Month: October 2020

(Bloomberg) — Hedge funds have pulled back from one of the biggest short positions in U.S. tech stocks in over a decade, in a near-record buying spree of Nasdaq futures last week.Net speculative positions in Nasdaq 100 mini contracts surged by the most in more than 13 years in the week through Oct. 13, according to the latest Commodity Futures Trading Commission data. The increase was the second biggest on record in data going back to 1999 and left speculators net long the futures for the first time since the beginning of last month.The buying frenzy comes after fast-money accounts …read more […]

…read more […]

Oct.18 — Michael Barnett, chief executive officer of the Auckland Chamber of Commerce, discusses what Prime Minister Jacinda Ardern’s landslide victory in New Zealand’s general election means for local businesses and the economy. He speaks with Haidi Stroud-Watts and Kathleen Hays on “Bloomberg Daybreak: Australia.” …read more […]

Oct.18 — China passed a new law to restrict sensitive exports to protect national security, helping Beijing gain reciprocity against U.S. as tech tensions mount. Tom Mackenzie reports on “Bloomberg Daybreak: Australia.” …read more […]

…read more […]

(Bloomberg) — The Federal Reserve and other central banks will eventually discover that breaking up isn’t easy after partnering with their governments and the financial markets to avert a pandemic-driven depression.Investors and lawmakers enamored with cheap money may well balk when monetary authorities try to throttle back their quantitative easing and other stimulus measures.“They are increasingly on what I call a no-exit paradigm,” Allianz SE chief economic adviser and Bloomberg Opinion columnist Mohamed El-Erian said on a panel discussion last week.The problem isn’t pressing — – and in fact is probably one central bankers would be glad to have if …read more […]

(Bloomberg) — U.S. futures opened higher Monday amid optimism about some progress on stimulus talks. Asian stocks looked set for gains.S&P 500 Index futures gained after the gauge closed higher for a third week on Friday. Contracts in Japan, Australia and Hong Kong also rose. U.S. Speaker of the House Nancy Pelosi set a Tuesday deadline for more progress with the White House after lengthy discussions at the weekend with Treasury Secretary Steven Mnuchin. The pound held its ground after a report officials were prepared to water down controversial Brexit legislation in a move that could revive failing talks with …read more […]

Journal Editorial Report: The week’s best and worst from Kim Strassel, Kyle Peterson and Dan Henninger. Images: Getty Images Composite: Mark Kelly …read more […]

Journal Editorial Report: A look at the most closely contested races. Image: Logan Cyrus/AFP via Getty Images …read more […]

Journal Editorial Report: What we learned from the nominee and her inquisitors. Image: Tasos Katopodis/Getty Images …read more […]

Journal Editorial Report: The election turns to censorship and separated candidates. Images: Getty Images Composite: Mark Kelly …read more […]

…read more […]

(Bloomberg) — Jacinda Ardern’s emphatic election victory is seen as an endorsement of an inclusive brand of leadership that may ripple beyond New Zealand’s borders.In an age of populism and confrontation, Ardern’s message of empathy and kindness married with skillful crisis management won her Labour Party its biggest share of the vote in more than 70 years. That contrasts starkly with the divisive politics in the U.S. as Donald Trump and Joe Biden face off for the presidency on Nov. 3.“Ardern’s approach could be a lesson for other leaders seeking to maximize their support base,” said Zareh Ghazarian, senior lecturer …read more […]

…read more […]

Biopharma stocks, which started the week on a firm footing, lost momentum mid-way through amid market-wide sell-off triggered by waning stimulus hopes.The week was a quiet one from the perspective of news flow. Johnson & Johnson (NYSE: JNJ) was in the news for both right and wrong reasons. The company’s Phase 3 trial of its coronavirus vaccine was paused due to a trial participant contracting an unexplained illness. On a positive note, the company reported solid quarterly results and lifted its guidance.Pfizer Inc. (NYSE: PFE), meanwhile, stayed above political pressure and provided a realistic timeframe for filing for emergency use …read more […]