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Business Leaders from Finance, Technology, Retail and Hospitality Call For Civility and Patience Ahead of The 2020 Election | News

October 14, 2020
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| finance

WASHINGTON, Oct. 14, 2020 /PRNewswire/ — In partnership with the Leadership Now Project, more than 50 of our nation’s business leaders released a statement: “America Has Held Successful Elections Amid Crises Before. We Can and Must Do So Again,” which underscores the importance of maintaining confidence in an election held during an unprecedented health crisis. Signatories include Greylock Partner and LinkedIn Co-Founder Reid Hoffman, D. E. Shaw & Co. Managing Director Eddie Fishman, The Baupost Group CEO Seth Klarman, Lumi Labs Co-Founder and former Yahoo CEO Marissa Mayer, Harvard Business School Professor Michael Porter, General Assembly CEO Lisa Lewin, KIND Snacks Executive Chairman Daniel Lubetzky and K1 Capital Management CEO Neil Malik, among other leaders.

With an unprecedented number of Americans voting by mail because of the pandemic, officials have consistently stressed that we may not know the outcome

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The CEO of the world’s largest wealth manager says stocks have more upside ahead and most investors should put more money to work

October 13, 2020
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| money



a man wearing glasses and looking at the camera: Shannon Stapleton/Reuters


© Shannon Stapleton/Reuters
Shannon Stapleton/Reuters

  • BlackRock CEO Larry Fink told CNBC on Tuesday stocks have more upside ahead and most investors should put more money to work in the market.
  • “I believe we still have more to go on the upside even in front of probably rising infection rates with COVID-19,” Fink said. 
  • With interest rates lower for longer and the likelihood of a second fiscal stimulus, Fink expects the market to move higher.

BlackRock CEO Larry Fink told CNBC on Tuesday that stocks have more upside ahead and investors should put more money to work in the market. 

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“We have a strong conviction that the average investor still is under-invested and they’re going to have to be putting more and more money to work over the coming months and maybe even years,” Fink said. “I believe we still have more to go on the upside even in

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Wall Street Week Ahead: U.S. Earnings Improvement Expected, but Still a Weak Quarter | Investing News

October 10, 2020
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NEW YORK (Reuters) – While good business news has been in short supply, investors may take slight comfort in coming weeks from U.S. corporate earnings that are likely to be bad, but not as bad as they have been.

Analysts expect third-quarter S&P 500 earnings to have fallen 21% compared with the year-ago quarter, a big improvement from second-quarter’s 30.6% drop that was most likely the low point for earnings this year because of coronavirus-fueled lockdowns, according to IBES data from Refinitiv.

Earnings reporting will get rolling next week with results from some of the big U.S. banks, likely impacted by near record low interest rates and the pandemic-induced recession. JPMorgan & Co.

and Citigroup

both release results on Tuesday.

(Graphic: S&P 500 Q3 earnings look bad, but not as bad as Q2 – https://graphics.reuters.com/USA-STOCKS/azgvoaoyzvd/chart.png)

Overall, S&P 500 quarterly results tend to beat analysts’ cautious expectations, and they could do

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New Study Predicts Gloomy Economic Times Ahead For Americans

October 9, 2020
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Sad evicted tenant moving home boxing belongings

New Study Predicts Gloomy Economic Times Ahead For Americans

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With unemployment sky rocketing as a result of Covid-19, there has been a corresponding rise in evictions and mortgage defaults. A new study from Washington University in St. Louis’ Olin Business School of the loan-to-value ratios in the wake of the 2008 financial crash issues a cautionary warning about the troubles ahead.

The study finds that the higher the outstanding mortgage is relative to the value of the home, the worse the future income growth and job mobility of the individual will be.

The researchers assessed wage data and credit profiles from around 30 million Americans working in over 5,000 companies. The analysis revealed a negative association between the income of the worker and their home loan-to-value (LTV) ratio, with this especially so when the principle owed was higher than the value of the house.

For instance, when homes were

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Central banks sketch out digital currency as China forges ahead

October 9, 2020
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LONDON (Reuters) – A group of seven major central banks including the U.S. Federal Reserve set out on Friday how a digital currency could look like to help catch up with China’s “trail blazing” and leapfrog private projects like Facebook Inc’s FB.O Libra stablecoin.

Small toy figurines are seen on representations of the Bitcoin virtual currency displayed in front of an image of China’s flag in this illustration picture, April 9, 2019. REUTERS/Dado Ruvic/Illustration/Files

The central banks and the Bank for International Settlements (BIS), said core features should include resilience, availability at low or no cost, appropriate standards and clear legal framework, and an appropriate role for the private sector.

Bank of England (BoE) Deputy Governor and chair of a BIS committee on payments Jon Cunliffe said the rise in cashless payments since lockdowns to fight the pandemic has accelerated how technology is changing forms of money.

Central banks began

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India’s Sensex Gains as Central Bank Signals More Easing Ahead

October 9, 2020
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(Bloomberg) — Indian stocks rose after the central bank signaled more policy easing ahead and announced a slew of liquidity steps to support the economy while keeping rates unchanged on Friday.



a man standing in front of a tall building: A pedestrian walks past an electronic ticker board indicating latest figures for the S&P BSE Sensex at the Bombay Stock Exchange (BSE) building in Mumbai, India, on Monday, May 20, 2019. Indian stocks rallied the most in more than three years and the rupee and sovereign bonds climbed after exit polls signaled Prime Minister Narendra Modi’s ruling coalition is poised to retain power.


© Bloomberg
A pedestrian walks past an electronic ticker board indicating latest figures for the S&P BSE Sensex at the Bombay Stock Exchange (BSE) building in Mumbai, India, on Monday, May 20, 2019. Indian stocks rallied the most in more than three years and the rupee and sovereign bonds climbed after exit polls signaled Prime Minister Narendra Modi’s ruling coalition is poised to retain power.

The S&P BSE Sensex climbed 0.6% to 40,434.50 as of 10:55 a.m. in Mumbai, while the NSE Nifty 50 Index advanced 0.5%. Both measures are set for their best week since early June and close to erasing year-to-date losses.

“An accommodative stance remains positive for sentiment,” said Kranthi Bathini, an investment adviser at WealthMills

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U.S. Stock Futures Rise Ahead of Jobless Claims Data

October 8, 2020
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U.S. stock futures ticked up Thursday ahead of fresh data on the number of Americans claiming unemployment benefits, which is likely to show marginal gains as the labor market continues its halting recovery.

Futures tied to the S&P 500 climbed 0.4%, signaling muted gains for the U.S. stock market after the opening bell. This would extend the broad-market index’s rally into a second day.

Economists expect data on applications for jobless benefits, due to be released at 8:30 a.m. ET, will have ticked down to 825,000 last week, from 837,000 a week earlier. The figures are viewed as a proxy for layoffs, and will be monitored closely to assess the extent to which companies continue to reduce head count. This metric is still likely to be above pre-pandemic highs, despite dropping sharply from a peak of near 7 million in March.

“These are still high in the grand scheme of

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CEE MARKETS-Currencies stable, stocks mixed ahead of Polish cenbank decision

October 7, 2020
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By Anita Komuves

BUDAPEST, Oct 7 (Reuters) – Central European currencies held stable on Wednesday, having briefly weakened after U.S. President Donald Trump’s announcement on Tuesday that negotiations about a new fiscal stimulus would stop until after the Nov. 3 election.

The announcement led to larger moves on the FX market Tuesday evening, Equilor wrote in a note.

Some emerging currencies, including the Hungarian forint, weakened as the announcement led to a risk-off mood and a strengthening of the dollar, they added.

The sour mood was replaced on Wednesday by optimism a stimulus package would be introduced after the election.

The forint EURHUF= was up 0.1% on Wednesday, trading at 359.450 versus the common currency.

Investors were also eyeing the Polish central bank’s rate decision later today. All 16 analysts polled by Reuters expect the key interest rate to remain on hold at a record low of 0.1%.

Poland’s

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India Stocks Climb After Volatile Start Ahead of Monetary Policy

October 7, 2020
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Sensex at Four-Month High Despite India Overtaking Russia for Third Biggest Tally of Virus Cases

Photographer: Dhiraj Singh/Bloomberg

Photographer: Dhiraj Singh/Bloomberg

Indian stocks rose after a volatile start as the central bank’s new monetary policy committee began meeting ahead of a decision later this week.

The S&P BSE Sensex advanced 0.8% to 39,871.03 as of 10:47 a.m. in Mumbai, after slipping as much as 0.3%. The NSE Nifty 50 Index added 0.4%. Gains were driven by India’s most valuable company, Reliance Industries Ltd., which said it will get a $750 million investment in its retail unit.

The interest rate decision due on Friday is likely to see borrowing costs held at a record low as inflation remains elevated, potentially benefiting lenders’ net interest margins. Meanwhile, signs of economic revival may bode well for consumer spending as India heads into its seasonal festive season.

“If we get more liquidity, whether directly or indirectly from the RBI, it could lead to a rally in financial stocks,” said

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Alexion Pharmaceuticals: More Potential Ahead Despite Upbeat Guidance (NASDAQ:ALXN)

October 7, 2020
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Investment Thesis

Fueled by chronic undervaluation despite the solid financials and a rich pipeline, Alexion Pharmaceuticals, Inc. (ALXN) has frequently been the subject of acquisition rumors as investors demand a sale of the company. Management has revised up the 2020 revenue guidance twice over the past three months, but the shares have underperformed the broader market in the year so far. The top line growth continued unabated even through a raging pandemic, and margins have also held up. The rivals are challenging the prospects, but proactive measures are in place to neutralize the threat.

The current NTM EV/EBITDA multiple stands at a sharp discount to the historical average, which, along with our conservative EBITDA forecast, based on revenue assumptions in line with the past, indicates an undervalued stock. Meanwhile, the strong cash flows and net cash position have attracted acquirers looking for growth at a cheap valuation. Amid acquisition rumors,

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