A senior strategist from Federated Investors recently explained why the summer months for equities may not have been very sunny and has some clues ready.
Philip Orlando, chief equity strategist and senior vice president of asset manager Federated Investors , points to a “cruel” summer for equities as part of an interview in “CNBC’s Future Now” program .
That’s why it will not be a nice summer for the stock market
Philip Orlando echoed “CNBC” that the stock market is currently in transition to a clear case: “We expect an air hole here that will bring the market in the summer months, for example, on the sliding 200-day line,” so Orlando.
The Dow Jones is currently on a six-day dry spell, and the S & P 500 also has four negative trading days in a row. This current negative move led Orlando, among others, to his opinion, as “CNBC” reports.
Continue reading “Market Strategist: We face a horrible summer in the stock market”
Most recently, Tesla CEO Elon Musk has expanded its stake in the electric car maker and acquired $ 25 million in shares. What he intends to do with his Tesla shares, the billionaire now gives a first concrete hint.
Elon Musk can not complain about too little work : In addition to his work as CEO of Tesla , he also leads the fortunes of a second multi-billion dollar company: SpaceX. This dual role has recently led to discussions at the shareholders’ meeting, as Musk has two more irons in the fire with the tunnel boring company The Boring Company and the neurotechnology company Neuralink, which are calling for his attention.
Continue reading “Billions for Space: Tesla boss Elon Musk wants to populate Mars”
Another loss week is coming to an end with the yellow precious metal. So far, the minus amounts to 0.9 percent.
Despite various crises, the crisis protection gold remains “out”. While the chart technical situation can be described as particularly bleak, the fundamental situation looks less problematic.
Risks such as the looming international trade war, the imminent end of the federal government and uncertain developments in particularly debt-ridden Italy are so far completely ignored. Now the market players are waiting eagerly for the Commitments of Traders report of the US supervisory authority CFTC (21.30 clock).
Continue reading “Gold: With stable tendency into the weekend”
YouTube gives video providers on its platform ways to earn extra money with subscription fees and the sale of fan merchandise.
YouTube channel operators with more than 100,000 subscribers are expected to be able to sell memberships for $ 4.99 or Euro per month in Europe. Paying viewers can then gain access to additional content such as livestreams. In the US, video providers will also be able to sell fan merchandise directly from YouTube. The Google video service cooperates with the online trading platform Teespring.
YouTube is the number one online video player with more than a billion users, but is competing with authors, including Instagram. The Facebook- based service also cracked the 1 billion-user mark and announced this week its first platform for longer videos with IGTV.
Continue reading “YouTube allows subscription fees and fan merchandise sales”
The Zurich subsidiary of the French group Rothschild & Co posted a net outflow of 211 million Swiss francs in 2017. “This development did not meet our expectations,” said bank chief Laurent Gagnebin on Friday in an interview with the French-French newspaper “l’Agefi”. The main reason for the decline was outflows from two specialized funds.
Nonetheless, the assets under management of the Zurich Private Bank increased, mainly due to the good development on the financial markets. At the end of December, they grew by 3.4 percent to CHF 12.2 billion.
Taking into account the Swiss business managed by Rothschild & Co’s London subsidiary, the volume on the Swiss platform of the group amounted to 26 billion euros. Inflows were mainly from England, Germany and Switzerland, it was said.
2018 “very good” start
The Rothschild Bank has changed the reporting in 2017 to the calendar year, after completing the financial year before each March. Overall, Gagnebin was satisfied with the 2017 business review.
The Rothschild Bank has improved its profitability. In addition, the year 2018 started “very well”. The increased market volatility of recent months has led to an increase in customer activity, says Gagnebin.
The fierce clashes between the US and China, according to the board of directors of the Apple supplier Foxconn, Terry Gou turn to technology.
“They are not really fighting a trade war, it’s a technology war,” Gou said at the General Assembly on Friday.
For his company, the conflict was the biggest challenge in the company’s history. Various plans have been worked out to react, said Gou, without giving any details.
Foxconn has become known as Hon Hai Precision . The company has more than one million employees, most of them in China.
The dispute between the US and China has rocketed up recently. US President Donald Trump announced on Monday that he would impose new tariffs on Chinese goods worth $ 200 billion should the government in Beijing implement retaliatory tariffs on previous US import restrictions. Analysts also believe that this is disrupting the supply chains for the technology and automotive industries, for which Foxconn produces for the most part.
The Chinese Industrial and Commercial Bank of China (ICBC) now has a branch in Zurich.
After China Construction Bank, ICBC is the second major Chinese bank to establish a presence in the financial center of Zurich.
The opening of the branch was on Thursday evening, an illustrious circle: were present in addition to the ICBC President Shu Gu and a representative of the Chinese Embassy also Finance Minister Ueli Maurer (SVP), National Bank President Thomas Jordan and Government Councilor Carmen Walker Späh (FDP), like the Zurich Department of Economic Affairs announced on Friday.
Over two years ago, a Zurich delegation in China made itself strong for the branch. Accordingly, Economics Director Walker Späh was pleased to announce a “further highlight of the cantonal engagement to promote trade relations with China”. That strengthens the financial center. According to Walker Späh, ICBC is the largest bank in the world in terms of total assets.
According to the Federal Reserve, the US big banks have certainly passed the latest test, despite tougher conditions.
The Fed said the evening was over, with the 35 largest institutions achieving a 7.9 percent risk-weighted Common Equity Tier 1 ratio, despite the assumption of an unemployment rate of 10 percent, a 7.5 percent decline in economic output and a steep yield curve. The minimum requirement was 4.5 percent. The banks, which accounted for 80 percent of the assets of the US banking market, were “heavily capitalized,” the Fed said.
However, the safety distance to the specifications was not quite as large as in the less severe test in 2017, in which 9.2 percent had been achieved. According to the Fed, two large banks passed the test for a supplementary benchmark, and the leverage ratio was only just short: Goldman Sachs came in at 3.1 percent, Morgan Stanley at 3.3 percent. Mandatory are at least 3.0 percent. In the case of this parameter, the assets are allocated to, inter alia, derivative positions.
Continue reading “Fed: US big banks insist on stress test”
Following the profit warning from Daimler, BMW is sticking to the outlook for the current year.
The business outlook of the company is unchanged, as the Munich premium manufacturer announced. In view of the discussion about additional tariffs in world trade, BMW continues to evaluate different scenarios and possible strategic options. The forecasts for 2018 assume that the global economic and political conditions will “not change significantly”.
Daimler had announced a profit warning on Wednesday due to higher Chinese import duties on vehicles manufactured in the US surprisingly. Due to import tariffs, the Group’s SUV sales in the important Chinese market are likely to decline. In addition to the trade dispute, the diesel scandal and the new WLTP exhaust and consumption test process are taking their toll on the Stuttgart-based company.
Continue reading “BMW confirms outlook for 2018”
In the current battle for large parts of Rupert Murdoch’s media empire 21st Century Fox, the inflated offer of media company Walt Disney does not seem to discourage bidder rival Comcast.
Comcast chief Brian Roberts has privately signaled his willingness to increase the offer of the US cable company, reported the Financial Times (FT) on Thursday, citing persons familiar with the matter. An official statement rejected the company.
Comcast has consulted with its banks Wells Fargo and Bank of America, according to the newspaper, as the group even more money together, without losing its good credit rating agencies. The rating agency Moody’s had already warned Comcast of a possible credit rating down.
Even the courted media company Fox is currently assuming that Comcast returns with a higher supply, the paper reported, citing information from the environment of the Murdoch family on. However, Murdoch Disney continues to see as the more suitable buyer because of lower regulatory hurdles.
Continue reading “Comcast is apparently exploring higher bid for Fox’s expanded Disney bid”