Wall Street

European markets diverge

New York - Muslimchronicle

A deal to end a three-day government shutdown in Washington sent a jubilant Wall Street to a fresh set of records on Monday, as US stocks continued their seemingly irrepressible upward march. Most other global markets also rose but across the Atlantic results were mixed, with Paris and Frankfurt up while London sagged. Word of the bargain struck among lawmakers in WashingtonRead more

Dow, S&P, Nasdaq finish at records as US goverment shutdown ends

Washington - Muslimchronicle

US lawmakers broke their deadlock to end the three-day government shutdown and send Wall Street to fresh records on Monday as all three major stock indices reached new all-time highs. The blue-chip Dow Jones Industrial Average gained 0.5 percent, to close the session at 26,209.21. The broader S&P 500 jumped an even stronger 0.8 percent to land at 2,832.98, whileRead more

Global markets extend 2018 rally

New York - Muslimchronicle

The 2018 global equity rally continued apace Friday, with Asian and European markets posting healthy gains and Wall Street powering to fresh records once again. One day after the Dow finished above 25,000 for the first time, the blue-chip index moved higher still, picking up momentum throughout the day before finishing at 25,295.87, up nearly one percent. The rise came despite aRead more

Tokyo's Nikkei index closes up 3.26% on first trading day of 2018

Tokyo - Muslimchronicle

Tokyo's benchmark Nikkei index surged more than three percent on the first trading day of 2018 as investors caught up with recent rallies on Wall Street, fuelled by optimism over the US economy. The bellwether index rose 3.26 percent, or 741.39 points, to close at 23,506.33, while the broader Topix index was up 2.55 percent, or 46.26 points, at 1,863.82.Read more

European stocks flat in light holiday trading

London - AFP

European stock markets were weaker in light holiday-season trading on Thursday, but London's FTSE 100 was still hovering close to its recent record highs on the back of strong commodity prices. On the other side of the Atlantic, stocks on Wall Street pushed higher as a pullback in the dollar boosted shares of exporters. But in Europe, London's FTSE ended the session flat,Read more

European stocks struggle as US tax cut euphoria wanes

Washington - Muslimchronicle

European stock markets mainly fell Thursday, after a mixed performance in Asia, as euphoria waned over US President Donald Trump's tax reform bill, dealers said. Markets also faltered with many investors away for an extended festive break for Christmas and New Year holidays. Global equities have nevertheless rallied this year, with Wall Street enjoying a record-breaking run, on expectations thatRead more

2017: The year the bitcoin craze reached Wall Street

New York - Muslimchronicle

Bitcoin burst out of the shadows in 2017, seducing Wall Street and individual investors alike even though many still struggle to understand precisely what it is. The cryptocurrency's rise is also pushing regulators to consider taking action after years of simply urging caution. Bitcoin started the year at $1,000 per unit in January but by mid-December had shot to within striking distance ofRead more

Nasdaq tops 7,000 for first time as Wall Street rally continues

New York - Muslimchronicle

Wall Street soared ever higher on Monday as investors cheered by the looming Republican tax bill vote pushed the major indices to new all-time records. The tech-heavy Nasdaq topped 7,000 points for the first time ever shortly after 1700 GMT, putting it up 0.9 percent on the prior day's close. Meanwhile the blue-chip Dow Jones Industrial Average had gained 0.8Read more

Spotify and Tencent announce

Washington - Muslimchronicle

Music streamer Spotify — ahead of an expected initial public offering in 2018 — has agreed to buy a stake in China’s Tencent Music Entertainment, which in turn will purchase an equity stake in Spotify, the companies announced Friday. Financial terms of the deal weren’t disclosed. Last week, the Wall Street Journal reported that Spotify and Tencent’s music subsidiaryRead more

'Many' Fed members favor near-term rate

Washington - Muslimchronicle

A majority of US central bankers favor raising benchmark interest rates in the near term, signalling the Federal Reserve is likely to tighten monetary policy next month, minutes from their last meeting revealed Wednesday. But sharp disagreements persist among policymakers over the dangers of inflation and the need to raise rates, according to the minutes of the Fed's October 31-NovemberRead more