Monthly Archives: August 2020
Powell to speak next Thursday on Fed’s new inflation-friendly strategy
(Marketwatch) Fed Chairman Jerome Powell will speak next Thursday on how the central bank plans to achieve its twin goals of stable prices and maximum employment once the coronavirus pandemic has ended. The Fed has spent the past year reviewing […]
Johnson & Johnson adds to debt frenzy, borrows $7.5 billion to buy Momenta
(Marketwatch) Johnson & Johnson leveraged its top AAA credit ratings on Thursday to borrow $7.5 billion worth of cheap funding for its buyout of Momenta Pharmaceuticals, Inc. J&J, which makes drugs, consumer goods and medical devices, stands as the only […]
These market-beating stocks are still hedge-fund favorites
(Marketwatch) The stocks favored by big hedge funds continue to outpace gains by the broader market in 2020, but the ride is getting rougher thanks to rotation away from highflying growth stocks, says RBC Capital Markets. The chart below tracks […]
Tesla stock surges past $2,000 to end at fresh record
(Marketwatch) Tesla Inc. TSLA, +6.56% shares gained more than 6% on Thursday to end at a record $2,001.83 and setting an intraday record of $2,021.99. The stock slipped on Wednesday, snapping a five-session winning streak and a 37% gain in […]
U.S. stock futures rise as Wall Street tries to end a record-setting week on a high note
(CNBC) U.S. stock futures rose on Thursday night as traders were set to end a week which saw the broader market reach a record level. Dow Jones Industrial Average futures traded 101 points higher, or 0.4%. S&P 500 and Nasdaq […]
American Airlines halting service to 15 small cities after federal aid runs out in October
(CNBC) American Airlines said Thursday it plans to suspend service to 15 small U.S. cities with low demand in October after the terms of federal aid requiring the flights expires, a move that would cut off scheduled flights to nine destinations […]
CFTC Orders The Bank of Nova Scotia to Pay $127.4 Million for Spoofing, False Statements, Compliance and Supervision Violations.
(HedgeCo.Net) The Commodity Futures Trading Commission today issued three orders filing and settling charges against The Bank of Nova Scotia (BNS), a provisionally registered swap dealer, resolving two separate enforcement actions. The combined orders require BNS to pay $127.4 million […]
Apple becomes first U.S. company to reach a $2 trillion market cap
(CNBC) Apple hit a market cap of $2 trillion Wednesday, doubling in valuation in just over two years to become the first publicly traded U.S. company to reach the milestone. Based on a share count of more than 4.275 billion, Apple […]
Hedge funds up 3.29 per cent in July, says Preqin
(Hedgeweek) Hedge funds continued their strong performance in July, with the Preqin All-Strategies Hedge Fund benchmark gaining 3.29 per cent, compared to June’s +2.53 per cent. To read this article:
Dow futures drop 200 points after the Fed highlights economic uncertainty
(CNBC) Futures contracts tied to the major U.S. stock indexes fell during extended trading Wednesday evening. Dow Jones Industrial Average futures dropped 207 points. S&P 500 and Nasdaq-100 futures also traded in negative territory To read this article:
‘Impressive’ economic recovery will drive stocks to new highs through 2021, Wall Street bull Phil Orlando predicts
(CNBC) Federated Hermes’ Phil Orlando sees a lot going right for the rally. With the S&P 500 hitting all-time highs twice so far this week, the firm’s chief equity market strategist is optimistic the economic recovery will continue to support […]
Barclay CTA Index gains 1.63% in July
(Opalesque) Managed futures funds were profitable in July as the CTA industry realized a 1.63% monthly gain, according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. For the year-to-date CTAs were up 2.49% through July. […]