Month: August 2020

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Simon Property Group, the No. 1 U.S. mall owner, is expected to post its smallest quarterly profit in nearly six years on Monday, as the plunge in foot traffic and early government-mandated closures resulted in tenants being unable or unwilling to pay full rent. “The upcoming earnings for mall owners could be one of the worst quarters ever,” said Compass Point Research & Trading analyst Floris van Dijkum. The pain from a slew of major retail bankruptcies, including Neiman Marcus and Brooks Brothers, and hundreds of store closures from department stores Macy’s and Nordstrom and others is far …read more […]

Stocks are steady this Friday courtesy of the better than expected jobs report. …read more […]

Stocks are mixed this Friday morning as ongoing coronavirus stimulus negotiations overshadowed a better than expected jobs report. …read more […]

As the final trading session of the week prepares to kick off, stocks are pointing to the upcoming monthly jobs report for direction. …read more […]

Hyundai Motor Co (OTC: HYMTF) announced the launch of a brand dedicated to battery electric vehicles on Sunday.What Happened: The automaker plans to sell one million units of battery-electric vehicles by 2025, occupying 10% of the global market share, in an effort to emerge as a leader in the segment under its dedicated EV brand “Ioniq.”Three electric vehicles under the Ioniq brand will be released beginning early 2021, according to Hyundai. Launch of a midsize crossover vehicle in early 2021, a sedan in early 2022, and a large crossover vehicle in early 2024 is planned.Nikola Wants To Coopearte: Trevor …read more […]

Spot gold was down 0.2% to $2,030.10 per ounce by 0545 GMT. U.S. gold futures rose 0.6% to $2,040.80. Gold hit a record high of $2,072.50 on Friday before retreating nearly 2% as the dollar bounced on data showing U.S. nonfarm payrolls increased by 1.763 million jobs in July. …read more […]

(Bloomberg) — Tencent Holdings Ltd. added to Friday’s sharp decline to start the week, helping lead weakness in technology shares after the U.S.’ move to ban residents from doing business with the company’s WeChat app.The stock fell as much as 4.6% Monday, approaching Friday’s lowest level, before finishing morning trade down 3.3%. Tencent lost $35 billion of market value to end last week as investors weighed the vaguely worded order from President Donald Trump, which initially triggered fears that it applied to a number of the internet giant’s operations.Tech stocks in Hong Kong led declines in the city Monday, with …read more […]

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Aug.09 — Taiwan President Tsai Ing-wen welcomes U.S. Health and Human Services Secretary Alex Azar, who arrived on Sunday for the highest-ranking visit by an American official to the island in decades. The trip stands to further worsen spiraling relations between the U.S. and China. (Tsai’s remarks are translated) …read more […]

Aug.09 — The U.S. and China are facing off on all sorts of issues. U.S. President Donald Trump moved to ban the apps TikTok and WeChat. Bloomberg’s Peter Elstrom discusses the implications for the tech industry on “Bloomberg Markets: China Open.” …read more […]

Aug.09 — Hong Kong police are said to have arrested media tycoon and prominent democracy advocate Jimmy Lai under a national security law. That’s according to local media reports. Bloomberg’s Stephen Engle reports on “Bloomberg Daybreak: Asia.” …read more […]

(Bloomberg) — Friday’s attack by President Donald Trump on WeChat may have pushed many investors to offload Asia’s technology shares. But for some, the selloff has presented a good buying opportunity.Jian Shi Cortesi, a fund manager at GAM Investment Management in Zurich, bought some Chinese internet stocks on Friday and plans to further increase holdings if the stock prices pull back more.“The U.S. ban on Chinese internet companies will have little impact on the revenue and earnings of most listed Chinese internet companies,” Cortesi said in an interview. Her Asia Focus Equity Fund has a third of its investments in …read more […]

Oil prices climbed in early trade on Monday, clawing back over half of Friday’s losses, on hopes for a stimulus deal to shore up the U.S. economic recovery and a pledge from Iraq to deepen its crude oil supply cuts. U.S. West Texas Intermediate (WTI) crude futures rose 49 cents, or 1.2%, to $41.71 a barrel at 0010 GMT, while Brent crude futures were up 40 cents, or 0.9%, at $44.80 a barrel. Hopes grew on Sunday that a stand-off would end between U.S. Democrats and the White House on a new support package for cash-strapped U.S. states …read more […]

Hyundai Motor Co stock jumped as much as 10.2% on Monday to its highest price since May 2018, after the automaker said it would create a family of Ioniq-brand electric vehicles (EVs) as it aims to become the third-largest EV maker by 2025. In an announcement earlier on Monday, Hyundai said the elevation of Ioniq from individual vehicle nameplate to a brand will support its goal of capturing 10% of global EV sales within five years. Hyundai shares reached as much as to 162,000 won ($136.47) in a broader KOSPI market that was up 0.4% at …read more […]