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Asia stocks firm, dollar sags with US yields on Fed cut bets
  • August 15, 2024

Asia stocks firm, dollar sags with US yields on Fed cut bets

TOKYO (Reuters) -Asian stocks were firm on Thursday while the dollar remained on the back foot amid lower U.S. Treasury yields after benign consumer inflation data overnight reinforced bets for the Federal Reserve to start cutting interest rates next month. U.S. S&P 500 futures pointed 0.16% higher after the cash index advanced 0.4% on Wednesday, buoyed by the slowest rise in the consumer price index in more than three years. "The report 'checked the box' for the Fed to start cutting rates in September," TD Securities analysts wrote in a report.

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Iron Ore Hits Lowest Since 2022 as Steel Crisis Rattles Market
  • August 15, 2024

Iron Ore Hits Lowest Since 2022 as Steel Crisis Rattles Market

(Bloomberg) -- Iron ore hit the lowest level since 2022 on concern that global supply is running ahead of demand, with China’s steelmakers mired in a crisis and cutting output just as major miners boost exports.Most Read from BloombergManchester Is Giving London a Run for Its MoneyBoston’s Broke and Broken Transit System Hurts Downtown RecoveryA Warehouse Store Promises Housing for South LA, in BulkBiden Invests $100 Million to Fuel Housing ConstructionJohannesburg Mayor Quits Amid Infighting, F

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Goldman Sachs Calls Out 2 Packaged Food Stocks as Top Buys in the Sector
  • August 15, 2024

Goldman Sachs Calls Out 2 Packaged Food Stocks as Top Buys in the Sector

Last week’s spate of market volatility, the poor July jobs report, and the prospect of Federal Reserve interest rate cuts are together prompting renewed fears of a near-term recession. A recent contraction in the PMI – purchasing managers’ index – hasn’t helped matters. And while the market is bouncing back this week, investors are starting to diversify their portfolios – and are looking for a slightly more defensive stance. The packaged food industry makes a sound place to look for such portfol

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LLY, NVO: Which GLP-1 Stock Is the Better Bet?
  • August 15, 2024

LLY, NVO: Which GLP-1 Stock Is the Better Bet?

The GLP-1 (weight-loss drug) boom is continuing to gain steam. As the two leaders in the space, Eli Lilly (LLY) and Novo Nordisk (NVO) stand out as top picks for investors to play the trend. Though the two biotech innovators have felt the pressure from the July-August market sell-off, high demand and efforts to ramp up production seem to be setting the stage for a glorious growth surge at some point over the near future. As always, though, one firm may be in better shape than the other to seize

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Lenovo Q1 revenue jumps 20%, beats estimates as PC market recovers
  • August 15, 2024

Lenovo Q1 revenue jumps 20%, beats estimates as PC market recovers

China's Lenovo Group reported a 20% rise in its quarterly revenue on Thursday, as the global personal computer market showed signs of recovery after a two-year slump. For the three months ended in June, the company's revenue rose to $15.4 billion, above the average estimate of $14.1 billion expected by analysts polled by LSEG. This marks a third consecutive quarter of revenue growth for Lenovo after it suffered five straight quarters of revenue declines amid the post-COVID slowdown.

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McDonald’s Stock (NYSE:MCD): Comparable Sales Turn Red — Now What?
  • August 14, 2024

McDonald’s Stock (NYSE:MCD): Comparable Sales Turn Red — Now What?

McDonald’s (MCD) shares have declined by 7.4% year-to-date, mainly due to enduring bearish sentiment sustained by decelerating comparable sales, which even dipped into negative territory in its most recent Q2 results. This, in turn, can be largely attributed to wider industry trends and factors beyond McDonald’s control. Despite this, the company is on track to see record sales and near-record earnings this year, all while trading at an attractive valuation. Thus, I am bullish on MCD stock and b

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Margin trading in Japanese stocks sharply shrinks after market rout
  • August 14, 2024

Margin trading in Japanese stocks sharply shrinks after market rout

Trading using borrowed money, or margin trading, in Japan's stock market fell sharply last week as investors were forced to dump stocks during the Nikkei index's biggest fall in nearly 40 years. Margin trading, which involves using borrowed cash from brokerages to ramp up bets in the stock market, is popular among Japanese retail investors.

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