Reported 2 months ago
Investors have sharply reduced their equity exposure to the lowest levels since the Covid pandemic, following a week of market volatility, according to Deutsche Bank data. Allocations to stocks have fallen to the 31st percentile, down from the 97th percentile three weeks ago, reflecting concerns about a potential US recession and slowing corporate earnings growth. While there are expectations for slight increases in S&P 500 profits in the coming quarters, market volatility remains high, causing systematic funds to reassess their positions.
Source: YAHOO
Reported 2 months ago
Warren Buffett's Berkshire Hathaway has recently increased its stake in Chubb Limited, the world's largest publicly traded insurance provider, raising questions among investors about whether to follow suit. Chubb has shown strong growth, with revenues and core operating income rising significantly, making it an appealing investment option despite the broader market uncertainties. Although it's not the most exciting stock, its stability and consistent performance could make it a wise choice for cautious investors.
Source: YAHOO
Reported 2 months ago
This article highlights three solid dividend stocks that investors can purchase for $100, namely Pfizer, Hercules Capital, and Verizon. These companies provide an average yield of approximately 7.6%, with Pfizer at 5.9%, Hercules Capital at 10.3% with supplemental dividends, and Verizon at 6.5%. Each stock is characterized by its reliable dividend payment history and potential for growth, making them appealing options for passive income generation.
Source: YAHOO
Reported 2 months ago
Morgan Stanley's Michael Wilson indicates that unclear growth signals and deteriorating corporate earnings forecasts are likely to limit gains in the stock market. He expects the S&P 500 Index to fluctuate between 5,000 and 5,400 points, reflecting minimal upward movement or a potential decline. With analysts anticipating more profit downgrades than upgrades, Wilson highlights that the upcoming periods may be particularly challenging for stocks, despite a strong earnings season in the second quarter.
Source: YAHOO
Reported 2 months ago
As the 2024 election approaches, potential trade policy changes under a Harris-Walz administration could differ from the current Biden-Harris administration. Experts suggest this new administration might adopt a more favorable stance towards trade, with both Kamala Harris and Tim Walz expressing skepticism toward traditional tariff policies. Walz, in particular, has highlighted the negative impacts of tariffs on agricultural communities, suggesting a shift towards more trade-friendly relations could emerge if they win the election.
Source: YAHOO
Reported 2 months ago
Standard Chartered has integrated its industries coverage team into its mergers and acquisitions advisory unit, terminating over 20 positions globally to avoid redundancy. This restructuring, which launched on Friday, aims to enhance efficiency within the investment bank and boost its focus on significant cross-border clients, with the mergers and advisory team now growing to over 100 bankers.
Source: YAHOO
Reported 2 months ago
Stocks faced uncertainty ahead of key US economic data, notably inflation reports, amidst geopolitical tensions. The S&P 500 remained flat as investors hesitated, waiting for signals about the economy's health. Oil reached $80, reflecting concerns over potential conflicts, while market volatility increased. Analysts suggested it might be a time to reassess investments, as upcoming reports could influence the Federal Reserve's interest rate decisions.
Source: YAHOO
Reported 2 months ago
Gold Fields Ltd. has reached an agreement to acquire Osisko Mining Inc. for C$2.16 billion ($1.6 billion), driven by soaring gold prices prompting expansion efforts. This acquisition gives Gold Fields full ownership of the Windfall project in Quebec and aims to enhance its operations beyond South Africa. The deal includes a 66.7% premium on Osisko's recent closing price, with expectations for completion by the end of the year, while Gold Fields plans to fund the purchase through cash reserves and new debt.
Source: YAHOO
Reported 2 months ago
Vietnam is set to implement electricity subsidies for electric vehicle (EV) charging stations to encourage EV usage and fulfill its energy transition goals. The proposal, aimed at achieving carbon neutrality by 2050, will be submitted for government approval by mid-September. The country currently has over 150,000 charging ports, primarily managed by EV manufacturer VinFast. Additional incentives for EV production and user transitions from internal combustion vehicles are also in the works.
Source: YAHOO
Reported 2 months ago
The average Social Security benefit for retirees varies significantly based on claiming age, with the average for 62-year-olds at $1,311, for 65-year-olds at $1,583, and for 70-year-olds at $2,068. Claiming Social Security at 70 can lead to substantially higher monthly benefits, making it important for future retirees to understand how age impacts their benefits.
Source: YAHOO
Reported 2 months ago
Asian shares showed mixed results on Monday with Tokyo and Bangkok markets closed for holidays. South Korea's Kospi rose by 1.1%, bolstered by gains in technological stocks, while Hong Kong's Hang Seng and Shanghai Composite saw slight increases. Investors await significant U.S. economic reports this week, particularly on inflation and retail sales, after a tumultuous week where concerns over economic slowing led to heavy market fluctuations.
Source: YAHOO
Reported 2 months ago
At least four Chinese brokerages have implemented measures to restrict trading of domestic government bonds following guidance from authorities, amidst concerns of a potential bond market bubble. Trading volumes have seen a significant drop, and yields on bonds are starting to rise after hitting record lows, signaling a shift in investor sentiment. The People's Bank of China has reiterated warnings about the risks in the current bond market.
Source: YAHOO
Reported 2 months ago
Recent analysis from CryptoQuant indicates that Bitcoin (BTC) may be approaching a 'local bottom' following a sell-off in early August. The platform's NVT-GC tool reveals bullish signals, suggesting potential for growth despite previous warnings of a BTC/USD breakdown. This indicator suggests a rebound, with current readings indicating a similar local bottom to previous instances that preceded significant price recoveries. Currently priced at $58,681, Bitcoin has seen a 7.58% increase over the past week, even as it grapples with a dip below the $60,000 mark.
Source: YAHOO
Reported 2 months ago
The Reserve Bank of New Zealand may announce an interest rate cut this Wednesday, potentially departing from its earlier guidance. With inflation slowing and unemployment rising, market expectations have surged for a rate decrease from the current 5.5%. A recent survey revealed that many analysts anticipate the central bank will act sooner than expected, with a significant portion predicting a reduction to 5.0% by year's end.
Source: YAHOO
Reported 2 months ago
South African chemicals and fuel producer Sasol Ltd. announced that its earnings will be severely impacted by $3 billion worth of impairments across its American and South African operations. The company indicated that the basic loss per share for the fiscal year ending June 30 is expected to be significantly lower than the previous year's profit due to major write-downs in the value of its chemicals and refining units.
Source: YAHOO
Reported 2 months ago
Source: WSJ
Reported 2 months ago
South Korean officials convened to address safety issues surrounding electric vehicles (EVs) after a significant fire involving a Mercedes-Benz EV caused extensive damage in an underground parking garage. The incident, which sparked consumer fears, led to discussions on requiring manufacturers to disclose battery brands in EVs. This fire was part of a growing number of vehicle fires attributed to electrical sources, prompting new safety regulations that are expected to be announced shortly.
Source: YAHOO
Reported 2 months ago
Schlatter Industries, a company based in Switzerland, reported a cyberattack on its IT network involving malware aimed at extorting the firm. The attack occurred on Friday, prompting the company to implement security measures and investigate potential data theft while working with authorities to restore system functionality.
Source: YAHOO
Reported 2 months ago
Asian markets opened the week quietly with Japan on holiday, while most markets showed slight gains led by Taiwan. Wall Street futures remain flat as traders await key U.S. consumer price data and retail sales figures this week, which could impact the Federal Reserve's monetary policy amid ongoing geopolitical tensions in the Middle East.
Source: YAHOO
Reported 2 months ago
Adani Group's stocks fell sharply following accusations from Hindenburg Research against India's top market regulator, alleging conflicts of interest that hindered a thorough investigation into fraud claims. Shares of Adani Enterprises and Adani Energy Solutions dropped significantly, contributing to a broader decline in the conglomerate's market value. These developments come amid escalating tensions following a previous report by Hindenburg that prompted a severe selloff, wiping out over $150 billion in value.
Source: YAHOO
Reported 2 months ago
As Paris holds its closing ceremony for the 2024 Olympics, Los Angeles prepares to host the 2028 Games, marking the city's third time in this role. Mayor Karen Bass accepted the Olympic flag from Paris, with Tom Cruise symbolically kicking off the countdown. The LA 2028 organizing committee aims for a 'no-build' approach, revitalizing existing venues while focusing on broader public transit solutions and security measures as the city anticipates challenges such as crime and homelessness.
Source: YAHOO
Reported 2 months ago
Private credit firms are increasingly moving into consumer lending, diversifying from traditional corporate loans due to tougher market conditions and rising unemployment. Major players like Fortress Investment Group and KKR are acquiring consumer loans, but concerns grow over credit quality as delinquencies rise and economic challenges persist. Despite the risks, the private credit sector is projected to see significant growth, highlighting both opportunities and potential pitfalls in this burgeoning field.
Source: YAHOO
Reported 2 months ago
UK inflation is projected to rise to 2.3% in July, marking the first increase in 2024, which may compel the Bank of England to maintain its cautious approach on interest rates. With the job market expected to loosen and possible unemployment rise, the central bank faces a balancing act as it monitors economic recovery while managing inflationary pressures. Upcoming economic data will be critical in influencing BOE policy decisions moving forward.
Source: YAHOO
Reported 2 months ago
China successfully flew its largest unmanned cargo drone with a payload capacity of 2 tons, as part of its efforts to develop a low-altitude economy. The aircraft, built by Sichuan Tengden Sci-tech Innovation Co., completed a 20-minute inaugural flight in Sichuan province. The Chinese government aims for a 2-trillion-yuan ($279 billion) industry by 2030 in aerial transport, with plans for both cargo and passenger drones to enhance delivery efficiency and expand services in urban areas.
Source: YAHOO
Reported 2 months ago
China's 10-year bonds continued to decline after the People's Bank of China (PBOC) raised concerns about risks in the bond market. The PBOC's quarterly report highlighted potential losses from wealth management products tied to bonds due to interest rate fluctuations. As a result, the benchmark yield rose, indicating increased investor caution amid government efforts to regulate excessive capital flows into the bond market.
Source: YAHOO