Its shares were up 5.9% to 11.93 Canadian Dollars apiece. Metals and mining sector added 2.6% to lead gainers driven by data out of China. Teck Resources (NYSE:TCK)rose over 5% to 29.34 Canadian Dollars a share. Suncor Energy (NYSE:SU) )rose 0.3% to 36.79 Canadian Dollars per share. Financial sector gained 0.1%.
Higher interest rates are the biggest threat to the stock market
Speculation is the most important,” said Xiao Wu Heng in a microblog posting on Sina Weibo, China’s equivalent to Twitter. There was “always unparalleled and rich imagination” in the market, said another. By Tuesday afternoon the shares had surrendered some gains on the Shenzhen stock exchange but were still up 8.46 percent at 34.60 yuan ($5.58). It is not the first time the country’s first family has put the spotlight on a Chinese product.
I view Syria as a side show and I do not believe “valuations” are too high or represent a threat of their own volition. I also think the debt ceiling and budget deadlines, while they may offer up volatility-generating headlines, are probably more likely to provide the impetus for relief rallies than they are to derail the economic recovery. Joshua has been managing money for high net worth clients, charitable foundations, corporations and retirement plans for more than a decade. Recent posts The Christian Science Monitor Weekly Digital Edition These are all legitimate concerns, of course, but they pale in comparison to what I believe is the number one threat right now: Interest rates. RECOMMENDED: Top 10 best ‘flip market’ cities And by interest rates, I do not mean the absolute level, but the velocity of the increase, taking place at a speed the markets are currently unprepared for and businesses may not have planned for. The effect of higher rates on the housing market is already being felt in the New Home Sales number.
Opening Saudi’s Market to Foreigners a Marathon, Not a Sprint
More in Markets US Stocks Down Due to Disappointing Jobs Report US Stock Futures Up Sharply Due to Weak Jobs Report U.S. Stocks Rise on Positive Unemployment Report The stock market could experience some initial volatility as traders and investors hone in on the ongoing saga in Syria and speculation of Federal Reserve tapering its bond purchasing later this month. Last Friday, the Dow Jones Industrial Average ended the trading day flat but not without some early volatility. Overall, all three major indices were slightly higher last week, with the Dow up 0.8 percent, S&P 500 up 1.4 percent, and Nasdaq up 2 percent. Syria Action Should be Temporary President Obama will look to gather support in Congress, which returns from recess this week, for a military strike in Syria. While any strike is likely to be minor, war is usually anathema to the financial markets.
Syria, Fed Speculation to Drive Stock Market
But the authority will overcome the logistical difficultiesto have a market that is attractive to foreign investors and local investors. The question of when Saudi Arabia would open its stock market more fully to foreigners has been the top topic of discussion among outside investors, at least, for years. The kingdom in 2008 began allowing foreign investors indirect access to the market through swaps, but has hesitated to open the market fully to foreigners. Leading Saudi financial analysts say the decision appears to rest now with Saudi King Abdullah bin Abdulaziz al Saud, and his top ministers. The Capital Market Authoritys regulatory upgrades remains a going concern for the Saudi monarch, Prince Turki bin Abdullah al Saud, the deputy governor of Riyadh, told investors at Sunday nights forum. I would like to stress his interest, and his confidence, http://www.todayhotstocks.com/ despite the difficulties, Prince Turki said.