Tuesday, January 19

Stock News

S&P 500 futures grind back into the green from 3740 lows
Stock

S&P 500 futures grind back into the green from 3740 lows

US equity markets are closed on Monday given Martin Luthar King Junior Day holidays. Last Friday’s 3741 low came in as useful support here, as did the index futures 21DMA at 3740. Earnings, Yellen’s testimony, Biden’s inauguration, the pandemic and European PMIs will be the most closely watched themes.US value markets are shut on Monday given Martin Luthar King Junior Day occasions. Value file fates are as yet exchanging notwithstanding; S&P 500 prospects have step by step moved once again into a positive area on the day and now exchange around the 3770 increase about 0.2% on the day, having hit lows during the 3740s halfway through Monday's Asia Pacific meeting.Last Friday's 3741 low came in as helpful help here, as did the file fates 21-day moving normal (DMA), wh...
The wealthy are investing like a market bubble is here, or at least near
Business news

The wealthy are investing like a market bubble is here, or at least near

If an investor with $1 million or more in the market thinks that a stock bubble is already here — or soon enough one will be coming — what is the correct response? According to a new survey from E-Trade Financial, the answer is to keep investing in stocks, with more emphasis on undervalued sectors of the market.Only 9% of millionaires surveyed by E-Trade think the market is nowhere near a bubble. The rest of the affluent investor set:16% think we're "fully in a bubble" 46% in "somewhat of a bubble" 29% think the market is approaching oneYet these affluent investors are not running from the market, or parking money in cash. In fact, amid rising bubble fears these same investors say their risk tolerance has increased, significantly, in the first quarter of 2021, and the m...
BSE launches StAR MF Plus for distributors
Stock News

BSE launches StAR MF Plus for distributors

Stock trade BSE on Monday reported the dispatch of StAR MF Plus, an exceptional stage with key highlights for wholesalers and their customers.StAR MF Plus will offer total front office, request the board, examination, back office and business uphold arrangements, the trade said in an assertion.The new stage would be a finished answer for merchants, empowers customer onboarding just as e-KYC and gives client portfolio the executives.Every one of these highlights are available on web and application (both Android and iOS), it added."Through this new assistance, we anticipate associating with an ever increasing number of wholesalers, AMCs (resources the executives organizations), their customers, and fortify our situation as the favored electronic MF venture foundation of decision a...
Vail Resorts, a mountain resort company, reported a 16.6% year-over-year decline in ski visitation across North America for…
Stock News

Vail Resorts, a mountain resort company, reported a 16.6% year-over-year decline in ski visitation across North America for…

Vail Resorts, a mountain resort organization, revealed a 16.6% year-over-year decrease in ski appearance across North America for the season-to-date period finishing Jan. 3, 2021. The frail ski season metric reflects travel limitations and a decrease sought after in the midst of the COVID-19 pandemic. Shares of Vail Resorts fell 3.7% on Friday.Vail Resorts (MTN) said that its season-to-date ski visits declined essentially because of lower lift ticket buys. The organization's season-to-date lift ticket incomes declined by 20.9% year-over-year.Vail additionally saw a 52.6% drop in ski school income and a 66.2% decrease in feasting income in the season-to-date period. Vail's retail/rental deals for North American hotel and ski region areas likewise declined 39.2% contrasted with the year-...
Europe Markets: Carrefour shares slump as Couche-Tard’s short pursuit ends while European stocks and U.S. futures drift
Stock News

Europe Markets: Carrefour shares slump as Couche-Tard’s short pursuit ends while European stocks and U.S. futures drift

Shares of Carrefour slumped 7% on Monday, after Canada’s Alimentation Couche-Tard ended its short-lived takeover bid to buy the French supermarket giant.Carrefour’s CA, -6.08% shares were trading at the same level as before Couche-Tard announced its interest. Couche-Tard ATD.B, +4.66% ended its pursuit after France’s finance minister, Bruno Le Maire, stated his objections on “food sovereignty” grounds.The two companies did say they will look to share best practices on fuel, pool purchasing volumes, and partner on private labels.Suez’s SEV, +3.01% shares rose 3% to €17.41, after the waste and water management company recommending an €18 per share, or €11.3 billion, bid from private-equity investors Ardian and Global Infrastructure Partners. Rival Veolia Environnement VIE, -3.24% has...
FedEx will levy a new surcharge on shipments for residential delivery by its large customers
Stock News

FedEx will levy a new surcharge on shipments for residential delivery by its large customers

FedEx will levy a new surcharge on shipments for residential delivery by its large customers. Shares of the delivery giant closed 1.5% lower last Friday.FedEx (FDX) said that starting Feb. 15, it will be adding a $0.30 fee per package for shippers whose weekly average volume crosses over 30,000 packages between Jan. 4 and Jan. 31. The move could help FedEx offset rising operating costs amid a surge in volumes due to the coronavirus pandemic.FedEx said that the fees will be levied on FedEx Ground and FedEx Express domestic residential packages. It will not apply on FedEx One Rate and FedEx SmartPost packages.On Dec. 30, 2020, Argus Research analyst John Eade raised the stock’s price target to $305 (20.8% upside potential) from $270 and reiterated a Buy rating. In a note to investors, ...
UPL rallies 7% on heavy volumes; stock surges 34% from December low
Stock

UPL rallies 7% on heavy volumes; stock surges 34% from December low

Shares of UPL hit an over 11-month high of Rs 558, up 7 per cent, on the back of heavy volumes in an otherwise subdued market on the National Stock Exchange (NSE). With today's gain, it has bounced back 34 per cent from its recent low of Rs 416, hit on December 21, 2020, in the intra-day trade. The stock of the agrochemicals company was trading at its highest level since February 2020. Moreover, it was quoting close to its 52-week high level of Rs 601, touched on February 14 last year. Trading volumes on the counter more-than-doubled with a combined 27 million equity shares, representing 3.5 per cent of total equity, of UPL changing hands on the NSE and BSE till 02:42 pm.UPL, on December 29, had announced that the company had successfully redeemed $410 million worth of dollar-denomin...
Asia shares step back, await China economic update
Stock News

Asia shares step back, await China economic update

Asian share markets retreated from highs on Monday as disappointing news on U.S. consumer spending tempered risk sentiment ahead of a closely-watched reading on the health of the Chinese economy.Also evident were doubts about how much of U.S. President-elect Joe Biden’s stimulus package will make it through Congress given Republican opposition, and the risk of more mob violence at his inauguration on Wednesday.MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.3% having hit a string of record peaks in recent weeks. Japan’s Nikkei slipped 1% and away from a 30-year high.E-Mini futures for the S&P 500 dipped 0.3%, though Wall Street will be closed on Monday for a holiday.Chinese GDP data are expected to show growth picked up to an annual 6.1% last quarter, from...
SGX Nifty down 60 points; here’s what changed for market while you were sleeping
Stock News

SGX Nifty down 60 points; here’s what changed for market while you were sleeping

Weak economic data in the US may set the stage for a negative start for domestic stocks on Monday. The sentiment may, however, improve if China's quarterly GDP numbers scheduled for the day come better-than-expectations. Domestic investors would eye IRFC's IPO opening today and a slew of quarterly earnings on the midcap front. Here’s breaking down the pre-market actions: STATE OF THE MARKETSSGX Nifty signals negative start Nifty futures on the Singapore Exchange traded 64 points, or 0.44 per cent, lower at 14,395, in signs that Dalal Street was headed for a negative start on Monday.Tech View: Nifty forms Dragonfly Doji Nifty50 tanked over 1 per cent on Friday and formed a bearish candle on the daily chart and an indecisive Gravestone Doji on the weekly scale. The fact that Nifty coul...
PNC Financial Services Group reported better-than-expected 4Q results on Friday, driven by higher deposits and loans.
Stock News

PNC Financial Services Group reported better-than-expected 4Q results on Friday, driven by higher deposits and loans.

PNC Financial Services Group reported better-than-expected 4Q results on Friday, driven by higher deposits and loans. However, lower revenues and a decline in net interest margin led to a 3.5% drop in its stock.PNC Financial’s (PNC) 4Q earnings of $3.26 per share grew 34.2% year-over-year and came in ahead of analysts’ estimates of $2.54. Its 4Q revenue of $4.21 billion declined 2.6% from the year-ago period but exceeded the Street’s $4.13 billion call.Average deposits grew 25% year-over-year, and the net interest margin stood at 2.32% as of Dec. 31, 2020, versus 2.78% as of Dec. 31, 2019. The decrease reflects lower loan yields. Provision recapture was $254 million in the fourth quarter of 2020, compared to a provision for credit losses of $221 million in the year-ago quarter.Meanwh...