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Asian Stocks Drop in Risk-Off Turn; Yen Rises: Markets Wrap

(Bloomberg) — Stocks and U.S. futures took a modest dive in morning trading in Asia, with Hong Kong equities opening to a slide in excess of 1%.The yen and U.S. Treasuries advanced as a broad risk-off move developed, with gold edging higher. China’s yuan dropped. Market participants attributed the moves to worries over China’s coronavirus, after reports indicating mounting evidence of its contagiousness among humans. Seven straight weekly advances in the MSCI Asia Pacific Index might also have left some investors looking for a short-term exit point from equities.“As Chinese citizens travel home for the Lunar New Year, more cases …read more […]

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Why Goldman Sachs’s Currie Is Bullish on Commodities in 2020

Jan.20 — Jeff Currie, global head of commodities research at Goldman Sachs, discusses the potential for carbon capture technologies, oil prices and his outlook for metals. He speaks exclusively on “Bloomberg Daybreak: Asia” from the sidelines of the Goldman Sachs Global Macro Conference Asia Pacific in Hong Kong. …read more […]

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Tesla Slams Acceleration Petition Brought by ‘Short Seller’

(Bloomberg) — Tesla Inc. fired back against a petition filed with U.S. regulators, saying in a blog post Monday that it’s “completely false and was brought by a Tesla short seller.”The National Highway Traffic Safety Administration is evaluating allegations that Tesla Inc. vehicles contain a defect that can cause sudden unintended acceleration, according to a notice posted on the agency’s website last week. The review was prompted by a petition asking the agency to open a defect investigation of some 500,000 Tesla vehicles over the alleged flaw. The petition cited 127 consumer complaints to the agency and claims of 110 …read more […]

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How Safe Is Your Portfolio?

Last week, we received some excellent feedback in response to Monday’s article on calculating a stock’s beta.
So today, I’m going to take this little-known metric one step further by showing you how to manage risk by calculating your portfolio’s overall beta.
You can determine the beta of your portfolio by multiplying the percentage of the portfolio of each individual stock by the stock’s beta and then adding the sum of the stocks’ betas.
For example, imagine that you own four stocks.
You own ADMA Biologics (Nasdaq: ADMA), a small cap biotech with a 2.59 beta, and Cisco Systems (Nasdaq: CSCO), a networking giant …read more […]

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Boeing seeks to borrow $10 billion or more amid 737 MAX crisis: source

Boeing Co is in talks with banks about borrowing $10 billion or more amid rising costs for the U.S. planemaker after two crashes involving its 737 MAX jetliner, a source told Reuters on Monday. CNBC first reported the news on Monday, citing sources that Boeing has so far secured at least $6 billion from banks and is talking to other lenders for more contributions. A source confirmed the talks to Reuters, but it was still not clear how much Boeing would seek to raise and whether it would pursue the selling of new bonds. …read more […]