Need to Know US Market Before open - What Thinking Person
US markets are expected to open up today, with what’s a quiet day for economic data and a record close yesterday. Futures suggest this will be built on. - 28 may 2014
Weekly mortgage application numbers showed a 1.2 per cent fall last week, following three weeks of gains.
The economics calendar is busier tomorrow, with pending home sales and another GDP estimate out.
Corporate news
Goldman Sachs has slashed its number of fixed-income trading staff by 10 per cent since 2010, its president and chief operating officer, Gary Cohn, said today.
He added, speaking to a conference, that the most significant thing impacting the bank’s trading is the economic climate, not new regulation and capital requirements.
Meanwhile, Bob Steel, ex-deputy mayor of New York and vice-chairman of Goldman it to become chief executive of boutique investment bank Perella Weinberg.
Medical device company Stryker is working on a takeover bid for UK firm Smith & Nephew.
And Veleant’s improved its takeover proposition for Allergan, which says it’ll consider the proposal.