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Showing posts from June, 2021

Notification: From the The Desk of Fernando Guzmán Cavero.

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 Dear Friends Tomorrow, Friday, June 25, 2021  I will be doing maintenance to my Computers and I may not be with you at regular Hours. Please Stay tuned that as I  finish with it, I will be back as soon as possible Fernando Guzmán Cavero

Infrastructure and the stock market: Here’s what the $1 trillion deal means by William Watts in marketWatch.

 Source: marketwatch.com William Watts 4-5 minutes Your browser does not support the audio tag. Listen to Article  4 minutes This feature is powered by text-to-speech technology. Want to see it on more articles? Give your feedback below or email audiofeedback@marketwatch.com . Maybe it really is infrastructure week. Stock-market investors applauded Thursday, pushing the Dow Jones Industrial Average DJIA, +0.95% sharply higher and scoring another round of record finishes for the S&P 500 SPX, +0.58% and Nasdaq Composite COMP, +0.69% , after President Joe Biden announced that he and a bipartisan group of lawmakers had a deal on a $1 trillion infrastructure package. Investors have spent years weighing the prospect of a sizable infrastructure spending bill. The breakthrough was welcome after weeks of strain

Metaals | Spot Prices as of Close of Trading in New York.

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 Source: CMI                 Spot Prices as of close of trading in New York   Thursday, June 24, 2021       GOLD   TODAY   $1,775.14 CHANGE   - $7.91 WEEK AGO   $1,777.00 MONTH AGO   $1,815.35 YEAR AGO   $1,725.68 SILVER   TODAY   $25.94 CHANGE   - $0.10 WEEK AGO   $25.86 MONTH AGO   $27.31 YEAR AGO   $17.91 PLATINUM   TODAY   $1,098.00 CHANGE   + $2.50 WEEK AGO   $1,053.00 MONTH AGO   $1,255.35 YEAR AGO   $851.90 PALLADIUM   TODAY   $2,648.00 CHANGE   + $16.16 WEEK AGO   $2,528.50 MONTH AGO   $2,941.55 YEAR AGO   $1,987.26 GOLD/SILVER RATIO   68.43  

U.S. Market at Close Report: S&P 500 Closed at its Record While Dow Jumps 320 Points has Biden Reaches Infrastructure Deal.

  Source: cnbc.com Yun Li 3 minutes U.S. stocks jumped to session highs on Thursday after President Joe Biden declared that the White House struck an infrastructure deal with a bipartisan group of senators. The S&P 500 rose 0.6% to hit an all-time high, retaking its previous record from June 14 and fully recouping the losses triggered by the Federal Reserve's surprise policy pivot. The Dow Jones Industrial Average added 340 points, or 1%, sitting about 2.5% from its all-time high. The Nasdaq Composite jumped 0.7% to reach another record. The infrastructure deal was expected to include more than $500 billion in new spending above the baseline set by Congress, much less than Democrats first proposed. Republicans have fought the president's proposal to hike the corporate tax rate to 28% from 21%. A broad group of stocks gained to push the benchmarks to new highs. Financials, consumer discretionary, healt

Europe Markets at Close Report: European Markets Close Higher While Investors Digest The Bank of England Decision.

  Source: cnbc.com Elliot Smith 3-4 minutes LONDON — European stocks closed higher on Thursday as investors reacted to the latest decision from the Bank of England, and monitored various data releases. The pan-European Stoxx 600 ended the session up by 0.9%, with travel and leisure shares climbing 1.8% to lead gains, while telecoms bucked the upward trend to slide 0.1% lower. In the U.K., the FTSE 100 rose after the Bank of England kept its monetary policy unchanged but vowed to monitor rising inflation. The index added to earlier gains and was trading around 0.5% by the close. The British pound was down about 0.4% versus the dollar. The Bank of England's Monetary Policy Committee voted unanimously to keep the main lending rate at a historic low of 0.1%, and a majority voted to maintain asset purchases at the current level of £895 billion ($1.24 trillion). It comes amid a choppy week for markets, w

How Much is Bitcoin Worth According To JPMorgan?

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Source:  marketwatch.com Jack Denton 7-9 minutes Stocks are set to continue inching higher on Thursday, as markets relax about inflation risks and exact details of what’s coming from the U.S. Federal Reserve.  The cryptocurrency market is down significantly on the week, having lost $1 trillion of market capitalization from its peak of $2.5 trillion in early May, said a group of analysts led by Nikolaos Panigirtzoglou at investment bank JPMorgan JPM, +0.61% .   Panigirtzoglou and his team have our call of the day , giving bitcoin a fair value of $23,000 to $35,000 over the medium term, based on the relationship between its volatility and gold’s, as the crypto faces new headwinds. The signal of the newest major challenge bitcoin faces, according to the team at the investment bank, is that the discount to the net asset value for the biggest bitcoin fund — the Grayscale Bitcoin Trust — has widened d

The Cybersecurity: Chris Krebs Sees a Future of the National and Infrastructure Security Agency.

Source :  washingtonpost.com Joseph Marks 8-10 minutes Chris Krebs, the ex-director of the Cybersecurity and Infrastructure Security Agency, envisions far broader responsibilities for his former agency in the coming years.  As cyberattacks rise against U.S. industries and increasingly threaten economic security and public safety, Krebs sees a greater role for CISA helping industries protect themselves from hackers and possibly policing minimum cybersecurity requirements in highly critical sectors.  “ I think that what you're seeing is a recognition across the senior levels of government that the status quo is not working right now, given the escalation in the threat landscape ,” he told me.  Krebs also advocated a funding increase for the cybersecurity agency to counter the rising threats, calling a $500 million budget boost suggested by Senate Majority Leader Chuck Schumer (D-N.Y.) and others “on track.” Kr

Oil Price Report (Morning Edition): : Oil slips Near its Three-year Highs sAmid Recovery Sign

 Source: cnbc.com Reuters 3 minutes Oil prices dipped modestly on Thursday but still held close to their highest in almost three years, supported by drawdowns in U.S. inventories and accelerating German economic activity. Doubts about the future of the 2015 Iran nuclear deal that could end U.S. sanctions on Iranian crude exports also helped prices. Brent dipped 18 cents, or 0.24%, to $75.01 a barrel, after earlier rising to $75.78. U.S. crude slipped 17 cents, or 0.23%, to $72.91 a barrel, after hitting a session high of $73.61 earlier. Both benchmarks had hit their highest since October 2018 on Wednesday before slightly paring back gains. "The narrative is unchanged: the bounce in Western-world commuting and leisure activity fuels oil demand and drains oil supplies," Norbert Rücker, head of economics at Julius Baer, wrote in a note. Further stoking expectations of a European fuel demand recovery, data fro

Gold Price Report: Gold subdued after mixed signals from U.S. Fed

Source: cnbc.com Reuters 2-3 minutes Gold prices languished on Thursday as investors tried to grasp mixed signals from U.S. Federal Reserve officials on interest rate hikes and awaited more economic data to gauge inflationary pressures. Spot gold was down 0.1% at $1,776.20 per ounce, while U.S. gold futures fell 0.3% to $1,777.30. Gold has risen 0.7% so far this week, after last week's 6% decline. "Now the focus is on inflation ... gold needs a clear trigger to go higher than $1,800 but I am skeptical about that," said Jigar Trivedi, commodities analyst at Mumbai-based broker Anand Rathi Shares. Two Fed officials said on Wednesday a period of high inflation in the United States may last longer than anticipated, with Atlanta Fed President Raphael Bostic expecting a rate hike in late 2022. The remarks helped the dollar index steady near an 11-week high, after weakness earlier this week due to Fed Chairman Jerome Po

Bonds | Treasury Yields Report (Morning EDition): 10-year Treasury Yield Flat ahead of Jobs Data

 Source: cnbc.com 10- year Treasury yield is flat ahead of jobs data Vicky McKeever 2 minutes U.S. Treasury yields were mostly flat on Thursday morning, after two Federal Reserve officials warned that higher inflation might be around for longer than anticipated. The yield on the benchmark 10-year Treasury note was little changed at 1.49% The yield on the 30-year Treasury bond was also flat at 2.11%. Yields move inversely to prices. Treasurys Atlanta Fed President Raphael Bostic and Fed Governor Michelle Bowman both said on Wednesday that while they believed inflationary pressures would be temporary, they also thought that prices could remain higher for longer than expected, according to a Reuters report . This comes after Fed Chairman Jerome Powell played down inflation fears, in comments made to Congress on Tuesday , saying that it was "very, very unlikely" the U.S. would see 1970s-style price press

The Dollar Exchange Rate: The Dollar inches Down Ahead of Bank of England Meeting

Source: cnbc.com Reuters 3-4 minutes The dollar slipped on Thursday, having spent the week gradually edging away from two-month highs hit after the U.S. Federal Reserve's surprise hawkish shift at its meeting last week. Currency markets were quiet as traders weighed up different signals from Federal Reserve officials on the timing of a withdrawal of monetary stimulus. The dollar index was down 0.1% at 1023 GMT, having pared back some gains after hitting a two-month high of 92.408 on Friday. The euro was a touch higher against the dollar, up 0.2% on the day at $1.19465. German business morale rose by more than expected in June and hit its highest level since November 2018, an Ifo survey showed. The dollar got some support overnight from two Fed officials saying that a period of higher inflation in the United States could last longer than expected. But on Tuesday, Fed Chair Jerome Powell had said that price pressures should ease

Biggest Moves Premarket: Eli Lilly, Accenture, Rite Aid & More.

  Source: cnbc.com Peter Schacknow 4 minutes Take a look at some of the biggest movers in the premarket: Eli Lilly (LLY) – The drugmaker's shares surged 8.7% in the premarket after Lilly's Alzheimer's treatment received "breakthrough therapy" designation from the Food and Drug Administration. The designation means the treatment may show substantial improvement over existing therapies and qualifying it for expedited development and approval. Accenture (ACN) – The consulting firm beat estimates by 17 cents a share, with quarterly profit of $2.40 per share. Revenue topped Street forecasts as well. Accenture saw increasing demand for digital transformation services, with more companies moving to adapt to a hybrid work model. Accenture also raised its full-year forecast, and its stock jumped 4.3% in premarket trading. Rite Aid (RAD) – The drugstore chain reported quarterly earnings of 3

U.S. Market Futures Indication: Dow Futures Added 191 Points to Surpass its Record High.

Source: cnbc.com Hannah Miao 3-4 minutes Stock futures jumped on Thursday with the S&P 500 poised to surpass its record high set a week ago. Futures on the Dow Jones Industrial Average added 191 points, or 0.6%, on Thursday. The move implied an open about 200 points higher. S&P 500 futures added 0.5% and Nasdaq 100 futures gained 0.6%. A broad group of stocks were jumping in premarket trading and set to push the benchmark above a new all-time high. Tesla added more than 2%, while GM and Caterpillar each gained about 1%. Despite a slight decline Wednesday, the S&P 500 is up 1.8% so far this week and sits just 0.4% from an all time high set last Tuesday, the day before a Federal Reserve policy update caused a dip in the market. Investors await new jobs data set to be released at 8:30 a.m. ET which is expected to show weekly jobless claims fell to 380,000 from 412,000 the week prior, according to economists polled by

Asia-Pacific Markets at Close: Asia-Pacific Markets Struggling For Direction Amid Japan and China Closing Flat.

 Source: cnbc.com Eustance Huang 2 minutes SINGAPORE — Shares in Asia-Pacific struggled for direction on Thursday, with major indexes in Japan and mainland China closing flat. Mainland Chinese stocks closed mixed as the Shanghai composite finished the trading day largely flat at around 3,566.29 while the Shenzhen component dipped 0.398% to 14,784.80. Over in Hong Kong, the Hang Seng index advanced about 0.2%, as of its final hour of trading. In Japan, the Nikkei 225 ended the trading day flat at 28,875.23 while the Topix index slipped 0.1% to close at 1,947.10. South Korea's Kospi gained 0.3% on the day to 3,286.10. Meanwhile, the S&P/ASX 200 in Australia declined 0.32%, closing at 7,275.30. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.14%. Overnight stateside, the S&P 500 slipped 0.11% to 4,241.84, ending a two-day winning streak. Still, the index sits 0.4% from an all-time high. The