By Winni Zhou

SHANGHAI, Oct 12 (Reuters)China’s move to cool a rising yuan stands little chance of stopping further gains, international banks say, as the strength of the world’s number two economy and a near-record yield advantage drive big and steady inflows.

Over the weekend, the People’s Bank of China (PBOC) scrapped a requirement for banks to hold a reserve of yuan forward contracts, removing a guard against depreciation and sending the currency down 1% for its steepest drop since March.

Yet an identical move three years ago ultimately proved ineffective, and investors say this time the conditions are even more likely to buoy the yuan, perhaps as far as 6.5 per dollar.

“In all previous instances, the impact of the regulatory change was temporary,” said Eugenia Victorino, head of Asia strategy at Swedish bank SEB in Singapore.

“We continue to expect the yuan to remain on

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The benchmark Sensex and Nifty 50 indices continued to trend northwards amid minor volatility last week.

Banking and IT stocks aided the rally; the monetary policy, with its focus on liquidity measures, too, helped. The way ahead is crucial though as the benchmarks enter pre Covid-19 levels.

 

So, investors should thread with caution in the coming week. The September quarter earnings announcements of bluechip companies can provide direction to the key indices.

Nifty 50 (11,914.2)

Last week, the Nifty 50 index conclusively breached key resistances at 11,580 and 11,630. Further, it has crossed the recent high of 11,794 recorded in late August this year. The index surged 497 points, or 4.4 per cent, in the past week.

Week ahead: The index did a volte-face in late September at around 10,800 that provided a key base and continued to trend northwards. It has been on a near-term uptrend since then.

The

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a man wearing a suit and tie: CNBC TV


© CNBC TV
CNBC TV

  • Miller Tabak’s chief market strategist told CNBC on Friday the stock market is signaling it has upside potential before Election Day. 
  • Matt Maley cited the outperformance of the Russell 2000 index and said small-cap stocks and chip stocks have room to grow. 
  • He’s less optimistic about the market in the long term, however. A second wave of the coronavirus and an expensive market could be bearish after the election, he said. 

Matt Maley of Miller Tabak  told CNBC on Friday that the stock market is signaling it has upside potential before Election Day.

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The chief market strategist said he is watching the recent outperformance of small-cap stocks. As of Thursday, the Russell 2000 small-cap index was up almost 6% week-to-date, compared to a roughly 3% gain in the S&P 500. The broadening out of the stock market rally, which was previously dominated by

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InvestorPlace – Stock Market News, Stock Advice & Trading Tips

October can be a scary month if you’re a superstitious stock trader. Here’s why…

Source: AdityaB. Photography/ShutterStock.com

On Oct. 29, 1929, the stock market crashed on Black Tuesday and ushered in the Great Depression.

Not to be outdone, on Oct. 19, 1987, the stock market crashed again on Black Monday, wiping out more than 20% of the market’s value in a single day.

Nervous yet? Do you have your lucky rabbit’s foot handy, just in case?

Well, we don’t think you’re going to need it this year because the stock market appears to be doing just fine on its own.

You see, there’s nothing magical, or cursed, about October. It’s all quite natural really. Big movements — both bullish and bearish — tend to occur when a lot is going on in the world, and October happens to be a

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In the past week, Southwest Airlines LUV dominated headlines by virtue of its positive update on cash burn for the September quarter. The bullish forecast on this key metric was primarily owing to improved air-travel demand on the leisure front. Moreover, booking trends have also been encouraging.

Meanwhile, with no confirmation available yet on another round of federal stimulus for the airlines, job cuts are looming large on the industry post Sep 30 (when the current package expires). However, the aviation industry is looking to limit job losses in absence of no further aid. Updates in this respect were available from Delta Air Lines DAL and United Airlines UAL in the past week.

European carrier Ryanair  Holdings RYAAY was also in the news, courtesy of its decision to trim its October capacity due to coronavirus-led travel restrictions. Notably, U.S. carriers like Hawaiian Holdings HA  provided a tepid capacity outlook for

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Money manager Kevin Nicholson expects the stock market to stabilize and rise in early 2021.

But the co-chief investment officer of global fixed income at RiverFront Investment Group warns it’ll come at a cost to the jobs market.

“Companies are going to right-size their business,’ Nicholson told CNBC’s “Trading Nation” on Thursday. “This is going to create the divergence between the economy and the market.”

According to Nicholson, it’ll be a major setback to the economic recovery from the Covid-19 due to the hit to consumption.

“A lot of these workers who were furloughed will not end up going back to work,” he said. “They’re going to become permanently unemployed.”

Nicholson already sees the trend unfolding in this week’s layoff announcements from Citigroup and Wells Fargo.

‘The pandemic pledge’

“The pandemic pledge that a lot of companies put out there will go away as they move towards focusing on profitability,”

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General Electric shares extended gains Thursday, following on from last night’s 10% surge triggered by a bullish outlook on industrial group cash flow from CEO Larry Culp.



a sign on the side of a building: General Electric Shares Extend Gains After CEO Culp Gives Bullish Update On Industrial Cash Flow


© TheStreet
General Electric Shares Extend Gains After CEO Culp Gives Bullish Update On Industrial Cash Flow

Culp told Morgan Stanley’s Laguna Conference that the industrial group would be cash flow positive before the end of the year, a noted improvement from his July update that it would likely turn positive by 2021.

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Culp told investors attending the virtual event that GE “will deliver positive cash flow in the back half”, sending shares sharply higher even as broader markets sold-off following the Federal Reserve’s interest rate decision and statement.

“We are really not waiting for the markets to come back and put the wind we had in our sails,” Culp said. “We know this is going to be a self-help story

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  • Back-to-back weeks of stock market declines should be used by investors as an opportunity to buy stocks at better levels, UBS said in a note on Friday.
  • Since record highs were recorded on September 2, the S&P 500 is down 7%, while the Nasdaq 100 is down 10%.
  • Despite a combination of the US Senate’s failure to pass a stimulus bill on Thursday, and a fourth consecutive week of rising jobless claims, UBS expects markets to “refocus on the positives.”
  • Hear are three reasons why investors should stay long-term bullish on equities and buy the dip, according to UBS.
  • Visit the Business Insider homepage for more stories.

Investors should use the back-to-back weeks of declines in the stock market as an opportunity to buy stocks at better levels.

That’s according to UBS, which said in a note on Friday that the 10% decline in the

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The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 823 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds’ and investors’ portfolio positions as of June 30th, when the S&P 500 Index was trading around the 3100 level. Since the end of March, investors decided to bet on the economic recovery and a stock market rebound. S&P 500 Index returned more than 50% since its bottom. In this article you are going to find out whether hedge funds thought Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) was a good investment heading into the third quarter and how the stock traded in comparison to the top hedge fund picks.

Is Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) an exceptional investment right now? Money managers were taking a bullish view. The number of long hedge fund positions improved by

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How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of capital and have to conduct due diligence while choosing their next pick. They don’t always get it right, but, on average, their stock picks historically generated strong returns after adjusting for known risk factors. With this in mind, let’s take a look at the recent hedge fund activity surrounding Zebra Technologies Corporation (NASDAQ:ZBRA) and determine whether hedge funds had an edge regarding this stock.

Zebra Technologies Corporation (NASDAQ:ZBRA) shareholders have witnessed an increase in activity from the world’s largest hedge funds of late. Zebra Technologies Corporation (NASDAQ:ZBRA) was in 38 hedge funds’ portfolios at the

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