Wall Street indexes were set to rise on Monday after their worst week in several months, with investors keeping a tab on the impact of potential changes to taxation on corporate profits and the effects of inflation on monetary policy. The indexes lost between 1.6 percent to 2.2 percent last week, with the S&P 500…
Wall Street Set to Recover From Sharp Weekly Losses
September 13, 2021
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Oil at One-Week High as US Supply Concerns Dominate
LONDON—Oil rose more than 1 percent on Monday, supported by concerns over shut output in the United States because of damage from Hurricane Ida, with analysts expecting prices to remain rangebound in a stable market over the coming months. Brent crude rose 90 cents, or 1.2 percent, to $73.82 a barrel by 1049 GMT and…
Banks Expect London to Remain a Top Financial Centre, Says Survey
LONDON—London will remain a leading global financial centre despite uncertainty over regulation due to Brexit, Lloyds Bank’s annual sentiment survey of financial firms showed on Monday. Britain fully left the European Union, its biggest single export customer, in December last year, with thousands of jobs and billions of euros in daily trading moving from London…
Japan’s Investors Raise Bets on Kono in Leadership Race
September 13, 2021
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TOKYO—Japan’s stock investors have raised bets Taro Kono will become the country’s next prime minister, snatching up renewable energy and office technology shares that are expected to benefit under his economic policies. At the same time, investors are now trimming holdings of some medical service shares that had previously benefited on now fading expectations former…
Home Test for COVID-19 Is Eligible Medical Expense: IRS
September 13, 2021
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The Internal Revenue Service (IRS) on Sept. 10 said that the cost of home testing for COVID-19 is an eligible medical expense. The IRS said that the cost for home testing for COVID-19 can be paid or reimbursed under health flexible spending arrangements, health savings accounts, health reimbursement arrangements, or Archer medical savings accounts. “That is because the…
Market Pulse: Dollar Firms as Inflation Data Comes Into Focus
The dollar started the week on a firm footing, with investors looking toward a flurry of economic data releases this week, including the key U.S. consumer inflation number that will factor into the Fed’s decision on tapering of stimulus. The DXY dollar index, which measures the currency against six major rivals, rose 0.20 points to 92.78,…
Stocks Correction of 5 Percent–10 Percent Likely by Year End: Deutsche Survey
LONDON—An equity market correction of 5 percent-10 percent by the end of the year was the majority prediction in a September market sentiment survey published by Deutsche Bank on Monday, in the latest sign of market caution that the equity bull run will end. According to the report, conducted from Sept. 7–9 and covering over…
Asian Stocks’ Relative Valuations to Global Peers at 14-month Low
The relative price valuations of Asian equities compared with their global peers are at a near 14-month low, data showed, after their lacklustre performance due to worries over slowing growth and the spread of the Delta-variant of coronavirus this year. According to Refinitiv data, the MSCI Asia-Pacific index’s forward 12-month P/E ratio stood at 14.9…
The Great Resignation Explained Through Data: How Businesses Can Thrive
It’s becoming increasingly well documented that knowledge workers across the country are leaving their jobs. For some, it’s a case of plain old burnout, while for others, it’s a matter of re-prioritizing. In March 2021, Microsoft’s “Work Trend Index” report found 41 percent of workers globally thought about quitting their jobs. In addition, 54 percent of the…
Oil, Banks Lift European Stocks on Recovery Bets
European stocks rose on Monday, with oil, banks and utility shares driving gains as investors hoped that a strong euro zone economic recovery would outweigh risks from a global slowdown. The pan-European STOXX 600 index was up 0.4 percent after hitting a three-week low last week. Asian stocks, however, fell following news of fresh regulatory…
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