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...The blue-chip S&P 500 closed up 0.9 per cent, at a new record, continuing a rally that has pushed the index 27 per cent higher since October. The Nasdaq Composite gained 1.3 per cent....
...Many are now snapping up options tied to the S&P that profit if the market keeps on rising....
...Martin P Levy H Blairman & Sons, London SW1, UK...
...The S&P 500 slipped 0.1 per cent in the final trading session of the week but the index gained 2.3 per cent since last Friday’s close, after Federal Reserve chair Jay Powell on Wednesday indicated a preference...
...In today’s newsletter: Sequoia picks boardroom battle Currys sparks takeover fight Who signed off on Evergrande’s accounts?...
...“The slight rise in the housing activity balance . . . took it to its highest level since November 2022 and implies housing construction has now stabilised,” said Matthew Pointon, senior property economist...
...Zero-day options on Wall Street’s S&P 500 index now account for 43 per cent of overall S&P 500 options volume, compared with just 6 per cent in 2017, according to data from Cboe Global Markets....
...S&P Global Ratings said in a report on Thursday that triple C borrowers would “contend with weak cash flow and elevated interest expenses this year”, while “defaults in 2024 [would] largely come from consumer-facing...
...Elsewhere in the region, Japan’s Topix index rose 1.5 per cent and Australia’s S&P/ASX 200 gained 0.6 per cent....
...The S&P Global/Cips UK construction purchasing managers’ index, a measure of the health of the industry, rose to 49.7 in February from 48.8 in January....
...Women were outnumbered five to one in the 533 most senior leadership positions in S&P 100 businesses in 2023, with only 17 black women on that list, according to USA Today in March....
...The likely result would be a lower levy on the bank....
...In our view, this probably explains their strong re-rating (forward P/E of 27.2x), and why they are trading at a 110% premium to the STOXX 600 (13.0x)” wrote....
...Second, the end of the presidential election (ugh) could spark a relief rally. And third, the tight labour markets and rising wages could spark a boom in productivity....
...The current top 15 to 20 gainers over the past 12 months in a wider benchmark of larger and smaller companies, the S&P BSE 500 index, “have historically delivered, in the past 10 years, returns which have...
...Between them, they account for about half of the gains in the entire S&P 500 so far this year, according to calculations by Deutsche Bank, and together with Apple, Alphabet, Amazon and the stumbling Tesla...
...Ronald Plummer Monte Carlo, Monaco...
...This newsletter is not an attempt to claim that the chaos that has surrounded Italy’s windfall levy is in any way the ECB’s fault....
...“I get confused by the letter ‘p’,” says Nathalie. “The Russian word for restaurant for example. I can’t help reading it as ‘pectopan’.”...
...In particular, the S&P 500 index. “The Nikkei 225 has been rising quite a bit, so some people are taking a positive view of it,” says Kuniyama. But he notes the disproportionate appeal of the S&P 500....
...Contracts tracking Wall Street’s benchmark S&P 500 were 0.1 per cent lower, roughly where they had traded ahead of the jobs figures, while those tracking the tech-focused Nasdaq 100 lost 0.2 per cent ahead...
...The global corporate default total stands at 118 so far this year, nearly double the 2022 total and well above the five-year average of 101, according to S&P Global Ratings....
...Shipowners “aren’t scrapping because there’s so much money to be made”, said Matthews....
Persistent wage growth could keep interest rates higher for longer
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