Financial Markets
Top stories summarized by our editors
4/24/2019

The S&P 500 and Nasdaq were at record highs when stock market trading ended Tuesday. The rally was touched off by earnings growth reported by widely followed blue chip stocks, such as Coca-Cola and United Technologies, that topped analysts' forecasts.

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MarketWatch, CNN
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Coca-Cola, United Technologies
4/24/2019

European Central Bank council member Benoit Coeure says Europe's banks must take responsibility for managing the downside posed by ECB's negative interest rate policy. Coeure said he sees no policy justification for adopting a system of tiered interest rates and that banks should focus on reducing their costs to restore profitability.

4/24/2019

Public debt levels increased in both Italy and Greece last year, according to the European Union statistics office. Greek public debt reached 181% of GDP, while Italy saw its debt burden hit 132% of GDP at a time when overall debt levels across the eurozone fell.

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Reuters
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European Union, eurozone
4/24/2019

Deutsche Bank and UBS group have been engaged in serious discussions to secure a merger between their respective asset-management businesses, sources said.

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Deutsche Bank, UBS
4/24/2019

British-based banks must still meet the European Central Bank's timeline for beefing up their EU operations despite the Brexit date's being pushed back until 31 October, sources say. Some banks that fell behind are reportedly using the Brexit delay to complete moves to their new EU hubs.

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Reuters
4/24/2019

UK Financial Conduct Authority chief executive Andrew Bailey said Britain's post-Brexit approach to regulation should be up for debate, noting that equivalence with the EU should be outcomes-based rather than rules-based. Bailey said that "left to our own devices, the UK ... would construct financial conduct regulation in a rather different way".

4/24/2019

US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will meet with Chinese Vice Premier Liu He in Beijing on 30 April to continue high-level trade negotiations between the two countries.

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CNBC
4/24/2019

Some proprietary traders and market-makers are trading cryptocurrency derivatives instead of spot transactions in order to perform more relative value trading, according to Trading Technologies Vice President of Cryptocurrencies Michael Unetich. He says there has been a big increase in cryptocurrency derivatives volumes over the past year.

4/24/2019

Automated trades at CME exchanges saw a sharp increase last year, accounting for two-thirds of livestock futures and 91% of currency futures, a Commodity Futures Trading Commission study shows.

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CFTC
4/24/2019

The Justice Department has dropped all charges against Chicago-area computer programmer Jitesh Thakkar instead of seeking another trial after a judge declared a mistrial in the spoofing case. Thakkar was the first non-trader charged under anti-spoofing laws for developing software that a London trader used to spoof the market in the May 2010 "flash crash."