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Dow Gains as White House Reportedly Ready to Raise Stimulus Offer By Investing.com

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© Reuters.

By Yasin Ebrahim

Investing.com – The Dow climbed on Friday, as stimulus hopes were boosted on reports the White House raised its coronavirus stimulus offer to $1.8 trillion, though that is still short of the Democrat’s $2.2 trillion proposal.

President Donald Trump, however, has greater ambitions.

“I’d like to see a bigger stimulus package than either the Republicans or Democrats are offering,” Trump said on Rush Limbaugh radio show. “I’d like to see money going to people.”

The rose 0.49%, or 140 points. The was up 0.77%, while the gained 1.14%.

Treasury Secretary Steven Mnuchin is expected to discuss the new $1.8 trillion proposal with House Speaker Nancy Pelosi when the two speak Friday, The Wall Street Journal reported, citing sources.

Earlier on Friday, Senate Majority Leader Mitch McConnell said another fiscal package was unlikely in the next three weeks, while Trump hinted talks were progressing.

Reports the White House is raising its offer comes a day after Pelosi rejected the idea of passing standalone aid bills, preferring instead to roll out a broader relief package that would include support for individuals, small businesses and airlines.

Economists have repeatedly highlighted the importance of fiscal aid to keep the recovery intact.

Sectors tied to the progress of the economy advanced. Consumer discretionary was among the gains eBay (NASDAQ:) and Etsy (NASDAQ:) easing leading the upside.

Big tech continued to add to gains, led by a more than 2% rise in Microsoft (NASDAQ:) and Amazon.com (NASDAQ:). Apple (NASDAQ:) and Alphabet (NASDAQ:) rose 1%, while Facebook (NASDAQ:) fell into the red.

Tech was also pushed higher by a rise in chip stocks after strong gains in NXP Semiconductors NV (NASDAQ:) and Xilinx (NASDAQ:), with the latter rallying nearly 15% on reports that Advanced Micro Devices (NASDAQ:) was in advanced talks to buy the company.

NXP Semiconductors NV (NASDAQ:) was up 4% as it lifted quarterly guidance, citing a “material improvement” in demand across all end markets.

Energy proved an exception to the rally, down more 1%, as oil prices fell 1%, though are set to end the week sharply higher with weather-related supply disruptions easing demand concerns somewhat.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Hedge fund inflows at highest since 2018 in third quarter By Reuters

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© Reuters.

TORONTO (Reuters) – Hedge funds added $13 billion of assets between the start of July and end of September, the first time the industry has generated net inflows in any quarter since 2018, data from industry tracker Hedge Fund Research (HFR) showed.

Total assets managed by the hedge fund industry rose to $3.31 trillion at end-September, with macro strategies receiving $7.2 billion and trend-following strategies gaining $3.2 billion, the data showed.

The HFRI 500 Fund Weighted Composite Index gained 3.6% in the third quarter, bringing year-to-date performance to 0.8%. The S&P 500 would have made gains of 5.57% over the same period.

“Institutions globally are making forward-looking allocations to hedge funds, anticipating and positioning for the near-term uncertainties of both the virus and the U.S. election,” said Kenneth J. Heinz, President of HFR, said in the press release.

The hedge fund industry has come in for criticism for high fees and returns that have not matched those achieved by index trackers.

Hedge funds made 10.45% on average in 2019 compared to the S&P index tracker, which would have made 31.45% over the same period, the data showed.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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France stocks lower at close of trade; CAC 40 down 1.53% By Investing.com

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France stocks lower at close of trade; CAC 40 down 1.53%

Investing.com – France stocks were lower after the close on Wednesday, as losses in the , and sectors led shares lower.

At the close in Paris, the lost 1.53%, while the index declined 1.55%.

The best performers of the session on the were Vivendi SA (PA:), which rose 1.57% or 0.39 points to trade at 25.25 at the close. Meanwhile, Renault SA (PA:) added 0.81% or 0.20 points to end at 24.39 and Publicis Groupe SA (PA:) was up 0.51% or 0.16 points to 31.31 in late trade.

The worst performers of the session were WFD Unibail Rodamco NV (AS:), which fell 5.11% or 2.12 points to trade at 39.38 at the close. Airbus Group SE (PA:) declined 4.30% or 2.88 points to end at 64.06 and Compagnie de Saint Gobain SA (PA:) was down 3.77% or 1.38 points to 35.21.

The top performers on the SBF 120 were Virbac SA (PA:) which rose 2.29% to 223.50, Television Francaise 1 SA (PA:) which was up 1.95% to settle at 5.22 and Ingenico Group SA (PA:) which gained 1.85% to close at 135.05.

The worst performers were Mercialys SA (PA:) which was down 5.28% to 4.52 in late trade, WFD Unibail Rodamco NV (AS:) which lost 5.11% to settle at 39.38 and Sodexo SA (PA:) which was down 4.54% to 60.14 at the close.

Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 356 to 193 and 96 ended unchanged.

The , which measures the implied volatility of CAC 40 options, was up 5.61% to 29.23 a new 3-months high.

Gold Futures for December delivery was up 0.68% or 13.05 to $1928.45 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December fell 4.48% or 1.87 to hit $39.83 a barrel, while the December Brent oil contract fell 3.85% or 1.66 to trade at $41.50 a barrel.

EUR/USD was up 0.43% to 1.1872, while EUR/GBP fell 1.18% to 0.9022.

The US Dollar Index Futures was down 0.56% at 92.532.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Disney’s Bob Iger to join board of animal-free dairy maker Perfect Day By Reuters

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© Reuters. European premiere of “The Lion King” in London

(Reuters) – Walt Disney (NYSE:) Co Executive Chairman Bob Iger will share a board seat at animal-free diary maker Perfect Day along with co-founders Ryan Pandya and Perumal Gandhi, the company said on Wednesday.

“We’re focused on rapid commercialization in the U.S. and globally. But we know we can’t do it alone,” co-founder and Chief Executive Officer Pandya said on Iger’s appointment.

Plant-based or meatless foods have grown in popularity in recent years, with several major fast-food chains introducing such items across the globe, as diners become more conscious of how their food is sourced and its impact on the environment.

The Bay Area startup counts Singapore state investor Temasek Holdings and Hong Kong-based venture capital firm Horizons Ventures as lead investors. It has so far received $360 million in total funding.

Temasek will be represented on the board by Aftab Mathur and Patrick Zhang will represent Horizons.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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