LONDON (Reuters) - The use of machine-learning has picked up across the financial services industry, although problems such as data quality continue to dog its progress, a study by Refinitiv has found. FILE PHOTO: A chart is displayed behind a trader on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell in New York, U.S., March 26, 2019. REUTERS/Lucas Jackson/File Photo In a report, Refinitiv, the financial data provider, said more than 90 percent of the organizations it surveyed had either deployed machine-learning in multiple areas of the organization or have made a start in some pockets. Machine-learning refers to the use of algorithms and statistical models in financial markets without using human directions and instead relies on patterns to make choices. While the initial driver of such technologies was the automation of repetitive tasks, the survey found that the top applications were in the areas of risk avoidance, generating trading and … [Read more...] about Machine-learning on the rise in financial services: Refinitiv
Stock market on the rise
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Associated Press January 07, 2019 Stocks rose again Monday, led by gains by retailers and smaller companies, after a report showed strong orders last month for service-sector companies, where most Americans work. Investors were also encouraged by the resumption of trade talks between the United States and China.That helped stocks build on the huge gains they made Friday. The US economy has been a top concern for investors over the last three months, and the strong report on service companies showed that banks and health care and construction companies were holding up well.Dollar stores and other retailers, clothing companies, and car makers all climbed. Amazon surpassed Microsoft to become the most valuable publicly traded company. The two-day gain followed a huge pullback Thursday, when a weak report on manufacturing helped send large multinational companies … [Read more...] about Stocks climb on trade talks, encouraging economic report
WASHINGTON -- U.S. employers dramatically stepped up their hiring in December, adding 312,000 jobs in an encouraging display of strength for an economy in the midst of a trade war, slowing global growth and a partial shutdown of the federal government. The Labor Department said Friday that the unemployment rate rose slightly to 3.9 percent, but that reflected a surge in jobseekers-- a positive for growth. Average hourly pay improved 3.2 percent from a year ago, up from average wage growth of 2.7 percent at the end of 2017. The jolt in hiring offers a dose of reassurance after a tumultuous few months as the outlook from the financial markets has turned decidedly bleaker. Job growth at this pace is a sign that the economy will continue to expand for a 10th straight year, even if overall growth slows somewhat because of the waning stimulus from President Donald Trump's tax cuts. Although employers are showing their confidence, the financial markets have become increasingly worried. … [Read more...] about U.S. employers dramatically stepped up hiring in December and average hourly pay is on the rise
Trista Kelley, provided by Published 12:16 am PST, Monday, December 31, 2018 Paramount Big fund managers tend to blame algorithmic trading when things go haywire in the stock market. But there are other factors adding complexity to this argument: A boom in disparate trading platforms makes price discovery difficult, and low trading volume. "The electronification era remains one of the lowest-volatility periods on record despite the rise of high-frequency trading," according to trading news site Curatia. No, machines aren't causing all these wild stock market swings. The wild swings and see-sawing of markets these last few days was unprecedented in many ways. But one aspect of the week ended up being very predictable: Like clockwork after any sudden jolt and market event, big investors come out and point the finger at algorithms. The argument goes something like this: Electronic trading programs feed off each other to cause an "invisible herding effect" that … [Read more...] about Stop blaming the machines. Algorithms aren’t causing the wild stock market swings.
Stocks wavered between small gains and losses on Friday, struggling to maintain the momentum from a two-day winning streak following a week of volatile trading. The Dow dropped 76 points, or 0.3 percent, to 23,045. The S&P 500 index fell 3 points, or 0.1 percent.On Thursday the Dow erased a 600-point loss and finished with a gain of 260 points. The swing was indicative of the volatility that has gripped the stock market throughout December. Investors have been spooked by President Donald Trump's criticisms of the Federal Reserve, as well as issues such as slowing global growth. Mr. Trump has made the stock market a key barometer of his success, pointing to its strong performance earlier this year as proof his policies are working. As the stock market swooned, he has repeatedly attacked the U.S. central bank for raising interest rates, calling it his "biggest threat" and describing it as "out of control." Friday witnessed its own fluctuations, though less dramatic than … [Read more...] about Stocks decline on Friday, capping a volatile week