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☆ Siemens earnings beat estimates on strong demand for electrification, software
▼ + stars: | 2024-08-08 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

15 November 2023, Bavaria, Munich: Flags with the word "Siemens" in front of the company's headquarters. Comparable orders meanwhile declined 15% from the same quarter a year ago, hitting 19.8 billion, Siemens said. Siemens CEO Roland Busch told CNBC on Thursday that the company's performance during the quarter was "very, very strong." The company attributed its growth in the third quarter to strong demand in its electrification and industrial software businesses, but noted the automation business remained "challenging." There was an "exceptionally high order growth in the software business driven by a number of large contract wins for licensed software," the company said, with profitability growth more than offsetting a profit decline in automation.

Persons: Karl, Josef Hildenbrand, Roland Busch Organizations: Siemens, Getty Images, CNBC, Smart Infrastructure Locations: Bavaria, Munich, London

☆ Nikkei 225: Japan stock market rally fades as fears of US economic slowdown, yen volatility return
▼ + stars: | 2024-08-08 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Meanwhile, the yen strengthened 0.6% to 146 against the US dollar, after losing nearly 2% on Tuesday and Wednesday combined. But those fears, as well as a further jump in the value of the yen, are still haunting the market. The volatility in the yen, which was at the heart of recent market turmoil, remains elevated, he added. On Monday, the Nikkei plummeted by the most since 1987, sparking a broader global market sell-off. The narrowing of the interest rate differentials, which had enabled the yen carry trade, could push the yen higher, Kuptiskevich added.

Persons: Hong Kong CNN —, Germany’s DAX, Shinichi Uchida, Uchida, ”, Stephen Innes, Alex Kuptsikevich, Masamichi Adachi, Innes, Taiwan’s Taiex, Hang Organizations: Hong Kong CNN, Nikkei, CAC, Nasdaq, Bank of Japan, Federal Reserve, FxPro, Federal, Fed, UBS, UBS Chief Investment, Kospi, Hang Seng Locations: Hong Kong, Europe, Japan, unwind

☆ Nikkei 225: Asian markets make solid gains following global rout
▼ + stars: | 2024-08-07 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Asian markets made solid gains Wednesday, with Japanese shares reversing early losses after a central bank official played down the prospect of an immediate hike in interest rates. The gains follow days of volatility, which saw the Nikkei suffering Monday its biggest daily loss since 1987. “We won’t raise interest rates when financial markets are unstable,” he was quoted as saying in a speech to executives in the northern Japanese city of Hakodate. The central bank has hiked interest rates twice this year in a bid to contain inflation. Decades of extremely low interest rates in Japan had seen many investors borrow cash cheaply there before converting it to other currencies to invest in higher-yielding assets.

Persons: Shinichi Uchida, Kospi, Hong, Taiex, Uchida, ”, Olesya Organizations: Hong Kong CNN, Nikkei, Bank of Japan, US, Dow, Nasdaq Locations: Hong Kong, Asia, South, Hakodate, “, Japan, Europe, London

☆ European stocks set to rally at the open, shaking off global market panic
▼ + stars: | 2024-08-06 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

LONDON — European stocks are expected to open higher Tuesday, with global markets looking set to rally after widespread volatility on Monday. On Tuesday, the U.K.'s FTSE index is expected to open 53 points higher at 8,049, Germany's DAX up 122 points at 17,436, France's CAC 40 up 48 points at 7,180 and Italy's FTSE MIB 170 points higher at 31,615, according to data from IG. European stocks fell sharply Monday, with the regional Stoxx 600 index plunging 3.5% and tech and bank stocks declining sharply.

Persons: Germany's DAX Organizations: CAC, IG

The trip highlights the generational gap between Harris and President Joe Biden and former President Donald Trump, Democratic allies said. Noah Lyles wins gold in epic photo finishDimitar Dilkoff / AFP - Getty ImagesLyles earned his first gold medal in 9.79 seconds, which was a personal best. Lyles was still unconvinced he had won the gold medal after finishing and the scoreboard offered no indication of who had won gold, silver or bronze as officials processed a photo finish. Track and field holds four medal events and surfing will finally have its medal day. ▶️ Watch top highlightsDebby makes landfall in Florida as a Category 1 hurricaneHurricane Debby has made landfall in Florida’s Big Bend as a Category 1 hurricane.

Persons: Kamala Harris, Hurricane, Noah Lyles, Harris, John Bazemore, Harris ’, Andy Beshear, Pete Buttigieg, Sen, Mark Kelly of, JB Pritzker, Josh Shapiro, Tim Walz, Joe Biden, Donald Trump, Biden, Trump, “, Nikki Haley, Dimitar Dilkoff, Lyles, Jamaica’s Kishane Thompson, Fred Kerley, Thompson, ” Lyles, Kerley, Peacock, Read, ste, Caro, Ron, Flor, rais e d fear, ron e, Rob e, Ari z, ena, go to a, ake is b, ✦, lea, ree Organizations: Kentucky, Mark Kelly of Arizona ,, Mark Kelly of Arizona , Illinois Gov, Minnesota Gov, Democratic, Trump, Republicans, Getty, Olympic, ust, NBC, POLI Locations: Florida, Mark Kelly of Arizona, Mark Kelly of Arizona , Illinois, Pennsylvania, Philadelphia, AFP, bou, spee, sto

☆ U.S. recession fears spark selloff in international markets
▼ + stars: | 2024-08-05 | by ( David Hodari | David Hodari Is A London-Based Editor. | ) www.nbcnews.com time to read: +2 min

LONDON — U.S. stocks are on course to open in the red Monday, with Japanese stocks suffering their worst day of trading since the 1980s and a global equities sell-off intensifying over fears of a U.S. economic slowdown. The Nikkei’s 12.4% fall marked the worst day for the Japanese index since 1987’s “Black Monday” — the sudden and unexpected stock market crash that raised fears of a depression. Noriko Hayashi / Bloomberg via Getty ImagesIn recent weeks, rising concerns around a potential U.S. recession have spooked investors. A rise in the value of the Japanese yen against the U.S. dollar — making Japanese assets more expensive for holders of other currencies — has also likely played a role in the selling. Even so, some investors put their money into U.S. Treasury bonds — so-called ‘haven’ assets that act as stores of wealth in volatile moments.

Persons: Noriko Hayashi, Japan’s, Shunichi Suzuki, “, ” Suzuki, ” Organizations: LONDON, Dow Jones, Nasdaq, Tokyo Stock Exchange, Bloomberg, Getty, Federal Reserve, Labor, U.S ., Treasury Locations: U.S, Europe

Hong Kong/London CNN —Japanese shares soared Tuesday, clawing back some of their record losses from the previous day and underpinning a tentative recovery on global markets. Markets around the world plunged during Monday’s session when a combination of fears about a slowing US economy, rising Japanese interest rates and crumbling tech stocks combined to trigger a meltdown. The bounce in Japan is “typical after a market crash,” Neil Newman, head of strategy at Astris Advisory in Tokyo, told CNN. “It is too early to conclude that the Japanese stock market has hit a bottom,” they said, adding that any recovery would likely only occur after Japanese companies report first-half earnings in October, or even after the US presidential election in November. A stronger yenJapan’s stock market, in particular, was hard-hit by the rapid appreciation of the yen, which undermines the export competitiveness of the country’s manufacturers.

Persons: clawing, Kospi, ” Neil Newman, ”, “, Stephen Innes, ” Newman, Newman, Fumio Kishida Organizations: London CNN, Nikkei, Nasdaq, Advisory, CNN, UBS Chief Investment, Moody’s, Bank of Japan, Management, Tokyo “, Traders, Reuters Locations: Hong Kong, London, Asia, South, Taiwan, Europe, Japan, Tokyo, South Korea

☆ Global stock markets are sliding as Japan suffers biggest fall since 1987
▼ + stars: | 2024-08-05 | by ( Huileng Tan | Polly Thompson | ) www.businessinsider.com time to read: +5 min

Read previewJapan's main stock market index suffered its biggest fall since 1987, closing 12.4% lower on Monday, while markets in Asia and Europe also fell sharply. US stock markets sunk at the end of last week as investors digested a streak of negative economic data and disappointing earnings from Big Tech companies. The Chinese stock markets were already under pressure this year due to the country's economic troubles. Japan kept interest rates ultra-low for decades following the implosion of an asset bubble in the 1990s that contributed to persistent deflation. AdvertisementThe BoJ's rate hike has also fanned further risk-off sentiment in global stock markets.

Persons: —, Tony Sycamore, Taiwan's Taiex, Paris, it's, Sycamore, Vishnu Varathan, Mizuho Bank's Organizations: Service, Nikkei, Business, Big Tech, Nasdaq, IG Australia, Bloomberg TV, Kospi, CSI, Federal Reserve, Bloomberg, Bank of Japan, ING Locations: Asia, Europe, Frankfurt, London, Japan

Signs of a slowing U.S. economy sowed panic among investors on Monday, with a sell-off in markets that began last week turning into a global rout. The moves were a sharp reversal in major stock markets, which for much of the past year have risen to new heights, propelled by optimism about cooling inflation, solid labor markets and the promise of artificial intelligence technology. South Korea’s benchmark Kospi index fell more than 10 percent at one point. Japanese stocks have been on a tear for more than a year, fueled by a weak Japanese yen. Adding to the pressure, foreign investors have started selling off positions in Japanese stocks over the last few weeks.

Persons: ”, Andrew Brenner, Goldman Sachs, Goldman, Jordi Basco Carrera, ’, Basco Carrera, Jitters, Jesper Koll, Koll, John Liu, Melissa Eddy Organizations: Federal, Nasdaq, National Alliance Securities, Equity, Technology, Samsung Electronics, Taiwan Semiconductor Manufacturing Company, Nvidia, Intel, Allianz, Monex, Bank of Japan, Tokyo Stock Exchange Locations: Asia, Europe, Americas, Japan, U.S, Taiwan, Singapore, Australia, Hong Kong, China, Stocks, India, Netherlands, Switzerland, New York, Munich, “, New, Seoul, Berlin

(This is CNBC Pro's live coverage of Monday's Wall Street chatter as global markets sell off. — Lisa Kailai Han 7:02 a.m.: How long sell-offs typically last Bad news: The current market sell-off may have further to go. — Lisa Kailai Han 6:09 a.m.: Oppenheimer's Stoltzfus: Best to not 'jump to conclusions' Investors need to have a cool head as global markets sell off, according to Oppenheimer's John Stoltzfus. — Fred Imbert 5:51 a.m.: Global markets in an 'aggressive risk-unwind', Vital Knowledge says Fears of a U.S. recession are pressuring global markets, leading investors around the world to sell some of this year's top winners, according to Adam Crisafulli of Vital Knowledge. "Markets are caught in an aggressive risk-unwind as equities plunge around the world, with tech getting hit particularly hard," he wrote in a note Monday.

Persons: Wharton's Siegel, Jeremy Siegel, CNBC's, Siegel, hasn't, it's, … They're, —, Lisa Kailai Han, Tom Lee, Lee, Duncan Toms, Toms, Fred Imbert, Victoria Greene, Greene, It's, Nimrit Kang, — Lisa Kailai Han, Dan Ives, Gene Goldman, Gennadiy Goldberg, Ives, Goldman, Goldberg, Oppenheimer's John Stoltzfus, Evercore, Ed Hyman, Hyman, Adam Crisafulli, Crisafulli Organizations: CNBC, Stock, Nikkei, Dow Jones Industrial, Nasdaq, Wharton, Federal Reserve, Fundstrat Global, HSBC, G Squared, Wealth, NorthStar Asset Management, Street, Wedbush, TD Securities, Federal, NASDAQ, U.S, Fed, Global Locations: U.S, Europe, Japan, China

Hong Kong/London CNN —Japanese stocks on Monday suffered their biggest daily loss since 1987 as fears about a US economic slowdown sent shock waves through global markets. The Nikkei 225 index of leading stocks in Tokyo lost a staggering 4,451 points, its biggest point drop in history. On the more common, percentage measure, the index closed more than 12% down — according to Reuters, its largest one-day fall since October 1987. He was referring to “Black Monday” in October 1987, when global markets plunged and the Nikkei lost 3,836 points. The Nikkei closed down 5.8% Friday, as traders fretted about the impact of a stronger yen on Japanese companies.

Persons: ” Neil Newman, ”, Stephen Innes, Newman, Mohit Kumar, Taiwan’s Taiex, Kospi, Innes, Tom Kloza, Bitcoin Organizations: London CNN, Reuters, Advisory, CNN, Nikkei, Federal Reserve, Bank of Japan, Management, Trading, Nasdaq, Dow, Jefferies, Traders, greenback, PMI, Intel, Brent, Oil Price Information Service Locations: Hong Kong, London, Tokyo, Japan, South Korea, “, Asia, Europe, South, Shanghai, China, United States

☆ European stocks to extend declines after Bank of England rate cut as global sentiment sours
▼ + stars: | 2024-08-02 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Boris Roessler | Picture Alliance | Getty ImagesLONDON — European stocks were set to open lower Friday, extending losses amid a global downturn as a busy week of market action draws to a close. Germany's DAX was on course to open 104 points lower at 17,984, according to IG data, with France's CAC 40 down 40 points at 7,325. The regional Stoxx 600 index on Thursday suffered its worst session since mid-June, pulled down by financials as French bank Societe Generale downgraded its outlook and the Bank of England cut interest rates for the first time since 2020. The central bank decision took its key interest rate to 5% from 5.25%, in a move that markets had not been fully convinced it would carry out. Asia-Pacific markets saw steep losses Friday, with Japan's benchmark indexes tanking as much as 5%.

Persons: Boris Roessler, Germany's DAX, BOE Governor Andrew Bailey, BOE, Joe Tuckey Organizations: Getty, France's CAC, Societe Generale, Bank of England, CNBC, Argentex, U.S . Federal Reserve, Bank of, Apple, Intel, U.S . Bureau of Labor Statistics Locations: Frankfurt, Bank of Japan, Europe, Asia, Pacific

☆ The market sell-off spills over into a global one
▼ + stars: | 2024-08-02 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Thursday's sell-off spilled over to international markets in a big way. .N225 5D mountain Nikkei sells off The Nikkei 225 , Japan's stock market benchmark, plunged 5.8% — marking its biggest one-day loss since March 2020. The common thread behind these declines seems to be concern that a U.S. economic slowdown would hurt global growth. Elsewhere on Wall Street this morning, Wells Fargo downgraded Morgan Stanley to underweight from equal weight, citing worries around the stock's valuation. "Further, MS doesn't seem to benefit as much from a capital markets recovery as GS, but trades at a significant valuation premium."

Persons: Thursday's, Taiwan's Taiex, Dax, That's, Adam Crisafulli, Jerome Powell, Wells, Morgan Stanley, Mike Mayo Organizations: Dow Jones Industrial, Nikkei, CAC, Intel, Dow Jones, Dow, Federal Locations: U.S, Asia, Europe, That's, Thurs

☆ European markets set to start the new trading week higher as earnings season continues
▼ + stars: | 2024-07-29 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — European markets were poised to open higher Monday as investors digest U.S. inflation data and look ahead to another busy week of earnings and central bank meetings. The pan-European Stoxx 600 closed higher on Friday as a global stock selloff eased and investors reacted to a U.S. personal consumption expenditures price print that came in in line with expectations. The slew of earnings releases continues this week, with Heineken, Philips, Pearson and Associated British Foods all reporting during the session. Asia-Pacific markets climbed on Monday, with Japan's Nikkei 225 leading gains in the region as the U.S. inflation print raised hopes for a rate cut. U.S. stock futures, meanwhile, were also higher ahead of a continued slew of corporate earnings stateside.

Organizations: Heineken, Philips, Pearson, British Foods, Federal Reserve, Bank of England, Japan's Nikkei Locations: Asia, Pacific

☆ European stocks head for mixed open as selloff eases; U.S. inflation data due
▼ + stars: | 2024-07-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange as a picture of Vice President Kamala Harris is displayed on a television screen, on July 22, 2024. Overall, Stoxx losses have eased from last week, when the regional index recorded its worst performance since October. LONDON — European markets are heading for a mixed open Friday, as a global stock selloff eases and investors await U.S. inflation. The biggest item on the data front Friday is the U.S. personal consumption expenditures price index, due at 8:30 a.m. Asia-Pacific markets largely rebounded Friday, as Tokyo's headline inflation slowed slightly to 2.2% in July from 2.3% in May.

Persons: Kamala Harris, Wall, Dow Jones, Mercedes, Stellantis Organizations: New York Stock Exchange, LONDON, Mercedes Benz Locations: U.S, Asia, Pacific, .

☆ Europe stocks set to open lower amid global downturn; earning season ramps up
▼ + stars: | 2024-07-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The Unilever headquarter building seen by the Nieuwe Maas river in Rotterdam. LONDON — European markets are heading for a lower open Thursday, with a flurry of corporate earnings and a selloff on Wall Street in focus. The U.K.'s FTSE 100 was last seen opening 19 points lower at 8,132 points, according to IG data, with Germany's DAX and France's CAC 40 down by 80 points and 45 points, respectively. The pan-European Stoxx 600 index closed 0.6% lower on Wednesday as second-quarter earnings season ramped up. Data will be released on German consumer confidence and euro zone and U.K. business activity, ahead of next week's euro zone gross domestic product second-quarter print.

Persons: Germany's DAX, carmakers Stellantis, Roche Organizations: Unilever, LONDON, CAC, MIB, Nestle, carmakers, Renault, Nasdaq, Deutsche Bank, Nikkei, U.S, Reuters, Bank of Locations: Rotterdam, Swiss, U.S, Asia, Pacific, Bank of Japan

☆ Global markets rise after Biden exit
▼ + stars: | 2024-07-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —Global markets made solid gains after President Joe Biden dropped out of the 2024 presidential election Sunday and endorsed Vice President Kamala Harris as the Democratic nominee. European markets were higher, and Asian markets closed mostly lower. But “the fact that Biden endorsed Kamala Harris reduces uncertainty,” said Jay Hatfield, CEO at Infrastructure Capital Advisors. “Markets are increasingly focused on the US presidential election in November,” wrote Deutsche Bank’s Henry Allen in a research note on Monday. Stocks tumbled toward the end of last week as a turbulent election cycle and a global tech outage rocked technology stocks in particular.

Persons: Joe Biden, Kamala Harris, Donald Trump, unwind, Harris, Biden, ”, Jay Hatfield, Trump, ” Hatfield, Deutsche Bank’s Henry Allen, Lyndon Johnson, Stocks Organizations: New, New York CNN — Global, Democratic, Dow, Nasdaq, Trump, Infrastructure Capital Advisors, Deutsche Bank, “, Deutsche Locations: New York

☆ European markets open lower as investors digest ECB decision
▼ + stars: | 2024-07-19 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

LONDON — European markets opened lower on Friday as investors considered the latest ECB interest rate decision. All sectors were lower, with travel and leisure stocks tumbling 2.66%, and mining stocks declining 1.93%. European markets have retreated throughout the week with the Stoxx 600 closing lower for the last four consecutive days. The picture was similar across the world, with Asia-Pacific markets declining on Friday as they followed Wall Street lower. U.S. markets closed lower on Thursday, with the Dow Jones Industrial Average snapping a six-day winning streak.

Organizations: Bank of England, LONDON, Dow Jones, European Central Bank, ECB Locations: City of London, London, United Kingdom, Asia, Pacific, U.S

☆ This strategist is finding value outside of the U.S. — here's where
▼ + stars: | 2024-07-18 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Investors looking for stock investments on the cheap should look abroad, according to Schroders investment strategist Bob Armstrong. Europe's Stoxx 600 index and the Japanese Nikkei 225 hit record highs earlier this year, along with the S & P 500 . FactSet data shows the former trades at 15 times trailing 12-month earnings, while the latter has a multiple of 23. The S & P 500, meanwhile sports a 27 times earnings multiple. Year to date, the Nikkei is up nearly 20%, outpacing the S & P 500's 17% jump.

Persons: Bob Armstrong, Europe's, Armstrong, Armstrong didn't Organizations: Nikkei, CNBC, Tokyo, European Central Bank and Bank of England, Franklin FTSE United Kingdom ETF Locations: U.S, Europe, Armstrong, Russia, Ukraine, Japan

☆ European markets set to open higher ahead of ECB rate decision
▼ + stars: | 2024-07-18 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The U.K.'s FTSE 100 was last seen up 40 points at 8,231, Germany's DAX 15 points higher at 18,464 and France's CAC up 7 points at 7,590. LONDON — European markets were headed for a higher open on Thursday as investors awaited the European Central Bank's interest rate decision. Asia-Pacific markets tumbled on the news from the chip sector overnight, with Japan's Nikkei 225 declining more than 2%. Back in Europe, the European Central Bank is expected to announce its latest interest rate decision Thursday. Markets are widely expecting the central bank to leave rates unchanged, but investors are hoping for guidance on the path ahead for monetary policy.

Persons: Boris Roessler, Germany's DAX Organizations: Getty, CAC, MIB, LONDON, Tech, Japan's Nikkei, Nasdaq, European Central Bank, Novartis, Volvo, Ubisoft, Nokia Locations: Hesse, Frankfurt, U.S, Asia, Pacific, Europe

Stock price information reflected on a window at the Euronext NV stock exchange in Paris, France, on Monday, March 13, 2023. LONDON — European stocks closed lower Wednesday, continuing negative sentiment seen in the previous two trading sessions as technology stocks plummeted. The regional Stoxx 600 index provisionally closed 0.43% lower, with most major bourses in the region falling and sectors trading mixed. European tech stocks plunged 4.4%, mirroring a sell-off seen across the Atlantic, where the Nasdaq Composite retreated 2% in early deals. U.S. stocks were broadly lower as investors continued to rotate out of megacap tech stocks into the broader market.

Organizations: LONDON, Nasdaq Locations: Paris, France, U.S

☆ What a hung parliament in France could mean for markets
▼ + stars: | 2024-07-07 | by ( Matt Clinch | ) www.cnbc.com time to read: +4 min

Emmanuel Dunand | Afp | Getty ImagesInitial indications on Sunday evening for the French parliamentary run-off vote threw up some big surprises, leaving political commentators contemplating a "hung parliament" scenario that could prove challenging for both policymaking and financial markets. With none of the groups expected to hit the 289 seats needed for an absolute majority, gridlock could ensue over the coming weeks. The euro slipped about 0.3% against the U.S. dollar in thin trading on Sunday evening after the exit polls were released. "Regardless, uncertainty about the outlook for French policymaking is likely to be long-lasting," the analysts said. France is facing a challenging fiscal position, and the European Commission announced two weeks ago that it intended to place France under an Excessive Deficit Procedure due to its failure to keep its budget deficit within 3 percent of gross domestic product.

Persons: Emmanuel Dunand, France's, Emmanuel Macron's, policymaking, Jack Allen, Reynolds, Macron, David Roche Organizations: la Republique, Afp, Getty, Popular Front, Rassemblement National, U.S, Citi, Daiwa, European Commission, Capital Economics, Independent, National Rally Locations: France, la, Paris, Italy, Germany

☆ European markets open higher with UK election results in focus
▼ + stars: | 2024-07-05 | by ( Ryan Browne | ) www.cnbc.com time to read: 1 min

Keir Starmer, leader of the Labour Party, campaigns ahead of the general election, in Redditch, UK, on Wednesday, July 3, 2024. LONDON — European stocks opened mostly higher on Friday as the U.K.'s general election draws focus in the region. The pan-European Stoxx 600 index rose 0.3% higher in early morning deals. The U.K.'s FTSE 100 index climbed more than 0.2% as investors reacted to election results. Travel and leisure stocks were the standout gainers Friday, climbing 0.6%, as most sectors traded in positive territory.

Persons: Keir Starmer Organizations: Labour Party, LONDON Locations: Redditch, UK

LONDON — European stocks closed higher Wednesday, as sentiment remains on edge ahead of two major elections. The index provisionally closed 0.8% higher, with most sectors in the green led by mining stocks, up 2.3%. Maersk shares ticked 3.8% higher after the shipping giant withdrew from sales talks with logistics firm DB Schenker. It comes as figures showed softening in the U.S. labor market. ADP data showed less private payroll growth than expected in June, while weekly jobless claims numbers came in higher than forecast.

Persons: Vincent Clerc, Jerome Powell Organizations: Maersk, DB Schenker, Labour Party, Reuters, U.S, Federal Locations: France, Asia, Pacific, U.S

☆ An inside look at the workings of the 4-part arbitrage and momentum quant strategy driving an award-winning fund that's beaten 99% of its peers
▼ + stars: | 2024-06-29 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

For the ATRFX fund, this means betting on currencies, equities, commodities, and bonds, but not in a direct way. Instead, it employs everything from arbitrage strategies, riding out momentum and interest rates, or sitting on the sidelines when it's choppy. Over the last couple of years, higher interest rates have brought in some good yields. Related storiesOne step further is to arbitrage interest rates across currencies. Investors can do this by identifying national currencies with low interest rates, borrowing in that currency, and then lending in the currencies with higher interest rates.

Persons: David Miller, ATRFX, Miller, It's, that's, Yen, it's Organizations: Service, Systematic Alpha Fund, Business, Catalyst Capital Advisors, BNP Paribas, BNP, Commodities Commodities, Bloomberg, Federal Reserve

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