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The US Dow Jones Index dropped over 1000 points on the open today amid extreme volatility in the markets as the Shanghai Composite Index finished it's trading session down 8.5% at 3209.91. The slowdown in the Chinese economy is having huge repurcussions not only in equities which have seen a massive correction across the board in commodities too. Both Europe and the US are feeling the heat; FTSE100 is currently down 4.5%; CAC down 7% & Dax off 6%. US Crude Oil has extende…

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Facebook Inc - setting foundations to flourish The questions were always could they monetise the vast traffic and global dominance...and it seems they can. However we still need to put the performance into perspective. Since Facebook’s IPO in May 2012, it has fallen 10% whilst the Nasdaq and Google have risen 29.7% and 47.9% respectively. Facebook today closed at $34.61, up $7.85 or 29.61%.…

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US Exchanges are expected to reopen as normal today at 9:30am (ET), following the closure for two days due to hurricane Sandy. The storm has caused considerable destruction and devastation across the North Eastern coast of the US. It is estimated that there has been over 40 deaths and the cost is expected to exceed $10bn. Transportation across the region has come to a standstill as trains and busses were halted and flights grounded to avoid the storm. Sectors to watch are the insurance, indu…

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**US Exchanges will be closed again today due to Hurricane Sandy, this means that Abshire-Smith clients are unable to trade US Indices** Headlines UBS shares rally after announcement of cost cutting , with the loss of 10,000 jobs in the investment bank Direct Line cuts 70 jobs in senior management as part of £100m cost saving plans by 2014 New Look has moved to reassure suppliers over its financial position, following an industry blog stating it was poised to en…

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The NYSE and Nasdaq trading will be halted for trading today, for the first time in 27 years due to Hurricane Sandy. Evacuation orders have been put in place in low lying coastal areas on the North East of the United States due to the risk of flooding. The NYSE has revised its initial release that it was to close physical floor trading, to cease all trading on Monday and possibly Tuesday. Headlines Bank of England’s Spencer Dale has warned that Britain is heading into a sha…

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