Day: September 8, 2020

AstraZeneca shares drop after company announces ‘routine’ safety pause in coronavirus vaccine trial
Business news

AstraZeneca shares drop after company announces ‘routine’ safety pause in coronavirus vaccine trial

A small bottle labeled with a "Vaccine" sticker is held near a medical syringe. AstraZeneca shares fell more than 6% in after-hours trading Tuesday after the company said its late-stage trial for a potential coronavirus vaccine had been put on hold due to safety concerns."This is a routine action which has to happen whenever there is a potentially unexplained illness in one of the trials, while it is investigated, ensuring we maintain the integrity of the trials, In large trials illnesses will happen by chance but must be independently reviewed to check this carefully," the company said in a statement to CNBC. It said it was trying to expedite the review to "minimize any potential impact on the trial timeline." An individual familiar with the development said researchers were told ...
Index Options vs Stock Options Explained For Beginners
Online Trading

Index Options vs Stock Options Explained For Beginners

Many novice options traders are initially confused by the difference between the options on cash indices like SPX and the options traded on stocks and ETFs like AAPL or SPY. After all, you can’t trade indices like SPX on the stock market. It’s just an index!  So let’s settle a few differences. Firstly, why are there even options on a cash index like SPX when you can simply trade options on the S&P 500 ETF, SPY? An index like SPX or NDX are simply math calculations. They take each component’s weightings in the index and automatically calculate the index price based on the price changes in the underlying components. You can’t trade shares of these, but you can trade options on them. And the way the options trade is slightly different from the traditional stock options you’re p...
Morgan Stanley exec says this demographic prefers Bitcoin over gold
Crypto News

Morgan Stanley exec says this demographic prefers Bitcoin over gold

According to a Morgan Stanley executive, the young and adventurous usually go for crypto, while older investors stick to more traditional assets. In a Sept. 8 interview with CNN anchor Julia Chatterley, Morgan Stanley’s head of emerging markets and chief global strategist Ruchir Sharma stated that the generational divide when it comes to investments has many millennials choosing Bitcoin (BTC) over gold. “I think some of the older [investors] are still buying gold, and millennials are buying more of the Bitcoins and the cryptocurrencies,” said Sharma. Part of the younger generation’s drive to look towards crypto may be related to Sharma’s prediction that inflation could come as early as 2021 in the United States. He cited a number of monetary and fiscal measures officials have taken to...
Three reasons why this isn’t another ‘tech bubble’
Investing

Three reasons why this isn’t another ‘tech bubble’

It feels like investors have been on a wild ride over the past week as tech stocks plunged, dragging down major global indexes with them. A few factors contributed to the fall: The first was Senator Mitch McConnell’s comments that a US fiscal stimulus deal may not come to fruition in the next few weeks. Then, concerns rose about the potential for a contested election in the US presidential race if no clear winner is declared on election night. Add to that concerns about frothy valuations in the tech space — the result was a very substantial sell-off for tech stocks with reverberations in global markets. Some are suggesting this is the start of another dramatic sell-off, similar to the spring of 2000 when the “tech bubble” burst. I highly doubt that. Yes, this sell-off was significant, and...
Future Retail witnesses almost 100% delivery Tuesday
Stock News

Future Retail witnesses almost 100% delivery Tuesday

MUMBAI: Future Retail has witnessed almost 100% delivery based buying on Tuesday . Out of 39,24,711 shares traded , delivery of 39,24,448 shares took place, implying delivery volume of 99.99% . This as the share closed down almost 5% at Rs 101.6. In fact over 95% delivery volumes have happened since September 4 — 97.84% on Friday and 99.96% on Monday . The share has fallen from Rs 118.4 apiece on Thursday to Rs 101.6 on Tuesday , a drop of 14%. The data indicates purchase at lower levels . After Reliance purchased the Future Group’s retail assets among others , the share jumped to Rs 162.35 on Aug 31 From Rs 135 on August 28 from where it has corrected . Credit: Stocks-Markets-Economic Times
British Pound Falls On Brexit Headlines
Forex News

British Pound Falls On Brexit Headlines

PM Announces Alterations To Withdrawal Agreement The British Pound has come under fresh selling pressure this week in response to the latest Brexit headlines. The UK PM is reportedly considering launching new legislation which would essentially override a crucial part of the UK’s withdrawal agreement with the EU. The planned alteration could affect a shift in the way the new Northern Ireland customs arrangements would operate. Fears over the lack of progress in talks have drawn increasing attention recently with many key issues still remaining unresolved, prompting concerns that the talks will ultimately fail. The UK PM, Boris Johnson, said this week that if the two sides have not agreed a trade deal by 15th October, they should “move on” (E.G abandon talks) though said this would still ...
Airline Stock Roundup: UAL’s Expansion Update, GOL’s August Traffic Report & More
Stock News

Airline Stock Roundup: UAL’s Expansion Update, GOL’s August Traffic Report & More

In the past week, United Airlines UAL announced that due to the uptick in air-travel demand, it plans to increase its October flying schedule to 40% of its full schedule from 34% in September. Taking advantage of this improvement in travel demand (particularly for leisure), Spirit Airlines SAVE too issued an expansion update. Meanwhile, Hawaiian Airlines, the wholly-owned subsidiary of Hawaiian Holdings HA, became the latest carrier to eliminate change fees. Notably, carriers like United Airlines, Delta Air Lines DAL and American Airlines AAL had earlier taken the same decision as mentioned in the previous week’s write-up. Moreover, Gol Linhas GOL management stated that demand in the domestic market for August increased 19.8% from the July levels on the recovery in demand in the Latin Am...
A new enterprise blockchain features private real-life identities, but not without controversy
Crypto News

A new enterprise blockchain features private real-life identities, but not without controversy

A new enterprise-focused blockchain is trying to carve a spot in this competitive market by focusing on an integrated digital identity system. Called Concordium, the blockchain is among the first to use identity proofs as an integral part of its protocol. Cointelegraph spoke with Concordium’s chief marketing officer, Beni Issembart, to learn more about this system. Issembart said that “the question of identity is what we thought was missing in the whole discussion when it comes to blockchain enterprise.” At first glance, the blockchain is set up in a similar way to any other, where the hashes representing wallet accounts are randomly generated. But these accounts can then be tied to “identity objects,” which are zero-knowledge proofs stating that the particular account has been verifi...
GBP Weakness Grows While EUR Remains Flat Ahead of ECB
Forex News

GBP Weakness Grows While EUR Remains Flat Ahead of ECB

USD The theme of the US elections is coming to the fore and uncertainty surrounding the outcome, political and economic course of the new leader is putting pressure on the markets. This effect is amplified by Trump, who is again betting on anti-Chinese rhetoric in his campaign. The president this week voiced the idea of ​​decoupling the US economy from China, threatening to block access to federal contracts for companies that outsource jobs to China. We remember that revival of manufacturing sector in the United States and bringing back manufacturing jobs were the subject of Trump’s 2016 campaign. Considering that Trump, according to some polls, lags behind Biden, the “hot statements” that won the electorate last time, could come in handy. This is somewhat expected rhetoric, however it...
Nikola shares pop as much as 53% after General Motors takes 11% stake in electric truck maker
Business news

Nikola shares pop as much as 53% after General Motors takes 11% stake in electric truck maker

Shares of Nikola surged Tuesday after General Motors announced it's taking an 11% stake in the electric truck maker and will produce its marquee hydrogen fuel cell electric pickup truck the Badger by the end of 2022. Shortly before the opening bell, Nikola shares were up 30% and GM's were 6% higher. Nikola shares had popped by as much as 53% while GM's jumped as much as 9.1% in the premarket trading. GM is getting a $2 billion stake in Nikola and the right to nominate one board member in exchange for in-kind services. Phoenix-based Nikola specializes in building zero-emission semi trucks using battery or hydrogen fuel cell technology, but it recently introduced its Badger pickup truck for consumers. This will also make GM the exclusive supplier of Nikola's fuel cells globally, except E...