Year: 2020

(Bloomberg) — U.S. President Donald Trump’s move to ban WeChat and TikTok roiled Asian markets and hit some of the highest profile technology stocks in the region.Shares of WeChat operator Tencent Holdings Ltd. plunged as much as 10% before paring some of the losses. Other tech names such as Alibaba Group Holding Ltd. and Taiwan Semiconductor Manufacturing Co. were among notable decliners in Asia on Friday. The MSCI Asia Pacific Index turned lower to fall as much as 1.4%, snapping a four-day rising streak.“There’s no saying how bad things could get,” said Hao Hong, chief strategist at Bocom International Holdings …read more […]

Spot gold was up 0.3% at $2,069.78 per ounce by 0308 GMT after hitting an all-time high of $2,072.50 in early trade. It has added 4.7% so far this week in what would be its ninth straight weekly gain. U.S. gold futures rose 0.6% to $2,081.60. …read more […]

The social media giant’s shares rose on Thursday after the launch of its new TikTok rival Instagram Reels. …read more […]

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(Bloomberg) — Hong Kong and mainland stocks fell after the Trump administration said it would ban U.S. residents from doing any business with China’s Tencent Holdings Ltd.Tencent, one of the most valuable stocks in the world and Asia’s biggest primary listing, tumbled as much as 10%, the most since 2011. That sent the Hang Seng Index to a loss of 2.4%. China’s tech-heavy ChiNext Index dropped 2.6% in Shenzhen to erase its gain for the week. The yuan weakened as much as 0.3%, the most in two weeks.The U.S. has in recent days extended its efforts to curb the influence …read more […]

(Bloomberg) — President Donald Trump signed a pair of executive orders prohibiting U.S. residents from doing any business with TikTok, WeChat or the apps’ Chinese owners beginning 45 days from now, citing the national security risk of leaving Americans’ personal data exposed.The move coincides with Trump’s push for the sale of TikTok, the popular video app owned by ByteDance Ltd., to an American company, and it comes a day after Secretary of State Michael Pompeo urged U.S. businesses to remove the two Chinese apps and other untrusted services from their stores. It threatens penalties on any U.S. resident or company …read more […]

There was a lot of hype building into EV truck maker Nikola’s (NKLA) first earnings report since becoming a publicly traded company.The lack of any meaningful earnings to report – Nikola is pre-revenue at least until the first of its EV trucks hit the market next year – means the talk ahead of Tuesday’s earnings call centered around updates to the company’s progress.Investors were hoping for string of partnerships and positive developments to push shares higher. Coming into the earnings call, NKLA stock had been on a rally and up by 19% over the past week. In the end though, …read more […]

U.S. President Donald Trump issued executive orders on Thursday banning any U.S. transactions with ByteDance, the Chinese company that owns video-sharing app TikTok, and Tencent , owner of the WeChat app, starting in 45 days. The orders come as the Trump administration said this week it was stepping up efforts to purge “untrusted” Chinese apps from U.S. digital networks and called the Chinese-owned short-video app TikTok and messenger app WeChat “significant threats.” The TikTok app may be used for disinformation campaigns that benefit the Chinese Communist Party, and the United States “must take aggressive action against the owners …read more […]

Posted by OFX AUD – Australian Dollar The Australian dollar outperformed most counterparts through trade on Thursday as commodity currencies led majors higher, amid ongoing US dollar softness and broader positive risk sentiment. Investors largely ignored a slew of disappointing earnings reports in Europe and instead drove equities and risk assets higher … Continue reading “Australian dollar extends move beyond 0.72 and tests resistance at 0.7240″The post Australian dollar extends move beyond 0.72 and tests resistance at 0.7240 appeared first on . …read more […]

(Bloomberg) — Dirt cheap, automated on apps and championed by newbie traders who brandish their broker balances on Twitter, the stuck-at-home trading phenomenon, born in the USA, has become a global craze.Retail’s tentacles are everywhere. In the U.K, tax-free savings account openings at Interactive Investor jumped 238% for investors between 25 and 34 years of age in April and May. In India, newly minted day traders are crowing after falling in love with stocks that trade below 7 U.S. cents apiece and riding most of them straight up. Small-time investors in Moscow bought almost twice as many Russian shares in …read more […]

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Hedging is not always profitable because it’s a protective measure that allows you to balance your risk. We know markets rarely move up in a straight line. But when they do, the risk of a major downside correction increases dramatically.
So you should be somewhat prepared. Using simple hedging techniques will help you to do just that…
Married Puts
This technique is an easy one. Simply buy out-of-the-money put options against shares of stocks that you own. A put option increases in value if the underlying stock decreases in value.
For example, if you have 2,000 shares of GM that you bought at $25, …read more […]

Stock futures were little changed to slightly lower Thursday evening as investors braced for the results of the July jobs report Friday morning, which will offer further signals of the direction and pace of economic activity given the ongoing pandemic. Debates in Washington, D.C., over another round of virus-related relief measures are set to continue on Friday, with lawmakers signaling they will be unlikely to hit their earlier self-imposed deadline of hashing out a deal by the end of this week. …read more […]