Stocks

Treasury yields decline; oil advances despite reserves

Bloomberg US Treasuries rise as traders tempered their expectations for monetary-policy tightening after New Zealand’s measured approach to rate hikes. Oil prices climbed as producers and major consuming nations headed for a confrontation. Signals from the stock market were mixed, with the European benchmark opening higher while US index futures fell modestly. Energy stocks were among the best performers in ...

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Bitcoin morphs back into risk asset as stock correlation climbs

Bloomberg Speculative stocks had a rough day, as did Bitcoin and other cryptocurrencies. To some market-watchers, that’s no coincidence. The 100-day correlation coefficient of Bitcoin and the S&P 500 stands at 0.33, among the highest readings of the year. That means that when stocks move up, Bitcoin is likely to do the same, and vice versa. (A coefficient of 1 ...

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Time to buy China stocks, trim India exposure: BlackRock

Bloomberg BlackRock Inc is trimming its investments in Indian equities and becoming more optimistic on China on attractive valuations amid expectations that policy hurdles will ease next year. “Valuations are the key right now,” Belinda Boa, head of active investments for Asia Pacific at the world’s biggest asset manager, said at a briefing. “Because of the outperformance we’ve seen in ...

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European stocks, futures drop as bets on dovish Fed pruned

Bloomberg US index futures and European stocks fall as investors weighed the prospects of a quicker withdrawal of monetary stimulus and the economic impact of renewed lockdowns. December contracts on the S&P 500 Index falls 0.4% after the underlying gauge posted a last-hour decline. A rout in technology shares that spurred those losses echoed in a 0.6% drop in Nasdaq ...

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Apple posts longest rally since July as tech broadly falls

Bloomberg Apple Inc shares closed at a record high, with the iPhone maker bucking broad-based weakness in the tech sector to rise for a seventh straight session. The stock rises as much as 3.2% but pared much of that advance in afternoon trading, ending with a gain of 0.3%. The company’s seven-day rally represents its longest streak of positive sessions ...

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US futures jump as China bets calm cautious mood

Bloomberg US equity futures rise as Chinese signals for possible easing measures outweighed concern over virus curbs in Europe. European stocks were boosted by deal activity. December contracts on the S&P 500 and Nasdaq 100 Index rise 0.3% each after a cautious week that saw the benchmark gauge underperform the technology measure. Telecom Italia SpA jumped as much as 30% ...

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JD.com, NetEase to get Hong Kong liquidity boost from MSCI shift

Bloomberg MSCI Inc’s decision to start tracking internet giants JD.com Inc and NetEase Inc. via their Hong Kong shares rather than American Depositary Receipts may reinforce a gradual shift in liquidity away from the US for Chinese stocks. The move comes amid heightened tension between the US and China over listing rules that is seeing some firms favour security at ...

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China bargain hunters trigger 388% increase in ETF assets

Bloomberg One exchange-traded fund (ETF) shows how investors are increasing bets on a rebound in Chinese property junk bonds. Surging inflows have lifted total assets of the iShares USD Asia High Yield Bond Index ETF to $1.87 billion from $383 million at the end of August, an increase of 388%. In October alone, the fund attracted a record $773 million. ...

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Travel-tied stocks slide as Covid-19 jitters spook traders

Bloomberg Investors are running away from companies that stand to benefit from a return to normalcy as Covid-19 cases mount in the US and the virus wreaks havoc in Europe. Cruise ship operators Carnival Corp, Royal Caribbean Cruises Ltd. and Norwegian Cruise Lines Holdings Ltd each closed down more than 2% as investors piled into less risky assets. The S&P ...

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Return to normal puts S&P 500 at 5,000 in June: Lovell

Bloomberg A less volatile year is ahead for markets, should a forecast by UBS Global Wealth Management’s Nadia Lovell play out. “Next year, we think financial markets will discover what normal looks like from a growth and an inflation standpoint,” the firm’s senior US equity strategist said in an interview on Bloomberg TV’s Surveillance. “In that environment, the S&P can ...

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