An Hour Ago
Mixed Open for Europe
The pan-European Stoxx 600 hovered just below the flatline in early trade, with mining stocks shedding 1.5% to lead losses while retail stocks added 0.8%.
3 Hours Ago
Global Debt’s Worrying Trend
Veteran investor David Roche expressed concern about the escalating global debt, but suggested it may not become a major crisis this year due to declining inflation.
According to Roche, there’s a mismatch in the rate at which debt is increasing and our capacity to pay for it, which could lead to a major crisis in the future.
He believes that the decreasing interest rates will deter this crisis for now, stating, “Interest rates will be on the way down rather than up and that will save us all again to fight another day.”
Global debt soared by $10 trillion in the first half of 2023, reaching a record high of $307 trillion.
3 Hours Ago
Gold Prices Reach New High
Spot gold prices hit a new record on Monday, rising to a high of $2,110.8 per ounce before pulling back to $2,084.28.
Analysts predict that the yellow metal’s price could continue to rise, citing geopolitical uncertainty, a weaker U.S. dollar, and potential interest rate cuts.
Heng Koon How, UOB’s head of markets strategy, expects gold prices to reach up to $2,200 by the end of 2024.
5 Hours Ago
Evergrande Shares Rise Despite Turmoil
Shares of Evergrande Group surged over 9% as the company’s court hearing was postponed to January 29, 2024, easing concerns about its potential liquidation.
GMT Research’s report alleging that the company had inflated its revenue and was never profitable was refuted by Evergrande.
10 Hours Ago
December’s Solid Gains for Equities
December typically sees strong gains for equities, historically posting gains 72.6% of the time, with the S&P 500 averaging a 1.28% increase.
10 Hours Ago
Traders Predict Rate Cuts in 2024
Market pricing indicates a more than 70% chance of a rate cut starting in March next year, according to the CME FedWatch Tool.
Futures suggest cuts totaling 1.25 percentage points by the end of the year, equivalent to five quarter-point reductions.
