By Nell Mackenzie LONDON (Reuters) -Ex Millennium trader and founder of hedge fund Kintbury Capital, Chris Dale, says he is short British telecommunications company BT. Dale told attendees at the Sohn conference in London that the debt levels of the company were rising and its decision to reinstate dividends would cost the company. Dale entered …
(Reuters) – The chief executives of the biggest U.S. banks are set to appear before the Senate Banking Committee on Wednesday, where they will probably push back on proposals for stricter capital rules. The Committee’s Democratic chair Sherrod Brown has alleged that banks “reward corporations that raise prices on Americans.” Congress convenes the CEOs as …
Factbox-US bank bosses to be grilled by senators Read More »
By Casey Hall and Amy Lv SHANGHAI/BEIJING (Reuters) – Gold buyers in China are getting younger, as a property market downturn, weakening stocks and currency and low bank deposit interest rates have left them with dwindling options to save for rainy days in a sputtering economy. The trend underscores heightening uncertainty about growth prospects in …
Young Chinese spurn traditional investments in favour of gold Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) – An epic rally in U.S. stocks has sent Wall Street’s fear gauge to a post-pandemic low. Options strategists believe market gyrations may stay subdued for some time – potentially smoothing the way for further gains in equities. The Cboe Volatility Index, which measures investor demand for protection …
By David Randall NEW YORK (Reuters) -Global markets will experience greater volatility in 2024 as the Federal Reserve cuts benchmark interest rates fewer times than many investors are pricing in, strategists at the BlackRock Investment Institute said at a panel discussion on Tuesday. Nevertheless, BlackRock, the world’s largest asset manager, continues to see opportunities in …
Market expectations of Fed cuts ‘overdone,’ volatility to jump in 2024, BlackRock says Read More »
NEW YORK (Reuters) – U.S. bank chiefs expressed more confidence in the economic outlook for 2024 after consumers and businesses showed surprising strength this year. Here are quotes from the Goldman Sachs U.S. Financial Services Conference on Tuesday: David Solomon, Goldman Sachs CEO: “People continue to be cautious on the U.S. economy, but I think …
US bank bosses predict soft landing as consumers stay resilient Read More »
By Nupur Anand NEW YORK (Reuters) – Wells Fargo CEO Charlie Scharf told investors on Tuesday he expects to book higher-than-anticipated severance expenses between $750 million to a little less than $1 billion in the fourth quarter. “We are continuing to focus on efficiency with turnover dropping, unfortunately, we’re going to have to be more …
Wells Fargo CEO expects severance expenses to exceed $750 million Read More »
By Nell Mackenzie LONDON (Reuters) – Trend-following hedge funds began December in bullish mood, buying U.S., European and Japan stocks, a prime brokerage note from JPMorgan said. The S&P 500 and Japan’s blue-chip Nikkei both rallied almost 9% in November. European shares posted gains of over 6%. Hedge funds overall finished November by posting a …
Trend hedge funds start holiday season by buying stocks, JPMorgan says Read More »
By Lewis Krauskopf NEW YORK (Reuters) – The S&P 500 will likely struggle to rise much above current levels into the middle of 2024, as investors rotate away from growth stocks and the Federal Reserve holds off from interest rate cuts in the first half of next year, Stifel equity strategists said on Monday. Stifel …
Stifel strategists see S&P 500 struggling to gain much ground by mid 2024 Read More »
By Naomi Rovnick and Nell Mackenzie LONDON (Reuters) – Leading hedge funds and mutual funds are betting on gains outside the tech sector in coming months, Goldman Sachs research shows. The ten stocks currently most favoured by both do not include any of the so-called Magnificent Seven tech titans that now dominate the S&P 500 …
Goldman: Hedge and mutual funds favour banking and healthcare over tech Read More »
