Showing posts with the label Markets.

Markets | Nasdaq by MarketWatch. As stock market unravels Monday, here's the level the Nasdaq Composite needs to defend to avoid a correction Mark DeCambre 2-3 minutes ____________________________________________________________________________  The Nasdaq Composite was headed for a fifth straight decline Monday, with that drop in the technology-laden index putting it in jeopardy of falling into correction for the first time since March. At last check, the Nasdaq Composite COMP, -1.79% was down 2.3% , or 347 points, to reach 14,587. The index needs to stay above 14,451.69 to avoid a correction from its Nov. 19 record close peak. A correction is commonly defined by market technicians as a 10% fall from a recent peak. The Nasdaq Composite last week posted its biggest one-week percentage decline since February, as rising bond yields  punctured tech valuations . On Monday, the 10-year Treasury note

Markets: PayPal is exploring a Possible Stock-Trading Platform for U.S. Customers.

 Source: Kate Rooney 4-5 minutes PayPal is exploring a possible stock-trading platform. After rolling out the ability to trade cryptocurrencies last year, the payments giant has been exploring ways to let users trade individual stocks, according to two sources familiar with the plans. The San Jose, California-based company recently hired brokerage industry veteran Rich Hagen as part of the move, according to one of the sources. After leaving Ally Invest, Hagen is now the CEO of a previously unreported division of PayPal called Invest at PayP

Markets: Stocks Slump as Virus Rise and Bitcoin Dive.

Image Stocks Slump as Virus Cases Rise, Bitcoin Takes a Dive Steve Goldstein 3-4 minutes A rickshaw driver (C) waits for passengers in a market area in the old quarters of New Delhi, India on Apr. 19, 2021. AFP via Getty Images Stocks were down Monday even after encouraging comments on  Johnson & Johnson ’s  vaccine from Dr. Anthony Fauci. Bitcoin also declined over the weekend, a potential sign that market sentiment was turning. Dow Jones Industrial Average  futures fell 77 points, or 0.2%, while  S&P 500  futures decl

Is the Market Fair?

Image After GameStop, Six Ideas to Fix the Markets Andrew Ross Sorkin 8-10 minutes DealBook Six ideas for making the markets more fair and trustworthy. Credit...Gabriela Bhaskar for The New York Times There will be academic case studies on the mania around GameStop’s stock. There will be philosophical debates about whether this was a genuine protest against hedge funds and inequality or a pump-and-dump scheme masquerading as a moral crusade. Eventually, we will learn whether this was a transformational moment powered by social media that will shift the investing landscape forever, or a short-term blip that soon fades away. What’s less up for debate is this: The public has a deep distrust of the stock market and everything it represents. That lesson has been laid bare by the anger coursing through the Reddit posts and Twitter threads of GameStop traders and throngs cheering them on. What the Re

News | Business |Markets | Deals and IPOs: Saudi retailer BinDawood sees shares jump 10% in market debut

  Abigail Ng 3 minutes - Source: CNBC Saudis shop at a supermarket at the Panorama Mall in the capital Riyadh on May 22, 2020. Fayez Nureldine | AFP | Getty Images SINGAPORE — Shares of Saudi Arabian retailer BinDawood Holding rose on Wednesday as the firm made its market debut on the kingdom’s stock exchange. BinDawood Holding’s stock opened at 105.60 Saudi riyals on the Tadawul, hitting its daily limit. That’s up from its offering price of 96 riyals ($25.60), which was at the top end of the 84 riyals to 96 riyals per share range. The supermarket operator, which is listing 20% of its shares publicly for the first time, saw a subscription of 4,870% of the total offered shares. Ahead of the market open, Ahmad BinDawood, chief executive officer at BinDawood, said there was “very high demand” from both institutional and retail investors, and that they trust the company’s strategy and ability to deliver results. He told CNBC’s “Capi

News | Business | Markets: Ant Group gets Hong Kong stock exchange approval, clearing last major hurdle for its massive IPO

  Arjun Kharpal 1-2 minutes - Source: CNBC The Ant Group Co. logo and the Alibaba Group Holding Ltd. logo are displayed behind a reception desk at the company’s headquarters in Hangzhou, China, on Monday, Sept. 28, 2020. Qilai Shen | Bloomberg | Getty Images GUANGZHOU, China — Ant Group has received approval from the Hong Kong stock exchange for its highly-anticipated initial public offering (IPO), clearing the last major regulatory hurdle before its listing, CNBC has confirmed. The Chinese technology giant passed a hearing with the exchange on Monday, a person familiar with the matter said. Reuters first reported the news. Now Ant Group needs to file a registration with the Chinese regulators before proceeding with a roadshow and the eventual pricing of the IPO, the person, who preferred to remain anonymous as they are not authorized to speak publicly, added. Ant Group declined to comment when contacted by CNBC. The Hong Kong

News | Business | Markets View: How the U.S. election could affect Europe's markets, economy and trade

  Holly Ellyatt 6-7 minutes - Source: CNBC President Donald Trump waves to the crowd as he leaves after speaking during a campaign event at the Orlando Sanford International Airport on October 12, 2020 in Sanford, Florida. Joe Raedle | Getty Images News | Getty Images The forthcoming U.S. election matters not only for the American people and the country’s economy; the outcome of the vote in November will also have a significant impact across the Atlantic. Europe’s financial markets and economic prospects will be affected by whoever enters (or remains) in the White House after the vote, according to economists and strategists. Market uncertainty U.S. politics are a “serious risk” to Europe’s economy, according to Berenberg Bank’s Chief Economist Holger Schmieding. He warned this week that a contested election outcome could lead to “serious uncertainty and significant street protests” in the U.S. by supporters of the losing sid

News | Business | Markets: IMF warns of ‘sharp adjustment’ in financial markets despite 'remarkable' recovery this year

  Silvia Amaro 3-4 minutes - Source: CNBC Equity markets could tank in the coming months if the coronavirus crisis persists and the economic recovery takes longer than expected to materialize, the International Monetary Fund warned on Tuesday. Stock markets have come off their September lows and are broadly higher year-to-date. The S&P 500 is up about 8% since the start of 2020 and the tech-heavy Nasdaq is over 30% higher for the same period. This positive momentum in equities has contrasted with the severe economic shock caused by the coronavirus pandemic. "A disconnect persists, for example, between financial markets — where there have been rising stock market valuations (despite the recent repricing) — and the weak economic activity and uncertain outlook," Tobias Adrian, the IMF's director of the monetary and capital markets department, wrote in a blog post on Tuesday. However, he warned that if the econom

News | Business | Markets: Palihapitiya finds next '10x idea' with $4.8 billion SPAC deal for real estate start-up Opendoor

Leslie Picker 4-5 minutes - Source: CNBC Chamath Palihapitiya Olivia Michael | CNBC Chamath Palihapitiya pioneered taking private unicorns public by reverse merging them into special purpose acquisition companies, or SPACs — an idea he’s called “IPO 2.0.”  After his first iteration of doing so last year with space-tourism company Virgin Galactic , he’s found his next target: Opendoor, an online marketplace for buying and selling houses.  “These guys are my next 10x idea,” Palihapitiya said in an interview with CNBC, noting the prospect of generating returns worth 10 times the original investment.  The investment, announced Tuesday, amounts to more than $1 billion. Opendoor will receive $414 million from the capital generated from the April initial public offering of his SPAC, Social Capital Hedosophia II . Additionally, a group of investors, including Palihapitiya and funds managed by BlackRock, agreed to infuse another $600 mill

News | Business | Markets: Sttanley Druckenmiller says the stock market is in an 'absolute raging mania'

Fred Imbert 2-3 minutes - Source: CNBC The stock market is in a mania fueled by the Federal Reserve and investor speculation that will end badly in coming years, longtime hedge fund manager  Stanley Druckenmiller  told CNBC on Wednesday. “Everybody loves a party ... but, inevitably, after a big party there’s a hangover,” the billionaire CEO of the Duquesne Family Office said in a “ Squawk Box ” interview. “Right now, we’re in an absolute raging mania. We’ve got commentators encouraging companies to do stock splits. Companies then go up 50%, 30%, 40% on stock splits. That brings no value, but the stocks go up.” Tesla shares rallied 82.5% from Aug. 11 — when the company announced a 5-for-1 stock split — to Aug. 31, when the split took effect. Apple jumped 34.2% between July 30 and Aug. 31 on news of a 4-for-1 stock split. The stock has fallen more than 12% since the split took effect. The S&P 500 is up more than 51% after hitting an intraday low on Marc

News | Business | Markets: New Zealand's stock exchange halts trading for third day in a row

Saheli Roy Choudhury 2 minutes - Source: CNBC An electronic screen displays international currency rates and the NZ markets on the side of a building on February 7, 2018 in Auckland, New Zealand. Phil Walter | Getty Images News | Getty Images Trading was halted on New Zealand’s  stock exchange on Thursday for a third day in a row following a cyber attack earlier in the week. Bourse operator New Zealand’s Exchange said trading in its cash markets stopped at around 11:10 a.m. local time due to network connectivity issues relating to this week’s cyber attacks. It then made the decision to not re-open the NZX Main Board, the NZX Debt Market and Fonterra Shareholders’ Market for the rest of the trading day and closed the NZX Derivatives Market. “This decision not to re-open has been made while we focus on addressing the situation. We continue to address the threat and work with cybersecurity experts, and we are doing everythin

News | Business | Markets: Assets in ESG exchange traded funds and products top $100bn

Alf Wilkinson 3 minutes - Source: FT Global assets held in exchange traded funds and products invested according to good environmental, social and governance principles surpassed $100bn last month, according to research by ETFGI, a consultancy. The milestone was breached after $6.76bn of net inflows in July, which brought assets in globally listed ESG ETFs and ETPs to a total of $101bn, up from $88bn at the end of June. ESG vehicles domiciled in Europe accounted for 51.6 per cent of those assets, while US-based ETFs and ETPs held just over 40 per cent of the market. By the end of July, global ETFs and ETPs had garnered $38.8bn of net new money, far more than the $12.4bn such vehicles gathered in the same period of 2019 and the $26.7bn of net inflows recorded over the entire year. This article was previously published by Ignites Europe , a title owned by the FT Group. ETFGI resea

News | Central Banks | Markets: Global stocks drop after Fed minutes leave investors uneasy

Adam Samson and Hudson Lockett  4-5 minutes - Source: FT Stock markets were knocked on Thursday after the US Federal Reserve signalled it was not immediately prepared to deploy further unconventional measures to shore up the world’s biggest economy. Equities in Europe and Asia sustained selling pressure after a summary of the US central bank’s July meeting indicated “many” members of its policy-setting committee were unwilling to launch measures that would attempt to place a cap on yields of US government bonds. Europe’s Stoxx 600 index declined 1.4 per cent in early trading on Thursday as indices in London, Paris and Frankfurt dropped. MSCI’s broad gauge of Asia-Pacific stocks shed 1.6 per cent while futures tracking Wall Street’s S&P 500 suggested the index would fall around 0.7 per cent. The rebound in global markets since a rout in February and March, which took Wall Street stocks to record peaks this week, has been

News | Business | Markets: Global shares rally as investors bet on new stimulus

Harry Dempsey & Hudson Lockett   4-5 minutes - Source: FT Shares across Europe and the Asia-Pacific region rose as investors pinned their hopes on Washington pushing through more support measures to limit the economic damage from the coronavirus crisis. The continental benchmark Stoxx 600 gained 1.7 per cent on Tuesday morning. London’s FTSE 100 mirrored those gains, even after data showed that the UK has shed 730,000 jobs since the start of the outbreak. Japan’s benchmark Topix index added 2.5 per cent on Tuesday as traders in Tokyo returned from a long weekend. Hong Kong’s Hang Seng index climbed 1.7 per cent while China’s CSI 300 of Shanghai- and Shenzhen-listed shares reversed gains to fall 0.4 per cent. Wall Street’s S&P 500 was set to notch up a 0.5 per cent gain when trading begins later in the day, after the US index came within 1 per cent of its intraday all-time high on Monday. Investors are hopef

World | Markets: Global Markets Fall on Coronavirus News: Live Updates

11-14 minutes - Source: NYT Right Now European markets opened lower after a mixed trading day in Asia. Image Credit...Kiichiro Sato/Associated Press Global markets edge lower as investor enthusiasm wanes. Global markets edged lower on Wednesday amid ebbing optimism over global progress in fighting the coronavirus. European markets opened lower after a mixed trading day in Asia. Futures markets were predicting a moderately positive morning for Wall Street later in the day. Prices for U.S. Treasury bonds were higher, in a sign of market skittishness. Oil prices were largely flat. Stocks in the United States tumbled the day before on news that undercut optimism from earlier in the week. Experts quoted by Stat, a medical news site, said they did not have enough data to assess whether a promising new vaccine would be effective in fighting the coronavirus. U.S. officials told lawmakers on Tuesday that an American economic recovery wou