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JPM
Junk bond spreads tighten to two month low
via Bloomberg s Gowri GurumurthyIgnoring macro fears like upped rhetoric between the leaders of the U S and North Korea and Iranian unrest junk bonds are rallying to start the year Maybe at work is the continued rise of oil now nearing 61 per barrel Energy accounts for 14 of the Bloomberg Barclays LON BARC h...
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UK s Equiniti to buy Wells Fargo s share registration unit for 227 million
Reuters Britain s Equiniti Group Plc said it would buy Wells Fargo NYSE WFC Co s share registration business for 227 million as it looks to enter the United States the largest and most active share registration market Wells Fargo said it would focus on areas of its business that are essential for growth T...
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European shares poised for quiet end to strong week earnings loom
LONDON Reuters European shares were poised for their best week in more than two months as investors piled back into equities on signs that the world s major central banks would likely not tighten monetary policy as quickly as some had feared The move on indexes on Friday was more muted as investors hunkered down a...
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Cautious Fed sends stocks to record highs dollar dips
By Jemima Kelly LONDON Reuters Global stocks scaled record highs on Friday capping their best week in over two months as the dollar stayed close to nine month lows with bets on a gradual U S Federal Reserve rate hike path and hopes for a strong earnings season boosting risk appetite After a scare at the end of...
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Global stocks mostly tread water U S data ahead
Investing com Global stocks mostly at an end week standstill after Fed Chair Janet Yellen s testimony 178 Nikkei 225 edged up 0 09 as yen traded mostly flat against the dollar Europe mostly flat DAX up 0 03 CAC 40 up 0 23 on Bastille Day Euro firm above 1 14 mark as ECB expected to announce tapering plans i...
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Citigroup C Dips More Than Broader Markets What You Should Know
In the latest trading session Citigroup C closed at 67 78 marking a 0 7 move from the previous day This change lagged the S P 500 s 0 25 loss on the day At the same time the Dow added 0 04 and the tech heavy Nasdaq lost 0 53 Coming into today shares of the U S bank had lost 2 42 in the past month In ...
JPM
JPMorgan Chase Stock Rises On Respectable Earnings
JP Morgan Chase NYSE JPM stock rose 4 on Wednesday after it released better than expected earnings for its first quarter of fiscal year 2016 JP Morgan is often the first bank to release earnings so many analysts use JP Morgan s financial figures to set expectations for other major U S banks Net revenue posted fo...
JPM
SPX Closes At Lower High Euro Begins Pullback
VIX challenged its weekly mid Cycle resistance at 16 06 closing beneath it It appears to be on an aggressive buy signal NYSE sell signal while closing above mid Cycle resistance may confirm the signal ZeroHedge And CSFB s Fear Barometer just hit an all time high As CS Mandy Xu notes typically an increas...
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Morgan Stanley names Kelleher president Fleming leaving bank memo
Reuters Morgan Stanley N MS has promoted its head of institutional securities Colm Kelleher to president prompting Greg Fleming the head of wealth management to leave the bank Kelleher will also take on Fleming s role overseeing wealth management according to a memo on Wednesday reviewed by Reuters In ...
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Wall Street expects March hike China a wild card poll
By David Gaffen Reuters Wall Street s top banks say the Fed is likely to raise rates by March but subsequent rate increases will be slow particularly if China devalues its currency at a rapid rate in 2016 A Reuters poll of the primary dealers that deal directly with the Federal Reserve shows that 13 of 18 that r...
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China turmoil drags oil prices lower
Investing com Brent crude oil fell over 3 on Monday as China s economic slowdown dented the outlook for demand with traders placing record bets on even lower prices as they increasingly lose faith in a significant market recovery Global benchmark Brent was at 33 18 per barrel at 11 46 GMT after falling to earlier...
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U S crude falls by 5 amid continuing economic woes in China
Investing com U S crude futures fell sharply by more than 5 on Monday as widespread concerns related to the slumping China economy pulled prices down to fresh 12 year lows On the New York Mercantile Exchange WTI crude for February delivery traded in a broad range between 30 89 and 33 20 a barrel before settli...
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Buybacks increasingly debt funded decreasingly accretive JPMorgan
A full 32 2 of buybacks last quarter were funded with debt according to JPMorgan NYSE JPM That s the highest in the post crisis cycle and up from about 10 in 2009 Unsurprisingly given the continued rise in stock prices each dollar of debt funded repurchases is worth less EPS accretion just 5 1 last quarter v...
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Strong U S consumer business spending bolster growth picture
By Lucia Mutikani WASHINGTON Reuters U S consumer spending accelerated in November and shipments of key capital goods orders increased for the 10th straight month data showed on Friday the latest signs of strong momentum in the economy as the year winds down But the bullish growth picture was dimmed somewhat as...
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The Week Ahead 5 Things to Watch on the Economic Calendar
Investing com Global financial markets will focus on Federal Reserve Chair Janet Yellen s testimony to both houses of Congress in the coming week as they continue to mull the possible end of monetary stimulus from central banks around the globe Investors will also keep an eye out on a few U S economic reports wit...
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Oil could hit 60 before year end Barron s citing Citi analyst
Reuters Accelerating world oil demand and reduced supply from the Organization of the Petroleum Exporting Countries OPEC could push crude prices up to 60 a barrel before the end of the year according to a report from Barron s The report cites research from Citigroup NYSE C senior energy analyst Eric Lee w...
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Buyout firm Apollo to buy golf course operator ClubCorp for 1 1 billion
By Greg Roumeliotis Reuters Private equity firm Apollo Global Management LLC N APO said on Sunday it had agreed to acquire ClubCorp Holdings Inc N MYCC one of the largest owners and operators of private golf and country clubs in the United States for 1 1 billion The deal comes three months after ClubCorp an...
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Banks begin London exodus as hopes of transitional deal fade
By Andrew MacAskill and Anjuli Davies LONDON Reuters Britain may have left it too late to convince major banks that it can strike a deal to soften the impact of Brexit before they start shifting jobs from London Top executives at five of the largest banks in the capital told Reuters a staggered deal on leaving the...
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Square Pops on Citi Upgrade But Market Cycles Point Lower
Square NYSE SQ traded 4 higher on Tuesday morning after Citigroup NYSE C upgraded the mobile payment company from neutral to a buy rating However our analysis of the stock s market cycles indicate that downside risk will persist before it is able to move higher again Analyst Peter Christiansen recommended that...
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Gold s Enchanted April
Are we in the midst of an Enchanted April No not the absorbing 1992 Miramax film some might characterize as a so called chick movie wherein the exquisite cinematography all around Italy s Riviera Ligureis nothing short of stunning Rather we re referring to the notion put forth on occasion out there by the PMS ...
JPM
Record Bullish Bets Fail To Advance Yen
Hedge funds and other large speculators boosted bullish yen wagers to the highest since at least 1992 as Japan s currency struggled to extend its gains into a seventh day The yen advanced to a fresh 17 month high earlier on Monday after speculators defied rhetoric from Japanese authorities aimed at checking its advanc...
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Earnings Watch Big Bank Reports Wednesday
JPMorgan Chase Co NYSE JPM Financials Diversified Financial Services Reports April 13 Before Market Opens Key Takeaways The Estimize consensus is looking for EPS of 1 32 on revenue expectations of 24 20 billion 6 cents higher than Wall Street on the bottom line and almost 350 million in sales Chase li...
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iFOREX Daily Analysis April 14 2016
The dollar rose to one week highs against the other major currencies on Wednesday despite the release of disappointing U S economic reports as the greenback continued to recover from sharp losses posted earlier in the week The U S Census Bureau said that retail sales fell by 0 3 in March disappointing expectatio...
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Oil tumbles towards 11 year lows on worsening glut
By Dmitry Zhdannikov and Amanda Cooper LONDON Reuters Oil prices tumbled 4 percent on Monday coming close to their 11 year low on growing fears that the global oil glut would worsen in the months to come in a pricing war between leading OPEC and non OPEC producers Brent crude LCOc1 fell by 4 percent to below ...
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Twitter announces new crackdowns on hate speech violence
Twitter NYSE TWTR will place a warning in front of hateful imagery like swastikas and ban the use of such images as profile photos The social network will shut down accounts promoting violence against civilians ban usernames that contain a violent threat or racial slur and delete tweets celebrating v...
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Miners lend support as rate sensitive stocks drag Europe
By Kit Rees LONDON Reuters European shares edged lower on Wednesday weighed down by weak healthcare stocks and utilities although gains among basic resources stocks after an upgrade helped cap losses The pan European STOXX 600 index was down 0 1 percent by 0831 GMT in choppy trade while the blue chip index also...
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GlaxoSmithKline slips on analyst downgrade worries about HIV competition
GlaxoSmithKline NYSE GSK shares slip premarket following a Citigroup NYSE C downgrade based on potential losses in the HIV treatment market Citigroup downgrades GlaxoSmithKline from Buy to Neutral and cut earnings guidance by 9 Analyst Andrew Baum thinks Merck s development stage H...
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JPMorgan won t bid for Worldpay
Vantiv earlier announced a near 10B deal to purchase U K based Worldpay Also reported to have had interest in Worldpay JPMorgan NYSE JPM says it doesn t intend to make an offer Will Square NYSE SQ show up on JPMorgan s radar Its shares are higher by 1 4 premarket presumably on the Worldpay news Now read
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Where To Ride Out The Volatility
We look at the causes of the latest round of fear and volatility and where to ride out the storm Stock markets were hammered again Thursday but it was the New Zealand dollar that led the way in a sign of shifting correlations China trade balance is due up next Thursday s Premium trade is firmly in the money after go...
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iFOREX Daily Analysis October 12 2018
With inflation lower than expected and the sell off on Wall Street the dollar saw a further downside against other major currencies with the US Dollar Index USDX closing 0 55 lower Even battered emerging market currencies such as the Indian rupee INR the Turkish lira TRY were able to gain against the struggl...
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Today s Trade The Market s Fight Song
Technical Outlook Extremely dovish and extremely unexpected FOMC Statement yesterday that cut the yearly outlook of 4 additional rate hikes down to 2 additional rate hikes As a result Yellen by cutting the number of rates for the year essentially gave the market the equivalent of two rate cuts yesterday Be carefu...
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Rally Keeps Going And The Fed Is Responsible Again
What is left to say that hasn t been said already When you look at the charts from this report over the weekend you will see that they are very self explanatory It s been a straight up move leaving the bears feeling sick You would think that after so much upside action the market would have hesitated at the S P 50...
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Searching For Good Odds
Last week I was in Las Vegas for 48 hours attending a conference Dear reader before you smile at this lame attempt to disguise play as work you should know that I don t gamble drink only moderately and do not enjoy loud rock music Therefore the sight of yours truly staying at the Hard Rock Hotel and Casino might...
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Morgan Stanley to take 150 million severance charge in fourth quarter
Reuters Morgan Stanley N MS will take a 150 million severance charge in the fourth quarter related to a workforce reduction a company spokesman said on Tuesday The charge will cover the cost of cutting jobs of 1 200 workers worldwide including about 470 front office employees in its fixed income business a...
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Clinton relayed son in law s meeting request at State Department AP
WASHINGTON Reuters Democratic presidential candidate Hillary Clinton forwarded a request made by her son in law for a meeting between one of his hedge fund s clients and State Department officials when she was the country s top diplomat the Associated Press reported Tuesday Marc Mezvinsky the husband of Chelsea ...
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Fed set for very gradual rate path after expected Dec 16 hike poll
By Aaradhana Ramesh Reuters The U S Federal Reserve will move very gradually after it delivers what is widely expected to be its first interest rate hike in nearly a decade next week according to a Reuters poll that points to a tame inflation outlook for next year Now that Fed officials have made clear they are ...
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U S data company Palantir raises 679 8 million
SAN FRANCISCO Reuters Palantir Technologies the data firm best known for helping the U S government track down al Qaeda leader Osama bin Laden has raised 679 8 million according to a filing on Wednesday The cash injection which further expands the 500 million the company originally said it was raising in Ju...
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Morgan Stanley begins layoffs in credit division
By Olivia Oran and Richard Leong NEW YORK Reuters Morgan Stanley N MS this week cut staff covering short term credit and regional broker dealers after a quarter in which the bank posted a 42 percent drop in bond trading several sources told Reuters The sources blamed the shakeup at the No 6 U S bank by...
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Saudi hopes purge will help push to join anti illicit funding body
By Tom Arnold DUBAI Reuters Saudi Arabia has high hopes that a campaign of arrests to crack down on corruption will improve its chances of joining the Financial Action Task Force a global body dedicated to combating illicit money flows The kingdom one of only two G20 nations along with Indonesia which is not a F...
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U S Stocks Dip as Investors Turn to Tax Overhaul Markets Wrap
Bloomberg U S equities turned lower with the dollar as investors try to assess the tax overhaul package with leaders in the Senate and House of Representatives aiming to finalize compromise legislation and hold floor votes next week The euro retreated with the European Central Bank remaining cautious about the p...
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Twitter 5 after JPMorgan upgrade
JPMorgan NYSE JPM upgrades Twitter NYSE TWTR from Hold to Overweight raises the price target by 7 to 27 and calls the company one of the top smid cap ideas in 2018 Analyst Doug Anmuth s predictions for 2018 include improvements in video and live streaming a 10 DAU growth an 8 ad revenue gro...
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Don t Expect NFP To Help USD
By Kathy Lien Managing Director of FX Strategy for BK Asset Management With fewer than 24 hours to go before the most important event risk this week U S nonfarm payrolls the U S dollar is trading lower against all of the major currencies In fact this has been an extremely challenging week for the greenback w...
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US Private Payrolls Rebound
American companies added 230 000 workers to payrolls in February a solid improvement over the upwardly revised 182 000 gain for January based on seasonally adjusted data Today s update from the Labor Dept handily beat the consensus forecast for a rise in the low 180k range The year over year growth rate for priva...
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Doorways And Liquidity
A very curious thing happened overnight in Japan trading in their 10 year bonds was briefly halted This was the result of a selloff that pushed yields from minus 10 up to minus 015 The price move in the bonds was only 6 so not a huge move but the circuit breakers were hit and trading stopped So why is this a...
JPM
These Charts Should Do One Thing For You
Global Liquidity The last time that global liquidity conditions contracted at this pace was on the back of the government s guarantee of Bear Stearns sale to JPMorgan NYSE JPM Inflation Back in 37 the Fed raised rates when headline inflation hit 3 7 But this tightening move was a collossal mistake with CP...
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Today s Trading Plan Brace For The FOMC
Another low volume and tight trading range for S P 500 yesterday Volume was on par with yesterday s light reading and well below recent averages Price closed below the declining trend line as well as below the 200 day moving average for SPX Market behavior over the last two trading sessions and a few others before i...
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Morgan Stanley to cut up to 25 percent of fixed income jobs
By Olivia Oran and Sudarshan Varadhan Reuters Morgan Stanley N MS plans to cut up to 25 percent of its fixed income jobs according to a person familiar with the matter The workforce reduction will be across all regions and is set to take place in the next two weeks the person said The news was first reporte...
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Yuan s Reserve Currency Status Evokes Mixed Reactions
By SHANGHAI A major milestone in the opening of China s economy or a purely symbolic gesture with little real significance Both reactions were in evidence in China Tuesday after the International Monetary Fund IMF voted to include the country s currency the yuan in its Special Drawing Rights SDR basket...
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Global stocks hit euro shines after ECB wrong foots traders
By Nichola Saminather and Hideyuki Sano SINGAPORE TOKYO Reuters Asian shares joined a global markets slump on Friday after the European Central Bank s stimulus package fell well short of markets high expectations sending the euro rocketing to its biggest one day surge in nearly seven years European shares were p...
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Oil hits two year and a half year high on pipeline shutdown stocks take breather
By Ritvik Carvalho LONDON Reuters Oil prices jumped to their highest in more than two years on Tuesday after the shutdown of a North Sea pipeline knocked out significant supply from an already tightening market World stocks took a break from a three day rally Brent crude futures the global benchmark for oil pric...
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Deutsche Bank Economist Hooper Says Bitcoin Is Here to Stay
Bloomberg Bitcoin isn t perfect but don t expect it to go away anytime soon At a global market outlook breakfast in Manhattan on Tuesday executives at Deutsche Bank AG DE DBKGn were in agreement that the cryptocurrency is here to stay The whole idea has a potential future but it could be better designed ...
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Citi likes FibroGen sees 49 upside shares ahead 9 premarket on light volume
FibroGen NASDAQ FGEN is up 9 premarket albeit on only 1 500 shares on the heels of Citigroup NYSE C s announcement that it is a top pick Analyst Joel Beatty says anemia candidate roxadustat should be a winner with the potential to the top drug for the condition He pegs the probability of approval at 80 ahea...
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Bank s rally in front of CCAR results
The CCAR results at which banks capital return plans for the coming year will or won t be approved or something in between will be released after the close tonight After years of this exercise and having built up big capital cushions one would expect nearly all lenders subject to the test to have properly gamed...
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Citigroup plans 18 9 billion capital payout over next four quarters
NEW YORK Reuters Citigroup Inc N C said it plans to repurchase up to 15 6 billion of common stock over the next 12 months and double its quarterly dividend to 32 cents per share bringing total payouts to 18 9 billion Citigroup the fourth biggest U S bank by assets announced its intentions after the U S ...
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With Turkish Lira Pounded U S Banks Also Take A Hit
The Turkish Lira dropped 18 in relation to the US dollar on Friday morning as tensions rose between the Turkish and American governments Turkish President Erdogan gave a defiant speech at a rally encouraging his people to sell dollar denominated foreign exchange reserves In response President Trump declared I ...
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EUR USD 2 Are In Favor 2 Are Against
EUR USD is likely to consolidate in the range of 1 15 1 185 according to fundamental factorsWhat happened to the greenback Just in the mid August Donald Trump was boasting that Money is pouring into our cherished DOLLAR like rarely before and EURUSD was trading close to the 13 month low Scarcely two weeks have g...
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How Bitcoin Will Make You Big Money Again
If you are a Bitcoin fan or looking for the next opportunity for a Bitcoin rally you may not have long to wait before a price breakout takes place Our research team at believes a price breakout may occur before the end of 2018 the only question is will it be a breakout rally or a breakdown crash before the next ...
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EUR USD Dollar Wants But Waits
EUR USD continues consolidating in the range of 1 15 1 185 Two steps forward one step back Since mid April the U S dollar had been 7 up during 27 weeks next it was 2 down during 4 weeks Although speculators are still holding 19 2 billion of net longs for the US dollar the derivative market features more and m...
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What s Gold Telling Us
Gold has been one of the best performing assets in 2016 The price of gold has surged from 1061 00 to 1250 00 since the start of the year Generally most traders and investors will look for gold to do poorly when the U S dollar is strong but recently gold has rallied higher despite the strength in the dollar Gold...
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U S Data Steady As She Goes
He that won t be counsell d can t be help d Benjamin Franklin ed Poor Richard s Almanack Was it really a case of the Dimon Bottom Such is an idea that has been put forth on CNBC and other media outlets the premise being that JP Morgan N JPM CEO Jamie Dimon s big stock purchase 22 6 mm of his own comp...
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Oil Rises Despite Weak Economic Data
US stocks closed lower on Monday despite higher oil prices The dollar strengthened live dollar index data indicate the ICE US Dollar Index a measure of the dollar s value against a basket of six major currencies rose 0 2 to 98 324 The Dow Jones Industrial Average slid 0 3 to 16588 weighed by a 0 8 loss in JPMo...
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ISM Manufacturing Up In February
The ISM Manufacturing Index was reported at 49 5 for February 2016 up from 48 2 in January It was the second consecutive rise for the overall index December being the lowest so the it s all over narrative has been flying around heavily today Lost in the relief is that February was the fifth consecutive month bel...
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HSBC says to shut down India private banking business
By Sumeet Chatterjee MUMBAI Reuters HSBC Holdings Plc L HSBA is shutting its private banking unit in India marking the exit of another foreign bank from the cut throat wealth management business in Asia s third largest economy After a strategic review of the global private banking operations in India we hav...
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JPMorgan downgrades Syntel and Synopsys
JPMorgan NYSE JPM downgrades Syntel NASDAQ SYNT from Neutral to Underweight citing limited near term earnings growth and margins above the industry average The firm also downgrades Synopsys NASDAQ SNPS from Neutral to Underweight with a reiterated 87 price target The downgrade comes as part of ...
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Oil and gas producer EQT to buy Rice Energy in 6 7 billion deal
By Yashaswini Swamynathan and Arathy S Nair Reuters U S oil and gas company EQT Corp N EQT said on Monday it would buy Rice Energy N RICE for 6 7 billion 5 24 billion pounds in its biggest deal ever as it looks to expand its natural gas business Rice Energy s shares surged more than 24 percent to 24 47...
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Prepare for a V shaped rebound in oil prices Citi
Investors should position for a potential V shaped rebound in crude prices in H2 Citigroup NYSE C says While it s possible oil prices will dip even lower in near term Citi doesn t see this as sustainable Says 1x2 call spreads and outright short dated calls provide most attractive risk reward Trade ideas ...
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Big Citi Life And 500 Billion In U S Trade Democracy
The focus is on two key events Citigroup s net profit has increased by 14 Citigroup Inc NYSE C has reported net income for the second quarter of 2018 of 4 5 billion That s revenues of 18 5 billion compared to the same period in 2017 According to Citigroup CEO Michael Corbat the strong financial performance r...
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Nasdaq Down 20 S P 500 Down 14
Throughout 2015 I felt the market was in a topping phase due to complacency along with massive negative divergences on those key monthly index charts The market didn t fall much in 2015 but it refused to have sustainable upside action In the end the markets were down slightly for the year It took all of 2015 for...
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Real Money Moves Into Real Assets
It was a busy week of news in Master Limited Partnerships MLPs Although there were several earnings announcements perhaps most notable was the disclosure of new investments by Berkshire Hathaway N BRKa David Tepper s hedge fund Appaloosa and George Soros in much maligned Kinder Morgan N KMI Appaloosa also dis...
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iFOREX Daily Analysis 24 02 2016
The dollar was almost unchanged against the other major currencies on Tuesday as after the release of mixed U S economic reports and as oil prices dropped further The National Association of Retailers said that existing home sales rose 0 4 in January to 5 47 million units from 5 45 million units in December Analy...
JPM
Oil Edges Lower Gold Holds Stable
US stocks ended lower on Tuesday as the resumption of oil decline once again undermined investor confidence The dollar was little changed According to live dollar index data the ICE US Dollar Index a measure of the dollar s strength against a basket of six rival currencies was flat at 97 43 The S P 500 closed 1 3 ...
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China s Struggle Against Capital Flight
By SHANGHAI Two decades ago when he first set up his business in China the European businessman with an interest in design was captivated by seemingly boundless opportunities His company which tapped Chinese factories to manufacture high end garments quickly boomed soon his local staff swelled to two doze...
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Monsanto cuts first quarter earnings guidance
CHICAGO Reuters Monsanto Co N MON on Tuesday confirmed earlier guidance that its fiscal first quarter 2016 is expected to show an earnings per share loss in the 23 to 33 cent range amid continued pricing weakness in glyphosate fewer South American corn acres being planted and restructuring costs Market conse...
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Cisco Ericsson reveal bigger ambitions for revenues in new partnership
By Eric Auchard BARCELONA Reuters The 1 billion in added revenue Cisco and Ericsson ST ERICAs each expect to see by 2018 from their new partnership to build next generation networks is just the beginning top executives said on Wednesday Executives at both Cisco and Ericsson said in an on stage interview that t...
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Even as Prices Rise Japan Still Won t Say Deflation Is Dead
Bloomberg While Japan s consumer price index has been inching higher for almost a year the government still hasn t declared the nation to be officially free of deflation The question of how you can have rising prices but not be out of deflation might seem like a point for bureaucrats and academics to debate but...
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London based FX cartel traders will not fight U S extradition
By Jamie McGeever LONDON Reuters Three London based former currency traders facing U S charges that they tried to manipulate prices in the world s largest financial market have agreed not to fight extradition and will appear at a New York court hearing next month Rohan Ramchandani Richard Usher and Chris Ashton...
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Citi credit card write offs jump in May
Citigroup NYSE C May credit card write offs of 2 94 were up 60 basis points from April Card delinquencies of 1 5 slipped two basis points The big jump in write offs is notable considering the more benign experience at peers Previously Synchrony Financial credit card charge offs and delinquencies both dip in May ...
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Australian banks agree 4 6 billion tax hit not fatal but want foreign rivals included
By Jamie Freed SYDNEY Reuters Australia s five biggest banks on Friday agreed a surprise 4 6 billion tax can be absorbed without damaging the stability of the country s financial system or pushing lenders to move overseas but have asked that foreign rivals face the same levy Banks have criticized the tax as unfa...
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XLF Favourite For Shorting
As I trust I have made clear the financial sector is a favorite right now for shorting This chart of the XLF is based on over 30 years of staring at charts one of the most exciting and enticing opportunities I have ever laid eyes on The analog and breakdown have thus far been spot on As the earnings season kic...
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Here s How I Shorted JPM
Ideally I like holding a short 2 3 days Once I get profits in the 4 7 profits that is where I start getting itchy to cover my position While I embrace shorting stocks when the market calls for it I recognize too that I am swimming against the current every time I do 99 9 of the country wants the market to go h...
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Nasdaq Fell 18 In 6 Weeks Market Can t Go Straight Down Forever
If we study the market charts we can see quite clearly that we re seeing bear market action That said you can t go straight down forever The Nasdaq fell 18 in just six weeks By any bear market measurement this is too much too fast Price isn t the problem It s the speed of the move along with price Such a short ...
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Last Week Was More Of The Same For Gold And Silver
Which Is Good For Gold and Silver 12 February 2016 Friday was another day of extreme volatility a day when the Dow Jones closes 2 or more from a previous day s closing price However I suspect the policy makers ripped off Mr Bear this week On Monday and on Thursday the Dow Jones was down more than 2 intrad...
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Markets Last Week The Opposite Of Calm
Another violent week in the markets as each asset class had some security making a two standard deviation move Oil yen Bank Credits and plenty of Equity groups were bobbing in the winter surf last week Oil and Credit continued to be the main thermometers of the Equity markets while Yellen spent her time on the Hill...
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Shire to buy Dyax for 5 9 billion still wants Baxalta
By Ben Hirschler LONDON Reuters Shire Plc L SHP has agreed to buy U S rare disease specialist Dyax Corp O DYAX for about 5 9 billion and potentially up to 6 5 billion while still pursuing a five times larger unsolicited bid for Baxalta Inc N BXLT The Dyax deal the latest in a series of purchase...
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Jury hears opening arguments in Morgan Stanley insider trading trial
By Brendan Pierson NEW YORK Reuters A lawyer for Morgan Stanley N MS struck back sharply on Monday against an insider trading lawsuit brought by a Russian billionaire s company telling jurors it was one of the craziest most made up cases ever brought Attorney Jonathan Polkes fiery tone on the first day of...
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Square Inc IPO to value company at up to 4 2 billion
Reuters Mobile payments company Square Inc headed by Twitter N TWTR Inc Chief Executive Jack Dorsey said it expects its initial public offering to price at between 11 and 13 per share valuing the company up to 4 2 billion The company which expects to raise over 403 7 million had initially set a fundrais...
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Alibaba to pay about 3 7 billion for China s YouTube
By Anya George Tharakan and Devika Krishna Kumar Reuters Alibaba Group Holding Ltd N BABA agreed to buy Youku Tudou Inc N YOKU popularly known as China s YouTube for about 3 7 billion slightly more than it had offered in October The deal announced on Friday will give the e commerce giant access to mo...
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Premarket analyst action healthcare
Bluebird Bio NASDAQ BLUE initiated with Buy rating and 202 25 upside price target by Canaccord Genuity Audentes Therapeutics NASDAQ BOLD initiated with Outperform rating and 35 26 upside price target by BMO BeyondSpring NASDAQ BYSI initiated with Buy rating and 56 70 upside price target by Seaport Glo...
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Farming startup Indigo raises 203 million with help from Dubai fund
By Heather Somerville SAN FRANCISCO Reuters Farming technology startup Indigo has raised more than 200 million from investors to fund its efforts to reform how crops including wheat soybeans cotton and corn are grown around the world The Boston based company announced on Wednesday an additional 47 million inve...
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Citi snags Freepoint Commodities SVP sources
HOUSTON Reuters John Haynes a senior vice president for Freepoint Commodities has left the trading firm for Citigroup s energy division two sources familiar with the matter said on Monday Haynes who traded West Coast natural gas joined Freepoint in October 2014 He previously traded natural gas at EDF PA E...
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iFOREX Daily Analysis 09 02 2016
The dollar continues to lose ground against other major currencies on Monday but still remains supported amid ongoing concerns over the outlook for global growth Market sentiment was hit amid declining oil prices as hopes faded for a deal between major producers to reduce the excess in supply Meanwhile a report sho...
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A 918 Point Stock Market Crash In Japan
On Tuesday junk bonds continued to crash the price of oil briefly dipped below 28 dollars a barrel Deutsche Bank DE DBKGn was forced to deny that it is on the verge of collapse but the biggest news was what happened in Japan The Nikkei was down a staggering 918 points but that stock crash made very few headlines...
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Dollar Mixed As Markets Await Fed Chair Yellen
US markets ended mildly lower last night after see saw price actions DJIA lost 12 67 pts or 0 08 to close at 16014 38 while S P 500 lost 1 23 pts or 0 07 to close at 1852 21 Crude oil finally let go out 30 handle and dipped to as low as 27 74 and is trading around 28 4 for the moment 10 year yield breached 1 7...
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Asia private equity funds hurt Morgan Stanley s third quarter profit
By Denny Thomas and Lawrence White HONG KONG Reuters A dramatic fall in the value of Morgan Stanley s N MS Asian private equity funds hit the bank s quarterly earnings highlighting the risks of such investing at a time when rivals are scaling back to avoid losses and higher regulatory costs Morgan Stanley s i...
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Loss making online meal delivery firm HelloFresh plans flotation
By Arno Schuetze and Alexander H bner FRANKFURT Reuters Loss making ready to cook meal delivery company HelloFresh is readying a Frankfurt stock market listing that looks to capitalize on its rapid global expansion rising consumer demand for convenience and investor appetite for tech flotations The Berlin base...
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U S factory orders slip business spending robust
By Lucia Mutikani WASHINGTON Reuters New orders for U S made goods fell less than expected in October and shipments of core capital goods were much stronger than previously reported pointing to sustained strength in manufacturing that should buoy the economy Factory goods orders dipped 0 1 percent amid a drop in...
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CalAtlantic Group proposes offering of 300M of senior notes due 2027
CalAtlantic Group CAA 1 4 proposed public offering of 300M aggregate principal amount of a new series of unsecured senior notes due 2027 Citigroup NYSE C Global Markets Inc J P Morgan Securities LLC Mizuho Securities USA LLC Credit Suisse SIX CSGN Securities NYSE USA LLC BofA Merrill Lynch and Wel...
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Noble Group s lenders in talks on 2 billion credit line Financial Times
Reuters Noble Group s main banks are in talks to decide whether to give the commodity trader an extension on its credit line or force it into a restructuring or liquidation the Financial Times newspaper said on Tuesday citing sources with knowledge of the discussions Banks including HSBC Societe Generale PA ...
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Bizarre Gold And Silver Movements Occurring Behind The Scenes
A lot is riding on the demand side of the equation when it comes to metals price performance this year Demand is the bigger wildcard with signals thus far being mixed in gold and silver bullion markets The outlook for supply is more certain and it isn t pretty Endeavor Silver one of the largest primary silver min...
JPM
SPX Reverses Course USD Breaks Down
VIX rose above all near term resistance except the Cycle Top at 23 75 Most market watchers would not take alarm until the VIX exceeds 25 00 However the buy signal NYSE sell signal is confirmed The close above the neckline suggests a very robust follow through rally in the following week Traders are still sanguin...