Procter & Gamble stock falls on sales miss; company raises forecast

Procter & Gamble on Thursday reported quarterly revenue that fell short of estimates as its baby segment, which includes Pampers diapers, struggled. The company also raised its fiscal 2020 forecast. Shares of the company fell 1% in premarket trading. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Earnings per share: $1.42, adjusted, vs. $1.37 expectedRevenue: $18.24 billion vs. $18.37 billion expectedP&G reported fiscal s


Procter & Gamble on Thursday reported quarterly revenue that fell short of estimates as its baby segment, which includes Pampers diapers, struggled.
The company also raised its fiscal 2020 forecast.
Shares of the company fell 1% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Earnings per share: $1.42, adjusted, vs. $1.37 expectedRevenue: $18.24 billion vs. $18.37 billion expectedP&G reported fiscal s
Procter & Gamble stock falls on sales miss; company raises forecast Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: amelia lucas
Keywords: news, cnbc, companies, share, analysts, forecast, billion, reported, fiscal, sales, 142, gamble, procter, stock, 137, falls, fell, miss, raises, company


Procter & Gamble stock falls on sales miss; company raises forecast

Procter & Gamble on Thursday reported quarterly revenue that fell short of estimates as its baby segment, which includes Pampers diapers, struggled.

The company also raised its fiscal 2020 forecast.

Shares of the company fell 1% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: $1.42, adjusted, vs. $1.37 expected

Revenue: $18.24 billion vs. $18.37 billion expected

P&G reported fiscal second-quarter net income of $3.72 billion, or $1.41 per share, up from $3.19 billion, or $1.22 per share, a year earlier.

Excluding items, the consumer giant earned $1.42 per share, topping the $1.37 per share expected by analysts surveyed by Refinitiv.


Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: amelia lucas
Keywords: news, cnbc, companies, share, analysts, forecast, billion, reported, fiscal, sales, 142, gamble, procter, stock, 137, falls, fell, miss, raises, company


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Oil falls nearly 3% as over-supply concerns weigh

Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and demand worries outweighed concern over disruptions to Libya’s crude output. “China’s coronavirus will likely see travel restrictions that could end up hurting demand for crude during a peak travel time in China.” “Demand concerns over a potential epidemic will counter concerns around supply disruptions in Libya, Iran and Iraq, driving spot price volatility in coming weeks,” Goldman


Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and demand worries outweighed concern over disruptions to Libya’s crude output.
“China’s coronavirus will likely see travel restrictions that could end up hurting demand for crude during a peak travel time in China.”
“Demand concerns over a potential epidemic will counter concerns around supply disruptions in Libya, Iran and Iraq, driving spot price volatility in coming weeks,” Goldman
Oil falls nearly 3% as over-supply concerns weigh Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22
Keywords: news, cnbc, companies, concerns, prices, libyas, oversupply, weigh, likely, week, falls, crude, energy, travel, oil, nearly, market, impact


Oil falls nearly 3% as over-supply concerns weigh

Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and demand worries outweighed concern over disruptions to Libya’s crude output.

Brent crude was down $1.39, or 2.2%, at $63.20 per barrel. U.S. West Texas Intermediate crude fell 2.8%, or $1.64, to settle at $56.74 per barrel.

The head of the IEA, Fatih Birol, said he expects the market to be in surplus by 1 million barrels per day (bpd) in the first half of this year.

“Oil prices remain heavy on oversupply concerns and after the Saudi Energy Minister Price Abdulaziz did not offer any hints of optimism that the OPEC+ production cuts would be extended beyond March,” said Edward Moya, senior market analyst at OANDA in New York.

“China’s coronavirus will likely see travel restrictions that could end up hurting demand for crude during a peak travel time in China.”

Markets are also focusing on the emergence from China of a new coronavirus just ahead of the Lunar New Year holidays this weekend and the possible impact a pandemic might have on global economic growth.

Should the virus develop dramatically and hit travel and growth, demand for oil could fall by 260,000 bpd, Goldman Sachs said in a note.

“Demand concerns over a potential epidemic will counter concerns around supply disruptions in Libya, Iran and Iraq, driving spot price volatility in coming weeks,” Goldman said, though the “impact on oil fundamentals remains limited so far”.

Oil prices have been marginally supported after Libya’s National Oil Corp on Monday declared force majeure on the loading of oil from two major oilfields after the latest development in a long-running military conflict.

Unless oil facilities return to operation quickly, OPEC member Libya’s crude output will be reduced to about 72,000 bpd from about 1.2 million bpd.

“The Libyan pipeline blockade continued to have a muted impact on sentiment … There is a consensus that the disruption will prove short-lived,” said Stephen Brennock of oil broker PVM.

Meanwhile, Brazil’s energy minister, Bento Albuquerque, said the country will start talks about joining the Organization of the Petroleum Exporting Countries during a visit to Saudi Arabia in July.

Supply is likely to continue to rise, with U.S. crude production in large shale deposits expected to rise to record highs in February, though the pace of increase is likely to be the lowest in about year, the U.S. Energy Information Administration (EIA) said on Tuesday.

U.S. crude inventories were likely to have fallen for a second week last week, a Reuters poll showed, but gasoline stocks are expected to have risen for an 11th week in a row.

Weekly U.S. energy reports have been delayed a day in observance of the Martin Luther King Jr. Day holiday on Monday. The American Petroleum Institute is scheduled to release its report at 4:30 p.m. on Wednesday, followed by official data at 11 a.m. on Thursday.


Company: cnbc, Activity: cnbc, Date: 2020-01-22
Keywords: news, cnbc, companies, concerns, prices, libyas, oversupply, weigh, likely, week, falls, crude, energy, travel, oil, nearly, market, impact


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Oil falls slightly amid Libya oil crisis

Libya has been producing about 1.2 million bpd recently. Anti-government unrest in Iraq, another major oil producer, also supported oil prices initially, but officials later said output from southern oilfields has been unaffected by the unrest. ING said that spare OPEC capacity, which stands in excess of 3 million bpd, was reassuring the market. Barclays on Tuesday forecast 2020 oil demand to rise by 1.4 million bpd, 50,000 bpd higher than its previous forecast and up from growth of 900,000 bpd


Libya has been producing about 1.2 million bpd recently.
Anti-government unrest in Iraq, another major oil producer, also supported oil prices initially, but officials later said output from southern oilfields has been unaffected by the unrest.
ING said that spare OPEC capacity, which stands in excess of 3 million bpd, was reassuring the market.
Barclays on Tuesday forecast 2020 oil demand to rise by 1.4 million bpd, 50,000 bpd higher than its previous forecast and up from growth of 900,000 bpd
Oil falls slightly amid Libya oil crisis Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20
Keywords: news, cnbc, companies, million, slightly, prices, crisis, output, growth, 2020, falls, disruptions, amid, crude, west, oil, libya, bpd


Oil falls slightly amid Libya oil crisis

An Iraqi worker gauges gas emissions from an oil pipe at the Daura oil refiner

Oil prices dipped on Tuesday on expectations that a well-supplied market would be able to absorb disruptions that have cut Libya’s crude production to a trickle.

Brent crude was down 65 cents at $64.55 a barrel, having hit a session low of $64.06. U.S. West Texas Intermediate crude settled down 20 cents at $58.34, after hitting a low of $57.68 earlier in the day.

“Market participants appear to fret less about supply disruptions in the Middle East, or at least the risk of disruptions, thanks to the impressive growth we have seen in U.S. output over recent years,” Bank ING said.

Almost all of Libya’s crude export capacity is now under force majeure – a waiver on contractual obligations – after pipeline blockades in the east and west of the country hindered oil production.

If Libyan exports are halted for any sustained period, storage tanks will fill within days and production will slow to 72,000 barrels per day (bpd), said a spokesman for state oil company NOC. Libya has been producing about 1.2 million bpd recently.

Anti-government unrest in Iraq, another major oil producer, also supported oil prices initially, but officials later said output from southern oilfields has been unaffected by the unrest.

Any supply disruptions could be offset by increased output from the Organization of the Petroleum Exporting Countries (OPEC), which could limit the impact on global oil markets, the head of Japan’s petroleum industry body said.

ING said that spare OPEC capacity, which stands in excess of 3 million bpd, was reassuring the market. The International Monetary Fund (IMF) on Monday trimmed back its 2020 global economic growth forecasts by a tenth of a percentage point to 3.3% because of sharper than expected slowdowns in India and other emerging markets. But the IMF said that a U.S.-China trade deal was another sign that trade and manufacturing activity could soon bottom out.

Barclays on Tuesday forecast 2020 oil demand to rise by 1.4 million bpd, 50,000 bpd higher than its previous forecast and up from growth of 900,000 bpd in 2019.

The bank maintained its 2020 forecasts for Brent and West Texas Intermediate (WTI) prices at $62 and $57 a barrel respectively.


Company: cnbc, Activity: cnbc, Date: 2020-01-20
Keywords: news, cnbc, companies, million, slightly, prices, crisis, output, growth, 2020, falls, disruptions, amid, crude, west, oil, libya, bpd


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Gold falls after hitting 2-week high but stays above $1,550

The precious metal pared losses and climbed back up above the $1,550 level, buoyed by a low interest-rate environment and lingering geopolitical tensions. Spot gold was down 0.2% at $1,557.90 per ounce, after hitting its highest since Jan. 8 at $1,568.35 in early trading. On Jan. 8, gold pierced the $1,600 ceiling for the first time in nearly seven years on escalating tensions between the United States and Iran. Global Investors, adding gold will be supported by the U.S. Federal Reserve keeping


The precious metal pared losses and climbed back up above the $1,550 level, buoyed by a low interest-rate environment and lingering geopolitical tensions.
Spot gold was down 0.2% at $1,557.90 per ounce, after hitting its highest since Jan. 8 at $1,568.35 in early trading.
On Jan. 8, gold pierced the $1,600 ceiling for the first time in nearly seven years on escalating tensions between the United States and Iran.
Global Investors, adding gold will be supported by the U.S. Federal Reserve keeping
Gold falls after hitting 2-week high but stays above $1,550 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20
Keywords: news, cnbc, companies, losses, hitting, fell, gold, ounce, rates, likely, 2week, jan, high, falls, 1550, investors, level, melek, stays


Gold falls after hitting 2-week high but stays above $1,550

Gold shed 1% on Tuesday in volatile trade as investors booked profits after prices hit a two-week high early in the session, although losses were limited by a slide in equities due to worries about a virus outbreak in China.

The precious metal pared losses and climbed back up above the $1,550 level, buoyed by a low interest-rate environment and lingering geopolitical tensions.

Spot gold was down 0.2% at $1,557.90 per ounce, after hitting its highest since Jan. 8 at $1,568.35 in early trading. U.S. gold futures fell 0.14% to $1,558.1.

“We’ve had a fairly decent period of performance for gold and we’re giving back some of that,” said Bart Melek, head of commodity strategies at TD Securities, adding gold is likely to hold in a fairly tight range around the $1,550 level for the time being.

“I’ve not heard of any news that would suggest that this (gold’s decline) is some sort of a structural, permanent fundamental set of developments. This is more of an adjustment towards the downside due to technical reasons.”

Safe-haven bullion drew some support as global stock markets slid on mounting concern about a new strain of coronavirus in China. Bullion is up more than 6% since Dec. 6. On Jan. 8, gold pierced the $1,600 ceiling for the first time in nearly seven years on escalating tensions between the United States and Iran.

“The bullish structure in gold has not changed yet. It has to break below $1,450 to change that trend,” said Michael Matousek, head trader at U.S. Global Investors, adding gold will be supported by the U.S. Federal Reserve keeping interest rates steady and increased buying by central banks.

Focus is now likely to turn to the Fed as it meets for its first policy meeting of the year on Jan. 28-29. Higher interest rates lift the opportunity cost of holding non-yielding bullion.

Elsewhere, palladium fell 4.5% to $2,387, after hitting a record high on Monday, marking its largest daily percentage fall since Aug. 2018.

“Palladium is taking a bit of a pause here as risk appetite dries up,” Melek said.

Silver fell 1.2% to $17.85, while platinum dropped 1.1% to $1,004.52 per ounce.


Company: cnbc, Activity: cnbc, Date: 2020-01-20
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Victoria Secret’s parent stock falls on weak holiday sales and trimmed forecast

Victoria’s Secret parent company L Brands said its holiday sales shrunk, leading the retailer to cut its earnings outlook for the fourth quarter. The news comes on the heels of L Brands promising investors in September that an “evolution” was ahead for the embattled lingerie brand. L Brands now expects to report fourth-quarter earnings of $1.85 per share, down from its previous forecast of $2.00 per share. Sales of scented candles and lotions have been propping up L Brands’ otherwise increasingl


Victoria’s Secret parent company L Brands said its holiday sales shrunk, leading the retailer to cut its earnings outlook for the fourth quarter.
The news comes on the heels of L Brands promising investors in September that an “evolution” was ahead for the embattled lingerie brand.
L Brands now expects to report fourth-quarter earnings of $1.85 per share, down from its previous forecast of $2.00 per share.
Sales of scented candles and lotions have been propping up L Brands’ otherwise increasingl
Victoria Secret’s parent stock falls on weak holiday sales and trimmed forecast Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: amelia lucas lauren thomas, amelia lucas, lauren thomas
Keywords: news, cnbc, companies, sales, parent, holiday, weak, brands, victorias, shipping, victoria, stores, body, forecast, stock, trimmed, works, secret, falls, secrets, samestore


Victoria Secret's parent stock falls on weak holiday sales and trimmed forecast

Victoria’s Secret parent company L Brands said its holiday sales shrunk, leading the retailer to cut its earnings outlook for the fourth quarter.

The news comes on the heels of L Brands promising investors in September that an “evolution” was ahead for the embattled lingerie brand. But there weren’t many bright spots in its reports on Thursday.

To stem sales declines, L Brands has promised to use a more diverse group of models in its Victoria’s Secret marketing and advertising — that will reflect women of all shapes and sizes. It has vowed to make more trend-right and comfortable products, to try to win back the customers who have fled its stores for the likes of ThirdLove and Adore Me. But that didn’t come in time for the holidays.

Shares of the company fell more than 4% in premarket trading.

L Brands now expects to report fourth-quarter earnings of $1.85 per share, down from its previous forecast of $2.00 per share.

During the nine weeks that ended Jan. 4, L Brands saw net sales of $3.9 billion, down from $4.1 billion a year ago. Same-store sales declined by 3%.

Victoria’s Secret’s same-store sales across its stores and direct channels shrank by 12% during the holiday season, a much steeper drop than the previous year’s decline of 4%.

Its Bath & Body Works division reported same-store sales growth of 9%. Sales of scented candles and lotions have been propping up L Brands’ otherwise increasingly outdated bra and underwear business. But some analysts have said even Bath & Body Works’ best days are over.

“Bath & Body Works’ top line has been great but margins are beginning to erode and compares are daunting,” Jefferies analyst Randy Konik said in a note to clients earlier this month.

“Candle penetration is maxing out,” he added. “Over time, BBW.com likely will have to offer more ‘free shipping’ offers and its products are heavy, which adds to shipping expense. … These factors will cause margins to erode further in the segment.”

L Brands shares, as of Wednesday’s market close, are down about 35% over the past 12 months. The retailer has a market cap of $5 billion.

Read the full press release here.


Company: cnbc, Activity: cnbc, Date: 2020-01-09  Authors: amelia lucas lauren thomas, amelia lucas, lauren thomas
Keywords: news, cnbc, companies, sales, parent, holiday, weak, brands, victorias, shipping, victoria, stores, body, forecast, stock, trimmed, works, secret, falls, secrets, samestore


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US trade deficit falls more than expected to hit lowest level since Trump took office

The U.S. trade deficit fell more than expected in November ahead of negotiations with China that cooled the simmering tariff battle between the two sides. President Donald Trump made reducing the trade deficit a major priority of his administration, and November marks the first month that it actually happened. The fall in imports is not expected to last but likely will contribute to the stronger fourth-quarter GDP reading. “This is on track to be a positive contribution for GDP growth in Q4, but


The U.S. trade deficit fell more than expected in November ahead of negotiations with China that cooled the simmering tariff battle between the two sides.
President Donald Trump made reducing the trade deficit a major priority of his administration, and November marks the first month that it actually happened.
The fall in imports is not expected to last but likely will contribute to the stronger fourth-quarter GDP reading.
“This is on track to be a positive contribution for GDP growth in Q4, but
US trade deficit falls more than expected to hit lowest level since Trump took office Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-07  Authors: jeff cox
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US trade deficit falls more than expected to hit lowest level since Trump took office

The U.S. trade deficit fell more than expected in November ahead of negotiations with China that cooled the simmering tariff battle between the two sides.

The shortfall in goods and services declined to $43.09 billion for the month, below the $43.6 estimate from economists surveyed by Dow Jones. That represented the lowest deficit since October 2017. That was down sharply from the $46.9 billion in October, which was revised lower from an initially reported $47.2 billion.

President Donald Trump made reducing the trade deficit a major priority of his administration, and November marks the first month that it actually happened. The gap had continued to grow despite the White House’s intense pressuring of Beijing to loosen its trade barriers and to stop appropriating U.S technology.

In addition to representing the low point of the Trump administration, the numbers also provide further indication that fears of a weak fourth quarter for GDP were probably overblown. Where economists had once projected little if any growth to close the year, consensus is now for 2%, according to CNBC’s Rapid Update gauge.

“The stabilization in global manufacturing activity, and the trade truce with China, suggest that the drag on the US economy from weak growth overseas has now run its course,” Andre Hunter, senior U.S. economist at Capital Economics, said in a note.

After a nearly two-year skirmish that saw both sides lob tariffs back and forth, the U.S. and China are expected to sign the first phase of a trade deal later this month.

The deficit with China decreased $2.2 billion in November to $25.6 billion owing to a $1.4 billion increase in exports and an $800 million decline in imports. The fall in imports is not expected to last but likely will contribute to the stronger fourth-quarter GDP reading.

“This is on track to be a positive contribution for GDP growth in Q4, but for the wrong reasons,” said Jeffrey Kleintop, chief global investment strategist at Charles Schwab. “Falling imports in every major category is what we see in this report, and that includes capital goods. That is not a good sign for business investment.”

Overall for the U.S., exports rose $1.4 billion to $208.6 billion while imports fell $2.5 billion to $251.7 billion.

On a year-to-date basis, the total deficit of goods and services fell $3.9 billion, or 0.7%, from the same period in 2018 due largely to a $3.9 billion fall in imports.


Company: cnbc, Activity: cnbc, Date: 2020-01-07  Authors: jeff cox
Keywords: news, cnbc, companies, office, china, goods, deficit, trade, trump, expected, lowest, hit, falls, growth, gdp, imports, fell, billion, took, level


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Oil falls more than 1%, but ekes out third straight week of gains

Oil fell on Friday, but still managed to post its third straight week of gains amid the easing of U.S.-Chinese trade tensions, which has boosted business confidence and the outlook for global economic growth. Progress in the trade dispute between the world’s two biggest oil consumers has raised expectations of higher energy demand next year. Advancement of the U.S.-Mexico-Canada Agreement (USMCA), which is set to replace the North American Free Trade Agreement (NAFTA), has also boosted oil this


Oil fell on Friday, but still managed to post its third straight week of gains amid the easing of U.S.-Chinese trade tensions, which has boosted business confidence and the outlook for global economic growth.
Progress in the trade dispute between the world’s two biggest oil consumers has raised expectations of higher energy demand next year.
Advancement of the U.S.-Mexico-Canada Agreement (USMCA), which is set to replace the North American Free Trade Agreement (NAFTA), has also boosted oil this
Oil falls more than 1%, but ekes out third straight week of gains Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-20
Keywords: news, cnbc, companies, straight, agreement, oil, gains, falls, week, energy, trade, supported, fell, workers, union, worlds, ekes


Oil falls more than 1%, but ekes out third straight week of gains

A general view of the Novokuibyshev Refinery owned by Rosneft oil company on March 15, 2012 in Novokuibyshevsk, Samara region, Russia.

Oil fell on Friday, but still managed to post its third straight week of gains amid the easing of U.S.-Chinese trade tensions, which has boosted business confidence and the outlook for global economic growth.

Brent fell 48 cents, or 0.7%, to $66.06 a barrel. U.S. West Texas Intermediate crude fell 74 cents, or 1.2%, to settle at $60.44. Despite Friday’s fall, WTI ended the week with a 0.5% gain.

Progress in the trade dispute between the world’s two biggest oil consumers has raised expectations of higher energy demand next year.

China on Thursday announced a list of import tariff exemptions for six oil and chemical products from the United States, days after Washington and Beijing said an interim trade deal is set to be signed in January.

Advancement of the U.S.-Mexico-Canada Agreement (USMCA), which is set to replace the North American Free Trade Agreement (NAFTA), has also boosted oil this week. The agreement was passed by the U.S. House of Representatives on Thursday.

“The oil market in general has been supported from good news on the trade front,” said Andy Lipow, president of Lipow Oil Associates in Houston.

Some selling ahead of the Christmas and New Year’s Day holidays was pushing prices lower, said Phil Flynn, an analyst at Price Futures Group in Chicago.

“We’ve had a pretty good run the last couple of days, and I think the bulls are nervous about carrying positions into the holiday,” Flynn said.

A rise in the U.S. oil rig count, an indicator of future supply from the world’s largest producer, also put pressure on prices.

U.S. energy firms added the most oil rigs this week since February 2018, even though producers have been reducing spending on new drilling, energy services firm Baker Hughes Co said in its report on Friday.

Companies added 18 oil rigs in the week to Dec. 20, bringing the total count to 685, the most since early November, Baker Hughes said.

U.S. economic growth nudged up in the third quarter, the government confirmed on Friday, and there are signs the U.S. economy more or less maintained the moderate pace of expansion as the year ended, supported by a strong labour market.

The end of 2019 offered much noise but little direction, and prices were treading water on average, Julius Baer analyst Carsten Menke said. “Looking forward into 2020, commodities as an asset class should continue to trade range-bound for most of the year,” Menke said.

Meanwhile, France’s CGT oil sector workers union plans to step up a nationwide strike but will leave the decision over whether to halt production at refineries for workers to decide early next week, a CGT union official said.


Company: cnbc, Activity: cnbc, Date: 2019-12-20
Keywords: news, cnbc, companies, straight, agreement, oil, gains, falls, week, energy, trade, supported, fell, workers, union, worlds, ekes


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Investors hedge against ‘black swan’ even as main fear gauge falls

Brendan McDermid | ReutersMany Wall Street indicators show that investors are confident about the future of the market, but some traders are bracing for the worst. The Cboe Volatility Index, commonly known as the VIX, is trading near its lowest level this year, and a Bank of America-Merrill Lynch indicator shows market stress well below normal. The VIX, often called Wall Street’s “fear gauge,” measures implied near-term volatility expectations in the S&P 500 via prices for options on the benchma


Brendan McDermid | ReutersMany Wall Street indicators show that investors are confident about the future of the market, but some traders are bracing for the worst.
The Cboe Volatility Index, commonly known as the VIX, is trading near its lowest level this year, and a Bank of America-Merrill Lynch indicator shows market stress well below normal.
The VIX, often called Wall Street’s “fear gauge,” measures implied near-term volatility expectations in the S&P 500 via prices for options on the benchma
Investors hedge against ‘black swan’ even as main fear gauge falls Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-19  Authors: jesse pound, yun li
Keywords: news, cnbc, companies, event, skew, traders, hedge, investors, vix, swan, gauge, main, fear, black, falls, trading, level, market, volatility, cboe, index


Investors hedge against 'black swan' even as main fear gauge falls

Traders work on the floor at the New York Stock Exchange, December 9, 2019. Brendan McDermid | Reuters

Many Wall Street indicators show that investors are confident about the future of the market, but some traders are bracing for the worst. The Cboe Volatility Index, commonly known as the VIX, is trading near its lowest level this year, and a Bank of America-Merrill Lynch indicator shows market stress well below normal. The VIX, often called Wall Street’s “fear gauge,” measures implied near-term volatility expectations in the S&P 500 via prices for options on the benchmark. After a small spike last week, the index has fallen more than 20%. It currently trades at just above 12, well off its 52-week high of 36.07. The higher it goes, the more fearful traders are and vice versa.

“Many of the reasons for dampened near-term volatility rest with the behavior of the Fed and other developed market central banks globally,” William Blair said in a note to investors last week. Rate cuts have the effect of pushing more liquidity into the markets and aiding the economy. However, the Cboe SKEW Index, which represents how traders are pricing the possibility of a “black swan” event, is trading near its highest level for the year. The SKEW Index is based on pricing for S&P 500 options that are well “out of the money” and would only come into play if the market moves significantly. Both the VIX and the SKEW look at volatility at a 30-day horizon. The SKEW reached its highest level of the year on Friday, according to data from Cboe. The SKEW to VIX ratio is above the 95th percentile of its historical range, according to Roberto Friedlander, the head of energy trading at Seaport Global Securities. “SKEW index tends to be traded more by the quote-unquote professional-type traders, so they’re certainly paying up for premium for a black swan-type event … obviously we’re going through impeachment process now or some sort of trade event or a geopolitical event,” Friedlander said.


Company: cnbc, Activity: cnbc, Date: 2019-12-19  Authors: jesse pound, yun li
Keywords: news, cnbc, companies, event, skew, traders, hedge, investors, vix, swan, gauge, main, fear, black, falls, trading, level, market, volatility, cboe, index


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Gold dips as dollar rises; palladium falls back from near $2,000

An employee returns a box of one kilogram gold bars to the safe in Budapest, Hungary, on June 17, 2013. Gold dipped on Wednesday, weighed down by a firmer dollar which found support from mounting expectations the U.S. Federal Reserve will not cut interest rates soon, while palladium retreated from record highs. Data on Tuesday showed U.S. manufacturing output rebounded more than expected in November, making it less likely that the Fed would cut interest rates soon. Gold is sensitive to rising in


An employee returns a box of one kilogram gold bars to the safe in Budapest, Hungary, on June 17, 2013.
Gold dipped on Wednesday, weighed down by a firmer dollar which found support from mounting expectations the U.S. Federal Reserve will not cut interest rates soon, while palladium retreated from record highs.
Data on Tuesday showed U.S. manufacturing output rebounded more than expected in November, making it less likely that the Fed would cut interest rates soon.
Gold is sensitive to rising in
Gold dips as dollar rises; palladium falls back from near $2,000 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-18
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Gold dips as dollar rises; palladium falls back from near $2,000

An employee returns a box of one kilogram gold bars to the safe in Budapest, Hungary, on June 17, 2013.

Gold dipped on Wednesday, weighed down by a firmer dollar which found support from mounting expectations the U.S. Federal Reserve will not cut interest rates soon, while palladium retreated from record highs.

Spot gold dipped 0.1% to $1,474.91 per ounce. U.S. gold futures also inched down 0.1% to settle at $1,478.70.

“The strength of the dollar is weighing on gold, coupled with the fact that the trade deal has removed the urge to get into safe havens like gold or yen,” said Edward Meir, analyst at ED&F Man Capital Markets. “We are kind of watching the paint dry… Big and complex issues are deferred and even the Phase 1 deal is not completely nailed down yet.”

Data on Tuesday showed U.S. manufacturing output rebounded more than expected in November, making it less likely that the Fed would cut interest rates soon. Gold is sensitive to rising interest rates, which lift the opportunity cost of holding it, and boost the dollar, in which the metal is priced.

The U.S. currency against a basket of others held gains at 97.41. Due to a lack of follow-through on the upside in gold, investors had started modestly selling the metal, said Afshin Nabavi, senior vice president at precious metals trader MKS SA, adding a break of the $1,465-$1,495 range could attract fresh interest.

Gold, on track for its biggest annual gain since 2010, is supported on the back of recessionary fears and as major central banks around the world resort to monetary easing. The U.S. House of Representatives is due to vote later in the day on whether to impeach President Donald Trump.

Further support for bullion came from fresh fears of a no-deal Brexit, analysts said. On Tuesday, Britain set a hard deadline of December 2020 to reach a new trade deal with the European Union, reviving fears of a chaotic exit from the bloc.

Palladium retreated from a near $2,000 record peak hit on Tuesday, falling 1.5% to $1,925.48.

“The (palladium) market is blowing off froth and is likely to mark time towards year-end, but tightness in supply is unlikely to be mitigated in the near future,” INTL FCStone analyst Rhona O’Connell said in a note.

Among other precious metals, platinum rose 0.7% to $933.74 an ounce, and silver fell 0.1% to $16.99.


Company: cnbc, Activity: cnbc, Date: 2019-12-18
Keywords: news, cnbc, companies, gold, interest, support, deal, dollar, falls, dips, fears, palladium, near, soon, rates, trade, rises, 2000


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Roku stock falls after CFO steps down

People pass by a video sign display with the logo for Roku, a Fox-backed video streaming firm, that held it’s IPO at the Nasdaq Marketsite in New York, September 28, 2017. Roku’s stock fell 4% in extended hours trading after the company announced its chief financial officer Steve Louden would be stepping down. The company said Louden would leave the company after helping hire his successor. Louden joined Roku in 2015. Roku shares are up 352% since the beginning of the year, with a market cap of


People pass by a video sign display with the logo for Roku, a Fox-backed video streaming firm, that held it’s IPO at the Nasdaq Marketsite in New York, September 28, 2017.
Roku’s stock fell 4% in extended hours trading after the company announced its chief financial officer Steve Louden would be stepping down.
The company said Louden would leave the company after helping hire his successor.
Louden joined Roku in 2015.
Roku shares are up 352% since the beginning of the year, with a market cap of
Roku stock falls after CFO steps down Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-16  Authors: megan graham
Keywords: news, cnbc, companies, streamingroku, wood, roku, steps, video, louden, york, transition, cfo, company, falls, trading, stock, successor


Roku stock falls after CFO steps down

People pass by a video sign display with the logo for Roku, a Fox-backed video streaming firm, that held it’s IPO at the Nasdaq Marketsite in New York, September 28, 2017.

Roku’s stock fell 4% in extended hours trading after the company announced its chief financial officer Steve Louden would be stepping down.

The company said Louden would leave the company after helping hire his successor. Louden joined Roku in 2015.

Roku CEO and founder Anthony Wood said in a statement Louden “managed our finances through our transition to a public company and rapid expansion into new areas of streaming.”

Roku shares are up 352% since the beginning of the year, with a market cap of $16.3 billion.


Company: cnbc, Activity: cnbc, Date: 2019-12-16  Authors: megan graham
Keywords: news, cnbc, companies, streamingroku, wood, roku, steps, video, louden, york, transition, cfo, company, falls, trading, stock, successor


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