US stock futures took a breather on Friday, gearing up to end the latest turbulent week in what is shaping up to be a rocky month on Wall Street. Contracts on the tech-heavy Nasdaq 100 (NQ=F) nudged up 0.1%, while those on the S&P 500 (ES=F) hovered around the flatline. Dow Jones Industrial Average futures…
Tech investment titan SoftBank plunged as much as 10 percent on news of its Nvidia stock sale (Philip FONG) Equities rose in Asia on Wednesday as the US shutdown nears an end and after fresh jobs data boosted the chances of a third successive Federal Reserve interest rate cut. However, a mixed day on Wall…
By Lewis Krauskopf NEW YORK (Reuters) -Next week’s U.S. jobs data may need to tread a fine line for Wall Street, revealing a cooling labor market that supports further interest rate cuts without fueling fears about a recession. While stocks have edged lower this week, U.S. equity indexes remain near record highs after a relentless…
Hong Kong’s leader has ruled out introducing a suspension mechanism for the city’s labour importation scheme or fining employers for abusing the policy, amid calls to further tighten labour rules to mitigate rising unemployment in some sectors. Chief Executive John Lee Ka-chiu said on Sunday that the city was undergoing an economic transformation, but locals…
By Jamie McGeever ORLANDO, Florida (Reuters) – TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist Wall Street and world stocks roared to new highs on Thursday, boosted by the Federal Reserve’s interest rate cut the day before and a 23% surge in Intel shares, while the dollar and…
Hong Kong authorities will strengthen protection for local workers by tightening restrictions on employers importing waiters and junior cooks, while enacting legislation to better protect delivery workers. Chief Executive John Lee Ka-chiu announced in his policy address on Wednesday that the government would prioritise the employment of local workers and crack down on abuse of…
The spotlight will be on Hong Kong Chief Executive John Lee Ka-chiu on Wednesday, with his fourth annual policy address expected to boost a sluggish economy, battle deep-rooted livelihood issues and win Beijing’s approval all in one go. Just one day before Lee’s policy blueprint is unveiled, the Post shares what it has learned about…
Hong Kong’s jobless rate remained at 3.7 per cent between June and August, as the city’s food and beverage and manufacturing sectors continued to struggle. Preliminary data released by the Census and Statistics Department on Tuesday also showed that the number of unemployed grew by about 6,000 to 151,000 between June and August from the…
Options markets are pricing in a 0.78% move for the US nonfarm payrolls report Oct. 3 and 0.72% for Wednesday’s Fed rate decision, according to Citigroup Inc. (Bloomberg) — Even as the Federal Reserve meeting and $5 trillion quarterly triple-witching options expiry loom over the equity market, volatility traders are also circling the upcoming jobs…
Hong Kong authorities are set to tighten controls on employers seeking to import labour following complaints of local employees being replaced under the scheme, with such measures to be proposed in the city leader’s policy address, the Post has learned. Government sources said that authorities would roll out more public works projects to increase jobs…