The British pound initially tried to rally a bit during the trading session on Monday but found enough resistance near the 1.22 level to sell off yet again. One thing is for sure, the British pound continues to show signs of weakness as we can't get some type of agreement between the British politicians to get some type of movement. If that's going to be the case, we will get a massive “flush lower” in the British pound at one point or another, which could be the antithesis of a “blow off top.” In other words, someday were going to get an opportunity to buy the British pound at such cheap levels that it will be the “trade of the century.” However, we aren't quite there yet.
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Right now, the major currency pair is trading close to its three weeks' lows but may test the bottom at 1.1025 reached on August 1st. The Euro might have plunged evermore, but was surprisingly “saved” by Der Spiegel, a German weekly news magazine, which wrote that the German government was ready to settle for the budget deficit if the country's economy started falling into a recession. This was pretty unexpected and unusual because Angela Merkel and the German Federal Ministry of Finance have been famous for their tough stance against any economic incentives related to budget and tax policies.
European car manufacturers and suppliers rose on Wednesday on reports that (RNO) and (FCA) could restart merger negotiations. The proposed €33 billion merger collapsed in June after the French government, which holds a 15% stake in Renault, tried to block a vote on the deal that would have reshaped the global auto industry. Italian newspaper Il Sole 24 Ore suggested talks were back on the table, sending shares in auto makers and car parts suppliers higher.
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.
Kroger Co. is expanding its partnership with drug store chain Walgreens to another market after its successful test of the concept in Northern Kentucky. Kroger (NYSE: KR), the nation's largest operator of traditional supermarkets, will expand its Kroger Express and Kroger Pickup offerings to 35 Walgreens stores in the Knoxville, Tenn., area this fall. Walgreens (Nasdaq: WBA) will also launch its store-brand health and beauty products at 17 Kroger stores in the Knoxville area.
The cryptocurrency Ripple (trading symbol: XRP) has seen its Fundamental Crypto Asset Score (FCAS) climb 2.8% over the past three weeks, driven by a 5.6% spike in our Developer Behavior criterion. Ripple is a growing force across the global financial landscape, establishing inroads to institutional finance while cultivating products in the cryptosphere. This product, built on top of RippleNet, is a cross-border payments system that's based on traditional currencies like the U.S. dollar.
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.
Charlies Liu, founder of Hao Capital, discusses the U.S.-China trade spat, the situation with Huawei and the length of the negotiations. He speaks on “Bloomberg Markets: China Open.
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.
While the company posted quarterly net revenue of CA$90.5 million, up by more than 3x from the year-ago quarter, investors were not impressed as this result was well below the Street's CA$109 million estimate. More bad news came when CGC reported its net loss widened to CA$1.3 million from CA$91,000 in the prior-year quarter. Management attributes the loss to a drastic drop in cannabis oil and softgel sales, plunging to CA$0.2 million from CA$36.5 million in Q4.
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.
Shares of Kinder Morgan Inc. (kmi) rallied 2.9% in premarket trading Wednesday, after the energy transportation and storage company announced a deal to sell the U.S. portion of the Cochin Pipeline for $1.55 billion to Pembina Pipeline Corp. (pba)(ca:ppl) As part of the deal, Pembina has agreed to buy all of the outstanding common stock of Kinder Morgan Canada Ltd. (ca:kml) of which Kinder Morgan owns a 70% stake. Kinder Morgan will receive 0.3068 shares of Pembina for each Kinder Morgan Canada share it owns, which will result in Kinder Morgan receiving 25 million shares of Pembina stock, or just under 5% of the shares outstanding.
Despite what the flurry of recent headlines suggests, there are other things going on at (GE) for investors to consider besides accounting assumptions for long-term care insurance. Last week, forensic accountant Harry Markopolos alleged, among other things, that the company's accounting for long-term insurance is fraudulent—a claim GE strenuously denies but that has still dominated investors' attention. Credit Suisse analyst John Walsh, however, took some time away from the insurance deluge to discuss his recent meeting with General Electric (ticker: GE) CEO Larry Culp.
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.
U.S. banking regulators on Tuesday eased trading regulations for Wall Street banks, giving them one of their biggest wins under the Trump administration but drawing criticism from consumer activists who warned of potential risks to taxpayers. The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) approved the revamped version of the so-called "Volcker Rule," which aims to ban lenders that accept U.S. taxpayer-insured deposits from engaging in proprietary trading. The changes, first proposed in May 2018, followed years of lobbying by banks, including Goldman Sachs Group Inc , JPMorgan Chase & Co and Morgan Stanley , which have long complained the rule is too vague and complex.
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.
If anything, the price differential between XOM stock and its competitors is one of the strongest reasons to start a long position in one of the petroleum industry's biggest and best-known mega-corporations of our lifetime. For a basis of comparison, we can compare the dividend payout of XOM stock to its chief rival, CVX. Chevron's dividend yield is quite decent at 4.1%, but Exxon Mobil is the clear winner in that category at 5%.
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.
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.
Since Uber Technologies Inc. (NYSE: UBER) went public in May 2019, journalists and analysts have sharpened their skepticism regarding the viability of the company's sweeping ambition and future-reliant success. A 23-percent drop in the company's stock shares (as of August 19) and its second quarter loss of $5 billion, mostly due to stock-based compensation, cause investors to wonder what profitability will look like for the international mobility-on-demand company.
Thirty-four percent of economists in a poll released earlier this month by the National Association for Business Economics predict that a slowing economy will veer into recession in 2021, up from 25% in February. The next recession will likely begin in 2020, according to a separate panel of more than 100 real-estate economists polled by real-estate site Zillow Half of those surveyed said the next recession will start in 2020, with nearly one in five identifying the third quarter as the likely beginning. Morgan Stanley's chief U.S. economist, Ellen Zentner, recently said there's a 20% chance of recession in the year ahead.
Recent news about the merger between Sprint (NYSE:S) and T-Mobile (NASDAQ:TMUS) reminded me why I don't like gambling on such events. As you know, the S stock price received a massive boost in the middle of the spring season. Late last month, the U.S. Department of Justice declared that the two companies can move ahead with their merger.
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.
Undervalued Stocks With Breakout Potential So today we are discussing United Health (NYSE:UNH), Pfizer (NYSE:PFE), and Johnson & Johnson (NYSE:JNJ) stocks. I'll start with my conclusion first. All three are still good stocks to buy at these levels — but for different reasons.