financializer news A weblog highlighting financial topics making news in the international media.

alexandria ocasio-cortez: Kudlow praised the liberal hero for challenging Federal Reserve Board of Governors Chairman Jay Powell on the Phillips Curve during a congressional hearing, according to CNN. The Phillips Curve is a long-held economic theory which suggests that low unemployment pushes wages up faster, which in turn accelerates inflation. Alexandria Ocasio-Cortez. Ocasio-Cortez said the long-held theory is no longer describing what is happening in today's economy, and Powell agreed. AOC for her question, saying she kind of nailed that. Kudlow gave Ocasio-Cortez a hats off to Ms. (news.financializer.com). As reported in the news.

brexit: However, there would still be major disruption for companies, according to The Guardian. Mark Carney, the Bank's governor, said The perceived likelihood of no-deal Brexit has increased since last year. Stating that the risk of Britain crashing out without a deal had risen, the Bank said the City of London was ready to withstand such a scenario and avoid banks failing, as they did in the financial crisis. Although the degree of preparedness for such a scenario has improved, material risks still remain. Although such disruption would primarily affect EU households and businesses, it could amplify volatility and spill back to the UK in ways that cannot be fully anticipated or mitigated, he said. He said the absence of further action by Brussels to get ready for Brexit could leave the door open to disruption for banks and their customers in the EU, while warning that the UK would face material economic disruption from a no-deal departure. (news.financializer.com). As reported in the news.

iranian tanker: A week after Britain seized an Iranian tanker accused of violating sanctions on Syria, London said the British Heritage, operated by oil company BP, had been approached in the Strait of Hormuz between Iran and the Arabian peninsula, according to Nine News Australia. HMS Montrose was forced to position herself between the Iranian vessels and British Heritage and issue verbal warnings to the Iranian vessels, which then turned away, a British government spokesman said in a statement on Thursday. To improve your experience update it here News WorldUK says prevented Iran bid to block tanker By AAP2 53am Jul 12, Iranian vessels tried to block a British-owned tanker passing through the strait that controls the flow of Middle East oil to the world, but backed off when confronted by a Royal Navy warship, Britain says. It urged Iran to de-escalate the situation in the region . Iran's Foreign Minister Mohammad Javad Zarif dismissed as worthless the allegation that Iran sought to block the ship. The foes came as close as ever to direct military conflict last month, when Iran shot down a US drone and Trump ordered retaliatory air strikes, only to call them off minutes before impact. The US blames Iran for a series of attacks on shipping in the world's most important oil artery since mid-May, accusations Tehran rejects. (news.financializer.com). As reported in the news.

price crash: The latest price crash follows several weeks of extraordinary gains for bitcoin, which have seen its value rise by around 5,000 since mid June, according to The Independent. ISOCountry Groups euro at be cy ee fi fr de gr ie it lv lt lu mc mt nl pt sk si sm es va uk gb us us variants 1 33.4, 2 33.3, 3 33.3 We'll tell you what's true. Ethereum, ripple, litecoin and bitcoin cash suffered even heavier losses than bitcoin, seeing between 10 and 20 per cent wiped from their values. You can form your own view. Subscribe now It's current value of around 11,500 still remains way above the price it started the year on, though a long way off its all-time high of close to 20,000, which it achieved in late 2017. From 15p 0.18 0.18 USD 0.27 a day, more exclusives, analysis and extras. (news.financializer.com). As reported in the news.

supply chains: That concern among manufacturers, in particular the threat to their global supply chains, prompted the Fed to indicate at our last meeting we were looking at changing rates, according to The Japan Times. The Fed open the door last month to cutting the benchmark lending rate, and economists and investors are convinced it will happen at the end of July. While sentiment has recovered some in recent weeks, businesses around the country have been telling the Fed about their concerns about material prices and access to supplies, Powell told a Senate committee. ; Business confidence surveys turned quite negative in May when Trump's trade negotiations with China collapsed amid bitter accusations and was a bit of a confidence shock, he said. Powell confirmed that the Fed is considering adjusting its stance to help the economy continue to grow. It's very important this expansion continue as long as possible, Powell said. The bottom line is the economy is in a very good place and we want to use our tools to keep it there. (news.financializer.com). As reported in the news.

time shares: He knew something was wrong when his lowball offer for Canadian Pacific Railway shares, lobbed in at 1 below the asking price, was instantly accepted, according to The Independent. It was October 1987 and by the time the shares he had traded overseas opened on the Toronto Stock Exchange hours later on what would become known as Black Monday they had dropped a further 5 per share. Peter J. Thompson/National Post Barbara Shecter July 11, 20198 50 AM EDTLast Updated July 12, 201911 33 AM EDTFiled under NewsFP Share this story The smartest guy in the room How pension guru worked his magic, beat the market and saved Home Capital Tumblr Pinterest Google Linked InRelated Stories Chasing Edison Meet Canada's most prolific arguably inventor who sees ideas everywhere The greatest thing since sliced bread is ... old-fashioned bread Inside one baker's mission to transform Canada's loaves The story of Klondike Kate Carmack and the modern day sisters who moil for gold There are seminal moments in any career and Jim Keohane's is a doozy. Keohane, who will step down next year after a widely praised 20-year run as chief investment officer and then chief executive of the 79-billion Healthcare of Ontario Pension Plan HOOPP recalls that his loss on that day's trade was painful as markets historically tumbled to a depth and at a speed few thought possible, but it was far from the worst thing that happened. function var func function var iframe form var iframe if iframe form && iframe iframe form.submit ; iframe.onload function 'msg type' 'poll size', 'frame id' window.location.protocol '//wpcomwidgets' ; // Autosize iframe var func Size Response function e var origin document.create Element 'a' ; origin.href e.origin; // Verify message origin if 'wpcomwidgets' ! origin.host return; // Verify message is in a format we expect if 'object' ! typeof e.data undefined e.data.msg type return; switch e.data.msg type case 'poll size response' var iframe document.get Element ById e.data. request.frame id ; if iframe && '' iframe.width iframe.width '100%'; if iframe && '' iframe.height iframe.height parse Int e.data.height ; return; default return; if 'function' typeof window.add Event Listener window.add Event Listener 'message', func Size Response, false ; else if 'function' typeof window.attach Event window.attach Event 'onmessage', func Size Response ; if document.ready State 'complete' func.apply ; / compat for infinite scroll / else if 'readystatechange', function if document.ready State 'complete' func.apply ; false ; else if document.attach Event document.attach Event 'onreadystatechange', func ; ; The firm where he worked, Wood Gundy & Co., had just agreed to underwrite a large stock issue by British Petroleum Co. at a guaranteed price, and the loss triggered by the market collapse nearly toppled the independent investment dealer, and pushed the previously well-capitalized 82-year-old firm into the arms of Canadian Imperial Bank of Commerce. That's why Wood Gundy did the deal with CIBC, because they were effectively bankrupt. They were trying to get out of the BP deal, but they couldn't and they were practically bankrupt, Keohane recalled during a lengthy and wide-ranging interview at HOOPP's new headquarters on Toronto's rapidly developing waterfront. (news.financializer.com). As reported in the news.

today mohamed: The index SPX, 0.46% looks ready to have another go at that 3,000 level, which it briefly topped Wednesday, thanks to dovish comments from Fed Chairman Jerome Powell, according to Market Watch. For Thursday, he's back on Capitol Hill where we'll see if he can keep the momentum going for stocks and other assets that have rediscovered their mojo. That's the S&P 500 we're talking about. Give markets what they want and they will ask for more Dovish remarks by Fed Chair Powell do more than solidify very high expectations of a 25 basis points cut later this month. Let's see if the Chair reacts to that today Mohamed A. El-Erian elerianm July 11, 2019 But as investors cheer those new highs, they may also be feeling nervous about the fact some stocks and fixed-income assets appear a bit more costly on that ride higher. They're also encouraging some to project a 50 bps cut. (news.financializer.com). As reported in the news.

zoneco: The story of a fall in scallop outputs has become a widespread joke among Chinese A-share investors since the once No.1 seafood company in China's stock market cited it as an explanation of substantial loss in 2014, according to Global Times China. Zoneco hit headlines again in April with similar stories after its first-quarter financial report showed a loss of 43.14 million yuan. Zhangzidao Group Co Zoneco which had repeatedly attributed its substantial losses to a dramatic drop in scallop outputs caused by natural disasters, said in an announcement issued on Wednesday that it had received a punitive note from the China Securities Regulatory Commission CSRC . Zoneco was fined 600,000 yuan 87,378 due to report misrepresentation, financial fraud and information disclosure delays, and Wu Hougang, chairman of Zoneco, was banned from the stock market for life, according to the punishment statement. The CSRC said in the announcement that its probe showed several Zoneco reports, such as the yearly reports for 2016 and 2017, continued misrepresentations. Wu, who was reported to have cashed out 407 million yuan worth of shares in the secondary market since 2011, said the involved personnel and the company will defend themselves, and that they are preparing the documents, according to media reports. The company failed to disclose the huge gap between its business performance and former expectations in a timely manner. (news.financializer.com). As reported in the news.

soundbites: When times are tough a country has to tighten its belt and live within its means, according to The Guardian. Remember all that Of course you do. The government failed to fix the roof while the sun was shining. Those were some of George Osborne's favourite soundbites in 2010 when he was pinning the blame for the global financial crisis on Labour's profligacy. Johnson says lavish spending plans would work after no-deal Brexit Read more But it was as if austerity and the justification for it had all been a bad dream when Jeremy Hunt and Boris Johnson had their televised head-to-head on Tuesday. And mighty effective they were. (news.financializer.com). As reported in the news.

katherine: But cervical cancer can also have shattering consequences for the women who are lucky enough to catch it in time, according to Nine News Australia. Katherine Martin with Elliott, 4, who was born early after a difficult pregnancy due to her cancer diagnosis Supplied Treatment can leave women unable to have children - something Katherine Martin, 42, was devastated to discover. To improve your experience update it Cancer survivor mum reveals the hidden cost of beating the disease, as study reveals a quarter of women avoid smears because they're too embarrassed By Sarah Swain8 03pm Jul 11, 2019Facebook Tweet Mail It is a disease experts say will kill more than 250 Australian women this year. Mrs Martin is helping launch a new campaign by the Australian Cervical Cancer Foundation that aims to eradicate the disease in the country by 2035. New research shows that more than one quarter of women avoid getting tested because they feel too embarrassed or awkward. To do that, the rates of women getting regular pap smears needs to rise dramatically from the current 50 per cent to 70 per cent, the foundation says. (news.financializer.com). As reported in the news.

case: In keeping with local practice, the police statement gave only Wang's surname, according to CNN. Chinese state media had previously identified the main suspect in the case as Wang Zhenhua, the founder of Future Land Development Holdings. In a statement released Wednesday, police said they had taken statements from the victim, suspects and witnesses and concluded that Wang's behavior constituted alleged child molestation. His detention by police last week wiped billions of dollars off the value of his real estate companies on the Shanghai and Hong Kong stock exchanges. The arrest paves the way for them to be formally charged. The police set up a special task force to investigate Wang and another suspect after allegations against them emerged earlier this month, according to Wednesday's statement. (news.financializer.com). As reported in the news.

oil: It is the latest in a series of recent incidents in the area which have sent tensions between Iran and the US soaring, according to The Guardian. It also comes after the UK seizure last week of an Iranian oil tanker, the Grace 1, off the coast of Gibraltar, for which Tehran has threatened retaliation. The incident took place in the strait of Hormuz through which the commercial vessel British Heritage was attempting to pass on Wednesday. On Thursday, Gibraltar police said the captain and chief officer of the Grace 1 both Indian nationals - had been arrested in connection to alleged breaching of EU sanctions on Syria, but neither had been charged. Speaking about the latest confrontation, the Ministry of Defence said in a statement Contrary to international law, three Iranian vessels attempted to impede the passage of a commercial vessel, British Heritage, through the strait of Hormuz. Documents and electronic equipment was seized from the vessel, a spokesperson said. (news.financializer.com). As reported in the news.

unit: But the costs of renting a unit have stayed flat or risen in most cities, with only Sydney and Adelaide seeing declines, according to Nine News Australia. The decline in rental costs have reflected a wider slip in house and unit prices across the country, brought on by an economic slowdown and a jump in supply. To improve your experience update it here News National House rental costs drop across the country, flats flat By Nick Pearson10 35am Jul 11, 2019Facebook Tweet Mail The cost of renting a house has dropped across the nation, according to new research by Domain. Read more The suburbs where buying is cheaper than renting Rental prices in Sydney Unit rental prices in Sydney have dropped almost five per cent in the past 12 months, thanks largely to a surge in new apartments being built. It's just a one-bedroom apartment, but the median price would be a worthwhile spend in Sydney based on the Harbour views alone. Related Articles The suburbs where buying is cheaper than renting Mascot Towers apartment owners vote to foot 1m levy Real estate agent jailed for stealing house deposits But with a median rent price of 525, Sydney remains the costliest place to rent a unit in the country by a significant margin Domain says. (news.financializer.com). As reported in the news.

adam matthews: Investors need to adopt an emergency footing otherwise the window to secure the change we need will be gone, he added, according to The Japan Times. The study of 274 of the largest publicly traded, high-emitting companies found that almost half do not adequately consider climate risks in their operational decision-making. The findings underscore the gulf between commitments made by the private sector and the transformation that scientists say is needed to stop the climate crisis wrecking the planet. ; The clock is ticking on irreversible climate change, Adam Matthews, co-chair of the Transition Pathway Initiative and the director of ethics and engagement at the Church of England Pensions Board, said in a statement. Although regulators and central banks in many industrialized countries are pushing for greater disclosure of climate risks, a quarter of the companies in the study do not report their own emissions, TPI said. These included German energy firm E.ON, Spanish utility Iberdrola, Finnish paper firm Stora Enso, and Californian utility Edison International, TPI said. Analysis of 160 of the companies in the study found that only 20 were on track to cut their carbon emissions in alignment with the 2015 Paris Agreement to curb global warming. (news.financializer.com). As reported in the news.

business: The maturity and expansion of the program won't be stopped by US protectionism, according to Global Times China. Instead, it would stimulate cooperation between China and other economies also pressured by the US, experts said. Photo VCG Graphics GT Although it started mostly through cooperation with emerging markets, the China-proposed Belt and Road Initiative BRI is evolving into what one expert called a worldwide project, as several European countries including Russia, Italy and France applauded the program. The BRI is walking on a wider road. A BRI China-Italy business investment matchmaking conference was held in Milan, Italy on Friday, where business representatives from both countries discussed the search for appropriate business investment opportunities under the BRI program, the Xinhua News Agency reported on Sunday. It has broken beyond the geographical concept where it originated, Zhou Rong, a senior research fellow at the Chongyang Institute for Financial Studies at the Renmin University of China, told the Global Times on Wednesday. (news.financializer.com). As reported in the news.

china-africa relations: The new book, Natural Allies Reconstructing Africa-China Relations for Sustainability was published in English in May and is now available on Amazon for 10.15, according to Global Times China. Compared with his previous work, which advocates the application of China's political system in his home country to boost economic efficiency and social management, the new book has a broader perspective. Photo VCG After one year hidden away in his study, Nigerian scholar-businessman Charles Okeke has returned with his second book about China - this time he is trying to decode China-Africa relations, in particular the abundant trade and investment ties brought by the China-proposed massive Belt and Road Initiative. It examines what China means for Africa, given the Asian giant's ever increasing outreach to the African continent in economic activities, security cooperation and many other fields, and where African nations fit in this dynamic relationship. We need our own narrative, he told the Global Times. Charles Okeke's new book Natural Allies Reconstructing Africa-China Relations for Sustainability Photo Courtesy of Charles Okeke There has been no lack of biased criticism and mud-throwing at China-Africa relations from international academic circles, as most scholars who voice opinions on China-Africa ties have been Americans and Europeans, and very few were from Africa, something Okeke wants to rectify. (news.financializer.com). As reported in the news.

climate change: He said at a news conference the most urgent area for action is climate change, which may impact the progress made over the last several decades in reducing poverty and improving life for millions of people around the world, according to The Japan Times. According to the report, biodiversity loss is happening at an accelerated rate, and the risk of species extinction has worsened by almost 10 percent over the last 25 years. The report on progress toward achieving the 17 U.N. goals notes achievements in some areas, including a 49 percent fall in child mortality between 2000 and 2017 as well as electricity now reaching nearly 90 percent of the world's population. ; But Liu Zhenmin, the U.N. undersecretary-general for economic and social affairs, said that despite some advances, monumental challenges remain. Global temperatures have risen, ocean acidity has increased 26 percent since preindustrial times and investment in fossil fuels continues to be higher than investment in climate activities, it said. He said that is another big challenge for the world. Liu said the report also shows inequality is rising and too many people are left behind. (news.financializer.com). As reported in the news.

gr ie: I'm talking to Rishi Chandra at Google's London HQ in the striking Renzo Piano building in the West End, according to The Independent. Chandra is Vice President of Product and General Manager at Google Nest, which means he looks after Google Home, Chromecast, Google Wifi, Nest Thermostat, Nest Cam, Nest Hello and more. I felt there's a huge opportunity and change happening inside the home right now. He's worked for Google for over 12 years and is excited about the future. You can form your own view. ISOCountry Groups euro at be cy ee fi fr de gr ie it lv lt lu mc mt nl pt sk si sm es va uk gb us us variants 1 33.4, 2 33.3, 3 33.3 We'll tell you what's true. (news.financializer.com). As reported in the news.

italian law: There was no evidence the transaction took place, the website reported, according to The Japan Times. Salvini had been in Moscow at the same time as the alleged meeting in a city hotel, but there was no suggestion he took part in the discussions. The U.S. website Buzzfeed said it had received an audio recording of talks in Moscow in October among three Italians including a close aide of Salvini, Gianluca Savoini, and three unidentified Russian men. ; During their 75-minute meeting, the six men discussed a possible deal involving a Russian company selling oil worth some 1.5 billion at a discount to enable the League to pocket part of the difference, Buzzfeed said. He denied on Wednesday that his party had received any illicit funding. Italian law forbids parties from accepting donations from foreign entities, and the opposition centre-left Democratic Party PD demanded that Salvini appear in parliament to address the allegations. Never taken a ruble, a euro, a dollar or a litre of vodka in financing from Russia, Salvini said in a statement, adding that he would sue anyone who accused him of such crimes. (news.financializer.com). As reported in the news.

attempt: The gamer, whose identity has not been made public, had been barred from using his phone and tablet by his parents for more than two months, according to Nine News Australia. The ban was an attempt to stem his spending on loot boxes - a form of micro-transaction that provide gamers with in-game items that they hope it will increase their chances of winning. To improve your experience update it here News National300 pop-ups demanding cash Fears some games are introducing kids to gambling By Kate Kachor1 49pm Jul 10, 2019Facebook Tweet MailA young Aussie gamer battling online addiction was confronted with hundreds of messages demanding cash for game upgrades following a family-enforced ban. But when he switched on his returned devices the gamer had an estimated 300 pop up messages which continued to appear until he agreed to make a purchase. His parents made him quit for a few months, Dr Huu Kim Le, an Adelaide-based child and adolescent psychiatrist, told nine.au. In some cases, young gamers are accessing their parents' credit cards without permission to buy in-game virtual currency or coins that can cost around 4.99. (news.financializer.com). As reported in the news.

company: Bedell Frazier Investment Counseling Llc who had been investing in Apple Inc for a number of months, seems to be less bullish one the 935.15B market cap company, according to MSNBC. The stock increased 1.00% or 2 during the last trading session, reaching 203.24. The institutional investor held 61,778 shares of the computer manufacturing company at the end of 2019Q1, valued at 11.74M, down from 112,036 at the end of the previous reported quarter. About 4.36M shares traded. AAPL has risen 1.47% since July 10, 2018 and is uptrending. Apple Inc. (news.financializer.com). As reported in the news.

countries: Indonesia, the Philippines and Malaysia have each turned back shipments and warned they would not become dumping grounds for developed countries after China banned imports of foreign plastic rubbish, according to The Guardian. Peter Shmigel, the head of the Australian Council of Recycling, which represents about 70 companies, said countries in the region were increasingly focused on their own waste issues and less inclined to accept it from overseas. Jakarta announced on Tuesday it would return 210 tonnes of Australian household rubbish the latest demonstration of opposition in south-east Asia to receiving exported waste. Indonesia has not changed the level of contamination in the waste it will take, it's just enforcing the rules, he said. He said it would kickstart a domestic recycling market that would prevent recyclable material kept in Australia sitting in stockpiles or going to landfill. Indonesia sends rubbish back to Australia and says it's too contaminated to recycle Read more He said federal and state governments could address the issue by helping finance new plants and introducing procurement rules that required departments and agencies to use recycled material. (news.financializer.com). As reported in the news.

film spinoff: Can I take your order Kel Mitchell reminisces about 'All That' and the film spinoff ahead of the sketch comedy's revival on West Reportedly Constructing 'Star Wars'-Themed Low-Income Housing Units deck The rapper and entrepreneur apparently has an upcoming meeting in San Francisco with potential investors, according to MSNBC. Epstein Moved Freely in Hollywood Circles Even After 2008 Conviction deck The billionaire, arrested July 6 for sex trafficking of minors, attended high-profile events like the 'Batman v Superman' premiere and frequented Oscar season parties even as the MeToo movement took down other powerful Eye's' Tan France Talks New Netflix Shows, 'Naturally Tan' Book, Charity Suit Drive deck My head's still spinning, says France, in advance of season 4 of 'Queer Eye' as he completes filming of the 'Next in Fashion' reality show with Alexa Chung and preps his 'Dressing Funny' web series with Tina Fey, John Mulaney and Ali Wong. Women's Soccer Team Honored With New York Parade, Key to City After World Cup Win deck Fans chanted USA! USA! as the champions made their way through New York City's Canyon of Alonzo to Release Memoir This Fall deck Alonzo's memoir tracks her rise to fame, and how music and television defined moments throughout her Burger'-Themed Pop-Up Restaurant Serves Up Nostalgia and Film's Special Sauce deck Welcome to Good Burger, home of the Good Burger. Partners With Cannabis Company as Brand Strategist deck The rapper says he also wants to increase the economic participation of people returning from incarceration through job training and workforce Grande on Short-Lived Pete Davidson Engagement I Didn't Know Him deck The pop star also opened up about her all-consuming grief following Mac Miller's death from an accidental overdose I was the glue for such a long time, and I found myself becoming u2026 less and less sticky. Spacey Asks Court to Toss Criminal Sexual Assault Case deck The accuser's refusal to testify caused the judge to question the viability of the case against the two-time Oscar Police Investigating After Video of Fight in Disneyland Goes Viral deck Any type of violence is inexcusable and will not be tolerated, theme park officials said in part. The pieces just started to float Holt to Receive Walter Cronkite Journalism Award deck The dean of the Arizona State's Cronkite School of Journalism called Holt a fantastic role model for our students and all and Johnny' to Close a Month Early on Broadway deck The revival of Terrence McNally's two-hander, starring Audra McDonald and Michael Shannon, drew strong reviews but has struggled to build audiences. (news.financializer.com). As reported in the news.

p spx: Ahead of the data, investors had pushed all three major U.S. stock indexes the S&P 500 SPX, 0.23% the Dow Jones Industrial DJIA, 0.85% and the Nasdaq Composite COMP, -0.08% to record finishes last Wednesday, with buying enthusiasm attributed to enthusiasm for aggressive Fed monetary easing after recent weak economic data, according to Market Watch. On Wednesday, the S&P 500 topped 3,000 for the first time after Fed Chairman Jerome Powell appeared to signal that a July rate cut remained likely amid uncertainty over the economic outlook. The good-news-is-bad-news version of the phenomenon was on display last Friday after a stronger-than-expected U.S. June jobs report triggered a modest stock-market pullback as investors scaled back the scope of expected interest-rate cuts by the Federal Reserve. See S&P 500 index tops 3000 for first time here's what it means and how the stock market got here Echoes of 2001 and 2007 The counter-intuitive dynamic, which has investors expressing disappointment over strong economic data and joy over weak numbers, has exasperated some market observers, but it's hardly a new phenomenon, noted Fran ois Trahan, a strategist at UBS, in a note to clients. Indeed, there were similar short-lived periods of enthusiasm in both 2001 and 2007 as investors began to focus on coming rate cuts. The excitement investors are currently showing over impending Fed easing is fairly typical, Trahan wrote. (news.financializer.com). As reported in the news.

sachs: The new unit listed Goldman Sachs Investments Holdings Asia II Pte as the sole stakeholder, according to Global Times China. Based in the China Shanghai Pilot Free Trade Zone, the new company will conduct investment activities in areas permitted by the country, the notice said. Goldman Sachs' new China unit was officially approved on June 28 and has registered capital of 500 million, according to a notice on China's National Enterprise Credit Information Publicity System. That would include arranging finance for companies that it has made investments in, offering consultancy for investors and providing associated companies with market information and investment strategies. It is a significant move by the US investment bank. Goldman Sachs is sensing the enormous potential in China because of the continued opening-up measures and moving swiftly to lay the groundwork for future opportunities, said Li Daxiao, chief economist at Shenzhen-based Yingda Securities. (news.financializer.com). As reported in the news.

stock gauge: It remains to be seen if the benchmark can close at that level, but the sojourn above that mark may hold some importance, according to Market Watch. The stock gauge first closed at 2,000 on Aug. 26, 2014, according to Dow Jones Market Data. That is the time it has taken for the S&P 500 stock index to travel from its previous thousand-point plateau to an intraday milestone of 3,000 for the first time in its history. Although it may be just another number for some on Wall Street, for others the move for the broad-market benchmark reflects a round-number level that investors consider bullish for market sentiment. The S&P 500's SPX, 0.23% intraday high was 3,002.89 on Wednesday, but the index has pulled back in afternoon trade after Federal Reserve Chairman Jerome Powell kicked off his first of two days of semiannual congressional testimony that many have read as signaling a rate cut at the end of the month, which would presumably support further gains for stocks because lower rates translate to a lower cost of capital for corporations and individuals. Momentum could continue to push markets higher in the next few days now that the Fed's stance is more clear, wrote Adrian Lowcock, head of personal investing at investment platform Willis Owen, in a Wednesday note. (news.financializer.com). As reported in the news.