Day: July 20, 2020

Twitter reels from colossal hack as new details surface
Stock News

Twitter reels from colossal hack as new details surface

Twitter is still piecing together information about a massive hack last week that compromised 130 accounts and ground the site to a halt for hours. The hack’s unprecedented scope initially gave rise to theories that it was carried out by a sophisticated nation-state actor, but it now appears it was conducted by young, less-experienced hackers. New details about the scope of the hack came to light over the weekend, with Twitter disclosing that hackers also stole data from eight of the compromised accounts. Meanwhile, lawmakers, cybersecurity experts, the FBI, and current Twitter employees are still trying to piece together exactly what happened. Visit Business Insider’s homepage for more stories. As the dust settles from one of the biggest hacks in Twitter’s history l...
Will restructured SAA take flight?
Stock News

Will restructured SAA take flight?

It has been just under eight months since South African Airways (SAA) was put into business rescue. The process to turn around the airline has been tumultuous to say the least and, with the business rescue plan almost at the point of implementation, the question is what will it take for it to fly? In June the director-general and chief executive officer of the International Air Transport Association (Iata), Alexandre de Juniac, said that “financially, 2020 will go down as the worst year in the history of aviation”. Airlines across the world have felt the impact of Covid-19, which has caused a collapse in air traffic due to countries across the world instituting lockdowns and closing international borders to stem the spread of the virus. De Juniac announced in June that the aviation ind...
NGL Energy Partners LP (NGL) Gains But Lags Market: What You Should Know
Stock News

NGL Energy Partners LP (NGL) Gains But Lags Market: What You Should Know

In the latest trading session, NGL Energy Partners LP (NGL) closed at $4.30, marking a +0.47% move from the previous day. This move lagged the S&P 500's daily gain of 0.84%. Meanwhile, the Dow gained 0.03%, and the Nasdaq, a tech-heavy index, added 2.51%. Heading into today, shares of the company had lost 23.57% over the past month, lagging the Oils-Energy sector's loss of 2.76% and the S&P 500's gain of 3.73% in that time. Wall Street will be looking for positivity from NGL as it approaches its next earnings report date. On that day, NGL is projected to report earnings of -$0.07 per share, which would represent year-over-year growth of 92.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.46 billion, down 77.98% from the year-ago period. NG...
How To Time The Market Without The Emotional Baggage
Stock News

How To Time The Market Without The Emotional Baggage

Investors aren’t supposed to try to time the market. There's little guarantee that a macroeconomic insight isn't already priced in. Worse, asset allocation decisions based on recent events are subject to the emotional and cognitive biases hardwired into the human brain. Don’t time the market – you’ll hurt yourself. In the long run, patience and an appropriate risk budget make winners out of most investors. I almost totally agree. I find the behavioral arguments against discretionary market timing very compelling (if difficult to follow myself). But I'm not 100% against market timing. Here's why. Emotionally, it’s easy for investors to talk a big game about the risk they can handle when markets are trending higher. But few people know themselves well enough to be sure they will react...
Breakout with Volumes–RPG Life , SH Kelkar, Deepak Fertilizers
Technical Analysis, Top Trading

Breakout with Volumes–RPG Life , SH Kelkar, Deepak Fertilizers

3 interesting charts which have seen good price volume action. Disclosure – Recommended to Clients a few days back in Technical Traders Club RPG Life – Good price and volume breakout and follow up in last few days. SH Kelkar – Good volumes in last few sessions and a strong close today. Also has seen a lot of Insider Buying. This was highlighted in our Insider Trading Report. Deepak Fertilizers – Waiting to breakout above the 122-125 mark and if it does would be a strong indication. ANALYSE WITH ME– A Practical Approach to Technical Analysis. Analyse with me is an addendum to the Online Video Course that we offer where we share our analysis of charts in a live webinar format (4 times in a month) on End of day basis. The ANALYSE WITH ME session is also open to anyone who has alrea...
Retail Sales Returning to Pre-COVID 19 Level: Best ETF Areas
ETFs

Retail Sales Returning to Pre-COVID 19 Level: Best ETF Areas

Retail sales in the United States jumped 7.5% sequentially in June 2020, following an upwardly revised record 18.2% rise in May. The reading surpassed market forecasts of a 5% gain as the coronavirus-led lockdown eased further. Consumer spending makes up about 70% of U.S. economic activity. Thus, any massive jump in it will likely brighten the economic growth picture. Below we highlight a few areas and the related ETFs that benefited the most. Notably, the winning areas matched with that of May. Clothing Many mall-based clothing stores were closed amid lockdowns. So, pent-up demand boosted spending in this segment. Apparel and accessories’ sales skyrocketed 105.1% sequentially in the month. However, sales were still 23.2% lower than Jun 2019. Investors should note that apparel sales ...
NLC India raises Rs 500 crore via commercial paper
Stock News

NLC India raises Rs 500 crore via commercial paper

NEW DELHI: NLC India Ltd on Monday said that it has raised Rs 500 crore by issuing commercial paper."NLC India Ltd has issued and allotted 10,000 nos of commercial paper of face value of Rs 5,00,000 each aggregating to Rs 500 crore in favour of ICICI Prudential Liquid Fund on July 20, 2020," the PSU said in a filing to BSE. NLC India Ltd is a navratna public enterprise under the Ministry of Coal. Source: ET Markets
Monday’s ETF with Unusual Volume: FVL
ETFs

Monday’s ETF with Unusual Volume: FVL

The First Trust Value Line 100 Exchange-Traded Fund ETF is seeing unusually high volume in afternoon trading Monday, with over 135,000 shares traded versus three month average volume of about 46,000. Shares of FVL were trading flat on the day. Components of that ETF with the highest volume on Monday were Microsoft, trading up about 2.6% with over 13.9 million shares changing hands so far this session, and Netflix, up about 0.1% on volume of over 6.0 million shares. Adobe is the component faring the best Monday, higher by about 4.1% on the day, while Equity Residential is lagging other components of the First Trust Value Line 100 Exchange-Traded Fund ETF, trading lower by about 2.9%. VIDEO: Monday's ETF with Unusual Volume: FVL The views and opinions expressed herein are the views a...
Dominant Currencies and the Limits of Exchange Rate Flexibility – International Monetary Fund
Forex News

Dominant Currencies and the Limits of Exchange Rate Flexibility – International Monetary Fund

By Gustavo Adler, Gita Gopinath and Carolina Osorio Buitron Faced with an unprecedented shock of collapsing global demand and commodity prices, capital outflows, major supply chain disruptions and a generalized drop in global trade, many emerging markets and developing economies’ (EMDEs) currencies have weakened sharply. Will these currency movements support the recovery of these economies? Building on a new dataset, research laid out in a new IMF Staff Discussion Note indicates that the short-term gains from weaker currencies may be limited. This is especially true for EMDEs where firms price their international sales and finance themselves in a few foreign currencies, notably the US dollar—so-called Dominant Currency Pricing and Dominant Currency Financing. The prevalence of dominant...
Dominant Currencies and External Adjustment – International Monetary Fund
Currencies

Dominant Currencies and External Adjustment – International Monetary Fund

Dominant Currencies and External Adjustment Author/Editor: Gustavo Adler ; Camila Casas ; Luis M. Cubeddu ; Gita Gopinath ; Nan Li ; Sergii Meleshchuk ; Carolina Osorio Buitron ; Damien Puy ; Yannick Timmer Publication Date: July 20, 2020 Electronic Access: Free Download. Use the free Adobe Acrobat Reader to view this PDF file Summary: The extensive use of the US dollar when firms set prices for international trade (dubbed dominant currency pricing) and in their funding (dominant currency financing) has come to the forefront of policy debate, raising questions about how exchange rates work and the benefits of exchange rate flexibility. This Staff Discussion Note documents these features of international trade and finance and explores their implications for how exchange rates can help ex...