August 2020 - We Beat the Broker

Expect market regulation ‘avalanche’ if Biden beats Trump — Mulvaney

31Aug

By WBTBNo Comments

Crypto News

Expect market regulation ‘avalanche’ if Biden beats Trump — Mulvaney

Former Trump chief of staff Mick Mulvaney says a Joe Biden presidency would cause an “avalanche” of regulations. Some economists have also voiced concerns that the Biden administration would lead to a stock market pullback. This has led many crypto analysts to ponder what impact a strong stock market correction would have on the price of Bitcoin (BTC). During an interview on CNBC’s Squawk Box, Mulvaney said Biden would push many regulations in a short period. He stated: "If Trump wins you'll see a lot more of the same. He's laid down the markers to what his attitudes are about regs. If Joe Biden wins, you're going to see an absolute avalanche of regs in a very short period of time.” Data from Skew shows Bitcoin has seen more correlation with gold than stocks in recent months. H...

American Express (AXP) Dips More Than Broader Markets: What You Should Know

31Aug

By WBTBNo Comments

Stock News

American Express (AXP) Dips More Than Broader Markets: What You Should Know

American Express (AXP) closed at $101.59 in the latest trading session, marking a -0.93% move from the prior day. This change lagged the S&P 500's daily loss of 0.22%. Elsewhere, the Dow lost 0.78%, while the tech-heavy Nasdaq added 0.68%. Coming into today, shares of the credit card issuer and global payments company had gained 8.34% in the past month. In that same time, the Finance sector gained 5.39%, while the S&P 500 gained 9.15%. Wall Street will be looking for positivity from AXP as it approaches its next earnings report date. The company is expected to report EPS of $1.27, down 38.94% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $8.80 billion, down 19.9% from the year-ago period. For the full year, our Zacks Consen...

Zoom shares soar after revenue more than quadruples from last year

31Aug

By WBTBNo Comments

Business news

Zoom shares soar after revenue more than quadruples from last year

Zoom Video Communications Inc. founder and CEO Eric Yuan at the company's IPO at Nasdaq MarketSite in New York, April 18, 2019. Zoom Video Communications shares rose as much as 25% in extended trading on Monday after the company reported fiscal second-quarter earnings that were better than analysts had expected and raised its full-year guidance significantly. Here's how the company did: Earnings: 92 cents per share, adjusted, vs. 45 cents per share as expected by analysts, according to Refinitiv. Revenue: $663.5 million, vs. $500.5 million as expected by analysts, according to Refinitiv. Revenue grew 355% on an annualized basis in the fiscal second quarter, which ended on July 31, according to a statement. In the prior quarter Zoom's revenue grew 169%. New customers' subsc...

Coronavirus cases are on the rise again across more than half of the U.S.

31Aug

By WBTBNo Comments

Business news

Coronavirus cases are on the rise again across more than half of the U.S.

Medical staff attends to a patient suffering from the coronavirus disease (COVID-19) in the Intensive Care Unit (ICU), at Scripps Mercy Hospital in Chula Vista, California, May 12, 2020. Lucy Nicholson | Reuters Coronavirus cases are rising across more than half of the nation even as the outbreak slows across former hotspots in Arizona, Florida, California and Texas. New cases are up by at least 5%, based on a seven-day average, in 26 states as of Sunday, compared with just 12 states a week ago, according to a CNBC analysis of data compiled by Johns Hopkins University. In Arizona, Florida, California and Texas, new cases are declining by at least as much, though those states still accounted for nearly 10,000 new cases combined on Sunday — or about a fourt...

Sebi relaxes default recognition norms for Covid-related debt restructuring

31Aug

By WBTBNo Comments

Stock News

Sebi relaxes default recognition norms for Covid-related debt restructuring

NEW DELHI: Markets regulator Sebi on Monday asked credit rating agencies not to consider as default the restructuring of debt done solely due to COVID-19 related stress by lenders. The move comes after the Reserve Bank of India (RBI) provided a loan restructuring window for corporates following bankers' and industry's demand. As per RBI, restructuring will be allowed as per the prudential framework issued on June 7, 2019. "Based on its assessment, if the credit rating agency (CRA )is of the view that the restructuring by the lenders/ investors is solely due to COVID-19 related stress or under the... RBI framework, CRAs may not consider the same as a default event and/or recognize default," Sebi said in a circular. It further said appropriate disclosures in this regard will be made in ...

What could the Fed’s new policy mean for investors?

31Aug

By WBTBNo Comments

Investing

What could the Fed’s new policy mean for investors?

Last week brought some major headlines with a new inflation target policy from the Federal Reserve, news of a leadership change in Japan, a decline in US consumer sentiment, and spikes in COVID-19 cases. What are the implications of these events for investors? 1. Powell’s Jackson Hole speech Fed Chair Jay Powell announced a new inflation target policy that allows for inflation to rise “moderately” over its 2% target for “a period of time.” In other words, the Fed is allowing for an “overshooting” of its inflation target. What’s important to note is that this new policy carries with it an asymmetric employment goal: The Fed will become more accommodative if employment is running lower than real-time estimates of the “maximum level of employment” but will not tighten if that “maximum...

Earnings Estimates Rising for Stanley Black & Decker (SWK): Will It Gain?

31Aug

By WBTBNo Comments

Stock News

Earnings Estimates Rising for Stanley Black & Decker (SWK): Will It Gain?

Stanley Black & Decker (SWK) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company. Analysts' growing optimism on the earnings prospects of this tool company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight. The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited t...

Cred to enable in-app staking through Klever wallet

31Aug

By WBTBNo Comments

Crypto News

Cred to enable in-app staking through Klever wallet

Cryptocurrency wallet platform Klever will allow users to stake Bitcoin (BTC), Ether (ETH), Tron (TRX) and other cryptocurrencies in Cred’s staking programs from within the wallet. Cred is a cryptocurrency staking and lending platform that allows users from across 190 countries to lend their cryptocurrency funds in return for monthly rewards in stablecoins, cryptos and fiat currencies. The new feature will allow Klever users to opt for any of the staking programs listed on Cred in return for monthly rewards. Once the in-app staking goes live, it will allow users to stake Bitcoin, Ether, and Tron without having to hold any minimum threshold. Users will also be able to choose whether they prefer to receive the monthly interests in ERC-20 stablecoins or other cryptocurrencies...

Long-term bond yields rise. Will the Fed conduct “Operation Twist 2”?

31Aug

By WBTBNo Comments

Forex News

Long-term bond yields rise. Will the Fed conduct “Operation Twist 2”?

Following Jerome Powell’s speech at Jackson Hole last week, 30-year bond yields advanced to the highest level for two months on Friday. There are signs that the market expects consumer inflation to accelerate, and these expectations hit the far end of the yield curve hardest due to longer maturity. As the Fed needs to keep borrowing costs under control, including long-term rates, the outflow of investors from long-term bonds started to gradually shape expectations that this demand will be replaced by the Fed purchases on the open market, i.e. increased QE. However, it is not clear how much the yields should rise, that the Central Bank started to worry. Since the start of the pandemic, the Fed has bought nearly $2 tn in government bonds from the open market bringing its Treasury holdings ...

Stocks making the biggest moves in the premarket: Honeywell, Amgen, Salesforce, Apple, GE & more

31Aug

By WBTBNo Comments

Business news

Stocks making the biggest moves in the premarket: Honeywell, Amgen, Salesforce, Apple, GE & more

Take a look at some of the biggest movers in the premarket: Honeywell (HON), Amgen (AMGN), Salesforce.com (CRM) – Honeywell, Amgen and Salesforce become members of the Dow Jones Industrial Average as of today, replacing Pfizer (PFE), Exxon Mobil (XOM) and Raytheon Technologies (RTX). Apple (AAPL) – Apple begins trading on a post-split basis today, following its 4-for-1 stock split. With the reduction in Apple's per-share price, UnitedHealth (UNH) now has the highest stock price among the 30 Dow stocks. Separately, the legal battle between Apple and Fortnite creator Epic Games escalated as Apple terminated Epic's account in its App Store. Tesla (TSLA) – Tesla will also begin trading on a post-split basis today, following a 5-for-1 stock split. AT&T (T) – AT&T is exploring op...