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☆ 1st Pakistani individual gold medalist, whose village helped fund his Olympic path, returns home a hero
▼ + stars: | 2024-08-12 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +5 min

After Pakistani javelin athlete Arshad Nadeem hurtled his way into the Olympic history books, his country threw him welcome celebrations fit for a king. Arshad Nadeem, 27, took the top spot in javelin last week in the Paris Games, becoming the first Pakistani to win an individual gold medal in the country’s history. Arshad Nadeem outside his village in Mian Channu, Pakistan, on Aug. 11. Arshad Nadeem of Pakistan during the men's javelin throw final at the Paris 2024 Olympics, on Aug. 8. “We developed our own weight training apparatus by using iron rods, canisters of oil and concrete.”Gold medalist Arshad Nadeem of Pakistan during the victory ceremony.

Persons: Arshad Nadeem hurtled, Arshad Nadeem, Asim Tanveer, Nadeem, Mian Channu, ”, Neeraj Chopra, Arshad Nadeem of, Matthias Schrader, Salman Iqbal Butt, Ali Sher Bajwa, ” Nadeem, Arshad, Muhammad Ashraf, “, Shahid Nadeem, Kirill Kudryavtsev, Chopra, ” Chopra, “ Arshad, that’s, “ I’ve, Imran Khan, “ Neeraj, Al Organizations: Paris Games, Express Tribune, Olympics, Barcelona Games, Times, Reuters, Getty, Economic Times, Al, Indian Express Locations: Lahore, Mian Channu, Pakistan, Mian, Los Angeles, Arshad Nadeem of Pakistan, Times of India, AFP, India

☆ 'A Good Girl's Guide To Murder' lead Emma Myers said it was 'scary' she had two weeks to prepare for the role, including nailing her British accent
▼ + stars: | 2024-08-01 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +3 min

Read preview"A Good Girl's Guide To Murder" lead actor Emma Myers told Business Insider that she had two weeks to practice her British accent for the role before shooting started. The 2019 novel that the series is based on, "A Good Girl's Guide To Murder" by Holly Jackson, was a New York Times bestseller and became popular after blowing up on "BookTok." Ravi (Zain Iqbal) and Pip (Emma Myers) try to solve a five-year-old murder case in "A Good Girl's Guide to Murder" season one. A representative for Netflix did not immediately respond to a comment request from Business Insider outside business hours. "A Good Girl's Guide To Murder" premieres on Netflix on August 1.

Persons: —, Emma Myers, Myers —, Pip Fitz, Pip, Holly Jackson, Myers, wasn't, Ravi, Zain Iqbal, Sally Mais Organizations: Service, Netflix, Business, New York Times Locations: Florida

☆ Pakistan Says It Will Ban Party of Jailed Former Leader Imran Khan
▼ + stars: | 2024-07-15 | by ( Christina Goldbaum | Salman Masood | ) www.nytimes.com time to read: +1 min

Pakistan’s government plans to ban the party of the imprisoned former Prime Minister Imran Khan, officials said on Monday, a decision expected to exacerbate the political turmoil that has consumed the country for the past two years. The country’s information minister, Attaullah Tarar, said the government was moving to outlaw Mr. Khan’s party, Pakistan Tehreek-e-Insaf, or P.T.I., after actions that had posed “a direct threat to the fabric of our nation.”But analysts said the decision — which few expect to be upheld in court — reflected growing desperation by the Pakistani government. It has struggled to assert its authority after an election this year in which the country’s powerful military was accused of rigging dozens of races against the broadly popular P.T.I. “If pushed through, it will achieve nothing more than deeper polarization and the strong likelihood of political chaos and violence,” Asad Iqbal Butt, chairman of the Human Rights Commission of Pakistan, said in a statement.

Persons: Imran Khan, Attaullah Tarar, —, ” Asad Iqbal Butt Organizations: Human Rights Locations: Pakistan

☆ Gaza: The Labour party’s position on the conflict appears to have cost it votes in the UK election
▼ + stars: | 2024-07-05 | by ( Christian Edwards | ) edition.cnn.com time to read: +5 min

Corbyn won 49.2% of the vote, while the Labour candidate came in second with 34.4%. Many of these seats where Labour appears to have lost votes over its position on Gaza have sizable Muslim populations. She said, after Streeting abstained from a vote on a Gaza ceasefire, she decided to enter politics and abdicate from Labour. “As a Palestinian, that place is no longer for me… The Labour party does not represent us,” she told CNN. Meanwhile Jess Phillips, also a prominent Labour figure, won her Birmingham Yardley seat by just 693 votes.

Persons: Keir Starmer, Jonathan Ashworth, Shockat Adam, ” Adam, Jeremy Corbyn, Ashworth, Corbyn, ”, Kate Hollern –, –, Adnan Hussain, Iqbal Mohamed, Heather Iqbal, Birmingham Perry Barr, Ayoub Khan, Khalid Mahmood, Faiza Shaheen –, Iain Duncan Smith, “, ” Shaheen, Starmer, Israel’s, Starmer –, Israel “, Wes Streeting, Leanne Mohamad, Mohamad, Streeting, Jess Phillips, Jody McIntyre Organizations: London CNN, Gaza, Labour, Leicester South, Islington, Blackburn, Dewsbury, Batley, Conservative, Hamas, LBC, Scottish National Party, CNN, Birmingham, Workers Party of Britain Locations: Gaza, English Midlands, Birmingham, Chingford, Woodford, London, Israel, Leicester, Ilford, Blackburn, Starmer’s, Ilford North, Palestine, Birmingham Yardley

Rights groups are furious the Taliban meeting is going ahead without Afghan women, and say it legitimizes Afghanistan’s leaders and fails to hold them to account for grave injustices. Whatever we had, we spent it,” Arzo’s brother Ahamad, a 27-year-old journalist under threat from the Taliban due to his occupation, told CNN in November. Arzo told CNN what drove her suicide attempt. Pakistan’s policy on “illegal foreigners” is no different to that of other nations, Pakistani Ministry of Foreign Affairs spokeswoman Mumtaz Zahra Baloch told CNN. CNNArzo doesn’t want a life like that for herself, her sister, or the women and girls still in Afghanistan.

Persons: ”, Arzo, Javed Iqbal, ” Richard Bennett, Zabihullah Mujahid, “, Richard Bennett, weren’t, – they’ll, They’re, Mahsa, Ahamad, Doctors, Arzo’s, CNN Arzo hadn’t, ” Mahsa, they’ve, can’t, Moniza Kakar, Rain, Kakar, Abbas, Mumtaz Zahra Baloch, Baloch, hadn’t, ” Amanullah, He’s, Amanullah, he’s, CNN Arzo, Heather Barr, ” Barr, “ It’s, Bennett, she’ll, “ I’m Organizations: CNN, Lifeline, International Association for Suicide Prevention, Befrienders Worldwide, Pakistan CNN —, United Nations, Human Rights, UN, Security, “ ACC ”, Afghan, ACC, Pakistani Ministry of Foreign, “, Taliban, Human Rights Watch, International Court of Justice, Criminal Court, ICC Locations: Karachi, Pakistan, Pakistani, Afghanistan, CNN Pakistan, Doha, Qatar, Afghan, Kabul, Islamabad, –, Soviet, ”, Canada, Israel, Gaza

NEW YORK, June 25 (Reuters) - Shares of Nvidia (NVDA.O) New Tab , opens new tab surged nearly 7% on Tuesday, snapping out of a three-session tailspin that had erased about $430 billion from the artificial intelligence chipmaker's market value. Nvidia's shares finished at $126.09, after a tumble that saw them lose around 13% from their June 18 close of $135.58. The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. Bullishness on Nvidia was evident in the options market, though the stock's recent share price slide appears to have made traders more cautious. New Tab , opens new tabSave Share XFacebookLinkedinEmailLink Purchase Licensing Rights

Persons: Tom Hayes, it's, Hayes, Tyrone Siu, Tom Plumb, Plumb, you've, Mario Iachini, Chibuike Oguh, Saqib Iqbal Ahmed, Suzanne McGee, Medha Singh, Lewis Krauskopf, Ira Iosebashvili, Chris Reese, Aurora Ellis, David Gregorio Our Organizations: YORK, Nvidia, Great, Nvidia Corporation, REUTERS, Plumb Funds, Ortex Technologies, Vanda Research, Thomson Locations: New York, Taipei, Taiwan

☆ UBS overhauls wealth management leadership in wider board shake-up
▼ + stars: | 2024-05-30 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

The three keys USB logo is seen outside the London office of Swiss bank UBS in central London, on March 20, 2023. LONDON — UBS on Thursday announced a shake-up of its executive board in the latest phase of a radical overhaul of the Swiss banking giant, following its takeover of fallen rival Credit Suisse. It marks the first time a divisional UBS president has been based in Asia-Pacific, the bank said. George Athanasopoulos and Marco Valla also join the executive board as co-presidents of the investment bank, alongside Damian Vogel, incoming global chief risk officer. The trio replace outgoing board members Credit Suisse CEO Ulrich Korner, UBS Asia-Pacific President Edmund Koh, and UBS Americas Regional President Naureen Hassan.

Persons: Iqbal Khan, Rob Karofsky, Sergio Ermotti, Ermotti, George Athanasopoulos, Marco Valla, Damian Vogel, Ulrich Korner, Edmund Koh, Naureen Hassan Organizations: UBS, LONDON, Credit Suisse, Group, Credit, UBS Americas, Swiss Locations: London, Swiss, Asia, Pacific, U.S, Americas, UBS Asia

☆ UBS: Expect Fed to cut rates by 75 basis points this year, starting in June
▼ + stars: | 2024-04-01 | 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 EmailUBS: Expect Fed to cut rates by 75 basis points this year, starting in JuneFahd Iqbal, Middle East CIO at UBS Global Wealth Management, discusses the outlook for the Chinese and U.S. economies.

Persons: Fahd Iqbal Organizations: UBS, Middle, UBS Global Wealth Management Locations: U.S

☆ Bank of England rate cuts would help our business, ProsperCap says
▼ + stars: | 2024-01-29 | 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 EmailBank of England rate cuts would help our business, ProsperCap saysIqbal Jumabhoy, CEO of ProsperCap, discusses the company's business outlook, taking into account factors such as interest rate cuts and the return of Chinese tourists.

Persons: ProsperCap, Iqbal Jumabhoy Organizations: Email Bank of

☆ Brunei comes to a standstill for royal wedding of Prince Abdul Mateen
▼ + stars: | 2024-01-15 | by ( Heather Chen | ) edition.cnn.com time to read: +5 min

CNN —Life in the tiny oil-rich kingdom of Brunei came to a standstill Sunday for a grand royal wedding attended by heads of state and royals from Bhutan and Middle Eastern countries, the highlight of 10 days of celebrations. The lavish ceremony saw Prince Abdul Mateen, the tenth child and fourth son of Brunei’s Sultan Hassanal Bolkiah, wed his long-time partner, Yang Mulia Anisha Rosnah, the granddaughter of a royal adviser. Mohd Rasfan/AFP/Getty ImagesThe 32-year-old prince, a British-trained and educated military officer in the Brunei Royal Armed Forces who’s sixth in line to his father’s throne, has become the modern face of Brunei’s royal family. Iqbal Selamat/AFP/Getty ImagesThe royal wedding at Brunei's Istana Nural Palace. To Their Majesties Sultan Hassanal Bolkiah and Queen Raja Isteri, our warmest congratulations on this happy occasion.”Prince Mateen kneels before his father, Sultan Hassanal Bolkiah, after the solemnization ceremony.

Persons: Prince Abdul Mateen, Brunei’s, Brunei’s Sultan Hassanal Bolkiah, Yang Mulia, Rosnah, Nurul Iman, Bandar Seri Begawan, Mateen, Mohd Rasfan, Michael Jackson, Britain’s, Prince Charles, Teh Firdaus, –, Iqbal Selamat, Lee Hsien Loong, Hassanal Bolkiah, Raja Isteri, ” Prince Mateen, Sultan Hassanal Bolkiah, Mateen’s, Hassanal Organizations: CNN, Nurul, Royce, Getty, Brunei Royal Armed Forces who’s, Abaca Press, United Arab, Singapore Prime, AP, of Defense Locations: Brunei, Bhutan, Middle, Brunei’s Sultan, Bandar Seri, Bandar Seri Begawan, AFP, British, Malaysian, Nural, Saudi Arabia, Jordan, United Arab Emirates, Malaysia, Indonesia, Philippines, Borneo, Britain

☆ Stock-hungry volatility funds, ‘gamma-heavy' options dealers could buoy US equities
▼ + stars: | 2023-12-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

Options strategists believe market gyrations may stay subdued for some time - potentially smoothing the way for further gains in equities. The S&P 500 is up 19% year-to-date, following a 9% gain in November - its best monthly performance since July 2022. Since the VIX tends to move inversely to stocks, market participants watch it closely as an indicator of investor sentiment and positioning. Among the factors closely watched by market participants are the funds that take their signals from market volatility, selling when volatility picks up and buying when it subsides. History also shows that once volatility expectations become subdued, they can linger at low levels for a while.

Persons: Lucas Jackson, Ilya Feygin, Nomura, Charlie McElligott, Brent Kochuba, Cantor Fitzgerald, Eric Johnston, Cantor Fitzgerald’s, Johnston, Saqib Iqbal Ahmed, Ira Iosebashvili, Grant McCool Organizations: New York Stock Exchange, REUTERS, Federal, Monday, WallachBeth, Nomura Securities, ’, Thomson

☆ Bull market in view after S&P 500 hits fresh year-high
▼ + stars: | 2023-12-04 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

A close above 4,796.56 on the S&P 500 would confirm that the index has been in a bull market since bottoming out on Oct. 12, 2022, by one commonly used definition. By that definition, the bear market that began when the S&P 500 hit its previous record on Jan. 3, 2022 was not particularly painful. The S&P 500 closed down 25.4% at its lowest point, making this the fourth shallowest bear market experienced by the index since 1928, according to data from Yardeni Research. Over the last 50 years, the S&P 500 has risen an average of 16% in the three-month period leading up to a bull market. By contrast, the S&P 500 has logged average gains of just 0.2% and 2.0%, in the one-month and three-month period after a bull market is confirmed.

Persons: Carlo Allegri, San Francisco Fed, Saqib Iqbal Ahmed, Ira Iosebashvili, Lisa Shumaker Organizations: St, REUTERS, Yardeni Research, Reuters, San Francisco, Thomson Locations: Manhattan, New York City , New York, U.S

☆ UBS to expand presence in U.S. market - Swiss paper
▼ + stars: | 2023-12-03 | by ( ) www.reuters.com time to read: 1 min

A UBS logo is seen next to Credit Suisse at the Bahnhofstrasse before a news conference of Swiss bank UBS in Zurich Switzerland, August 30, 2023. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsDec 3 (Reuters) - Swiss bank UBS (UBSG.S) plans to expand its presence in the U.S. market as part of its strategy to hit $150 billion in net new money, or inflow of new funds, per year, an executive told Swiss newspaper NZZ Am Sonntag in an interview published on Sunday. The fourth-largest asset manager in the United States plans to invest heavily over the next three years, Iqbal Kahn, head of its asset management division, told the paper. Reporting by Victoria Waldersee, Paul Arnold Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, NZZ, Iqbal Kahn, Victoria Waldersee, Paul Arnold, Bernadette Baum Organizations: UBS, Credit Suisse, Swiss, REUTERS, Thomson Locations: Zurich Switzerland, Swiss, U.S, United States

☆ Resurgent S&P 500 crests new 2023 closing high after roller-coaster year
▼ + stars: | 2023-12-01 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

The benchmark index closed at 4,594.63, nearly 6 points above its previous closing high for 2023 set in late July. The S&P 500 is up over 19% year-to-date after posting its biggest monthly rise in over a year in November. The S&P 500 reached its previous 2023 closing high on July 31, also spurred in part by excitement over developments in artificial intelligence technology. The megacaps' outperformance has increased their combined weight to well over one-fourth of the entire S&P 500, meaning the stocks' moves have outsized influence on the benchmark index. The S&P 500 currently trades at roughly 19 times forward earnings estimates, compared to a historical average of 15.6 times.

Persons: Mike Segar, Jerome Powell, Stocks, Lewis Krauskopf, Noel Randewich, Saqib Iqbal Ahmed, Ira Iosebashvili, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, Federal, Valley Bank, Citigroup, Microsoft, Nvidia, Thomson Locations: Lower Manhattan, New York, U.S

Yields on the U.S. benchmark 10-year Treasury , which move inversely to prices, saw their steepest decline in more than a decade. The Fed chair reiterated that the fight against inflation was far from finished and said the central bank was ready to further tighten monetary policy if necessary. Investors see a strong chance of the central bank delivering a rate cut as early as March 2024, LSEG data show. In late 2022, for example, many expected a recession would hit this year, forcing the Fed to loosen monetary policy. The economy proved resilient while monetary policy stayed tight.

Persons: Jerome Powell, Brendan McDermid, Powell, Paul Nolte, Christopher Waller, “ Powell, that’s, ”, Ed Al, James St . Aubin, David Randall, Lewis Krauskopf, Saqib Iqbal Ahmed, Ira Iosebashvili, Daniel Wallis Organizations: New York Stock Exchange, REUTERS, Federal, Fed, Treasury, Murphy, Sylvest Wealth Management, Columbia Threadneedle Investments, Sierra Investment Management, Thomson Locations: New York City, U.S

☆ US bond investors brace for Fed rate cuts in 2024
▼ + stars: | 2023-11-30 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +5 min

Traders' confidence was reinforced earlier this week when Fed Governor Christopher Waller, a hawkish policymaker, flagged a possible rate cut in the months ahead. SOFR FUTURESBond investors also look to the Secured Overnight Financing Rate (SOFR) futures to gauge expectations of Fed rate moves. The June 2024 SOFR futures have priced at least one Fed cut, while the probability of two 25-basis-point rate reductions was at 76%. An OIS transaction involves exchanging an overnight rate such as the federal funds rate for a fixed one. For instance, in a U.S. two-year OIS transaction, one party receives a fixed two-year rate in exchange for paying the fed funds rate daily over the next two years.

Persons: Brendan McDermid, Robert Pavlik, Pavlik, Christopher Waller, Jerome Powell's, It's, Gertrude Chavez, Dreyfuss, Saqib Iqbal Ahmed, Stephen Culp, Alden Bentley, Paul Simao Organizations: Wall, REUTERS, Bond, U.S, Dakota Wealth Management, Fed, Spelman College, Reuters, Thomson Locations: New York, U.S, Fairfield , Connecticut, Atlanta

For much of this year central banks have successfully pushed back against rate cut bets. "I believe the Fed will act rationally and begin to cut rates by the end of next year, but we can't rule out the scenario that the Fed is not going to cut rates and just let the ramifications of recession do what they do." Reuters GraphicsSHIFT NEARINGMarkets now fully price in a 25 basis point U.S. rate cut in May, having seen a 65% chance earlier this week. "There are now committee members in all three (banks) willing to talk about rate cuts next year," said Chris Jeffery, head of rates and inflation strategy at LGIM. "The ECB should begin to ease policy as soon as April 2024, with risks that a more sinister downturn in growth could warrant a rate cut as soon as March," he said.

Persons: Jonathan Ernst, ramping, It's, Nate Thooft, Goldman, Christopher Waller, Huw Pill, Yannis Stournaras, Chris Jeffery, we'd, Dario Perkins, Simon Harvey, Yoruk, Naomi Rovnick, Harry Roberston, Davide Barbuscia, Ira Iosebasvili, Saqib Iqbal Ahmed, Dhara Ranasinghe, Catherine Evans Organizations: . Federal, REUTERS, ECB, U.S . Federal Reserve, European Central Bank, Manulife Investment Management, Treasury, Graphics, Bank of England, Deutsche, Lombard, Traders, Yoruk Bahceli, Thomson Locations: Washington, United States, Europe, Goldman Sachs, Greek, Amsterdam, London

☆ Appetite for stocks drives VIX options as investors guard portfolios
▼ + stars: | 2023-11-30 | by ( Laura Matthews | ) www.reuters.com time to read: +4 min

VIX options contracts averaged nearly 760,000 daily, surpassing the record set in 2017, according to Cboe Global Markets (CBOE.Z), data as of Nov. 27. Such investors are "looking at trading VIX options as a way to potentially monetize their thinking", he said. Reuters GraphicsThe rise in VIX options trading is a change from 2022 when investors were reducing equities exposure and hoarding cash, according to CBOE data. With the VIX averaging 17 this year, VIX options' trading volume as a share of overall options volume is at 1.76%, the highest since 2020 - a much more volatile year when the VIX averaged 29, according to a Reuters analysis based on Trade Alert data. Timing profit-taking on VIX options in an environment where jumps in the volatility index are fleeting can be difficult, said Roni Israelov, chief investment officer at NDVR.

Persons: Carlo Allegri, Mandy Xu, That's, Joe Ferrara, JJ Kinahan, Seth Hickle, Roni Israelov, Laura Matthews, Saqib Iqbal Ahmed, Megan Davies, Chizu Organizations: New York Stock, REUTERS, . Federal, Cboe Global, Gateway Investment Advisers, Reuters, Trade, Thomson Locations: Manhattan, New York City , New York, U.S, Indiana, New York

Rates futures markets are showing cuts being priced as early as May 2024, according to LSEG data. The prospects for rate cuts received a boost on Tuesday after Fed Governor Christopher Waller, deemed a hawk, hinted at lower interest rates in the months ahead if inflation continued to ease. Deutsche Bank economists on Monday projected 175 basis points in Fed rate cuts in 2024, but said that those cuts would come with a mild recession in the first half of next year. “Absent rapid Fed easing, we expect a more challenging macro backdrop for stocks next year,” they wrote in a Wednesday report. Others said investors may be overestimating how quickly the Fed might react to signs of slowing inflation.

Persons: Carlo Allegri, Jack Ablin, ” Ablin, Christopher Waller, ”, Jake Schurmeier, Schurmeier, Thomas Barkin, Charlie McElligott, Michael Green, David Randall, Lewis Krauskopf, Saqib Iqbal Ahmed, Ira Iosebashvili, Andrea Ricci Organizations: REUTERS, Federal Reserve, Treasury, Cresset, Gross, Harbor, Reuters, Richmond Fed, Nomura Securities, Deutsche Bank, JPMorgan, Management, Thomson Locations: Manhattan, New York City , New York, U.S, stoke, Carolina, New York

☆ Dollar slips on bets US rates have peaked
▼ + stars: | 2023-11-24 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. Currencies traded in a relatively narrow range with U.S. markets closing early the day after the U.S. Thanksgiving holiday. "I think what we're seeing is a classic case of the market taking the 'path of least resistance.'" The dollar index , which measures the U.S. currency with six peers, eased 0.4 % to 103.35 , staying close to the 2-1/2 month low of 103.17 touched earlier this week. German business morale improved for a third straight month in November, data showed.

Persons: Marcos Brindicci, Michael Brown, Jane Foley, Sterling, Saqib Iqbal Ahmed, Ankur Banerjee, Joice Alves, David Evans, Jason Neely, Richard Chang Organizations: REUTERS, U.S, Trader, P Global, Rabobank, Federal, ING, Thomson Locations: Buenos Aires, Argentina, London, Germany, Singapore

☆ Dollar eases on bets US rates have peaked
▼ + stars: | 2023-11-24 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. "I think what we're seeing is a classic case of the market taking the 'path of least resistance'," Brown said. The dollar index , which measures the U.S. currency with six peers, eased 0.3% to 103.43, staying close to the two-and-a-half month low of 103.17 it touched earlier this week. Elsewhere, the Japanese yen was about flat against the dollar at 149.53, after strengthening following data that showed Japan's core consumer price growth picked up slightly in October. Separate data showed German business morale improved for a third straight month in November.

Persons: Marcos Brindicci, Michael Brown, Brown, X's Brown, Sterling, Saqib Iqbal Ahmed, Ankur Banerjee, Joice Alves, David Evans, Jason Neely Organizations: REUTERS, U.S, Trader, P Global, Federal, ING, Thomson Locations: Buenos Aires, Argentina, London, U.S, Germany, Singapore

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Nov 24 (Reuters) - Signs the U.S. stock market rally is broadening from the so-called Magnificent Seven of mega-cap growth and technology companies is bolstering investor hopes for a rally through year-end. In one encouraging sign, about 55% of the S&P 500 were trading above their 200-day moving averages as of Monday. Among other signs, the equal-weight S&P 500 (.SPXEW) -- a proxy for the average stock in the index -- rose 3.24% last week. The equal-weight S&P 500 is trading at a 5% discount to its 10-year average forward price-to-earnings ratio, according to Edward Jones. Still, there are reasons to think that the market rally is not on the verge of a sustained broadening.

Persons: Brendan McDermid, Adam Turnquist, Meta, Russell, Mona Mahajan, Edward Jones, ” Mahajan, Steve Sosnick, Jason Draho, David Randall, Lewis Krauskopf, Saqib Iqbal Ahmed, Megan Davies, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Federal, LPL, Microsoft, Nasdaq, Interactive Brokers, UBS Global Wealth Management, Thomson Locations: New York City, U.S, Treasuries

☆ Hefty options 'disaster hedges' draw buyers as US stocks extend rally
▼ + stars: | 2023-11-17 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +2 min

A street sign for Wall Street hangs in front of the New York Stock Exchange May 8, 2013. Some 100,000 January call options on the Cboe Volatility Index (.VIX) changed hands on Friday, with a strike price of 27. Similarly large positions in January VIX options were opened on Wednesday and Thursday. The recent large trades, however, are more likely hedges on a portfolio of stocks, rather than wagers on a massive equity selloff, options strategists said. The trades are unusually large and make up about 5% of this month's overall trading volume in VIX options, according to Trade Alert data.

Persons: Lucas Jackson, Chris Murphy, Murphy, Matthew Tym, Cantor Fitzgerald, Tym, Saqib Iqbal Ahmed, Ira Iosebashvili Organizations: New York Stock Exchange, REUTERS, Susquehanna Financial Group, Federal, Thomson Locations: U.S

☆ China-linked ETFs draw bullish options bets ahead of Biden-Xi meet
▼ + stars: | 2023-11-15 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. Other large China-focused ETFs, including the iShares MSCI China ETF (MCHI.O), KraneShares CSI China Internet ETF (KWEB.P), also showed upbeat options activity, according to Trade Alert data. "It certainly seems that there is generally bullish positioning ahead of the meeting," said Steve Sosnick, chief strategist at Interactive Brokers, noting that the positions had been built up over several days. Reuters GraphicsInvestors' nascent enthusiasm for Chinese stocks is at odds with how these ETF's have performed this year. Daniel Kirsch, head of options at Piper Sandler, said recent bullish options flows into KWEB may be to do with a combination of enthusiasm ahead of the Biden-Xi meeting as well as results from Chinese e-commerce companies JD.com and Alibaba .

Persons: Brendan McDermid, Joe Biden's, Xi Jinping, Steve Sosnick, Biden, Xi, Sosnick, Daniel Kirsch, Piper Sandler, JD.com, Kirsch, Saqib Iqbal Ahmed, Suzanne McGee, Ira Iosebashvili, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, U.S, iShares, KraneShares CSI China Internet, Interactive, Federal, Economic Cooperation, Reuters Graphics Investors, Research, Biden, Thomson Locations: New York City, U.S, China, KraneShares, San Francisco, Asia

Burry also closed out bearish options against the broad S&P 500 and Nasdaq 100 Index, the filings showed. His Scion Asset Management’s biggest new position last quarter was in bearish options on an exchange-traded fund focused on semiconductors. He bought put options with a notional value of $47.4 million against the iShares Semiconductor ETF (SOXX.O), according to the filing. The filings also showed that Burry's fund no longer held puts on the Nasdaq 100 and S&P 500. Hedge fund Man Group also sold its 1.1 million shares in Nvidia, while Renaissance Technologies LLC sold its entire stake in the company.

Persons: Michael Burry, Burry, George Soros, Carolina Mandl, David Gregorio, Anna Driver, Deepa Babington Organizations: U.S, Nasdaq, iShares Semiconductor, Soros Fund Management, Society, Nvidia, Taiwan Semiconductor Manufactoring, Man, Renaissance Technologies, Tiger Global Management, Eisler Capital, Man Group, Duquesne Family Office, Thomson Locations: U.S, TSMC, New York

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