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Chief economist update: A tale of two quarters
BENJAMIN ONG  |  FRIDAY, 3 JUL 2020
"It was the best of times, it was the worst of times ... it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way..." -- 'A Tale of Two Cities' ...
Chief economist update: The power of money (and a cure)
BENJAMIN ONG  |  WEDNESDAY, 17 JUN 2020
... -- Louis Armstrong It seems a long, long time ago but it's only been three whole trading days (June 11) since Wall Street suffered a big fall - the day US benchmark equity indices closed sharply lower: Dow (6.9%), S&P 500 (5. 9%), Nasdaq (5.3%) ...
Chief economist update: The second wave
BENJAMIN ONG  |  FRIDAY, 12 JUN 2020
Wall Street is down! Repeat, Wall Street is down! At the close of last night's trading activity all US benchmark equity indices closed sharply lower: Dow (6.9%), S&P 500 (5. 9%), Nasdaq (5.3%), Russell 2000 (7.6%). Financial market wire and web ...
Chief economist update: US labour market turns V-shaped
BENJAMIN ONG  |  TUESDAY, 9 JUN 2020
... stock market rally is brought to you by the letter V. The much better than expected US non-farm payrolls report sent Wall Street on the up and up - the S&P 500 gained 2.6% on the day (4.9% on the week); the DJIA rose by 3.2% (6.8%); the Nasdaq went up ...
Chief economist update: Powell blamed for fall on Wall Street
BENJAMIN ONG  |  THURSDAY, 14 MAY 2020
... Mr. US Fed chair Jerome Powell, it was. Today's headlines not only infer, but blame your words for the fall on Wall Street overnight. The Wall Street Journal published: "The Dow Jones Industrial Average dropped more than 500 points Wednesday after ...
Chief economist update: Easing does it (again)
BENJAMIN ONG  |  TUESDAY, 12 MAY 2020
... outbreak was first detected late last year." South Korea's Early Coronavirus Wins Dim After Rash of New Cases (Wall Street Journal) "SEOUL -- South Korea, which largely succeeded in quelling the initial spread of the coronavirus, is back on the defensive ...
Chief economist update: Bad news is good news is back
BENJAMIN ONG  |  MONDAY, 11 MAY 2020
... "Happiness equals reality minus expectations". Tom Magliozzi's famous five words appear to have made their way to Wall Street. For how else is one to explain the rally on 'the wall' - S&P 500 up 1.7%; DJIA up 1.9%; Nasdaq up 1.6%; Russell ...
Chief economist update: Stimulus measures ease extreme fear
BENJAMIN ONG  |  WEDNESDAY, 22 APR 2020
Tanking oil prices are the latest go-to excuse for the renewed downturn on Wall Street. But more than this, it's added to the challenges facing America's economy and its corporate sector. The US labour market has already deteriorated markedly ...
Wall Street surges as Sanders drops out, Wuhan reopens
ALLY SELBY  |  THURSDAY, 9 APR 2020
News that Wuhan, the epicentre of the COVID-19 pandemic, has now opened for business saw Wall Street surge overnight, with the S&P 500 once again entering bull market territory. From its March 23 lows, the S&P 500 has surged 23%, signifying the end ...
Wall Street rally runs out of steam
ALLY SELBY  |  WEDNESDAY, 8 APR 2020
... exposure. "Right now it's a very difficult market with nearly every sector facing major challenges." It comes after Wall Street surged 7% on Monday night on hopes that the COVID-19 pandemic had reached its peak in Europe, with the daily death toll ...
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