Sterling soars to 7-week high on optimism of a Brexit breakthrough

Sterling is now up more than 4% versus the dollar since September 3, when it reached a three-year low. The main driver behind buying appeared to be a newspaper report in The Times newspaper that suggested that the Democratic Unionist Party is softening its opposition to a Northern Ireland-only backstop. Foster again discredited the prospect of a Northern Ireland-only backstop on Friday and derided the Times report, stating “anonymous sources lead to nonsense stories.” Kit Juckes, chief foreign e


Sterling is now up more than 4% versus the dollar since September 3, when it reached a three-year low. The main driver behind buying appeared to be a newspaper report in The Times newspaper that suggested that the Democratic Unionist Party is softening its opposition to a Northern Ireland-only backstop. Foster again discredited the prospect of a Northern Ireland-only backstop on Friday and derided the Times report, stating “anonymous sources lead to nonsense stories.” Kit Juckes, chief foreign e
Sterling soars to 7-week high on optimism of a Brexit breakthrough Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: david reid
Keywords: news, cnbc, companies, traders, breakthrough, short, newspaper, positions, sterling, soars, optimism, report, opposition, northern, london, brexit, times, 7week, high


Sterling soars to 7-week high on optimism of a Brexit breakthrough

Sterling rose to its highest level since late July on Friday as momentum appeared to swell behind the idea that Britain won’t leave the European Union without a formal deal.

Shortly after11 a.m. in London, the pound had risen 1% for the session to reach $1.2456. Sterling is now up more than 4% versus the dollar since September 3, when it reached a three-year low.

The main driver behind buying appeared to be a newspaper report in The Times newspaper that suggested that the Democratic Unionist Party is softening its opposition to a Northern Ireland-only backstop.

The DUP has long rejected the backstop — an insurance policy against any hard border within Ireland — as any part of the Brexit process. DUP leader Arlene Foster once described her party’s opposition as a “blood red” line.

Foster again discredited the prospect of a Northern Ireland-only backstop on Friday and derided the Times report, stating “anonymous sources lead to nonsense stories.”

Despite that rebuttal, sterling clung on to its gains and even took a further leg higher.

Kit Juckes, chief foreign exchange strategist at Societe Generale, said in his daily research note Friday that the Times report had triggered some traders to cover off their short positions on sterling. Short positions are where traders bet against an asset, believing it will fall in price, in order to make a profit.

Juckes cautioned that it was now “very late in the day” for U.K. Prime Minister Boris Johnson to arrange a fresh deal that would satisfy lawmakers in Belfast, London and Brussels.


Company: cnbc, Activity: cnbc, Date: 2019-09-13  Authors: david reid
Keywords: news, cnbc, companies, traders, breakthrough, short, newspaper, positions, sterling, soars, optimism, report, opposition, northern, london, brexit, times, 7week, high


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Self-employed? Here’s why your retirement savings are falling short

If you’re your own boss, chances are you aren’t doing enough to save for retirement. Just over 1 in 10 of self-employed individuals in a single-person business is currently participating in a workplace retirement plan, according to data from The Pew Charitable Trusts. “That very first tax bill is what spurs them to set up a retirement plan,” said Kelley Long, a CPA and member of the American Institute of CPAs’ consumer financial education advocates. That’s because entrepreneurs may be able to cl


If you’re your own boss, chances are you aren’t doing enough to save for retirement. Just over 1 in 10 of self-employed individuals in a single-person business is currently participating in a workplace retirement plan, according to data from The Pew Charitable Trusts. “That very first tax bill is what spurs them to set up a retirement plan,” said Kelley Long, a CPA and member of the American Institute of CPAs’ consumer financial education advocates. That’s because entrepreneurs may be able to cl
Self-employed? Here’s why your retirement savings are falling short Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-12  Authors: darla mercado
Keywords: news, cnbc, companies, 401k, plan, set, short, savings, falling, tax, cpa, selfemployed, retirement, wrapped, solo, heres, youre


Self-employed? Here's why your retirement savings are falling short

If you’re your own boss, chances are you aren’t doing enough to save for retirement.

Just over 1 in 10 of self-employed individuals in a single-person business is currently participating in a workplace retirement plan, according to data from The Pew Charitable Trusts.

In comparison, 72% of employees in larger companies utilized a 401(k) at work, the organization found.

Pew studied a total of 4,269 workers aged 50 to 64 in 2012 and 2014. The self-employed participants were divided into solo and multi-person firms.

Entrepreneurs get so wrapped up in the day-to-day running of their businesses that retirement planning often takes a back seat — until the IRS comes looking for its share.

“That very first tax bill is what spurs them to set up a retirement plan,” said Kelley Long, a CPA and member of the American Institute of CPAs’ consumer financial education advocates.

That’s because entrepreneurs may be able to claim a tax credit for the cost of setting up a plan at work.

“Your CPA will say that this is what you owe, and they’ll suggest from the outset that they set up a SEP IRA [simplified employee pension individual retirement account] or a solo 401(k),” she said.


Company: cnbc, Activity: cnbc, Date: 2019-09-12  Authors: darla mercado
Keywords: news, cnbc, companies, 401k, plan, set, short, savings, falling, tax, cpa, selfemployed, retirement, wrapped, solo, heres, youre


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Job growth falls short of expectations as August payrolls rise just 130,000

Job growth continued at a tepid pace in August, with nonfarm payrolls increasing by just 130,000 thanks in large part to the temporary hiring of Census workers, the Labor Department reported Friday. The increase fell short of Wall Street estimates for 150,000, while the unemployment rate stayed at 3.7%, as expected. An alternative measure of the jobless rate, which includes discouraged and underemployed workers, increased to 7.2% from 7% in July, due mainly to a 397,000 increase in those working


Job growth continued at a tepid pace in August, with nonfarm payrolls increasing by just 130,000 thanks in large part to the temporary hiring of Census workers, the Labor Department reported Friday. The increase fell short of Wall Street estimates for 150,000, while the unemployment rate stayed at 3.7%, as expected. An alternative measure of the jobless rate, which includes discouraged and underemployed workers, increased to 7.2% from 7% in July, due mainly to a 397,000 increase in those working
Job growth falls short of expectations as August payrolls rise just 130,000 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: jeff cox, fred imbert
Keywords: news, cnbc, companies, payrolls, working, workers, unemployment, underemployed, growth, job, expectations, increased, increase, increasing, short, wall, rise, 130000, falls, rate


Job growth falls short of expectations as August payrolls rise just 130,000

Job growth continued at a tepid pace in August, with nonfarm payrolls increasing by just 130,000 thanks in large part to the temporary hiring of Census workers, the Labor Department reported Friday.

The increase fell short of Wall Street estimates for 150,000, while the unemployment rate stayed at 3.7%, as expected. An alternative measure of the jobless rate, which includes discouraged and underemployed workers, increased to 7.2% from 7% in July, due mainly to a 397,000 increase in those working part-time for economic reasons.

Wage growth remained solid, with average hourly earnings increasing by 0.4% for the month and 3.2% over the year; both numbers were one-tenth of a percentage point better than expected.

Labor force participation also increased, rising to 63.2% and tying its highest level since August 2013. The total number of Americans considered employed surged by 590,000 to a record 157.9 million, according to the household survey, which is conducted separately from the headline establishment count.

The difference between the two surveys inspired some optimism.


Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: jeff cox, fred imbert
Keywords: news, cnbc, companies, payrolls, working, workers, unemployment, underemployed, growth, job, expectations, increased, increase, increasing, short, wall, rise, 130000, falls, rate


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Treasury yields slip after job gains fall short, wages climb

The yield on the benchmark 10-year Treasury note ticked lower to 1.55% following its 10-basis-point climb in the prior session. Economists polled by Dow Jones expected the labor market to add 150,000 jobs following a gain of 164,000 in July. “The idea that the labor market is tight is well-documented and well-understood,” said Jon Hill, a rates strategist at BMO Capital Markets. “You see an upside surprise in average hourly earnings,” but Wall Street remains unconvinced that those gains necessar


The yield on the benchmark 10-year Treasury note ticked lower to 1.55% following its 10-basis-point climb in the prior session. Economists polled by Dow Jones expected the labor market to add 150,000 jobs following a gain of 164,000 in July. “The idea that the labor market is tight is well-documented and well-understood,” said Jon Hill, a rates strategist at BMO Capital Markets. “You see an upside surprise in average hourly earnings,” but Wall Street remains unconvinced that those gains necessar
Treasury yields slip after job gains fall short, wages climb Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: thomas franck
Keywords: news, cnbc, companies, expected, trade, slip, fall, market, short, job, gains, treasury, wages, climb, ministry, labor, yields, federal, jobs, yield


Treasury yields slip after job gains fall short, wages climb

U.S. government debt yields erased an early rise on Friday after the Labor Department said employers added fewer jobs than expected in August, though wage gains kept rates from falling further.

The yield on the benchmark 10-year Treasury note ticked lower to 1.55% following its 10-basis-point climb in the prior session. The yield on the 30-year Treasury bond slipped to 2.02% and the 2-year yield hovered at 1.53% after posting its largest one-day jump since February 2015 in the prior session. Yields rise as prices fall.

U.S. employers added a weaker-than-anticipated 130,000 jobs in August, the government said in its regular update situation. Economists polled by Dow Jones expected the labor market to add 150,000 jobs following a gain of 164,000 in July. The unemployment rate held steady at 3.7%.

Average hourly earnings — a statistic often used by economists as a leading inflation indicator — rose more than expected between August and July, as a 0.4% gain topped expectations of a 0.3% increase. The print brings wages gains up to 3.2% over the year.

“The idea that the labor market is tight is well-documented and well-understood,” said Jon Hill, a rates strategist at BMO Capital Markets. “You see an upside surprise in average hourly earnings,” but Wall Street remains unconvinced that those gains necessarily portend broader inflation gains.

“In general, this doesn’t really change much: The Fed was never really cutting because of the labor market,” he added, referring to expectations that the Federal Reserve will cut the overnight lending rate by another 25 basis points when it meets later this month.

Fed officials have on multiple occasions noted a slowdown in economic growth overseas as well as heighten trade-related uncertainty when justifying reductions to the federal funds rate.

The employment statistics adds to the fierce debate on Wall Street over whether the U.S. is headed for economic slowdown. Investors fled risk assets in favor of safe havens during August as a combination of soured trade relations with China and an inverted yield curve suggested to some that GDP growth could be nearing contraction.

The New York Federal Reserve puts the chance of a recession at 39% in the next 12 months, the highest level since the Great Recession that ended in mid-2009. The 10-year Treasury note yield fell more than 50 basis points last month amid the flight to safer assets including government debt and precious metals. A basis point is one hundredth of one percent.

More recent trade headlines, however, have reversed a fraction of the August bid for Treasurys.

The U.S. and China agreed to hold high-level talks in early October, according to a translation of a report from the Chinese Commerce Ministry released earlier this week. The news raised hopes that the world’s two largest economies could soon make substantial progress in calming their multiyear trade war.

China’s Ministry of Commerce said Thursday that Liu He, the country’s top trade negotiator, spoke by phone with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. They agreed to meet in early October for another round of negotiations, according to the Chinese Commerce Ministry. China insiders have also hinted that the upcoming trade talks could lead to a “breakthrough.”

—CNBC’s Sam Meredith contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-09-06  Authors: thomas franck
Keywords: news, cnbc, companies, expected, trade, slip, fall, market, short, job, gains, treasury, wages, climb, ministry, labor, yields, federal, jobs, yield


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Michael Burry of ‘The Big Short’ says he has found the next market bubble

Michael Burry, one of the first investors to call and profit from the subprime mortgage crisis, is seeing a similar bubble in passive investing, according to Bloomberg News. Passive investments such as index funds and exchange-traded funds are inflating stock and bond prices in a similar way that collateralized debt obligations did for subprime mortgages more than 10 years ago, Burry told Bloomberg News in an email. When the massive inflows into passive vehicles reverse, “it will be ugly,” he sa


Michael Burry, one of the first investors to call and profit from the subprime mortgage crisis, is seeing a similar bubble in passive investing, according to Bloomberg News. Passive investments such as index funds and exchange-traded funds are inflating stock and bond prices in a similar way that collateralized debt obligations did for subprime mortgages more than 10 years ago, Burry told Bloomberg News in an email. When the massive inflows into passive vehicles reverse, “it will be ugly,” he sa
Michael Burry of ‘The Big Short’ says he has found the next market bubble Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: yun li
Keywords: news, cnbc, companies, passive, big, short, worse, funds, crisis, burry, michael, similar, massive, bloomberg, subprime, market, bubble


Michael Burry of 'The Big Short' says he has found the next market bubble

Michael Burry, one of the first investors to call and profit from the subprime mortgage crisis, is seeing a similar bubble in passive investing, according to Bloomberg News.

Passive investments such as index funds and exchange-traded funds are inflating stock and bond prices in a similar way that collateralized debt obligations did for subprime mortgages more than 10 years ago, Burry told Bloomberg News in an email. When the massive inflows into passive vehicles reverse, “it will be ugly,” he said.

“Like most bubbles, the longer it goes on, the worse the crash will be,” Burry said. “This is very much like the bubble in synthetic asset-backed CDOs before the Great Financial Crisis in that price-setting in that market was not done by fundamental security-level analysis, but by massive capital flows based on Nobel-approved models of risk that proved to be untrue.”


Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: yun li
Keywords: news, cnbc, companies, passive, big, short, worse, funds, crisis, burry, michael, similar, massive, bloomberg, subprime, market, bubble


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Morgan Stanley: Investors should short growth stocks, get defensive as ‘recession fears emerge’

Morgan Stanley’s Mike Wilson, one of Wall Street’s most skeptical strategists, is advising clients to dump growth stocks and buy defensive names, saying “demand destructive” tariffs are fanning recession fears. “At the end of a growth scare when recession fears emerge, secular growth stocks typically underperform defensives,” Wilson said in a note to clients Monday. “Since the consumer is 70% of the economy, the overall impact on the economy could be greater for this round,” Wilson said. Wilson,


Morgan Stanley’s Mike Wilson, one of Wall Street’s most skeptical strategists, is advising clients to dump growth stocks and buy defensive names, saying “demand destructive” tariffs are fanning recession fears. “At the end of a growth scare when recession fears emerge, secular growth stocks typically underperform defensives,” Wilson said in a note to clients Monday. “Since the consumer is 70% of the economy, the overall impact on the economy could be greater for this round,” Wilson said. Wilson,
Morgan Stanley: Investors should short growth stocks, get defensive as ‘recession fears emerge’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: yun li
Keywords: news, cnbc, companies, stocks, growth, names, stanley, market, wilson, fears, investors, tariffs, recession, round, defensive, trade, war, short, emerge, morgan


Morgan Stanley: Investors should short growth stocks, get defensive as 'recession fears emerge'

Morgan Stanley’s Mike Wilson, one of Wall Street’s most skeptical strategists, is advising clients to dump growth stocks and buy defensive names, saying “demand destructive” tariffs are fanning recession fears.

Wilson, the firm’s chief U.S. equity strategist, sees defensive bond proxies outperforming growth names by 10% as the U.S.-China trade war weighs on consumer sentiment, which adds to a long list of recessionary indicators that are already flashing red.

“At the end of a growth scare when recession fears emerge, secular growth stocks typically underperform defensives,” Wilson said in a note to clients Monday. “Slowing job creation and slowing hours worked, stock market volatility and new tariffs are all potential weights on consumer spend.”

Tariffs on $112 billion of Chinese goods kicked in on Sunday. This round of duties target many everyday grocery items and household staples, which could cost the average American household $1,000 a year, J.P. Morgan estimated. The tit-for-tat tariff threats roiled the stock market in August with the Dow Jones Industrial Average suffering its worst month since May. The bond market also repeatedly flashed its biggest recession warnings amid the trade war escalation.

“Since the consumer is 70% of the economy, the overall impact on the economy could be greater for this round,” Wilson said. “Keep in mind that last year’s first round of tariffs happened when companies were still enjoying a massive profits/margin windfall from the tax cuts. With that windfall now gone, the ability to eat the tariffs is much lower today.”

Wilson, who called the earnings recession this year, said previously the U.S. economy could fall into a recession if the country’s trade war keeps escalating.

He is recommending a pairs trade of shorting the Nasdaq 100, which contains many secular growth names, and betting on the S&P 500. Wilson also says investor should go long defensive stocks. The firm’s buy list includes Disney, Coca-Cola, NextEra Energy and Procter & Gamble.

Morgan Stanley has a mid-2020 price target for the S&P 500 at 2,750. The benchmark closed Friday’s trading at 2,926.46.


Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: yun li
Keywords: news, cnbc, companies, stocks, growth, names, stanley, market, wilson, fears, investors, tariffs, recession, round, defensive, trade, war, short, emerge, morgan


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Tesla short David Einhorn says Elon Musk should resign over solar panel fires

Tesla short David Einhorn of Greenlight Capital said Friday on Twitter that the electric-car maker’s CEO, Elon Musk, should resign after allegations that the company’s solar panels have caused fires. The comments came just days after Walmart filed a lawsuit against Tesla claiming that solar panels it bought from the company caught fire at seven of its stores. It is asking for Tesla to remove its solar panels from more than 240 Walmart locations and pay damages related to the fires. “How many sol


Tesla short David Einhorn of Greenlight Capital said Friday on Twitter that the electric-car maker’s CEO, Elon Musk, should resign after allegations that the company’s solar panels have caused fires. The comments came just days after Walmart filed a lawsuit against Tesla claiming that solar panels it bought from the company caught fire at seven of its stores. It is asking for Tesla to remove its solar panels from more than 240 Walmart locations and pay damages related to the fires. “How many sol
Tesla short David Einhorn says Elon Musk should resign over solar panel fires Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: lauren feiner
Keywords: news, cnbc, companies, saying, elon, walmart, musk, einhorn, tesla, stores, short, panels, look, live, system, solar, panel, fires, resign, david, tweeted


Tesla short David Einhorn says Elon Musk should resign over solar panel fires

Tesla short David Einhorn of Greenlight Capital said Friday on Twitter that the electric-car maker’s CEO, Elon Musk, should resign after allegations that the company’s solar panels have caused fires.

The comments came just days after Walmart filed a lawsuit against Tesla claiming that solar panels it bought from the company caught fire at seven of its stores. Walmart alleged Tesla committed gross negligence, breach of contract and failure to live up to industry standards. It is asking for Tesla to remove its solar panels from more than 240 Walmart locations and pay damages related to the fires.

“How many solar panels are still defective and could cause fires?” Einhorn tweeted Friday, saying the company “should immediately notify the people who live in and work in buildings at risk.”

“A recall should have happened long ago,” he tweeted, tagging the U.S. Consumer Product Safety Commission.

Tesla did not immediately respond to a request for comment.

On Thursday, Tesla and Walmart released a joint statement saying they “look forward to addressing all issues and re-energizing Tesla solar installations at Walmart stores, once all parties are certain that all concerns have been addressed.Together, we look forward to pursuing our mutual goal of a sustainable energy future. Above all else, both companies want each and every system to operate reliably, efficiently, and safely.”

Subscribe to CNBC on YouTube.

WATCH: Tesla is building the largest battery system in the world


Company: cnbc, Activity: cnbc, Date: 2019-08-23  Authors: lauren feiner
Keywords: news, cnbc, companies, saying, elon, walmart, musk, einhorn, tesla, stores, short, panels, look, live, system, solar, panel, fires, resign, david, tweeted


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Deere earnings fall short as company says farmers are delaying purchases because of the trade war

Deere missed earnings expectations for its fiscal third quarter and lowered its guidance for the full year on Friday, saying farmers were delaying purchases because of uncertainty around the trade war. The equipment company reported adjusted earnings of $2.71 per share on $8.97 billion in revenue. Analysts expected $2.85 in earnings per share and $9.39 billion in revenue, according to Refinitiv. The company lowered guidance for the second consecutive quarter, saying it expects a 4% increase in s


Deere missed earnings expectations for its fiscal third quarter and lowered its guidance for the full year on Friday, saying farmers were delaying purchases because of uncertainty around the trade war. The equipment company reported adjusted earnings of $2.71 per share on $8.97 billion in revenue. Analysts expected $2.85 in earnings per share and $9.39 billion in revenue, according to Refinitiv. The company lowered guidance for the second consecutive quarter, saying it expects a 4% increase in s
Deere earnings fall short as company says farmers are delaying purchases because of the trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: jesse pound, yun li
Keywords: news, cnbc, companies, revenue, farmers, earnings, guidance, purchases, deere, sales, quarter, fall, delaying, increase, short, company, billion, trade, lowered, war


Deere earnings fall short as company says farmers are delaying purchases because of the trade war

John Deere combine harvesters sit on display during the Farm Progress Show in Boone, Iowa, U.S., on Tuesday, Aug. 28, 2018.

Deere missed earnings expectations for its fiscal third quarter and lowered its guidance for the full year on Friday, saying farmers were delaying purchases because of uncertainty around the trade war.

The equipment company reported adjusted earnings of $2.71 per share on $8.97 billion in revenue. Analysts expected $2.85 in earnings per share and $9.39 billion in revenue, according to Refinitiv.

The stock was already down 13% this month before the earnings report. It rose 2.6% Friday.

“The guidance cut wasn’t too bad, and then Deere also announced that they think they can bring their margins up sort of structurally … so they have a plan for the future that’s pretty good,” Rob Wertheimer of Melius Research said on CNBC’s “Squawk Box ” after the earnings announcement.

The company lowered guidance for the second consecutive quarter, saying it expects a 4% increase in sales and $3.2 billion in net income for the year. In May, the company said it expected a 5% increase in sales and net income of $3.3 billion.

“John Deere’s third-quarter results reflected the high degree of uncertainty that continues to overshadow the agricultural sector,” Samuel Allen, chairman and chief executive officer, said in a statement. “Concerns about export-market access, near-term demand for commodities such as soybeans, and overall crop conditions, have caused many farmers to postpone major equipment purchases.”

“At the same time, general economic conditions remain positive and are contributing to strong results for Deere’s construction and forestry business,” Allen said.

The trade war between the U.S. and China has pressured Deere from multiple directions. The company is sensitive to steel prices for production costs and sells products to farmers, whose crops exports are facing uncertain demand from China.

Equipment sales declined 3% compared with the same quarter last year. The decline was due mainly to the company’s agriculture and turf segment, which saw sales decline 6%.

On Monday, the U.S. Department of Agriculture projected corn production to be 13.9 billion bushels for the 2019/20 crop year, an increase of 26 million from its July projection.

Shares of Deere fell more than 4% on Monday following the release of USDA’s updated projections. Corn futures also dropped.

Fellow machinery manufacturer Caterpillar also missed earnings and revenue estimates last month and lowered its full-year earnings guidance.


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: jesse pound, yun li
Keywords: news, cnbc, companies, revenue, farmers, earnings, guidance, purchases, deere, sales, quarter, fall, delaying, increase, short, company, billion, trade, lowered, war


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Hedge funds are betting Amazon and Netflix will get burned in this market sell-off

Hedge funds are upping their bets against some of the biggest technology stocks. The moves followed the biggest stock market plunge of the year on Monday. Hedge funds are expecting stocks such as Amazon, Google-parent Alphabet and Netflix to be among the biggest losers. Hedge funds that were ready for Monday’s drop reaped the profits of betting against shares of multiple technology companies. Short positions also saw gains of $100 million or more each from declines in the stock of Netflix, Aliba


Hedge funds are upping their bets against some of the biggest technology stocks. The moves followed the biggest stock market plunge of the year on Monday. Hedge funds are expecting stocks such as Amazon, Google-parent Alphabet and Netflix to be among the biggest losers. Hedge funds that were ready for Monday’s drop reaped the profits of betting against shares of multiple technology companies. Short positions also saw gains of $100 million or more each from declines in the stock of Netflix, Aliba
Hedge funds are betting Amazon and Netflix will get burned in this market sell-off Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: michael sheetz
Keywords: news, cnbc, companies, biggest, selloff, funds, stock, shorts, hedge, netflix, short, shares, burned, amazon, profits, betting, positions, technology, market, saw


Hedge funds are betting Amazon and Netflix will get burned in this market sell-off

Hedge funds are upping their bets against some of the biggest technology stocks.

Investors added $1.7 billion to short-selling positions on Monday and Tuesday, according to estimates from Ihor Dusaniwsky, S3 Partners’ head of predictive analytics. The moves followed the biggest stock market plunge of the year on Monday.

Short selling is a term used to describe betting against shares of a company. Shorts saw mark-to-market profits of $16.7 billion over the period that began with an escalating trade war with China as well as other macroeconomic data.

Hundreds of millions of dollars over the last two days flowed into new bets. Hedge funds are expecting stocks such as Amazon, Google-parent Alphabet and Netflix to be among the biggest losers. All three tech giants rank among the top 10 with the largest short position increases.

Hedge funds that were ready for Monday’s drop reaped the profits of betting against shares of multiple technology companies. Shorts against Apple brought in mark-to-market profits of just over $300 million in the last two days as the stock dropped 5.2%. Short positions also saw gains of $100 million or more each from declines in the stock of Netflix, Alibaba, Square, Tesla, Visa and Amazon.


Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: michael sheetz
Keywords: news, cnbc, companies, biggest, selloff, funds, stock, shorts, hedge, netflix, short, shares, burned, amazon, profits, betting, positions, technology, market, saw


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

SpaceX attempts first short flight of Starship prototype rocket but stops after engine fires

Seconds after the engine fired up, SpaceX stopped its first attempt to fly its prototype “Starship” rocket more than a few feet off the ground at the company’s facility in Boca Chica Beach, Texas on Wednesday. The prototype rocket did not lift off from the ground, as SpaceX engineer Kate Tice noted while hosting a surprise livestream of the test. The rocket’s engine started but the prototype did not move and an enduring flame shot skywards near the top of the rocket. SpaceX was intending to “hop


Seconds after the engine fired up, SpaceX stopped its first attempt to fly its prototype “Starship” rocket more than a few feet off the ground at the company’s facility in Boca Chica Beach, Texas on Wednesday. The prototype rocket did not lift off from the ground, as SpaceX engineer Kate Tice noted while hosting a surprise livestream of the test. The rocket’s engine started but the prototype did not move and an enduring flame shot skywards near the top of the rocket. SpaceX was intending to “hop
SpaceX attempts first short flight of Starship prototype rocket but stops after engine fires Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-25  Authors: michael sheetz
Keywords: news, cnbc, companies, system, today, vehicle, stops, short, starship, tice, attempts, test, rocket, flight, lift, fires, engine, prototype, spacex


SpaceX attempts first short flight of Starship prototype rocket but stops after engine fires

Seconds after the engine fired up, SpaceX stopped its first attempt to fly its prototype “Starship” rocket more than a few feet off the ground at the company’s facility in Boca Chica Beach, Texas on Wednesday.

The prototype rocket did not lift off from the ground, as SpaceX engineer Kate Tice noted while hosting a surprise livestream of the test. The rocket’s engine started but the prototype did not move and an enduring flame shot skywards near the top of the rocket. SpaceX was intending to “hop” the vehicle in a short flight of about 65 feet in the air.

“It appears as though we have had an abort on today’s test. As you can see there, the vehicle did not lift off today,” Tice said. “As I mentioned before, this is a development program, today was a test flight designed to test the boundaries of the vehicle.”

Known as “Starhopper,” the prototype rocket is the early version of the company’s Starship rocket. Starship, with an enormous booster called “Super Heavy,” is being built to achieve founder Elon Musk’s dream of transporting up to 100 people to destinations including the moon and Mars.

“Starship is a fully reusable system that is designed to provide cost effective and reliable launch services to our customers and serve as an interplanetary launch system,” Tice said.


Company: cnbc, Activity: cnbc, Date: 2019-07-25  Authors: michael sheetz
Keywords: news, cnbc, companies, system, today, vehicle, stops, short, starship, tice, attempts, test, rocket, flight, lift, fires, engine, prototype, spacex


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post