In his overnight note, SocGen's FX strategist Kit Juckes appropriates asks which is the right metaphor for the state of the US economy – Goldilocks or Groundhog Day? He points to employment growth of 1.55%, unemployment 4.4%, offset by weak wage growth of 2.46%.
In a quiet overnight session, S&P 500 futures are fractionally in the green (2,426, +0.2%) with European and Asian stocks as oil drops second day after an initial ramp higher amid speculation that LIbya and Nigeria may be asked to cap their production. Nasdaq 100 Index are again higher, following the biggest daily advance in more than a week, up 0.4% as of 6:20 a.m. in New York.
When it comes to stock market performance this year, there’s no uniting the U.S. and Russia.
The S&P 500 and the Micex began the year at almost the same level, but equities in the former Soviet nation have tumbled amid losses in crude and evaporating optimism over the lifting of sanctions under U.S. President Donald Trump.
Spot the odd one out...
As the leaders of the G-20 met in Hamburg, equities in almost every other market in the group have risen.. but Russia has collapsed.
Authored by Alex Gorka via The Strategic Culture Foundation,
Much has been said about the much vaunted trip of US President Donald Trump to Saudi Arabia where he was lavished with extravagant royal pomp. The $110 billion arms deal was signed and the plans to create an Arab NATO set the agenda. The visit – the president’s first foreign trip - was described as a major step to boost the US clout in the Middle East but the days when the region was Washington’s exclusive sphere of influence are gone.
We’ve previously showed you 31 Fascinating Facts About the Dollar’s Early History, which highlighted the history of U.S. currency before the 20th century. This was a very interesting period in which we looked at the money used by the first colonists, the extreme bust of the Continental currency, the era of privately-issued bank notes, and Congress’ emergency issuance of the fiat “greenback” during the Civil War.