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Tag: gains

Yearn finance (YFI) gains 36% as DeFi tokens follow Bitcoin’s bullish trend

October 10, 2020
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| finance

In the past 72 hours, Yearnfinance (YFI) surged by 58% after dropping to as low as $12,260 at a few exchanges. 

Three factors that may have catalyzed the sharp rebound are: YFI had become deeply oversold, lead developer Andre Cronje’s deep commitment to the project and the ever expanding use cases for YFI within a large ecosystem.

YFI was deeply oversold

Over the past month DeFi tokens endured a brutal correction which saw the value of many DeFi tokens drop by 40%-70%. The sell-off appears to be primarily led by corrections in Bitcoin (BTC) and Ether (ETH) but now that BTC has turned $11K to support, traders are watching to see if YFI and other tokens will continue to rise higher.

YFI/USDT daily chart. Source: TradingView.com

As Cointelegraph reported, the strong fundamentals of the top DeFi projects was a hint that the market was oversold.

At the time data showed

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EMERGING MARKETS-Most Latam currencies up for the week, Brazil leads gains

October 9, 2020
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By Shreyashi Sanyal

Oct 9 (Reuters) – Most major currencies in Latin American were set to end the week higher on Friday, with Brazil’s real leading gains after economic data through the week showed signs of improvement, while a weaker dollar also offered support.

The real BRBY, BRL= strengthened 1.3%, heading for its first weekly gain in five as data showed a pick-up in Brazil’s services sector last month. Another report showed a record reading on retail sales for August.

Investors, however, worried about Brazil’s public finances after the introduction of a new fiscal bill, called Renda Cidada, fanned fears about the government overshooting its spending limit.

FX analysts at Commerzbank said that given the uncertainty about the pandemic’sprogression and its economic impact, it is unlikely that disagreements about the consolidation of national finances will be resolved soon.

Mexico’s peso MXN= was on track

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TSX at one-month high on strong employment data, commodity gains

October 9, 2020
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(Reuters) – Canada’s main stock index hit a one-month high on Friday after better-than-expected employment data underscored a consistent economic recovery from the coronavirus, while elevated gold and base metal prices also helped.

* At 9:36 a.m. ET (13:36 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 59.53 points, or 0.36%, at 16,594.07.

* The index was also set for its largest weekly gain since mid-July, as heavyweight gold and oil-linked stocks benefited from higher resource prices.

* Canada added 378,200 jobs in September and the unemployment rate fell to 9.0%, beating analyst expectations.

* The materials sector, which includes precious and base metal miners and fertilizer companies, added 2.1% as gold and base metal prices rose on the back of a weak dollar and supply woes.

* While the energy sector fell on the day in tandem with oil prices, it was set to add nearly 9%

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General Electric Gains on Goldman Sachs Rating, Price Target

October 9, 2020
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General Electric GE shares jumped higher in pre-market trading Friday after analysts at Goldman Sachs resumed coverage of the industrial group with a buy rating and a $10 price target.

Goldman Sachs analyst Joe Ritchie, citing the progress towards a ‘”leaner, structurally more productive company with better capital discipline” during the two-year tenure of CEO Larry Culp, said the group’s free cash flows will improve next year as its higher-margin businesses recover from the worst of the coronavirus pandemic. He also argues there is potential upside for both the stock and its longer-term price target heading into the group’s third quarter earnings on October 28.

Culp told investors last month that GE’s industrial free cash flows would be positive before the end of this year, a noted improvement from his July update that it would likely turn positive on in 2021.

General Electric shares were marked 3.3% higher in early

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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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Oil Prices Pause in Week-Long Surge Norwegian Strike Drives Strong Gains | Investing News

October 9, 2020
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TOKYO (Reuters) – Oil prices eased a few cents early in trading on Friday in a breather at the end of a week of big gains propelled by a strike in Norway that raised the prospect of supply from the major producer being slashed by up to 25%.

Brent

was down by 9 cents at $43.25 a barrel by 0152 GMT, having gained more than 3% on Thursday. U.S. West Texas Intermediate (WTI) crude

dropped 5 cents at $41.14 after also falling more than 3% on Thursday.

Both contracts are on track for gains of around 10% this week – the first rise in three weeks – yanked higher by the prospect of tighter supply on production outages in the North Sea because of the action by Norwegian oil workers.

“This could see almost one million barrels a day of crude oil impacted,” ANZ Research said in a note.

Norwegian

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S&P 500 Gains 27 Points as Occidental, ExxonMobil Lead Oil Stock Surge, IBM Shares Rise on Spinoff

October 8, 2020
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| business

For a change, investors aren’t having to count on tech stocks to deliver the goods. The S&P 500 Index (SNPINDEX: ^GSPC) gained 27 points, up 0.8%, on Oct. 8. The Technology Select Sector SPDR ETF (NYSEMKT: XLK) gained 0.5%, while the Energy Select Sector SPDR ETF (NYSEMKT: XLE) surged 4.1% higher on another strong day for crude oil. IBM (NYSE: IBM) was the sole tech giant to have a big day, with shares gaining over 5% on news it was going to spin off part of its business.

Utility and real estate stocks, segments that usually do well in a recession but have underperformed in a 2020 that’s been anything but usual, also finished up today. Every stock in both sectors closed higher, with DTE Energy (NYSE: DTE) up 6.3% and Iron Mountain (NYSE: IRM) up 4%, leading the way.

Oil barrel and pumpjack paperweights on pile of cash.

Image source: Getty Images.

Is oil back? Investors are behaving

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GLOBAL MARKETS-Wall St gains, crude settles higher on signs of pandemic aid talks progress

October 8, 2020
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By Stephen Culp

NEW YORK, Oct 8 (Reuters) – U.S. stock indexes touched one-month highs and crude prices gained ground on Thursday amid signs of progress in fiscal aid negotiations.

U.S. House Speaker Nancy Pelosi said emergency aid for commercial airlines was a matter of national security and could only pass through Congress with assurances that negotiations will continue toward crafting a broader pandemic relief package.

And while White House adviser Larry Kudlow said the Trump administration would like to see “standalone” bills to provide additional unemployment assistance and extend the Paycheck Protection Program, Senate Leader Mitch McConnell warned there remain “vast differences” between Democrats and Republicans regarding the size of a more comprehensive deal.

“We’re seeing the broad market lift and certainly cyclical sectors are doing well,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. “That shows that the market is anticipating some kind

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Airline stocks IAG and Rolls-Royce lead FTSE gains

October 8, 2020
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British Airways owner IAG shares were up as much as 11% on Thursday. Photo: PA
British Airways owner IAG shares were up as much as 11% on Thursday. Photo: PA

Airline stocks are gaining on the FTSE 100 (^FTSE), with IAG (IAG.L) and Rolls-Royce (RR.L) among the leaders.

IAG shares were up as much as 11% on Thursday and Rolls-Royce had even more dramatic gains, up 22% at around 4:15pm in London.

“RR [Rolls-Royce] is set to post record gains for this week as investors are buying the stock as it is way too cheap, said Naeem Aslam, chief market analyst at AvaTrade. “As for the IAG, speculations are that there could be another support package for airlines as well just like the US.”

Markets have been buoyed in Asia and Europe as investor confidence grew overnight following renewed hopes for a US stimulus deal. US president Donald Trump said on Wednesday that he will resume talks after the election and further positive news came

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Dow Climbs 100 Points, Stocks Post Minor Gains Despite Another Worse-Than-Expected Jobs Report

October 8, 2020
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Topline

Shares of IBM and Regeneron Pharmaceuticals helped buoy major indexes on Thursday, but the broader market remained tepid as jobless claims continue to paint a grim picture of the economic recovery and uncertainty over coronavirus relief remains.

US STOCKS

New York Stock Exchange.

© 2016 Bloomberg Finance LP

Key Facts

The Dow Jones Industrial Average was up roughly 100 points, or .4%, and S&P 500 up .6% shortly after the open, while the tech-heavy Nasdaq also climbed up .6%.

Data on jobless claims released Thursday morning revealed that 840,000 Americans filed new unemployment claims last week, more than the 820,000 new claims economists were forecasting and just slightly less than the 849,000 new claims filed in the previous week.

IBM shares are surging 8% after the firm announced plans to spin off its IT infrastructure unit into a new public company so that the blue-chip tech firm can focus on the

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