Daily Market Update

Daily Market Update

Daily Market Update Markets see recovery despite geopolitical unrest
While the situation in Iraq seems to be escalating, the possibility of continued talks over Gaza and less tension in Ukraine have seen a positive start to the world’s markets. Although month-on-month figures show indexes down on July, an increase in appetite for risk has tempted investors away from the safe havens and back to equities, at least for now. Caution remains of course, but with an easing of hostilities with Russian and Ukraine and the present stable risk for the oil supply chain from Iraq, Europe and Asia have seen some more positive trading today. US stocks closed higher on Friday and futures are up this morning.
 
Today’s data
Priceline and Sysco both report before the opening bell with American Apparel, which has had an interesting few months, posting its results after the close.
 
US companies making the bucks, but not using it for hiring
Data analysis by Reuters has found that while big US companies are seeing increases in revenue, they are not creating employment at the same rate. Technology and globalisation are among the reasons and while many of the big firms are hiring, it is not clear if those jobs are here or overseas, although information seems to suggest the latter. Although employment data has seen some positive numbers, more growth is needed in the labor market and a lack of energy in wage increases is a worry. Read the full story.
 
Buzzfeed valued at $850 million
If you thought Buzzfeed was all about humorous (although not always) lists of ‘how to tell if your cat wants to kill you’ and ’17 things we miss about the 90s’ then think again. It’s also very much about becoming a large media business. Having just secured $50 million of investment from Silicon Valley venture capital firm Andreessen Horowitz, Buzzfeed would seem to be valued at $850 million. The firm will today announce plans for growth, made possible by the new injection of cash. It will add new content sections to the website, invest in new technology, look at acquisitions and boost its video arm. While Google and Facebook dominate in mobile advertising, it’s this lower level of media and tech company that could be the exciting story for investors. Read the full story.