Sunday, November 29

Day: October 8, 2020

Best Hedges for a Devaluing Dollar
Online Trading

Best Hedges for a Devaluing Dollar

Many macro investors are betting on significant inflation in the US Dollar for the foreseeable future so we put together a list of some of the best hedges for a devaluing dollar.At the risk of oversimplifying the prevailing opinions of this group, I think a basic simplification of the prevailing bearish dollar view are the following factors:Inflated Federal Reserve balance sheet Increased money supply Ballooning US government debt-to-GDP ratio Declining trust in the systemPrecious Metals and MinersTwo of the biggest criticisms levied against gold, and other precious metals are that they don’t pay interest and that their status as a store of wealth is emotion-based, with no basis in rationality.Sure, doesn’t pay interest. That’s certainly true.However, one h...
Coinbase hemorrhages employees following controversial culture stance
Crypto News

Coinbase hemorrhages employees following controversial culture stance

After adjustments to company policies, popular U.S.-based crypto exchange Coinbase has seen backlash from employees who disagreed with the changes.Coinbase received national attention for a recent change to its policies, which required employees to avoid political and social distractions, and instead focus on its core mission of building "an open financial system for the world". Multiple commentators, including Jack Dorsey of Twitter, found the new direction to be at odds with the cryptocurrency industry's values."We subsequently decided to make a generous exit package available to any employee who didn’t feel they could be on board with this direction," Coinbase CEO Brian Armstrong said in a blog post on Oct. 8.Armstrong's post stated that 60 of the exchange's staffers intend to d...
Day trading guide: Stock-specific rally likely to continue
Stock News

Day trading guide: Stock-specific rally likely to continue

Amit Trivedi, YES SecuritiesThe last few weeks have been notably different; however, for the better. A second effort not only cleared that hurdle, but consistently shifted Nifty’s range higher. Post 10% up move, periodical pullbacks towards the support zone of 11,700 might be there. However, a little more progress from here could shove the rally into an even higher zone towards 12,000. Mixed internal breadth indicates that stock-specific rally theme is likely to continue.Index StrategiesShort strangle on Nifty (Expiry: 15th October)Sell 12,050 call and 11,650 put at combined premium of Rs 100-105 Stop loss is Rs 159The index has more room on the upside. However, higher levels could attract some profit taking after which it is likely to witness some price consolidation...
S&P 500 top movers: Energy stocks post impressive gains on oil rally
Forex

S&P 500 top movers: Energy stocks post impressive gains on oil rally

S&P 500 remains on track to close second straight day higher. Major energy stocks surge higher on rising crude oil prices. Amgen Inc (AMGN: NASDAQ) shares are down more than 6%.After gaining 1.75% on Wednesday, the S&P 500 Index (SPX) opened in the positive territory on Thursday and advanced to its highest level in nearly five weeks at 3,444. As of writing, the SPX was up 0.7% on the day at 3,442.S&P 500 top moversWith crude oil prices rising for the fourth straight day on Thursday, major energy stocks are registering strong gains. At the moment, Occidental Petroleum Corp (OXY: NYSE), DTE Energy Co (DTE: NYSE), Halliburton Co (HAL: NYSE) and Marathon Oil Corp (MRO: NYSE) share are up between 6.7% and 4.6% on the day. Meanwhile, the barrel of West Texas Int...
Stocks rise, but are off their highs after Pelosi rejects idea of smaller airline aid package
Business news

Stocks rise, but are off their highs after Pelosi rejects idea of smaller airline aid package

Stocks trimmed their initial gains on Thursday after comments from House Speaker Nancy Pelosi dampened sentiment around a potential smaller coronavirus aid package.The Dow Jones Industrial Average traded 89 points higher, or 0.3%, after being up as much as 155 points. The S&P 500 was also off its high, trading higher by 0.7%. The Nasdaq Composite cut gains and was up 0.6%.Pelosi, D-Calif., told reporters there will not be a stand-alone stimulus bill for airlines — something President Donald Trump had pushed for the day before —  without a bigger aid package.United Airlines was down 0.3% and American Airlines slid 0.5%.Earlier in the day, stocks were up after President Donald Trump said that the administration and Democrats were "starting to have some very productive talks." H...
Ex-Goldman Sachs exec believes that his decentralized clearing house can rescue DeFi from oblivion
Crypto News

Ex-Goldman Sachs exec believes that his decentralized clearing house can rescue DeFi from oblivion

Revolution Populi has released layer one of a blockchain solution that the founding team believes could be used as a clearinghouse for crypto and traditional financial transactions.The protocol iterates over the delegated proof-of-stake consensus used by EOS, which employs 21 block producers. Revolution Populi calls its consensus rdPOS, where ‘r’ stands for random. The number of block producers is increased to 63, and 21 nodes are randomly picked as block producers for each round. The team believes that this setup allows for speed while preserving sufficient decentralization.Rob Rosenthal, the company's CEO who spent 19 years at Goldman Sachs prior to starting this latest venture. Hebelieves that the DeFi scene is a replay of the 2008 financial crisis:"I've seen this movie before, ...
United States Initial Jobless Claims 4-week average declined to 857K in October 2 from previous 867.25K
Forex

United States Initial Jobless Claims 4-week average declined to 857K in October 2 from previous 867.25K

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if ...
F&O: Nifty50 knocking the doors of lifetime high zone; VIX spike a worry
Stock News

F&O: Nifty50 knocking the doors of lifetime high zone; VIX spike a worry

By Chandan TapariaNifty opened positive on Thursday, led by buying interest in technology stocks, and headed towards the 11,900 level. However, the index witnessed a decline of around 100 points from higher levels in the last hour of trade, but still managed to extend the winning streak into the sixth consecutive session.The index continued the formation of higher lows for the ninth session and the entire market base shifted higher to hit the psychologically important 12,000 level and knock on the doors of lifetime high zone.The index closed the session with a decent gain of around 100 points, but formed a Doji candle on the daily scale, as it closed near the opening level. It also tested the 11,900 level during the day and saw the highest daily close in 143 sessions since February 2...
Keeping it clean: U.S. ethanol producers invest in sanitizer for long haul
Commodities

Keeping it clean: U.S. ethanol producers invest in sanitizer for long haul

By Stephanie KellyNEW YORK, Oct 8 (Reuters) - Red River Biorefinery in Grand Forks, North Dakota, came online in April, arguably the worst time for an ethanol facility to begin operating as the coronavirus pandemic sank fuel demand.Instead of shutting like many ethanol facilities, the company switched focus from producing fuel ethanol to making high-grade alcohol for hand sanitizer, where demand surged during the pandemic as Americans scrambled to protect themselves against the coronavirus.Red River and several other companies now view the hand sanitizer market as more than a temporary salve for weak fuel demand, making permanent investments in production of high-grade alcohol that meets standards for producing sanitizer.In recent months Pacific Ethanol PEIX.O, Green Plains GPRE....
Here are the highlights from the vice presidential debate between Pence and Harris
Business news

Here are the highlights from the vice presidential debate between Pence and Harris

The one and only debate between Vice President Mike Pence and Sen. Kamala Harris was quieter, clearer and more disciplined than the resentful, chaotic presidential debate a week earlier.But despite the calmer tone -- and the two sheets of plexiglass separating the contenders -- sparks flew from both sides of the stage with no less frequency throughout the evening.The contest, held in Utah before a small, socially distanced audience, began with a focus on the coronavirus pandemic but quickly panned out to encompass a broad range of policy issues, including climate change, trade, jobs, and America's posture toward China.While Pence, Harris and moderator Susan Page were the only ones on stage, President Donald Trump and Democratic nominee Joe Biden were the biggest targets of the deba...