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JPM
Economists Downplay Indicators That Say U S Recession Is Coming
Bloomberg Market based recession indicators are flashing red To some economists they re better left ignored At the moment that s easier said than done Among a slew of gauges maintained by JPMorgan Chase Co NYSE JPM one based on stocks and credit spreads puts the probability of a recession in the next 12 ...
JPM
U S consumer sentiment at two year low manufacturing rebounds
By Lucia Mutikani WASHINGTON Reuters U S consumer sentiment tumbled in early January to its lowest level since President Donald Trump was elected more than two years ago as an ongoing partial shutdown of the federal government and financial market volatility stoked fears of a sharp deceleration in economic growth ...
JPM
JPMorgan Favors Petrobras Over Vale in Battle of Brazilian Stocks
Bloomberg For investors looking to get in on the equity boom in Brazil via commodity titans Vale or Petrobras JPMorgan NYSE JPM has some ideas about the best bet The bank examined output growth costs capital expenditure profitability free cash flow valuation and the outlook for commodities Its conclusion...
JPM
Shutdown Deprives Data Dependent Fed of Data It s Dependent On
Bloomberg Just when the Federal Reserve most needs fresh data to keep its policy in sync with the U S economy the government shutdown is getting in the way Timely information on economic growth jobs consumer spending and inflation is always crucial to monetary policy making Now the longest shutdown on recor...
JPM
Dimon says U S China could get enough done to extend deal deadline CNBC
Reuters JPMorgan Chase Co N JPM Chief Executive Officer Jamie Dimon said on Wednesday the ongoing U S China trade war was serious but expects the countries to get enough done to extend a March 1 trade deal deadline U S President Donald Trump has vowed to increase tariffs on 200 billion worth of Chinese impo...
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Sterling Range Ahead
GBP USD Price was going as projected in our Mar 7 Article and as of this writing we have started deploying our range strategy for the sterling We have been with the bears and the bulls not favoring any camp though we must say trading range market is one of the most difficult endeavors and sterling is currently on...
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Earnings Watch Investment Bank Reports On Monday
Morgan Stanley Financials Capital Markets Reports April 18 Before Market Opens Key Takeaways The Estimize consensus is calling for EPS of 0 54 on 8 315 billion in revenue 8 cents higher than Wall Street on the bottom line and 535 on top Investment banking units have suffered from weak trading activity and slo...
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European Markets Up Ahead Of German ZEW Data
The stability in oil prices has strengthened attitudes among traders who are developing a strong appetite for riskier assets After an initial plunge in oil prices due to a failed meeting in Doha oil prices recovered remarkably and this has served as a signal that no more adverse news can cause any major dents for oil...
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Citi s Atiq Rehman appointed head of EMEA emerging markets business
DUBAI Reuters Citigroup Inc N C has appointed Atiq Rehman currently Middle East and Africa head at the U S bank as the head of the newly created EMEA Emerging Markets Cluster according to an internal email sent on Monday and seen by Reuters The new cluster will consist of three sub clusters Middle East an...
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Citigroup tempers net interest income guidance
Reuters Citigroup Inc N C said on Monday that it expects net interest income to be up between 3 and 4 for the year compared with prior guidance of 4 growth Speaking at the Barclays LON BARC Financial Services Conference Chief Financial Officer Mark Mason said the flattening of the yield curve and expe...
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Citigroup Says Gold May Top Record
Bloomberg Gold prices may rally to a record above 2 000 an ounce in the next two years according to Citigroup Inc NYSE C which gave a laundry list of positive drivers including rising risks of a global recession and the likelihood that the Federal Reserve will reduce U S interest rates to zero We expect...
JPM
The Interesting Trio EMB HYG JNK
I see that the brief recess we got from braggadocio is gone Not only that but he explicitly mentioned the stock market again as evidence of how great things are So yeah our time machine back to January 26 apparently works Anyway I wanted to turn our attention this Spring Forward morning to the three ETFs I find...
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British Labour leader Corbyn tells Morgan Stanley We re a threat
By Guy Faulconbridge LONDON Reuters Britain s opposition Labour leader Jeremy Corbyn warned Morgan Stanley NYSE MS that bankers are right to regard him as a threat because he wants to transform what he cast as a rigged economy that profits speculators at the expense of ordinary people Morgan Stanley cautioned ...
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Gladstone Commercial announces two purchases
Purchased were two office buildings one in Columbus OH and one in Salt Lake City for 37 6M The initial cap rate is 8 18 and the average cap rate 9 23 The properties are 100 leased with weighted average lease term of 8 6 years Morgan Stanley NYSE MS Smith Barney is the major tenant with 92 of the space ...
JPM
Palladium Pierces 1 400 in New Record Gold Treads Water
Investing com The lure of palladium and its importance to the auto sector is greater to precious metals investors than the shine of gold and the hedge the yellow metal offers to the world s political and financial troubles The spot price of palladium the auto catalyst metal preferred by investors compared to its si...
JPM
JPMorgan board raises Dimon s compensation to 31 million
NEW YORK Reuters JPMorgan Chase Co NYSE JPM CEO Jamie Dimon is receiving a 5 percent raise bringing his total compensation for 2018 to 31 million the company said in a filing on Thursday In setting the figure independent members of the JPMorgan board took into account the firm s strong performance in 201...
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Euro Forecast Ahead Of Upcoming ECB Meeting
In our past January 19th article Where is euro going next we explain the negative correlation between asset volatility and the euro When stock market declines the euro dollar goes up and vice versa The table below from Morgan Stanley NYSE MS confirms this inverse relationship We can see that other than the pe...
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FTSE Down Miners Reversed Early Gains
European markets lack direction this morning The FTSE found itself thrown into the hands of a confused market A very short lived rally followed the negative open as energy and materials gained on firmer oil and commodity prices Some profit taking is already underway An hour after the open all sectors in the FTSE ...
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US Crude Dips Below 37
US crude futures have posted losses on Tuesday trading at 36 92 a barrel in the North American session Brent crude futures are trading just above the 40 level at 40 10 In economic news the sole event on the schedule is the NFIB Small Business Index The indicator slipped to 92 9 points well below the estimate ...
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Bad News For Earnings
Markets are forecasting mechanisms and they typically shift into a weak technical profile for a reason One possible explanation for the concerning look of longer term charts is a sharp drop in earnings expectations for U S companies From Zack s Investment Research We now have three quarters of back to back negati...
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Fiscal And Monetary Madness And What To Do About It
Global Currencies Madness When central banks and politicians manage global currencies we can expect Exponentially increasing debt and currency devaluations Massive inflations and deflationary crashes Transfer of wealth from the many to the few Derivatives exceeding 1 000 Trillion and eventually a crash A mathe...
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Risky Assets Should Remain Supported By Yellen s Dovish Approach
Key quotes from the Morgan Stanley NYSE MS FX report Short USD Dovish Yellen means short USD for now Fed Chair Yellen s speech yesterday was notably dovish and has opened the door for further USD weakness in the short term upwards of 3 on a trade weighted basis we think While the market reaction to the March FOM...
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For the Roaring U S Dollar Factory Slowdown Is Just a Speed Bump
Bloomberg Even the first U S manufacturing contraction since 2016 can t keep the dollar down amid spiraling U S China trade relations and dim European economic prospects That s the view of analysts at firms including Societe Generale PA SOGN and TD Securities who expect the dollar to power past Tuesday s su...
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U K Retailers Earnings at Risk of 30 Drop in a No Deal Brexit
Bloomberg Follow Brexit sign up to our Brexit Bulletin and tell us your Brexit story U K retailers may see their earnings tumble as much as 30 in the event of a no deal Brexit according to Citigroup Inc NYSE C The companies may have to revisit their guidance in the event that the U K leaves the Europ...
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UBS hires former Credit Suisse star Khan as part of broader shakeup
By Brenna Hughes Neghaiwi ZURICH Reuters Switzerland s biggest bank UBS on Thursday appointed former Credit Suisse SIX CSGN manager Iqbal Khan to co lead its flagship wealth management business as part of a broader shake up of its executive board The appointment of Khan alongside two internal promotions mark ...
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Effort to disqualify lawyer part of U S campaign against Huawei counsel
By Karen Freifeld Reuters The effort to stop a former U S Justice Department official from representing Huawei is another step in a broader U S government campaign against the Chinese company a lawyer for Huawei argued on Wednesday Lawyer Michael Levy said the company has not been given any material information...
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Trump Can t Win Them All Neither Can Powell
Bloomberg Opinion Even if you re not the biggest fan of the Federal Reserve you have to feel a little sorry for Chair Jerome Powell As everyone involved in financial markets is acutely aware he and the central bank have been a favorite target of President Donald Trump s ire for months now And yet the latest T...
JPM
3 ETFs Worth Watching JNK HYG EMB
Here are three ETFs well worth watching I ve already shorted two of them today SPDR Barclays LON BARC High Yield Bond NYSE JNK Chart iShares iBoxx High Yield Corporate Bond NYSE HYG Chart iShares JPMorgan NYSE JPM USD Emerging Markets Bond NASDAQ EMB Chart
JPM
S P 500 One Month Hence
The inability of the stock market to hold a downtrend more than two days is driving me insane again It has been two years since there has even been a drop off lasting a couple of weeks It was just a month ago that we were in the throes of an all too brief bout of excitement But looking back it s evident that 90 ...
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Tribune Media 1 3 on word of 7M share Oaktree offering
Tribune Media NYSE TRCO shares have fallen 1 3 after hours after it announced a secondary offering of its class A common stock The company will sell 7M shares on an underwritten basis by a stockholder affiliated with Oaktree Capital Management to Morgan Stanley NYSE MS as the underwriter Tribune isn t selling...
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Japan October industrial output rebounds manufacturers see good times ahead
By Stanley White TOKYO Reuters Japan s industrial output rose less than expected in October but companies forecast production to rise strongly in November and December as robust overseas demand continues to support factory activity and broader economic growth The 0 5 percent increase in October was less than the ...
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Aviva to generate extra 4 billion of cash planning payback some MA
By Carolyn Cohn LONDON Reuters Aviva L AV expects to generate an extra 3 billion pounds 4 billion in cash over the next two years and will make acquisitions as well as giving money back to shareholders it said on Thursday sending its share price to three month highs Insurers and reinsurers among them All...
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Brexit is much ado about nothing Unicredit CEO
By Lawrence White and Huw Jones LONDON Reuters Britain s exit from the European Union will not have a major impact on European Banks or London s status as a major financial center the chief executive of Italian bank Unicredit MI CRDI said on Thursday Brexit is much ado about nothing Jean Pierre Mustier told ...
JPM
The White House now thinks the shutdown will be twice as bad for the economy than they originally thought
The federal government shutdown is hurting the US economy most economists agree The White House thinks that the pain is even worse than originally thought A White House official told INSIDER that after a change to the internal model the Trump administration now estimates the shutdown is taking 0 13 percentage point...
JPM
U S import prices fall year on year drop largest since 2016
By Lucia Mutikani WASHINGTON Reuters U S import prices fell for a second straight month in December as the cost of petroleum products tumbled and a strong dollar curbed prices of other goods leading to the largest year on year drop in more than two years The report from the Labor Department on Wednesday added to...
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Pound Rallies To The Bottom FTSE Down
The UK is watching the pound lose ground on Brexit risks and the rally toward the bottom is certainly not over The pound traded below the 1 40 mark against the US dollar for the first time in seven years while the euro pound surged to 0 78876 The Brexit risks continue weighing on the pound as leading names including...
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Explainer U S dollar intervention What would it take
By Saqib Iqbal Ahmed NEW YORK Reuters The strength of the U S dollar has long been a thorn in President Donald Trump s side That has put the almost unthinkable scenario of currency intervention up for debate in global foreign exchange circles Forcibly halting the U S dollar s strength would be a drastic step n...
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Argentine Markets Sink as IMF Lifeline Hangs in the Balance
Bloomberg Argentine bonds tumbled to new lows as the central bank s efforts to support the peso drain foreign currency reserves while a lifeline from the International Monetary Fund hangs in the balance Sovereign bond prices fell as much as 7 with euro denominated notes trading around 40 cents per euro and the ...
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U S officials defend new citizenship rules for some military families
By Jan Wolfe Reuters U S immigration officials on Thursday defended a new policy that ends automatic citizenship for some children born to U S citizens stationed abroad as government employees or members of the U S military saying it would only affect a handful of families every year It bears repeating that...
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Japan s curbs on high tech materials exports to South Korea could backfire
By Makiko Yamazaki and Heekyong Yang TOKYO SEOUL Reuters Japan s curbs on exports of high tech materials to South Korea could backfire in the long run eroding its dominance over a key link in the global chip supply chain suppliers and experts say Japan tightened restrictions last month on exports of three chipma...
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Britain s banks face 25 earnings hit from no deal Brexit Citigroup
LONDON Reuters Britain s banks face a hit of up 25 to their earnings if Britain crashes out of the European Union without a deal analysts at Citigroup N C said in a research note The economic slowdown that would result from a no deal Brexit as well as the likelihood of lower interest rates and borrowers def...
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ANZ Citi Deutsche cartel case inches ahead in Australia
SYDNEY Reuters An Australian magistrate shifted hearings to a larger room as a long awaited criminal cartel case against Australia and New Zealand Banking Group AX ANZ and the local units of Citigroup N C and Deutsche Bank DE DBKGn inched ahead on Tuesday Lawyers for each of the banks and individual exec...
JPM
Deutsche Bank To Settle Libor Manipulation Case For 240M
Per a Reuters article Deutsche Bank DE DBKGn Aktiengesellschaft NYSE DB has agreed to settle an antitrust case in the United States that accuses it of plotting with some other banks and manipulating the Libor benchmark interest rate The German bank is required to pay about 240 million despite denying of any wr...
JPM
Key ETF Levels That Matter DIA EEM EMB XOP XLU MDY JNK HYG
SPDR Dow Jones Industrial Average NYSE DIA Chart iShares MSCI Emerging Markets NYSE EEM Chart iShares JPMorgan NYSE JPM USD Emerging Markets Bond NASDAQ EMB Chart SPDR S P Oil Gas Exploration Production NYSE XOP Chart Utilities Select Sector SPDR NYSE XLU Chart SPDR S P MidCap 400 NYSE MDY ...
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U S Labor Department delays final part of fiduciary rule
By Elizabeth Dilts NEW YORK Reuters The U S Department of Labor issued an 18 month delay on Monday for key parts of its retirement rule including one that would require brokers to ask clients if they feel that accounts that charge commissions are in their best interests The Labor Department said the delay would ...
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Analysts raise Pure Storage price targets after earnings
Analysts make Pure Storage NYSE PSTG price target adjustments after yesterday s aftermarket earnings report Adjustments Maxim Group 20 was 18 Morgan Stanley NYSE MS 18 was 15 BofAML 22 was 19 Barclays LON BARC 19 was 15 UBS 22 was 18 Pure Storage sha...
JPM
As loans and revenue shrink Wells Fargo leans on cost cuts
By Imani Moise and Aparajita Saxena Reuters Wells Fargo NYSE WFC Co s loan book shrank and revenue fell across all its major businesses last quarter as the fourth largest U S lender continued to work through the consequences of wayward sales practices at its consumer bank Wells Fargo has struggled to regai...
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AUD USD Aussie Gains Ground On Positive Australian CPI Reports
The Australian dollar is showing limited movement on Wednesday as AUD USD trades at 0 7040 in the European session On the release front Australian CPI posted a gain of 0 4 above the estimate In the US all eyes are on the Federal Reserve which will release a policy statement and set the benchmark interest rate f...
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Crude Oil Choppy Ahead Of Fed Statement
US crude is choppy on Wednesday as crude futures are trading at 31 41 a barrel in the North American session In economic news US New Home Sales surged to 544 thousand well above expectations Crude Oil Inventories posted a surplus of 8 4 million much higher than the estimate All eyes are on the Federal Reserve ...
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Miners Lead FTSE Lower
Last week s surge in equities on the BoJ negative rate decision was confounding but is essentially old news this week It would seem that central bank impact is really beginning to lose its charm and the days of buying the dip on the back of stimulus expectations is no longer the winning strategy it once was We re bac...
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Citigroup BNP caught up in U S case against Huawei CFO documents
By Karen Freifeld NEW YORK Reuters U S based Citigroup Inc N C and French bank BNP Paribas PA BNPP are caught up in the U S criminal case against the chief financial officer of China s Huawei Technologies according to newly available documents The banks were named in documents released on Tuesday after ...
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Is the U S economy sinking or the strongest ever For the Fed no clear answer
JACKSON HOLE Wyo Reuters The U S Federal Reserve is under pressure from President Donald Trump to cut interest rates Investors expect the Fed to cut perhaps by a lot What s the holdup Perhaps more than at any time in the last few years the data flowing into the Fed isn t telling a clear story partly because...
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Mexico Central Bank Deputy Sees Room for More Interest Rate Cuts
Bloomberg A Mexican central bank board member on Tuesday said that he sees room for more interest rate cuts in the future after the first reduction in five years earlier this month With Mexico s key interest rate at 8 Banco de Mexico has room to relax monetary policy without completely unwinding its restrictive...
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Citi Sees a Bullish Break for Gold
Bloomberg Citigroup Inc NYSE C has raised the possibility gold may extend its impressive rally should it breach a technical level against a major U S equity market benchmark adding to positive commentary around the metal The ratio between bullion and the S P 500 Index is testing key pivots that extend up ...
JPM
Speculator Record Short On 10 Year Futures Short Squeeze Coming Up
JP Morgan s quantitative and derivatives strategy team warns of potential short squeeze in US treasuries Marko Kolanovic on JPMorgan NYSE JPM s quantitative team offers a word of warning to treasury bears When there is such a large short position there is always risk of profit taking or worse a proper short sq...
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HPE CEO Whitman s surprise exit stumps Wall Street
By Supantha Mukherjee Reuters Shares of Hewlett Packard Enterprise Co N HPE fell 6 percent on Wednesday after Chief Executive Officer Meg Whitman s decision to step down from the role took Wall Street by surprise Whitman one the most high profile executives in the United States said on Tuesday she would quit...
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Vanguard s Davis makes case for index funds even in tough times
By Ross Kerber BOSTON Reuters The rush of money into big index funds has raised concerns about whether they would still prove attractive in a downturn an issue taking on more importance especially for industry leader Vanguard Group Inc as its passive products soar in scale A common view is that while passive fund...
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Euro zone shares get PMI boost Centrica sinks
By Helen Reid LONDON Reuters European shares dipped on Thursday tracking more timid Wall Street trading as volumes thinned out for the Thanksgiving holiday while euro zone stocks drove higher boosted by strong business growth figures for the bloc The pan European STOXX 600 STOXX slid 0 2 percent while euro z...
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Euro up for a third day as outlook brightens
By Saikat Chatterjee LONDON Reuters The euro rose for a third consecutive day on Thursday after breaking through a key technical level when a flurry of European business surveys pointed to a strengthening growth outlook for the region Surveys covering both the services and manufacturing industries in Europe outsho...
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Samsung Electronics shares drop after Morgan Stanley cuts view sees chip boom peaking
By Joyce Lee and Dahee Kim SEOUL Reuters Samsung Electronics Co Ltd s KS 005930 shares fell more than 4 percent to a one month low on Monday after Morgan Stanley NYSE MS cut its recommendation on the South Korean tech giant citing concerns that a boom in memory chips is likely to peak soon A so called memor...
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UBS exits recruiting pact following Morgan Stanley
By Elizabeth Dilts NEW YORK Reuters UBS Group AG s Wealth Management Americas said on Monday it was quitting a 13 year old recruiting agreement that ended the practice of suing brokers who quit for jobs at competing firms following a similar move by rival Morgan Stanley NYSE MS last month In an email to the ...
JPM
JP Morgan Q4 Results Miss Forecasts as Volatility Hits Bonds Business
Investing com Shares in JPMorgan Chase Co moved lower in premarket trade on Tuesday after a weak end to the year in its bond and currency trading business made its fourth quarter revenue and earnings miss analysts estimates The largest U S lender reported revenue of 26 8 billion just below expectations for 26...
JPM
Wells Fargo s Cost Cuts Save Q4 Bottom Line as Revenue Drops
Investing com Wells Fargo Co NYSE WFC missed revenue forecasts but its fourth quarter earnings beat analysts expectations on Tuesday as the company cut its operating costs and risk provisions The firm reported earnings per share of 1 21 on revenue of 20 98 billion Analysts polled by Investing com forecas...
JPM
JPMorgan just posted its worst bond trading results since the financial crisis
JPMorgan s fourth quarter results missed estimates on lighter than expected corporate and investment banking revenue and expenses that came in slightly higher than analysts average estimate Bond trading was particularly bad with the bank posting the worst results since the end of 2008 Rival Citi JPMorgan Chase ...
JPM
Weak U S producer prices support tame inflation picture
By Lucia Mutikani WASHINGTON Reuters U S producer prices dropped by the most in more than two years in December as the cost of energy products and trade services fell adding to signs of tame inflation that may allow the Federal Reserve to be patient about raising interest rates this year Other data on Tuesday su...
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Oil Sinks Lower FTSE Treads Water
On a morning where RBS L RBS releases a note that cries sell everything and warns of a global deflationary crisis it s a wonder equity markets are holding up at all today US markets ended up mostly higher overnight following a late afternoon bounce while Asian markets were mostly lower with the Nikkei 225 underper...
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Plunging Oil And Looming Bankruptcies
The plunge in the oil price is raising more fear of U S energy bankruptcies and the United Arab Emirates UAE are dancing on our graves The Wall Street Journal Is reporting that one third of U S energy producers will go bankrupt as the UAE oil minister says that the OPEC strategy is working The shale revolution is...
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The Oil Crash Of 2016 Has The Big Banks Running Scared
Last time around it was subprime mortgages but this time it is oil that is playing a starring role in a global financial crisis Since the start of 2015 42 North American oil companies have filed for bankruptcy 130 000 good paying energy jobs have been lost in the United States and at this point 50 percent of all e...
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Investors Are Worrying About Hong Kong Banks as Protests Roll On
Bloomberg Investors are getting anxious about the impact anti government demonstrations are having on Hong Kong s banks Things will be going down if people start seeing Hong Kong which is an international financial center differently said Ronald Wan CEO of Partners Capital International Ltd There will be ...
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Hedge Funds Throw Heft Behind 2019 s Best Performing Currency
Bloomberg The yen s dominant 2019 rally has finally caught the attention of hedge fund managers Speculators haven t been this bullish on the yen since November 2016 Commodity Futures Trading Commission data show Before early this month the group had been short Japan s currency for more than a year but they ve...
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Lira Takes a Hit as Dollar Strength Catches Up With Turkey Bulls
Bloomberg The strength of the U S dollar is finally catching up with the lira After a rally that saw the Turkish currency buck an emerging market rout over the past few months as the dollar gained the lira is back to leading losses It slumped as much as 1 5 to a one month low of 5 7485 against the U S curren...
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DBS Bank to enter India s credit card market next year
By Nupur Anand MUMBAI Reuters Southeast Asia s biggest bank DBS Group Holdings SI DBSM is preparing to enter the local credit card market in India in 2020 a senior company executive said on Tuesday The Singapore based lender s move highlights its efforts to tap growth outside its home market to offset weakness ...
JPM
JP Morgan Launches Emerging Market Bond ETF
JP Morgan launched a new fund JPMorgan NYSE JPM USD Emerging Markets Sovereign Bond ETF on Jan 30 2018 focused on providing long exposure to emerging market bonds Emerging market USD denominated bond funds offer great diversification benefit as it is well spread out between multiple emerging market nations It...
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Analysts flee Wall Street with gallows humor as research changes loom
By Olivia Oran Reuters Having covered financial stocks at big and small banks for more than two decades David Hilder was accustomed to the ebb and flow of Wall Street job cuts and hiring sprees But he threw in the towel as an analyst last year after deciding customers simply will not pay what it costs to produce ...
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Vivendi s music unit UMG worth more than 40 billion CEO says
By Mathieu Rosemain and Sophie Sassard BARCELONA LONDON Reuters Vivendi s Universal Music Group UMG could be worth more than 40 billion Chief Executive Arnaud de Puyfontaine said on Friday helping buoy shares in the French media group following third quarter results where UMG was a highlight Vivendi PA VIV...
JPM
Forex Dollar Subdued Despite Sterling Giving Up Gains Ahead of Key Brexit Vote
Investing com The dollar edged lower Monday even as the pound gave up most of its gains ahead of a vote on UK Prime Minister Theresa May s Brexit deal The U S dollar index which measures the greenback against a trade weighted basket of six major currencies fell by 0 09 to 95 18 May s Brexit deal is widely expe...
JPM
JPMorgan Chase Q4 2018 Earnings Preview
JPMorgan Chase NYSE JPM is scheduled to announce Q4 earnings results on Tuesday January 15th before market open The consensus EPS Estimate is 2 21 25 6 Y Y and the consensus Revenue Estimate is 26 9B 5 7 Y Y Early in December JPMorgan said trading results are roughly equivalent to the year ago level C...
JPM
Wells Fargo Q4 2018 Earnings Preview
Wells Fargo NYSE WFC is scheduled to announce Q4 earnings results on Tuesday January 15th before market open The consensus EPS Estimate is 1 20 3 4 Y Y and the consensus Revenue Estimate is 21 75B 1 6 Y Y The focus will be on what further steps are being taken to strengthen the bank after its string of s...
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30 Point Gain In Gold
Specific to gold s 30 point 2 8 gain this past week in the spirit of our oft referring to the otherwise foundationless fluff of fiat monies as bow wow currencies we rightly ask Who let the dogs out Baha Men 2000 Answer A couple of entities really The first was the International Monetary Fund which ...
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Monetary Policy Divergences And The Stock Market
This week s central bank speak fest and the December decisions were just the beginning of the divergence though Whilst we expect the Fed to hit the pause button after its first hike and only raise rates again in June we expect a total of 200bp of US rate increases between now and the end of 2017 Meanwhile we exp...
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JNK Plummets To 34 44
The extreme carnage that we are witnessing in the junk bond market right now is one of the clearest signals yet that a major U S stock market crash is imminent For those that are not familiar with junk bonds please don t get put off by the name They aren t really junk They simply have a higher risk and thus a ...
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Do You Have To Settle For Mediocre Returns In The Stock Market
Morgan Stanley surprised everyone or at least tried to by stating that it was no longer going to be easy to make money in the equity markets Let s stop right there was it ever really easy If it were everyone that jumped into the markets would be wealthy instead the opposite is true Right of the bat we can stat...
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Fed A Creature Of Financial Markets The Draghi PUT
Creature of Financial Markets Stephen Roach former Chairman of Morgan Stanley N MS Asia and the firm s chief economist blasts the Greenspan Fed the Bernanke Fed and the Yellen Fed in his latest post After an extended period of extraordinary monetary accommodation the US Federal Reserve has begun the long march...
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Medina Mora powerful Citigroup exec who battled scandals dies at 69
MEXICO CITY Reuters Manuel Medina Mora one of the most influential Mexican bankers to work on Wall Street during a long career at Citigroup Inc N C has died the bank s Mexican unit Citibanamex said on Wednesday He was 69 Citibanamex said Medina Mora died of amyotrophic lateral sclerosis a form of motor ne...
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Nickel Proves It s the Wildest Metal With Sudden 2 000 Spike
Bloomberg Nickel has long had a reputation as the most volatile base metal but its biggest daily jump in a decade has left even the most seasoned traders astonished The metal spiked as much as 13 or almost 2 000 a ton in thin Asian morning trading extending a rally over the past month triggered by rumors th...
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HSBC Greater China chief Wong leaves for external role
By Sumeet Chatterjee HONG KONG Reuters HSBC Holdings L HSBA Greater China Chief Executive Helen Wong is leaving a bank spokeswoman said on Friday the second senior departure this week after the ousting of group CEO John Flint Wong has decided to leave to pursue an external opportunity the spokeswoman said a...
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Recession Warnings Pile Up for the Battered Global Economy
Bloomberg Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars Sign up here Another day another round of bad news highlighting the risk that the global economy is headed for a serious downturn China reported the weakest growth in industrial output since 2002 Germany s economy ...
JPM
Mitsubishi UFJ To Pay 30M To Resolve Yen LIBOR Rigging Case
Mitsubishi UFJ Financial Group Inc s NYSE MTU two units have agreed to settle the anti trust case in the United States related to manipulation of the benchmark yen Libor and Euroyen Tibor rates The news was reported by Reuters Mitsubishi UFJ denying any wrong doing will be paying 30 million for the settlement...
JPM
Is JPMorgan Large Cap Growth A OLGAX A Strong Mutual Fund Pick Right Now
Large Cap Growth fund seekers should consider taking a look at JPMorgan NYSE JPM Large Cap Growth A OLGAX holds a Zacks Mutual Fund Rank of 2 Buy which is based on nine forecasting factors like size cost and past performance ObjectiveOLGAX is classified in the Large Cap Growth segment by Zacks an area full of...
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Hedge Funds Fingered as Sellers as Japan Stock Rout Deepens
Bloomberg In one telling the selloff in Japanese equities is a natural reaction to shares rising too far too fast But another theory is emerging one that involves hedge funds For Noriyuki Sato of Asset Management One SP Pte one reason for the declines is that hedge funds and others are closing their books fo...
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Vodafone Data expertise will help avoid Italy price war
Vodafone LON VOD VOD 0 6 will be able to avoid an India style price war in its Italy operations thanks to expertise in customer data according to CEO Vittorio Colao The company s facing a hotter market in Italy thanks to low cost French entrant Iliad OTCPK ILIAY which is pursuing a 25 share on price compet...
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ASML expects to announce new share buyback plan in January CFO
By Eric Auchard and Toby Sterling BARCELONA Reuters Dutch semiconductor equipment supplier ASML is currently buying back its own shares and expects to announce a new buyback program in January its finance chief said on Thursday Speaking at the Morgan Stanley NYSE MS European Technology Media and Telecoms conf...
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T Mobile to roll out U S 5G network by 2020
BARCELONA Reuters T Mobile US the third largest U S mobile operator will roll out its fifth generation network across the United States by 2020 Chief Technology Officer Neville Ray said on Thursday We are committed to roll out 5G across the nation by 2020 Ray said at the Morgan Stanley NYSE MS European...
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T Mobile US to propose significant share buyback
By Douglas Busvine BARCELONA Reuters T Mobile US will propose a significant share buyback that could start in December CFO Braxton Carter said on Thursday a sign that the third biggest carrier in the United States is confident in its outlook after the collapse of a merger with Sprint Corp T Mobile s shares hav...
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Hammond Is Said to Leave BOE s Inflation Target Index Unchanged
Bloomberg U K Chancellor of the Exchequer Philip Hammond doesn t plan to change the inflation gauge that the Bank of England targets in the Budget next week according to two officials familiar with the matter While there has been speculation of a switch from CPI after the Office for National Statistics changed ...
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SAP sees margins flattening out in fourth quarter CFO
By Douglas Busvine and Eric Auchard BARCELONA Reuters Europe s biggest technology company SAP DE SAPG expects profit margins to flatten out during the fourth quarter after three years of declines with improving margins to begin to show up in 2018 Chief Financial Officer Luka Mucic said on Friday The German sof...
JPM
In the Riskiest Corners of the Stock Market Exuberance Is Back
Bloomberg Investors are throwing down the gauntlet to anyone who pronounced the last rites for stock bulls in the grip of the December meltdown Spurred by reassuring signals on trade monetary policy and growth the S P 500 jumped 2 5 percent last week after staging its biggest 10 day rally in a decade As money...
JPM
Former banking executive Walter Shipley dead at 83 JPMorgan Chase
Reuters Walter Shipley a former banking executive credited with helping spur a series of mergers that led to the creation of JPMorgan Chase N JPM has died at age 83 the company said on Saturday Shipley was a critical force behind what is now JPMorgan Chase Chief Executive Officer Jamie Dimon said in a note...
JPM
ACWA considers supporting solar panel manufacturing in Saudi
By Stanley Carvalho ABU DHABI Reuters ACWA Power is considering supporting the manufacturing of solar panels in Saudi Arabia its chief executive said as the power and water plants developer seeks to facilitate Saudi Arabia s plans to develop its renewable power industry Riyadh based ACWA Power partly owned by S...
JPM
MarketPulse Citigroup Rallies Despite Reporting Mixed Fourth Quarter
Investing com Citigroup NYSE C soared on Monday driving broader gains in financial stocks even though its fourth quarter results were a mixed bag its earnings beat forecasts while revenue missed Citigroup reported earnings of 1 61 a share topping expectations for earnings of 1 55 a share while revenue of ...