51 minutes ago
JPMorgan traders expect the market to decline before rising again
Traders at JPMorgan see a 40% chance that the market will decline before resuming its bull run from this year. This is higher than the probability of 35%.
This remains Intel’s view of the US market. The question is whether the past week constitutes a pullback. I don’t think so, but that was also what I thought when I wrote Preparing for withdrawal “The reasons cited are (1) less rosy macro data; (2) continued tightening cycle; (3) earnings expectations; and (4) increasing lack of buyers,” traders said on June 20.
“With bottoming earnings expected to rise in the medium term and buyback willingness, points (1) and (2) would be the main similarities with the addition of positioning,” they said.
– Fred Imbert, Michael Blum
2 hours ago
The ruble fell to its lowest level in more than a year
The Russian ruble fell to its lowest level in nearly 17 months against the US dollar, as President Vladimir Putin’s economic adviser blamed easy monetary policy for the country’s currency depreciation.
“A weak ruble complicates the restructuring of the economy and negatively affects the real income of the population. In the interests of the Russian economy – a strong ruble,” said Maxim Oreshkin, Putin’s economic adviser, according to Google translation.
The ruble was last trading at 100.67, down 1.7% against the US dollar.
– Fred Imbert, Elliott Smith
4 hours ago
European stock markets open lower
European markets opened lower on Monday morning after a pessimistic series of sessions last week.
The pan-European Stoxx 600 Index is down 0.2% in the first minutes of trading, with sectors spread across negative and positive territory. Mining stocks led the losses, falling 1.1%, followed by oil and gas, which fell 0.9%. Food and Beverages led a moderate gain, with a gain of 0.3%.
– Hannah Ward Glinton
6 hours ago
The yen crossed 145 points against the dollar, raising expectations of Bank of Japan intervention
10 hours ago
Country Garden’s stock continued to drop after it halted internal bond trading
Shares of Chinese real estate company Country Garden Holdings continued to decline after it announced it would suspend trading in 11 domestic bonds. The stock hit a new all-time low after falling 10% at its open.
On file over the weekendCountry Garden said the suspension would take effect today, and that trading would resume “to be determined separately.”
“During the suspension period, the company will implement information disclosure obligations in strict accordance with the requirements of relevant laws and regulations, and will apply for corporate bond resumption in a timely manner after determining relevant matters,” it said.
11 hours ago
CNBC Pro: Alibaba Doubles Down on AI – Chinese Stocks to Watch
13 hours ago
Stock futures open slightly higher
Major market index futures opened slightly higher on Sunday evening.
S&P 500 and Nasdaq 100 futures rose about 0.2% each. Dow Jones Industrial Average futures added roughly 0.1%.
– Jesse Pound
13 hours ago
US Steel says it is reviewing strategic options
US Steel announced Sunday that it is reviewing strategic options after the company received unsolicited offers for deals, including a possible purchase of the entire company.
“The Board of Directors and management team at US Steel are committed to maximizing value for our shareholders, and to that end, we have initiated a thorough and comprehensive review of strategic alternatives,” said David Borrett, President and CEO of US Steel. press release.
The company said there was no deadline for the review. US Steel’s stock is down 9.3% since the start of the year.
– Jesse Pound
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