Anonymous Buffett-like bet on S&P 500 causes a stir on the options market

An anonymous trader caused a stir in the U.S. equity options market on Monday with a massive bet that recalled Warren Buffett’s famous wager on global stocks more than a decade ago. The trader sold 19,000 put options on the S&P 500 Index obligating him or her to buy the market benchmark at 2,100 on Dec. 18, 2020, data from New York-based options analytics firm Trade Alert showed. Buffett’s Berkshire Hathaway sold billions of dollars in stock index options between 2004 and 2008, betting that mark


An anonymous trader caused a stir in the U.S. equity options market on Monday with a massive bet that recalled Warren Buffett’s famous wager on global stocks more than a decade ago. The trader sold 19,000 put options on the S&P 500 Index obligating him or her to buy the market benchmark at 2,100 on Dec. 18, 2020, data from New York-based options analytics firm Trade Alert showed. Buffett’s Berkshire Hathaway sold billions of dollars in stock index options between 2004 and 2008, betting that mark
Anonymous Buffett-like bet on S&P 500 causes a stir on the options market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15
Keywords: news, cnbc, companies, 500, structured, bet, index, options, sold, stir, sp, causes, trade, market, trader, stocks, buffettlike, anonymous, contracts


Anonymous Buffett-like bet on S&P 500 causes a stir on the options market

An anonymous trader caused a stir in the U.S. equity options market on Monday with a massive bet that recalled Warren Buffett’s famous wager on global stocks more than a decade ago.

The trader sold 19,000 put options on the S&P 500 Index obligating him or her to buy the market benchmark at 2,100 on Dec. 18, 2020, data from New York-based options analytics firm Trade Alert showed.

As long as the index doesn’t drop more than 22 percent from its current level of 2,582 by that date, the bet will earn the trader roughly $175 million in premiums.

Buffett’s Berkshire Hathaway sold billions of dollars in stock index options between 2004 and 2008, betting that markets would rise over the next 15 to 20 years. Although the trades were made anonymously, they were eventually disclosed in regulatory filings.

Berkshire has taken in more than $4 billion in premiums on the options. The holding company has other contracts that have not expired, including a final tranche that will settle in 2026.

While Monday’s sale was nowhere near as large as Buffett’s, the trader could still lose more than half a billion dollars if stocks turn sour over the next couple of years.

For example, if the S&P 500 loses 34 percent of its value by Dec. 18, 2020, the trader will rack up a loss of about $558 million, according to a Refinitiv analysis.

The market has been volatile in recent months, with the S&P finishing 2018 nearly 20 percent lower than its record high in September, although it has recovered half that ground since.

Another lot of about 3,600 of the same puts traded on Monday, helping boost the total number of the contracts to about 24,000 on the day. Some 5,500 of the contracts also changed hands on Friday, according to Trade Alert data.

Some market participants guessed the trader was likely hedging against another position rather than betting outright that stocks will rise.

“The natural sellers of long-term downside puts are structured products desks at banks, who are hedging exposure they get from retail clients who buy structured notes that have embedded short put options,” Benn Eifert, chief investment officer at QVR Advisors in San Francisco, said on Twitter.

“That would be my default guess on this.”


Company: cnbc, Activity: cnbc, Date: 2019-01-15
Keywords: news, cnbc, companies, 500, structured, bet, index, options, sold, stir, sp, causes, trade, market, trader, stocks, buffettlike, anonymous, contracts


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‘I have been wrongly accused’: Read the full statement from Nissan’s Ghosn proclaiming his innocence

I am a U.S. dollar-based individual—my children live in the U.S. and I have strong ties to Lebanon, whose currency has a fixed exchange rate against the U.S. dollar. To deal with this issue, I entered into foreign exchange contracts throughout my tenure at Nissan, beginning in 2002. The other was signed in 2007, when the Nissan stock price was around 1400 yen and the yen/dollar exchange rate was around 114. Nissan is an iconic Japanese company that I care about deeply. I have been wrongly accuse


I am a U.S. dollar-based individual—my children live in the U.S. and I have strong ties to Lebanon, whose currency has a fixed exchange rate against the U.S. dollar. To deal with this issue, I entered into foreign exchange contracts throughout my tenure at Nissan, beginning in 2002. The other was signed in 2007, when the Nissan stock price was around 1400 yen and the yen/dollar exchange rate was around 114. Nissan is an iconic Japanese company that I care about deeply. I have been wrongly accuse
‘I have been wrongly accused’: Read the full statement from Nissan’s Ghosn proclaiming his innocence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: phil lebeau, tomohiro ohsumi, getty images news, getty images
Keywords: news, cnbc, companies, rate, nissans, yen, ghosn, read, accused, statement, wrongly, exchange, proclaiming, cars, contracts, juffali, detained, japanese, innocence, company, nissan


'I have been wrongly accused': Read the full statement from Nissan's Ghosn proclaiming his innocence

Former Nissan CEO Carlos Ghosn, who has spent the last 51 days detained in a Japanese jail, said Tuesday he is not guilty of financial misconduct.

“I have been wrongly accused and unfairly detained based on meritless and unsubstantiated accusations,” he said in his first comments public comments since he was detained on Nov. 19.

Ghosn’s appearance in court came at a hearing his lawyers requested to ask prosecutors to justify why the auto executive has not been granted bail.

In a lengthy statement Ghosn denied attempting to hide his compensation. Here are his full comments:

January 7, 2019

Statement of Carlos Ghosn

Your Honor,

I am grateful to finally have the opportunity to speak publicly. I look forward to beginning the process of defending myself against the accusations that have been made against me.

First, let me say that I have a genuine love and appreciation for Nissan. I believe strongly that in all of my efforts on behalf of the company, I have acted honorably, legally, and with the knowledge and approval of the appropriate executives inside the company—with the sole purpose of supporting and strengthening Nissan, and helping to restore its place as one of Japan’s finest and most respected companies.

Now I would like to address the allegations.

1.​The FX Forward contracts

When I first joined Nissan and moved to Japan almost 20 years ago, I wanted to be paid in U.S. dollars, but was told that that was not possible and was given an employment contract that required me to be paid in Japanese yen. I have long been concerned about the volatility of the yen relative to the U.S. dollar. I am a U.S. dollar-based individual—my children live in the U.S. and I have strong ties to Lebanon, whose currency has a fixed exchange rate against the U.S. dollar. I wanted predictability in my income in order to help me take care of my family.

To deal with this issue, I entered into foreign exchange contracts throughout my tenure at Nissan, beginning in 2002. Two such contracts are at issue in this proceeding. One was signed in 2006, when the Nissan stock price was around 1500 yen and the yen/dollar rate was around 118. The other was signed in 2007, when the Nissan stock price was around 1400 yen and the yen/dollar exchange rate was around 114.

The 2008–2009 financial crisis caused Nissan’s shares to plummet to 400 yen in October 2008 and to 250 yen in February 2009 (down more than 80% from its peak) and the yen/dollar exchange rate dropped below 80. It was a perfect storm that no one predicted. The entire banking system was frozen, and the bank asked for an immediate increase in my collateral on the contracts, which I could not satisfy on my own.

I was faced with two stark choices:

1. Resign from Nissan, so that I could receive my retirement allowance, which I could then use to provide the necessary collateral. But my moral commitment to Nissan would not allow me to step down during that crucial time; a captain doesn’t jump ship in the middle of a storm.

2. Ask Nissan to temporarily take on the collateral, so long as it came to no cost to the company, while I gathered collateral from my other sources.

I chose option 2. The FX contracts were then transferred back to me without Nissan incurring any loss.

2.​Khaled Juffali

Khaled Juffali has been a long-time supporter and partner of Nissan. During a very difficult period, Khaled Juffali Company helped Nissan solicit financing and helped Nissan solve a complicated problem involving a local distributor—indeed, Juffali helped Nissan restructure struggling distributors throughout the Gulf region, enablingNissan to better compete with rivals like Toyota, which was outperforming Nissan. Juffali also assisted Nissan in negotiating the development of a manufacturing plant in Saudi Arabia, organizing high-level meetings with Saudi officials.

Khaled Juffali Company was appropriately compensated—an amount disclosed to and approved by the appropriate officers at Nissan—in exchange for these critical services that substantially benefited Nissan.

3.​The FIEL Allegations

Four major companies sought to recruit me while I was CEO of Nissan, including Ford (by Bill Ford) and General Motors (by Steve Rattner, the then-Car Czar under President Barack Obama). Even though their proposals were very attractive, I could not in good conscience abandon Nissan while we were in the midst of ourturnaround. Nissan is an iconic Japanese company that I care about deeply. Although I chose not to pursue the other opportunities, I did keep a record of the market compensation for my role, which those companies offeredme if I had taken these jobs. This was an internal benchmark that I kept for my own future reference—it had no legal effect; it was never shared with the directors; and it never represented any kind of binding commitment. Infact, the various proposals for non-compete and advisory services post-retirement made by some members of the board did not reflect or reference my internal calculations, underscoring their hypothetical, non-binding nature.

Contrary to the accusations made by the prosecutors, I never received any compensation from Nissan that was not disclosed, nor did I ever enter into any binding contract with Nissan to be paid a fixed amount that was not disclosed. Moreover, I understood that any draft proposals for post-retirement compensation were reviewed by internal and external lawyers, showing I had no intent to violate the law. For me, the test is the “death test”: if I died today, could my heirs require Nissan to pay anything other than my retirement allowance? The answer is an unequivocal “No.”

4.​Contribution to Nissan

I have dedicated two decades of my life to reviving Nissan and building the Alliance. I worked toward these goals day and night, on the earth and in the air, standing shoulder to shoulder with hardworking Nissan employees around the globe, to create value. The fruits of our labors have been extraordinary. We transformed Nissan, moving it from a position of a debt of 2 trillion yen in 1999 to cash of 1.8 trillion yen at the end of 2006, from 2.5 million cars sold in 1999 at a significant loss to 5.8 million cars sold profitably in 2016. Nissan’s asset base tripled during the period. We saw the revival of icons like the Fairlady Z and Nissan G-TR; Nissan’s industrial entry into Wuhon, China, St. Petersburg, Russia, Chennai, India, and Resende, Brazil; the pioneering of a mass market for electric cars with the Leaf; the jumpstarting of autonomous cars; the introduction of Mitsubishi Motors to the Alliance; and the Alliance becoming the number one auto group in the world in 2017, producing more than 10 million cars annually. We created,directly and indirectly, countless jobs in Japan and reestablished Nissan as a pillar of the Japanese economy.

These accomplishments—secured alongside the peerless team of Nissan employees worldwide—are the greatest joy of my life, next to my family.

5.​Conclusion

Your Honor, I am an innocent of the accusations made against me. I have always acted with integrity and have never been accused of any wrongdoing in my several-decade professional career. I have been wrongly accused and unfairly detained based on meritless and unsubstantiated accusations.

Thank you, your Honor, for listening to me.


Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: phil lebeau, tomohiro ohsumi, getty images news, getty images
Keywords: news, cnbc, companies, rate, nissans, yen, ghosn, read, accused, statement, wrongly, exchange, proclaiming, cars, contracts, juffali, detained, japanese, innocence, company, nissan


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China December PMI: Manufacturing activity contracts more than expected

The Chinese National Bureau of Statistics said on Monday official manufacturing Purchasing Managers’ Index (PMI) was 49.4 — lower than the 49.9 analysts expected in a Reuters poll. That was worse than November’s official manufacturing PMI, which was 50.0. Meanwhile, China’s official non-manufacturing PMI came in at 53.8, which was higher than the reading of 53.4 in November. The services sector accounts for more than half of the Chinese economy and the “bright spot” of the improved on-month expa


The Chinese National Bureau of Statistics said on Monday official manufacturing Purchasing Managers’ Index (PMI) was 49.4 — lower than the 49.9 analysts expected in a Reuters poll. That was worse than November’s official manufacturing PMI, which was 50.0. Meanwhile, China’s official non-manufacturing PMI came in at 53.8, which was higher than the reading of 53.4 in November. The services sector accounts for more than half of the Chinese economy and the “bright spot” of the improved on-month expa
China December PMI: Manufacturing activity contracts more than expected Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-31  Authors: huileng tan
Keywords: news, cnbc, companies, china, activity, reading, official, chinese, expected, manufacturing, economy, pmi, trade, ongoing, month, contracts, sector


China December PMI: Manufacturing activity contracts more than expected

‘We need to see some stabilization in Chinese demand’ 4 Hours Ago | 02:46

Activity inChina’s manufacturing sector contracted for the first time in more than two years in the month of December amid a domestic economic slowdown and Beijing’s ongoing trade dispute with the U.S.

The Chinese National Bureau of Statistics said on Monday official manufacturing Purchasing Managers’ Index (PMI) was 49.4 — lower than the 49.9 analysts expected in a Reuters poll. The December reading was the weakest since February 2016, according to Reuters’ record.

That was worse than November’s official manufacturing PMI, which was 50.0. A reading above 50 indicates expansion, while a reading below that signals contraction.

In particular, new export orders contracted for a seventh straight month, with that measure falling to 46.6 from 47.0 in the previous month.

Meanwhile, China’s official non-manufacturing PMI came in at 53.8, which was higher than the reading of 53.4 in November.

The services sector accounts for more than half of the Chinese economy and the “bright spot” of the improved on-month expansion in December points to a rebalancing of the Chinese economy toward more consumption, Nomura economists wrote in a note on Monday.

Economic data from the world’s second-largest economy is being closely watched for signs of damage inflicted by the ongoing trade war between Washington and Beijing.


Company: cnbc, Activity: cnbc, Date: 2018-12-31  Authors: huileng tan
Keywords: news, cnbc, companies, china, activity, reading, official, chinese, expected, manufacturing, economy, pmi, trade, ongoing, month, contracts, sector


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AWS getting bigger upfront commitments from businesses

As Amazon’s cloud service continues to increase its market share, it’s also showing more signs of locking in customers into bigger and longer-term contracts. Those numbers show AWS customers making bigger upfront commitments, giving Amazon a more predictable revenue stream for future years, according to Jefferies analyst Brent Thill. “Bigger commitments mean we have more confidence in revenue as most customers won’t leave AWS once they commit.” But as AWS matured, and became more popular across


As Amazon’s cloud service continues to increase its market share, it’s also showing more signs of locking in customers into bigger and longer-term contracts. Those numbers show AWS customers making bigger upfront commitments, giving Amazon a more predictable revenue stream for future years, according to Jefferies analyst Brent Thill. “Bigger commitments mean we have more confidence in revenue as most customers won’t leave AWS once they commit.” But as AWS matured, and became more popular across
AWS getting bigger upfront commitments from businesses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-02  Authors: eugene kim
Keywords: news, cnbc, companies, customers, bigger, future, commitments, services, getting, revenue, businesses, contracts, upfront, partner, aws, growth


AWS getting bigger upfront commitments from businesses

As Amazon’s cloud service continues to increase its market share, it’s also showing more signs of locking in customers into bigger and longer-term contracts.

That trend was once again evident at Amazon Web Services’ annual re:Invent conference last week, where executives highlighted the growth in partner deal size. Partner deals typically represent multiyear contracts with bigger companies as they involve large-scale projects.

Terry Wise, vice president of global alliances and channels at AWS, said in his keynote that the total deal size brought in by partner sellers has increased 3.5 times compared with last year, while the rate of growth in partner-led contracts is far outpacing the growth of AWS’ overall business.

Those numbers show AWS customers making bigger upfront commitments, giving Amazon a more predictable revenue stream for future years, according to Jefferies analyst Brent Thill.

“It suggests customers are doing ‘cannonballs’ into the pool versus just dipping their toe in,” Thill told CNBC. “Bigger commitments mean we have more confidence in revenue as most customers won’t leave AWS once they commit.”

AWS became popular with its pay-as-you-go model, which helped draw many start-ups because it only charged for the amount of computing power they used. But as AWS matured, and became more popular across businesses of all sizes, multiyear contracts with upfront commitments, typically preferred by corporate clients, have come to account for a larger share of its revenue.

Perhaps that explains why AWS started disclosing “performance obligations” this year, which it defines as future revenue “associated with commitments in customer contracts for future services that have not yet been recognized.” In its most recent quarter, that amount grew to $17.8 billion, up from $16 billion in the second quarter and $12.4 billion in the first quarter.

It also added a line about such deal structures in its latest earnings filing, saying AWS offers certain services that are “offered as a fixed quantity over a specified term, for which revenue is recognized ratably.”


Company: cnbc, Activity: cnbc, Date: 2018-12-02  Authors: eugene kim
Keywords: news, cnbc, companies, customers, bigger, future, commitments, services, getting, revenue, businesses, contracts, upfront, partner, aws, growth


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NASA picks 9 companies to compete for lunar transportation contracts

The National Aeronautics and Space Administration selected nine space companies on Thursday to compete for $2.6 billion in contracts developing technologies to reach and explore the moon. NASA picked Lockheed Martin, Astrobotic, Firefly Aerospace, Masten Space Systems, Moon Express, Draper, Intuitive Machines, Deep Space Systems and Orbit Beyond. The Commercial Lunar Payload Services program (also known as CLPS) builds upon the Space Policy Directive 1, signed by President Donald Trump last Dece


The National Aeronautics and Space Administration selected nine space companies on Thursday to compete for $2.6 billion in contracts developing technologies to reach and explore the moon. NASA picked Lockheed Martin, Astrobotic, Firefly Aerospace, Masten Space Systems, Moon Express, Draper, Intuitive Machines, Deep Space Systems and Orbit Beyond. The Commercial Lunar Payload Services program (also known as CLPS) builds upon the Space Policy Directive 1, signed by President Donald Trump last Dece
NASA picks 9 companies to compete for lunar transportation contracts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: michael sheetz, rendering courtesy lockheed martin
Keywords: news, cnbc, companies, contracts, agency, compete, picks, companies, space, directive, nasa, transportation, systems, nasas, moon, lunar


NASA picks 9 companies to compete for lunar transportation contracts

The National Aeronautics and Space Administration selected nine space companies on Thursday to compete for $2.6 billion in contracts developing technologies to reach and explore the moon.

NASA picked Lockheed Martin, Astrobotic, Firefly Aerospace, Masten Space Systems, Moon Express, Draper, Intuitive Machines, Deep Space Systems and Orbit Beyond. The agency narrowed the field down to those nine, after receiving interest from more than 30 companies, including SpaceX, Blue Origin and Sierra Nevada Corp.

“We’re doing something that’s never been done before,” NASA Administrator Jim Bridenstine said at the agency’s announcement on Thursday afternoon. “When we go to the moon, we want to be one customer of many customers in a robust marketplace between the Earth and the moon.”

The Commercial Lunar Payload Services program (also known as CLPS) builds upon the Space Policy Directive 1, signed by President Donald Trump last December. The directive called for NASA to return to the moon, directing the agency to send Americans to the lunar surface in preparation for trips to Mars.

Under CLPS, the agency will award multiple contracts for lunar missions over the next 10 years. Companies were only considered if they agreed to deliver the first mission by the end of 2021, according to NASA’s request for bids earlier this year.

WATCH: This Brooklyn startup wants to make spacesuits at a fraction of NASA’s cost


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: michael sheetz, rendering courtesy lockheed martin
Keywords: news, cnbc, companies, contracts, agency, compete, picks, companies, space, directive, nasa, transportation, systems, nasas, moon, lunar


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Japan’s economy contracts as natural disasters and trade frictions hit hard

Japan’s economy contracted in the third quarter, hit by natural disasters and a decline in exports, a worrying sign that trade protectionism is starting to take its toll on overseas demand. The 1.2 percent annualized contraction in July-September was more than the median estimate for 1.0 percent growth in annual terms. “Japan’s economy is expected to recover driven mainly by domestic demand,” Japanese Economy Minister Toshimitsu Motegi said in a statement issued after the data release. “The decl


Japan’s economy contracted in the third quarter, hit by natural disasters and a decline in exports, a worrying sign that trade protectionism is starting to take its toll on overseas demand. The 1.2 percent annualized contraction in July-September was more than the median estimate for 1.0 percent growth in annual terms. “Japan’s economy is expected to recover driven mainly by domestic demand,” Japanese Economy Minister Toshimitsu Motegi said in a statement issued after the data release. “The decl
Japan’s economy contracts as natural disasters and trade frictions hit hard Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: smith collection, gado, getty images
Keywords: news, cnbc, companies, estimate, median, growth, japans, trade, natural, hard, disasters, contracts, exports, fell, followed, hit, economy, decline, frictions


Japan's economy contracts as natural disasters and trade frictions hit hard

Japan’s economy contracted in the third quarter, hit by natural disasters and a decline in exports, a worrying sign that trade protectionism is starting to take its toll on overseas demand.

The 1.2 percent annualized contraction in July-September was more than the median estimate for 1.0 percent growth in annual terms. It followed a robust 3.0 percent annualized growth in the previous quarter.

A decline in domestic demand was the biggest reason the economy shrank as strong typhoons and a powerful earthquake halted factories and stifled consumption, although economists say this disruption was temporary and the decline in exports is more worrying.

External demand — or exports minus imports — shaved 0.1 percentage point off gross domestic product. This matched the median estimate, but a breakdown of the data showed exports fell 1.8 percent quarter-on-quarter, the fastest decline in more than three years.

Japan’s economy is likely to resume growth in the current quarter, but falling exports suggest this recovery could be hampered by trade protectionism, which could increase pressure on policymakers to turn to fiscal stimulus.

“Japan’s economy is expected to recover driven mainly by domestic demand,” Japanese Economy Minister Toshimitsu Motegi said in a statement issued after the data release.

“IT-related exports to Asia have been slowing from around spring, so we need to be mindful of the impact trade frictions and China’s growth outlook could be having on Japan’s economy,” he said.

Cabinet Office data showed GDP fell 0.3 percent versus the previous quarter, which matched the median estimate and followed an upwardly revised 0.8 percent increase in April-June.

Private consumption, which accounts for about 60 percent of GDP, fell 0.1 percent July-September. That was less than the median estimate for a 0.2 percent decline and followed a 0.7 increase in the previous quarter.

Capital expenditure fell 0.2 percent, the first decline in two years. The median estimate was for capital expenditure to remain unchanged. Capex rose 3.1 percent in April-June.

In September a large earthquake triggered a blackout in the northern island of Hokkaido, which followed severe typhoons that damaged airports and transport infrastructure in western Japan.

Businesses were quick to resume normal operations, so the negative impact of these disasters will be short-lived, economists say.

A trade war between the United States and China, the world’s two largest economies, is the bigger concern because it threatens Japan’s exports of car parts, electronics, and heavy machinery, economists say.

“The decline in exports cannot be attributed entirely to the natural disasters,” said Hiroaki Muto, economist at Tokai Tokyo Research Center.

“Excluding natural disasters, exports to China are slowing. The message is China’s economy is weakening, which means Japan’s exports will be slow to recover and growth will stall around the first half of next year.”

Prime Minister Shinzo Abe on Monday ordered government ministers to compile a new public works spending package partly due to concerns about a slowdown in global demand, a common response from Liberal Democratic Party governments to downturns.

Policymakers are also worried that a nationwide sales tax hike scheduled for October next year poses another downside risk to the economy, which makes fiscal spending a more likely option to prop up growth.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: smith collection, gado, getty images
Keywords: news, cnbc, companies, estimate, median, growth, japans, trade, natural, hard, disasters, contracts, exports, fell, followed, hit, economy, decline, frictions


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Gold prices hold steady amid easing dollar

Spot gold was steady at $1,232.86 per ounce, as of 0126 GMT. U.S. gold futures was up 0.1 percent at $1,234.6 per ounce. The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 percent. In equities, MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent in early trades amid worries about tense Sino-U.S. trade relations. SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.23 percent t


Spot gold was steady at $1,232.86 per ounce, as of 0126 GMT. U.S. gold futures was up 0.1 percent at $1,234.6 per ounce. The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 percent. In equities, MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent in early trades amid worries about tense Sino-U.S. trade relations. SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.23 percent t
Gold prices hold steady amid easing dollar Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: edgar su
Keywords: news, cnbc, companies, deal, dollar, market, largest, easing, steady, futures, tonnes, contracts, prices, gold, week, index, trade, hold, amid


Gold prices hold steady amid easing dollar

Spot gold was steady at $1,232.86 per ounce, as of 0126 GMT.

U.S. gold futures was up 0.1 percent at $1,234.6 per ounce.

The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 percent.

In equities, MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent in early trades amid worries about tense Sino-U.S. trade relations.

Investors are now focused on the U.S. congressional elections on Nov. 6, which will determine whether the Republican or Democratic party controls Congress, with some predicting increased market volatility on the outcome.

U.S. job growth rebounded sharply in October and wages recorded their largest annual gain in 9-1/2 years, pointing to further labor market tightening that could encourage the Federal Reserve to raise interest rates again in December.

The U.S. and China are not close to a deal to resolve their trade differences, the White House’s top economic adviser said on Friday, adding that he was less optimistic than previously that such an agreement would come together.

British Prime Minister Theresa May’s office has dismissed as “speculation” a newspaper report that suggests an all-UK customs deal will be written into the legally binding agreement governing Britain’s withdrawal from the EU.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.23 percent to 759.06 tonnes on Friday from 760.82 tonnes on Thursday.

Hedge funds and money managers raised their net short position in gold by 18,723 contracts to 45,622 contracts, according to U.S. Commodity Futures Trading Commission data on Friday. This was the highest in three weeks.

Physical gold demand in India was lacklustre last week, with dealers offering discounts for the metal ahead of a traditionally busy festival week for the first time in at least three years, as high prices kept consumers away.

Barrick Gold shareholders have voted overwhelmingly in favor of the Canadian miner’s $6.1 billion acquisition of Africa-focused Randgold Resources, three people familiar with the preliminary vote count told Reuters on Friday.


Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: edgar su
Keywords: news, cnbc, companies, deal, dollar, market, largest, easing, steady, futures, tonnes, contracts, prices, gold, week, index, trade, hold, amid


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Gold inches up on easing dollar, global concerns

Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions and slowing global economic growth lent support to the metal. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau. Gold is seen as a safe store of value during political and economic uncertainty. “Supportive price action around $1,210-$1,220 should restrict declines amid current global political


Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions and slowing global economic growth lent support to the metal. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau. Gold is seen as a safe store of value during political and economic uncertainty. “Supportive price action around $1,210-$1,220 should restrict declines amid current global political
Gold inches up on easing dollar, global concerns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22
Keywords: news, cnbc, companies, economic, week, gold, easing, concerns, support, political, inches, contracts, tensions, global, ounce, oct, dollar


Gold inches up on easing dollar, global concerns

Gold prices edged higher on Monday towards a 2-1/2-month peak hit last week as the dollar eased and worries over rising political tensions and slowing global economic growth lent support to the metal.

Spot gold was up 0.1 percent at $1,226.43 an ounce at 0745 GMT. On Oct. 15, the bullion touched its highest since July 26 at $1,233.26.

U.S. gold futures were up 0.1 percent at $1,229.40 an ounce.

“So far we are seeing a good recipe for gold prices to recover. One is global economic slowdown, another is geopolitical uncertainties,” said Argonaut Securities analyst Helen Lau. “If the tensions loom large we could see gold rebound through 1,300.”

The outlook for global growth in 2019 has dimmed for the first time, according to Reuters polls of economists who said the U.S.-China trade war and tightening financial conditions would trigger the next downturn.

Geo-political concerns including tensions between Saudi Arabia and the West over the killing of journalist Jamal Khashoggi, developments related to Brexit, and Italy’s budget woes are keeping investors interested in gold, analysts said.

Gold is seen as a safe store of value during political and economic uncertainty.

“Trade concerns between the U.S. and China remain elevated and the ongoing U.S.-Saudi tensions are likely to continue to underpin a bid tone for bullion over the near-term,” MKS PAMP Group traders said in a note.

“Supportive price action around $1,210-$1,220 should restrict declines amid current global political uncertainty, while a test through $1,230-$1,235 will likely squeeze further shorts out of the market and see gold toward $1,250.”

Gold speculators cut their net short position in COMEX gold contracts by 65,637 contracts to 37,372 contracts, the smallest since late July, in the week to Oct. 16, data showed.

Spot gold may either consolidate further below a resistance at $1,235 per ounce, or break a support at $1,217, to fall to the next support at $1,208, according to Reuters technical analyst Wang Tao.

Holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, fell 0.39 percent to 745.82 tonnes on Friday.

The U.S. dollar, which measures the greenback against a basket of six major currencies, was down 0.2 percent.

Among other precious metals, silver was up 0.4 percent at $14.65 per ounce, while platinum rose 0.8 percent at $836.20 per ounce.

Palladium climbed 0.9 percent to $1,089.80 per ounce, closer to an over eight-month peak of $1,096.80 hit on Oct. 11.


Company: cnbc, Activity: cnbc, Date: 2018-10-22
Keywords: news, cnbc, companies, economic, week, gold, easing, concerns, support, political, inches, contracts, tensions, global, ounce, oct, dollar


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Here’s why MLB stars land the best pro contracts

Baseball has been touted as America’s favorite pastime. But as of 2017, baseball hit its lowest popularity level ever. It ranks third behind football and basketball. Though the sport has lost followers, MLB players tend to land the best contracts among pro athletes. Watch the video above to see why MLB players make more than other pros.


Baseball has been touted as America’s favorite pastime. But as of 2017, baseball hit its lowest popularity level ever. It ranks third behind football and basketball. Though the sport has lost followers, MLB players tend to land the best contracts among pro athletes. Watch the video above to see why MLB players make more than other pros.
Here’s why MLB stars land the best pro contracts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: darren geeter
Keywords: news, cnbc, companies, contracts, baseball, tend, mlb, heres, watch, touted, land, pro, best, video, stars, players, sport, ranks, pros


Here's why MLB stars land the best pro contracts

Baseball has been touted as America’s favorite pastime. But as of 2017, baseball hit its lowest popularity level ever. It ranks third behind football and basketball. Though the sport has lost followers, MLB players tend to land the best contracts among pro athletes. Watch the video above to see why MLB players make more than other pros.


Company: cnbc, Activity: cnbc, Date: 2018-10-22  Authors: darren geeter
Keywords: news, cnbc, companies, contracts, baseball, tend, mlb, heres, watch, touted, land, pro, best, video, stars, players, sport, ranks, pros


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Gold rises as falling markets burnish appeal

Gold prices rose on Monday as Asian shares resumed their fall and investors grappled with the impact of the ongoing Sino-U.S. trade war and higher U.S. interest rates. When stock markets are not stable, there is some safe haven buying,” said Ronald Leung, chief dealer, Lee Cheong Gold Dealers, Hong Kong. Gold remains down by more than 10 percent from its April peak, pressured by a strong dollar as the U.S.-China trade war unfolds and higher U.S. interest rates. Gold speculators extended their ne


Gold prices rose on Monday as Asian shares resumed their fall and investors grappled with the impact of the ongoing Sino-U.S. trade war and higher U.S. interest rates. When stock markets are not stable, there is some safe haven buying,” said Ronald Leung, chief dealer, Lee Cheong Gold Dealers, Hong Kong. Gold remains down by more than 10 percent from its April peak, pressured by a strong dollar as the U.S.-China trade war unfolds and higher U.S. interest rates. Gold speculators extended their ne
Gold rises as falling markets burnish appeal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15
Keywords: news, cnbc, companies, stock, appeal, expected, falling, war, interest, contracts, gold, shares, rose, rises, trade, burnish, markets


Gold rises as falling markets burnish appeal

Gold prices rose on Monday as Asian shares resumed their fall and investors grappled with the impact of the ongoing Sino-U.S. trade war and higher U.S. interest rates.

Spot gold was up 0.4 percent at $1,222.0 an ounce at 0417 GMT, and not far off last week’s two-month high of $1,226.70.

U.S. gold futures were up 0.2 percent at $1,225.60 an ounce.

“Gold is closely following the stock market. When stock markets are not stable, there is some safe haven buying,” said Ronald Leung, chief dealer, Lee Cheong Gold Dealers, Hong Kong.

“There are many uncertainties ahead for equities including the ongoing trade war, upcoming mid-term elections in the U.S., along with an expected interest rate hike in December … We will have to see how gold reacts to these.”

Asian shares slipped on Monday, with MSCI’s broadest index of Asia-Pacific shares outside Japan down 1 percent.

“Gold is more appealing after the stock market crash. It has regained some of its safe haven lure,” said Brian Lan, managing director at Singapore dealer GoldSilver Central.

A sell-off in equities last week, helped gold break above the narrow trading range of the past 1-1/2 months, with the metal jumping as much as 2.5 percent on Thursday, its biggest one-day percentage gain in more than two years.

“Gold remains supported by escalating geopolitical tensions… Adding to the mix is the thought the FOMC may consider pausing their widely expected rate hike in December if global equity markets continue to falter,” said Stephen Innes, APAC trading head at OANDA in Singapore.

“An abrupt shift in Fed policy will likely lead to a lack of confidence in the world’s most important central bank and could destabilize markets further.”

The Fed hiked rates last month for the third time this year and is expected to raise them again in December.

Gold remains down by more than 10 percent from its April peak, pressured by a strong dollar as the U.S.-China trade war unfolds and higher U.S. interest rates.

China faced “tremendous uncertainties” due to the impact of tariffs and trade frictions, China central bank governor Yi Gang said on Sunday.

Gold speculators extended their net short position on Comex gold contracts by 29,881 contracts to 103,009 contracts in the week to Oct. 9, data showed.

Spot gold may edge up to $1,235 per ounce, as suggested by a Fibonacci ratio analysis, according to Reuters technical analyst Wang Tao.

Meanwhile, holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.76 percent to 744.64 tonnes on Friday.

In other precious metals, palladium rose 0.5 percent to $1,071.10. Silver was up 0.6 percent at $14.63 and platinum gained 0.5 percent to $840.50.


Company: cnbc, Activity: cnbc, Date: 2018-10-15
Keywords: news, cnbc, companies, stock, appeal, expected, falling, war, interest, contracts, gold, shares, rose, rises, trade, burnish, markets


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