Apple Stocks gained more than 5%, surpassing Exxon oil, as the most valuable company in America. Apple stock later came down, but Apple’s reaching the top position fared well for tech companies. Other leading tech companies which ended Tuesday with positive results were IBM, Microsoft, Intel, Dell and Hewlett-Packard. Apple joined the companies that have… Continue Reading
With the markets in high volatility, mainly downwards, everyone is seeking safe havens. While the Swiss Franc and other stable currencies may be good in the short term, these currencies have risen so much that they are adversely affecting national exports and may well be revalued by their governments. This will wipe out gains made… Continue Reading
Monday is the first day of trading on the American exchanges since the United States lost its triple A credit rating. Traders are prepared for anything to happen including a market crash. U.S. futures markets are indicating steep drops based on large scale global selling as international markets reacted strongly to S&P’s downgrade. Gold hit… Continue Reading
Wall Street continued its plunge with the Dow finishing more than 500 points down to close at 11,383. The S&P ended in “correction territory” at 1200 a 4% drop as well as the Nasdaq which ended 5% down. Wall Street is reflecting the growing concern of the increased debt turmoil in both the USA and… Continue Reading
Wall Street plunged more than 1.5 percent in early morning trading signalling a return to reality. With the debt limit raised and and borrowing continuing at a record pace, investors are jumping ship realizing that the U.S. debt is no where close to getting under control. Many investors are moving their money out of riskier… Continue Reading
Despite the coveted debt deal that was passed just before the deadline, stocks sank across the board. A realization that the US economy was no where near salvation caused investors to turn bearish. Although no new rating agencies downgraded US bonds since Egan-Jones downgraded it last week, Fitch and the S & P threatened to… Continue Reading
First-Half Pre-Tax Profit Drop Today, Barclays announced a drop of 33 percent in its first-half pre-tax profit. This brings it to £2.64bn following a £1bn absorption charge for the price of sorting out complaints on the sale of payment protection insurance which led to a scandal. According to an article in the Belfast Telegraph, Barclays… Continue Reading
There has been a lot of talk lately about lowering the USA’s AAA credit rating. So who else is in the AAA club? The following is the official list: Continue Reading
With Senator Reid’s bill struck down, many politicians still anticipate a last minute compromise between Democrats and Republicans. Despite the glimmer of hope from Mitch McConnel, there is a quiet forbodence about where things are in the next 48 hours. Let me put it this way, despite the claims of compromise, there is a large… Continue Reading
According to Senate Majority Leader Harry Reid, the current negotiations taking place on a way of escalating the debt limit, “still had a way to go.” They were pushed off until last Sunday in a “test vote on a Democratic deficit reduction bill.” Right now, the White House is hoping for “as much time as… Continue Reading