worries Archives - Zxcoachoutlet

Big money managers flee cash despite coronavirus, election worries

October 13, 2020

BMO Capital Markets chief investment strategist Brian Belski argues traders shouldn’t let near-term issues affect long-term investing.

Big money investors have over the last six months poured cash into the markets at the fastest pace in 17 years as they fretted over COVID-19 and the upcoming presidential election, according to a new survey from Bank of America.

Cash holdings fell to 4.4% in October, down from 4.8% in September, and have now dropped 1.5 percentage points since April, the fastest decline since 2003. A reading below 4% is considered investor greed.

Respondents “said the recession is over, reduce cash, pause cyclical rotation, and price in contested election & February vaccine,” wrote Michael Hartnett, chief equity strategist at Bank of America. “We say sell SPX > 3600 and cyclical rotation via banks/energy to resume in Q4.”

Ticker	Security	Last	Change	Change %
SPX	n.a.	n.a.	n.a.	n.a.

TRUMP’S STOCK GAINS HIT

FTSE 100 drops as oil prices fall on U.S. stimulus worries; Tesco jumps

October 7, 2020

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By Shashank Nayar

Oct 7 (Reuters) – London’s FTSE 100 slipped on Wednesday, as a fall in oil prices following U.S. President Donald Trump’s decision to halt negotiations with Congress for a U.S. stimulus knocked energy stocks, while Tesco gained after reporting a jump in sales.

The blue-chip FTSE 100 index .FTSE fell 0.2%, with energy .FTNMX0530 and insurers .FTNMX8570 leading the declines. The mid-cap index .FTMC was up 0.1%.

The energy index was also the biggest drag on the FTSE 100 as oil prices fell more than 1% on Trump’s decision and a larger-than-expected increase in U.S. crude inventories. O/R

“The market is in belief that there will be a stimulus package coming anyway irrespective (of) who wins the U.S. elections. However, investors are on the edge with continuing uncertainty on Brexit and have taken the view that they shouldn’t place long bets in this environment,”

Growing Worries Over Rising Interest Rates

October 6, 2020

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Sam LaDuc over at Samantha LaDuc trading out of the Boston area, published this missive, Election Risks and Opportunities, over the weekend that is worth the read.

Agree with Sam on Financials, not so much Energy (at least longer term) in terms of an uncorrelated, defensive trade to a technology correction.

Interesting too that Samantha is talking about rising interest rates. With a Biden victory, I think it is less probable than with a Trump victory since a President Biden has already said the Dems would work to repeal the 2017 tax cuts and raise tax rates. That is more likely to slow economic growth and put a damper on any recovery, albeit an economic recovery that is expected to be slower into 2021 anyway.

My big worry – from a capital markets perspective – with a President Trump victory, particularly if it’s accompanied by a Congressional mandate, is that

Small pipeline, large worries for some S. Carolina residents

October 3, 2020

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PAMPLICO, S.C. (AP) — The land agent who arrived at Reatha Jefferson’s door in May, unannounced and unmasked in the middle of the pandemic, told her he was giving her one more chance.

The agent was there on behalf of Virginia-based utility giant Dominion Energy. He wanted to see if Jefferson would let Dominion run a new natural gas pipeline through the land her great-grandfather, a rural Black farmer, had bought more than a century ago in Pamplico, South Carolina.

Jefferson sent the agent away and in July, the utility served her with court papers in an attempt to use eminent domain to build the pipeline.

The proposed 14.5-mile-long (23-kilometer-long) gas line is small in contrast to projects like the recently canceled Atlantic Coast Pipeline, or even a 55-mile-long (88.5-kilometer-long) pipeline Dominion built recently in the state. But for Jefferson, it threatens to stain the land where her relatives once

US STOCKS-Wall Street churns as stimulus hopes vie with pandemic worries

October 1, 2020

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For a live blog on the U.S. stock market, click LIVE/ or type LIVE/ in a news window.

U.S. jobless claims, consumer spending hint at stalling recovery

Airlines head higher on coronavirus aid hopes

Exxon warns of bigger-than-expected Q3 loss

Market leaders boost all three indexes

Indexes: Dow off 0.30%, S&P up 0.07%, Nasdaq 0.91%

New throughout, updates prices, market activity and comments to late afternoon; new byline, adds NEW YORK dateline

By Stephen Culp

NEW YORK, Oct 1 (Reuters) – Wall Street see-sawed on Thursday as investors juggled optimism over progress on stimulus talks Washington with signs of waning momentum of economic recovery from the pandemic recession, now entering its ninth month.

The S&P 500 was modestly higher and the Nasdaq more solidly in the black. The blue-chip Dow was lower, with all three indexes losing steam in mid-afternoon trading.

A spate of data, including jobless claims and

Oil extends losses as rising virus cases spur demand worries

September 30, 2020

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By Aaron Sheldrick, Dmitry Zhdannikov

TOKYO/LONDON (Reuters) – Oil prices fell for a second day on Wednesday as rising coronavirus cases prompted concerns about further restrictions on global economic activity that could curb fuel demand.

Paul Putnam, 53, a rancher and independent contract pumper walks past a pump jack in Loving County, Texas, U.S. November 25, 2019. Picture taken November 25, 2019. REUTERS/Angus Mordant

Brent crude LCOc1 for November delivery dropped 57 cents, or 1.4%, to $40.46 per barrel by 1005 GMT. West Texas Intermediate CLc1 fell 14 cents, or 0.4%, to $39.15.

The November Brent contract expires today, to be replaced by the December contract, which was down around 0.5% at $41.36.

The benchmarks fell more than 3% on Tuesday as global COVID-19 cases passed 1 million, having doubled in three months.. A Reuters monthly oil poll showed prices would have little upside this year [O/POLL].

“The increasing number

Oil Drops Second Day as Surging Coronavirus Cases Prompt Demand Worries | Investing News

September 30, 2020

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TOKYO (Reuters) – Oil prices fell for a second day on Wednesday, extending big losses from the previous session amid rising concerns about fuel demand as the coronavirus pandemic worsens.

Brent crude

dropped 23 cents, or 0.6%, to $41.03 per barrel by 0048 GMT. West Texas Intermediate

fell 26 cents, or 0.7%, to $39.29.

The benchmarks fell more than 3% on Tuesday as global COVID-19 cases passed 1 million, having doubled in three months.

“It is important to keep in mind that moves to the downside have the potential to be supersized,” given rising coronavirus cases and increasing oil supplies around the world, said Bob Yawger, director of energy futures at Mizuho in New York.

CEOs of the world’s biggest trading companies are forecasting a weak recovery for oil demand and little movement in prices in the coming months and potentially years.

Weighing heavily on markets is the continued depressed

Oil falls as demand worries counter U.S. stimulus hopes

September 29, 2020

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By Sonali Paul, Koustav Samanta

MELBOURNE/SINGAPORE (Reuters) – Oil prices fell on Tuesday, paring gains from the previous session, as persistent demand concerns due to the coronavirus pandemic outweighed hopes for a new U.S. stimulus package.

FILE PHOTO: A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma, September 15, 2015. REUTERS/Nick Oxford

More than 1 million people have died of COVID-19 as of Tuesday, a Reuters tally showed, with fatalities and infections surging in several countries.

U.S. West Texas Intermediate (WTI) crude futures dropped 22 cents, or 0.5%, to $40.38 at 0438 GMT.

The more-active Brent crude futures for December fell 19 cents, or 0.4%, to $42.68 a barrel. The November contract, which expires on Wednesday, fell 17 cents to $42.26 per barrel.

Commodities markets crept up earlier in the day as Democratic lawmakers unveiled a new $2.2 trillion coronavirus relief bill,

Breakingviews – Toshiba’s pulled chip IPO is tip of its worries

September 28, 2020

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Toshiba’s used-memory chips are seen at an electronics shop in Tokyo November 9, 2010. Japan’s Toshiba Corp stuck to its full-year operating profit forecast, keeping it below market expectations, citing concerns about an increasingly murky economic outlook, despite brisk chip sales.

HONG KONG (Reuters Breakingviews) – The reason for Kioxia’s decision to pull its $3.2 billion initial public offering on the eve of pricing depends on who you ask. The world’s second largest maker of flash memory chips said it was down to market volatility and pandemic uncertainties. Analysts highlighted the punchy valuation sought. Others pointed to the problems of its sales to Huawei, battered by U.S.-China trade tensions. Whatever the reason, the biggest loser is Japan’s Toshiba, which needed a pick-me-up.

The conglomerate holds 40% of the shares in Kioxia, known as Toshiba Memory until its parent was forced to spin it out in a 2018 scramble for survival.

U.S. imports surge as pandemic worries have retailers stockpiling

September 26, 2020

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By Lisa Baertlein

LOS ANGELES (Reuters) – The Los Angeles-based maker of Exploding Kittens and Throw Throw Burrito board games ordered 1 million extra units from its factory in China with the hope of preventing coronavirus from ruining its Christmas sales.

The move from the company, which sells product through Target <TGT.>, Walmart <WMT.N>, and Amazon.com <AMZN.O>, comes as U.S. suppliers and retailers have been rebuilding depleted inventories and battling uncertainty by stockpiling pandemic sellers such as toys, refrigerators, home furnishings and booze.

In the last few months, “I started getting the games out of China as fast as possible,” said Carly McGinnis, chief operating officer at Exploding Kittens.

U.S. imports leapt 5.9% to a record in August, the first year-over-year rise since September 2019, according Panjiva, the supply chain research unit of S&P Global Market Intelligence. It said imports of household appliances jumped 79.7%, and furniture imports increased 38.1%,