Banks, Wall Street the main drivers for the week
THE main driving forces this week have been Wall Street and movements in the three local banks.
For Wall Street, the Dow Jones Industrial Average crossed 22,000 for the first time on Wednesday and added to its gains on Thursday, its seventh consecutive all-time high that came despite news that Special Counsel Robert Mueller is convening a grand jury in his investigation into Russia's involvement in the US election.
With the VIX Index that measures the options market's expectations of future volatility hovering at very low levels, Wall Street's relentless push to new highs has given investors confidence to buy and keep buying, notwithstanding the reality that central banks everywhere seem ready to start normalising interest rates through gradual increases.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DBS customers unable to log into digibank, PayLah! on Thursday
NYSE-parent ICE’s revenue misses as muted IPO markets offset record energy trading
Amazon bets big with CrowdStrike on cybersecurity products
Goldman Sachs scraps EU-era bonus cap for top bankers in UK: source
Thomson Reuters lifts 2024 forecast on first quarter revenue result
US: Wall St opens higher after Fed leaves interest rates alone