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Saturday 16:20 GMT

Cannabis stocks were mixed Friday, with the big Canadian players mostly higher on Day 3 of fully legalized recreational weed as investors digested the latest crop of deals and capital raises.

In case you’ve missed it, check out MarketWatch’s comprehensive coverage of Canada’s cannabis legalization, including profiles of the six big players

1 Article

Source: Reuters

U.S. midterms a mere blip on equity options traders' radar

Friday 20:02 GMT

Less than a month before the U.S. congressional elections, data suggests equity options traders do not view the election as a big catalyst for setting the direction of U.S. stock market in the immediate aftermath of the vote results.

Political control of the U.S. Congress will be up for grabs on November 6 and should Democrats take the U.S. House of Representatives away from Republicans it could hinder President Donald Trump’s political agenda.

1 Article

Source: Common Domain

These mind hacks can help you handle a volatile stock market and invest smarter

Friday 23:42 GMT

Daniel Crosby is founder of Nocturne Capital and author of “The Behavioral Investor” (Harriman House, 2018), from which this article is excerpted.

It seems incredible that something as simple as labeling money can induce us to save and invest differently but as George Loewenstein says, “While it seems like an inconsequential process, earmarking can have a dramatic effect on retirement savings. Cheema and Soman (2009) found that earmarking savings in an envelope labeled with a picture of a couple’s children nearly doubled the savings rate of very low income parents.”

2 Articles

Source: Global News

Cannabis IQ: Here’s how pot legalization will impact the economy

Saturday 09:00 GMT

How legalization will affect the black market. Federal and provincial sales taxes will be applied on top of the excise tax, with the final price tag varying across the country because provinces have different sales taxes.

As cannabis is legalized across the country on Oct. 17, Global News is answering key questions on what it means for you: What will the rollout look like in each province? What’s the impact on the economy?

1 Article

Source: Common Domain

‘You are a disaster’: Cleveland-Cliffs CEO berates analyst on earnings call

Saturday 18:11 GMT

Shares of Cleveland-Cliffs Inc. fell more than 6% Friday after Chief Executive Lourenco Goncalves slammed analysts during the mining company’s earnings call earlier in the day, accusing them of failing to understand numbers and targeting a Goldman Sachs analyst for most of his angry remarks.

Cleveland-Cliffs shares have gained 48% this year, compared with gains of 3.4% and 2.7% for the S&P 500 index SPX, +0.11% and the Dow Jones Industrial Average DJIA, +0.36% in the same period.

1 Article

Source: Common Domain

Don’t sweat a stock-market selloff with midterms around the corner, says strategist

Friday 22:47 GMT

The senior market strategist said that midterm years are always among the most turbulent and gains tend to be concentrated in the final months as illustrated in the chart below.

See: Investors banking on a stock market rally after midterms should take a look at this chart. Nonetheless, given that earnings continue to come in better than expected and there are no immediate signs of a recession, the market is expected to regain its composure once it gets past the historically volatile October, according to Detrick.

1 Article

Source: Common Domain

Italy’s stock market slumps as budget drama looms, weighs on broader European bourses

Saturday 09:55 GMT

Italian stocks were trading sharply lower on Friday as the drama of the country’s budget plan erupted anew and pushed up its sovereign bond yields amid worries that a market-disrupting conflagration between the European Union and Rome won’t be averted.

Italy’s FTSE MIB Italy index I945, -1.03% was down 1.6% at 18,780, poised for a weekly skid of 2.5% and its fourth straight weekly slide, representing the longest such decline since a five-week retreat ended June 8, according to FactSet data.

2 Articles

Source: Reuters

With market on edge, investors look to tech trio

Saturday 10:49 GMT

The pressure is on for Amazon, Alphabet and Microsoft as they prepare to report quarterly results at a time when confidence in those market leaders looks increasingly fragile and in danger of derailing Wall Street’s rally.

“The equity market is at a critical point here,” said Kurt Brunner, portfolio manager, Swarthmore Group in Philadelphia, Pennsylvania. “In order for it not to get a lot worse, I think you need to see Amazon and Alphabet put up some good numbers.”

1 Article

Source: Common Domain

Dow up nearly 200 points as stock market aims to follow China rebound

Saturday 13:35 GMT

U.S. stocks kicked off Friday trading solidly higher as a rebound in China’s main equity benchmarks assuaged dread about waning global growth, even as Beijing reported the worst rate of economic expansion since 2009.

The Dow Jones Industrial Average DJIA, +0.77% rose 190 points, or 0.7%, to 25,569, while the S&P 500 index SPX, +0.92% advanced 24 points, or 0.9%, to 2,793. Friday’s action also comes on the 31st anniversary of the 1987 stock-market crash.

1 Article

Source: Common Domain

Amazon and other battered tech stocks to buy after an ugly October for the Nasdaq

Saturday 10:50 GMT

TGIF…. Dow YMZ8, +0.44% , S&P 500 ESZ8, +0.39% and Nasdaq NQZ8, +0.63% futures are hanging in there with gains on the heels of Thursday’s volatile action, which saw the Dow DJIA, -1.27% shed 300 points, and losses for the S&P and Nasdaq.

Investors in the Nasdaq can attest to that fact after the index received a drubbing in the first three weeks of the month that has thusly slashed nearly 7% from the tech-heavy benchmark.

1 Article

Source: Fox News

Stock futures may rebound ahead of earnings reports

Saturday 08:05 GMT

In Europe, London’s FTSE opened up 0.2 percent, Germany’s DAX was lower by 0.1 percent and France CAC was higher by 0.1 percent.

U.S. stocks fell Thursday after U.S. Treasury Secretary Steven Mnuchin tweeted that he will not attend the Saudi summit. On the economic calendar, traders will get the latest numbers on existing home sales.

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