U.S. Senate could open infrastructure debate this week

 WASHINGTON (Reuters) - The U.S. Senate could vote again this week on whether to begin debating a key piece of President Joe Biden's agenda, a $1.2 trillion bipartisan infrastructure plan to rebuild the nation's roads and bridges, if negotiators can finalize the details of the measure.

Senators from both parties worked over the weekend to try to finish the deal so that Senate Majority Leader Chuck Schumer could try again as early as Monday to open floor debate on the measure. Republicans blocked https://www.reuters.com/world/us/work-in-progress-us-infrastructure-bill-faces-test-senate-floor-2021-07-21 the Democrat's effort to start floor action last week, complaining they lacked the details of the deal.

Although negotiators and the Biden administration expressed optimism on Sunday, it was unclear how soon they could finalize the fine print of a complex measure in a tense political atmosphere.

The framework the senators and Biden announced a month ago, with $1.2 trillion in funding over five years, includes about $579 billion in new spending on roads, bridges, broadband and other public works projects.

"It's going to happen. ... This is what the American people want," Commerce Secretary Gina Raimondo said Sunday on CBS' "Face the Nation."

Democrat Biden has said the plan is essential, but he also wants it to be followed by a much larger $3.5 trillion budget framework that would allow for spending on some of his other priorities, including climate measures and social spending. Republicans say they won't support the larger measure.

Senator Rob Portman, the lead Republican negotiator on the bipartisan infrastructure plan, said Sunday on ABC's "This Week" that spending on mass transit was the only issue outstanding, and agreement could be reached this week.

"We're about 90% of the way there," he said.

Democrat Mark Warner, also a negotiator, told Fox News Sunday the text of the infrastructure proposal could be ready on Monday.

But a Democratic source close to the talks, speaking on condition of anonymity, said that in addition to mass transit, the two sides also remained apart on ensuring safe drinking water, expanding broadband internet access, repairing highways and bridges, and using unspent COVID-19 relief money to pay for the program. Another unresolved issue was a provision to lift workers' wages https://www.reuters.com/world/us/exclusive-democrats-may-scrap-20-bln-matching-funding-spending-bill-amid-2021-07-23.

Other stresses continued to bedevil the process. Portman warned that House of Representatives Speaker Nancy Pelosi could sink the entire effort with her insistence, which she repeated on Sunday, that the Senate also pass the larger, $3.5 trillion spending measure before the House even takes up the bipartisan infrastructure bill.

"What she has just said is counter to what President Biden has committed to. ... It's the way we ought to be doing things here in Washington to get stuff done, and I can’t believe the speaker of the House would be blocking it," Portman told ABC

Latest updates of Financial Markets

 Bitcoin prices surge on speculation that Amazon (NASDAQ:AMZN) is getting involved in crypto. China redoubles its onslaught against the country's tech sector, with fresh pressure on education technology and food delivery companies. Tesla (NASDAQ:TSLA) reports second-quarter earnings after the close. Stocks are set to open the week lower amid a sustained rise in Covid-19 cases in the U.S., and coffee futures hit fresh seven-year highs after last week's frosts in Brazil. Here's what you need to know in financial markets on Monday, 26th July.

1. Bitcoin surges on Amazon speculation, short-covering

Bitcoin settled into a range just above $38,000, up over 20% from a week ago and its highest level in over a month, as the market digested the implications of Amazon possibly adopting a strategy for payments in cryptocurrency.

It emerged last week that the U.S.’s biggest e-commerce company had advertised a vacancy for a digital currency product lead, sparking speculation that it may be planning to allow the use of crypto to settle transactions. The ad comes only weeks after a change at the top of Amazon, with founder Jeff Bezos handing over to Andy Jassy.

The move higher was amplified by some extreme short-covering: data from Bybt showed that $700 million in short positions were closed over the weekend, according to newswire reports.

2. China confirms new rules for EdTech, takes aim at food delivery

Hong Kong and mainland stocks tumbled as China widened its campaigned on the tech industry over the weekend.

Chinese regulators confirmed plans to force the lucrative online learning business to become ‘non-profit’, in what many interpreted as an attempt to drive down tuition fees. That in turn appears driven by concern at the country’s low birthrate and its looming demographic problems.

In addition, China’s State Administration for Market Regulation published a notice warning food delivery companies to ensure they pay at least the minimum wage and respect the rights of workers.

Local shares in Meituan (OTC:MPNGY), the country’s biggest food delivery company, fell 14% to a 10-month low. Its biggest shareholder Tencent (OTC:TCEHY) fell 7.7% to its lowest in over a year. The Hang Seng index fell 3.9% and the Shanghai Shenzhen CSI 300 fell 2.7%

3. Stocks set to open lower; Tesla  earnings eyed

U.S. stock market are poised to open lower, as the ongoing spread of Covid-19 across the U.S. (see below) raises fears of renewed restrictions on business and social life.

The onslaught against Chinese tech companies, meanwhile, continues to put pressure on their American Depositary Receipts.

By 6:15 AM ET (1015 GMT), Dow Jones futures were down 94 points, or 0.3%, just off the record high close of last week. S&P 500 futures were down 0.2% and Nasdaq 100 futures were down 0.1%.

The day’s earnings highlight comes after the bell when Tesla reports its second-quarter figures. Lockheed Martin (NYSE:LMT), LVMH and Hasbro (NASDAQ:HAS) will all report before that. The only data release of note is new home sales at 10 AM ET, which are expected to have rebounded from an 11-month low in June.

4. U.S. Covid-19 cases hit three-month high; signs of wave peaking in U.K.

The number of Covid-19 cases in the U.S. hit its highest level since April, while the 7-day average rose to a two-month high, with the greatest concentrations of infections now in the south and south-east of the country.

Anthony Fauci, President Joe Biden’s chief medical adviser, said at the weekend that the country is “going in the wrong direction”, as the delta variant of the virus spreads rapidly in communities with low vaccination rates.

Some 30 states still have less than half their population fully vaccinated, according to the Centers for Disease Control and Prevention,

There were also reports over the weekend of fresh outbreaks – albeit far smaller ones – in parts of China. There was more encouraging news from Europe, where the end of the Euro 2020 soccer tournament led to case number falling in the U.K. and the Netherlands, and flattening out in Spain and Portugal.

5. Oil struggles on signs of weak Chinese demand; coffee hits new highs

Crude oil prices started the week poorly, after newswires reported that China will cut official selling prices for diesel and gasoline by nearly 100 yuan a ton, or some $2 a barrel.

The move, which comes after a loosening of monetary policy by China’s central bank, is the latest indication of economic momentum starting to flag in the country that was the first to recover from the initial wave of Covid-19.  It also comes after devastating floods hit various parts of China, threatening a dip in near-term demand levels.

By 6:15 AM ET, U.S. crude futures were down 49c, or 0.7% at $71.53 a barrel. Brent futures were down 0.6% at $72.99 a barrel.

Elsewhere in commodities, however, the tone was stronger, with US Coffee C Futures hitting fresh seven-year highs and copper futures rising 1.4%.

 

Bitcoin Surge, China Tech Onslaught, Tesla Earnings - What's Moving Markets
 

U.S.Dollar on the defensive as U.S. leaders meet on stimulus, pound raised by Brexit plan

 The dollar is on the defensive today near 2 1/2-year lows on Wednesday as progress toward a massive U.S. government expenditure bill and COVID-19 pandemic relief measures whetted risk appetite, moves towards for safe investments.

    Also adding sentiment, the The U.S. Federal Government. expanded its roll-out of a vaccine from U.S.Pharma &Biotech Companies, while another developed by Moderna (NASDAQ:MRNA) Inc appeared set for approval in the next 7days.

    On the other hand the G.B.P. held on to more than 1% of gains made on Yesterday following a report that an elusive Brexit trade deal may now be close, even as British Government repeated that the most likely outcome of talks was no deal.

    The U.S.Dollar moved in between at $1.21540 per euro, near the 2 1/2-year low of $1.2177 touched on Monday. It traded at 103.64 yen, after fallen 0.4% against the JPY  on Tuesday.

The G.B.P. was last at $1.3444, following a 0.9% climb in the morning  session. It touched  $1.3540 earlier this month, a level not seen since 2018.

There's a Bullish trend  appears  in the market.

The main leaders in the U.S. Government  began a second meeting on yesterday to finalise $1.4 trillion in spending and end a standoff on coronavirus package, after indicating  optimism following their first meeting.

Investors are also waiting on the outcome of a two-day U.S.Federal monetary  policy meeting on today. The U.S.Government officials are expected to keep the key overnight interest rate pinned near zero and indicates  it will stay there for years to come, a decision that market experts say will further boost investors' market sentiment.

Most of the market experts also expect new guidance on how long the U.S. Federal Reserve  will keep up its large buy back of bond program.

The Major Currency, which measures the greenback against a major currencies, was last at 90.477, after sinking as low as 90.419 on Monday, a level not appears  since 2019.

Aus dollar was slightly moved to  75.525 U.S. cents, near the 2 1/2-year high of 75.780 it recorded on 14th of this month.

The Kiwis dollar traded at 70.86 U.S. cents after touching  71.20 on day before yesterday  for the first time since April 2018.

The US stock market gains on Stocks, stimulus hopes as Federal Bank takes Key step

 The U.S. stock indexes gains on Tuesday as profit toward a massive government expense  bill and COVID-19 pandemic relief measures kept hopes high, while investors awaited for new policy measures from the Federal Bank  meeting in this  month.

    Software shares were the top boost to the Dow and the Nasdaq, climbing  4% to a more than three-month high after a report said it plans to increase iPhone production by 30% in the first half of 2021.

    Discussions in American senate  were underway late on yesterday to agree on a bill to avoid  a U.S. Government shutdown, with Democrat and Republican leaders appearing more upbeat about including a fresh round of coronavirus financial assistance, the initial  relief measure since this financial year 2020-2021.

    Stock Markets have moved in profit  with news on an expenditure bill, which is expected to further offset the financial  impact of the virus outbreak and keep liquidity high.

    But official news  over the timing of the expenditure bill, as well as a spike in the U.S. coronavirus death toll pushed the  to a four-day losing streak on Yesterday, despite optimism over the start of a nationwide vaccination program.

    If the expenditure bill  to be passed, but investors are really hopeful of a stronger response to the present situation, said by the Market analysts.

At 9:54 a.m. ET, the Dow Jones Industrial Average was up 133.99 points, or 0.45%, at 29,995.54, the S&P 500 was up 26.03 points, or 0.71%, at 3,673.52. The Nasdaq Composite was up 105.53 points, or 0.85%, at 12,545.57.

Software sector stocks were the best performing S&P 500 sector in initial  trading.

  High  liquidity and Cheap  lending rates have seen investors investing  to stocks for high returns through the present pandemic situation, with the Software  sector benefiting the most.

 The U.S. Federal Reserve Bank is expected to indicate simple monetary policy for the near  future in its two-day meeting starting today. The recently invented Covid-19 vaccine roll-out is also expected to improve the central bank's 2021 outlook.

  The U.S. Food and Drug Administration staff members did not raise any new concerns over data on the production of  COVID-19 vaccine. A report said the vaccine will gain emergency use approval on 4days before

    Advancing issues outnumbered decliners for a 2.51-to-1 ratio on the NYSE and a 1.67-to-1 ratio on the Nasdaq.

    The Stock Market indexes noted  eight new 52-week highs and 2 new downs. Clearly the news of the Covid-19 Pandemic played a vital role in the U.S. Stock Markets.

latest Financial Market Updates today-02-08-2018

                                            Energy stocks, trade fears weigh on Wall Street

U.S. stocks fell on Monday as a drop in oil prices dragged energy stocks lower, while the risk of an escalating tariff war between Washington and its trading partners continued to weigh on the broader market sentiment.

The United States' decision to impose tariffs on $34 billion worth of Chinese goods will come into effect on July 6, posing threats of a similar response from Beijing.

Meanwhile, the European Union has threatened to hit the United States with almost $300 billion in retaliatory tariffs, while Canada has vowed to slap punitive measures on $12.63 billion worth of American goods in response to U.S. steel and aluminum tariffs.

"I think it's (the market's decline) a continued reaction to the trade policy situation," said Brad McMillan, chief investment officer for Commonwealth Financial.

"We see the United States announce certain unilateral actions, then we're starting to see some of the responses, and I think the markets are getting increasingly worried."

Nine of the 11 main S&P 500 sectors were trading lower. They were led by a 1.38 percent fall in the energy index (SPNY) on the back of a drop in crude prices as supplies from Saudi Arabia and Russia rose. [O/R]

At 12:04 a.m. EDT the Dow Jones Industrial Average (DJI) was down 128.13 points, or 0.53 percent, at 24,143.28, the S&P 500 (SPX) was down 11.04 points, or 0.41 percent, at 2,707.33 and the Nasdaq Composite (IXIC) was down 19.18 points, or 0.26 percent, at 7,491.12.

The three major indexes however pulled back from steeper declines at the start of the session as technology stocks (SPLRCT) pared their losses and was last down 0.13 percent.

Also helping the market was Commerce Department data that showed U.S. construction spending increased 0.4 percent in May, more than estimated, amid gains in investment in private and public construction projects.

"Data came well above expectations, that says the dollar strength is not hitting U.S. manufacturers and trade at least so far," said McMillan.

Boosting the view, was the Institute for Supply Management (ISM) saying national factory activity surged last month, likely as steel and aluminum tariffs disrupted the supply chains, resulting in factories taking longer to deliver goods.

Tesla (O:TSLA) said it hit its target of producing 5,000 Model 3 sedans per week and reaffirmed its profit target. The stock, which rose as much a 6.4 percent, reversed course to trade down 1.7 percent.

Shares of Casino companies fell as gambling revenue in the Chinese territory of Macau rose less than expected in June, which Bank of America (NYSE:BAC) said was due to the FIFA World Cup, the fading policy stimulus and trade tension in China.

Wynn Resorts (O:WYNN) sank 7.9 percent, the most on the S&P 500. Las Vegas Sands (N:LVS) fell 6.9 percent after Bank of America downgraded the stock. MGM Resorts (N:MGM) dropped 2.5 percent.

Dell Technologies took a step closer to become a public company again with a deal to buy the tracking stock of its majority-owned VMware unit. The VMware tracking stock (N:DVMT) jumped 7.8 percent, while VMware (N:VMW) jumped 9.4 percent.

Declining issues outnumbered advancers for a 1.72-to-1 ratio on the NYSE and a 1.37-to-1 ratio on the Nasdaq.

The S&P index recorded one new 52-week highs and 11 new lows, while the Nasdaq recorded 31 new highs and 48 new lows.

http://www.financialmarket24x7.com/latest-financial…today-02-08-2018

Weekly Fore Cast of Major Currencies Usd/JPy

                                                       Forex Weekly Fore Cast

The Major Currency Us dollar struggled against the Japanese Yen during this week.  Initially It shows a strong rally in the financial market. In my opinion in the short term investments the investors invest their money in the Japanese yen, But in the long term basis it is better to invest in the us dollar.  Because the U.S. dollar rallies in the long term so that the investors will expect the profits in long term.  It is better to choose that the investment in U.S.dollar will get good profits.

 The impact of trade war between the two major countries is also cause of the down trend of dollar  in the financial market. However the us economy will recover and shows good performance in the financial sector. 

BANKING AND INDUSTRIAL SHARES GAINED IN THE WALL STREET MARKET

                                                   Today U.S.Stock Market Analysis

Today in the wall street market the Banking and Industrial Sector stocks rallied. According Standard and Poor report these shares gained 2.2 percent which is highest in the month of July.The yielding capacity of the us economy improving slowly and steadily.

The financial experts are anticipating good returns in Us Stock market in the coming week. They also thinking the trade issues will be ignored. The trade war between the two major countries costs around 34 billion dollars. But today the issue is ignored  and the markets closed higher compare with the last week.

Today in the Morning session The Dow Jones share market  Average  price was rose to  267.57 points, the value is  24,724.05, the S&P 500 was up 19.36 points, or 0.70 percent, at 2,779.18 and the Nasdaq value was up 38.48 points, or 0.50 percent, at 7,726.87.

Caterpillar (NYSE:CAT) rose 3.5 percent, giving  the biggest tonic  to the market. The S&P commercial sector climbed to 1.7 percent, with military stocks are all gaining.

Tesla (NASDAQ:TSLA) was rose to 1.1 percent after the data released to the company increased prices of its Model X and S cars by over $20,000 due to increasement of tariff in china.

After analyzed the data of the us economy once again I suggest  the investors to invest their money in short term in Japanese yen.  But still I strongly believe that the us economy will recover and give good yields to the investors even though it involves in the trade war.So that who want to get good yields in the long term basis it is better to invest the us dollar.

Today-10-07-2018 Stock Market News

The Us stock Market Wall Street Started little bit higher on today, as latest quarter income were in concentrated but were get down by lingering business problems concerns.</p>
<p>The S&P 500 get profit around six points or 0.24% to 2,790.80 as of 9:39 AM ET (13:39 GMT) while the Dow composite earned 109 points or 0.44% to 24,885.76 and tech heavy NASDAQ Composite was climb over 12 points or 0.17% to 7,769.08.</p>
<p>The second  quarter economy results come this week, with Delta Air Lines Inc (NYSE:DAL) publishing  its business results on Wednesday, while the larger banks, including JPMorgan (NYSE:JPM) and Bank of America (NYSE:BAC), published  on Friday.</p>
<p>Profit motive was caused the  trade tensions as traders look for Big Tax rebates from the U.S.Government which gives good impact on their profits.</p>
<p>PepsiCo (NASDAQ:PEP) limited to  2.29% after publishing  higher than expected their economic results, while Tesla (NASDAQ:TSLA) got profit around 2.19% luxury car maker is preparing to start a manufacturing unit in China. Citigroup (NYSE:C) climbed up to 0.42% while Boeing (NYSE:BA) was climbed up to 1.19% and Twitter Inc (NYSE:TWTR) got around 1.63% profit</p>
<p>On the other side Netflix (NASDAQ:NFLX) loose   0.67% while Advanced Micro Devices Inc (NASDAQ:AMD) was loose 0.75% and Amazon.com (NASDAQ:AMZN) little bit down 0.14%.</p>
<p>On the other side European  stocks were mostly closed with profits. Some German companies climbed up to 74 points or 0.59% while the European country  France the CAC company  40 climbed up to  33 points or 0.62% and in Britian, the FTSE 100 was climbed up 11 points or 0.15%. However  the pan-European Euro Stoxx company  50 got nine points or 0.27% while the  IBEX the head office is in spain  35 drop down 37 points or 0.38%.</p>
<p>In the commodities market  the  gold futures drop down around 0.38% to $1,254.80 Mean while The  Petroleum  futures climbed up to 0.96% to $74.56 for one barrel. The American dollar shows good performance  against the  basket of six major currencies in the Forex Market.</p>
<p>In my opinion I observe that the gold future market will give good yields in the next coming months.  The reason is if the rates of petroleum products increase automatically the rate of inflation will gone up. After that the investors will think the safest zone is gold market, the funds flow in the gold market will increase. So that it will give good yields. In my yesterday's article I analyzed  the us dollar position, today it happened. The investor will choose the gold market as another option to get good yields from their investments.

http://www.financialmarket24x7.com/today-10-07-2018-stock-market-news/

Forex News Today

http://www.financialmarket24x7.com– The Japanese yen value increased  while the Australia  and the China currency yuan retreated after the United states announced that it would increase the duties on an extra $200 billion worth of anti dumping duties  on Chinese Goods on Yesterday.

The Jpy, frequently sought in times of political tensions and market turmoil, gained against a number of slots following the latest anti dumping duty news. The value of the USD/JPY pair decreased to 110.85 by 12:30AM ET (04:30 GMT) after getting a seven-week high of 111.355 yen earlier on yesterday.

Meanwhile, the the Chinese yuan retreated by the most in more than 7 days  as the USD/CNY pair climbed up to  0.6% to 6.6695, though it still stopped some distance from 11-month low of 6.7344 reached in previous week.

The key issue of China’s government is stability," said financial experts  "If the market situation deteriorated and the Chinese yuan witnessed further downward pressure, we would expect the authorities to step in, particularly if there were signals of capital flight.

The Us Government   announced  on Tuesday that it would impose anti dumping duties  on an extra 200 billion worth of anti dumping duties  on  Chinese goods, raising concerns of a full shape of  trade war between the world's two largest developed nations. The consumer items are also included in the proposed list such as cloth goods, electronic components and other consumer goods as well as other technology products.

The Us Government officials said a two-months time will be taken that public would  be allowed to comment on the proposed tariffs before the list is finalized, though the Us Government  had told  earlier that his country may finally impose tariffs on more than $500 billion dollars of tariffs on   Chinese imports

On the other side , the AUD/USD pair fell 0.7% 0.7407 due to the trade war between the two major economically strong countries

The American Dollar  today trade fell against a basket of currencies, around 0.14% to 93.98 on today  after the news came from the Us Government.

http://www.financialmarket24x7.com/forex-news-today

U.S. Senate could open infrastructure debate this week

  WASHINGTON (Reuters) - The U.S. Senate could vote again this week on whether to begin debating a key piece of President Joe Biden's ag...