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☆ IG North America CEO: SPX held a 200-day moving average, this is a big point to build on
▼ + stars: | 2023-02-27 | 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 EmailIG North America CEO: SPX held a 200-day moving average, this is a big point to build onIG North America CEO JJ Kinahan joins 'Squawk Box' to discuss recent investments in the volatility index, if there's any evidence markets are still in an uptrend, and more.

☆ US watchdog to audit Buttigieg government jet use
▼ + stars: | 2023-02-27 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 27 (Reuters) - A U.S. government watchdog will audit Transportation Secretary Pete Buttigieg's use of government airplanes for some trips as part of a broad review dating back to 2017. The Transportation Department Office of Inspector General (OIG) will review 18 flights Buttigieg made on Federal Aviation Administration-operated (FAA) planes on seven total trips after a request by Republican Senator Marco Rubio. "Glad this will be reviewed independently so misleading narratives can be put to rest," Buttigieg wrote on Twitter. Elaine Chao served as Transportation secretary from 2017 through early 2021 under President Donald Trump. Rubio requested the review in December after Fox News reported on the flights and asked if any violations of Transportation Department policy were identified.

☆ Gold edges up as dollar weakens, rate-hike worries cap gains
▼ + stars: | 2023-02-24 | by ( ) www.cnbc.com time to read: +2 min

Gold prices rose on Friday as the dollar weakened, though investor worries that recent economic data could lead the U.S. Federal Reserve to keep raising interest rates capped gains. Separately, data showed fourth-quarter personal consumption expenditures (PCE) price index rose 3.7%, revised up from a previous estimate of 3.2%. Thursday's reports are the latest in a flurry of data that has fueled concerns that interest rates would stay higher for longer. The Fed's preferred inflation measure, the PCE data for January, is due at 1330 GMT and will be closely watched. "A lower-than-expected read could see some paring back of hawkish bets, which could prompt renewed upside in gold."

☆ Department of Transportation watchdog to investigate flight cancellations and delays
▼ + stars: | 2023-02-21 | by ( Ross Levitt | ) edition.cnn.com time to read: +1 min

CNN —The Department of Transportation’s internal watchdog said Tuesday it is launching a probe into the spike in flight cancellations and delays that have come in the wake of the pandemic. The Office of the Inspector General audit will focus on the federal agency’s role in these cancellations, rather than the airlines. The IG wants to find out both the causes of the delays and cancellations as well as the accuracy of the government’s data around flight disruptions. This will be first in a series of audits to understand and evaluate flight delays and cancellations as well as DOT’s actions to address them,” the memo stated. The IG also announced a separate audit of the FAA’s planned NextGen effort to upgrade the air traffic system, a multibillion-dollar infrastructure program.

☆ Maersk nears complete Russia exit after selling logistics sites
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

COPENHAGEN, Feb 20 (Reuters) - Shipping and logistics group A.P. Moller-Maersk (MAERSKb.CO) has agreed to sell its two logistics sites in Russia to IG Finance Development Limited, it said on Monday, nearly marking the end of its business activities in the country. "We are pleased to have found a new owner of our two logistics sites in Russia and thereby execute on our decision to divest all our assets in the country," Chief Commercial Officer Karsten Kildahl said in a statement. IG Finance Development, a company registered in Cyprus, has made an agreement with Arosa, a large food importer in Russia, to operate the sites, Maersk said. After that, Maersk will not have any business in Russia.

SummarySummary Companies Centrica, StanChart jump on upbeat earningsVodafone up on report exploring options for African UnitFTSE 100 up 0.2%, FTSE 250 flatFeb 16 (Reuters) - Britain's internationally-focussed FTSE 100 on Thursday closed above 8,000 points for the first time as upbeat earnings from Centrica and Standard Chartered countered global risk-off sentiment after hotter-than-expected U.S. inflation data. The blue-chip FTSE 100 (.FTSE) gained 0.2%, off an intra-day record high hit earlier in the day, but still at its highest ever closing level of 8,012.53 points. The exporter-heavy index has had a stellar start to the year, gaining 7.5% so far as positive corporate earnings and rising commodity prices supported the index. Data showed U.S. producer prices rose more than expected in January while jobless claims unexpectedly fell, fanning speculation the U.S. Federal Reserve would keep raising interest rates for longer than expected. Shares of Centrica (CNA.L) jumped to top the FTSE 100, adding 5.7%, after the British Gas owner's annual profit more than tripled and it announced an extension of its share buyback programme.

☆ Tesla reportedly laid off dozens of workers after union announcement, NLRB complaint alleges
▼ + stars: | 2023-02-16 | by ( Kate Duffy | Grace Kay | ) www.businessinsider.com time to read: +3 min

Tesla terminated dozens of employees at a site that had just announced a union campaign, an NLRB complaint alleges. Workers United claims Tesla is attempting to "discourage union activity," Bloomberg first reported. Spokespeople for Tesla and Workers United did not respond to a request for comment from Insider ahead of publication. In 2017, some Tesla workers sought to unionize with the help of the United Auto Workers Union (UAW), but the initiative was unsuccessful. More recently, the NLRB ruled in August that Tesla's policy that restricts workers from wearing a union insignia is "unlawful."

☆ Yields are popping again. Here's how investors can take advantage of that, according to the pros
▼ + stars: | 2023-02-14 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

How can investors ride on higher yields? Buy high-quality or short-term fixed income BlackRock Investment Institute said it likes high-quality credit and short-end government bonds "as interest rates stay higher for longer." "Fixed income finally offers 'income' after yields surged globally. "We believe that investors should hold around 2% of cash in their portfolios and should use short-term fixed income (anything below a 2-year maturity) as a proxy for cash," Alvarado added. Wells Fargo Investment Institute's tactical portfolios are allocating between 2% (for "aggressive growth investors") and 17% (for conservative income investors) to short-term fixed income.

☆ Gold subdued as investors brace for U.S. inflation data
▼ + stars: | 2023-02-13 | by ( ) www.cnbc.com time to read: +2 min

REUTERS/Alexander ManzyukGold prices edged lower on Monday on a firmer dollar as investors squared positions before U.S. inflation data that could influence the Federal Reserve's rate-hike roadmap. Spot gold was down 0.2% at $1,861.95 per ounce, as of 0302 GMT. Bullion is often seen as an inflation hedge, but the opportunity cost of holding it is higher when interest rates are raised to combat inflation. Data on Tuesday is likely to show the U.S. monthly consumer prices climbing 0.4% month-on-month in January, according to a Reuters survey of economists. The Labor Department's annual revisions of CPI data on Friday showed the consumer price index edged up 0.1% in December rather than dipping 0.1% as reported last month.

☆ Biden fires Trump-appointed Architect of the Capitol Brett Blanton after alleged misconduct, White House says
▼ + stars: | 2023-02-13 | by ( Nicole Gaudiano | ) www.businessinsider.com time to read: +3 min

President Joe Biden fired the Architect of the Capitol, the White House said Monday. "After doing our due diligence, Mr. Blanton's appointment as Architect of the Capitol was terminated at the President's direction," the official said in a statement. Blanton's dismissal follows a report from the Inspector General's office accusing Blanton of misusing a government vehicle and impersonating a police officer. In a February 13 letter to Blanton obtained by Punchbowl News, a White House official wrote that Blanton's appointment would be terminated by 5 p.m. at Biden's direction. The Architect of the Capitol is responsible for facilities, maintenance, and operation of the US Capitol, among other things.

☆ Asia stocks head for second weekly loss as Fed rate worries flare
▼ + stars: | 2023-02-10 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

TOKYO, Feb 10 (Reuters) - Asia-Pacific stocks fell on Friday, slumping toward a second weekly loss as investors fretted about the potential for further Federal Reserve tightening and the effect on the U.S. economy. MSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) sank 0.54% and was on course for a 1% weekly decline, after losing 1.16% in the previous week. "If rates go past that five, five-and-a-quarter percent range that the Fed has previously indicated, markets are definitely not priced for that - absolutely not." The 10-year yield edged down to around 3.67% after bumping around 3.96% mid-week, also the highest since Jan. 6. Brent crude futures fell 28 cents, or 0.3%, to $84.22 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 35 cents, or 0.5%, to $77.71.

☆ Asian stocks draw massive foreign inflows on softer dollar, growth optimism
▼ + stars: | 2023-02-09 | by ( Gaurav Dogra | ) www.reuters.com time to read: +2 min

They had sold $57.2 billion in regional equities last year. Taiwan and South Korea witnessed their biggest monthly purchases in at least two years, with net inflows amounting to about $6.6 billion and $5 billion, respectively. "That may account for the strong inflows in Taiwan and South Korea, which are more growth-exposed." Meanwhile, equity markets in Thailand, Vietnam and the Philippines also received $565 million, $178 million and $122 million worth of foreign money, respectively. Indian equities witnessed $3.52 billion worth of outflows due to higher valuations and the fallout from the slump in Adani Group stocks.

Analysts said the new cash may afford Bed Bath only a few quarters to revive its business, and a weakening economy would diminish any chance of a successful turnaround. Bed Bath declined to comment on Hudson Bay Capital's role in the share sale. "All is on hold," a maker of children's apparel said last week, adding that it had stopped shipping products to Bed Bath since early January. A shopping cart is seen at a Bed Bath & Beyond store in Manhattan, New York City, U.S., June 29, 2022. Reuters reported late last month that Bed Bath had lined up liquidators to close additional stores unless a last-minute buyer emerged.

Hudson Bay Capital is unrelated to Canadian department store chain Hudson's Bay Co. Bed Bath & Beyond declined to comment earlier Tuesday on Hudson Bay Capital leading investment in the share sale. A shopping cart is seen at a Bed Bath & Beyond store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew KellyPrices on Bed Bath & Beyond bonds due in 2024 climbed to 24 cents on the dollar from around 5 cents, a level still indicating financial distress. Bed Bath shares rose 2.7% in extended trading, after closing down 49% on Tuesday.

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☆ India's Adani still eligible to be part of influential JPMorgan bond indexes
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, Feb 7 (Reuters) - India's Adani group of companies, which in recent weeks has seen a brutal selloff in its bonds and shares after being targetted by a U.S. short-seller, is still eligible for inclusion in JPMorgan's influential bond indexes, the bank said in a note. Adani, whose business interest includes ports, power generation and transmission, and renewable energy, has a total notional value of $7.7 billion in the JPMorgan's CEMBI and JACI indexes, the bank said on Monday. JPMorgan Corporate Emerging Market Bond Index series (CEMBI) tracks dollar debt issued by emerging market corporations, while its Asia Credit Index (JACI) tracks the total return performance of the Asia fixed-rate dollar bond market. After the release of Hindenburg's report, Adani's weight has decreased by 10 basis points to 36 basis points in the CEMBI Broad Div index and by 15 basis points to 48 basis points in the CEMBI Broad Div IG index, the JPMorgan note said. The Indian conglomerate's weight decreased by 16 basis points to 52 basis points in the JACI index, it added.

☆ Gold firms as dollar inches lower; Powell's speech in focus
▼ + stars: | 2023-02-07 | by ( ) www.cnbc.com time to read: +2 min

Gold prices rose on Tuesday as the dollar pulled back slightly, with traders awaiting U.S. Federal Reserve Chair Jerome Powell's speech later in the day for hints about future rate hikes after last week's strong economic data. Gold prices had shot over the $1,900-an-ounce threshold in January on hopes of slower Fed rate hikes, but prices have since retreated. Market participants will be keenly watching Powell's speech to see if he turns hawkish after last week's stunning jobs data. Gold is sensitive to high interest rates, which lift the opportunity cost of holding the non-yielding asset. Spot silver rose 0.3% to $22.33 per ounce, platinum XPT= eased 0.1% to $970.94 and palladium edged 0.1% lower to $1,596.74.

☆ Gold steadies after steep sell-off, but bound for weekly drop
▼ + stars: | 2023-02-03 | by ( ) www.cnbc.com time to read: +2 min

Gold bullion bars are pictured after being inspected and polished at the ABC Refinery in Sydney on August 5, 2020. Gold prices steadied on Friday after a sharp sell-off in the previous session, as traders digested rate-hike remarks from global central banks, but the metal was set for its first weekly drop in seven amid a strong dollar. Therefore, it may trigger some near-term profit-taking, "but for gold prices, a greater conviction for sellers could be a break below the $1,895 level, where dip-buyers were seen stepping in this week just before the meeting," the analyst added. Gold prices have gained about $300 since November on expectations of softer rate hikes from the U.S. central bank, as a lower interest rate environment reduces the opportunity cost of holding non-yielding bullion. The U.S. dollar, meanwhile, was up 0.1%, keeping a leash on gold prices.

☆ IG North America CEO: There will be an upset in the market if rates stay at 25 bps for longer
▼ + stars: | 2023-02-01 | 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 EmailIG North America CEO: There will be an upset in the market if rates stay at 25 bps for longerIG North America CEO JJ Kinahan joins 'Squawk Box' to discuss whether this equity rally is a head-fake, if the Federal Reserve will 'win' this round, and more.

☆ Dollar set for fourth monthly drop as Fed meeting looms
▼ + stars: | 2023-01-31 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, Jan 31 (Reuters) - The dollar was eyeing a fourth monthly loss on Tuesday as investors reckon a peak in U.S. interest rates could swing into view as soon as this week's Federal Reserve meeting. The U.S. dollar index is down 1.3% for January so far, though it rose 0.3% to 102.19 overnight. The Japanese yen fell 0.4% overnight but is set for its third monthly gain as markets anticipate shifts in monetary policy. Sterling and the Australian, New Zealand and Canadian dollars also made overnight losses but are set for monthly gains. Interest-rate futures indicate market expectations for a 25 basis point (bp) hike from the Federal Reserve to take the Fed funds rate window to 4.5%-4.75%.

☆ Barclays names 6 'cheap, under-owned' UK stocks to buy, saying 2 offer more than 50% upside
▼ + stars: | 2023-01-30 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Barclays Capital has named six London-listed stocks to buy as it believes the U.K. stock market is currently "cheap" and "under-owned." Two of the investment bank's picks — Drax Group and IG Holdings — are also predicted to rise by more than 50% in the next 12 months, thanks to several policy tailwinds. Drax Group Drax, which runs one of the last remaining biomass and coal-fueled power stations in the U.K., is one of Barclays' preferred stocks. IG Group Shares of stockbroker IG Group could rise by 55% over the next year to £12 a share, Barclays analysts have said. The investment bank believes a high-interest rate environment allows the stockbroker to earn interest on a customer's deposit, further increasing its profit margins.

☆ Liechtenstein votes resoundingly against banning casinos
▼ + stars: | 2023-01-29 | by ( ) www.reuters.com time to read: +1 min

ZURICH, Jan 29 (Reuters) - Voters in Liechtenstein on Sunday roundly rejected a proposed ban on casinos in a referendum that has polarized the tiny principality and its 40,000 citizens. With six casinos dotted across the country that is a tenth of the size of London, the microstate has been dubbed the "Las Vegas of the Alps" among punters. They argue that the fledgling industry risks tarnishing a national image that the state has worked hard to repair. The country was on an international blacklist of tax havens until it began easing bank secrecy laws more than a decade ago. Reporting by Noele Illien Additional reporting by Francois Murphy in Vienna; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ German labour representative says Ford execs have offered talks on restructuring plan
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +1 min

Ford said on Jan. 20 that its planned shift to electric vehicle (EV) production will require unspecified structural changes, giving rise to fears of job cuts at its German production sites. Ford committed to an all-electric lineup in Europe by 2030 and its U.S. leadership has repeatedly flagged that EVs require less labour. German union officials said on Wednesday that Ford would decide by mid-February how many jobs to cut in Europe. "Ford management has indicated their willingness to talk," Benjamin Gruschka, who is affiliated with trade union IG Metall, told a media briefing in Cologne. He said no date for talks had been agreed and that Ford had yet to give details on what their restructuring plan entails.

☆ Gold slips as dollar firms ahead of U.S. inflation data
▼ + stars: | 2023-01-27 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was down 0.3% at $1,923.33 per ounce, as of 0648 GMT, shedding 0.2% so far in the week. Gold is seeing a pull-back as the dollar is on the higher side and the U.S. GDP data is also slightly pressuring prices, said Ajay Kedia, director at Kedia Commodities, Mumbai. Data on Thursday showed the U.S. economy grew at a faster pace in the December quarter than economists had expected, prompting bets the Fed would keep rates higher for longer. Investors are now awaiting U.S. personal consumption expenditures (PCE) data, the Fed's preferred inflation measure, at 1330 GMT for cues on the central bank's path forward. A downside surprise in the data may point towards a less-hawkish Fed, which could drive gold prices higher in the longer run, said IG Market strategist Yeap Jun Rong.

☆ Gold little changed ahead of U.S. inflation data
▼ + stars: | 2023-01-27 | by ( ) www.cnbc.com time to read: +1 min

Gold prices were little changed on Friday as traders awaited U.S. inflation data, due later in the day, to gauge the Federal Reserve's stance on further interest rate hikes. Spot gold was flat at $1,927.99 per ounce as of 0234 GMT, while U.S. gold futures were off 0.1% at $1,928.30. Investors are now awaiting U.S. personal consumption expenditures (PCE) data, the Fed's preferred inflation measure, at 1330 GMT for cues on the central bank's path forward. The GDP data points to a resilient U.S. economy but there were some signs of challenges to the economy, which kindled some hopes of a less aggressive Fed, Yeap said. Lower interest rates tend to be beneficial for bullion as it lowers the opportunity cost of holding the non-yielding asset.

☆ IG Group extends share buyback by 50 mln pounds
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: 1 min

Jan 26 (Reuters) - Online trading platform IG Group (IGG.L) said on Thursday it was extending its share buyback by 50 million pounds ($61.98 million) to 200 million pounds and that it expected its full-year performance to be in line with expectations. The group said profit before tax for the six months ended Nov. 30 dipped 2% to 240.5 million pounds, weighed down by softer client activity as market volatility spurred in part by the Ukraine crisis eased. ($1 = 0.8068 pounds)Reporting by Sinchita Mitra in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.

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