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☆ NASDAQ closes at record high
▼ + stars: | 2024-05-14 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNASDAQ closes at record highAdam Crisafulli, Vital Knowledge founder, and Luca Paolini, Pictet Asset Management chief strategist, join 'Closing Bell Overtime' to talk the day's market action.

Persons: Adam Crisafulli, Luca Paolini Organizations: NASDAQ, Vital Knowledge, Pictet Asset Management

☆ MSCI China Index: 66 stocks cut from benchmark amid stock market rout
▼ + stars: | 2024-02-14 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Global stock index compiler MSCI is deleting dozens of companies from its benchmark China Index, which could further exacerbate fund outflows from Chinese equities after a massive stock market rout. The index provider announced this week that it would drop 66 securities from the MSCI China Index, one of its flagship China indexes, as part of the company’s latest quarterly review. The MSCI China Index is the compiler’s key index tracking the Chinese stock market, covering about 85% of the total market capitalization of Chinese companies listed globally. On Monday, MSCI also announced changes to its other China-related indexes, including deleting dozens of stocks from MSCI China A Onshore indexes and MSCI China All Shares indexes. Hong Kong’s stock market reopened on Wednesday after a long holiday weekend, with the benchmark Hang Seng Index up 0.9%.

Persons: MSCI, ”, Luca Paolini, Hong Organizations: Hong Kong CNN — Global, Investors, Greentown China Holdings, Gemdale Corp, Uni, President, China Southern Airlines, Lufax Holdings, Genomics, Midea, MGI Tech, Management Locations: China, Hong Kong, Shanghai, Shenzhen, Fuyang, China's, Anhui, AFP, Hangzhou, President China, Beijing, Geneva, Mainland

Enter the Swiss franc, a longstanding safe haven asset that just hit its highest level against the euro since 2015 , standing tall as its traditional rivals lose appeal. Other than U.S. dollar cash, only the Swiss franc and gold remained as options, Ielpo said. The Swiss franc has rallied over 3% against the yen this month. Reuters GraphicsUNCERTAIN WORLDSince the Oct.7 Hamas attacks in Israel, the Swiss franc -- also referred to as the Swissie -- has rallied roughly 2% against the dollar. "The war in the Middle East clearly has lead to a flight to safety that benefited the Swiss franc," said Karsten Junius, an economist at J.Safra Sarasin in Zurich.

Persons: Morgan Stanley, Florian Ielpo, Ielpo, Jeremy Stretch, Karsten Junius, Francesco Pesole, J.Safra Sarassin's Junius, Luca Paolini, Paolini, Treasuries, Toby Gibb, Naomi Rovnick, Alun John, John Revill, Amanda Cooper, Dhara, Dhara Ranasinghe, Tomasz Janowski Organizations: Swiss, Nestle, Wall, Lombard, U.S, Swiss National Bank, Traders, Ministry of Finance, CIBC Capital Markets, Reuters, ING, Management, Artemis, Thomson Locations: ZURICH, Israel, Geneva, Japan, Zurich, Swiss, U.S, London

Still, money market traders are split on the odds of another increase later in the year.FEDWATCH"The 25 basis point rise is a done deal. "The risk is that the Fed, looking at market bullishness, may not want to sound too dovish - they may want to keep the door open for more rate hikes." The MSCI world equity index (.MIWD00000PUS), which tracks shares in 47 countries, was flat. In Hong Kong, the Hang Seng index (.HSI) was down 0.3% and China's blue chip CSI300 index (.CSI300) was off 0.2%. Positive sentiment had returned to China's market on Tuesday, when the CSI 300 Index snapped a six-day losing streak.

Persons: Luca Paolini, Alison Rose, Nigel Farage's, We're, David Chao, Tom Wilson, Scott Murdoch, Jamie Freed, Kim Coghill Organizations: Fed, Federal, Pictet Asset Management, NatWest, BBC, Lloyds, CSI, ECB, Brent, Thomson Locations: SYDNEY, U.S, Germany, France, Britain, CHINA, Asia, Pacific, Japan, Hong Kong, London, Sydney

For some, the answer to exuberant markets lies in the ample cash still sloshing around the financial system. Total global liquidity, a measure of cash and credit in the world economy, has risen to almost $170 trillion in June, Crossborder calculates, from $158 trillion in October. Central banks have added a net $1.7 trillion into money markets since November, it also estimates, a move that correlates with a risk-taking trend. But an alternative scenario is that U.S. money market funds, stuffed with cash after depositors fled regional banks in March, buy enough newly issued Treasuries to keep rates stable. "Liquidity is not a force that reverberates immediately into financial markets," said JPMorgan global market strategist Nikolaos Panigirtzoglou.

Persons: Michael Howell, Crossborder, Richard Clarida, Georgina Taylor, Ken Taubes, reverberates, Nikolaos Panigirtzoglou, Morgan Stanley, Luca Paolini, Paolini, Naomi Rovnick, Harry Robertson, Dhara Ranasinghe, Kirsten Donovan Organizations: U.S . Treasury, Federal Reserve, European Central Bank, Crossborder Capital, U.S, Reuters, BNP, JPMorgan, Apple, Thomson Locations: Japan, U.S

☆ Asian stocks subdued ahead of US inflation data, Fed minutes
▼ + stars: | 2023-04-12 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Data on Tuesday showed China's consumer inflation in March was at its slowest since September 2021. The consumer price index is expected to show core inflation rose 0.4% on a monthly basis and 5.6% year-over-year in March, according to a Reuters poll of economists. Markets are now pricing in a 66% chance of the Fed raising interest rates by 25 basis points in May and then pausing for the subsequent meetings, according to the CME FedWatch tool. The Fed last month raised interest rates by a quarter of a percentage point, taking it to a range of 4.75% to 5.00%. "Investors seem to be getting ahead of themselves in expecting the Fed to begin cutting interest rates", said Luca Paolini, chief strategist at Pictet Asset Management.

☆ These 7 global stocks are bucking the bearish trend, with analysts hiking price targets
▼ + stars: | 2023-04-12 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

"I think the analysts are a bit too optimistic. Despite this gloomy outlook, there are a handful of stocks that appear to be bucking the bearish trend. For investors with an appetite for U.S. stocks , the following table shows stocks that meet the same criteria in the S & P 500 . Delta Air Lines , also included on this list, stood out for having a 50% upside potential from its current share price. The stock, up 3.38% so far this year, is rated as buy or overweight by all 21 analysts covering it.

☆ Earnings will probably disappoint but investors are positioned for that, strategist says
▼ + stars: | 2023-04-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEarnings will probably disappoint but investors are positioned for that, strategist saysLuca Paolini, chief strategist at Pictet Asset Management, discusses earnings season, the economic outlook and how to position amid a credit crunch.

☆ Stocks falter as economic worries nag, big rate hike lifts kiwi dollar
▼ + stars: | 2023-04-05 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +4 min

[1/2] A stock broker looks at his screens at the stock exchange in Frankfurt, Germany, March 16, 2023. REUTERS/Kai Pfaffenbach/File PhotoSummary Graphic: World FX ratesGraphic: Global asset performanceWorld stocks pull back from 7-week highsNZ dollar rallies after big rate hikeLONDON, April 5 (Reuters) - World stock markets stumbled on Wednesday as signs that the economic outlook is weakening spurred caution, while a bigger-than-expected interest-rate hike from New Zealand lifted the kiwi dollar. European stocks fell with the broad STOXX 600 index pulling away from Tuesday's one-month highs (.STOXX). U.S. equity futures dipped , and Japan's Nikkei (.N225) fell 1.6% in its biggest one-day percentage fall since mid-March. Weak U.S. economic data this week has exacerbated recession worries, taking the edge off recent stock market gains.

☆ Rate jitters extend February flop for stocks
▼ + stars: | 2023-02-22 | by ( Naomi Rovnick | ) www.reuters.com time to read: +4 min

[1/3] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 16, 2023. "The economic data has been much more resilient than we all thought (it would be) and we have to accept that." "A bear market rally driven by expectations that inflation would drop and interest rates would peak out may be over," said Trevor Greetham, head of multi-asset at Royal London Asset Management. "The big call this year will still be (a) recession," he added, as "interest rates go higher," in a move that would eventually spark "an earnings driven bear market (that) hasn't started yet." New Zealand's central bank also raised interest rates by 50 bps on Wednesday to a more than 14-year high of 4.75%, flagging more monetary tightening to come.

☆ Stocks muted, Sweden kicks off salvo of central bank hikes
▼ + stars: | 2022-09-20 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

The MSCI all country stock index (.MIWD00000PUS) was 0.2% ahead, leaving it down about 20% from a lifetime high in January. Sweden's central bank hiked rates by a greater than expected full percentage point on Tuesday and warned of more to come. read moreLuca Paolini, chief strategist at Pictet Asset Management, said the U.S. central bank would likely ease the pace of hikes going into next year. "The market, in a way, is probably expecting a peak in rates," Paolini said, adding that market focus would then switch to how higher rates were affecting economies and company earnings. Terminal rate projection also leapsCONTRARIAN CHINAChina's central bank kept its benchmark lending rates unchanged at a monthly fixing on Tuesday, as expected.

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