Fed will reassure markets - economist

Video Credit: Reuters Studio - Duration: 04:14s - Published
Fed will reassure markets - economist

Fed will reassure markets - economist

Spartan Capital Securities' Peter Cardillo expects the Fed to say it'll do "whatever it takes" to keep adding liquidity to the markets when policymakers meet this week.

But he also tells Reuters' Fred Katayama that he thinks there's a good chance the markets will pull back, regardless of the Fed, because "the economy is faltering."


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Sensex cracks by 335 points but pharma stocks outperform [Video]

Sensex cracks by 335 points but pharma stocks outperform

Equity benchmark indices swung nearly 1 per cent lower during the afternoon session on July 30 ahead of the expiry day of monthly futures and options contracts. At the closing bell, the BSE S and P Sensex was down by 335 points or 0.88 per cent at 37,736 while the Nifty 50 lost 101 points or 0.9 per cent at 11,102. Most sectoral indices at the National Stock Exchange were in the red except for Nifty pharma which gained by 3.1 per cent and IT which crawled up by 0.6 per cent. Nifty bank slipped by 2 per cent, financial service by 1.8 per cent and metal by 1.2 per cent. Among stocks, energy majors were big losers with Bharat Petroleum Corporation down by 8 per cent to Rs 417.80 per share. IndianOil Corporation dipped by 4.1 per cent, ONGC by 2.4 per cent and Power Grid Corporation by 2.3 per cent. Banking scrips too witnessed losses with IndusInd Bank dipping by 5.4 per cent, Axis Bank by 3.4 per cent and State Bank of India by 2.4 per cent while home loan lender lost by 3.6 per cent. Pharma stocks, however, witnessed handsome gains with Dr Reddy's advancing by 4.6 per cent to close at Rs 4,500 per share. Sun Pharma and Cipla were up by 3.7 per cent and 0.8 per cent respectively. Wipro, Infosys, Vedanta, Maruti Suzuki, Britannia and Reliance Industries too traded with a positive bias. Meanwhile, Asian stocks were flat as the US Federal Reserve members voted to leave the target range for short-term rates between 0 and 0.25 per cent to support the country's virus-battered economy. Japan's Nikkei and Hong Kong's Hang Seng were down by 0.26 per cent and 0.69 per cent but South Korea's Kospi moved up by 0.17 per cent.

Credit: ANI    Duration: 01:29Published

Wall Street rallies as Fed keeps rates pinned at record low

NEW YORK — Wall Street rallied on Wednesday, and the S&P 500 climbed 1.2% for its best day in two weeks after the Federal Reserve kept the accelerator floored..

With coronavirus surging, Fed keeps key interest rate near zero, vows more support

With COVID-19 resurgent across much of U.S., the Fed held interest rates near zero and vowed more support for economy. It noted pickup in jobs and economy.
Visa And MasterCard May Be Investigated By The Feds [Video]

Visa And MasterCard May Be Investigated By The Feds

US Senator Dick Durbin is requesting the Fed probe card networks and issuers, such as Mastercard and Visa. The senator wants an investigation over potentially anticompetitive fees. Durbin's letter hi-lighted that merchants are paying excessive debit card fees during the pandemic. The companies have planned major fee changes for US-based merchants. The Feds are requesting a competition-based investigating into Visa, Mastercard, and major issuers.

Credit: Wochit News    Duration: 00:37Published

Asian markets trade mixed ahead of US Fed rate decision; Shanghai Composite index up 1%

The Shanghai Composite was up 1%, Hong Kongs Hang Seng index slipped 0.11%, the Nikkei 225 index also fell over 1.2%. ......

Fred Katayama journalist

Trim exposure to Apple, Microsoft: strategist [Video]

Trim exposure to Apple, Microsoft: strategist

Crossmark Global Investments' Victoria Fernandez is still bullish about tech stocks, but she says investors should take some profits on the big names. She tells Reuters' Fred Katayama investors should put the proceeds into Walmart, McCormick and JPMorgan Chase.

Credit: Reuters Studio    Duration: 04:46Published
Bezos sells Amazon shares worth $3.1 bln [Video]

Bezos sells Amazon shares worth $3.1 bln Jeff Bezos sold shares worth $3.1 billion in the e-commerce company in recent days, regulatory filings showed on Wednesday. Fred Katayama reports.

Credit: Reuters Studio    Duration: 01:08Published
Investing beyond stay-at-home stocks [Video]

Investing beyond stay-at-home stocks

John Hancock Global Thematic Opportunities Fund's Gert Van Der Geer identifies long-term themes that haven't played out in the market yet. He tells Reuters' Fred Katayama medical technology companies such as Boston Scientific and Edwards will bounce back once people undergo elective surgeries that they put off amid the lockdown.

Credit: Reuters Studio    Duration: 04:17Published
Teladoc buys Livongo in $18.5 billion deal [Video]

Teladoc buys Livongo in $18.5 billion deal

Teladoc Health has agreed to buy chronic care provider Livongo Health in a deal valuing the company at $18.5 billion that bets on a boom in online care and consultations spurred by the coronavirus crisis. Fred Katayama reports.

Credit: Reuters Studio    Duration: 01:13Published

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Fred Katayama Fed will reassure the markets this week - economist Peter Cardillo @Spartan_Capital @ReutersMoney 1 week ago