Ken Fisher Special to USA TODAY Published 11:00 p.m. UTC Aug 26, 2018 Last Wednesday marked 3,453 days since the bull market began in the Standard & Poor's 500 index, stealing the 1990s’ “longest-ever bull” title. Yippee. Who to thank? Trump? Obama? The Fed? It isn’t clear who should get the credit, actually. First of all, “longest” is arbitrary. Because Europe and emerging markets have lagged America, global markets may have peaked in January, unnoticed by most. Bull markets typically narrow as they age, with fewer stocks leading. And this bull funneled into U.S. tech and banks, so Europeans aren’t feeling it. Tell an investor in Germany, where I was traveling Wednesday, we're at all-time highs in a record-long bull, and they’ll think you’re nuts. German stocks are still about 9 percent below January’s peak. Most Europeans are skittish, fearing a bear market. And that worry, … [Read more...] about Bull market: Who gets credit for the record run in stocks?
PUBLISHED: 14:52 03 August 2018 Tom Horton Newham was the only London borough where the number of properties on the market increased from June to July. Picture: PA/Chris Radburn PA Wire/Press Association Images Newham is the only London borough where the supply of new properties coming onto the housing market is not drying up, research suggests. Across the capital new listings of homes on the property market dropped by 12.7 per cent in July compared to June.Meanwhile in Newham, the only borough where the supply of housing on the market rose in July, new property listings went up by 11.9pc compared to June, according to the research by estate agent HouseSimple.com.Some boroughs such as Camden (-29.9pc), Kensington and Chelsea (-26.1pc) and Hackney (-24.1pc) experienced a significant drop off in the number of properties listed on the market.The estate agent’s CEO, Sam Mitchell, blamed the slowing market on the weather, saying “it’s hardly … [Read more...] about New properties ‘flooding the Newham housing market’
Moneybags Persimmon boss Jeff Fairburn had better news for the City on Thursday as the housebuilder bucked an increasingly tough market with rising revenues. Fairburn, who was at the centre of a storm over a £100 million bonus scheme this year, faced further embarrassment this week as the firm sent a letter to MPs saying he was paid 1320 times more than its average employee. The boss, whose £47.1 million pay was boosted by a shares windfall from the first part of the scheme, is giving some of his bloated earnings to charity. Persimmon, however, saw sales revenues up 5% to £1.8 billion for the first half of 2018, and flagged improving margins. The value of its forward sales is also 5% ahead of the same time last year, helped by “resilient” consumer confidence and cheap mortgage deals despite the prospect of interest rate rises. The shares added 16p to 2498p as it outshone gloomier news from housebuilders like Countryside and McCarthy & Stone, … [Read more...] about Home sales leap as bullish buyers help Persimmon buck the market
U.S. stocks tumbled, sending the S&P 500 Index to its biggest weekly loss in more than two years, on concern that a trade war and higher borrowing rates could throttle global growth. Oil surged on speculation sanctions on Iran will be re-imposed.The Dow Jones Industrial Average slumped to the lowest since November, led by losses Friday in companies as diverse as 3M Co. to Goldman Sachs Group Inc. The S&P 500 dropped to its least since the volatility-fueled meltdown in early February. Gold rallied and Treasury yields declined as investors sought safe havens.Global markets were caught in a risk-off mode after China announced retaliation against President Donald Trump’s proposed tariffs announced Thursday. China’s ambassador to the U.S. wouldn’t rule out the possibility of the Asian nation scaling back purchases of Treasuries in response to the tariffs.It’s been a miserable week for higher-risk markets globally, as a trade war edged closer, the tech sector … [Read more...] about Stocks Tumble in Biggest Weekly Decline Since 2016: Markets Wrap
There is a one in 10 chance that the UK is heading for a 1990s-style house price crash, an economist has warned. Simon Rubinsohn, chief economist at the Royal Institution of Chartered Surveyors, said he thought there was a 10% chance that the value of property could fall steeply. He added that there was also a 20% chance that house prices in London would fall by 10% during the coming 12 months. But he said overall he thought it was most likely that house price growth would remain flat during the coming 12 to 15 months, down from his earlier forecast that prices would rise by 3%. Nationwide Building Society warned at the weekend that house price growth could halve as a result of the current credit crisis. Fionnuala Earley, group economist at Nationwide, said the global financial crisis would exacerbate the impact of rising mortgage rates and could make the current slowdown in the housing market worse. She now expects house price inflation to slow to just 3% next year. But Ray Boulger, … [Read more...] about ‘10% chance of housing market crash’