even though Democrats were able to defeat most of his wish list, including money for a wall at the US-Mexico border. The 309-118 vote Wednesday sends the measure to the Senate, where Majority Leader Mitch McConnell said he hopes to hold a ...
Wall Street questions if Trump can turn his promises into policy
WASHINGTON (Jan 24): A number of Wall Street analysts are becoming increasingly concerned that President Donald Trump won't be able to follow through on several key proposals that he campaigned on, such as lowering corporate taxes and increasing infrastructure spending. If he doesn't, or aspects of the reforms are pared back, their outlooks would become much less optimistic.  Stocks in ...
Wall Street extends rally but Germany truck deaths reduce gains
(Dec 20): Wall Street extended a recent rally on Monday but finished the session short of earlier highs after several people were killed by a truck driven into a Christmas market in Germany. All three major US indexes ended higher but lost some steam after German police said a truck ran into a crowded Christmas market in Berlin, killing nine people and injuring up to 50 others. That rattled ...
Donald Trump is a godsend for US banks
Donald Trump’s shock victory has led to irate protest marches. Wall Street bankers were not among those holding placards. The president-elect’s promise to repeal the onerous Dodd-Frank Act is music to the ears of beleaguered bankers. The Dodd-Frank Act was passed in the wake of the global financial crisis (GFC) of 2008. It was the most radical piece of financial regulation since the ...
'Trump Thump' whacks bond market for US$1 trillion loss
NEW YORK (Nov 14): Donald Trump's stunning victory for the White House may mark the long-awaited end to the more than 30-year-old bull run in bonds, as bets on faster US growth and inflation lead investors to favor stocks over bonds. A two-day thumping wiped out more than US$1 trillion ($1.42 trillion) across global bond markets worldwide, the worst rout in nearly 1-1/2 years, on bets ...
Global stocks up, nervous markets wager on Clinton presidency
SINGAPORE (Nov 8): Asian stocks rose on Tuesday as world markets braced for the outcome of one of the most contentious US presidential elections in history, with most investors cautiously optimistic of a win by Democrat Hillary Clinton. European markets are set to begin the session little changed, with financial spreadbetter CMC Markets expecting Britain's FTSE 100 and France's CAC 40 to open ...
Hillary Clinton: Wall Street's favourite enemy
(Nov 2): Hillary Clinton began her presidential campaign by promising to do what it takes to rein in Wall Street. Boosted by Wall Street's toughest critics, US senators Bernie Sanders and Elizabeth Warren, the Democratic candidate has declared "the deck is still stacked in favour of those at the top" and said she would raise bank fees and tighten banking regulations. She has encouraged ...
Apple, energy shares shine as Wall Street rallies
NEW YORK (May 17): Wall Street rallied sharply on Monday, juiced by a jump in Apple shares and gains from energy stocks that were backed by stronger oil prices. Apple shares finished up 3.7% after Warren Buffett's Berkshire Hathaway reported a stake worth about US$1 billion ($1.37 billion) in the iPhone maker. The stock, which had lost about one-fifth of its value in the past month, gave the ...
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