Spot gold was unchanged at $1,727.65 per ounce by 0259 GMT, after declining 0.7% on Tuesday. U.S. gold futures fell 0.1% to $1,732.20. “There are a lot of investors who bought gold as a hedge for stocks, but stocks are going up and they don’t see value in that now,” said Stephen Innes, chief market strategist at financial services firm AxiCorp. …read more […]
Washington has imposed sanctions on Venezuela to starve President Nicolas Maduro of oil revenues – the OPEC nation’s main source of foreign income – and break his grip on power. The measures have reduced exports and deepened the country’s economic crisis but Maduro has held on, which U.S. officials say privately is a source of frustration for President Donald Trump. …read more […]
(Bloomberg) — Brent oil rose above $40 a barrel for the first time in almost three months on signs that OPEC+ producers are close to agreeing on a short extension of their historic deal to cut output.Futures in London climbed around 1% after closing at their highest level since March 6, the day the OPEC+ alliance broke down. Russia and several other nations in the group favor extending the production cuts that are set to ease from July by one month, according to people familiar with the situation. That’s within the range of Saudi Arabia’s call for a one to …read more […]
(Bloomberg) — For the longest time, the only way to get exposure to China’s real estate market, for mom and pop investors at least, was to buy a house.That’s all set to change with the advent of real estate investment trusts.China kicked off a REIT trial in late April that will initially focus around pooling capital to fund infrastructure projects like highways and airports. If successful, the program may be expanded to include traditional real estate, exposing individual investors to a market Goldman Sachs Group Inc. estimates could one day be worth as much as $3 trillion.For retail investors, it …read more […]
(Bloomberg) — Two major Canadian wireless companies said they will build out their next-generation 5G wireless networks with equipment from European providers, sidelining China’s Huawei Technologies Co.Montreal-based BCE Inc. said that Ericsson AB will provide the radio access network equipment — the critical antennas and base stations — for its 5G network. Telus Corp. said in a separate statement that it has selected Ericsson and Nokia Oyj “to support building” its network, without elaborating.Those announcements come ahead of a closely watched — and long overdue — decision by Prime Minister Justin Trudeau on whether to ban Huawei from participating in …read more […]
Today I’d typically send you a Trade Talk Tuesdays video message…
But due to what we’re seeing play out across many of our major cities, I felt that it would be far more appropriate to step back and issue you a timelier and more critical message.
So let’s begin…
Like most of you, I found myself waking up this morning and asking, “What happened overnight?”
Peaceful protests by day turned into violent protests by night – and fear is gripping the country.
As heartbreaking and unfortunate as it is to see our cities broken and battered, as investors, we must play these trends in the …read more […]
When looking at V-shaped recoveries, they hardly come more V-shaped than that of Tesla’s (TSLA). Hitting all-time highs in February, then plummeting along with the rest of the market, the EV pioneer’s fortunes appear to be speeding upwards yet again, as the swift recovery has led Tesla stock to a year-to-date gain of 115%.According to Wedbush analyst Daniel Ives, the moving parts are all falling into place for Tesla. The fact that Fremont is up and running again following the resolution of the Musk vs Alameda County quarrel combined with strong demand in China for Model 3 vehicles suggest a …read more […]
In just a couple of months, the COVID-19 outbreak has created a decade’s worth of growth in U.S. online shopping.
To be clear, it wasn’t as though the market share for online shopping hadn’t already been growing prior to the pandemic…
In 2019, consumers spent $602 billion online with American merchants. According to the U.S. Department of Commerce, that was a 15% increase from the $523 billion spent online in 2018.
That was an increase from the 13.6% increase in online market share that occurred from 2017 to 2018.
That shows a strong, accelerating tailwind for e-commerce.
Since the turn of the century, online shopping …read more […]
U.S. Federal Aviation Administration chief Steve Dickson will testify June 17 before a U.S. Senate panel on certification of the Boeing 737 MAX that was involved in two fatal crashes in five months that killed 346 people. The Senate Commerce Committee said Dickson “will testify about issues associated with the design, development, certification, and operation” of the MAX that has been grounded since March 2019. The FAA’s long-standing practice of delegating certification tasks to Boeing employees for the MAX has come under withering criticism. …read more […]
(Bloomberg) — Facebook Inc. Chief Executive Officer Mark Zuckerberg told staff at a companywide meeting that he won’t change his mind about a decision to leave up posts shared by U.S. President Donald Trump last week that many workers felt violated the company’s policies against violent rhetoric.At an all-hands meeting via video chat on Tuesday, Zuckerberg took questions from employees, many of whom have publicly voiced dismay that the Trump post, which seemed to threaten that looters would be shot, was still visible on Facebook’s service. Zuckerberg told workers that he and other members of the company’s policy team couldn’t …read more […]
In 1996, California became the first state to legalize medical marijuana.
In the decades since, cannabis legalization has expanded to 33 states and the District of Columbia.
Today, more than 60% of the U.S. population lives in states where medical cannabis is legal. And it’s estimated that as many as 115 million people have ailments that could potentially be treated by the medicine.
The country has been on lockdown for the past two months because of COVID-19. And we know the devastating effect that’s having on the broader economy.
But investors also want to know what impact that’s having on the cannabis industry.
So I …read more […]
(Bloomberg) — Zoom Video Communications Inc. reported quarterly sales that topped estimates, showing that a surge in demand for its video-conference service during the coronavirus pandemic has translated into more paying customers. The company also raised its annual revenue forecast by almost double.Revenue increased about 170% to $328.2 million in the period that ended April 30, the San Jose, California-based company said Tuesday in a statement. Analysts, on average, expected $203 million, according to data compiled by Bloomberg. Profit, excluding some items, was 20 cents a share, compared with analysts’ average projection of 9 cents.Zoom projected revenue of as much …read more […]
After the last financial collapse, Wells Fargo’s dividend history took a hit. In 2009, the company cut its quarterly dividend from $0.34 to $0.05. Then in 2011, Wells Fargo started raising it again. Each year since, the big bank has started rewarding shareholders with more income.
Wells Fargo (NYSE: WFC) survived the last collapse with flying colors. It’s been one of the safest banks to own. Over the past decade it has had some setbacks, along with the recent financial sector tumble, but this creates a better buying opportunity.
With the drop in share price, the dividend yield has climbed above 7%. …read more […]
In this article we will check out the progression of hedge fund sentiment towards Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) and determine whether it is a good investment right now. We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and […] …read more […]
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