U.S. gold futures were down 0.1% at $1,863.70. “Gold is going to be driven by the tenor of the U.S. dollar,” said Stephen Innes, chief market strategist at AxiCorp. “The big move is going to probably occur after the presidential debate when we have a better read on where the polls are going to be sitting.” …read more […]
Mornings have been lacking in joy this month for investors seeking returns in U.S. stocks. On average, losses on the benchmark S&P 500 index have been steepest between 10 a.m. and 11 a.m. Eastern (1400-1500 GMT), and every hour thereafter during the session has registered declines. Overall, the S&P 500 has registered losses for four straight weeks, its longest such streak in a year. …read more […]
(Bloomberg) — Siemens AG is about to let investors make pure-play bets on a company whose technology is behind roughly one-sixth of the world’s electricity.Monday’s listing of Siemens Energy AG marks the next step in the unwinding of a German conglomerate making a vast array of goods that spans medical scanners, locomotives and gas turbines into separate companies better suited to confront their own unique challenges.There will be no shortage of hindrances ahead for the extraction, processing, and transportation of oil and gas, as well as the generation, transmission and distribution of power and heat that Siemens Energy handles. Efforts …read more […]
Sep.27 — President Donald Trump called for Democratic presidential nominee Joe Biden to take a drug test before Tuesday’s presidential debate. He speaks at a news briefing at the White House. …read more […]
(Bloomberg) — HSBC Holdings Plc rose the most intraday in more than three years after last week hitting the lowest in quarter of a century and its biggest shareholder raised its stake in the embattled lender.A unit of Ping An Insurance Group Co. revealed in an exchange filing that it last week bought 10.8 million shares of HSBC, bringing its stake to 8% and cementing its place as the largest shareholder. Ping An purchased the shares at an average HK$28.2859 apiece.HSBC shares on Monday rose as much as 6.4%, the biggest intraday gain since June 2017, clawing back some of …read more […]
Sep.27 — Alexious Lee, head of China strategy research at Jefferies, discusses Chinese markets and his investment strategy. He speaks on “Bloomberg Markets: China Open.” …read more […]
(Bloomberg) — Semiconductor Manufacturing International Corp. retreated to a four-month low in Hong Kong after the U.S. imposed export restrictions on China’s largest chipmaker.The shares slumped as much as 7.9% on Monday, adding to their 25% loss for the month. Also listed in Shanghai, SMIC’s stock there retreated as much as 5.8% to the lowest level since its July debut. U.S. firms must now apply for a license to export certain products to the chipmaker, the Commerce Dept. said in a letter dated Sept. 25, reviewed by Bloomberg News. SMIC and its subsidiaries present “an unacceptable risk of diversion to …read more […]
Sep.27 — President Donald Trump reportedly paid just $750 in income taxes in both 2016 and 2017. A New York Times investigation has revealed millions of dollars in losses from golf courses, and hundreds of millions in debt that is coming due in the next few years. Bloomberg’s Kevin Cirilli reports on “Bloomberg Daybreak: Asia.” …read more […]
Sep.27 — President Donald Trump’s ban on TikTok was temporarily blocked by a federal judge, dealing a blow to the government in its showdown with the popular Chinese-owned app. Bloomberg’s Stephen Engle reports on “Bloomberg Daybreak: Asia.” …read more […]
Sep.27 — President Donald Trump answers questions about the New York Times article about his tax information for the last two decades. Trump is said to have paid $750 in federal income taxes in the year he won the presidency. He speaks at a news briefing at the White House. …read more […]
(Bloomberg) — Investors may remain in cash more than expected as safe-haven assets seen as traditional hedges aren’t panning out, according to JPMorgan Chase & Co.Above-average allocations to cash may be an unintended consequence of easy-money policies, with cyclical assets seen as too difficult to hedge in a zero-yield environment, strategists led by John Normand wrote in a note Friday. That conservative mindset may not become popular enough to affect the direction of risky markets, but it could discourage investors from deploying their cash into other asset classes, they said.“Defensive assets are delivering their weakest performance and therefore worst hedge …read more […]
Responding to questions at a press conference Sunday, President Trump denied a New York Times article about his finances, saying he pays “a lot” in federal income taxes. Photo: Chris Kleponis/Bloomberg News …read more […]
(Bloomberg) — Fed-up U.S. shale investors may finally be about to get the industry consolidation they’ve been demanding.Devon Energy Corp. and WPX Energy Inc. are in advanced talks to merge, the Wall Street Journal reported Saturday, with an announcement coming as soon as this week. The combination would create one of the biggest independent shale producers in the country, tying together two companies with sizable operations in the hottest part of the prolific Permian Basin, which straddles West Texas and southeastern New Mexico.U.S. shale company shareholders, frustrated after years of poor returns and missed targets, have long called for the …read more […]
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