Business

Dow Jones hits new all-time high, lifted by tech and energy stocks

Dow Jones hits new all-time high, lifted by tech and energy stocks

But investors were still cautious about how Trump's policies would compare to his campaign promises and were also keeping an eye on key appointments in his administration. The stampede from bonds propelled longer-dated USA yields to their highest levels since January, with the 30-year yield posting its biggest weekly increase since January 2009, Reuters data showed.



Bond market jitters start to weigh on post-Trump rally

Yields on the USA 10-year Treasury notes climbed to their highest since January on Monday at 2.28%, while 30-year paper reached 3%. "What was expected to be a gradual dollar rise is going much faster than expected after Trump's win", said Koji Fukaya, president of FPG Securities in Tokyo .


US finalizes rule to limit gas 'flaring' at drilling sites

US finalizes rule to limit gas 'flaring' at drilling sites

An Interior Department fact sheet said that between 2009 and 2015, oil and gas producers vented, flared and leaked 462 BCF of natural gas on federal and Indian lands, wasting as much as $23 million annually in royalty revenue. Judge Scott Skavdahl overturned the rule in June, but the Obama administration has appealed that ruling in the 10th Circuit Court. "We're not surprised that some folks have made a decision to take this other (legal) challenge but we feel very confident that that will ...


United aims at budget travelers with 'Basic Economy' fares

United aims at budget travelers with 'Basic Economy' fares

There's also no limit on the number per flight: Any economy customer will have a choice between a regular and basic fare. Complete details on Basic Economy can be found at united.com/basiceconomy . "The realignment of our order book shifts our focus to ensuring our capital investments support earnings growth". However, unit costs are expected to grow by less than 1 percent from 2018 to 2020, after the effect of new labor deals tapers off, the company said.


China says it will stop selling iPhones if Trump starts trade war

China says it will stop selling iPhones if Trump starts trade war

A stronger dollar will make Asian imports cheaper, benefiting a number of major Asian exporters to the United States including China (20 percent of total US imports), Japan (6 percent), South Korea (3 percent), India (2 percent), and Vietnam, Taiwan and Malaysia (all below 2 percent).



Gold price falls to lowest in five months

Surging bond yields and a broad sell-off in commodities in the previous session, saw the metal dip almost 3 percent. Gold had rallied 5 percent, while copper surged to multi-month highs on Wednesday when Trump emerged as the election victor."Once we get over this period of exuberance in risk assets, we will realise that the Fed are likely to raise rates this year", said Mitsubishi Corp analyst Jonathan Butler.