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☆ The Fed probably won't cut interest rates just yet — but its next move is expected to be good for Americans
▼ + stars: | 2023-10-31 | by ( Ayelet Sheffey | Madison Hoff | ) www.businessinsider.com time to read: +5 min

It's expected to pause interest rate hikes. On Wednesday, the Federal Open Market Committee is expected to announce its next interest rate decision, and a hike probably isn't in the cards. In September, the Fed paused interest rate hikes as it continued to receive promising data on the country's economic recovery. Powell has not indicated whether a interest rate cut will come this year to get consumers further relief. AdvertisementAdvertisementEven if interest rate cuts are not on the horizon anytime soon, administration officials are confident Americans will not face a recession as they enter 2024.

Persons: It's, —, Nick Bunker, Bunker, Jerome Powell, Powell, we've, Greg McBride, we're, McBride, Janet Yellen, Joelle Gamble, Gamble Organizations: Federal, Service, Fed, North America, New York Federal, Bloomberg, White, National Economic Council Locations: Israel, Ukraine

☆ Uniper swings to $10 billion net profit as gas prices fall
▼ + stars: | 2023-10-31 | by ( Christoph Steitz | ) www.reuters.com time to read: +2 min

A person stands at escalators near the Uniper logo at the utility's firm headquarters in Duesseldorf, Germany, July 8, 2022. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsCompanies Uniper SE FollowGazprom PAO FollowFRANKFURT, Oct 31 (Reuters) - Germany's Uniper (UN01.DE), which was bailed out during Europe's energy crisis, swung to a nine-month net profit of 9.77 billion euros ($10.35 billion), boosted by falling gas prices that positively impacted future provisions. The result compares with a net loss of 40.3 billion euros in the same period last year, when ballooning costs to replace Russian gas threw the company into its biggest crisis ever, triggering a government rescue. The results come a week after Uniper detailed its outlook for 2023, expecting adjusted operating profit (EBIT) of 6 billion to 7 billion euros and full-year adjusted net profit of 4 billion to 5 billion euros. At the end of September, liabilities tied to derivatives, which grow or shrink in line with gas price developments, stood at 26 billion euros, down from 216 billion a year earlier.

Persons: Wolfgang Rattay, Jutta Doenges, Christoph Steitz, Rachel More, Kirsten Donovan Organizations: REUTERS, Gazprom PAO, Gazprom, Thomson Locations: Duesseldorf, Germany, FRANKFURT, Frankfurt, Ukraine

☆ STC reportedly drops plan to up stake in Spain's Telefonica to 9.9%
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

The logo of Spanish Telecom company is displayed atop the company's building in Madrid, Spain, September 6, 2023. Telefonica and STC declined to comment on the report. In September, Saudi Arabia's largest telecoms operator amassed a 9.9% stake worth 2.1 billion euros ($2.23 billion) in a move to become Telefonica's top shareholder, though it added it did not intend to acquire control or a majority stake. STC's holding consists of 4.9% of Telefonica's shares and financial instruments that give it another 5% in so-called economic exposure to the company. As Telefonica is considered a defence service provider, the Spanish defence ministry has a say in acquisitions and holdings between 5% and 10% unless the buyer commits not to request a seat on the board.

Persons: Violeta Santos Moura, David Latona, Belen Carreno, Jesus Aguado, Hadeel Al, Andrei Khalip Organizations: Spanish Telecom, REUTERS, Rights, STC, Telefonica, El Economista, Saudi, Inti Landauro, Thomson Locations: Madrid, Spain, Rights MADRID, Saudi, Spanish, Hadeel Al Sayegh, Riyadh

☆ US Supreme Court turns away challenge to steel import tariffs
▼ + stars: | 2023-10-30 | by ( John Kruzel | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +4 min

People visit the U.S. Supreme Court building in Washington, U.S., August 31, 2023. Biden's administration had urged the Supreme Court not to take up the appeal. PrimeSource appealed to the Supreme Court in July. The Supreme Court in March turned away a challenge to the 2018 tariffs by a group of U.S.-based steel importers. The justices in 2022 refused to hear a separate challenge by steel companies to Trump's 2018 decision to double tariffs on steel imports from Turkey, also on national security grounds.

Persons: Kevin Wurm, Donald Trump, Irving, Joe Biden's, Wilbur Ross, Trump, Judge Richard Taranto, PrimeSource, John Kruzel, Will Dunham Organizations: U.S, Supreme, REUTERS, Rights, Trump, Commerce, Congress, Court of International Trade, White, Appeals, Federal Circuit, Trade, European Union, Thomson Locations: Washington , U.S, Irving , Texas, United States, St, Louis, Oman, Manhattan, Washington, China, Turkey

☆ Analysis: Three years after DirectBooks, US bond market still phoning it in
▼ + stars: | 2023-10-30 | by ( Shankar Ramakrishnan | Thomson Reuters | Shankar Ramakrishnan Has Nearly Years Of Financial Journalism Experience In Writing | ) www.reuters.com time to read: +6 min

There is also some concern about job losses and loss of market access by smaller banks. Changing an organization's behavior is difficult and takes sustained effort, said DirectBooks CEO Rich Kerschner. Interest in automation grew as desks struggled with corporate bond volumes that touched a record $1.78 trillion in 2020. Three years into it, only a small proportion of orders and allocation messages for a new bond were going through DirectBooks. Once in place, hundreds of investors using OMS platforms could send their order messages and receive allocation messages through DirectBooks, said Kerschner.

Persons: Carlo Allegri, Rich Kerschner, Spencer Lee, salespeople, Daniel Botoff, Goldman Sachs, Morgan Stanley, DirectBooks, Chris Sztam, BlackRock's Aladdin, RBC's Botoff, Shankar Ramakrishnan, Anna Driver Organizations: New York Stock, REUTERS, Bloomberg, underwriters, RBC Capital Markets, Bank of America, Barclays, BNP, Citi, Deutsche Bank, JPMorgan, P Global Market Intelligence, Development, Thomson Locations: Manhattan, New York City , New York, U.S, Wells, DirectBooks, Charles

☆ Silverman: Recent options activity shows waning interest in mega-cap tech stocks
▼ + stars: | 2023-10-30 | 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 EmailSilverman: Recent options activity shows waning interest in mega-cap tech stocksAmy Wu Silverman, Head of Derivatives Strategy at RBC Capital Markets, discusses market breadth, options activity, and the weighting of the Magnificent Seven stocks.

Persons: Silverman, Amy Wu Silverman Organizations: RBC Capital Markets

☆ Investors on edge as Middle East conflict intensifies
▼ + stars: | 2023-10-28 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +3 min

Investors have grown more worried about a widening conflict in recent days after the U.S. dispatched more military assets to the Middle East while Israel attacked targets in Gaza and Hamas supporters in Lebanon and Syria. Some investors also expect a widening conflict could prompt safe-haven buying of Treasuries. "However, an escalation of the conflict would likely shift attention away from monetary policy concerns and boost safe-haven demand for Treasuries." The Cboe Volatility index (.VIX) has climbed in the wake of the conflict and rose on Friday, approaching seven-month highs. The Federal Reserve is set to give its latest monetary policy statement on Wednesday, while Apple's quarterly results highlights another busy week of corporate reports.

Persons: Dado Ruvic, ”, Randy Frederick, Charles Schwab, Brent, Peter Cardillo, Lewis Krauskopf, David Randall, Ira Iosebashvili, David Gregorio Our Organizations: REUTERS, Federal, Hamas, Investors, U.S, Capital Economics, Spartan Capital Securities, UBS Global Wealth Management, Thomson Locations: Gaza, East, Israel, Lebanon, Syria, Treasuries, U.S

☆ Wall St Week Ahead Frazzled U.S. stock investors eye frothy Treasury market as Fed looms
▼ + stars: | 2023-10-28 | by ( David Randall | ) www.reuters.com time to read: +4 min

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. October has lived up to its reputation for volatility, as a surge in Treasury yields and geopolitical uncertainty pressured stocks. Higher Treasury yields are seen as a headwind to stocks, in part because they compete with equities for buyers. More broadly, some believe the stock market's trading patterns this year point to a rebound in the fourth quarter. "The stock market is poised for a late Q4 rally."

Persons: Brendan McDermid, Sam Stovall, CME's, Alex McGrath, Charlie Ripley, Tesla, Stovall, Ned Davis, Randy Frederick, David Randall, Ira Iosebashvili, Richard Chang Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Apple Inc, Treasury, Strong U.S, CFRA Research, Investors, U.S, Gross, Fed, Allianz Investment Management, Google, CFRA, Ned Davis Research, Schwab Center, Financial Research, Thomson Locations: New York City, U.S

☆ Country Garden has defaulted on its debt. What’s next?
▼ + stars: | 2023-10-27 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s giant property developer Country Garden has been declared in default on its debt after failing to make a bond repayment by a final deadline of October 18. It’s similar to an insurance product in that it can protect buyers against losses arising from debt default by a company or government. Country Garden, formerly China’s largest homebuilder, missed the payment on a $500 million bond as it battles a liquidity crisis. “Country Garden was once considered a safe name, even as peers like Evergrande and Sunac China went bankrupt around them. What’s next for Country Garden?

Persons: JP Morgan, Goldman Sachs, Jeff Zhang, ”, John Bringardner, What’s, “, ” Zhang, Bringardner Organizations: Hong Kong CNN, CDS, Citadel Americas, Morningstar, Country Garden, Sunac Locations: Hong Kong, Sunac China, New York, China

☆ Explainer: What is pushing the Nigerian naira to record lows?
▼ + stars: | 2023-10-27 | by ( Chijioke Ohuocha | ) www.reuters.com time to read: +4 min

Investors cheered when Tinubu lifted the currency controls, hoping a unified exchange rate would make it easier to access foreign currency, but that is yet to happen. Banks then repaid foreign credit lines with their own funds when the central bank did not pay out. New central bank governor Yemi Cardoso said clearing the backlog was a priority but he gave no timeline for how long it would take. The country's forex reserves fell to $33.5 billion in September from $37 billion in January, central bank data shows. Banks use their open net positions on foreign currency to finance short-term trade lines without resorting to the central bank for bidding.

Persons: Bola Tinubu, Tinubu, corporates, Banks, Yemi Cardoso, Chijioke Ohuocha, MacDonald Dzirutwe, Hugh Lawson Organizations: JPMorgan, FX, National Economic Council, BANK, Thomson Locations: ABUJA, Nigeria

☆ Billionaire GOP mega-donor Ken Griffin may have a new Republican fave
▼ + stars: | 2023-10-25 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Citadel founder Ken Griffin said his one-time favorite candidate, Florida Gov. Griffin, who has been looking for an alternative to former President Donald Trump, called Nikki Haley a rockstar. Griffin was speaking at the Robin Hood conference in New YorkNEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementBillionaire Citadel founder Ken Griffin may have a new favorite candidate in the GOP presidential primary.

Persons: Ken Griffin, Ron DeSantis, Griffin, Donald Trump, Nikki Haley, Robin Hood, —, Paul Tudor Jones, Haley, DeSantis, Chris Christie —, Steve Cohen, Robin Hood —, Joe Biden Organizations: Citadel, Florida Gov, Robin, Service, Billionaire, South Carolina Gov, New, New York City, Trump, Citadel Securities, SEC Locations: Iowa, New York, New Jersey, New Hampshire

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Microsoft, Gap, Verizon, Alphabet & more
▼ + stars: | 2023-10-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Wells Fargo upgrades Gap to overweight from equal weight Wells said the turnaround is taking shape for Gap. Deutsche Bank upgrades Livent to buy from hold Deutsche said it sees an attractive entry point for the lithium company. Bank of America downgrades TransUnion to underperform from buy Bank of America double downgraded the stock due to concerns about consumer lending. Bank of America initiates Syndax as buy Bank of America said it sees upside for the pharmaceutical company. Monness, Crespi, Hardt & Co. downgrades Alphabet to neutral from buy Monness said it's concerned about regulatory headwinds.

Persons: TD Cowen, Freyr, FREY, Goldman Sachs, Goldman, it's, We're, Wells, Needham, Etsy, Piper Sandler, Piper, TRU, SocGen, Bernstein, Deutsche Bank downgrades Corning, 2H24, Jefferies, Monness, Crespi, Hardt, Piper Sandler downgrades Livent Organizations: EV, Apple, BMO, Bank of America, Microsoft, GPS, Alto Networks, Deutsche Bank, Deutsche, Citi, TAM, Barclays, Verizon, Piper Sandler downgrades Regions, Citizens Financial, RF, " Bank of America, Farfetch, Machinery, UBS, Nvidia, Veeva, Commercial, Syndax Pharmaceuticals Locations: EVgo, Cybersecurity, Corning, Albemarle, LTHM

☆ Rising yields and war: Here's how to trade the volatility, according to fund managers
▼ + stars: | 2023-10-25 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Market volatility looks here to stay: Yields are still rising, a war is raging, and it's uncertain whether interest rates will stay higher for longer. Go for bonds Though volatility in the bond market has led to losses, some fund managers are saying that it's time to get back into this asset class, given that yields are high. Money market funds typically include short-term Treasurys. Bond yields move inversely to prices — that means a peak in interest rates may signal that bond prices have bottomed. When interest rates rise, bond prices typically fall as existing bonds with lower yields become less attractive.

Persons: Investors, David Katz, Katz, Bryn Jones, there's, Jones, Hide, Paul Meeks, Meeks, Steven Glass, Glass, Marsh McLennan, he's, they're, — CNBC's Michael Bloom Organizations: Treasury, Bank of America, Matrix Asset, CNBC Pro, gilts, U.S . Federal, Treasury Bond ETF, Pella Funds, Group, ASM, Taiwan's Locations: Israel, United States, China, U.S, Pella, Germany, Netherlands

☆ Bitcoin leaps to 2023 high on ETF bets
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +3 min

Bitcoin rose more than 6% to $35,198, its highest since May 2022. It had surged 10% on Monday in its best session for almost a year and its price has doubled in 2023. Crypto-linked shares such as Coinbase Global (COIN.O) or bitcoin owner MicroStrategy (MSTR.O) rose in after-hours trade. An exchange-traded fund (ETF) owning bitcoin on behalf of fund investors is seen as a driver of demand because it would allow anyone reluctant to trade crypto markets a means of buying exposure to bitcoin through the stockmarket. So the ETF would make a large audience and increase liquidity," said Steen Jakobsen, CIO at Saxo.

Persons: Dado Ruvic, MicroStrategy, Steen Jakobsen, Kyle Rodda, Capital.com, Javier Milei, Tom Westbrook, Rae Wee, Brigid Riley, Shri Navaratnam Organizations: REUTERS, BTC, Investment, BlacRock's, Reuters, U.S . Securities, Exchange Commission, Saxo, BlackRock, SEC, Hamas, Thomson Locations: Asia, SINGAPORE, BlackRock, U.S, Singapore, Tokyo

☆ U.S. Derivatives Regulator Plans Tougher Enforcement Approach
▼ + stars: | 2023-10-18 | by ( Richard Vanderford | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/u-s-derivatives-regulator-plans-tougher-enforcement-approach-8a293f75

Persons: Dow Jones

☆ Stock futures rise slightly to kick off a busy earnings week: Live updates
▼ + stars: | 2023-10-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures inched higher in overnight trading Sunday ahead of a busy week for corporate earnings. Futures tied to the Dow Jones Industrial Average added 0.1%, while S&P 500 futures and Nasdaq-100 futures gained 0.12% and 0.16%, respectively. The S&P 500 advanced 0.45% for its second consecutive positive week, while the Dow Jones Industrial Average gained 0.79%. Meanwhile, Wall Street assessed a slew reports from major financial firms, with JPMorgan Chase and Wells Fargo gaining 1.5% and 3%, respectively. On the economic front, Wall Street awaits the Empire State Index for October due out Monday.

Persons: Stocks, Eric Johnston, Cantor Fitzgerald's, CNBC's, Chuck Schumer, Johnson, Charles Schwab Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Dow Jones Industrial, Dow, Wall, JPMorgan Chase, Wells, Johnson, Bank of America, Netflix, Tesla, Index Locations: Israel, Gaza, U.S

☆ Cricket-mad India is hosting the World Cup – and tickets are reselling at astronomical prices
▼ + stars: | 2023-10-13 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

India is hosting the Cricket World Cup over the next two months. Secondhand ticket prices have soared – although some fans say the process to buy them has been poorly-managed. AdvertisementAdvertisementCricket-mad India is currently hosting the sport's flagship event, the ODI World Cup – but fans who want to see the national team play live might have to pay thousands of dollars for the privilege. Tickets are reselling on secondhand marketplaces for sky-high prices, while supporters are complaining that the process to buy seats for marquee games has been poorly managed. AdvertisementAdvertisementThe official website for the World Cup says tickets for future India matches are "coming soon" – even though the Rohit Sharma-led side are slated to take on New Zealand in Dharamsala in just 10 days' time.

Persons: Bloomberg he’d, —, Nikhil Wadhwani, he'd, –, Wadhwani, Rohit Sharma, Taylor Swift, Olivia Rodrigo Organizations: Cricket, Bloomberg, Service, Pakistan's, scalpers, New Zealand, NBA, England Locations: India, Pakistan, Ahmedabad, Mumbai, New, Dharamsala, Australia

☆ We're going to have a soft landing, says BMO's Brian Belski
▼ + stars: | 2023-10-13 | 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 EmailWe're going to have a soft landing, says BMO's Brian BelskiEric Johnston, Cantor Fitzgerald's head of equity derivatives and cross-asset, and Brian Belski, chief investment strategist at BMO Capital Markets, join 'Closing Bell' to discuss the possibility of a late-year rally, the outlook for interest rates, and more.

Persons: Brian Belski Eric Johnston, Cantor Fitzgerald's, Brian Belski Organizations: BMO Capital Markets

☆ Watch CNBC's full interview with Cantor Fitzgerald's Eric Johnston and BMO's Brian Belski
▼ + stars: | 2023-10-13 | 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 EmailWatch CNBC's full interview with Cantor Fitzgerald's Eric Johnston and BMO's Brian BelskiEric Johnston, Cantor Fitzgerald's head of equity derivatives and cross-asset, and Brian Belski, chief investment strategist at BMO Capital Markets, join 'Closing Bell' to discuss the possibility of a late-year rally, the outlook for interest rates, and more.

Persons: Cantor Fitzgerald's Eric Johnston, BMO's Brian Belski Eric Johnston, Cantor Fitzgerald's, Brian Belski Organizations: BMO Capital Markets

☆ How the Azores islands went from whale hunting to whale watching
▼ + stars: | 2023-10-12 | by ( Anne Pinto | ) edition.cnn.com time to read: +10 min

Soon, factories processing whale oil, meat and bones sprung up on the islands. After crude oil was discovered in 1859, the demand for whale oil decreased dramatically in the following decades. In 1990, French national Serge Viallele set up the first whale watching company in the archipelago, on Pico island. The number of whale watching boats is strictly limited by a license system, which issues a maximum number per island – or per zone for the smaller islands. For now, whale watching remains a major draw for visitors to the islands.

Persons: ”, Rui de Souza Martins, Azorean, they’d, De Agostini, –, – didn’t, José Carlos Garcia, São Miguel, Pedro Madruga, wasn’t, Francois Gohier, Serge Viallele, “ Viallele, Miguel Cravinho, Francisco Garcia, ” de Souza Martins, you’ll, Martin Zwick, Jean, Michel Cousteau, Luís Silva, Garcia, “ Organizations: CNN, University of, Whaling, Whalers, Netflix, International Whaling Commission, IWC, Azul, World Cetacean Alliance, Centre for Research Locations: Azores, Lisbon, Azoreans, Portugal, United States, Nantucket and New Bedford , Massachusetts, Massachusetts, Pico, Francois, Terra Azul, Miguel, Europe

☆ Analysis: Use of weather derivatives surges as extreme climate events rock the globe
▼ + stars: | 2023-10-11 | by ( Harry Robertson | ) www.reuters.com time to read: +6 min

Weather derivatives were born in the late 1990s. Climate change and the El Nino weather phenomenon combined to make the northern hemisphere summer of 2023 the hottest ever recorded, according to the European Union Climate Change Service. Weather derivatives let buyers hedge against the risk that the weather will damage their business. Average open interest in CME weather futures and options contracts in September was around 170,000 contracts, compared to roughly 10 times that for crude oil - although market participants reckon 90% of the weather derivatives market is in over-the-counter deals. "Extreme weather events tend to make good marketing for weather futures," said Samuel Randalls, a professor at University College London who focuses on weather and climate.

Persons: Andrew ., Ken Griffin's, Peter Keavey, Griffin's Citadel, Nick Ernst, Ernst, Matthew Hunt, Samuel Randalls, David Whitehead, Whitehead, UCL's Randalls, BGC's Ernst, Martin Malinow, Harry Robertson, Emelia Sithole Organizations: NYPD, REUTERS, Energy, Chicago Mercantile Exchange, Enron, CME Group, El, Change, Graphics, University College London, Citadel, Thomson Locations: Manhattan, Williamsburg, New York City, U.S, Paris, New York, Ukraine

☆ Top Italy court confirms acquittals in Monte dei Paschi derivatives case
▼ + stars: | 2023-10-11 | by ( Marco Carta | ) www.reuters.com time to read: +2 min

View of the entrance to the headquarters of Monte dei Paschi di Siena (MPS), the oldest bank in the world, which is facing massive layoffs as part of a planned corporate merger, in Siena, Italy, August 11, 2021. Among the 15 defendants cleared by Italy's Supreme Court of Cassation were former MPS Chairman Giuseppe Mussari and its former Managing Director Antonio Vigni and Deutsche (DBKGn.DE) and Nomura (8604.T). The appeals court cancelled seizures imposed on Deutsche Bank and Nomura Holdings Inc (8604.T) for 64.9 million and 88 million euros, respectively. The case centred on two derivatives transactions — dubbed Alexandria and Santorini — that Nomura and Deutsche Bank arranged for MPS in 2009. MPS, the world's oldest bank still in business and Italy's fifth biggest listed lender, had reached a court settlement in 2016 in the derivatives case at a cost of 10.6 million euros.

Persons: Jennifer Lorenzini, Siena, Giuseppe Mussari, Antonio Vigni, Nomura, Marco Carta, Keith Weir, Valentina Za Organizations: Monte, REUTERS, Rights, Monte dei, Deutsche Bank, Nomura, Italy's, Cassation, Deutsche, Nomura Holdings Inc, MPS, Prosecutors, Thomson Locations: Monte dei, Siena, Italy, Milan, Alexandria

☆ Use of weather derivatives surges as extreme climate events rock the globe
▼ + stars: | 2023-10-11 | by ( Harry Robertson | ) www.reuters.com time to read: +6 min

☆ Silverman: If mega-cap tech stocks are okay, a broader market sell-off is unlikely
▼ + stars: | 2023-10-11 | 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 EmailSilverman: If mega-cap tech stocks are okay, a broader market sell-off is unlikelyAmy Wu Silverman, Head of Derivatives Strategy at RBC Capital Markets, discusses options activity and market volatility.

Persons: Silverman, Amy Wu Silverman Organizations: RBC Capital Markets

☆ China-exposed European stocks rise after report of new stimulus
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. REUTERS/Peter Nicholls/File Photo Acquire Licensing RightsLONDON, Oct 10 (Reuters) - China-exposed European stocks rose on Tuesday after Bloomberg reported China is looking to increase its budget deficit for 2023, part of a new round of stimulus to help the economy. Miners Anglo American , Antofagasta (ANTO.L) and Glencore (GLEN.L), and financial services companies Standard Chartered (STAN.L), (2888.HK) and Prudential (PRU.L) all rose 3-5%. Stephane Ekolo, global equity strategist at TFS Derivatives, said the news was "absolutely" driving price action in European assets. "When China sneezes, the world catches a cold, so a new potential stimulus is seen as a positive catalyst," Ekolo said.

Persons: Peter Nicholls, Stephane Ekolo, China sneezes, Ekolo, Alun John, Amanda Cooper Organizations: Chartered, REUTERS, Bloomberg, Miners, HK, Prudential, TFS, Thomson Locations: London, Britain, China, American, Antofagasta

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