- S&P 5002,900.51-0.79%
- Dow 3025,962.44-0.66%
- Nasdaq7,948.56-0.68%
- Russell 20001,498.01-0.72%
- Crude Oil56.18-0.28%
- Gold1,513.40-0.15%
- Silver17.04-0.63%
- EUR/USD1.1099-0.0777%
- 10-Yr Bond1.5610-2.32%
- Vix17.50+3.67%
- GBP/USD1.2152-0.1167%
- USD/JPY106.4680+0.2080%
- BTC-USD10,201.13-5.29%
- FTSE 1007,125.00-0.90%
- Nikkei 22520,599.65-0.38%
- Reuters
UPDATE 5-China trims lending rates with new benchmark, more cuts expected
China lowered its new lending reference rate slightly on Tuesday, as expected, as the central bank kicked off interest rate reforms designed to reduce corporate borrowing costs in the world's second-largest economy. But the tiny reduction in the revamped Loan Prime Rate (LPR) reflected Chinese banks' continued reluctance to lower their lending rates and face leaner profit margins. That has fueled expectations Beijing will need to cut rates again soon in some form to support struggling businesses.
- Barrons.com
Mining Stocks Are Rising on China Stimulus Hopes But the Rally Could Be Short-Lived
Mining stocks are rising on higher copper prices, but the rally could be short-lived as trade war fears loom. The FTSE 100's mining heavyweights made gains on Monday after the prospect of fresh Chinese stimulus boosted copper prices. A trade deal between the U.S. and China would send commodity prices—and mining stocks—soaring, but Donald Trump dampened hopes of an agreement, insisting he was not ready to make a deal.
- MarketWatch
Kyle Bass on where the global economy is headed: ‘This is insane’
When rates eventually reach zero in the U.S. amid slowing growth in Europe and China, Bass warns, it will only fan the flames of inequality in America. “The unintended consequences of central bank printing are that it makes the rich even richer, it makes the middle class stay where they are and it makes the poor stay poor,” Bass explained to CNBC.
- Bloomberg
Denmark’s Jyske Bank Sets Negative-Rate Mortgage Milestone
Jyske Bank A/S, Denmark's third-largest lender, announced in August a mortgage rate of -0.5%, before fees. Mikkel Hoegh, Jyske Realkredit housing economist, explains the dynamics behind the offering on "Bloomberg Markets: European Close."
- The Basis Point
Household Debt—How Much Money Does Everybody Owe? Q2 2019 Edition
How Much Money Does Everybody Owe? Q2 2019 Edition Every quarter, the Federal Reserve Bank of New York releases data on how much household debt Americans are accumulating. Here's everything you need to know about American debt in Q2 2019.
- Investopedia
High-Dividend Stocks on Historic Discount as Yields Plunge, says Goldman
The S&P 500's highest yielding dividend stocks are selling at their biggest discount in nearly 40 years as bond yields across the globe are plunging. Despite mounting fears concerning global trade, weak economic data coming from economic powerhouses like China and Germany, and the brief inversion of the U.S. Treasury yield curve last week, Goldman Sachs recommends a basket of dividend stocks with high growth potential and which are trading at bargain prices. The basket is comprised of stocks from a range of sectors, offering impressive expected dividend yields (DY) for the year and attractive forward-looking price-to-earnings ratios (P/E ratios), including, AT&T Inc.
- Bloomberg
Hudson’s Bay Soars After Catalyst Buys Stake to Block Chairman
The Toronto-based firm said in a statement it had received and accepted about 18.5 million shares in Hudson's Bay for roughly C$187 million ($141 million) in cash at C$10.11 per share. Catalyst's purchase of the minority stake adds to pressure on Baker to boost his bid, which also faces opposition from activist investor Jonathan Litt. Catalyst and Litt are pushing for a higher offer, arguing the owner of Saks Fifth Avenue has valuable real estate that could be unlocked.
- MarketWatch
The investing opportunity of a lifetime awaits us when the recession arrives
All these are just one downgrade away from being high-yield “junk bonds.” The best data I can find shows that there are roughly $3 trillion worth of BBB bonds and another roughly $1 trillion worth of lower-rated bonds that would still be called “high-yield.” If it happens like last time, the ratings agencies will wait until their fate is already sealed before they cut ratings on these zombies. This is a structural problem with mutual funds and ETFs. When the recession hits, we will see junk bonds — and the riskier end of corporate debt generally — go into surplus.
- InvestorPlace
10 Stocks That Every 30-Year-Old Should Buy and Hold Forever
Of course, investors in their 30s should be holding some of their money in an index fund that will provide conservative growth. Since then, the market has come to its senses and DIS stock is back to trading above $135 per share. The first is that the company is ripe for a major comeback.
- InvestorPlace
The 10 Best Cheap Stocks to Buy Right Now
With CBS stock priced at only 5.4 times this year's expected earnings though, the company would also make for a dirt-cheap entry or expansion into the entertainment industry. Air Lease (AL) Air Lease (NYSE:AL) relies on at least a decent economy to drive demand for passenger jets, and recently, investors have seen what they think are too many red flags. Take a closer look at all the data, though, and matters aren't as dire as they may seem.
- InvestorPlace
Trump Blocks Tech Merger to Stimulate 5G Leadership
Now we're shifting to the fifth generation of wireless networks – 5G. And it represents the largest leap in wireless technology to date. A Leap Forward The current 4G networks are a disappointment. They're much slower than what the original developers thought the networks would deliver.
- Bloomberg
Mobius: Should Be Buying Gold on Any Level
Mark Mobius, co-founder and partner at Mobius Capital Partners, discusses demand for commodities and his outlook for gold. He speaks on “Bloomberg Markets: Asia.
- Yahoo Finance
Argus Daily Spotlight: Goldbugs Emerge from Hibernation
This excerpt was brought to you using the Research Reports feature available through Yahoo Finance Premium. Recently, the spot price for an ounce of gold broke through the $1,500 level for the first time in more than six years. From a technical standpoint, gold has broken out of a three-year trading range between $1,200 and $1,340 and appears to be in a bullish pattern of higher highs and higher lows that dates back to December 2016.
- InvestorPlace
Macro-Headwinds Risk Ruining the Recipe for Blue Apron Stock
For meal-delivery service Blue Apron (NYSE:APRN), I'm going to loosen my usual uptight writing style and address this matter frankly: I have a love-hate relationship with APRN stock. Indeed, I'd argue that in this app-crazy world we're living in, you'd expect Blue Apron stock to skyrocket. In my last write-up about Blue Apron stock, I questioned management's previous focus on targeting retirees.
- Quartz
Overworked Indian employees just want a room to nap at the workplace
Up to 86% Indian employees want a dedicated nap room in their offices, which, they say, will immensely improve productivity. Over 40% of them also suffered from irregular sleep due to work-related stress or curtailed sleeping hours. The results are part of a report titled “Right to Work Naps,” conducted by the online sleep-solutions startup Wakefit.co. The startup surveyed 1,500 respondents across Indian cities regarding irregular sleep patterns, most productive hours for working, and general levels of well-being at the workplace.
- USA TODAY
What happens when an older employee can no longer perform effectively? Ask HR
In this case, an employee takes on a less-demanding job or works part time to transition to retirement. Be aware that when a worker is unable to meet the fundamental duties of a job, a company is not required to make an accommodation. An employer can request that an employee complete a fitness-for-duty evaluation, which determines a person's abilities to safely perform the essential functions of a job without posing a threat to him or herself or others.
- American City Business Journals
These 5 Bay Area companies are Bank of America's picks to best survive a recession
President Donald Trump may hate the chatter that the U.S. might be headed for a recession, but that's not stopping some economists with their predictions or other experts in sharing tips for how to survive an economic downturn. Case in point: Bank of America Merrill Lynch is out with a breakdown of the top 12 Internet stocks it says are best positioned to survive a recession. Business Insider has the details of the Bank of America Merrill Lynch report.
- American City Business Journals
New survey shows customers are less happy with their cars – here's how Honda fared
The auto industry isn't just dealing with sales declines — car owners are less pleased as well. The annual Automobile Report from the American Customer Satisfaction Index Tuesday reported a 3.7% decline in customer satisfaction in 2019 for an industry-wide score of 79 on its 0 to 100 scale. For mass-market vehicles, consumers gave brands lower marks across all areas except vehicle comfort, which was the only aspect to hold stable.
- Yahoo Finance
A US recession is probably coming so investors should just deal with it
You — yes, you the investor reading this — have nobody to blame but yourself if you lose your shirt ahead of what looks to be a mild U.S. recession that starts later this year and carries over into the first half of 2020. The logic is simple to grasp: U.S. consumers won't be able to handle tariff-related price increases, while mega corporations delay capital investment due to the high levels of fiscal uncertainty. Take the currently inverted yield curve — an indication of heightened nervousness in risk markets — for example.
- Yahoo Finance
Jackson Hole Preview: Fed will try not to ‘trigger carnage’
This year's central banking meeting in Jackson Hole, Wyoming appears to have tenser undertones than in previous years. Mounting worries over a U.S. recession and continued pressures from the White House are weighing on a Federal Reserve also trying to defend the U.S. economy from spillover effects of a slowdown in Europe and China. With financial conditions and global concerns darkening the otherwise tranquil backdrop of the Grand Tetons, market participants will be gleaning Fed commentary in Wyoming for clues about what policymakers may be thinking for next steps.
- MarketWatch
Asian markets pull back after recession fears weigh on Wall Street
Asian markets were mostly lower in early trading Wednesday, after recession worries led to losses on Wall Street. President Donald Trump on Tuesday admitted that tariffs against Chinese goods may cause economic pain in the U.S., but said his hard line is necessary and will be worth it in the long run. “It's about time, whether it's good for our country or bad for our country short-term,” Trump said, adding that he didn't think the nation was at risk of recession.
- InvestorPlace
The Future for NIO Stock Is in the Delivery
Li also remarked that the company brought some July deliveries forward into June ahead of the subsidy cuts. The 10 Best Cheap Stocks to Buy Right Now But July deliveries only tell part of the story. As my colleague Laura Hoy pointed out Nio has been reporting disappointing delivery numbers for quite some time.
- TipRanks
3 “Strong Buy” Stocks Poised to Soar in the Next 12 Months
As a result, Walkley reiterated his Buy rating on NOK stock, with a 12-month price target of $7.00, implying 34% upside from current levels. In the long-term, Walkley believes the company can emerge as an industry leader. Further, we anticipate an increasing revenue mix from higher-margin regions as the U.S., Japan, and Korea represent some of the early adopters of 5G investments.
- InvestorPlace
10 Undervalued Stocks With Breakout Potential
The company's margins have come under significant pressure thanks to tariffs, and in response, investors have sold off FL stock to an anemic 8-times forward earnings multiple, versus a five-year-average forward multiple north of 12, a consumer discretionary sector average multiple north of 20, and a footwear sector average multiple north of 28. The Breakout Catalyst: Foot Locker's demand trends are healthy. Last quarter, Foot Locker reported nearly 5% comparable sales growth.
- Financial Times
Now bigger than eBay, Shopify sets its sights on Amazon
Small businesses — which make up the vast majority of Shopify's merchants — find it “wickedly difficult” to keep up with the messy, expensive business of shipping, returns and storing inventory, particularly in light of the high consumer expectations set by the likes of Amazon, which sees orders delivered within a day or two. p “Giving that [capability] to more people who don't happen to be part of the Jenner and Kardashian clan is exactly the kind of thing we want to do,” he said.
