Trading Ideas

A plunge in the Turkish lira rocked global equities and emerging markets on Friday and fears of more turmoil sent investors scurrying for safety in assets like the yen and U.S. government bonds. The lira fell as much as 14 percent against the dollar, chalking up its worst day since Turkey’s financial crisis of 2001. Bank shares across the continent fell and the euro slipped to its lowest since July 2017 as the Financial Times quoted sources as saying the European Central Bank was concerned about European lenders’ exposure to Turkey. …read more […]

Investors dumped euro zone bank shares on Friday on concerns about their exposure to Turkey as the lira fell to yet another record low with a defiant government showing few signs it is ready to take decisive steps to stabilise the currency. A widening rift with the United States, its main NATO ally, and President Tayyip Erdogan’s grip on monetary policy under a new powerful executive presidency have helped to drive the lira down by more than 40 percent this year, a particular vulnerability for Turkish banks as over a third of their lending is in foreign currencies. …read more […]

Tesla’s board is reportedly talking about Elon Musk’s proposal to go private, but say they haven’t gotten any details on the deal. Yahoo Finance’s Alexis Christoforous and Rick Newman have more. …read more […]

President Donald Trump doubled tariffs on aluminum and steel imports from Turkey, deepening the currency’s losses and raising concerns that the crisis could weigh on other economies. “Problems in emerging markets are more important than ever because of the global growth engine that emerging markets have become,” Peter Cecchini, chief market strategist at Cantor Fitzgerald in New York, wrote in a note. Anytime there’s a sniff of contagion they will be weak,” said Michael Antonelli, managing director, institutional sales trading at Robert W. Baird in Milwaukee. …read more […]

U.S. President Donald Trump said on Friday he had authorized higher tariffs on imports from Turkey, imposing a 20 percent duty on aluminum and 50 percent one on steel, as tensions mount between the two NATO allies over Ankara’s detention of an evangelical pastor and other diplomatic issues. “I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar!” Trump said in an early morning post on Twitter. Trump’s announcement came less than an hour after Turkish President Tayyip …read more […]

The Turkish lira fell as much as 20% versus the dollar Friday. Trump said he would double the steel and aluminum tariff rate for Turkey. President Recep Tayyip Erdogan called on citizens to convert other currencies and gold into lira. …read more […]

Ralph Lauren, Wynn Resorts, Chemours, Pulte, Michaels, General Motors and General Electric highlighted as Zacks Bull and Bear of the Day …read more […]

Costco continues to fire on all cylinders, but the stock may be too hot to handle right now. …read more […]

Financial concerns are rising involving Turkey and Russia. …read more […]

Ford Motor Co (F.N) on Friday said its sales in China fell 32 percent in July from a year earlier to 57,662 vehicles, as the U.S. carmaker continued to suffer from a lack of fresh models in the world’s largest auto market. The latest figure followed a 38 percent tumble in June, leading to the automaker’s worst-ever first-half year in China since starting operations in the country in 2001. For January-July, Ford’s China sales dropped 26 percent versus the same period a year earlier to 458,105 vehicles. …read more […]

TAIPEI/SAN FRANCISCO (Reuters) – Mobile chipmaker Qualcomm Inc (QCOM.O) will settle an anti-trust case with Taiwanese regulators for about $93 million, and has also pledged to invest $700 million in Taiwan over the next five years. The settlement replaces a fine of roughly $778 million imposed by Taiwan’s Fair Trade Commission in 2017, when it accused the U.S. firm of refusing to sell chips to mobile handset makers that wouldn’t agree to its patent-licensing terms. It was also accused of cutting iPhone maker Apple Inc (AAPL.O) a royalty discount in exchange for the exclusive use of Qualcomm’s modem …read more […]

Qualcomm Inc., the smartphone chipmaker fighting regulatory actions and lawsuits threatening its most profitable business, has reached a settlement with Taiwan’s antitrust regulators that reverses most of a $773 million fine. As part of an agreement announced Friday by the Fair Trade Commission, the company will invest $700 million over the next five years and boost research activities in Taiwan, home to a clutch of important suppliers to global names such as Apple Inc. In return, Qualcomm can stop paying fines and retains the right to charge manufacturers royalties on its technology. The commission said Friday it will …read more […]

A severely disabled Georgia boy who authorities say was kidnapped by his father and marked for an exorcism was found buried at the ramshackle compound in the New Mexico desert that has been the focus of investigators for the past week, the toddler’s grandfather said Thursday. New Mexico authorities, however, said they had yet to identify the remains, discovered Monday. Prosecutors said he was snatched from his mother in December in Jonesboro, Georgia, near Atlanta. …read more […]

NVIDIA has fallen behind in the race to develop autonomous cars, but a new strategy could help it turn around. …read more […]

While Tesla’s board has held multiple discussions about Musk’s proposal, which first became public on Tuesday, it has not yet received specific information on who will provide the funding, one of the sources said. Tesla declined to comment. Musk, a 47-year-old investor and engineer, stunned financial markets on Tuesday, when he revealed on Twitter he was considering a take-private deal for Tesla, an auto manufacturing pioneer that developed the world’s first ever premium all-electric sedan car. …read more […]