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4 Trade Ideas For Citigroup
Citigroup NYSE C C made a top in September and then started lower It paused in November and then continued lower in December After finding a bottom it built a V shaped recovery getting back to the November levels quickly But then it paused and consolidate for nearly 3 months before breaking resistance and mo...
JPM
Sterling Marches Higher For Now
Wednesday July 20 Five things the markets are talking about Capital markets are on the move despite the waiting game for monetary policy direction from Tier I central banks over the next few weeks ECB tomorrow In yesterday s session the Dow ended slightly above its record high close for the sixth consecutive day ...
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Oil falls further under 50 on Asia demand concern
By Ahmad Ghaddar LONDON Reuters Oil fell on Monday over signs that U S shale drillers have adapted to lower prices and on renewed indications of economic weakness in Asia where refiners are already trimming crude runs Brent crude LCOc1 was trading at 46 43 per barrel at 1205 GMT down 33 cents from its last se...
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Yen gives up post Brexit gains as Japan stimulus hopes boosts risk
By Anirban Nag LONDON Reuters The safe haven yen hit a more than two week low against the dollar on Tuesday and fell 1 percent versus the euro as a weekend election victory by Japan s ruling coalition fanned expectations of more stimulus and bolstered risk sentiment Gains in global stock markets saw investors cu...
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Sterling firm with eyes on new prime minister s Brexit view
LONDON Reuters Sterling was firmer on Wednesday trading near a two week high against the euro as Theresa May was set to take over as Britain s prime minister easing some of the political uncertainty that has dogged the currency in the past few weeks Traders will keep an eye on who will be appointed as finance mi...
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Japan government advisers shun fiscal discipline open door to new debt
TOKYO Reuters Private sector members of the Japanese government s top advisory council said a fiscal discipline target for 2018 should not lead to excessive spending cuts as they opened the door to new debt issuance to fund stimulus The proposal comes after Prime Minister Shinzo Abe laid out plans for bold spend...
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How U S election outcome could affect Fed chair appointment
Investing com In a preliminary report on possible outcomes for the U S elections released on Wednesday Morgan Stanley NYSE MS evaluated the possible impact the results could have on the Federal Reserve Fed chair Janet Yellen and examined possible replacements These experts used a mix of polling data to point...
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Alibaba s Singles Day sales event coming Saturday could top 24B in sales
Alibaba s NYSE BABA Singles Day event happens this Saturday Last year the event brought in 17 8B Citigroup NYSE C estimates 2017 sales of 24B Alibaba originally marketed the event as a way for single people to treat themselves thus the Single s Day name Over 60K global brands will par...
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Kura moves up ahead of Investor Day shares up 9
Kura Oncology KURA 9 3 has perked up over 18 since Wednesday albeit on lackluster volume Next Thursday November 16 the company will host an Investor Day during which management will provide a comprehensive overview of lead candidate tipifarnib in head and neck squamous cell carcinoma Yesterday Citigroup NY...
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Breakup of Saudi Russian Bromance Would Collapse Crude Prices
Bloomberg The Saudi and Russia led supply limits that have lifted crude to a 2 1 2 year high must be prolonged for an extended period or prices will collapse said Ed Morse global head of commodities research at Citigroup Inc NYSE C Investors already are assuming OPEC and its allied producers will agree at ...
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Citi UBS Are Said Among Banks Most Exposed to Saudi Rich
Bloomberg Citigroup Inc NYSE C and UBS Group AG are among international banks managing the largest share of assets for wealthy Saudis some of whom are being investigated as part of a government probe into alleged corruption according to people familiar with the matter JPMorgan Chase Co NYSE JPM and C...
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USD JPY Near 4 Month High With BOJ On Hold
BOJ keeps rates asset purchases unchanged The Bank of Japan kept its benchmark rate unchanged at 0 1 and the JGB yield target at zero percent as expected It also left asset purchases at annual pace unchanged at 80 trillion yen J REIT purchases at 90 billion yen and ETF purchases at 6 trillion yen In the outlook ...
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The Daily Fix The World s Central Banks Continue To Shift In Alignment
The almost universal global central bank push to a more dovish structure has been given further momentum with a cohesive message delivered in a 24 hour period by the PBoC Swedish Riksbank the BoJ and Bank of Canada Inflation and inflation expectations are at the heart of the thought process now and the result of t...
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Oil eases as weak demand tempers bullish Saudi energy minister comments
By Ahmad Ghaddar and Catherine Ngai LONDON CALGARY Reuters Global oil prices eased on Monday after comments by Saudi Energy Minister Khaled Al Faleh that the market was heading toward balance were tempered by slowing demand in Asia pockets of gasoline oversupply and signs crude output could rise Brent crude futu...
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Twinkies maker Hostess to go public under new owner
By Lauren Hirsch and Siddharth Cavale Reuters Hostess Brands LLC the maker of Twinkies and Ding Dongs said on Tuesday it will be bought in a 725 million deal by an affiliate of private equity company Gores Group which will then take it public The Kansas City Missouri based snack cake company which was founde...
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Siris Capital to buy Polycom thwarting Elliott s Mitel merger
By Michael Flaherty and Narrotam Medhora Reuters Video conferencing equipment maker Polycom Inc said it agreed to be bought by a private equity firm for about 1 7 billion scrapping a three month old deal with Canada s Mitel Networks Corp The private equity firm Siris Capital Group offered 12 50 a share in cas...
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Japan Abe orders new stimulus package after election win
By Stanley White and Tetsushi Kajimoto TOKYO Reuters Japanese Prime Minister Shinzo Abe ordered a new round of fiscal stimulus spending after a crushing election victory over the weekend as evidence mounted the corporate sector is floundering due to weak demand Abe did not give details on the size of the package ...
JPM
Global stocks stay subdued as dollar edges higher
By Marc Jones LONDON Reuters A stronger dollar and slightly higher global borrowing costs kept world shares subdued on Friday and left gold limping toward its worst week since December Europe s main London Frankfurt and Paris markets 0 INDEXE barely budged in early moves keeping MSCI s 47 country world index...
JPM
Wall Street Optimism Returns As Correction Seems Like Blip
Investing com Just weeks after the stock market correction Wall Street firms are sounding bullish about stocks again JPMorgan Chase NYSE JPM reiterated its 3 000 price target for the S P 500 saying its not the time to sell stocks The firm also said that rising interest rates do not pose a risk to stocks at this ...
JPM
Time to Sell Cyclical Stocks Not Yet Say JPMorgan Strategists
Bloomberg Equities linked to economic growth are roundly beating those seen as less sensitive and the crowded trade still has a bit to go according to JPMorgan Chase Co NYSE JPM The strategy of going long cyclicals and short defensives hasn t yet peaked but we are getting close the bank s equity strateg...
JPM
Fed May Be More Aggressive Than FOMC Minutes Suggest
The Investing com Federal Reserve is now clearly committed to raising interest rates on a regular basis The minutes of its January FOMC policy committee meeting made that abundantly clear Fed members agreed that a stronger outlook for economic growth warrants further gradual increases in its federal funds rate And...
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Future Saudi king tightens grip on power with arrests including Prince Alwaleed
By Stephen Kalin and Katie Paul RIYADH Reuters Saudi Arabia s future king has tightened his grip on power through an anti corruption purge by arresting royals ministers and investors including billionaire Alwaleed bin Talal who is one of the kingdom s most prominent businessmen Prince Alwaleed a nephew of the ki...
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Oil advances following Saudi purge
Brent crude futures jumped to their highest since July 2015 while WTI futures touched 56 a barrel following a new wave of arrests of royals and ministers in a Saudi corruption probe It was orchestrated by Crown Prince Mohammed bin Salman who s backed OPEC led output cuts Game of thrones The purge also led to the ...
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Oil hits two year high on Saudi purge world shares retreat
By Ritvik Carvalho LONDON Reuters Oil jumped to its highest in over two years on Monday as Saudi Arabia s crown prince cemented his power through a crackdown on corruption while world shares eased a notch and major currencies traded in tight ranges Oil prices reached their highest since July 2015 as Mohammed bin ...
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JPMorgan sees more Saudi firms looking at overseas listings after Aramco
By Saeed Azhar and Tom Arnold ABU DHABI Reuters JPMorgan N JPM is in early talks with Saudi Arabian companies about overseas listings its investment bank chief said raising the possibility that more firms could join oil giant Saudi Aramco in seeking an international flotation JPMorgan is among the banks advisi...
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4 ETF Strategies To Follow Amid Global Growth Slowdown
In early April The International Monetary Fund IMF slashed its global growth forecast to the lowest level since the financial crisis and cautioned about considerable downside risks to the global economy including trade tensions This is the third time in six months that the fund has downgraded its outlook The or...
JPM
The Week Ahead What Might Derail The Stock Market Rally
This week s calendar includes a light schedule for data with an emphasis on housing Earnings season is in full swing with important reports every day The early reception has been surprisingly good creating plenty of mystified pundits The financial media will be asking What Can Derail the Rally in Stocks Last Week...
JPM
Tight supply rising prices undercut on U S home sales
By Lucia Mutikani WASHINGTON Reuters U S home sales unexpectedly fell in January leading to the biggest year on year decline in more than three years as a chronic shortage of houses lifted prices and kept first time buyers out of the market The supply squeeze and rising mortgage interest rates are stoking fear...
JPM
JPMorgan plans new Manhattan headquarters in boost to Midtown
NEW YORK Reuters JPMorgan Chase Co N JPM plans to build a new headquarters at its existing Manhattan site in the first major project under a rezoning law passed last year that aims to revitalize the Midtown area the bank and officials said on Wednesday The new 2 5 million square foot tower at the bank s curr...
JPM
U S jobless claims near 45 year low as economic outlook brightens
By Lucia Mutikani WASHINGTON Reuters The number of Americans filing for unemployment benefits fell to a near 45 year low last week pointing to strong job growth in February and solid momentum in the economy The economy s brightening prospects were also underscored by other data on Thursday showing a gauge of futu...
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Citigroup names Lo as Asia head of private banking business
HONG KONG Reuters Citigroup Inc NYSE C has appointed veteran Steven Lo as Asia head of its private banking business unit replacing Bassam Salem who is retiring from that role in February according to an internal memo seen by Reuters Lo joined Citi s private banking business more than 26 years ago as an ultra...
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Pound Bears Smell Opportunity in One And Done BOE Rate Hike
Bloomberg Bears are closing in on the pound ahead of the Bank of England s meeting this week While the central bank is widely expected to raise borrowing costs on Thursday most economists say Governor Mark Carney won t be in any hurry to raise interest rates subsequently That means the pound is vulnerable to a ...
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U S banks borrowing from U S mortgage agency jumps report
NEW YORK Reuters Large U S banks more than doubled their borrowing from the Federal Home Loan Bank System in the past decade in the aftermath of stricter regulations to avert a global credit crisis a report from the Office of Financial Research released on Tuesday showed The FHLB System which are made up of 11 ...
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Saudi purge worries investors but may speed reforms
By Andrew Torchia DUBAI Reuters A purge of Saudi Arabia s political and business elites briefly dragged down the kingdom s stock market on Sunday but prices recovered to close higher as some investors bet the crackdown could bolster reforms in the long run The size of the purge 11 princes four ministers and ten...
JPM
What Does Chase s Strong Quarter Mean For Wells Fargo
Wells Fargo Company NYSE WFC Financials Commercial Banks Reports July 15 Before Market Opens Key Takeaways The Estimize consensus is looking for earnings per share of 1 03 on 22 27 billion in revenue 1 cent higher than Wall Street on the bottom line and 40 million on the top Wells Fargo is relatively insul...
JPM
iFOREX Daily Analysis July 15 2016
The dollar was trading at three week highs against the yen on Thursday as stimulus expectations continued to pressure the Japanese currency while the pound was trading above 1 33 after the Bank of England left interest rates on hold in a surprise decision In the U S data on Thursday showed that the number of peop...
JPM
Pound Made Of Sterling Stuff
The dominant theme for this week is risk on and this despite today s session so far trading in a subdued range after another terrorist attack on French soil last night With investors willing to apply more risk funds have flow out of fixed income and into stocks pushing global indices to record new record high pr...
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Sterling hits 30 year low yen and franc surge as Brexit shakes markets
By Anirban Nag LONDON Reuters Sterling sank 10 percent in value to its weakest since before the 1985 Plaza Accord on Friday after Britain voted to leave the European Union triggering a global rush of capital into the traditional security of the yen and the Swiss franc Alongside the biggest moves in the pound in l...
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Morgan Stanley denies has begun moving 2 000 staff out of London
LONDON Reuters Morgan Stanley NYSE MS denied it had begun moving 2 000 investment banking staff out of London rejecting earlier media reports following Britain s historic vote to leave the European Union The BBC had reported that the U S investment bank had begun the process of moving the key investment bank...
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Japan PM Abe tells finance minister to take needed FX steps post Brexit vote
By Minami Funakoshi and Tetsushi Kajimoto TOKYO Reuters Japanese Prime Minister Shinzo Abe on Monday instructed Finance Minister Taro Aso to watch currency markets ever more closely and take steps if necessary in the wake of Britain s historic vote to leave the European Union Abe made the comments at an emergen...
JPM
World shares set for best week since 2011 dollar hits lowest since 2014
By Ritvik Carvalho LONDON Reuters World shares were set to post their best week of gains in six years on Friday after two consecutive weeks spent in the red shrugging off a rise in global borrowing costs while the dollar hit its lowest level since 2014 The MSCI world index of stocks which tracks shares in 47 cou...
JPM
IMAX rallies after JPMorgan confidence
Shares of IMAX NYSE IMAX shoot up in early trading after JPMorgan NYSE JPM resumes coverage on the stock with an Overweight rating The investment firm thinks IMAX s new revenue boosting strategies are set to pay off JP assigns a price target of 28 to IMAX to rep 20 upside potential IMAX 4 43 premarket to 2...
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Citigroup plans hiring drive as it re enters Saudi Arabia
By Saeed Azhar Hadeel Al Sayegh and Katie Paul RIYADH Reuters Citigroup N C wants to hire up to 20 bankers in Saudi Arabia where it plans to formally begin operations in the first quarter after obtaining an investment banking license in the kingdom a senior executive said Saudi Arabia s economic reform progr...
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Citigroup C Surpasses Q1 Earnings Estimates
Citigroup C came out with quarterly earnings of 1 87 per share beating the Zacks Consensus Estimate of 1 78 per share This compares to earnings of 1 68 per share a year ago These figures are adjusted for non recurring items This quarterly report represents an earnings surprise of 5 06 A quarter ago it was e...
JPM
This Bank Will Set The Tone For The Entire Financial Sector In Q2
JPMorgan Chase Co NYSE JPM Financials Diversified Financial Services Reports July 14 Before Market Opens Key Takeaways The Estimize consensus on is looking for earnings per share of 1 44 on revenue of 23 95 billion 1 cent higher than Wall Street on the bottom line and 110 million lower on the top Between...
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Buy everything U S if Britain leaves EU Prudential s Peters
By Jennifer Ablan NEW YORK Reuters Gregory Peters a senior investment officer at Prudential LON PRU Fixed Income with more than 621 billion of assets said on Tuesday he thinks U S stocks and bonds are a great buying opportunity if Britain votes to exit the European Union I think it is a bullish U S as...
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Nervy global investors revisit 1930s playbook
By Mike Dolan LONDON Reuters Global investors are once again dusting off studies of the 1930s as fears of protectionism nationalism and a retreat of globalization sharpened by this week s Brexit referendum escalate anew With markets on tenterhooks over Thursday s too close to call vote on Britain s future in ...
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U S jobless claims factory data point to firming economy
By Lucia Mutikani WASHINGTON Reuters The number of Americans filing for unemployment benefits fell last week to near a 43 year low suggesting labor market resilience even though hiring slowed sharply in May Other data on Thursday also gave a fairly upbeat assessment of the economy after it stumbled in the first q...
JPM
U S hiring probe casts shadow on Credit Suisse
By John O Donnell and Jennifer Hughes FRANKFURT HONG KONG Reuters A U S investigation into whether Credit Suisse SIX CSGN hired referrals from government agencies in Asia in exchange for business poses another reputational hurdle for CEO Tidjane Thiam as the Swiss bank enters the final stretch of a three year ...
JPM
Gold Prices Fall In Asia As Chinese New Year Holidays Start
Investing com Gold dipped in Asia on Thursday as top buyer China started a market break through Feb 21 to mark the Lunar New Year and physical trade dipped further with Hong Kong also shut and Singapore on holidays Friday and Monday Gold futures for April delivery on the Comex division of the New York Mercantile Ex...
JPM
FX Volatility Boosts Trading Amid Signs More to Come
Bloomberg The past week s financial market turbulence is keeping foreign exchange traders busy boosting volumes along with volatility Price swings in the 5 1 trillion a day currency market have jumped at the start of 2018 to the highest since November 2016 on a monthly basis according to a JPMorgan Chase Co ...
JPM
Play Global Market Rally With These ETFs
The global markets have hit a purple patch to start Q3 with the key U S gauge S P 500 hitting a 52 week on July 8 at the close an all time record close of on July 11 and yet another fresh high of 2152 14 on July 12 With this the index has seen an ascent of 17 7 from this year s low of 1 829 08 on February 11 re...
JPM
JPMorgan JPM Beats Q2 Earnings As Trading Income Rises
Driven by improved trading revenues JPMorgan Chase Co s NYSE JPM second quarter 2016 earnings of 1 55 per share handily outpaced the Zacks Consensus Estimate of 1 43 Also the figure reflects a 1 rise from the year ago period Notably the results included a legal benefit of 430 million Improved fixed in...
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Morgan Stanley s Gorman says bank eyeing 1 billion in FICC trading per quarter
By Olivia Oran Reuters Morgan Stanley N MS is eyeing quarterly revenue of around 1 billion for its fixed income currencies and commodities trading unit Chief Executive James Gorman said on Tuesday The Wall Street bank is seeing revenues grow in its bond trading business or FICC even with reduced headcoun...
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Morgan Stanley global commodities co head Peter Sherk to leave firm memo
By Olivia Oran Reuters Morgan Stanley NYSE MS global commodities group co head Peter Sherk is leaving the firm the bank said Thursday in a memo Nancy King who co heads the business will become sole head A Morgan Stanley spokesman confirmed the contents in the memo Sherk s departure comes as Morgan Stanley...
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Brazil annual inflation rate seen easing in mid June
BRASILIA Reuters Brazil s annual inflation rate is seen softening in mid June but will still be strong enough to diminish the prospects of the central bank hitting its inflation target range this year a Reuters poll showed on Monday Consumer prices as measured by the IPCA 15 index probably rose 9 10 percent in...
JPM
Record outflows from S P 500 SPDR last week
Investors reacted to last week s volatility by yanking a record 23 6B from the SPDR S P 500 ETF NYSEARCA SPY according to Bloomberg That s a full 8 of where assets stood at the start of the week Not since August 2010 has that percentage of AUM been pulled from the SPY It s bullish says the team at JPMorgan NYS...
JPM
China names JPMorgan Chase as yuan clearing bank in U S
BEIJING Reuters China s central bank on Tuesday named JPMorgan Chase Co N JPM as yuan clearing bank in the United States as Chinese authorities seek to boost global use of the yuan The pick of the largest U S bank by assets was made according to an agreement with the U S Federal Reserve the People s Bank ...
JPM
Powell Suggests Fed to Go Ahead With Rate Hikes After Share Rout
Bloomberg Federal Reserve Chairman Jerome Powell suggested that the U S central bank would push ahead with gradual interest rate increases even as it remains on the lookout for threats to the financial system in the wake of the recent stock market rout We are in the process of gradually normalizing both interes...
JPM
Next Big Equity Pain Threshold Looms as Treasury Yield Nears 3
Bloomberg Bond yields are inching ever closer to the point at which strategists and fund managers say equities will really hurt According to strategists at firms including Amundi and Societe Generale PA SOGN SA the U S 10 year Treasury yield climbing up into the 3 percent to 3 5 percent range would reach th...
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SoFi withdraws U S banking application citing leadership change
By Anna Irrera NEW YORK Reuters Student online lender Social Finance Inc said on Friday that it is withdrawing its application for a bank license in the wake of the departure of a number of senior executives including co founder and former Chief Executive Mike Cagney The San Francisco based company had applied wi...
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Palladium Tops 1 000 for First Time Since 2001 on Auto Demand
Bloomberg Palladium climbed above 1 000 an ounce for the first time since 2001 as global demand grows for the metal in pollution control devices used by gasoline powered vehicles Prices jumped as much as 1 6 percent to 1 007 42 on Monday before trading at 1 005 55 by 8 14 a m in London The metal is one of t...
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Japan first quarter GDP revised up boosted by leap year gain
By Stanley White TOKYO Reuters Japan s economy grew faster than initially estimated in the first quarter as capital spending fell less than was first reported but worries remain over slow consumer spending and weak exports The upward revision is very slight and when you exclude the impact of leap year growth is...
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Morgan Stanley pays 1 million SEC fine over stolen customer data
By Jonathan Stempel Reuters Morgan Stanley N MS has agreed to pay a 1 million fine to settle U S Securities and Exchange Commission civil charges that security lapses at the Wall Street bank enabled a former financial adviser to tap into its computers and take client data home the regulator said on Wednesday...
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Worse than expected drop in Japan machinery orders flags weak capex ahead
By Stanley White TOKYO Reuters Japan s core machinery orders tumbled in April by the most in two years partly due to earthquakes in a southern manufacturing hub but raising the risk that business investment will remain weak for most of the year The 11 0 percent month on month fall in core orders was much deeper t...
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Abenomics doubts drive foreigners off Japanese stocks volatility spikes
By Ayai Tomisawa TOKYO Reuters Foreign investors are bailing out of Japanese stocks as a wobbly economy feeds disillusionment about Abenomics sparking bouts of volatility in a market increasingly shaken up by policy decisions of the Bank of Japan The trouble is that long term focused foreign funds have turned b...
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Japan corporate sentiment worsens capex plans revised up
By Stanley White TOKYO Reuters Sentiment at large Japanese manufacturers worsened for the second consecutive quarter over April June due to a rising yen although companies did revise up their capital expenditure plans Large manufacturers said they expect sentiment to rebound in July September offering encouragem...
JPM
JPMORGAN Investors stressing over inflation should pay close attention to one peculiar trend
US inflation has undershot the Federal Reserve s 2 target for much of the recovery but a stronger economy and the tax cut package have sparked fears of a sudden pick up Inflation fears have driven bond yields higher and stock prices lower reintroducing volatility into a market that hasn t seen much of it JP Morga...
JPM
China revives QDLP outbound investment scheme in boost for foreign funds sources
SHANGHAI Reuters China has resumed an outbound investment scheme after a two year hiatus granting licenses to about a dozen global money managers sources said signaling that Beijing is less worried about capital outflows amid a surge in the Chinese currency Foreign fund managers with newly awarded quotas will ...
JPM
China conglomerates aim for reset in tighter credit environment
By Matthew Miller BEIJING Reuters More than a year ago China abruptly shifted from a policy of providing its private conglomerates with cheap cash to push them to become global champions and tightened capital controls and bank credit That seismic shift is still being felt today as the non state companies dump p...
JPM
T Mobile profit surges on 2 2 billion tax gain
Reuters T Mobile US Inc s O TMUS quarterly profit jumped nearly sevenfold as the No 3 U S wireless carrier added subscribers and recorded a 2 2 billion gain from recent changes in U S tax laws The company said it added 891 000 phone subscribers in the fourth quarter compared with 933 000 a year earlier T M...
JPM
Yields Speak Louder Than Ratings for Emerging Market Traders
Bloomberg What if a credit rating gets cut and nobody cares Emerging market investors aren t worrying much about the opinion of ratings companies these days as the hunt for yield outweighs what they consider rear view assessments Most of the developing nations that were downgraded in the past six months includi...
JPM
JPM s Kolanovic Says Some Systematic Strategies May Sell at Lows
Bloomberg Sell low and buy high wait is that the way it s supposed to go Once bumpiness had flooded into the market various forms of volatility targeting strategies were set in motion and added to outflows that will keep investors on edge for several days JPMorgan NYSE JPM strategists Marko Kolanovic and ...
JPM
JPMorgan lifts U S GDP growth outlook after budget deal
NEW YORK Reuters J P Morgan on Friday raised its outlook on U S economic growth in 2018 and 2019 in the wake of a wide ranging deal that will increase federal government spending and its budget deficit to the area of 1 trillion a year Michael Feroli an economist at the largest U S bank by assets N JPM sai...
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U S domestic stock funds win cash for first time in six weeks Lipper
By Trevor Hunnicutt NEW YORK Reuters U S fund investors stopped resisting the festive mood in equity markets and joined the party pouring cash into domestic stocks for the first time in six weeks according to Lipper data on Thursday Stock mutual and exchange traded funds in the United States pulled in 2 9 bill...
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Nikkei 225 Jumps In Asian Trade Investors Focus On Samsung Outlook
Investing com Asian shares mostly gained on Friday with the investors noting a management change at South Korea s Samsung Electronics KS 005930 The Nikkei 225 jumped 1 15 while the S P ASX 200 rose 0 45 In Greater China the Shanghai Compiste gained 0 15 and the Hang Seng index inched up 0 03 China reported...
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Citi Eyes Expansion In Asia To Add Wealth Management Clients
The escalating wealth profile in Asia has attracted a number of global banks to expand their businesses in the region in recent times Sensing huge opportunities Citigroup Inc NYSE C intends to increase the number of wealth management clients in Asia Pacific this year by 10 per Reuters Supported by higher num...
JPM
Gold ETF Rally Unstoppable After 2 Beaming Quarters
Amid global growth slowdown geopolitical turmoil and high broad based volatility in the markets ever since the start of the year gold has emerged as a winner among other asset classes The yellow metal has recorded its biggest two quarter percentage increase since 2007 read In fact gold touched a new two year hi...
JPM
How To Trade JP Morgan Chase JPM Ahead Of Earnings
On Thursday July 14th JP Morgan Chase NYSE JPM will release its Q2 earnings results The company is currently a Zacks Rank 3 Hold and shares are down about 8 3 year to date David Bartosiak will look into JP Morgan Chase s past earnings look at what is currently going on with the company and gives us his tho...
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Japan s SoftBank plans to sell 7 9 billion in Alibaba stock to cut debt
By Makiko Yamazaki and Narottam Medhora Reuters SoftBank Group Corp said it will sell at least 7 9 billion of shares in Alibaba NYSE BABA Group Holding Ltd a move that will cut the Japanese firm s debt amid worries about losses at its U S telecoms unit Sprint Corp The transaction marks the first sale of sh...
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Oil falls as OPEC expected to shun any output curbs
By Simon Falush LONDON Reuters Oil prices fell on Wednesday on expectations of OPEC inaction on output as its focus stays firmly on market share while concerns about China s economy weighed on the demand outlook Brent crude LCOc1 was at 49 05 per barrel at 0944 GMT 5 44 a m ET down 84 cents U S crude fut...
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Infoblox hires Morgan Stanley for activist defense Bloomberg
Reuters Network management services provider Infoblox Inc which was targeted by investor Starboard Value LP has hired Morgan Stanley NYSE MS for activist defense Bloomberg reported on Wednesday Starboard Value disclosed a 7 1 pct stake in the company and called its shares undervalued in April The hiri...
JPM
Oil eases but wards off stocks style turbulence
By Amanda Cooper LONDON Reuters Oil fell for a third day on Tuesday as a rout in global equities triggered losses across bonds cryptocurrencies and commodities although the crude price is in positive territory so far this year Even with Wall Street stocks posting their largest one day fall since late 2011 on Mo...
JPM
JPMorgan downgrades Logitech
JPMorgan NYSE JPM downgrades Logitech NASDAQ LOGI from Neutral to Underweight and drops the price target 3 to 40 Latest analyst recommendations 2 Buy 1 Outperform 2 Hold and 1 Sell Median price target 47 Logitech shares are down 0 66 premarket Now read
JPM
Americans voluntarily quitting jobs as labor market tightens
By Lucia Mutikani WASHINGTON Reuters The number of American workers voluntarily quitting their jobs jumped in December to the highest level in nearly 17 years in a strong show of confidence in the labor market which further bolsters expectations of faster wage growth this year The Labor Department s monthly Job O...
JPM
Mnuchin Says 1 Trillion U S Debt Plan Isn t Affecting Markets
Bloomberg Treasury Secretary Steven Mnuchin said the U S government s plan to borrow what analysts expect to be more than 1 trillion this year isn t contributing to volatility in markets I don t think that s had an impact on the market at the moment Mnuchin told reporters at the Capitol on Tuesday The debt...
JPM
Silver Or Gold ETFs Which Is The Best Bet For July
After three years of losses the first half of 2016 brought unparalleled gains for gold ETFs The metal was on a tear on safe haven demand and dovish central banks across the developed economies to ward off growth issues A rush to safety for the most part of 1H16 were triggered by the Chinese market upheaval a 12 yea...
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Weekly Energy Report
Energy prices in U S dollars were volatile last week as the markets reacted to the Brexit vote on June 24 Prices for WTI Brent and diesel were up 2 83 4 01 and 3 86 respectively Figures released on Wednesday by the U S Department of Energy DOE revealed a drop in crude oil inventories Stocks fell 4 1 milli...
JPM
The Zacks Analyst Blog Highlights SPDR Gold Shares IShares Silver Trust ETFS Physical Silver Shares And PowerShares DB Silver ETF
For Immediate Release Chicago IL July 06 2016 Zacks com announces the list of stocks featured in the Analyst Blog Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets Stocks recently featured in the blog include SPDR Gold Shares NYSE GLD ...
JPM
Positive US data pushed stock market indices up
Last week US stock market indices showed the record growth since last November US dollar index slightly retraced against other currencies after strong growth Markets were playing off the UK referendum where the majority of Britons supported Brexit The referendum was held on Thursday June 23 Investors decided the ev...
JPM
Banking On A Rebound
For a long time big global bank stocks used to be at the core of conservative portfolios but not anymore Two such banking giants with great brands are now facing market turbulence and it s time to take note Crunch Time at Credit Suisse SIX CSGN About a year ago Credit Suisse brought in a new CEO Tidjane Th...
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Corporate Japan much more downbeat about escape from deflation Reuters poll
By Stanley White TOKYO Reuters Japan Inc has become increasingly pessimistic about the country s ability to beat deflation with the vast majority of firms now expecting no escape for the foreseeable future a Reuters poll showed Most Japanese companies also said they did not think Prime Minister Shinzo Abe s late...
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India Inc shows growth spreading by end of Modi s sophomore year
By Rafael Nam and Rajesh Kumar Singh MUMBAI NEW DELHI Reuters Indian companies are posting their best earnings results since Prime Minister Narendra Modi swept to power two years ago giving the clearest sign yet that India s fast but patchy economic growth is becoming more broad based Though headline growth fig...
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Morgan Stanley asks if the Fed is gunning for June or gunning for soon
Investing com As markets geared up for the first appearance of Federal Reserve Fed chair Janet Yellen on Friday Morgan Stanley NYSE MS insisted in a report that an imminent rate hike would be a mistake The investment bank analyzed the tug of war between the Fed and financial markets that resulted in the curre...
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Gold falls mildly as solid data boosts dollar ahead of Yellen speech
Investing com Gold inched down on Friday remaining near three month lows as moderate upward revisions to first quarter U S GDP helped boost the dollar ahead of a closely watched speech by Federal Reserve chair Janet Yellen at Harvard University On the Comex division of the New York Mercantile Exchange gold for J...
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Tax hike delay signals Japan giving up on fiscal reform
By Leika Kihara TOKYO Reuters Prime Minister Shinzo Abe is essentially giving up on fiscal reform by postponing a sales tax hike for two and a half years putting Japan s credibility on the line and heightening the risk of a credit downgrade that could lift corporate borrowing costs With the central bank s massive...
JPM
JPMorgan Says This Isn t Start of Major Downturn Amid Bond Risk
Bloomberg Equities still feel like the right place to be relative to bonds for multi asset investors according to JPMorgan NYSE JPM Asset Management The pullback in risk assets among overbought conditions and stretched sentiment doesn t look like the start of a major downturn the money manager said With econ...
JPM
Don t Panic It s No Taper Tantrum JPMorgan Tells EM Investors
Bloomberg Emerging market investors shouldn t expect a repeat of the 2013 taper tantrum as Treasury yields climb JPMorgan NYSE JPM Asset Management said Local currency and dollar bond indexes for developing nations fell the most since May on Friday as the highest 10 year Treasury yields in four years sparked a...
JPM
JPMorgan positive on Norwegian Cruise Line Holdings
JPMorgan NYSE JPM lifts Norwegian Cruise Line Holdings NASDAQ NCLH to an Overweight rating after having the cruise line stock set at Neutral The analyst team sees strong macro trends supporting demand and pricing for Norwegian in 2018 JP s price target of 70 reps 18 upside potential for shares NCLH 0 90 prem...
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Citigroup considering onshore cash equities business in China
By Sumeet Chatterjee HONG KONG Reuters Citigroup Inc N C is considering setting up an onshore cash equities business in China and expanding research coverage of Chinese stocks to boost its share of the business in Asia said the head of its regional equities unit The U S headquartered bank is also looking to...