March 28th, 2016
Daily Market Commentary
- Personal Consumption Expenditure in the US was up by 0.1% and 1% in month-over-month and year-over-year terms, respectively.
- Personal income in the US was up 0.2% in month-over-month terms.
- Oil rose for the first time in three sessions after the number of active rigs fell in the U.S., potentially easing a supply glut.
- Gold has been thrown onto the defensive by a resurgent dollar, sinking to the lowest in more than a month as the U.S. currency’s rally hurts the allure of the metal that’s been the best-performing commodity of 2016.
- A majority of Canada’s business leaders believe governments need to invest in clean-technology research to spur the breakthroughs that could result in the elimination of fossil-fuel use over the coming decades. (Globe and Mail)
- Canadian energy companies with surplus cash are buying back bonds on the cheap to help shore up balance sheets amid the worst oil downturn in decades.
- U.S. stock-index futures advanced, signaling equities will climb after their first weekly decline in six, as a report showed a strengthening in the world’s biggest economy.
- The dollar rose for a seventh day against the yen, the longest winning streak since October, before U.S. economic data this week that may add to speculation the economy is strong enough to handle higher interest rates.
- Abengoa SA won support from creditors to allow more time to approve a 9.4 billion-euro ($10.5 billion) debt restructuring and avoid insolvency.
- China’s stocks fell as property developers slumped after some of the nation’s biggest cities introduced real-estate curbs, overshadowing a rebound for industrial companies’ profits.
- Fairfax will buy 33 percent of Bangalore International Airport Ltd. for 21.49 billion rupees ($322 million), GVK said in a statement to the Mumbai stock exchange Monday.
*All information is taken from Bloomberg, unless otherwise noted.