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India’s Sensex Gains as Central Bank Signals More Easing Ahead

October 9, 2020

(Bloomberg) — Indian stocks rose after the central bank signaled more policy easing ahead and announced a slew of liquidity steps to support the economy while keeping rates unchanged on Friday.

© Bloomberg
A pedestrian walks past an electronic ticker board indicating latest figures for the S&P BSE Sensex at the Bombay Stock Exchange (BSE) building in Mumbai, India, on Monday, May 20, 2019. Indian stocks rallied the most in more than three years and the rupee and sovereign bonds climbed after exit polls signaled Prime Minister Narendra Modi’s ruling coalition is poised to retain power.

The S&P BSE Sensex climbed 0.6% to 40,434.50 as of 10:55 a.m. in Mumbai, while the NSE Nifty 50 Index advanced 0.5%. Both measures are set for their best week since early June and close to erasing year-to-date losses.

“An accommodative stance remains positive for sentiment,” said Kranthi Bathini, an investment adviser at WealthMills

US stock futures rise and the dollar eases after Trump signals he may back piecemeal stimulus

October 8, 2020

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A general view of a ticker system board at the New York Stock Exchange
Joe Corrigan/Getty Images

US futures rose, along with the decline in the dollar, after President Donald Trump signaled he may be open to piecemeal stimulus.

Technology and industrial stocks gained, along with energy futures, as investor risk appetite improved.

Treasury yields held steady ahead of weekly jobless claims.

Visit Business Insider’s homepage for more stories.

US stock futures rose sharply on Thursday, pointing at an extension to the strongest daily rally in three months, after President Donald Trump signaled he is open to piecemeal stimulus, rather than a single package, fueling investor optimism that a deal may be soon in the offing.

Futures on the S&P 500, the Nasdaq 100 and the Dow Jones rose between 0.6-0.8%, lifted in part by a weaker dollar, which came under pressure from investors turning

Mall Anchor Stocks Near Short-Term Buy Signals

October 7, 2020

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Beaten-down brick-and-mortar retailer Macy’s, Inc. (M) just announced that it will partner with DoorDash to offer free curbside pick-up and same day delivery. The news looks pathetic at first glance, coming more than six months after pandemic shutdowns have exposed the industry’s perennially inadequate response to the e-commerce juggernaut. However, a more balanced view suggests that the retailer is finally taking its survival seriously after a two-year 85% haircut.

Key Takeaways

Department store stocks are testing range support and could bounce in coming sessions.
The long-term outlook for the group remains bearish, with high odds for declines to March levels.
Brick-and-mortar retailers are paying a heavy price for a chronic lack of innovation.

The four surviving mall anchors continue to struggle as we grind through the fourth quarter, but green shoots are appearing, with an improving U.S. economy and stubbornly loyal customer base that’s paying to keep the lights on.

Australia Central Bank Holds Rates, but Signals More Easing Soon | Investing News

October 6, 2020

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SYDNEY (Reuters) – Australia’s central bank held its cash rate at a record low on Tuesday but hinted at further monetary easing as it looks to create jobs in the coronavirus-ravaged economy, which is suffering its worst contraction since the Great Depression.

The Reserve Bank of Australia (RBA) kept the rate unchanged at an all-time low of 0.25%, as widely expected in a Reuters poll. The central bank also affirmed its target for three-year bonds and the recently increased cheap funding program for lenders, but signalled it was considering other measures to boost activity.

“The Board views addressing the high rate of unemployment as an important national priority,” RBA Governor Philip Lowe said in a statement announcing the outcome of the policy meeting.

“The Board continues to consider how additional monetary easing could support jobs as the economy opens up further.”

The decision comes just hours before the government is

Australia’s central bank keeps rate steady, signals easing ahead

October 6, 2020

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A pedestrian wearing a face mask walks past the Reserve Bank of Australia (RBA) building, during a partial lockdown imposed due to the coronavirus, in Sydney, Australia, on Monday, May 18, 2020.

David Gray | Bloomberg | Getty Images

Australia’s central bank left its cash rate at a record low on Tuesday but hinted at further monetary easing to bolster the coronavirus-hit economy, which is suffering its worst contraction since the Great Depression.

The Reserve Bank of Australia (RBA) kept the rate unchanged at 0.25%, as widely expected in a Reuters poll, and at the level it has stood since an emergency cut in mid-March.

“The Board views addressing the high rate of unemployment as an important national priority,” RBA Governor Philip Lowe said in a statement announcing the outcome of the policy meeting.

“The Board continues to consider how additional monetary easing could support jobs as the economy opens

Australia c.bank holds interest rates, signals easing ahead

October 6, 2020

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By Swati Pandey

SYDNEY, Oct 6 (Reuters) – Australia’s central bank left its cash rate at a record low on Tuesday but hinted at further monetary easing to bolster the coronavirus-hit economy, which is suffering its worst contraction since the Great Depression.

The Reserve Bank of Australia (RBA) kept the rate unchanged at 0.25%, as widely expected in a Reuters poll, and at the level it has stood since an emergency cut in mid-March.

“The Board views addressing the high rate of unemployment as an important national priority,” RBA Governor Philip Lowe said in a statement announcing the outcome of the policy meeting.

“The Board continues to consider how additional monetary easing could support jobs as the economy opens up further.”

The government is due to release its budget on Tuesday evening, where it is expected to boost spending to support jobs and growth in the coronavirus-hit economy.

“Both

Oil rises more than 1% after upbeat signals from Trump doctors

October 5, 2020

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By Florence Tan

SINGAPORE, Oct 5 (Reuters) – Oil prices rose more than 1% on Monday, lifted by comments from doctors for U.S. President Donald Trump suggesting he could be discharged from hospital as soon as Monday, just a few days after his positive test for COVID-19 sparked widespread alarm.

Trump’s health update eased political uncertainty in global markets, pushing Brent LCOc1 up to $39.79 a barrel by 0140 GMT, gaining 52 cents or 1.3%. U.S. West Texas Intermediate (WTI) crude CLc1 was at $37.64 a barrel, up 59 cents, or 1.6%.

Prices had slumped more than 4% on Friday amid uncertainty surrounding Trump’s health, adding to concern that rising coronavirus case numbers that could dampen global economic recovery.

But analysts said Monday’s rebound was driven by an easing of the worst fears about Trump’s health condition, albeit clouded by some mixed signals.

“I think it’s the improving health

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