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    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

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    Fuel shortage: New policy to ensure direct delivery of fuel products underway – NPA

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    Ghana needs more entrepreneurs to check imported inflation – Finance Minister

    Fuel prices to rise marginally in second pricing window of May – IES

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    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

    Fuel prices to rise marginally in second pricing window of May – IES

    Gov’t to put measures in place to reduce ‘imported inflation’ – Ofori-Atta

    Businesses will pass on increased cost of production from high utility tariffs – GNCCI

    KIC and Mastercard Foundation launch Agri-MSMEs acceleration program

    Benjamin Dzoboku appointed as new Managing Director for Republic Bank Ghana Plc

    Gov’t to launch national airline to benefit from AfCFTA – Hassan Tampuli

    Accra Brewery PLC launches thematic campaign dubbed ‘Taste no yɛ Deep’

    BoG reiterates calls for public to report unapproved banking charges

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    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

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    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

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    The seven factors driving high cost of living in Ghana

    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

    Over 120,000 persons reimbursed for wrongful e-levy deductions – GRA

    Fuel shortage: New policy to ensure direct delivery of fuel products underway – NPA

    Current high inflation rate not an isolated event – Seth Terkper

    Ghana needs more entrepreneurs to check imported inflation – Finance Minister

    Fuel prices to rise marginally in second pricing window of May – IES

    Samuel Dubik Mahama appointed ECG Managing Director

    Gov’t to put measures in place to reduce ‘imported inflation’ – Ofori-Atta

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    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

    Fuel prices to rise marginally in second pricing window of May – IES

    Gov’t to put measures in place to reduce ‘imported inflation’ – Ofori-Atta

    Businesses will pass on increased cost of production from high utility tariffs – GNCCI

    KIC and Mastercard Foundation launch Agri-MSMEs acceleration program

    Benjamin Dzoboku appointed as new Managing Director for Republic Bank Ghana Plc

    Gov’t to launch national airline to benefit from AfCFTA – Hassan Tampuli

    Accra Brewery PLC launches thematic campaign dubbed ‘Taste no yɛ Deep’

    BoG reiterates calls for public to report unapproved banking charges

  • TECHNOLOGY

    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

    Strict enforcement of AfCFTA regulatory framework will ensure smooth implementation of PAPSS – Bawumia 

    President of Cote d’Ivoire Alassane Ouattara meets Eni’s CEO Claudio Descalzi

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Wall St. set to open slightly higher; Fed meet eyed

bycitibusinessnews
November 1, 2016
in INTERNATIONAL, US
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S. October 31, 2016.  REUTERS/Brendan McDermid

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S. October 31, 2016. REUTERS/Brendan McDermid

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Wall Street looked set to open slightly higher on Tuesday, a day after all three major indexes recorded their worst monthly performance since January.

Investors have been cautious about taking large positions due to uncertainty surrounding the U.S. presidential election and with the Federal Reserve poised to raise interest rates before the year ends.

The market is also watching the outcome of the Fed meeting, which begins on Tuesday. While traders doubt the Fed will raise interest rates this week, they will be looking for signs to firm up their expectations for a hike at the central bank’s meeting next month.

Chances of a rate hike in December were at around 78 percent, according to the CME Group’s FedWatch Tool.

Wall Street ended barely changed on Monday as investors digested the latest large-scale corporate mergers as well as the most recent twist in a tumultuous U.S. presidential election.

Democrat Hillary Clinton held a 5 percentage point lead over Republican rival Donald Trump, according to a Reuters/Ipsos opinion poll released on Monday, down only slightly since the FBI said last week it was reviewing new emails in its investigation of Clinton ahead of the Nov. 8 election.

“The market is expected to be range bound until the election results next week,” said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.

“The latest Clinton news has caused some uncertainty because the market had priced in her winning the election.”

S&P 500 e-minis ESc1 were up 4 points, or 0.19 percent, with 138,467 contracts traded at 8:26 a.m. ET.

Nasdaq 100 e-minis NQc1 were up 6.75 points, or 0.14 percent, on volume of 22,036 contracts.

Dow e-minis 1YMc1 were up 22 points, or 0.12 percent, with 26,789 contracts changing hands.

The S&P 500 index ended October with a 1.9 percent drop, the third straight month of decline. Still, the benchmark index is up about 4 percent for the year.

S&P 500 companies looked set to snap a long streak of quarterly earnings decline, with a number of companies reporting strong results. Profits are expected to have risen 3.1 percent, according to Thomson Reuters I/B/E/S.

Dow component Pfizer (PFE.N) was down 2.2 percent at $31 in premarket trading after the drugmaker’s quarterly profit fell below expectations.

L Brands (LB.N) fell 7.8 percent to $66.55 after a host of brokerages cut their price targets on the stock.

Archer Daniels Midland (ADM.N) rose 4.7 percent to $45.60 after the agricultural products trader reported a far better-than-expected quarterly profit.

Economic data expected on Tuesday includes the Institute for Supply Management’s index of national factory activity, which likely rose to 51.7 in October from 51.5 in the preceding month. The data is expected at 10 a.m. ET.

Oil edged up from one-month lows, following its largest one-day slide in more than five weeks, although analysts said the prospect of a more substantial price recovery was limited. [O/R]

–

Credit: Reuters

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