Stock Market News Today

Today’s Top Stock Market News. Daily Overview on the News from the Stock Market. Tuesday – 2018/08/07.

StockMarketNews.Today - 2018/08/07 - Today’s Top Stock Market News.
Stock Market News Today
2018/08/07

US job openings rise more than expected in June. US job openings climbed more than expected in June to the second-highest level on record, signalling that demand for labour remains strong, data on Tuesday showed.

NYC Restaurant Job Expo Ahead of Jobless Claims

The Labor Department on Tuesday said the number of job openings edged up modestly to 6.662m in June, from 6.659m the previous month, according to its latest Job Opening and Labor Turnover report.

That was higher than expectations for 6.646m, according to a Thomson Reuters survey. Job openings hit the second highest level since records began in 2000, having clocked an all-time high in April.Job openings increased in educational services while declining in transportation, warehousing and utilities industries.

EU should not block extradition orders to UK before Brexit. The UK’s decision to leave the EU should not prevent European judges from executing extradition requests from Britain before Brexit, according to an opinion written for the EU’s highest court.

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Maciej Szpunar, an advocate general at the European Court of Justice, said EU nationals should not have extradition requests from the UK blocked because of Britain’s pending departure from the union in March 2019.

The non-binding opinion was issued after the Irish High Court asked the ECJ for clarification on how Brexit would impact the European Arrest Warrant system that allows EU governments to swiftly extradite nationals to other member states.

Russia hits out at US over reintroduction of sanctions on Iran. Russia has challenged the US over its reintroduction of unilateral sanctions against Tehran, saying it would seek to work with other countries to preserve and expand economic exchanges with Iran.

 

Putin Congress

“We are taking appropriate measures on a national level to protect [our] trade and economic co-operation with Iran. We also continue to develop on joint solutions together with other participants of the [Joint Comprehensive Plan of Action] aimed at the preservation and expansion of international trade and financial co-operation with Iran,” the foreign ministry said on Tuesday. “We believe that this work is in line with the interests of the international community.”

US stock futures rise as S&P 500 edges towards record high. US stock futures tipped Wall Street for a higher open with the S&P 500 eyeing a fresh all-time high, which it last touched in January.

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S&P 500 futures were up 0.2 per cent to 2,856.25, with the benchmark index within striking distance of its intraday record high of 2,872.87 hit on January 21. Meanwhile Dow futures were up 0.3 per cent to 25,553 and Nasdaq 100 futures were up 0.3 per cent to 7,466.50.

US futures followed European and Asian bourses higher as markets appeared to shrug off trade fears, with China last week threatening to impose retaliatory tariffs on $60bn worth of US goods. That came on the heels of President Trump’s move to ask trade representative Robert Lighthizer to consider increasing the proposed tariffs to 25 per cent from the 10 per cent announced last month.

Turkey’s benchmark bond yield reaches 20% as lira rebound fizzles.Turkey’s financial problems deepened on Tuesday, as an investor sell-off pushed the yield on its benchmark bond to a historic high of more than 20 per cent and the country sought to extricate itself from a diplomatic clash with the US.

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The face-off, now the focus of top-level contacts between Ankara and Washington, has also contributed to the Turkish lira’s fall to an all-time low this week.

Investors have signalled increasing concern over the stewardship of the economy under President Recep Tayyip Erdogan, particularly after the Trump administration’s imposition of sanctions last week on Ankara, its long-time Nato partner.

GSK unveils CFO succession plans as it pursues cost-cutting push. Iain Mackay has been appointed as chief financial officer at GlaxoSmithKline in succession to Simon Dingemans as the drugmaker seeks to cut costs as part of a restructuring.

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Mr Mackay, who has been group finance director at HSBC for the past eight years, will join in January, as the company accelerates its drive to improve the performance of its pharma division, identified by chief executive Emma Walmsley as her top priority.

Last month, Ms Walmsley announced a “major restructuring programme” that aims to reduce costs by £400m a year by 2021.

Halifax data strengthen evidence of uptick in UK house prices. UK house prices accelerated at the fastest pace in eight months in July, according to data from Halifax, providing fresh evidence of a modest recovery in the market after a moribund start to the year.

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Prices increased 3.3 per cent from a year ago, the lender’s house price index showed, in a rapid pick-up from the 1.8 per cent year-on-year rise in June. Economists have been surprised by the pace of the uptick. The consensus expectation was for a 2.7 per cent rise, according to a poll for Reuters.

Measured quarter-on-quarter, prices rose 1.3 per cent and month-on-month, 1.4 per cent.

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