admin@quantsalus.com

  24/7 feedback

  

News

  • 16.07.2019 | Stocks - Wall Street Flat After Mixed Bank Earnings




    Investing.com – Wall Street was flat on Tuesday after mixed earnings from Goldman Sachs (NYSE:GS), JP Morgan and Wells Fargo (NYSE:WFC) reminded investors of uncertainties to the economic outlook - and of some negative consequences of interest rate cuts from the Federal Reserve. The Dow Jones Industrial Average rose 14 points or 0.1% by 9:45 AM ET (13:45 GMT), while the S&P 500 was down half a point or 0.1% and the Nasdaq composite fell 3 points or 0.1%. JP Morgan reported better-than-expected earnings, but its interest margin slipped, just a day after Citigroup (NYSE:C) also reported a similar fall. The results caused concerns that lower interest rates are hurting profits on lending. That's especially worrying, given that the banks' U.S. lending operations, notably to consumers, have performed better than their markets-based businesses. The Federal Reserve is expected to cut interest rates by 25 basis points at the end of the month. JPMorgan chief financial officer Marianne Lake told analysts that the bank's new forecasts, which included a cut in expectations for net interest income, are based on assumptions of three rate cuts this year. JPMorgan (NYSE:JPM) inched down 0.2%, while Goldman Sachs rose 2.3% after its results were better than expected, despite a 6% fall in quarterly profit. Wells Fargo slipped 0.7% - also on lending margin concerns - even though earnings topped forecasts. In other news, Domino’s Pizza slumped 4.7% after its sales were below estimates, while Johnson & Johnson (NYSE:JNJ) fell 0.8% after the company was unable to give clear guidance on the cost of legal proceedings that claim its talcum powder caused ovarian cancer. Elsewhere, Facebook (NASDAQ:FB) rose 0.6% ahead of a grilling in the Senate on its Libra digital currency project; Boeing (NYSE:BA) gained 0.2% and Beyond Meat was up 1.1%. In commodities, crude oil rose 0.5% to $59.92 a barrel. Gold futures were flat at $1,413.85 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.4% to 96.905. The dollar hit a two-year high against sterling on perceptions that a "hard" Brexit is increasingly likely.   © Reuters.   https://quantsalus.com/contacts/...

    Investing.com – Wall Street was flat on Tuesday after mixed earnings from Goldman Sachs (NYSE:GS), JP Morgan and Wells Fargo (NYSE:WFC) reminded investors of uncertainties to the economic outlook - and of some negative consequences of interest rate cuts from the Federal Reserve.

    The Dow Jones Industrial Average rose 14 points or 0.1% by 9:45 AM ET (13:45 GMT), while the S&P 500 was down half a point or 0.1% and the Nasdaq composite fell 3 points or 0.1%.

    JP Morgan reported better-than-expected earnings, but its interest margin slipped, just a day after Citigroup (NYSE:C) also reported a similar fall. The results caused concerns that lower interest rates are hurting profits on lending. That's especially worrying, given that the banks' U.S. lending operations, notably to consumers, have performed better than their markets-based businesses.

    The Federal Reserve is expected to cut interest rates by 25 basis points at the end of the month. JPMorgan chief financial officer Marianne Lake told analysts that the bank's new forecasts, which included a cut in expectations for net interest income, are based on assumptions of three rate cuts this year.

    JPMorgan (NYSE:JPM) inched down 0.2%, while Goldman Sachs rose 2.3% after its results were better than expected, despite a 6% fall in quarterly profit. Wells Fargo slipped 0.7% - also on lending margin concerns - even though earnings topped forecasts.

    In other news, Domino’s Pizza slumped 4.7% after its sales were below estimates, while Johnson & Johnson (NYSE:JNJ) fell 0.8% after the company was unable to give clear guidance on the cost of legal proceedings that claim its talcum powder caused ovarian cancer.

    Elsewhere, Facebook (NASDAQ:FB) rose 0.6% ahead of a grilling in the Senate on its Libra digital currency project; Boeing (NYSE:BA) gained 0.2% and Beyond Meat was up 1.1%.

    In commodities, crude oil rose 0.5% to $59.92 a barrel. Gold futures were flat at $1,413.85 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.4% to 96.905. The dollar hit a two-year high against sterling on perceptions that a "hard" Brexit is increasingly likely.

     

    © Reuters.

     

    https://quantsalus.com/contacts/


    15.07.2019 | Gold Fairly Steady in Final 2-Week Window to Fed Cut




    By Barani Krishnan Investing.com - With just two weeks before a potential U.S. interest rate cut, there seems to be little that could suppress gold prices. The yellow metal largely held its own on Monday against bullish Empire State manufacturing numbers and other positive data out of China, proving solid demand among investors for an alternative store of value in an environment marked by decreasing yields ahead of the expected Federal Reserve rate cut. Spot gold, reflective of trades in bullion, traded at $1,412.69 per ounce by 2:55 PM ET (18:55 GMT), down $2.82, or 0.2 %, on the day. But gold futures for August delivery traded on the Comex division of the New York Mercantile Exchange, settled up $1.30, or 0.01%, at $1,413.50. “Gold is steady in spite of record equities, and China’s relative economic numbers adding to the growth around the globe,” said George Gero, precious metals analyst at RBC Wealth Management in New York. “Gold futures still indicate a rate cut and dovish Fed comments are helpful to gold. Traders still buy good dips, so gold has seen bargain hunters active after each major setback recently,” Gero said. The New York Fed said that its Empire State manufacturing index for July came in at 4.3, compared with -8.6 in June. That bumped up the U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies. The index gained 0.13% to 96.94 by 3:14 PM ET. An appreciation in the dollar is usually bearish to gold, but not on Monday. China’s upbeat readings on industrial production, retail sales and capital spending in June offset the worst GDP growth in 27 years during the second quarter. That, too, did not impact gold negatively. The Fed is widely expected to cut interest rates at the end of the month for the first time in a decade, lowering the opportunity cost of holding non-yielding bullion. As expectations for further policy easing across the globe increase, yields have been dropping on most fixed-income products, even those traditionally seen as high-risk in economic downturns. Mohamed El-Erian, chief economist at Allianz (DE:ALVG), tweeted that “even some high yield (‘junk’) bonds now trade at negative yields -- ie, creditors PAY for the privilege of financing companies with notable default risk." More than $13 trillion of bonds worldwide currently carry negative yields. John Reade, chief market strategist at the World Gold Council, suggested that, while gold has essentially been range-bound for the last three weeks, some of its technical factors are improving. Reade said that “the extreme overbought condition saw in June has moderated a lot”, while the “50-day moving average is climbing, making gold look less extended."   © Reuters.   https://quantsalus.com/about/...

    By Barani Krishnan

    Investing.com - With just two weeks before a potential U.S. interest rate cut, there seems to be little that could suppress gold prices.

    The yellow metal largely held its own on Monday against bullish Empire State manufacturing numbers and other positive data out of China, proving solid demand among investors for an alternative store of value in an environment marked by decreasing yields ahead of the expected Federal Reserve rate cut.

    Spot gold, reflective of trades in bullion, traded at $1,412.69 per ounce by 2:55 PM ET (18:55 GMT), down $2.82, or 0.2 %, on the day.

    But gold futures for August delivery traded on the Comex division of the New York Mercantile Exchange, settled up $1.30, or 0.01%, at $1,413.50.

    “Gold is steady in spite of record equities, and China’s relative economic numbers adding to the growth around the globe,” said George Gero, precious metals analyst at RBC Wealth Management in New York.

    “Gold futures still indicate a rate cut and dovish Fed comments are helpful to gold. Traders still buy good dips, so gold has seen bargain hunters active after each major setback recently,” Gero said.

    The New York Fed said that its Empire State manufacturing index for July came in at 4.3, compared with -8.6 in June. That bumped up the U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies. The index gained 0.13% to 96.94 by 3:14 PM ET. An appreciation in the dollar is usually bearish to gold, but not on Monday.

    China’s upbeat readings on industrial production, retail sales and capital spending in June offset the worst GDP growth in 27 years during the second quarter. That, too, did not impact gold negatively.

    The Fed is widely expected to cut interest rates at the end of the month for the first time in a decade, lowering the opportunity cost of holding non-yielding bullion.

    As expectations for further policy easing across the globe increase, yields have been dropping on most fixed-income products, even those traditionally seen as high-risk in economic downturns.

    Mohamed El-Erian, chief economist at Allianz (DE:ALVG), tweeted that “even some high yield (‘junk’) bonds now trade at negative yields -- ie, creditors PAY for the privilege of financing companies with notable default risk."

    More than $13 trillion of bonds worldwide currently carry negative yields.

    John Reade, chief market strategist at the World Gold Council, suggested that, while gold has essentially been range-bound for the last three weeks, some of its technical factors are improving.

    Reade said that “the extreme overbought condition saw in June has moderated a lot”, while the “50-day moving average is climbing, making gold look less extended."

     

    © Reuters.

     

    https://quantsalus.com/about/


    14.07.2019 | Officials seek answers after blackout in New York's Manhattan




    NEW YORK (Reuters) - Government and utility officials were still searching for definite reasons on Sunday for a five-hour blackout in a large section of New York City's Manhattan borough that left 73,000 customers without power on Saturday. No deaths or injuries resulted from the blackout that stretched from West 30th Street to West 72nd Street, an area filled with tourist attractions and Broadway theaters. A transformer explosion at West 49th Street cascaded into a widespread outage that cut power subways, homes and businesses. Mayor Bill de Blasio said the city and Consolidation Edison Co. of New York, the city's main utility, ruled out a surge in usage as a factor for the blackout on Saturday. Neither a cyber attack nor a terrorist act were to blame, de Blasio added at a press conference. "Definite causes will take some time" to figure out, he said. Activity in the Times Square (NYSE:SQ) appeared back to normal on Sunday. Traffic and subways returned to their summer weekend flow. Broadway theaters reopened after shows were canceled the evening before. During Saturday's blackout, Broadway performers entertained on sidewalks to delighted crowds, while a few citizens directed cars and trucks after traffic lights went down. Con Edison President Timothy Cawley assured that its electrical system will be able to handle a pickup in demand in air conditioning in the coming days. "We are prepared to the end of the week," he said. "We could still serve the system on the hottest day of the year." The city is bracing for daily peak temperature in the high-80s to low-90s Fahrenheit (low-to-mid 30 Celsius) over the next five days, according to the National Weather Service.     https://quantsalus.com/contacts/...

    NEW YORK (Reuters) - Government and utility officials were still searching for definite reasons on Sunday for a five-hour blackout in a large section of New York City's Manhattan borough that left 73,000 customers without power on Saturday.

    No deaths or injuries resulted from the blackout that stretched from West 30th Street to West 72nd Street, an area filled with tourist attractions and Broadway theaters.

    A transformer explosion at West 49th Street cascaded into a widespread outage that cut power subways, homes and businesses.

    Mayor Bill de Blasio said the city and Consolidation Edison Co. of New York, the city's main utility, ruled out a surge in usage as a factor for the blackout on Saturday.

    Neither a cyber attack nor a terrorist act were to blame, de Blasio added at a press conference. "Definite causes will take some time" to figure out, he said.

    Activity in the Times Square (NYSE:SQ) appeared back to normal on Sunday. Traffic and subways returned to their summer weekend flow.

    Broadway theaters reopened after shows were canceled the evening before.

    During Saturday's blackout, Broadway performers entertained on sidewalks to delighted crowds, while a few citizens directed cars and trucks after traffic lights went down.

    Con Edison President Timothy Cawley assured that its electrical system will be able to handle a pickup in demand in air conditioning in the coming days. "We are prepared to the end of the week," he said. "We could still serve the system on the hottest day of the year."

    The city is bracing for daily peak temperature in the high-80s to low-90s Fahrenheit (low-to-mid 30 Celsius) over the next five days, according to the National Weather Service.

     

     

    https://quantsalus.com/contacts/


    12.07.2019 | Bitcoin Down, but on Track to Snap Losing Streak




    Investing.com -- Bitcoin turned negative on Friday, but remained on track to snap a two-week losing streak despite negative comments from President Donald Trump. Bitcoin fell 0.5% to $11,584, but above a session low $11,109. Bitcoin was up as high as $11,738 intraday as traders assessed Trump's criticism of the popular crypto and Facebook’s upcoming launch of its Libra crypto. “I am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” Trump wrote on Twitter. “If Facebook (NASDAQ:FB) and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National and International,” he added. Trump’s comments come as the crypto community prepares for more bashing from lawmakers about the risk of digital currencies, with Facebook (NASDAQ:FB) slated for hearings next week before both the House Financial Services Committee and the Senate Banking Committee to discuss its crypto project. Federal Reserve Chairman Jerome Powell warned earlier this week that Libra could not progress unless the social media company resolved “serious concerns” over “privacy, money laundering, consumer protection and financial stability.” Other cryptos bucked the trend lower, with XRP rising 5.57% to $0.34728, Ethereum flat at $273.67 and Litecoin up 0.51% to $104.87.   © Reuters.   https://quantsalus.com/rules/...

    Investing.com -- Bitcoin turned negative on Friday, but remained on track to snap a two-week losing streak despite negative comments from President Donald Trump.

    Bitcoin fell 0.5% to $11,584, but above a session low $11,109. Bitcoin was up as high as $11,738 intraday as traders assessed Trump's criticism of the popular crypto and Facebook’s upcoming launch of its Libra crypto.

    “I am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” Trump wrote on Twitter.

    “If Facebook (NASDAQ:FB) and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National and International,” he added.

    Trump’s comments come as the crypto community prepares for more bashing from lawmakers about the risk of digital currencies, with Facebook (NASDAQ:FB) slated for hearings next week before both the House Financial Services Committee and the Senate Banking Committee to discuss its crypto project.

    Federal Reserve Chairman Jerome Powell warned earlier this week that Libra could not progress unless the social media company resolved “serious concerns” over “privacy, money laundering, consumer protection and financial stability.”

    Other cryptos bucked the trend lower, with XRP rising 5.57% to $0.34728, Ethereum flat at $273.67 and Litecoin up 0.51% to $104.87.

     

    © Reuters.

     

    https://quantsalus.com/rules/


    11.07.2019 | Gold Pushes Well Above $1,400 on Powell's Rate-Cut Hint




    By Barani Krishnan Investing.com – Jay Powell uttered the magic words: “Will act as appropriate” to counter slowing business investments and growing economic uncertainties. The only question now is, will the Fed chairman convert those words, which he's been uttering for the last month or so, into an interest-rate rate cut at the central bank’s meeting later in the month. Gold investors think the rate cut is surely coming and pushed gold prices forcefully above $1,400 an ounce on Wednesday after Powell’s testimony on business and economic conditions to the House Financial Services Committee. Spot gold, reflective of trades in bullion, traded at $1,413.65 per ounce by 1:13 PM ET (16:35 GMT), up $13.15, or 0.9%, on the day. The session high was $1,414.95. Gold futures for August delivery, traded on the Comex division of the New York Mercantile Exchange, settled up $12, or 0.9%, to $1,412.50. Investors have rushed into gold over the past two months, pushing the yellow metal from $1,200 levels to $1,400, as talk of a rate cut came into play. A rate cut will weaken the U.S. dollar and boost gold. In fact, the Dollar Index, which pits the greenback against a basket of currencies, fell 0.4%, its most in a day since June 21. Powell’s testimony came ahead of a key event awaited by gold investors: release of the June meeting minutes of the Federal Reserve that would give an insight on why the central bank abstained from a rate cut last month, and how different things could be this time. The Fed chief has been under tremendous pressure from President Donald Trump, who has all but threatened to fire him if he doesn’t authorize a rate cut soon. Powell has maintained that he will not be politically cowed and will not resign even if Trump demands it. “Powell knows that if he pushes rate cuts expectations out until September, then that could trigger a furious response from both Donald Trump and the dollar, while stocks could fall further,” said Fawad Razaqzada, analyst on precious metals and currencies at FOREX.com in London. “Thus, he will probably err on the side of caution and offer little in the way of strong hints about policy direction in the upcoming meetings,” Razaqzada said, citing pending consumer inflation figures as another key indicator for Fed action. Business investments across the United States have slowed recently as uncertainties over the economic outlook linger, Powell said in prepared testimony to the House Financial Services Committee. “Inflation has been running below the Federal Open Market Committee’s (FOMC) symmetric 2 percent objective, and crosscurrents, such as trade tensions and concerns about global growth, have been weighing on economic activity and the outlook,” he said, reiterating the central bank will “act as appropriate” to sustain the current economic expansion. Investing.com's Fed Rate Monitor Tool continutes to suggest a 100% chance the Fed will cut its key federal funds rate from 2.25%-2.5% to 2%-2.25% in July. Powell also said in a recent speech “an ounce of prevention is worth more than a pound of cure,” a hint that the central bank might lean toward a so-called insurance cut to head off a potential economic slowdown. Yet, some market participants had scaled back expectations that a July cut is almost a certainty after a 224,000-strong jobs growth in June signaled the economy may be too strong for an easing. The forecast jobs expansion was only 160,000. Other Fed bankers lined up to speak this week are New York Fed President John Williams (NYSE:WMB), St Louis Fed president James Bullard, Fed Atlanta President Raphael Bostic, Fed Vice Chair for Supervision Randal Quarles, Richmond Fed President Thomas Barkin and Minneapolis Fed President Neel Kashkari. Of these, the most closely watched would be Bullard, who was the only dissenting voice at the June Fed meeting, when the central bank decided to hold rates. The St. Louis Fed president is one of the more dovish members of the central bank’s policy-setting Federal Market Open Committee, or FOMC.   © Reuters.   https://quantsalus.com/faq/...

    By Barani Krishnan

    Investing.com – Jay Powell uttered the magic words: “Will act as appropriate” to counter slowing business investments and growing economic uncertainties.

    The only question now is, will the Fed chairman convert those words, which he's been uttering for the last month or so, into an interest-rate rate cut at the central bank’s meeting later in the month.

    Gold investors think the rate cut is surely coming and pushed gold prices forcefully above $1,400 an ounce on Wednesday after Powell’s testimony on business and economic conditions to the House Financial Services Committee.

    Spot gold, reflective of trades in bullion, traded at $1,413.65 per ounce by 1:13 PM ET (16:35 GMT), up $13.15, or 0.9%, on the day. The session high was $1,414.95.

    Gold futures for August delivery, traded on the Comex division of the New York Mercantile Exchange, settled up $12, or 0.9%, to $1,412.50.

    Investors have rushed into gold over the past two months, pushing the yellow metal from $1,200 levels to $1,400, as talk of a rate cut came into play. A rate cut will weaken the U.S. dollar and boost gold. In fact, the Dollar Index, which pits the greenback against a basket of currencies, fell 0.4%, its most in a day since June 21.

    Powell’s testimony came ahead of a key event awaited by gold investors: release of the June meeting minutes of the Federal Reserve that would give an insight on why the central bank abstained from a rate cut last month, and how different things could be this time.

    The Fed chief has been under tremendous pressure from President Donald Trump, who has all but threatened to fire him if he doesn’t authorize a rate cut soon. Powell has maintained that he will not be politically cowed and will not resign even if Trump demands it.

    “Powell knows that if he pushes rate cuts expectations out until September, then that could trigger a furious response from both Donald Trump and the dollar, while stocks could fall further,” said Fawad Razaqzada, analyst on precious metals and currencies at FOREX.com in London.

    “Thus, he will probably err on the side of caution and offer little in the way of strong hints about policy direction in the upcoming meetings,” Razaqzada said, citing pending consumer inflation figures as another key indicator for Fed action.

    Business investments across the United States have slowed recently as uncertainties over the economic outlook linger, Powell said in prepared testimony to the House Financial Services Committee.

    “Inflation has been running below the Federal Open Market Committee’s (FOMC) symmetric 2 percent objective, and crosscurrents, such as trade tensions and concerns about global growth, have been weighing on economic activity and the outlook,” he said, reiterating the central bank will “act as appropriate” to sustain the current economic expansion.

    Investing.com's Fed Rate Monitor Tool continutes to suggest a 100% chance the Fed will cut its key federal funds rate from 2.25%-2.5% to 2%-2.25% in July. Powell also said in a recent speech “an ounce of prevention is worth more than a pound of cure,” a hint that the central bank might lean toward a so-called insurance cut to head off a potential economic slowdown.

    Yet, some market participants had scaled back expectations that a July cut is almost a certainty after a 224,000-strong jobs growth in June signaled the economy may be too strong for an easing. The forecast jobs expansion was only 160,000.

    Other Fed bankers lined up to speak this week are New York Fed President John Williams (NYSE:WMB), St Louis Fed president James Bullard, Fed Atlanta President Raphael Bostic, Fed Vice Chair for Supervision Randal Quarles, Richmond Fed President Thomas Barkin and Minneapolis Fed President Neel Kashkari.

    Of these, the most closely watched would be Bullard, who was the only dissenting voice at the June Fed meeting, when the central bank decided to hold rates. The St. Louis Fed president is one of the more dovish members of the central bank’s policy-setting Federal Market Open Committee, or FOMC.

     

    © Reuters.

     

    https://quantsalus.com/faq/


    10.07.2019 | Bitcoins Rise Not Shared by Crypto Rivals, Market Dominance Hits 19-Month High




    Investing.com - Bitcoin traded higher on Wednesday, extending its rally to five days and pushing the crypto sector higher, despite losses registered by its closest rival alt coins. Bitcoin jumped 5.6% to $12,992.8 on the Investing.com Index by 8:27 AM ET (12:27 GMT), in a move that lacked clear triggers. It has been on a tear since the Federal Reserve signalled that it would stop raising interest rates, and has continued to gain as the prospect of a new cycle of interest rate cuts has loomed ever larger. While Bitcoin remained below its 2019 high, the largest alt coin has climbed to 65% of total cryptocurrency market capitalization, its highest level since the beginning of December 2017, according to a report from cryptocurrency website Cryptopotato. That was just before the height of the cryptocurrency frenzy took bitcoin to nearly $20,000 before plummeting to almost $3,000. Accordingly, the largest cryptocurrency was the main driver for overall gains in the sector on Wednesday as total market cap rose to $356.34 billion, compared to $348.23 billion a day earlier. Among its closest rivals, Ethereum dropped 0.8% to $307.72, XRP fell 0.9% to $0.3911, while Litecoin traded down 1.0% to $118.271. Matt Simpson, technical analyst at trading house City Index, said in a note on Wednesday that bitcoin had potential to hit new highs for the year as the bias will remain bullish above $12,100. Beyond the year’s high of $13,929.8, Simpson suggested that current charts pointed to an initial target of around $14,290. “But (it) can eventually travel further and is certainly something to consider given the strength of the underlying trend,” he said. In other cryptocurrency news, Fortune reported Wednesday that Visa (NYSE:V) has invested millions of dollars in Anchorage, a startup that secures digital coin holdings for institutional investors. The financial magazine noted that it was the second known investment from Visa (NYSE:V) in a cryptocurrency startup and that both companies were founding members of Libra, a digital coin project pioneered by Facebook (NASDAQ:FB).   © Reuters.   https://quantsalus.com/news/...

    Investing.com - Bitcoin traded higher on Wednesday, extending its rally to five days and pushing the crypto sector higher, despite losses registered by its closest rival alt coins.

    Bitcoin jumped 5.6% to $12,992.8 on the Investing.com Index by 8:27 AM ET (12:27 GMT), in a move that lacked clear triggers. It has been on a tear since the Federal Reserve signalled that it would stop raising interest rates, and has continued to gain as the prospect of a new cycle of interest rate cuts has loomed ever larger.

    While Bitcoin remained below its 2019 high, the largest alt coin has climbed to 65% of total cryptocurrency market capitalization, its highest level since the beginning of December 2017, according to a report from cryptocurrency website Cryptopotato. That was just before the height of the cryptocurrency frenzy took bitcoin to nearly $20,000 before plummeting to almost $3,000.

    Accordingly, the largest cryptocurrency was the main driver for overall gains in the sector on Wednesday as total market cap rose to $356.34 billion, compared to $348.23 billion a day earlier.

    Among its closest rivals, Ethereum dropped 0.8% to $307.72, XRP fell 0.9% to $0.3911, while Litecoin traded down 1.0% to $118.271.

    Matt Simpson, technical analyst at trading house City Index, said in a note on Wednesday that bitcoin had potential to hit new highs for the year as the bias will remain bullish above $12,100.

    Beyond the year’s high of $13,929.8, Simpson suggested that current charts pointed to an initial target of around $14,290. “But (it) can eventually travel further and is certainly something to consider given the strength of the underlying trend,” he said.

    In other cryptocurrency news, Fortune reported Wednesday that Visa (NYSE:V) has invested millions of dollars in Anchorage, a startup that secures digital coin holdings for institutional investors.

    The financial magazine noted that it was the second known investment from Visa (NYSE:V) in a cryptocurrency startup and that both companies were founding members of Libra, a digital coin project pioneered by Facebook (NASDAQ:FB).

     

    © Reuters.

     

    https://quantsalus.com/news/


    09.07.2019 | Boeing deliveries fall 37%, set to lose biggest planemaker title




    By Ankit Ajmera (Reuters) - Boeing Co (N:BA) is set to lose the title of being the world's biggest planemaker after reporting a 37% drop in deliveries for the first half of the year due to the prolonged grounding of its best-selling MAX jets. Boeing deliveries lagged those of Airbus SE (PA:AIR), which on Tuesday said it handed over 389 planes in the same period, up 28% from a year earlier. Reuters had reported Airbus delivery numbers on Friday, citing sources. The numbers indicate that Boeing's full-year deliveries are likely to fall behind its European rival for the first time in eight years. A new problem identified with the grounded MAX jets last month has delayed the aircraft's entry into service until at least the end of September, disrupting schedules for airline operators and possibly adding to costs for Boeing. To cope with the fallout after the grounding, Boeing has slowed production to 42 MAX jets per month from 52 earlier, causing the planemaker to take a $1 billion charge in the first quarter. J.P. Morgan analyst Seth Seifman has speculated that the new delay could prompt Boeing to consider another production cut and book an additional charge in the second quarter, hurting 737 margins further. Deliveries of the MAX aircraft were stopped in March after an Ethiopian Airlines crash killed all 157 people on board. Since then, Boeing has not reported any new order for the MAX planes. (For a graphic on 'Boeing trails Airbus in 2019', click here https://tmsnrt.rs/2YKggIw) Click here to view the interactive chart https://tmsnrt.rs/2YLEgLE. Several analysts have lowered their full year 2019 delivery estimates for the MAX, and many do not expect the aircraft to be handed over to customers before December. Last month, Jefferies analyst Sheila Kahyaoglu said she expected zero MAX deliveries in the second and the third quarters of 2019, with full-year MAX deliveries around 236. Boeing delivered a total of 580 737s in 2018. The American planemaker's net orders for the first six months were in the negative territory, with a total of minus 119 net orders, lagging Airbus which won 88 net orders between January and June. A few airlines have shown confidence in the MAX since the fatal crash, with British Airways-owner IAG (LON:ICAG) last month signing a letter of intent to order 200 versions of the aircraft. Boeing shares were up 0.2% at $351.96 in afternoon trade.   © Reuters. Unpainted Boeing 737 MAX aircraft are seen parked at Renton Municipal Airport in Renton   https://quantsalus.com/rules/...

    By Ankit Ajmera

    (Reuters) - Boeing Co (N:BA) is set to lose the title of being the world's biggest planemaker after reporting a 37% drop in deliveries for the first half of the year due to the prolonged grounding of its best-selling MAX jets.

    Boeing deliveries lagged those of Airbus SE (PA:AIR), which on Tuesday said it handed over 389 planes in the same period, up 28% from a year earlier. Reuters had reported Airbus delivery numbers on Friday, citing sources.

    The numbers indicate that Boeing's full-year deliveries are likely to fall behind its European rival for the first time in eight years.

    A new problem identified with the grounded MAX jets last month has delayed the aircraft's entry into service until at least the end of September, disrupting schedules for airline operators and possibly adding to costs for Boeing.

    To cope with the fallout after the grounding, Boeing has slowed production to 42 MAX jets per month from 52 earlier, causing the planemaker to take a $1 billion charge in the first quarter.

    J.P. Morgan analyst Seth Seifman has speculated that the new delay could prompt Boeing to consider another production cut and book an additional charge in the second quarter, hurting 737 margins further.

    Deliveries of the MAX aircraft were stopped in March after an Ethiopian Airlines crash killed all 157 people on board. Since then, Boeing has not reported any new order for the MAX planes.

    (For a graphic on 'Boeing trails Airbus in 2019', click here https://tmsnrt.rs/2YKggIw)

    Click here to view the interactive chart https://tmsnrt.rs/2YLEgLE.

    Several analysts have lowered their full year 2019 delivery estimates for the MAX, and many do not expect the aircraft to be handed over to customers before December.

    Last month, Jefferies analyst Sheila Kahyaoglu said she expected zero MAX deliveries in the second and the third quarters of 2019, with full-year MAX deliveries around 236. Boeing delivered a total of 580 737s in 2018.

    The American planemaker's net orders for the first six months were in the negative territory, with a total of minus 119 net orders, lagging Airbus which won 88 net orders between January and June.

    A few airlines have shown confidence in the MAX since the fatal crash, with British Airways-owner IAG (LON:ICAG) last month signing a letter of intent to order 200 versions of the aircraft.

    Boeing shares were up 0.2% at $351.96 in afternoon trade.

     

    © Reuters. Unpainted Boeing 737 MAX aircraft are seen parked at Renton Municipal Airport in Renton

     

    https://quantsalus.com/rules/


    08.07.2019 | European shares edge lower, Deutsche Bank rally limits losses




    (Reuters) - European shares declined on Monday on sobering expectations of an aggressive interest rate cut this month by the U.S. Federal Reserve, but the losses were limited by a 2.7% jump in Deutsche Bank after it announced job cuts and launched a major overhaul. Shares of the German lender (DE:DBKGn) touched their highest since early May after it announced a restructuring plan that will cost 7.4 billion euros ($8.3 billion) and see it undo years of work that had aimed to make its investment bank a major force on Wall Street. The move comes after Chief Executive Officer Christian Sewing had flagged the restructuring in May, seeking to convince shareholders that he can turn around Germany's biggest lender after shares hit a record low. This limited the slide in broader Europe, with the pan-European STOXX 600 index (STOXX) down 0.07% by 0707 GMT, as they followed Asian shares into the red. Defensive stocks and financials weighed on the benchmark as it extended last session's decline after strong U.S. jobs data saw investors trimming bets of a 50 basis point interest rate cut by the Federal Reserve in July. Much of the global stocks rally since June has been spurred by expectations of an accommodative monetary policy by major central banks to tackle slowing growth as the damaging trade war between United States and China takes its toll.   (The story corrects milestone on Deutsche Bank shares in paragraph two to highest since 'early May', not 'late April'.)     https://quantsalus.com/about/...

    (Reuters) - European shares declined on Monday on sobering expectations of an aggressive interest rate cut this month by the U.S. Federal Reserve, but the losses were limited by a 2.7% jump in Deutsche Bank after it announced job cuts and launched a major overhaul.

    Shares of the German lender (DE:DBKGn) touched their highest since early May after it announced a restructuring plan that will cost 7.4 billion euros ($8.3 billion) and see it undo years of work that had aimed to make its investment bank a major force on Wall Street.

    The move comes after Chief Executive Officer Christian Sewing had flagged the restructuring in May, seeking to convince shareholders that he can turn around Germany's biggest lender after shares hit a record low.

    This limited the slide in broader Europe, with the pan-European STOXX 600 index (STOXX) down 0.07% by 0707 GMT, as they followed Asian shares into the red.

    Defensive stocks and financials weighed on the benchmark as it extended last session's decline after strong U.S. jobs data saw investors trimming bets of a 50 basis point interest rate cut by the Federal Reserve in July.

    Much of the global stocks rally since June has been spurred by expectations of an accommodative monetary policy by major central banks to tackle slowing growth as the damaging trade war between United States and China takes its toll.

     

    (The story corrects milestone on Deutsche Bank shares in paragraph two to highest since 'early May', not 'late April'.)

     

     

    https://quantsalus.com/about/


    05.07.2019 | The Business of sustainability: is the world of finance ready to go green?




    Investors are increasingly keen on putting their money into sustainable projects. From the traditional greenwashing, they’re shifting to a real investment, with the perspective of making profits, and helping the Planet survive. Investing in “dirty” sectors has become riskier, and at a medium-long term, everyone agrees that there’s no future in keeping polluting the Earth. The second edition of the Transition Forum, organised by private equities specialists Aqua Asset Management under the patronage of His Serene Highness Albert II, Prince of Monaco, gathered some 250 participants between Corporate actors (30%) financial (15%) non-profit organisations (15%) startups and regional representatives. The theme of this edition was “Shifting to Sustainable Lifestyles”. The Forum organised keynote speeches, but also meetings with entrepreneurs on the key themes of Mobility, Food, Housing, and Production & Consumption. It also proposed networking sessions allowing investors to meet the startups. 'We all agree it's very urgent'The first consensus at the Forum was that it is urgent, very urgent to act. The record heatwave that struck Europe on June 26 and 27, and didn’t spare Monaco was somehow highlighting it. Multi-Michelin Starred Chef Pierre Gagnaire explained how he is a witness to degradation. “I have known a time where turbots weighed 15 kilos. Now a big turbot is about 4 kilograms”. He nevertheless feels optimistic when he sees serious initiatives empowering the shift towards a sustainable economy. French primatologist Sabrina Krief also called to act promptly by explaining the impact of human activity on Ugandan chimpanzees. The primates in the area are born with deformities, fertility problems probably due to the impacts of intensive tea monoculture in the region. Also striking, the call of serial entrepreneur Gunter Pauli to stop plastic pollution “I’m fed up of hearing about the analysis and reports. We need to start going into action. Birds and fish are dying because their liver is being mummified by microplastics”. He is currently working on a project to tackle the problem of microplastics along the coast of Morocco through an innovative seaweed curtains system. “We all want to change the world, as the Beatles sung in 'Revolution', in the same manner, many people say they want to stop Climate Change, but the evidence shows that those words are not always followed by action,” said Transition Forum co-founder Lionel le Maux. The Forum started last year to bring together a network of experts from all boards, entrepreneurs, NGO and investors. Lionel Le Maux at the opening of the Transition Forum Marina Canossa/© Transition Forum Ok, let’s change the world. But how?The Transition Forum also reflected some of the difficulties around this shift to a sustainable economy, as there is no a single way to understand what it means. Does it make sense to remove all fossil fuel cars from our roads then start buying electric vehicles at a massive scale? Would that be sustainable if the most populated countries do the same? Of course, it is, and would be a tremendous business but: Is it really sustainable? The solution for some is to shift to less polluting organic fuels like biogas, others will tell you that the only way forward is to improve public transport infrastructures or even developing car sharing, automated cars, electric scooter or electric bicycle models. Mobility adviser and visionary Timothy Papandreou thinks that the future is a wise mix of all these. On food, the debate turns around the production models. Chef Pierre Gagnaire dismissed the "all organic" fashion saying that the reasonable production and consumption is the way forward. But the proposals to take the way of food transition are very diverse: from using microalgae as a natural pesticide to flies as a source of protein for poultry and fish farming... There is no a magic recipe either to tackle the sustainable housing and the cities of the future, but the Forum showed some of them: from those who think that the future cities should be hyper connected through fibre to those proposing solutions for low environmental impact construction materials, or reusing the existing structures. French filmmaker and diver Julie Gauthier made passionate advocacy of economic decrease as the only real solution to spare the Blue Planet from disaster. “The Green economy, new ways of consumption are very important, but it has to go along with an economic degrowth, we can’t only focus on consuming ‘better’ and more, we have to reduce consumption”. Julie Gauthier defends economic decrease as a solution for environmental crisis Marina Canossa/© Transition Forum Is the economy ready to go green?Our economic and financial model is often pointed as one of the main causes of pollution and Climate Change. Are they ready to become part of the solution? Global investors are increasingly keen in buying assets of the green economy, “if people start to look at their capital differently, then the world will start to change” said Kanini Mutooni, Managing Director of Toniic Impact Network, a “club” of investors focused on the so-called impact investing. “Let’s be clear, an impact investor is not a philanthropist, we are not philanthropists, we are about deploying capital for a social and an environmental return as well as a financial return”. She thinks that without a financial return investors won’t play the sustainable economy game “being a philanthropist is ok but for me, it’s not a sustainable way to solve the problems that we have in the world right now". She calls for measure tools on impact investment. Lionel le Maux, which has been investing in the green economy for 10 years, thinks that it’s not that much that investors are ready but that increasingly Climate Change consumers are imposing a new sustainable economy. The panel "Visions for a clean future" gathered investors and specialists Marina Canossa/© Transition Forum André Nicolas from Phenix food waste recovery startup asks himself if it’s a new short-lived fashion but agrees that impact investing is becoming a trend, and there’s more and more capital available. He acknowledges some contacts from investors during the forum which, seemingly it's not only useful as a networking community. For Sycomore Asset Management specialist Anne-Claire Abadie it is essentially institutions and the younger investors who are the most interested in taking part in the green economy revolution. "Beyond the demands of our clients, we think it's an issue in which it's compulsory to act, so we are voluntarily getting involved in it. " She explains that both startups and corporations are very dynamic in the green economy and their initiatives and projects are more and more realistic, solid and profitable. At the Transition Forum there was also representation of the European Venture Philanthropy Association lobby (EVPA). The group includes some of the most pollutant multinational corporations foundations advocating for venture philanthropy and “passion investment”. But while some might criticise their implication on environmental issues as hypocrite, the shift towards a real change is impossible without them being involved.       https://quantsalus.com/faq/...

    Investors are increasingly keen on putting their money into sustainable projects. From the traditional greenwashing, they’re shifting to a real investment, with the perspective of making profits, and helping the Planet survive. Investing in “dirty” sectors has become riskier, and at a medium-long term, everyone agrees that there’s no future in keeping polluting the Earth.

    The second edition of the Transition Forum, organised by private equities specialists Aqua Asset Management under the patronage of His Serene Highness Albert II, Prince of Monaco, gathered some 250 participants between Corporate actors (30%) financial (15%) non-profit organisations (15%) startups and regional representatives. The theme of this edition was “Shifting to Sustainable Lifestyles”.

    The Forum organised keynote speeches, but also meetings with entrepreneurs on the key themes of Mobility, Food, Housing, and Production & Consumption. It also proposed networking sessions allowing investors to meet the startups.

    'We all agree it's very urgent'The first consensus at the Forum was that it is urgent, very urgent to act. The record heatwave that struck Europe on June 26 and 27, and didn’t spare Monaco was somehow highlighting it.

    Multi-Michelin Starred Chef Pierre Gagnaire explained how he is a witness to degradation. “I have known a time where turbots weighed 15 kilos. Now a big turbot is about 4 kilograms”. He nevertheless feels optimistic when he sees serious initiatives empowering the shift towards a sustainable economy.

    French primatologist Sabrina Krief also called to act promptly by explaining the impact of human activity on Ugandan chimpanzees. The primates in the area are born with deformities, fertility problems probably due to the impacts of intensive tea monoculture in the region.

    Also striking, the call of serial entrepreneur Gunter Pauli to stop plastic pollution “I’m fed up of hearing about the analysis and reports. We need to start going into action. Birds and fish are dying because their liver is being mummified by microplastics”. He is currently working on a project to tackle the problem of microplastics along the coast of Morocco through an innovative seaweed curtains system.

    “We all want to change the world, as the Beatles sung in 'Revolution', in the same manner, many people say they want to stop Climate Change, but the evidence shows that those words are not always followed by action,” said Transition Forum co-founder Lionel le Maux. The Forum started last year to bring together a network of experts from all boards, entrepreneurs, NGO and investors.

    Lionel Le Maux at the opening of the Transition Forum Marina Canossa/© Transition Forum

    Ok, let’s change the world. But how?The Transition Forum also reflected some of the difficulties around this shift to a sustainable economy, as there is no a single way to understand what it means.

    Does it make sense to remove all fossil fuel cars from our roads then start buying electric vehicles at a massive scale? Would that be sustainable if the most populated countries do the same? Of course, it is, and would be a tremendous business but: Is it really sustainable?

    The solution for some is to shift to less polluting organic fuels like biogas, others will tell you that the only way forward is to improve public transport infrastructures or even developing car sharing, automated cars, electric scooter or electric bicycle models. Mobility adviser and visionary Timothy Papandreou thinks that the future is a wise mix of all these.

    On food, the debate turns around the production models. Chef Pierre Gagnaire dismissed the "all organic" fashion saying that the reasonable production and consumption is the way forward. But the proposals to take the way of food transition are very diverse: from using microalgae as a natural pesticide to flies as a source of protein for poultry and fish farming...

    There is no a magic recipe either to tackle the sustainable housing and the cities of the future, but the Forum showed some of them: from those who think that the future cities should be hyper connected through fibre to those proposing solutions for low environmental impact construction materials, or reusing the existing structures.

    French filmmaker and diver Julie Gauthier made passionate advocacy of economic decrease as the only real solution to spare the Blue Planet from disaster. “The Green economy, new ways of consumption are very important, but it has to go along with an economic degrowth, we can’t only focus on consuming ‘better’ and more, we have to reduce consumption”.

    Julie Gauthier defends economic decrease as a solution for environmental crisis Marina Canossa/© Transition Forum

    Is the economy ready to go green?Our economic and financial model is often pointed as one of the main causes of pollution and Climate Change. Are they ready to become part of the solution?

    Global investors are increasingly keen in buying assets of the green economy, “if people start to look at their capital differently, then the world will start to change” said Kanini Mutooni, Managing Director of Toniic Impact Network, a “club” of investors focused on the so-called impact investing. “Let’s be clear, an impact investor is not a philanthropist, we are not philanthropists, we are about deploying capital for a social and an environmental return as well as a financial return”. She thinks that without a financial return investors won’t play the sustainable economy game “being a philanthropist is ok but for me, it’s not a sustainable way to solve the problems that we have in the world right now".

    She calls for measure tools on impact investment.

    Lionel le Maux, which has been investing in the green economy for 10 years, thinks that it’s not that much that investors are ready but that increasingly Climate Change consumers are imposing a new sustainable economy.

    The panel "Visions for a clean future" gathered investors and specialists Marina Canossa/© Transition Forum

    André Nicolas from Phenix food waste recovery startup asks himself if it’s a new short-lived fashion but agrees that impact investing is becoming a trend, and there’s more and more capital available. He acknowledges some contacts from investors during the forum which, seemingly it's not only useful as a networking community.

    For Sycomore Asset Management specialist Anne-Claire Abadie it is essentially institutions and the younger investors who are the most interested in taking part in the green economy revolution.

    "Beyond the demands of our clients, we think it's an issue in which it's compulsory to act, so we are voluntarily getting involved in it. "

    She explains that both startups and corporations are very dynamic in the green economy and their initiatives and projects are more and more realistic, solid and profitable.

    At the Transition Forum there was also representation of the European Venture Philanthropy Association lobby (EVPA). The group includes some of the most pollutant multinational corporations foundations advocating for venture philanthropy and “passion investment”. But while some might criticise their implication on environmental issues as hypocrite, the shift towards a real change is impossible without them being involved.

     

     

     

    https://quantsalus.com/faq/


    03.07.2019 | Netflix Rises Midday After It Scores Deal at Iconic UK Studio




    Investing.com - Netflix (NASDAQ:NFLX) is determined to dominate the TV and movie sector and it may have just landed a deal that will help it get there. The streaming service made a deal with Shepperton Studios to set up a permanent production space there, The Guardian reported. Shepperton Studios, which has created films like "Alien" and "Mary Poppins Returns," will make up about half of Netflix’s $13 billion annual production budget in the UK. The studio space will allow Netflix to continue to build out its own films and shows. The first production at Shepperton Studios will be "The Old Guard," starring Charlize Theron. Netflix was up 1.4% in midday trade on Wednesday.   © Reuters.   https://quantsalus.com/about/...

    Investing.com - Netflix (NASDAQ:NFLX) is determined to dominate the TV and movie sector and it may have just landed a deal that will help it get there.

    The streaming service made a deal with Shepperton Studios to set up a permanent production space there, The Guardian reported.

    Shepperton Studios, which has created films like "Alien" and "Mary Poppins Returns," will make up about half of Netflix’s $13 billion annual production budget in the UK.

    The studio space will allow Netflix to continue to build out its own films and shows.

    The first production at Shepperton Studios will be "The Old Guard," starring Charlize Theron.

    Netflix was up 1.4% in midday trade on Wednesday.

     

    © Reuters.

     

    https://quantsalus.com/about/


    Pages: 3 4 [5] | 6 | 7