Object Lesson: War On Cash Backfires On India’s Economy
Indian Prime Minister Narendra Modi launched a surprise attack on cash in late 2016. He gave Indians a few days to convert the two largest denomination bills then circulating to bank deposits, after which point any undeposited notes would become worthless. The move was intensely controversial. Transactions completed using cash represented the vast majority of […]
FireEye Rallies After Morgan Stanley Upgrades Shares
The shares of IT security company FireEye (FEYE) are jumping after Morgan Stanley upgraded the stock to Overweight from Equal Weight. As reasons for the upgrade, the firm cited the convenience of the company’s new Helix solution, the “stabilization” shown by its second quarter results, and the upbeat checks conducted by the firm. HELIX: The […]
Berkshire Hathaway Stock Hit By Natural Disaster
The U.S. stock market was closed on Monday this week due to the Labor Day holiday. But when it opened on Tuesday major indexes tumbled by more than 1% in a single trading session. The Dow Jones industrial average fell by 234 points, posting its worst day since August 17. Financial stocks saw their steepest decline […]
AAPL Stock Slips After Reports Of New Iphone “Plagued By Production Glitches”
AAPL stock is sliding this afternoon as The Wall Street Journal reports the new iPhone is said to have seen “production glitches.” Apple Inc.’s new iPhone, which is expected to be unveiled Tuesday, was plagued by production glitches early in the manufacturing process this summer, according to people familiar with the situation, which could result in extended supply shortfalls […]
Get Sweet Surprises On Earnings From These 5 Stocks
The investing world is at present tousled with geopolitics, domestic politics, natural disasters like hurricanes and mixed economic data points. But this doesn’t mean that Wall Street activities will stop. Even in a shaky market like this, people are busy investing, but with greater caution. Naturally, what every investor would want now is a quality […]
USD/JPY, Treasury Yields Struggle Ahead Of More Fed Rhetoric
Ticker Last High Low Daily Change (pip) Daily Range (pip) EUR/USD 1.2029 1.2059 1.1914 112 145 EUR/USD breaks out of the narrow range from earlier this week, with the pair at risk for a further advance as the European Central Bank (ECB) appears to be on course to conclude its quantitative easing (QE) program. […]
Piper Says Buy Alnylam Sell-Off Today For Late September Data Release
Piper Jaffray analyst Edward Tenthoff lowered his price target for Alnylam Pharmaceuticals to $110 from $126 after the company said it discontinued dosing of fitusiran in all ongoing studies following a fatal thrombotic event in a Hemophilia A patient. The stock in premarket trading is down 12%, or $10.52, to $75.50. The analyst believes the […]
Forget Retail, Focus On Broad Consumer Discretionary ETFs
The retail sector has been underperforming this year owing to the digital transformation in shopping and consumers’ online binge that has curbed foot and mall traffic. As such, most retailers, including those with a big-box focus, are struggling to compete with e-commerce channels and are being forced to close their doors or file for bankruptcy. […]
Bitcoin Drops By $1000 And No One Cares
Five years ago, the following would have been inconceivable. In a 48-hour period, the dollar/bitcoin exchange ratio dropped fully $1,000. A day later, half the gains came back. In the Bitcoin community, this was hardly discussed at all. Not even the websites and writers specializing in the topic wrote much about it. Hysterical claims that […]
Harvey And Gold
Last week, hurricane Harvey devastated parts of the U.S. What does it mean for the gold market? On Friday, Hurricane Harvey made landfall in Texas (and later in Louisiana), causing catastrophic flooding. The storm caused at least 71 confirmed deaths in the U.S. (and 1 in Guyana), inundated hundreds of thousands of homes and displaced […]
