Happy Halloween

 

Cauldrons and broomsticks take shape in the cold night, making your Halloween full of fun and of  fright, don’t cross any witches or fall under their spell, and your Halloween night will go perfectly well!

China cuts rates again to Induce Economic Growth

Central bank of China decrease interest rates last Friday. This the 6th time they cut it in less than a year. They also lowered the level of cash that banks are required to hold as reserves in an attempt to spur growth in its slowing economic growth.

Monetary policy easing in China which is the 2nd largest economy in the world is at its most aggressive since the 2009 financial crisis, as growth looks set to slip to a 25-year-low this year of under 7 percent.

The People's Bank of China (PBOC) said they lowered its benchmark lending and deposit rates to stimulate borrowing and spending without squeezing banks' ability to profit from the spread between two rates.

The change, which Beijing had promised to deliver for months, will in theory allow banks to price loans according to their risk, and remove a distortion to the price of credit that analysts say fuels wasteful investment in China.

China's policy loosening came a day after the European Central Bank said it could give a bigger policy jolt to the economy as soon as December to fight falling prices.

China is the latest of the world’s big economies to turn to its central bank to stimulate flagging growth. The Federal Reserve, with rates already near zero, expanded its holdings of government and mortgage bonds through last year to push down long-term interest rates. Now it is grappling with the timing to raise short-term rates.

China’s announcement came one day after European Central Bank chief Mario Draghi signaled the ECB could do more to stoke growth and inflation in the euro-zone as early as December.

Online Dating sites Match and Tinder files for IPO

Dating sites Match and Tinder wants to go public, soon you will be able to purchase stocks for hooking up. Match Group, the online dating division of IAC/InterActiveCorp, brands include Tinder, OkCupid and Match, has applied with the SEC for an IPO last Friday. It is estimated that they could raise $500 million. No price has yet been set.

The Match will trade under the ticker symbol "MTCH". The company is owned by IAC, the media conglomerate helmed by Barry Diller, which also controls other digital online companies like About.com and Vimeo.

IAC will retain virtually all voting control of Match by offering a non-voting type of stock in the offering.

The paperwork also reveals that Match agreed in July 2015 to acquire PlentyOfFish, another online dating site, for $575 million.

Match and Tinder which are dating sites, have been growing steadily in the past few years. They were able to generate more than $888 million that gave them about $148 million in profit in 2014. In the first six months of 2015, Match generated revenue of $483 million and profit of $49.5 million.

Wall Street Down Slightly Amid Factory data Growth Worries

U.S. stocks down a bit, it was pulled down by losses in materials and energy shares because of weak U.S. and China factory data. S&P 500 was trading higher slightly when Chinese President Xi Jinping said that China was capable of maintaining a relatively high growth rate for a long time.

The S&P 500 is down 2.8 percent since Thursday, after the Federal Reserve hold interest rates near zero.

According to reports the U.S. manufacturing growth are at a 2-year low in September, while Chinese factory activity shrank to a 6-1/2 year low in the month.

News report about Boeing Co (BA.N) bagging orders and commitments from China for aircraft valued at about $38 billion at list prices, didn't save their shares it fell 1.7% to $131.67.

The S&P materials index .SPLRCM was down by 2.1%, led the decline for the S&P 500 for a 2nd day, followed by the energy index .SPNY, which was down 1.4%.

U.S. crude oil futures close at negative 4.1%, while shares of Chevron (CVX.N) were at negative 1.5% at $76.12.

The Dow Jones industrial average .DJI fell 50.58 points, or 0.31%, to 16,279.89, the S&P 500 .SPX lost 3.98 points, or 0.2%, to 1,938.76 and the Nasdaq Composite .IXIC dropped 3.98 points, or 0.08%, to 4,752.74.

China Yuan may move Go up or down According to central bank Chief economist

China's move to bring down the Yuan last week could lead to similar adjustments, and China's currency is likely to move in both directions as the economy stabilizes, Ma Jun, chief economist at the central bank said on Sunday.

The People's Bank of China (PBOC) surprised the global markets by bringing down the yuan CNY=CFXS by nearly 2% last August 11. The PBOC called it a free-market reform but some saw it as the start of a long-term yuan depreciation to spur exports.

A more market-oriented pricing mechanism for the Yuan will help to avoid excessive deviation from the equilibrium level and significantly reduce the possibility of sudden fluctuations, Mr Ma said in an e-mailed statement on Sunday. The economy will probably grow about 7% this year, he said.

The yuan halted a three-day slide on Aug 14 following its first major devaluation since 1994 after the central bank said it will intervene to prevent excessive swings. Policy makers are trying to balance the need for financial stability with a desire for stronger exports and the yuan's inclusion in the International Monetary Fund's basket of reserve currencies.

"If we want to evaluate the yuan's mid-term trend, it's more important to analyze the fundamentals of the economy, which has shown signs of stabilization and recovery," Mr Ma said in the statement. "Even if the central bank needs to intervene in the market in the future, it could be either way." China's decision on Aug 11 to allow markets greater sway in setting the currency's level triggered the biggest selloff in 21 years and roiled global markets.

The current exchange rate is now more consistent with economic fundamentals, and there is no need to adjust it to boost exports, PBOC Deputy Governor Yi Gang said at a press conference on Aug 13. The central bank has exited regular intervention, and will will act when the market's volatility is excessive, Mr Yi said.

U.S. dollar and Stocks fall flat before U.S. jobs data

Investors on Friday head for safety as the U.S. dollar and world stocks markets fall flat before U.S. jobs data. It is said that the Federal Reserve will use that data to raise interest rates for the first time in nearly a decade.

In Europe, Germany's export industrial output dropped in June that caused Europe stocks inched down by 0.5%. Top-rated German bond yields were flat at 0.72%

The prospect of higher U.S. rates has sucked funds out of emerging markets. A slump by Chinese stocks and a rout in commodities has also hurt investor demand.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4% and set for its third straight weekly loss. Japan's Nikkei stock index was up 0.3%. The MSCI world index.

In currencies, the dollar index was unchanged at 97.81. The euro was also flat $1.0927 EUR= early in Europe.

Google Stocks Surges, help Nasdaq to close on record high

Last Friday Google stocks surges by 16% that helps Nasdaq setting a new record high. The 16% sudden increase in Google's publicly traded stock resulted to additional $65.1 billion in shareholder wealth, on paper.

Google's surge came after the search engine company reported quarterly earnings that exceeded analyst estimates for the first time since late 2013. The company's inability to hit the targets that steer investors had raised doubts about Google that had caused its stock to lag the rest of the market since the end of 2013.

Other players, Honeywell global Inc (HON) were up by 1.9% or $2.04 to $105.61. Yahoo, which holds a large stake in Alibaba, increased by 2%. Consumers remained upbeat about employment and wages. The railroad’s gain helped boost the Dow Jones Transportation Average by 0.7 percent.