Day: September 2, 2020

Stocks plunge, with the Dow dropping more than 800 points as tech shares snap a 10-day win streak
Business news

Stocks plunge, with the Dow dropping more than 800 points as tech shares snap a 10-day win streak

Stocks fell sharply on Thursday, retreating from all-time highs as tech — the market leader since the rebound began in late March — suffered its biggest drop in months.  The Dow Jones Industrial Average dropped 807.77 points, or 2.8%, to 28,292.73 for its biggest one-day decline since June 11. The S&P 500 slid 3.5% to 3,455.06 and the Nasdaq Composite fell by 5% to close at 11,458.10. "Someone hit the 'sell tech, buy dreck' button and this is creating a bid beneath beleaguered groups, while [tech] gets pummeled," said Adam Crisafulli of Vital Knowledge. "For tech specifically, the stocks are seeing large percent declines, but this comes after a massive recent rally. Tech has been untethered from fundamentals for a while and momentum can work in both directions...
4 Tech Stocks Worth Checking Out
Stock, Trading Tips

4 Tech Stocks Worth Checking Out

Regardless of your trading approach, these stocks might be worth checking out for several reasons. Shares of tech companies are doing quite well and have been showing positive tendencies amid the coronavirus pandemic. Their earnings are holding up much better than other industries. With a general positive trend, these stocks might be suitable both for long-term investment as well as day trading. Let’s have a closer look at each one of them. Apple Apple could be a good starting point for traders that want to learn about news trading. Apple makes popular and highly coveted products and launches new releases relatively frequently. News traders may just wait for the next announcement and see how it affects the market. The stock gained around 10% in the past month and is curren...
Biden is still ahead of Trump in the polls, but the gap is narrowing
Business news

Biden is still ahead of Trump in the polls, but the gap is narrowing

Democratic U.S. presidential nominee and former Vice President Joe Biden discusses his plan to safely reopen schools amid the coronavirus disease (COVID-19) pandemic during a speech in Wilmington, Delaware, September 2, 2020. Joe Biden is still beating President Donald Trump in most general election polls – but averages of recent surveys show signs that the Democratic nominee's lead is narrowing slightly following the parties' national conventions.A shift in the wake of the nominating conventions is hardly unprecedented, and most national polls indicate no dramatic bump for Trump since the start of the Republican National Convention. But some recent surveys still indicate an uptick in approval for the incumbent, and some swing-state polls show a larger change in Trump's favor. As of...
August Index Scorecard: Natural Gas Rebounds to Earn Top Spot as Market Continues Upward Trend
Commodities

August Index Scorecard: Natural Gas Rebounds to Earn Top Spot as Market Continues Upward Trend

Overall, August saw generally positive performance across most markets and indexes, maintaining the upward trend started in April. The Nasdaq Commodity Natural Gas ER (NQCINGER) Index rebounded to become the month’s top performer with a gain of 37.4%. This marks only the second month of positive returns for the index in 2020, a year in which it’s been the worst-performing index for four of the past eight months. Also showing solid growth was the Nasdaq Clean Edge Green Energy (CELS) Index, coming in as the month’s second-best performer with a gain of 23.9%. The Nasdaq Commodity Gold ER (NQCIGCER) Index came in as the month's worst performer with a loss of 0.4%. NQCIGCER was one of only two indexes to see declines for the month, the other being the PHLX Gold/Silver Sector (XAU) Index, wh...
Max Keiser thinks Warren Buffett will move to Bitcoin soon
Crypto News

Max Keiser thinks Warren Buffett will move to Bitcoin soon

According to Max Keiser, host of popular RT show the Keiser Report, it is only a matter of time before Warren Buffett’s Berkshire Hathaway will invest in Bitcoin. Not long ago, Buffett sold most of his positions in major banks and bought shares in Barrick Gold — a large gold mining company. For Keiser, this represents a U turn in Buffett’s investing strategy: “This will be the beginning of a huge transition out of financials, which he dumped recently into gold. And then therefore, he, or whoever takes his place, will soon be moving into Bitcoin.” After years of bashing both gold and Bitcoin, Keiser says that Buffett realized these are now “the go-to assets for preservation, for protection” against the depreciation of the US dollar. According to Keiser, people shouldn’t spend time tr...
ESG in fixed income: From niche to mainstream
Investing

ESG in fixed income: From niche to mainstream

The Invesco 2020 Global Fixed Income Study provides hard evidence that a sea change has taken place over the last 18 months with respect to environmental, social, and governance (ESG) approaches in fixed income. The survey polled 159 fixed income professionals worldwide, accounting for around US$20 trillion of assets.1 The study shows significant and universal increases from 2019 to 2020 in terms of incorporation of ESG in fixed income (Exhibit 1). Exhibit 1: Incorporating ESG in fixed income (% of respondents who incorporate ESG in their fixed income portfolio) Source: Invesco Global Fixed Income Study, May 2020. Sample size: 2018 = 79, 2019 = 107, 2020 = 147. EMEA = Europe, Middle East, and Africa What’s behind the increase? One driving force has been, first and foremost, a sense of...
Infibeam Q1 results: Net profit slips 59% to Rs 12 cr
Stock News

Infibeam Q1 results: Net profit slips 59% to Rs 12 cr

NEW DELHI: Infibeam Avenues on Wednesday reported a 58.6 per cent decline in consolidated net profit at Rs 12 crore for June 2020 quarter. The company had posted a net profit of Rs 29 crore in the year-ago period, Infibeam Avenues said in a regulatory filing. The company offers digital payment solutions and enterprise software platforms to businesses and governments across industry verticals. Its revenue declined 44.6 per cent to Rs 103 crore in the quarter under review as compared with Rs 186 crore in corresponding period of 2019-20, it added. On sequential basis, net profit was lower by 39 per cent from Rs 19 crore in March 2020 quarter (excluding exceptional gain), while revenue was down 24 per cent from Rs 136 crore. The company said if not for COVID-19, its revenue would have gr...
Dish TV Q1 results: Posts net profit of Rs 75 crore
Stock News

Dish TV Q1 results: Posts net profit of Rs 75 crore

NEW DELHI: Direct-to-home company Dish TV India Ltd on Wednesday reported a consolidated net profit of Rs 74.54 crore for the quarter ended June. It had posted a net loss of Rs 35.44 crore in the April-June period a year ago, Dish TV said in a BSE filing. Revenue from operations slipped 9.79 per cent to Rs 835.58 crore during the quarter under review from Rs 926.30 crore earlier. "Unlike the initial phase of the lockdown, revenues during the quarter were impacted due to a higher overall churn. In addition, the Y-o-Y decline in revenues was also due to a high base effect considering the plenty of cricket and general elections related coverage on television during the first quarter of last year," Dish TV said in a post-earnings statement. Total expenses stood at Rs 747.87 crore as compa...
Bargain Bin Stocks: DEI Now 10.5% Cheaper Than Director Anderson’s Buy
Stock News

Bargain Bin Stocks: DEI Now 10.5% Cheaper Than Director Anderson’s Buy

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on June 2, Douglas Emmett Inc's Director, Christopher H. Anderson, invested $1,297,999.08 into 42,800 shares of DEI, for a cost per share of $30.33. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Wednesday, bargain hunters could buy shares of Douglas Emmett Inc (Symbol: DEI) and achieve a cost basis 10.5% cheaper than Anderson, with shares changing hands as low as $27.13 per share. It should be noted that Anderson has collected $0.2...
Should Market Bubbles Be a Concern for Monetary Policy?
Forex News

Should Market Bubbles Be a Concern for Monetary Policy?

Last night, Fed official, Lael Brainard, detailed the new Fed framework of flexible average inflation targeting. Brainard acknowledged that lax monetary policy may induce excessive risk taking and inflate bubbles but, it’s not the task of monetary policy to curb or deflate them. According to Brainard this is the task of macroprudential policy. It works primarily by imposing restrictions, rules, regulations creating counterbalances etc. An example is increased capital adequacy ratios for systemically important banks. Monetary policy on the contrary, works by creating conditions, environment or incentives. Monetary policy is more about adding/removing incentives, while Macroprudential is more about creating/lifting restrictions. A shift towards macroprudential policy in controlling marke...