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Trump's push for $2K coronavirus stimulus checks 'good news' for emerging markets: Expert

Mobius Capital Partners Founding Partner Mark Mobius reacts to President Trump calling for amendments to the coronavirus stimulus.

Latest Stories

  • P&G Notched Another Strong Quarter. It’s Stock Is Falling.

    (PG) shares were on the decline early Wednesday following the household-products maker’s fiscal second-quarter earnings and upbeat outlook—evidence that shoppers are still flocking to its premium brands amid the Covid-19 pandemic. Procter & Gamble (PG) said it earned $3.85 billion, or $1.47 a share. Adjusted earnings per share, which exclude the impact of currency, were $1.64 on revenue that rose 8% to $19.75 billion.

  • 3 Stocks That Could Win Big As The Biden Administration Takes The Wheel

    This year has already started with a bang, and with a “blue wave” looming over the United States, three industries could be ready to explode

  • Why Netflix stock is going haywire after its latest earnings report

    This is why Netflix shares are really going bonkers after the company's latest earnings report.

  • Biden to Bar Keystone Pipeline in Reversal of Early Trump Move

    (Bloomberg) -- Joe Biden will cancel the Keystone XL oil pipeline hours after becoming president on Wednesday, killing once again a cross-border project that had won a four-year reprieve under his Republican predecessor, Donald Trump.In one of his first major environmental actions, Biden will revoke TC Energy Corp.’s pipeline permit via an executive order because it doesn’t “serve the U.S. national interest,” according to fact sheet from his transition team.The move brings Keystone’s fate full circle, repeating a decision made in 2015 by President Barack Obama to keep the pipeline from crossing the border. Trump reversed that in 2017 on his fourth full day in office over the objections of environmental groups.Environmentalists are counting on the latest rejection -- coming more than a dozen years since the pipeline was first proposed -- to stick. They argue the project would provide an outlet for heavy Canadian oil sands crude extracted in Alberta through particularly energy-intensive processes that ratchet up its carbon footprint.“Putting a stop to the dirty and dangerous Keystone XL tar sands pipeline immediately and once and for all would be an important first step and testament to the leadership of the diverse grassroots movement that has long pushed to stop it and other harmful pipelines,” said Tiernan Sittenfeld, a senior vice president with the environmental group League of Conservation Voters.Biden promised the action on the campaign trail, yet his formal step still provoked outrage from oil industry leaders and some labor unions that support the project.“The Biden administration has chosen to listen to the voices of fringe activists instead of union members and the American consumer on Day 1,” said the United Association of Union Plumbers and Pipefitters in an emailed statement based on news reports before the action.Construction of Keystone XL already began last year, jump started with a $1.1 billion investment by the province of Alberta. Whole segments of the line, including one that crosses to U.S.-Canadian border, have already been built.TC Energy has worked to make the project more palatable to a Democratic administration, inking labor agreements with four major pipeline unions last August, agreeing to sell an equity stake in the line to indigenous communities along the route and promising to power it entirely with renewable energy.Still, Keystone XL has been a lightning rod for controversy and a litmus test for environmentalism almost since it was first proposed in 2005. The 1,179 mile (1,897 kilometer) segment is designed to move oil from Alberta through Montana, South Dakota and Nebraska, then connect with an existing network feeding crude to the Gulf Coast. The line would carry as much as 830,000 barrels of oil a day.Opponents argue it will stimulate oil sands development, contributing to climate change.Years ago, proponents of the controversial crude pipeline argued that more of Canada’s cheaper, heavy crude would help fuel producers on the U.S. Gulf Coast wean off supplies from countries like Venezuela or the conflict-prone Middle East.But refiners in Texas and Louisiana have become increasingly flexible, using more of the abundant light oil from shale fields. Plus, Canadian crude’s price advantage has narrowed, and imports from the country have roughly doubled in a decade to a steady flow of more than 3.5 million barrels a day, without Keystone XL.“It’s not an issue for refiners,” said Robert Campbell, head of oil products research at Energy Aspects Ltd. “They can switch into domestic light. The hurt would be on oil sands producers.”Alberta Premier Jason Kenney on Tuesday urged Canadian Prime Minister Justin Trudeau to take steps to save the permit, saying its revocation “would damage the Canada-U.S. bilateral relationship.”Keystone XL was one of only a handful of energy and mining projects Biden took an explicit stand against while on the campaign trail. Environmentalists emboldened by his move on Keystone are already pressuring him to revoke a critical authorization allowing continued operation of Energy Transfer LP’s Dakota Access oil pipeline and take action against Enbridge Inc.’s plan to replace and expand its aging Line 3 pipeline from Alberta to Superior, Wisconsin.From the archive -- Why the Keystone Project Is Controversial: QuickTake“It’s exciting news,” said Dallas Goldtooth, an organizer with the Indigenous Environmental Network. “Now what are you going to do about Line 3 and the Dakota Access pipeline? We are happy, but we want to see what comes next.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • 7 of IBM Watson's Top Stock Picks

    IBM Watson picked these stocks to outperform.Artificial intelligence will likely revolutionize the global economy in the next several decades, and Wall Street is not immune to the AI disruption.

  • UPDATE: Bionano Genomics prices $200 million underwritten stock offering at a discount of $6 a share

    Bionano Genomics Inc. priced a $200 million underwritten stock offering announced late Tuesday at a discount of $6 a share, selling 33.3 million shares. The stock closed Tuesday at an alltime high of $9.14. The genome sequencing company's shares have gained 662% in the last 12 months on little news flow, and trading volumes have been active in recent sessions. Bionano previously sold 29 million shares at $3.05 a share less than two weeks ago. The stock fell 22% in premarket trade to reflect the dilutive effect of the offering. Oppenheimer was sole bookrunner on the deal with BITG acting as lead manager and Ladenburg Thalmann and Maxim Group acting as co-managers. Underwriters have a 30-day option to purchase another 5 million shares at the offering price. Bionano shares traded for less than $1 for much of 2020, before prices shot higher just before the end of the year despite no public announcements about changes at the genome-analysis company, which lost nearly $30 million on sales of $4.5 million in the first nine months of 2020.

  • These Stocks Are More of a Gamble Than an Investment

    Academics say there’s more in common with stock-market investing and gambling than you might imagine. And they have a simple methodology for determining that stocks are gambles rather than investments.

  • 2021's Dividend Aristocrats List: All 65 Stocks

    Rock-solid dividend aristocrats you can bank onFinding great dividend stocks is hard work. Any company can pay a dividend.

  • Social Security, Medicare and Retirement Plan Changes in 2021

    Here's everything you need to know about Social Security raises, cost for Medicare premiums and retirement plan limits for 2021.

  • Alibaba's Jack Ma makes first public appearance in three months

    Alibaba Group founder Jack Ma made his first public appearance since October on Wednesday when he spoke to a group of teachers by video, easing concern about his unusual absence from the limelight and sending shares in the e-commerce giant surging. Speculation over Ma's whereabouts has swirled in the wake of news this month that he was replaced in the final episode of a reality TV show he had been a judge on, and amid a regulatory clampdown by Beijing on his sprawling business empire. The billionaire, who commands a cult-like reverence in China, had not appeared in public since Oct. 24, when he blasted China's regulatory system in a speech at a Shanghai forum.

  • How the stock market and economy performed under Democratic presidents

    Historical data shows the stock market does well when Democrats are in charge.

  • Ford Must Recall 3M Vehicles Due To Dangerous Airbags, Orders NHTSA

    Ford Motor Company (NYSE: F) will have to recall 3 million vehicles due to defective airbags, according to the National Highway Traffic Safety Administration, Reuters reported Tuesday.What Happened: The federal regulator rejected Ford and Mazda Motor Corporation's (OTC: MZDAY) petitions centered around avoiding the recall of the dangerous Takata airbags, according to Reuters.The agency said on its website that 2006 Ford Ranger and Mazda B-Series vehicles are at a far higher risk for exploding airbags, which could injure or kill vehicle occupants due to emanating fragments."These vehicles can and should be repaired immediately," the regulator said. Ford said Tuesday that the affected vehicles were subject to an earlier recall for the passenger-side airbag, according to Reuters.See Also: GM To Recall 5.9M Vehicles Over Faulty Airbags As NHTSA Turns Down PetitionWhy It Matters: Affected vehicles include Ford Ranger, Fusion, Edge, Lincoln, Zephyr/MKZ, Mercury Milan, and Lincoln MKX, noted Reuters.The defect has led to the largest automotive recall in U.S. history -- necessitating the refurbishing of 67 million airbags.The inflators have reportedly led to the death of at least 27 people around the world and 18 in the United States and have caused over 400 injuries. Ford must submit to NHTSA a "proposed schedule for the notification of vehicle owners and the launch of a remedy" within 30 days, as per Reuters.Last week, Tesla Inc (NASDAQ: TSLA) was asked by the regulator to recall 158,000 Model S, X vehicles due to defective touchscreens.Price Action: Ford shares closed nearly 1.9% higher on Tuesday at $10.02 and gained 1% in the after-hours session.See more from Benzinga * Click here for options trades from Benzinga * Self-Driving Vehicles Can Now Be Made Without Steering Wheels Under New NHTSA Rules * Tesla Model 3 Was UK's Best Selling Battery EV In 2020(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • One Medical, IBD Stock Of The Day, Breaks Out On Covid Vaccines, Analyst Pick

    One Medical, IBD Stock Of The Day, broke out to a record high as it rides momentum from the Covid vaccine rollout and a "top idea" call from a Wall Street analyst.

  • States with the Lowest Taxes and the Highest Taxes

    Each state is different when it comes to the cost of living and tax rates. Here's a roundup of the highest and lowest taxes by state.

  • Gevo shares slide 20% premarket on news of $350 million stock offering

    Shares of renewable energy company Gevo Inc. slid 20% in premarket trade Wednesday, after the company said it is selling $350 million of shares in a registered direct offering priced at-the-market. The company is offering 43.75 million shares, priced at a discount of $8 each. The stock closed Tuesday at $11.03. H.C. Wainwright is acting as placement agent on the deal. Proceeds will be used to fund capital projects, for working capital and for general corporate purposes. Englewood, Colo.-based Gevo's shares have gained 404% in the last 12 months, while the S&P 500 has gained 14%.

  • Is Ford Stock A Buy Now, As Earnings Rebound?

    With earnings turning around and the stock making a notable move, is Ford primed for a comeback? Here’s what you should know.

  • Is Alibaba Stock A Buy Right Now? Here's What Earnings, Chart Show

    Alibaba stock is an IBD Long-Term Leader with outstanding fundamentals, but does that make the China bellwether a buy right now?

  • Best Tech Stocks To Buy Or Watch Now: 5 Growth Stocks Leading The Stock Market

    The best tech stocks to buy and watch are strong price performers with healthy fundamentals, thanks to a new product or service that's driving growth.

  • Vanguard Signals Fee War Intensifies With Active Bond ETF Plan

    (Bloomberg) -- Asset managers hoping 2021 might bring some respite to the fee war are in for disappointment, if Vanguard Group’s latest exchange-traded fund is anything to go by.The $7.1 trillion investment giant this week filed plans for the Vanguard Ultra-Short Bond ETF, which will track high-quality fixed-income securities and is expected to begin trading next quarter.The average cost of similar funds is about 0.22%, but Vanguard -- whose low-cost approach helped it dominate ETF flows last year -- is charging less than half that for the new actively managed offering. Its 0.10% expense ratio compares with 0.18% for the $15.9 billion JPMorgan Ultra-Short Income ETF (ticker JPST) and 0.35% on the $14.4 billion PIMCO Enhanced Short Maturity Active Exchange-Traded Fund (MINT).“Cost is one of the important factors that you see guiding investor choices,” said Rich Powers, Vanguard’s head of ETF product, in a phone interview. “Low cost products are increasingly winning the lion’s share of the investor assets.”Vanguard ETFs attracted a record $200 billion last year, with the passively managed Vanguard Total Stock Market ETF (VTI) leading the way. That fund carries an expense ratio of just 0.03%.While the Malvern, Pennsylvania-based firm is known as a pioneer in index investing, its active management credentials are less-well established. The ultra-short fund will be its first active ETF to launch since 2018 and will fill a gap in Vanguard’s ETF lineup, Powers said.“We have have an offering in most every place an investor would want to build a diversified portfolio,” he said. “But in that space that toggles between money markets and short term bonds, we didn’t have an offer.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • The credit score to get a mortgage has soared — what can a borrower do?

    The average score needed for a home loan is the highest in years, the Fed says.