Index funds are diversified mutual funds whose holdings mirror a broad stock index, such as the S&P; 500. Here’s what else you need to know about them. …read more […]
Sep.14 — Pfizer Inc. said it’s likely the U.S. will deploy a Covid-19 shot before the end of the year. AstraZeneca Plc restarted testing after its vaccine trial was halted last week. Global coronavirus cases surpassed 29 million and deaths exceed 924,000. Sam Fazeli of Bloomberg Intelligence has the latest on “Bloomberg Markets: European Open.” …read more […]
(Bloomberg) — Citigroup Inc. has a message to cheer up despairing oil bulls: prices will get back to $60 a barrel before the end of 2021.“We’re bullish definitely,” Ed Morse, global head of commodities research at Citi, said in an interview during the S&P Global Platts Asia Pacific Petroleum Conference. “In our base case, prices go up because the market balances” and gigantic inventories are drawn down, he said.The rate at which those stockpiles are shrinking appears to have slowed in recent weeks as the coronavirus proved stubbornly persistent and the OPEC+ alliance returned barrels to the market. That’s pushed …read more […]
(Bloomberg) — Alibaba Group Holding Ltd. is in talks to invest $3 billion into Southeast Asian ride-hailing giant Grab Holdings Inc., according to people familiar with the matter.The Chinese e-commerce giant, a sole investor in the round, will spend a portion of the funds to acquire some of the Grab stock held by Uber Technologies Inc., one of the people said, asking not to be named as the discussions are private. The deal may represent one of Alibaba’s biggest bets on Southeast Asia since its first investment in Lazada in 2016. China’s largest corporation has previously had limited forays in …read more […]
(Bloomberg) — BP Plc said the relentless growth of oil demand is over, becoming the first supermajor to call the end of an era many thought would last another decade or more.Oil consumption may never return to levels seen before the coronavirus crisis took hold, BP said in a report on Monday. Even its most bullish scenario sees demand no better than “broadly flat” for the next two decades as the energy transition shifts the world away from fossil fuels.BP is making a profound break from orthodoxy. From the bosses of corporate energy giants to ministers from OPEC states, senior …read more […]
Sep.14 — The risk concentration in equities, particularly in U.S. and emerging markets, is “very frightening,” says Tatjana Puhan, deputy chief investment officer at Tobam SAS. “On the one side it’s high sector concentration, but on the other it’s also high idiosyncratic concentration because you have very few very big stocks,” she said in an interview on “Bloomberg Markets: European Open.” …read more […]
The resumption of the trials for the vaccine, one of the most advanced in development and regarded by governments and financial markets as one of the best bets to tackle the health crisis in the months ahead, buoyed stock markets around the world. Global trials of the vaccine had also been paused following the UK suspension. Brazil has approved restarting the trials and the Serum Institute of India is awaiting permission from the Drugs Controller General of India. …read more […]
The Dow and S&P 500 moved higher on Friday as the averages attempted to end a volatile and holiday-shortened week on a high note. …read more […]
As the final trading session of the abbreviated week draws to a close, US futures are looking to data reports for direction. …read more […]
(Bloomberg) — U.S. stock index futures rose as reports related to coronavirus treatments and corporate acquisitions supported investor sentiment ahead of the Federal Reserve’s policy meeting this week.December contracts on the S&P 500 gained 1.2% as of 6:25 a.m. in London after the University of Oxford and AstraZeneca Plc restarted a U.K. trial of a Covid-19 vaccine, while Pfizer Inc. Chief Executive Officer Albert Bourla said it’s “likely” the U.S. will deploy a treatment to the public before year-end. Separately, Gilead Sciences Inc. agreed to acquire Immunomedics Inc.Futures on the Nasdaq 100 Index climbed 1.4% after Nvidia Corp. said it …read more […]
(Bloomberg Opinion) — The European Central Bank has a problem, and, no, it is not the exchange rate. The recent appreciation of the euro may have caught all the headlines, but it pales in comparison with the broader challenge the pandemic poses for monetary policy. Rather than simply talking down the currency, the ECB must take more substantive steps to support economic growth and lift inflation back to target.Since the start of the summer, the euro has soared to nearly $1.20, its highest level in more than two years. A stronger currency can damage growth, since it makes euro zone …read more […]
Sep.14 — Ed Rogers, chief executive officer and chief investment officer of Rogers Investment Advisors, discusses the upcoming leadership change in Japan, and the implications for the country’s policies, the economy and financial markets. Japanese Chief Cabinet Secretary Yoshihide Suga is the front-runner to become the next prime minister. Rogers also talks about the stake purchases by Warren Buffett’s Berkshire Hathaway Inc. in five of Japan’s biggest trading companies. He speaks on “Bloomberg Markets: Asia.” …read more […]
The online giant is burrowing into the fashion world, looking to take on the likes of Net-a-porter, Farfetch and Matchesfashion.com. …read more […]
Walmart sees the opportunity for ‘national-scale operations across the United States.’ …read more […]
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