Agosto 13, 2020

Gary Cohn staying on Team Trump despite battles with Bannon

20 Agosto 2017, 10:33 | Azura Castelo

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"The concern would be if Gary Cohn would decide that if he needs to take a safe step that a lot of CEOs did, it will be very hard to move forward with pro-growth tax reforms", said Art Hogan, chief market strategist at Wunderlich Securities.

For the week, the Dow was down 0.8 percent, the S&P 500 was down 0.7 percent and the Nasdaq fell 0.6 percent.

And on Friday, billionaire Carl Icahn became the latest executive to abdicate his position, tweeting: "Today, with President Trump's blessing, I ceased to act as special advisor to the President on issues relating to regulatory reform. informal role as special advisor to the president on issues relating to regulatory reform".

Investors were rattled over rumours regarding Economic Adviser Gary Cohn's future

Adding to investor concerns was news that a van had slammed into crowds in the Spanish city of Barcelona, killing 13 people, in an incident police labelled a terrorist attack. The euro inched against U.S. dollar on Friday as the exit of senior White House adviser Stephen Bannon, known for his economic nationalist views, weakened the greenback against basket of major currencies.

That drove investors into the traditional security of the yen, with worries about another attack claimed by Islamic State in Barcelona feeding into the rising uncertainty.

Deere's 6.25 percent fall was the biggest drag on the industrial sector after the farm equipment maker reported a second straight quarter of lower-than-expected sales.

Bitcoin, which hit an all-time high of $4,480 in the previous session before closing lower, inched up 0.2 percent to trade at $4,285, up 17.6 percent this week.

The dollar fell 0.2 percent to 109.33 yen, pulling further away from this week´s high of 110.95 yen that had been set on Wednesday. Two of the three measures of core inflation that the Bank of Canada introduced past year saw gains, Statistics Canada said.

US -listed shares of Infosys Ltd.(500209.BY) slid 7.2% after Vishal Sikka on Friday resigned as chief executive (

Cisco shares dropped after the company posted revenue that missed the mark and gave an outlook that also disappointed.

On an upbeat note in Friday's earnings, Estée Lauder Cos.(EL) climbed 7.7%.

The Australian share market closed lower yesterday. The dollar index, which tracks the greenback against six major currencies, rose 0.35% for the week.

Gold, seen as a safe haven by investors, jumped 0.4pc to $1,288.68 an ounce.

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