Month: August 2020

Global stocks mixed after Wall Street advances to record

4 weeks ago Jaime E. Love

BEIJING (AP) — Global stocks were mixed Monday after Wall Street turned in its fifth straight weekly gain and China’s manufacturing growth held steady.

Frankfurt and Tokyo advanced while London opened lower and Hong Kong declined.

U.S. stocks benefited from Federal Reserve chairman Jerome Powell’s announcement of a strategy change that could keep interest rates low. The change, dubbed “average inflation targeting,” could hold down rates even if inflation hits the Fed’s 2% target.

In early trading, the FTSE 100 in London lost 0.6% to 5,963.57 while Frankfurt’s DAX gained 0.7% to 13,122.16. The CAC 40 in France added 0.9% to 5,050.16.

On Wall Street, futures for the benchmark S&P 500 Index and the Dow Jones Industrial Average were up 0.3%.

On Friday, S&P 500 gained 0.7% while the Dow rallied 0.6%. The S&P gained 3.3% for the week.

Asian markets opened higher but all except Japan retreated, ending the

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Should You Invest in the Global X U.S. Infrastructure Development ETF (PAVE)?

1 month ago Jaime E. Love

Designed to provide broad exposure to the Utilities – Infrastructure segment of the equity market, the Global X U.S. Infrastructure Development ETF (PAVE) is a passively managed exchange traded fund launched on 03/06/2017.

While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.

Additionally, sector ETFs offer convenient ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Utilities – Infrastructure is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 14, placing it in bottom 13%.

The fund is sponsored by Global X Management. It has amassed assets over $231.12 million, making it one of the average sized ETFs attempting to match the performance of the Utilities – Infrastructure

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Global companies raise most funds for the month of August in a decade

1 month ago Jaime E. Love

By Scott Murdoch and Patturaja Murugaboopathy

(Reuters) – Companies raised the most funds in global equity and debt markets for the month of August in a decade as homebound bankers spend their summer fixing deals off the back of trillions of dollars of stimulus worldwide to fight the coronavirus pandemic.

Companies have raised $65.5 billion through initial public offerings (IPOs) and high-yield bond issuances globally so far in August, the highest for that month in at least 10 years, according to Refinitiv data. They raised $98.6 billion in July and $126.5 billion in June, which was the highest in 20 years.

Graphic: Monthly global IPO proceeds https://fingfx.thomsonreuters.com/gfx/mkt/dgkpllgrapb/Monthly%20global%20IPO%20proceeds.jpg

It comes as governments and central banks have made at least $15 trillion of stimulus available to help economies withstand the fallout of the coronavirus pandemic..

The fact that bankers and investors were working during the traditional August holiday month, due to coronavirus

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Why Is Align Technology (ALGN) Down 0.6% Since Last Earnings Report?

1 month ago Jaime E. Love

A month has gone by since the last earnings report for Align Technology (ALGN). Shares have lost about 0.6% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Align Technology due for a breakout? Before we dive into how investors and analysts have reacted as of late, let’s take a quick look at the most recent earnings report in order to get a better handle on the important drivers.

Align Technology Earnings Fall Shy of Estimates in Q2

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Indian Stocks Decline Tracking Global Peers After Fed Minutes

1 month ago Jaime E. Love

(Bloomberg) — Indian stocks fell, snapping a three-day gain, as a risk-off mood swept through global markets after Federal Reserve minutes fueled concern over the pace of recovery for the world’s largest economy.

The benchmark S&P BSE Sensex Index declined 1% to end at 38,220.39, after closing at its highest since March 3 on Wednesday. The NSE Nifty 50 Index fell 0.8%. The MSCI Asia Pacific Index was down 1.5%, led by a slump in technology shares.

Fed officials noted that the coronavirus pandemic would weigh heavily on economic activity, according to minutes of the central bank’s July meeting. Separately, India’s interest rate-setting panel turned cautious about a recent surge in consumer inflation, according to minutes of the Aug. 4-6 meeting published after close of trading Thursday.

Even so, the Sensex is up 1.6% so far this month, with foreign investors having bought a net $5.4 billion of local stocks

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