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2 Articles
Source: Common Domain

U.S. Stocks Surge, Erasing Some Recent Losses

Today 20:02 GMT

U.S. stocks soared Tuesday, sending the Dow Jones Industrial Average up more than 400 points, as gains in everything from technology firms to banks helped major indexes claw back recent losses.

Tuesday’s moves marked the latest bout of volatility for stocks, which have swung throughout October as investors have grappled with fresh questions about the nine-year bull market’s durability. With bond yields at multiyear highs, many say stocks have begun to lose some of the luster they held for years in an environment of ultralow interest rates.

2 Articles
Source: Common Domain

Nikkei’s gain, led by Softbank’s rebound, lifts most Asian markets

Today 20:02 GMT

Asian stock markets gained Tuesday, partly reversing a broad selloff to start the week and largely shaking off modest losses on Wall Street.

Japan’s Nikkei NIK, +1.25%   was up 1.2%, led by SoftBank Group and energy and steel stocks, amid continuing concerns about U.S. trade issues. Asian stock markets gained Tuesday, partly reversing a broad selloff to start the week and largely shaking off modest losses on Wall Street.

2 Articles
Source: Common Domain

This stock-market pullback probably has further to go: analysts

Today 19:07 GMT

A break above this level would point to increasing credit market stress and likely confirm a failed breakout in the S&P 500 ahead of a bigger equity market pullback,” the analyst said.

Tony Dwyer, chief market strategist at Canaccord Genuity, likewise predicted that it could take some time for the pullback to resolve itself. “We find it unlikely there will be a V bottom given the sharpness and breadth of the correction,” he wrote in a Monday note.

1 Article
Source: Common Domain

Uber Proposals Value Company at $120 Billion in a Possible IPO

Today 20:02 GMT

Uber Technologies Inc. recently received proposals from Wall Street banks valuing the ride-hailing company at as much as $120 billion in an initial public offering that could take place early next year, according to people familiar with the matter.

Goldman Sachs Group Inc. and Morgan Stanley MS 3.66% last month delivered the valuation proposals to Uber, the people said. These documents, which typically advise on how to position shares to potential investors, are a common step before banks are formally hired to underwrite IPOs.

1 Article
Source: Common Domain

Blame the U.S. for the Weaker Chinese Currency

Today 19:07 GMT

It is tempting to think that China must be actively pushing its currency down in an attempt to offset the effect of the 10% tariffs being imposed on its exports to the U.S. by President Donald Trump.

Worse, if China did as the U.S. wants and decided to intervene to push the yuan up, it would have perverse and unwelcome effects on the U.S. bond market. To understand this, consider how China used to hold its currency down by building up foreign exchange reserves – something that was obviously manipulation.

1 Article
Source: Common Domain

Investing Insights: HSBC Private Banking’s Cheuk Wan Fan

Today 20:02 GMT

“We keep reassuring our clients that a properly diversified portfolio will actually help them defend their portfolio return from this kind of violent market turbulence,” says Cheuk Wan Fan, HSBC Private Banking’s head of investment strategy and advisory for Asia. One reason is “it’s highly costly to time the market,” Fan says.

Both long-short and relative value strategies, of course, rely on more active stock selection, an approach Fan says HSBC favors overall, but one that has been out of favor as investors shifted to less costly passive investing approaches.

1 Article
Source: Common Domain

Nike, Amazon, and Other Retail Stocks That Still Have Room to Run

Today 20:02 GMT

Retail has had a good run for much of 2018 but wasn’t spared by the recent market selloff: The SPDR S&P Retail ETF (XRT) has seen its former double-digit year-to-date gains halved, to 5.3%.

General market pain and sector-specific worries have weighed on the sector lately, but Nomura Instinet still likes some retail stocks. Where we were: Retail outperformed for much of the year, but has lost some of its luster after hitting record highs in August.

1 Article
Source: Common Domain

Hong Kong Luxury Prices Projected to Fall in Short Term

Today 19:07 GMT

Uncertainties about China’s economic growth coupled with an ongoing stock market correction in Hong Kong will continue to hamper city’s luxury residential market, causing prices to fall between 5% to 10% within the next 15 months, according to a Savills report Monday.

During the last three months, prices of luxury townhouses dropped 0.3% annually, while prices of luxury apartments edged up 0.3% to 0.4%, varying from region to region.

1 Article
Source: Common Domain

Would-Be London Home Buyers Opt for Lavish Rentals

Today 19:07 GMT

Would-be buyers in prime central London have opted for lavish rentals amid the uncertainty in the city’s sales market, according to a new report.

The economic and political uncertainty driving a slowdown in the general London sales market has pushed high-net-worth individuals to rent while they wait out the volatility—a trend luxury brokers have noted for several years. Final Brexit negotiations over the next few months will continue to weigh on the city's housing market in the short-term.

1 Article
Source: Common Domain

Why stocks are nowhere near a bear market and ready for a reboot, says trader

Today 20:02 GMT

“This might feel like the start of a bear market, but that is the least likely outcome,” says Carmel, who suggests investors get ready for higher prices in the weeks and months ahead.

Based on that, he doesn’t believe that the stock market will hit a peak (implying a pronounced downturn is imminent) before the end of 2018. Carmel backs up his view by pointing to momentum in the S&P 500, breadth and sentiment washing out, the latter of which has seen investors flooding into ETFs that bet on equity falls.

1 Article
Source: BBC

Huawei watch has no time for Android Wear

Today 20:02 GMT

Huawei has decided not to use the wearable-tech version of Android in its latest smartwatch, opting instead for an in-house operating system.

The new Mate 20 handsets are both powered by Android 9 but have several distinguishing features:. Unlike the firm's recent P20 Pro, however, there is no dedicated monochrome camera as Huawei says it no longer needs one to enhance image detail. Business users are being targeted by the ability to wirelessly link the handsets to Bluetooth-enabled screens for presentations.

1 Article
Source: Common Domain

IBM CEO Ginni Rometty Sharpens Focus on Emerging Tech for Business

Today 20:02 GMT

Speaking to chief information officers and other senior enterprise IT managers gathered here for Gartner’s annual IT industry conference, Ms. Rometty outlined the many ways IBM has shifted within the enterprise technology market in recent years, as businesses across all industries ramp up their use of cloud computing, big data, artificial intelligence, blockchain and other emerging digital tools.

1 Article
Source: Common Domain

U.S. stocks poised to rise after Monday’s tech-driven selloff

Today 20:02 GMT

U.S. stock futures on Tuesday were tracking higher and teasing modest gains for the main benchmarks a day after stocks finished lower, led by a decline in technology and internet-related companies.

Deutsche Bank in a Tuesday research report said it is upbeat on U.S. equity markets, citing strong global growth, adding that U.S. stocks “do not fully reflect the U.S.’s strong economy.” Goldman Sachs Group Inc. GS, +0.63% and Morgan Stanley are among the big bank names reporting later this morning, while streaming-video group Netflix Inc. NFLX, -1.89% will report after the close of trade.

1 Article
Source: Global News

Head of cannabis company talks pot before legalization: ‘All eyes are on Canada’

Today 20:02 GMT

Ahead of the legalization of marijuana, Global News sat down with the president of a licensed cannabis producer to discuss his preparations for legalization, his predictions for the recreational cannabis market and concerns about highly concentrated cannabis products.

Recreational cannabis landscape still hazy, days away from legalization. GN: What is your prediction for the recreational cannabis market in the near- and medium-term?

1 Article
Source: Reuters

Breakingviews - Saudi fail is fresh win for U.S. banks over Europe

Today 20:02 GMT

Having been bested in their own backyard by U.S. peers – bar Deutsche Bank, the top five biggest investment banks by revenue in Europe are all American, according to Coalition data – and shut out by U.S. sanctions of other markets like Iran, the conference organised by Crown Prince Mohammed bin Salman now offers a rare opportunity to steal a march on their transatlantic rivals.

That, in effect, is what European banks have given the JPMorgan boss by dithering over whether to attend the Future Investment Initiative in Saudi Arabia next week.


“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte