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Bitcoin, Ethereum trending higher after overnight trading

Bitcoin gained more than 4% overnight, and as of 6 a.m. ET is trading at close to $38,000......»»

Category: topSource: foxnewsMay 25th, 2021

Bitcoin, Ethereum trending higher after overnight trading

Bitcoin gained more than 4% overnight, and as of 6 a.m. ET is trading at close to $38,000......»»

Category: topSource: foxnewsMay 25th, 2021

Here Is Why Bargain Hunters Would Love Fast-paced Mover Cushman & Wakefield (CWK)

Cushman & Wakefield (CWK) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices. Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.It could be safer to invest in bargain stocks that have been witnessing price momentum recently. While the Zacks Momentum Style Score (part of the Zacks Style Scores system), which pays close attention to trends in a stock's price or earnings, is pretty useful in identifying great momentum stocks, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.Cushman & Wakefield (CWK) is one of the several great candidates that made it through the screen. While there are numerous reasons why this stock is a great choice, here are the most vital ones:Investors' growing interest in a stock is reflected in its recent price increase. A price change of 0.7% over the past four weeks positions the stock of this company well in this regard.While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. CWK meets this criterion too, as the stock gained 3.5% over the past 12 weeks.Moreover, the momentum for CWK is fast paced, as the stock currently has a beta of 1.5. This indicates that the stock moves 50% higher than the market in either direction.Given this price performance, it is no surprise that CWK has a Momentum Score of B, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped CWK earn a Zacks Rank #2 (Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Most importantly, despite possessing fast-paced momentum features, CWK is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. CWK is currently trading at 0.48 times its sales. In other words, investors need to pay only 48 cents for each dollar of sales.So, CWK appears to have plenty of room to run, and that too at a fast pace.In addition to CWK, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.Click here to sign up for a free trial to the Research Wizard today. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cushman & Wakefield PLC (CWK): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacks2 hr. 13 min. ago

Vectrus (VEC) Is Attractively Priced Despite Fast-paced Momentum

Vectrus (VEC) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices. Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potential fails to justify their swelled-up valuation. In that phase, investors find themselves invested in shares that have limited to no upside or even a downside. So, betting on a stock just by looking at the traditional momentum parameters could be risky at times.A safer approach could be investing in bargain stocks with recent price momentum. While the Zacks Momentum Style Score (part of the Zacks Style Scores system) helps identify great momentum stocks by paying close attention to trends in a stock's price or earnings, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.There are several stocks that currently pass through the screen and Vectrus (VEC) is one of them. Here are the key reasons why this stock is a great candidate.Investors' growing interest in a stock is reflected in its recent price increase. A price change of 0.5% over the past four weeks positions the stock of this government services company well in this regard.While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. VEC meets this criterion too, as the stock gained 0.6% over the past 12 weeks.Moreover, the momentum for VEC is fast paced, as the stock currently has a beta of 1.48. This indicates that the stock moves 48% higher than the market in either direction.Given this price performance, it is no surprise that VEC has a Momentum Score of B, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped VEC earn a Zacks Rank #2 (Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Most importantly, despite possessing fast-paced momentum features, VEC is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. VEC is currently trading at 0.35 times its sales. In other words, investors need to pay only 35 cents for each dollar of sales.So, VEC appears to have plenty of room to run, and that too at a fast pace.In addition to VEC, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.Click here to sign up for a free trial to the Research Wizard today. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Vectrus, Inc. (VEC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks2 hr. 13 min. ago

Despite Fast-paced Momentum, CNH (CNHI) Is Still a Bargain Stock

CNH (CNHI) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen. Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potential fails to justify their swelled-up valuation. In that phase, investors find themselves invested in shares that have limited to no upside or even a downside. So, betting on a stock just by looking at the traditional momentum parameters could be risky at times.It could be safer to invest in bargain stocks that have been witnessing price momentum recently. While the Zacks Momentum Style Score (part of the Zacks Style Scores system), which pays close attention to trends in a stock's price or earnings, is pretty useful in identifying great momentum stocks, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.CNH Industrial (CNHI) is one of the several great candidates that made it through the screen. While there are numerous reasons why this stock is a great choice, here are the most vital ones:A dash of recent price momentum reflects growing interest of investors in a stock. With a four-week price change of 0.3%, the stock of this truck, tractor and bus maker is certainly well-positioned in this regard.While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. CNHI meets this criterion too, as the stock gained 0.2% over the past 12 weeks.Moreover, the momentum for CNHI is fast paced, as the stock currently has a beta of 1.72. This indicates that the stock moves 72% higher than the market in either direction.Given this price performance, it is no surprise that CNHI has a Momentum Score of B, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped CNHI earn a Zacks Rank #1 (Strong Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Most importantly, despite possessing fast-paced momentum features, CNHI is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. CNHI is currently trading at 0.72 times its sales. In other words, investors need to pay only 72 cents for each dollar of sales.So, CNHI appears to have plenty of room to run, and that too at a fast pace.In addition to CNHI, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.Click here to sign up for a free trial to the Research Wizard today. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CNH Industrial N.V. (CNHI): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacks2 hr. 13 min. ago

Futures Rise On Taper, Evergrande Optimism

Futures Rise On Taper, Evergrande Optimism US index futures jumped overnight even as the Fed confirmed that a November tapering was now guaranteed and would be completed by mid-2022 with one rate hike now on deck, while maintaining the possibility to extend stimulus if necessitated by the economy. Sentiment got an additional boost from a strong showing of Evergrande stock - which closed up 17% - during the Chinese session, which peaked just after Bloomberg reported that China told Evergrande to avoid a near-term dollar bond default and which suggested that the "government wants to avoid an imminent collapse of the developer" however that quickly reversed when the WSJ reported, just one hour later, that China was making preparations for Evergrande's demise, and although that hammered stocks, the report explicitly noted that a worst-case scenario for Evergrande would mean a partial or full nationalization as "local-level government agencies and state-owned enterprises have been instructed to step in only at the last minute should Evergrande fail to manage its affairs in an orderly fashion." In other words, both reports are bullish: either foreign creditors are made whole (no default) as per BBG or the situation deteriorates and Evergrande is nationalized ("SOEs step in") as per WSJ. According to Bloomberg, confidence is building that markets can ride out a pullback in Fed stimulus, unlike 2013 when the taper tantrum triggered large losses in bonds and equities. "Investors are betting that the economic and profit recovery will be strong enough to outweigh a reduction in asset purchases, while ultra-low rates will continue to support riskier assets even as concerns linger about contagion from China’s real-estate woes." That's one view: the other is that the Fed has so broken the market's discounting ability we won't know just how bad tapering will get until it actually begins. “The Fed has got to be pleased that their communication on the longer way to tapering has avoided the dreaded fear of the tantrum,” Jeffrey Rosenberg, senior portfolio manager for systematic fixed income at BlackRock Inc., said on Bloomberg Television. “This is a very good outcome for the Fed in terms of signaling their intent to give the market information well ahead of the tapering decision.” Then there is the question of Evergrande: “With regards to Evergrande, all those people who are waiting for a Lehman moment in China will probably have to wait another turn,” said Ken Peng, an investment strategist at Citi Private Bank Asia Pacific. “So I wouldn’t treat this as completely bad, but there are definitely a lot of risks on the horizon.” In any case, today's action is a continuation of the best day in two months for both the Dow and the S&P which staged a strong recovery from two-month lows hit earlier in the week, and as of 745am ET, S&P 500 E-minis were up 25.25 points, or 0.6%, Dow E-minis were up 202 points, or 0.59%, while Nasdaq 100 E-minis were up 92.0 points, or 0.60%. In the premarket, electric vehicle startup Lucid Group rose 3.1% in U.S. premarket trading. PAVmed (PVM US) jumps 11% after its Lucid Diagnostics unit announced plans to list on the Global Market of the Nasdaq Stock Market.  Here are some of the biggest movers today: U.S.-listed Chinese stocks rise in premarket trading as fears of contagion from China Evergrande Group’s debt crisis ease. Blackberry (BB US) shares rise 8.7% in premarket after co.’s 2Q adjusted revenue beat the average of analysts’ estimates Eargo (EAR US) falls 57% in Thursday premarket after the hearing aid company revealed it was the target of a Justice Department criminal probe and withdrew its forecasts for the year Amplitude Healthcare Acquisition (AMHC US) doubled in U.S. premarket trading after the SPAC’s shareholders approved the previously announced business combination with Jasper Therapeutics Steelcase (SCS US) fell 4.8% Wednesday postmarket after the office products company reported revenue for the second quarter that missed the average analyst estimate Vertex Energy Inc. (VTNR US) gained 2.1% premarket after saying the planned acquisition of a refinery in Mobile, Alabama from Royal DutVTNR US Equitych Shell Plc is on schedule Synlogic (SYBX US) shares declined 9.7% premarket after it launched a stock offering launched without disclosing a size HB Fuller (FUL US) climbed 2.7% in postmarket trading after third quarter sales beat even the highest analyst estimate Europe's Stoxx 600 index rose 0.9%, lifted by carmakers, tech stocks and utilities, which helped it recover losses sparked earlier in the week by concerns about Evergrande and China’s crackdown on its property sector. The gauge held its gain after surveys of purchasing managers showed business activity in the euro area lost momentum and slowed broadly in September after demand peaked over the summer and supply-chain bottlenecks hurt services and manufacturers. Euro Area Composite PMI (September, Flash): 56.1, consensus 58.5, last 59.0. Euro Area Manufacturing PMI (September, Flash): 58.7, consensus 60.3, last 61.4. Euro Area Services PMI (September, Flash): 56.3, consensus 58.5, last 59.0. Germany Composite PMI (September, Flash): 55.3, consensus 59.2, last 60.0. France Composite PMI (September, Flash): 55.1, consensus 55.7, last 55.9. UK Composite PMI (September, Flash): 54.1, consensus 54.6, last 54.8. Commenting on Europe's PMIs, Goldman said that the Euro area composite PMI declined by 2.9pt to 56.1 in September, well below consensus expectations. The softening was broad-based across countries but primarily led by Germany. The peripheral composite flash PMI also weakened significantly in September but remain very high by historical standards (-2.4pt to 57.5). Across sectors, the September composite decline was also broad-based, with manufacturing output softening (-3.3pt to 55.6) to a similar extent as services (-2.7pt to 56.3). Supply-side issues and upward cost and price pressures continued to be widely reported. Expectations of future output growth declined by less than spot output on the back of delta variant worries and supply issues, remaining far above historically average levels. Earlier in the session, Asian stocks rose for the first time in four sessions, as Hong Kong helped lead a rally on hopes that troubled property firm China Evergrande Group will make progress on debt repayment. The MSCI Asia Pacific Index climbed as much as 0.5%, with Tencent and Meituan providing the biggest boosts. The Hang Seng jumped as much as 2.5%, led by real estate stocks as Evergrande surged more than 30%. Hong Kong shares later pared their gains. Asian markets were also cheered by gains in U.S. stocks overnight even as the Federal Reserve said it may begin scaling back stimulus this year. A $17 billion net liquidity injection from the People’s Bank of China also provided a lift, while the Fed and Bank of Japan downplayed Evergrande risks in comments accompanying policy decisions Wednesday. Evergrande’s stock closed 18% higher in Hong Kong, in a delayed reaction to news a unit of the developer had negotiated interest payments on yuan notes. A coupon payment on its 2022 dollar bond is due on Thursday “Investors are perhaps reassessing the tail risk of a disorderly fallout from Evergrande’s credit issues,” said Chetan Seth, a strategist at Nomura. “However, I am not sure if the fundamental issue around its sustainable deleveraging has been addressed. I suspect markets will likely remain quite volatile until we have some definite direction from authorities on the eventual resolution of Evergrande’s debt problems.” Stocks rose in most markets, with Australia, Taiwan, Singapore and India also among the day’s big winners. South Korea’s benchmark was the lone decliner, while Japan was closed for a holiday In rates, Treasuries were off session lows, with the 10Y trading a 1.34%, but remained under pressure in early U.S. session led by intermediate sectors, where 5Y yield touched highest since July 2. Wednesday’s dramatic yield-curve flattening move unleashed by Fed communications continued, compressing 5s30s spread to 93.8bp, lowest since May 2020. UK 10-year yield climbed 3.4bp to session high 0.833% following BOE rate decision (7-2 vote to keep bond-buying target unchanged); bunds outperformed slightly. Peripheral spreads tighten with long-end Italy outperforming. In FX, the Bloomberg Dollar Spot Index reversed an earlier gain and dropped 0.3% as the dollar weakened against all of its Group-of-10 peers apart from the yen amid a more positive sentiment. CAD, NOK and SEK are the strongest performers in G-10, JPY the laggard.  The euro and the pound briefly pared gains after weaker-than-forecast German and British PMIs. The pound rebounded from an eight-month low amid a return of global risk appetite as investors assessed whether the Bank of England will follow the Federal Reserve’s hawkish tone later Thursday. The yield differential between 10-year German and Italian debt narrowed to its tightest since April. Norway’s krone advanced after Norges Bank raised its policy rate in line with expectations and signaled a faster pace of tightening over the coming years. The franc whipsawed as the Swiss National Bank kept its policy rate and deposit rate at record lows, as expected, and reiterated its pledge to wage currency market interventions. The yen fell as a unit of China Evergrande said it had reached an agreement with bond holders over an interest payment, reducing demand for haven assets. Turkey’s lira slumped toa record low against the dollar after the central bank unexpectedly cut interest rates. In commodities, crude futures drifted lower after a rangebound Asia session. WTI was 0.25% lower, trading near $72; Brent dips into the red, so far holding above $76. Spot gold adds $3.5, gentle reversing Asia’s losses to trade near $1,771/oz. Base metals are well bid with LME aluminum leading gains. Bitcoin steadied just below $44,000. Looking at the day ahead, we get the weekly initial jobless claims, the Chicago Fed’s national activity index for August, and the Kansas City fed’s manufacturing activity index for September. From central banks, there’ll be a monetary policy decision from the Bank of England, while the ECB will be publishing their Economic Bulletin and the ECB’s Elderson will also speak. From emerging markets, there’ll also be monetary policy decisions from the Central Bank of Turkey and the South African Reserve Bank. Finally in Germany, there’s an election debate with the lead candidates from the Bundestag parties. Market Snapshot S&P 500 futures up 0.7% to 4,413.75 STOXX Europe 600 up 1.1% to 468.32 MXAP up 0.5% to 200.57 MXAPJ up 0.9% to 645.76 Nikkei down 0.7% to 29,639.40 Topix down 1.0% to 2,043.55 Hang Seng Index up 1.2% to 24,510.98 Shanghai Composite up 0.4% to 3,642.22 Sensex up 1.4% to 59,728.37 Australia S&P/ASX 200 up 1.0% to 7,370.22 Kospi down 0.4% to 3,127.58 German 10Y yield fell 5.6 bps to -0.306% Euro up 0.4% to $1.1728 Brent Futures up 0.3% to $76.39/bbl Gold spot up 0.0% to $1,768.25 U.S. Dollar Index down 0.33% to 93.16 Top Overnight News from Bloomberg Financial regulators in Beijing issued a broad set of instructions to China Evergrande Group, telling the embattled developer to focus on completing unfinished properties and repaying individual investors while avoiding a near-term default on dollar bonds China’s central bank net-injected the most short- term liquidity in eight months into the financial system, with markets roiled by concerns over China Evergrande Group’s debt crisis Europe’s worst energy crisis in decades could drag deep into the cold months as Russia is unlikely to boost shipments until at least November Business activity in the euro area “markedly” lost momentum in September after demand peaked over the summer and supply chain bottlenecks hurt both services and manufacturers. Surveys of purchasing managers by IHS Markit showed growth in both sectors slowing more than expected, bringing overall activity to a five-month low. Input costs, meanwhile, surged to the highest in 21 years, according to the report The U.K. private sector had its weakest month since the height of the winter lockdown and inflation pressures escalated in September, adding to evidence that the recovery is running into significant headwinds, IHS Markit said The U.K.’s record- breaking debut green bond sale has given debt chief Robert Stheeman conviction on the benefits of an environmental borrowing program. The 10 billion-pound ($13.7 billion) deal this week was the biggest-ever ethical bond sale and the country is already planning another offering next month A more detailed look at global markets courtesy of Newsquaw Asian equity markets traded mostly positive as the region took its cue from the gains in US with the improved global sentiment spurred by some easing of Evergrande concerns and with stocks also unfazed by the marginally more hawkish than anticipated FOMC announcement (detailed above). ASX 200 (+1.0%) was underpinned by outperformance in the commodity-related sectors and strength in defensives, which have more than atoned for the losses in tech and financials, as well as helped markets overlook the record daily COVID-19 infections in Victoria state. Hang Seng (+0.7%) and Shanghai Comp. (+0.6%) were also positive after another respectable liquidity operation by the PBoC and with some relief in Evergrande shares which saw early gains of more than 30% after recent reports suggested a potential restructuring by China’s government and with the Co. Chairman noting that the top priority is to help wealth investors redeem their products, although the majority of the Evergrande gains were then pared and unit China Evergrande New Energy Vehicle fully retraced the initial double-digit advances. KOSPI (-0.5%) was the laggard as it played catch up to the recent losses on its first trading day of the week and amid concerns that COVID cases could surge following the holiday period, while Japanese markets were closed in observance of the Autumnal Equinox Day. China Pumps $17 Billion Into System Amid Evergrande Concerns China Stocks From Property to Tech Jump on Evergrande Respite Philippines Holds Key Rate to Spur Growth Amid Higher Prices Taiwan’s Trade Deal Application Sets Up Showdown With China Top Asian News European equities (Stoxx 600 +0.9%) trade on the front-foot and have extended gains since the cash open with the Stoxx 600 now higher on the week after Monday’s heavy losses. From a macro perspective, price action in Europe has been undeterred by a slowdown in Eurozone PMIs which saw the composite metric slip to 56.1 from 59.0 (exp. 58.5) with IHS Markit noting “an unwelcome combination of sharply slower economic growth and steeply rising prices.” Instead, stocks in the region have taken the cue from a firmer US and Asia-Pac handover with performance in Chinese markets aided by further liquidity injections by the PBoC. Some positivity has also been observed on the Evergrande front amid mounting expectations of a potential restructuring at the company. That said, at the time of writing, it remains unclear what the company’s intentions are for repaying its USD 83.5mln onshore coupon payment. Note, ING highlights that “missing that payment today would still leave a 30-day grace period before this is registered as a default”. The most recent reports via WSJ indicate that Chinese authorities are asking local governments to begin preparations for the potential downfall of Evergrande; however, the article highlights that this is a last resort and Beijing is reluctant to step in. Nonetheless, this article has taken the shine off the mornings risk appetite, though we do remain firmer on the session. Stateside, as the dust settles on yesterday’s FOMC announcement, futures are firmer with outperformance in the RTY (+0.8% vs. ES +0.7%). Sectors in Europe are higher across the board with outperformance in Tech and Autos with the latter aided by gains in Faurecia (+4.6%) who sit at the top of the Stoxx 600 after making an unsurprising cut to its guidance, which will at least provide some clarity on the Co.’s near-term future; in sympathy, Valeo (+6.6) is also a notable gainer in the region. To the downside, Entain (+2.6%) sit at the foot of the Stoxx 600 after recent strong gains with the latest newsflow surrounding the Co. noting that MGM Resorts is considering different methods to acquire control of the BetMGM online gambling business JV, following the DraftKings offer for Entain, according to sources. The agreement between Entain and MGM gives MGM the ability to block any deal with competing businesses; MGM officials believe this grants the leverage to take full control of BetMGM without spending much. Top European News BOE Confronts Rising Prices, Slower Growth: Decision Guide La Banque Postale Eyes Retail, Asset Management M&A in Europe Activist Bluebell Raises Pressure on Glaxo CEO Walmsley Norway Delivers Rate Lift-Off With Next Hike Set for December In FX, not much bang for the Buck even though the FOMC matched the most hawkish market expectations and Fed chair Powell arguably went further by concluding in the post-meeting press conference that substantial progress on the lagging labour front is all but done. Hence, assuming the economy remains on course, tapering could start as soon as November and be completed my the middle of 2022, though he continued to play down tightening prospects irrespective of the more hawkish trajectory implied by the latest SEP dot plots that are now skewed towards at least one hike next year and a cumulative seven over the forecast horizon. However, the Greenback only managed to grind out marginally higher highs overnight, with the index reaching 93.526 vs 93.517 at best yesterday before retreating quite sharply and quickly to 93.138 in advance of jobless claims and Markit’s flash PMIs. CAD/NZD/AUD - The Loonie is leading the comeback charge in major circles and only partially assisted by WTI keeping a firm bid mostly beyond Usd 72/brl, and Usd/Cad may remain contained within 1.2796-50 ahead of Canadian retail sales given decent option expiry interest nearby and protecting the downside (1 bn between 1.2650-65 and 2.7 bn from 1.2620-00). Meanwhile, the Kiwi has secured a firmer grip on the 0.7000 handle to test 0.7050 pre-NZ trade and the Aussie is looking much more comfortable beyond 0.7250 amidst signs of improvement in the flash PMIs, albeit with the services and composite headline indices still some way short of the 50.0 mark. NOK/GBP/EUR/CHF - All firmer, and the Norwegian Crown outperforming following confirmation of the start of rate normalisation by the Norges Bank that also underscored another 25 bp hike in December and further tightening via a loftier rate path. Eur/Nok encountered some support around 10.1000 for a while, but is now below, while the Pound has rebounded against the Dollar and Euro in the run up to the BoE at midday. Cable is back up around 1.3770 and Eur/Gbp circa 0.8580 as Eur/Usd hovers in the low 1.1700 area eyeing multiple and a couple of huge option expiries (at the 1.1700 strike in 4.1 bn, 1.1730 in 1 bn, 1.1745-55 totalling 2.7 bn and 1.8 bn from 1.1790-1.1800). Note, Eurozone and UK flash PMIs did not live up to their name, but hardly impacted. Elsewhere, the Franc is lagging either side of 0.9250 vs the Buck and 1.0835 against the Euro on the back of a dovish SNB Quarterly Review that retained a high Chf valuation and necessity to maintain NIRP, with only minor change in the ordering of the language surrounding intervention. JPY - The Yen is struggling to keep its head afloat of 110.00 vs the Greenback as Treasury yields rebound and risk sentiment remains bullish pre-Japanese CPI and in thinner trading conditions due to the Autumn Equinox holiday. In commodities, WTI and Brent have been choppy throughout the morning in-spite of the broadly constructive risk appetite. Benchmarks spent much of the morning in proximity to the unchanged mark but the most recent Evergrande developments, via WSJ, have dampened sentiment and sent WTI and Brent back into negative territory for the session and printing incremental fresh lows at the time of publication. Back to crude, newsflow has once again centred around energy ministry commentary with Iraq making clear that oil exports will continue to increase. Elsewhere, gas remains at the forefront of focus particularly in the UK/Europe but developments today have been somewhat incremental. On the subject, Citi writes that Asia and Europe Nat. Gas prices could reach USD 100/MMBtu of USD 580/BOE in the winter, under their tail-risk scenario. For metals, its very much a case of more of the same with base-metals supportive, albeit off-best given Evergrande, after a robust APAC session post-FOMC. Given the gas issues, desks highlight that some companies are being forced to suspend/reduce production of items such as steel in Asian/European markets, a narrative that could become pertinent for broader prices if the situation continues. Elsewhere, spot gold and silver are both modestly firmer but remain well within the range of yesterday’s session and are yet to recovery from the pressure seen in wake of the FOMC. US Event Calendar 8:30am: Sept. Initial Jobless Claims, est. 320,000, prior 332,000; Continuing Claims, est. 2.6m, prior 2.67m 8:30am: Aug. Chicago Fed Nat Activity Index, est. 0.50, prior 0.53 9:45am: Sept. Markit US Composite PMI, prior 55.4 9:45am: Sept. Markit US Services PMI, est. 54.9, prior 55.1 9:45am: Sept. Markit US Manufacturing PMI, est. 61.0, prior 61.1 11am: Sept. Kansas City Fed Manf. Activity, est. 25, prior 29 12pm: 2Q US Household Change in Net Wor, prior $5t DB's Jim Reid concludes the overnight wrap My wife was at a parents event at school last night so I had to read three lots of bedtime stories just as the Fed were announcing their policy decision. Peppa Pig, Biff and Kipper, and somebody called Wonder Kid were interspersed with Powell’s press conference live on my phone. It’s fair to say the kids weren’t that impressed by the dot plot and just wanted to join them up. The twins (just turned 4) got their first reading book homework this week and it was a bit sad that one of them was deemed ready to have one with words whereas the other one only pictures. The latter was very upset and cried that his brother had words and he didn’t. That should create even more competitive tension! Back to the dots and yesterday’s Fed meeting was on the hawkish side in terms of the dots and also in terms of Powell’s confidence that the taper could be complete by mid-2022. Powell said that the Fed could begin tapering bond purchases as soon as the November FOMC meeting, in line with our US economists’ forecasts. He left some room for uncertainty, saying they would taper only “If the economy continues to progress broadly in line with expectations, and also the overall situation is appropriate for this.” However he made clear that “the timing and pace of the coming reduction in asset purchases will not be intended to carry a direct signal regarding the timing of interest rate liftoff.” The quarterly “dot plot” showed that the 18 FOMC officials were split on whether to start raising rates next year or not. In June, the median dot indicated no rate increases until 2023, but now 6 members see a 25bps raise next year and 3 members see two such hikes. Their inflation forecasts were also revised up and DB’s Matt Luzzetti writes in his FOMC review (link here) that “If inflation is at or below the Fed's current forecast next year of 2.3% core PCE, liftoff is likely to come in 2023, consistent with our view. However, if inflation proves to be higher with inflation expectations continuing to rise, the first rate increase could well migrate into 2022.” Markets took the overall meeting very much in its stride with the biggest impact probably being a yield curve flattening even if US 10yr Treasury yields traded in just over a 4bp range yesterday and finishing -2.2bps lower at 1.301%. The 5y30y curve flattened -6.7bps to 95.6bps, its flattest level since August 2020, while the 2y10y curve was -4.2bps flatter. So the market seems to believe the more hawkish the Fed gets the more likely they’ll control inflation and/or choke the recovery. The puzzle is that even if the dots are correct, real Fed funds should still be negative and very accommodative historically for all of the forecasting period. As such the market has a very dim view of the ability of the economy to withstand rate hikes or alternatively that the QE technicals are overpowering everything at the moment. In equities, the S&P 500 was up nearly +1.0% 15 minutes prior to the Fed, and then rallied a further 0.5% in the immediate aftermath before a late dip look it back to +0.95%. The late dip meant that the S&P still has not seen a 1% up day since July 23. The index’s rise was driven by cyclicals in particular with energy (+3.17%), semiconductors (-2.20%), and banks (+2.13%) leading the way. Asian markets are mostly trading higher this morning with the Hang Seng (+0.69%), Shanghai Comp (+0.58%), ASX (+1.03%) and India’s Nifty (+0.81%) all up. The Kospi (-0.36%) is trading lower though and is still catching up from the early week holidays. Japan’s markets are closed for a holiday today. Futures on the S&P 500 are up +0.25% while those on the Stoxx 50 are up +0.49%. There is no new news on the Evergrande debt crisis however markets participants are likely to pay attention to whether the group is able to make interest rate payment on its 5 year dollar note today after the group had said yesterday that it resolved a domestic bond coupon by negotiations which was also due today. As we highlighted in our CoTD flash poll conducted earlier this week, market participants are not too worried about a wider fallout from the Evergrande crisis and even the Hang Seng Properties index is up +3.93% this morning and is largely back at the levels before the big Monday sell-off of -6.69%. Overnight we have received flash PMIs for Australia which improved as parts of the country have eased the coronavirus restrictions. The services reading came in at 44.9 (vs. 42.9 last month) and the manufacturing print was even stronger at 57.3 (vs. 52.0 last month). Japan’s flash PMIs will be out tomorrow due to today’s holiday. Ahead of the Fed, markets had continued to rebound from their declines earlier in the week, with Europe’s STOXX 600 gaining +0.99% to narrowly put the index in positive territory for the week. This continues the theme of a relative outperformance among European equities compared to the US, with the STOXX 600 having outpaced the S&P 500 for 5 consecutive sessions now, though obviously by a slim margin yesterday. Sovereign bonds in Europe also posted gains, with yields on 10yr bunds (-0.7bps), OATs (-1.0bps) and BTPs (-3.2bps) all moving lower. Furthermore, there was another tightening in peripheral spreads, with the gap in Italian 10yr yields over bunds falling to 98.8bps yesterday, less than half a basis point away from its tightest level since early April. Moving to fiscal and with Democrats seemingly unable to pass the $3.5 trillion Biden budget plan by Monday, when the House is set to vote on the bipartisan infrastructure bill, Republican leadership is calling on their members to vote against the bipartisan bill in hopes of delaying the process further. While the there is still a high likelihood the measure will eventually get passed, time is becoming a factor. Congress now has just over a week to get a government funding bill through both chambers of congress as well as raise the debt ceiling by next month. Republicans have told Democrats to do the latter in a partisan manner and include it in the reconciliation process which could mean that a significant portion of the Biden economic agenda – mostly encapsulated in the $3.5 trillion over 10 year budget – may have to be cut down to get the entire Democratic caucus on board. Looking ahead, an event to watch out for today will be the Bank of England’s policy decision at 12:00 London time, where our economists write (link here) that they expect no change in the policy settings. However, they do expect a reaffirmation of the BoE’s updated forward guidance that some tightening will be needed over the next few years to keep inflation in check, even if it’s too early to expect a further hawkish pivot at this stage. Staying on the UK, two further energy suppliers (Avro Energy and Green Supplier) ceased trading yesterday amidst the surge in gas prices, with the two supplying 2.9% of domestic customers between them. We have actually seen a modest fall in European natural gas prices over the last couple of days, with the benchmark future down -4.81% since its close on Monday, although it’s worth noting that still leaves them up +75.90% since the start of August alone. There wasn’t much data to speak of yesterday, though US existing home sales fell to an annualised rate of 5.88 in August (vs. 5.89m expected). Separately, the European Commission’s advance consumer confidence reading for the Euro Area unexpectedly rose to -4.0 in September (vs. -5.9 expected). To the day ahead now, the data highlights include the September flash PMIs from around the world, while in the US there’s the weekly initial jobless claims, the Chicago Fed’s national activity index for August, and the Kansas City fed’s manufacturing activity index for September. From central banks, there’ll be a monetary policy decision from the Bank of England, while the ECB will be publishing their Economic Bulletin and the ECB’s Elderson will also speak. From emerging markets, there’ll also be monetary policy decisions from the Central Bank of Turkey and the South African Reserve Bank. Finally in Germany, there’s an election debate with the lead candidates from the Bundestag parties. Tyler Durden Thu, 09/23/2021 - 08:13.....»»

Category: blogSource: zerohedge2 hr. 13 min. ago

Crypto billionaire Mike Novogratz says bitcoin holding at $40,000 shows the market is in good shape - and recommends buying the dip

Mike Novogratz said investors are still very interested in crypto and that he's not nervous about the recent sell-off. Mike Novogratz is one of the biggest names in crypto. Photo by John Lamparski/Getty Images Mike Novogratz said bitcoin bouncing off $40,000 is a good sign for the crypto market. He said he's not worried about the recent sell-off and that it's a "buy-the-dip" opportunity. Bitcoin and ether fell sharply on Monday as the Evergrande crisis rattled financial markets. See more stories on Insider's business page. Billionaire crypto investor Mike Novogratz has said bitcoin holding firm at $40,000 during the recent sell-off is a good sign for the market, and recommended buying the dip in digital assets.Speaking after cryptocurrencies sold off sharply at the start of the week, Novogratz told CNBC earlier this week that he thought the market remained in good shape. Cryptocurrency prices rallied on Thursday, with bitcoin and ether rising along with altcoins."We held $40,000 overnight in bitcoin and $2,800 in ethereum. I think those are very important levels for people to watch. As long as those hold a think the crypto market is in good shape," he said.Bitcoin rallied 5% to $44,159 on Thursday, according to Coinmarketcap, while ether - the cryptocurrency on the ethereum network - rose 6.4% to $3,122.Yet both remain considerably lower than on Monday, when bitcoin stood above $47,000 and ether was above $3,300. They fell sharply on Monday, with bitcoin testing $40,000 on Tuesday, as worries about Chinese property developer Evergrande shook markets, causing investors to ditch riskier assets.Read more: 3 altcoins to buy: a crypto consultant explains why ether could surge to $15,000 and flip bitcoin, and criticizes one token as an overvalued 'joke'Novogratz said he's not nervous about the declines, however, and said he thinks it's a "buy-the-dip" situation.The crypto billionaire, a former hedge fund boss who founded the digital assets investment firm Galaxy, said he's seeing lots of engagement and activity in the crypto market. He pointed to SoftBank's participation in a $680 million funding round for sports NFT marketplace Sorare.Novogratz said he thought Monday's sell-off was also driven by concerns about regulation in the US. "The market got itself a little too long," he said.Read the original article on Business Insider.....»»

Category: topSource: businessinsider3 hr. 57 min. ago

Global stocks and cryptocurrencies rally after the Fed provides clarity on tapering, while Evergrande fears subside for now

Stock markets were unfazed by the Federal Reserve saying it was likely to cut back its bond purchases soon - which most analysts read as November. Fed boss Jerome Powell said the central bank is likely to start tapering soon. Sarah Silbiger/Getty Images Global stocks and cryptocurrencies rallied Thursday after the Federal Reserve gave more details on its tapering plan. Analysts broadly said they expect the Fed to cut back bond purchases in November, with some scope for a delay. Fears about Chinese property developer Evergrande cooled, but an offshore $83.5 million interest payment loomed on Thursday. See more stories on Insider's business page. Global stocks and cryptocurrencies rose Thursday after the Federal Reserve provided more clarity on its plan for the withdrawal of stimulus, while fears around indebted Chinese property developer Evergrande cooled for the time being.S&P 500 futures were up 0.74% at 4.50 a.m. ET, after the index snapped a four-day losing streak to close 0.95% higher Wednesday. Dow Jones futures advanced 0.71%, while Nasdaq 100 futures also put on 0.71%, signaling gains when markets open later in the day.Asian stocks advanced overnight as worries receded about risks to the wider financial system from an Evergrande debt default. China's CSI 300 index of Shanghai and Shenzhen-listed stocks rose 0.65%, while Hong Kong's Hang Seng climbed 1.01%.In Europe, the pan-continental Stoxx 600 climbed 1.02% in early trading, while London's FTSE 100 gained 0.48%.Cryptocurrencies rallied across the board after tumbling along with stocks earlier in the week. Bitcoin was up 1% to $43,891, according to Bloomberg prices. Ether, cardano, binance coin and other altcoins all rose more sharply.Stocks climbed after the US Federal Reserve, the world's most powerful central bank, on Wednesday heavily suggested that it would start cutting back on its bond purchases from November, and finish the job by the middle of 2022. Some Fed policymakers also said they'd like to see interest rates start rising as soon as next year.Analysts said markets were reassured that Fed Chair Jerome Powell left the door open to maintaining stimulus if the US economy needs it, and by his cautious approach to movement on interest rates.Jim O'Sullivan, chief US macro strategist at TD Securities, said Powell gave an "unambiguous" signal that the Fed would start tapering bond purchases in November. O'Sullivan said he doesn't expect it to start hiking interest rates until 2023.Neil Wilson, chief market analyst at trading platform Markets.com, said: "Jay Powell continues to walk the line between guiding the market to expect tightening without unduly worrying investors."Read more: Meet the 8 strategists calling for a stock market correction by the end of the year as Wall Street turns bearish. Here are their key concerns and top recommendations for positioning against a market meltdown.Still in focus for investors is the $300 billion debt crunch faced by Evergrande, China's second-biggest property developer. Fears the company could collapse and send shockwaves across the global economy helped push US stocks to their worst losses since May on Monday.Yet those concerns were easing somewhat, after Evergrande unit Hengda said it had "resolved" an onshore interest payment via negotiation and the company reassured retail investors that they were a top priority. China's injection of 90 billion yuan ($13.9 billion) into the banking system also bolstered those hoping Beijing would step in to contain any shocks.Shares in Evergrande jumped 17.62% on Thursday, although they remain more than 80% lower for the year.But the property developer is still seen as in perilous position, and investors are closely watching a key test for Evergrande Thursday, when an $83.5 million interest payment on an offshore bond is due.The US bond market was little changed after the Fed meeting, a sign that the central bank hadn't ruffled feathers. The yield on the key 10-year US Treasury note was roughly flat at 1.336% on Thursday. Yields move inversely to prices.Oil prices continued to rise as the global economy reopened and supplies tightened. Brent crude was up 0.12% to $76.29, while WTI crude was 0.1% higher at $72.28 a barrel.Read the original article on Business Insider.....»»

Category: topSource: businessinsider4 hr. 57 min. ago

ALTCOINS TO BUY: Crypto experts share the best investing opportunities they"re seeing outside of bitcoin

Insider has talked to several experts about which altcoins they like most, why they're bullish, and what they recommend others should be buying now. In this photo illustration of the litecoin, ripple and ethereum cryptocurrency 'altcoins' sit arranged for a photograph Jack Taylor/Getty Image Thousands of cryptocurrencies now exist. It can be difficult to pick winners in such a saturated space. Insider has asked several experts about where they see the biggest opportunities in altcoins. See more stories on Insider's business page. Cryptocurrencies have exploded in popularity over the last several months. Of course, the most popular remains bitcoin.But some other smaller cryptos are gaining serious steam as well, as the concept of digital currencies continues to seep into the public consciousness.However, it can be difficult to know which cryptocurrencies to invest in, or whether you should in the first place. There are currently thousands of different types of coins on the market. And some - like dogecoin, which was founded as a joke - don't appear to be serious. Others, like some built on the Ethereum blockchain, appear to have better use cases. And overall, there are legitimate concerns over whether the altcoin boom is unsustainable and will soon come crashing down.Crypto is an esoteric domain - its intricacies can be difficult to understand, especially for those new to the space.To help cut through the noise, Insider has talked to several experts about which altcoins - cryptocurrencies other than bitcoin - they believe have the best upside. These experts also described the fundamentals and technicals that make these altcoins attractive. Their views are shared in the articles below.imghed with link and appendage blurb Coach JV, crypto investor and founder of 3T Warrior Academy. Coach JV 4 altcoins to buy: A 12-year banking veteran says the biggest generational wealth transfer that's about to take place will trigger a 'parabolic' bull run in crypto. He explains how he's maximizing gains on the cryptos he's holding.John Vasquez quit a 12-year banking career to dive into crypto full-time.He's betting that the massive wealth transfer from baby boomers to their younger heirs will lead to a crypto boom.Vasquez, known as Coach JV on social media, explained what people should know about crypto before investing and the altcoins he's buying. Adrian Zduńczyk. Adrian Zduńczyk 5 altcoins that could surge 10-100x in the coming 'legendary' altcoin season that outshines bitcoin, according to a crypto technical analyst who's holding themCrypto technical analyst Adrian Zduńczyk says some altcoins due to outperform bitcoin in a "legendary" way. Zduńczyk is the founder and CEO of the Birb Nest, a trading platform. He shared five altcoins with us that he thinks could surge 10-100 times. Matthew Sigel is the head of digital assets research at VanEck. VanEck The head of digital assets research at an $81 billion money manager breaks down 3 drivers fueling the $2 trillion crypto market's latest bull run - and shares 3 competing altcoins to ethereum, including one that could nearly double in the next yearEthereum is the second-biggest cryptocurrency at the moment, sitting behind bitcoin. But it has problems like expensive transaction fees. Matthew Sigel, head of digital asset research at VanEck, shares three altcoins to rival ether. Evergrande is China's second-biggest property developer. Noel Celis/Getty Images A trader who warned of the 2017 and 2021 bitcoin bull market tops shares 4 altcoins he's bullish on for the long-term - but breaks down why Evergrande's crisis is keeping him away from crypto at the momentThe looming debt crisis of Chinese real estate developer Evergrande sent shockwaves through global equity markets in September - and crypto was not spared.Given the recent sell-offs, Goodman said he was keeping his money on the sidelines in the crypto space until prices appear to be in an uptrend again. He shared four projects he thinks can do well in the longer-term. STR/NurPhoto via Getty Images Bitcoin is ready for a 'monster run' up to $85,000 if it clears a key resistance level, a crypto evangelist predicts - and shares 7 altcoins he's bullish on nowEthereum's major upgrade in early August led to a 9.6% intraday price spike, and investors haven't yet sold the positive news. That's one reason why David Gokhshtein is bullish. He also told us his theses for six smaller altcoins he owns. A local business in El Salvador that accepts bitcoin payments. Alex Pena/Anadolu Agency via Getty Images Why crypto crashed: 4 experts break down what Tuesday's sudden drop might mean for the altcoin season and NFT frenzy - and share 12 high-quality tokens that are likely to continue rallying toward the year's endVarious cryptos tumbled on Tuesday September 7 as El Salvador officially adopted bitcoin as legal tender. By the following morning, more than $3.25 billion in crypto positions had been liquidated over 24 hours, affecting more than 300,000 traders, according to Bybit. We asked experts what was driving the sell-off, and where they recommended buying dips. Dogecoin is a 'meme' cryptocurrency, seemingly created as a joke Yuriko Nakao/Getty The chief economist of a blockchain data firm breaks down why the current dogecoin rally has more legs to run - and lays out why 'anything is possible' for the altcoin, including reaching $1When dogecoin rose over 12,000% to $0.68 earlier this year, it shocked the investing community. It has since cooled off, though its price has picked up in recent weeks. It now sits around $.027. What will it do next? Chainalysis chief economist Philip Gradwell broke down why he think it will go to $1. crypto coins circle Nurphoto WATCH: Crypto analyst David Grider and venture capital investor Ria Bhutoria discuss state of the market, under-the-radar altcoins, and outlook on regulationInsider recently hosted a live webcast featuring two crypto experts. They broke down their views on everything from the recent slump to the possibility of regulation. Lyn Alden is the founder of Lyn Alden Investment Strategy Lyn Alden Investment Strategy Bitcoin to $100,000 and ether to $5,000: Famed investment strategist Lyn Alden explains her bullish predictions for the largest cryptos in 2022, and why there are only 2 altcoins worth watchingLyn Alden says most altcoins are "smoke and mirrors." But there are at least two with interesting technologies that are worth watching. Marnie Griffiths/Getty A crypto evangelist explains why he's going 'all in on altcoins' - and shares why he's worried about bitcoin whales taking over that marketAs some altcoins have shown, there is potential for huge appreciation in crypto outside of bitcoin. David Gokhshtein is one investor that's looking to take advantage of these opportunities. He shared two altcoins he's bullish on. Mack Lorden, left, and Lucas Dimos are TikTok crypto influencers. Mack Lorden and Lucas Dimos 2 crypto traders and TikTok influencers share their 6 go-to altcoins for riding out crypto bear markets - including one that's up more than 11,000% since its launch in 2017The broader crypto space just went through a rough patch after huge gains earlier this year. Like any asset class, it has its bull and bear markets. When crypto bear markets do come, crypto influencers Mack Lorden and Lucas Dimos told us that six altcoins in particular help them hedge losses. Many investors are excited about the Ethereum network's uses. SOPA Images/Getty Images The head of institutional coverage at crypto trading platform FalconX shares 9 Ethereum-tied digital tokens to take advantage of the DeFi revolution - and breaks down why Ethereum still has 'significant' upsideMany altcoins are built on top of the Ethereum blockchain. Aya Kantorovich, the head of institutional coverage at crypto exchange FalconX, shared nine coins built on top of the ethereum blockchain that she thinks have solid use cases."I personally always like coins with application," Kantorovich said.Read the original article on Business Insider.....»»

Category: worldSource: nyt21 hr. 57 min. ago

Stitch Fix (SFIX) Gains on Q4 Earnings Beat, Revenues Rise Y/Y

Stitch Fix (SFIX) delivers an earnings surprise as well as impressive revenues for fourth-quarter fiscal 2021 on solid performance across its business, mainly in Women's, Kids and the UK. Shares of Stitch Fix, Inc. SFIX climbed more than 16% in after-hours trading on Sep 21 post the announcement of better-than-expected earnings and revenue results for fourth-quarter fiscal 2021. Both metrics compared favorably with the year-earlier quarter’s tallies as well. Robust performance across its business in Women’s, Kids and the UK aided its overall results. Management highlighted that the company crossed revenues of $2 billion, annually, in fiscal 2021 for the first time. Net revenues also grew 22.8% from the last fiscal year’s figure to $2.1 billion.Stitch Fix has been enriching its client experience across Fix and direct buy (currently known as Freestyle). It came up with several feature upgrades including expanded branded shops and launched Fix Preview for the Men’s and Women’s clients. Management is also focused on expanding the company’s product offerings and driving awareness of Stitch Fix for personalized shopping.Shares of Stitch Fix have increased 54% in the past year compared with the industry’s 72.1% rally.Q4 DetailsAfter witnessing losses in the preceding two quarters, Stitch Fix posted a surprise profit in the fourth quarter of fiscal 2021. The company posted earnings of 19 cents a share. The Zacks Consensus Estimate was of a loss of 14 cents per share. The bottom line also compared favorably with the loss of 44 cents per share reported in the prior-year quarter.The company recorded net revenues of $571.2 million, reflecting an increase of 29% from the year-ago quarter’s figure. The metric also outpaced the Zacks Consensus Estimate of $548 million. Continued strength across Women’s Fix, outsized growth in Kids and the UK, and an advancement in the Freestyle channel fueled the top-line performance. The company witnessed progress in both the fixed and direct buy offering. Robust demand trends and a solid momentum in its fundamentals also contributed to the performance.Stitch Fix, Inc. Price, Consensus and EPS Surprise Stitch Fix, Inc. price-consensus-eps-surprise-chart | Stitch Fix, Inc. QuoteStitch Fix witnessed strength in product categories. Footwear delivered a higher percentage of revenues for Freestyle than for Fix across women’s and men’s sections.Stitch Fix has active clients of 4,165,000 as of Jul 31, 2021, up 18% from the prior-year quarter’s level. Net revenue per active client jumped nearly 4% year over year to $505. The company experienced positive trends in client engagement and retention with keep rates touching all-time highs and client churn rates closing the year at all-time lows.In the fiscal fourth quarter, gross profit surged 33.4% to $265.5 million. Also, gross margin increased 160 basis points (bps) to 46.5% on elevated product margins and lower transportation costs through efficiency gains in spite of supply-chain issues and higher carrier freight rates.Selling, general and administrative (SG&A) expenses increased 14.7% to $244.7 million. Excluding advertising, other SG&A as a rate of sales decreased 110 bps to 37.2%. The company reported an adjusted EBITDA of $55.4 million in the quarter under review, significantly up from the adjusted EBITDA of $11.8 million reported in the year-ago quarter. The upside was driven by higher revenues along with robust gross margins on higher product margins and efficiency in transportation costs.Other Financial AspectsStitch Fix ended the quarter with no debt along with cash and cash equivalents of $129.8 million and shareholders’ equity of $460.8 million.This currently Zacks Rank #4 (Sell) company used $15.7 million cash from operating activities during fiscal 2021. Also, it reported a negative free cash flow of $50.9 million for the same period.Things to NoteThe company’s Plus offering delivered 51% revenue growth in fiscal 2021. Its Plus penetration presently represents nearly half the penetration of the overall women’s market. The UK business also registered triple-digit revenue growth this fiscal with a solid client base and higher unit economics. Kids’ unit is also growing rapidly with revenues exceeding 75% in fiscal 2021.Management is on track with a significant transformation of its business in several areas including the expansion of Shop to the existing client base, the launch and scale of Fix Preview, and investments in systems and people.Management is constantly leveraging its product innovation, evolving assortments and using personalized experience to gain more clients. The expansion of personalized direct purchases for the clients is also impressive. In fiscal 2022, management looks to enhance and broaden its Freestyle offering in several ways.In a separate press release, the company announced the launch of Stitch Fix Freestyle, which offers quite a distinct shopping experience. This platform allows any customer to discover and buy curated items according to their style preferences, fit and size. Anyone can buy items directly from Stitch Fix, irrespective of ordering a Fix first. This facility offers an effective way to shop articles from a wider range of accessible categories and departments, brands and seasonal trending shops. This caters to customer style needs across casual, workwear, occasion, active, athleisure, loungewear, sleepwear and more.Stitch Fix Freestyle boasts a variety of unique and new features including Trending for You, Complete Your Looks, Featured Brands, Shop by Department among others. This looks to offer brands like Free People, Universal Standard, Vince, Madewell, Mother, Rag & Bone, The North Face, Club Monaco, Girlfriend Collective. Management looks forward to introduce styles from new brands like Adidas, Good American, Vans, Levis, DKNY and Champion.OutlookFor the first quarter of fiscal 2022, Stitch Fix expects net revenues in the range of $560-$575 million, suggesting growth of 14-17% from the year-ago period’s reported figure. Adjusted EBITDA is envisioned in the bracket of 15-20 million with a margin of 2.7-3.5%. The Zacks Consensus Estimate for quarterly revenues is currently pegged at $598.8 million.For fiscal 2022, management projects net revenue growth of 15% or higher from the year-ago reported figure and an adjusted EBITDA margin at 2% or more of net revenues.Hot Stocks in RetailCapri Holdings CPRI has a long-term earnings growth rate of 27.2% and a Zacks Rank #1 (Strong Buy), currently. You can see the complete list of today’s Zacks #1 Rank stocks here.Abercrombie ANF presently has a long-term earnings growth rate of 18% and a Zacks Rank of 1.Children’s Place PLCE boasts a long-term earnings growth rate of 8% and is Zacks #1 Ranked at present. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Abercrombie & Fitch Company (ANF): Free Stock Analysis Report The Childrens Place, Inc. (PLCE): Free Stock Analysis Report Stitch Fix, Inc. (SFIX): Free Stock Analysis Report Capri Holdings Limited (CPRI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks22 hr. 57 min. ago

Pamper yourself at these 10 hotel spas in the US, from Arizona"s hot springs to New York"s Finger Lakes

We found the best hotels with spas in the US for self-care, from restorative treatments to guided meditation and holistic wellness. When you buy through our links, Insider may earn an affiliate commission. Learn more. Aman Resorts A getaway to de-stress sounds more enticing than ever. Many hotels have incredible spas rooted in helping you relax; some of the best are in the US. The best hotels with spas range from $97 to well over $1,000 - no passport required. Table of Contents: Masthead StickyMany of us are looking to finally return to travel with a focus on much-needed wellness. Fortunately, the US offers some of the best destination spas on the planet in hotels housed everywhere from urban oases in major metros to remote retreats nestled on beaches and islands.As a travel writer with an emphasis on luxury, I've experienced hotels with spas that are simply otherworldly. My top picks boast expansive facilities with soothing designs, innovative technologies, and holistic approaches like meditation and acupuncture. If you're ready to invest in some serious self-care, keep reading for the best hotels with spas in the US. Though, if you're looking for something more far-flung while keeping to a budget, we also rounded up the most affordable hotel spas around the world.Browse all the best hotels with spas below, or jump directly to a specific area here:The best hotels with spas in the USFAQ: Hotels with spasHow we selected the best hotels with spasMore of the most incredible hotelsThese are the best hotels with spas in the US, sorted by price from low to high. Resorts World Las Vegas Resorts World Las Vegas opened in June as the first integrated complex to go up on the Strip in over a decade. Tripadvisor Book Resorts World Las VegasCategory: BudgetLocation: Las Vegas, NevadaTypical starting/peak price: $97/$263Best for: Families, couples, groups of friends, solo travelers, business travelersOn-site amenities: An enormous slate of dining, entertainment, nightlife, and retail options, plus pools, spa, fitness center, casinoSpa features: The theatrical Art of Aufguss experience (the first of its kind in the US), Fountain of Youth experience with six vitality pools, foot spa lounge, bodywork, facialsPros: As the newest full-scale resort-casino property on the strip, Resorts World is a buzzy new option with a full suite of amenities in addition to the next-level spa.Cons: Although it's the newest, this isn't the poshest hotel in Vegas compared with pricier, more upscale resorts with tricked-out guest rooms.The Strip's newest integrated resort (that is, a major resort property that includes a hotel, casino, entertainment, convention facilities, retail, and more) comes with a unique and Vegas-worthy spa experience: Awana Spa. The spa offers an experience not available anywhere else in the country, known as the Art of Aufguss. This unique treatment-slash-show within the spa was inspired by European saunas that provide rejuvenation and socializing with the communal goal of wellness. The spa showcases a theater-inspired heated room with aromatherapy, choreographed music, lighting, and dancing towels, and it's as avant garde as it is relaxing. Here, each "sauna meister" curates a 30-minute themed experience.The Fountain of Youth is an experience within the spa that houses a network of six vitality pools, heated crystal laconium room, tepidarium chairs, vapor-filled steam rooms, cool mist showers, and an experiential "rain walk." The huge co-ed facility features LED screens and immersive experiences that change throughout the day; when the projection transports guests to various picturesque destinations, the room's temperature and other details change to match the displayed setting. The spa also offers traditional facials and body work, and has a foot spa lounge. Resorts World is the first complex like it to be built on the Las Vegas Strip in more than a decade. The $4.3 billion property has 3,500 guest rooms and suites, gaming, more than 40 food and beverage options, and nightlife. Through its partnership with Hilton, the development includes the Las Vegas Hilton, Conrad Las Vegas, and Crockfords Las Vegas. COVID-19 procedures are available here. Inns of Aurora Inns of Aurora is a luxury lakeside boutique resort in the Finger Lakes with a 15,000-square-foot spa. Inns of Aurora Book Inns of AuroraCategory: BoutiqueLocation: Aurora, New YorkTypical starting/peak price: $187/$360Best for: Families, couples, groups of friends, business travelersOn-site amenities: Multiple dining options, spa, activity center, meeting and event spaceSpa features: Indoor and outdoor hydrotherapy pools, meditation spaces, 10 treatment rooms (4 with fireplaces), inclusive gender-neutral spacesPros: The location is dreamy and remote with stunning lake views, and the spa is new and expansive.Cons: While most reviews are overwhelmingly positive, some critical reviewers noted there were limited food options.Founded in 1789, the Village of Aurora is a tiny, serene village in New York's pristine Finger Lakes region. Set on 350 acres of rolling farmland overlooking the lake, the property has five inns in all. Entry-level accommodations at the Aurora Inn have luxurious Queen beds outfitted in Frette linens, a comfortable seating area, and a writer's desk. Balconies with rocking chairs add charm in warmer months, as do gas fireplaces in the cooler ones.Known for its extensive wellness offerings, the Inns of Aurora has a 15,000-square-foot spa and healing center, The Spa at the Inns of Aurora, which takes a holistic approach to wellness. Indoor and outdoor spaces offer views of Cayuga Lake and there are six indoor and outdoor hydrotherapy pools, multiple meditation spaces, 10 treatment rooms (four outfitted with warming fireplaces), and inclusive gender-neutral spaces, along with unobstructed access to lush lavender fields for outdoor massages and relaxing strolls among nature trails. COVID-19 procedures are available here. Carillon Miami Wellness Resort At 70,000 square feet, Carillon Miami Wellness Resort is the largest spa center on the Eastern seaboard. Tripadvisor Book Carillon Miami Wellness ResortCategory: LuxuryLocation: Miami, FloridaTypical starting/peak price: $298/$625Best for: Couples, groups of friendsOn-site amenities: Multiple dining options, spa, wellness activities, fitness classes, beach clubSpa features: 70,000-square-foot Finnish spa and wellness facility with vitality tub, steam room, foot spa, cooling "igloo" room, experiential rain showers, thermal loungers, salt float bathPros: The spa has every treatment you could imagine, including innovative and high-tech approaches. Apartment-style lodgings are large and offer homey comfort.Cons: Critical reviews say the rooms are due for a sprucing.Located on the white sands of Miami Beach, Carillon Miami Wellness Resort is the only fully dedicated wellness resort in South Florida. Indeed, the 70,000-square-foot spa is the largest on the Eastern seaboard.Everything about staying here is plush, starting with well-appointed, apartment-sized accommodations that range from one- to two-bedroom layouts, starting at 720 square feet. They feature floor-to-ceiling windows with ocean views, a separate living room, a fully equipped kitchen, and a spa-like bathroom.Wellness offerings are abundant, including a range of ultra-high-tech services and amenities such as a futuristic cabin with a height-adjustable water bed, heated water mattress, color therapy, steam bath with aromatherapy, Vichy shower with six jets, and Vibro massage.​​Carillon also recently launched a touchless wellness program meant to target a range of issues like sleep health, anxiety, muscle recovery, weight loss, respiratory health, and mental and spiritual wellness.Come here to indulge with a one-of-a-kind thermal therapy experience, or sweat it out in 65 fitness classes held each week. Traditional Chinese medicine and a medical wellness division are also offered. Just note that spa treatments are not included in the room rate.COVID-19 procedures are available here. Peninsula Chicago Peninsula Chicago has 339 guest rooms and a sleek spa with an indoor pool. The Peninsula Chicago Book Peninsula ChicagoCategory: LuxuryLocation: Chicago, IllinoisTypical starting/peak prices: $399/$720Best for: Families, couples, groups of friends, business travelers On-site amenities: Multiple restaurants, rooftop lounge, spa, fitness center, pool, event venuesSpa features: Rejuvenation lounge with fireplace, yoga room, fitness center, half-Olympic poolPros: Peninsula Chicago is known for its top-end service, luxurious accommodations, and supremely walkable location on Chicago's Michigan Mile.Cons: Among mostly glowing reviews, few critical guests expressed higher hopes for the property given other experiences with the Peninsula brand.Located on the Magnificent Mile in the heart of Chicago's premier shopping district, this 339-guest room hotel features three restaurants, a rooftop lounge, and glam rooms. Even the entry-level guest rooms are some of the most spacious accommodations in town. Facing south over Superior Street, the Superior rooms are bright and airy with sophisticated decor in muted earth tones and signature blues alongside rich wood and cream leather accents.The Peninsula Chicago's spa is an exquisite urban retreat, with an indoor half-Olympic length swimming pool surrounded by floor-to-ceiling windows for jaw-dropping views of the city from the 19th floor.This Peninsula Chicago spa is the first hotel spa destination in the city to offer ultra-posh treatments using the famously expensive and splurge-worthy Biologique Recherche. There's also a relaxation lounge with a fireplace, a fully-equipped fitness center, and a yoga room. COVID-19 procedures are available here. Lake Austin Spa Resort Lake Austin Spa Resort covers 19 lakefront acres for a wellness getaway that feels a world away. Tripadvisor Book Lake Austin Spa ResortCategory: LuxuryLocation: Austin, TexasTypical starting/peak prices: $525/$1,450Best for: Couples, groups of friends, solo travelersOn-site amenities: Spa, pool, restaurant, boutique, fitness center, water sportsSpa features: Aster Café, private couples suites, more than 100 treatments and services, day passesPros: Room rates are all-inclusive, meaning your overnight price comes with three gourmet meals per day and all the fitness classes you can handle.Cons: The all-inclusive rate isn't totally all-encompassing as spa treatments are not included.Located 30 minutes from downtown Austin and speak on 19 lakefront acres, the Lake Austin Spa Resort feels tucked far away from any urban bustle. As an all-inclusive resort, the majority of offerings are covered by the rate. While it doesn't include spa treatments, it does include three gourmet meals made from ingredients grown on-site each day, as well as morning yoga classes, water sports on the lake, and stargazing sessions with an astrologer. Think of this as an adult version of a summer camp, where the emphasis is on mindfulness and fitness.Overnight guests stay in one of 40 French country-style accommodations, which range from quaint rooms with private meditation gardens to the elaborate Lady Bird Suite with a private hot tub. Each comes with fresh-cut daily flowers, Veuve Clicquot champagne upon arrival, a De'Longhi Lattissima Pro Espresso Machine, and toiletries with the spa's signature lavender scent, created from plants grown on-site.The 25,000-square-foot LakeHouse Spa offers fresh, seasonal dining at Aster Café, private couples suites, and a range of treatments using ancient and modern therapeutic techniques in a serene setting. COVID-19 procedures are available here. The Ritz-Carlton Bacara, Santa Barbara The Ritz-Carlton Bacara in Santa Barbara has the largest spa of any Ritz-Carlton in the country. Tripadvisor Book The Ritz-Carlton Bacara, Santa BarbaraCategory: LuxuryLocation: Santa Barbara, CaliforniaTypical starting/peak prices: $779/$1,379Best for: Couples, families, groups of friends, business travelersOn-site amenities: Pools, spa, multiple dining options, a 12,000-bottle wine collection and tasting room, event spaceSpa features: 42,000 square feet of indoor-outdoor space with fireside lounges, rooftop terrace, poolPros: The pools, beaches, and gardens here are all spectacular and the views can't be beaten. There is also a full suite of amenities and the service is exceptional.Cons: The large, sprawling property can pose a challenge for travelers with mobility issues.The Spa atThe Ritz-Carlton Bacara, Santa Barbara is a magnificent retreat, sprawling across 78 acres of lush land overlooking the Pacific. It has access to two beaches and offers three infinity-edge pools, two of which have gorgeous ocean views.Guest accommodations also have views of the sea, or the pool or garden from individual patios or balconies, and entry-level rooms start at a generous 450 square feet. The design is coastal, with dark woods and beams, Frette linens, deep soaking tubs, marble showers, and Asprey bath amenities. Newly debuted fireside garden rooms offer patios with private fire pits.The spa, however, is the standout feature, a stunning 42,000-square-foot sanctuary — and the largest out of all the Ritz-Carlton properties in the country. There are abundant indoor and outdoor spaces for relaxation, with fireside lounges, a rooftop terrace, a swimming pool, and more.The spa menu features locally inspired, luxury rituals that pay tribute to the scenic California landscape. For instance, the Hollywood facial is a decadent treatment integrating three of the industry's top-trending technologies: HydraFacialä, Nutraceuticals, and NuFace Microcurrent. Or branch out with the Spirulina Wrap, which uses live spirulina algae to revitalize the skin. Other services include acupuncture, massages, skincare, and hair and nail services.When it's time to eat, on-site restaurants Angel Oak steakhouse and 'O' Bar + Kitchen offer locally sourced cuisine and wines.COVID-19 procedures are available here. Castle Hot Springs Castle Hot Springs dates back to 1896 and was recently renovated. Tripadvisor Book Castle Hot SpringsCategory: LuxuryLocation: Morristown, ArizonaTypical starting/peak prices: $1,500/$2,100Best for: Couples, families, groups of friendsOn-site amenities: Resort pool, hot springs pools, on-property farm, Arizona's first Via Ferrata cable climbing courseSpa features: Multiple mineral pools, spa treatments in alfresco cabanas, yoga, meditationPros: Meals are included at this recently overhauled resort. Deeply steeped in history, it's all about wellness through local, natural means, such as an on-site farm operation and hot springs. Cons: While most reviews are overwhelmingly positive, critical reviewers noted spotty service compared with their expectation for the price point.Castle Hot Springs is Arizona's first luxury resort, originally founded in 1896 as a holistic wellness retreat. Situated 50 miles outside of Phoenix in the Sonoran Desert, the 34-room resort feels a world apart from the demands of urban life and incorporates ancient hot springs and a digital detox philosophy into every stay.Historically, visitors came for the minerals' cures for ailments like rheumatism, gout, arthritis, and general aches and pains, which the pools were said to relieve. More than 200,000 gallons of mineral-rich water still flow through the pools each day.All guest suites (bungalows, cottages, and cabins) feature outdoor stone tubs plumbed with hot springs water, and telescopes outside lodgings encourage stargazing. Wellness features heavily, with a slate of offerings including access to thermal waters, which cascade into three pools ranging from 96 degrees to 86 degrees. The natural waters take on colors that reflect the minerals running through them: Lithium is a deep purple shade, iron looks red, and oxidized copper is in blues and greens. Other wellness spa services, yoga, and meditation are provided in custom cabanas set along the spring water creek under palm trees for a wholly rejuvenating experience.COVID-19 procedures are available here. Miraval Arizona Resort & Spa Arizona's Miraval is known around the world as a go-to destination for wellness enthusiasts. Tripadvisor Book Miraval Arizona Resort & SpaCategory: LuxuryLocation: Tucson, ArizonaTypical starting/peak price: $1,138/$1,518Best for: Couples, groups of friends, solo travelersOn-site amenities: Spa, pool, fitness and wellness classes, tennis, golf, hiking on Camelback MountainSpa features: Ayurveda, energy work, traditional massage, acupuncture, multiple meditation spaces including two labyrinthsPros: Meals and activities are included, which packs the steep nightly room rate with value.Cons: Not everything is included. Expect to splash out a lot more for spa treatments and other extras. Situated on 400 acres outside Tucson, nestled in the Santa Catalina Mountains, Miraval is a well-established and world-renowned domestic wellness getaway.Guests are asked to unplug and tuck their devices away before checking into spacious suites that come with hot tubs, walk-in showers, fireplaces, dining areas, and private patios. Extra wellness-minded touches include an organic pillow menu, a Tibetan singing bowl, coloring books, a community journal, and an essential oil diffuser, available on request. Room rates also include a nightly credit, all meals, and more than 200 classes and activities. Spa treatments are not included, but shouldn't be missed at the Life in Balance Spa, which features a myriad of services including Ayurveda, energy work, traditional massage, and acupuncture.Many spaces on-site encourage reflection and meditation including two labyrinths, an outdoor kiva, and a designated quiet room with mountain views. Experiences here combine yoga, meditation, and wellness, with spiritual journeys, culinary workshops, and outdoor activities.COVID-19 procedures are available here. Four Seasons Resort Lanai and Sensei Lanai, A Four Seasons Resort Four Seasons Resort Lanai and Sensei Lanai offer wellness, activities, and natural beauty on the Hawaiian island. Tripadvisor Book Four Seasons Resort Lanai and Sensei Lanai, A Four Seasons ResortCategory: LuxuryLocation: Lanai, HawaiiTypical starting/peak prices: $1,700/$2,585Best for: Families (Four Seasons Resort Lanai only), couples, business travelers, groups of friends, solo travelers (Sensei Lanai)On-site amenities: Pools, gardens, wellness offerings, activities (including archery and shooting range), food and drink from celebrity chef Nobu Matsuhisa Spa features: Private spa hales with steam and infrared saunas, traditional Japanese soaking tubs, outdoor showers, pools, one-on-one healing sessions like guided meditation or nutrition, couples suites, locally inspired treatmentsPros: Wellness offerings here are unparalleled, especially at Sensei where it's the focus. Airfare from Honolulu on Lanai Air is always included with Sensei Lanai. The natural beauty and service are among the world's most impeccable. Cons: Kids are not permitted at Sensei Lanai, although they are doted upon at Four Seasons Resort Lanai.This secluded 90,000-acre paradise on Hawaii's island of Lanai offers luxe accommodations at the beachfront Four Seasons Resort Lanai or wellness destination, Sensei Lanai, A Four Seasons Resort.The Four Seasons Resort Lanai is perfectly luxe with 213 guest rooms, multiple outdoor restaurants (including Nobu Lanai), Four Seasons' Kids for All Seasons kids' club, a beach and pool with seating areas tucked among tropical gardens, luxury boutiques, and an array of included classes and events.But if wellness is on your mind, and you don't have kids in tow, choose the adults-only Sensei Lanai, A Four Seasons Resort instead, set on 24 acres where spa where wellness is the top priority.Visitors select a curated well-being experience or design their own a la carte itineraries from options that include guided sessions on mindset or nutrition, as well as spa treatments, salon services, and a range of land and sea activities. Daily small-group yoga, fitness, and meditation, as well as guided hikes and weekly lectures are included.The 96-room resort offers Chef Nobu Matsuhisa's classics as well as menu selections that incorporate Sensei's nutritional philosophy created in partnership with Sensei's co-founder Dr. David Agus. The outdoor facilities include a 24-hour fitness center, movement studios, a yoga pavilion and outdoor yoga spaces, an 18-hole putting course, onsen baths, an oasis pool with lap lanes, and gardens with lush flora as well as sculpture and art. COVID-19 procedures are available here. Amangiri Amangiri is the wellness favorite for celebrities and A-listers looking to recharge in the desert. TripAdvisor/emtrip27 Book AmangiriCategory: LuxuryLocation: Canyon Point, UtahTypical starting/peak prices: $1,931/$3,500Best for: Couples, familiesOn-site amenities: Restaurant, 25,000-square-foot Aman Spa, national park tours, private air toursSpa features: Redwood-paneled treatment rooms, movement and fitness studios, 2 steam rooms, yoga, pilates, holistic Navajo-inspired therapiesPros: Amangiri is surrounded by unparalleled natural beauty and privacy. The design and service are otherworldly, equally indulgent for adventurers and luxury lovers.Cons: Though this property is close to flawless, for the over-the-top price point, guests expect impeccable service and are hyper-aware of even the smallest shortcomings.Amangiri is a celeb-adored Utah property situated on 600 acres in a protected valley, famous for sweeping views over towering mesas and dramatically stratified rock facing Grand Staircase-Escalante National Monument. The resort is built around a spectacular swimming pool defined by a jaw-dropping stone escarpment. There are 34 suites, many with private swimming pools and roof terraces. Suites are large with clean lines and natural materials, reflecting the surrounding Utah desert. Think white stone floors, concrete walls, natural timbers, and blackened steel finishings. Each suite has a fireplace and an outdoor lounge area. The Wellness Center at Amangani is a relaxing retreat with four redwood-paneled treatment rooms, movement and fitness studios and two steam rooms. Book beauty treatments and restorative therapies inspired by the holistic wellbeing traditions of the Navajo, or sign up for a day of wildlife treks, a private yoga, or a pilates session. Nourishing treatments, seasonal rituals, and holistic massages are all designed to help you unwind. In 2021, the resort introduced the Cave Peak Stairway, an installation that rises 400 feet above the ground, for outrageous views of the property. Thrill-seekers can climb the 120 steps leading from the resort's existing Cave Peak Via Ferrata Trail with just open air below.COVID-19 procedures are available here. FAQ: Hotels with spas Can I use a hotel spa without staying overnight?Whether or not you may use a hotel spa without staying overnight depends on the individual hotel and its policies. In some cases, hotels restrict the use of their spas and pool facilities to guests only in order to keep the experience intimate and private. In other cases, non-overnight guests may pay for a day pass to access the facilities, either directly through the hotel or through a third-party platform such as ResortPass, or visit simply by booking a treatment.Does spa access always come with the cost of a room night?Staying at a hotel doesn't always guarantee spa entry. In some cases, such as Awana Spa in Las Vegas, the room night might cost as low as $97 but using the spa is not included in the price, and spa access starts at $100 for hotel guests. Access is included, however, with the purchase of a 50-minute or longer treatment. Most hotels on this list have similar policiesWhere are the best hotels with spas in the US?As demonstrated by this list, there are excellent destination hotel spas throughout the United States, from urban day spas to remote retreats. Many are clustered around destinations known for wellness, such as Arizona and California, or destinations known for healing natural environments, like Hawaii. Others are simply known for providing flat-out luxury to travelers with money to spend, such as in Miami or Las Vegas.Is it safe to stay in a hotel?The CDC advises that fully vaccinated people can safely travel domestically. While hotels do provide opportunities for face-to-face interactions with staff and other guests in common spaces like check-in desks, lobbies, and dining venues, experts say guests who exercise proper precautions can stay safely in hotels. No travel is completely risk-free and we recommend following CDC current guidelines as well as all applicable local protocols at the time of travel. How we selected the best hotels with spas Hotels with spas are located throughout the US only.Each has a Trip Advisor rating of "Very Good" or above with a substantial number of reviews, and is highly rated on other trusted traveler platforms like Booking.com.We focused on amenity-rich properties at a range of price points, starting from just $97 and ranging to well over $1,000 per night for famously posh properties with lavish inclusions.We looked for hotels with spas that had extensive offerings including innovative technologies and holistic wellness approaches. We also sought spas that were large and beautifully designed.In addition to spas, we selected properties with notable amenities like pools, restaurants, and other notable features. And we focused on desirable destinations, from flashy urban to serene natural settings.Each hotel promotes rigorous COVID-19 policies and protocols to reassure and protect guests. More of the most incredible hotels Tripadvisor The best luxury hotels in the USThe most affordable spa hotels in the worldThe best hotel pools in the USThe best hotels with private plunge poolsThe most romantic hotels in the USThe best hotels with affordable overwater bungalowsThe best beach hotels in the USThe best island hotels in the US Read the original article on Business Insider.....»»

Category: worldSource: nytSep 22nd, 2021

How Do You Get Inflation Under Control?

Raise the dollar, drop the metals. Under most possible scenarios, things don’t look good for gold, silver, and mining stocks – for the medium-term. Q2 2021 hedge fund letters, conferences and more The USD Index And U.S. Treasury Yields With the USD Index and U.S. Treasury yields the main fundamental drivers of the PMs’ performance, […] Raise the dollar, drop the metals. Under most possible scenarios, things don’t look good for gold, silver, and mining stocks – for the medium-term. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2021 hedge fund letters, conferences and more The USD Index And U.S. Treasury Yields With the USD Index and U.S. Treasury yields the main fundamental drivers of the PMs’ performance, some confusion has arisen due to their parallel and divergent moves. For example, sometimes the USD Index rises while U.S. Treasury yields fall, or vice-versa, and sometimes the pair move higher/lower in unison. However, it’s important to remember that different economic environments have different impacts on the USD Index and U.S. Treasury yields. To explain, the USD Index benefits from both the safe-haven bid (stock market volatility) and economic outperformance relative to its FX peers. Conversely, U.S. Treasury yields only benefit from the latter. Thus, when economic risks intensify (like what we witnessed with Evergrande on Sep. 20), the USD Index often rallies while U.S. Treasury yields often fall. Thus, the economic climate is often the fundamental determinant of the pairs’ future paths. For context, I wrote on Apr.16: The PMs suffer during three of four possible scenarios: When the bond market and the stock market price in risk, it’s bearish for the PMs When the bond market and the stock market don’t price in risk, it’s bearish for the PMs When the bond market doesn’t price in risk, but the stock market does, it’s bearish for the PMs When the bond market prices in risk and the stock market doesn’t, it’s bullish for the PMs Regarding scenario #1, when the bond market and the stock market price in risk (economic stress), the USD Index often rallies and its strong negative correlation with the PMs upends their performance. Regarding scenario #2, when the bond market and the stock market don’t price in risk, U.S. economic strength supports a stronger U.S. dollar and rising U.S, Treasury yields reduce the fundamental attractiveness of gold. For context, the PMs are non-yielding assets, and when interest rates rise, bonds become more attractive relative to gold (for some investors). Regarding scenario #3, when the stock market suffers and U.S. Treasury yields are indifferent, the usual uptick in the USD Index is a bearish development for the PMs (for the same reasons outlined in scenario #1). Regarding scenario #4, when the bond market prices in risk (lower yields) and the stock market doesn’t, inflation-adjusted (real) interest rates often decline, and risk-on sentiment can hurt the USD Index. As a result, the cocktail often uplifts the PMs due to lower real interest rates and a weaker U.S. dollar. The bottom line? The USD Index and U.S. Treasury yields can move in the same direction or forge different paths. However, while a stock market crash is likely the most bearish fundamental outcome that could confront the PMs, scenario #2 is next in line. While it may (or may not) seem counterintuitive, a strong U.S. economy is bearish for the PMs. When U.S. economic strength provides a fundamental thesis for both the USD Index and U.S. Treasury yields to rise (along with real interest rates), the double-edged sword often leaves gold and silver with deep lacerations. The Fed’s Monetary Policy Decision In the meantime, though, with investors eagerly awaiting the Fed’s monetary policy decision today, QE is already dying a slow death. Case in point: not only has the USD Index recaptured 93 and surged above the neckline of its inverse (bullish) head & shoulders pattern, but the greenback’s fundamentals remain robust. With 78 counterparties draining more than $1.240 trillion out of the U.S. financial system on Sep. 21, the Fed’s daily reverse repurchase agreements hit another all-time high. Please see below: Source: New York Fed To explain, a reverse repurchase agreement (repo) occurs when an institution offloads cash to the Fed in exchange for a Treasury security (on an overnight or short-term basis). And with U.S. financial institutions currently flooded with excess liquidity, they’re shipping cash to the Fed at an alarming rate. And while I’ve been warning for months that the activity is the fundamental equivalent of a taper  – due to the lower supply of U.S. dollars (which is bullish for the USD Index) – the psychological effect is not the same. However, as we await a formal taper announcement from the Fed, the U.S. dollar’s fundamental foundation remains quite strong. Furthermore, with the Wall Street Journal (WSJ) publishing a rather cryptic article on Sep. 10 titled “Fed Officials Prepare for November Reduction in Bond Buying,” messaging from the central bank’s unofficial mouthpiece implies that something is brewing. And while the Delta variant and Evergrande provide the Fed with an excuse to elongate its taper timeline, surging inflation has the Fed increasingly handcuffed. The Pace Of Tapering As a result, Goldman Sachs Chief U.S. Economist David Mericle expects the Fed to provide “advance notice” today and set the stage for an official taper announcement in November. He wrote: “While the start date now appears set, the pace of tapering is an open question. Our standing forecast is that the FOMC will taper at a pace of $15bn per meeting, split between $10bn in UST and $5bn in MBS, ending in September 2022. But a number of FOMC participants have called instead for a faster pace that would end by mid-2022, and we now see $15bn per meeting vs. $15bn per month as a close call.” On top of that, with stagflation bubbling beneath the surface, another hawkish shift could materialize. To explain, I wrote on Jun. 17: On Apr. 30, I warned that Jerome Powell, Chairman of the U.S. Federal Reserve (Fed), was materially behind the inflation curve. I wrote: With Powell changing his tune from not seeing any “unwelcome” inflation on Jan. 14 to “we are likely to see upward pressure on prices, but [it] will be temporary” on Apr. 28, can you guess where this story is headed next? And with the Fed Chair revealing on Jun. 16 what many of us already knew, he conceded: Source: CNBC Moreover, while Powell added that “our expectation is these high inflation readings now will abate,” he also conceded that “you can think of this meeting that we had as the ‘talking about talking about’ [tapering] meeting, if you’d like.” However, because actions speak louder than words, notice the monumental shift below? Source: U.S. Fed To explain, if you analyze the red box, you can see that the Fed increased its 2021 Personal Consumption Expenditures (PCE) Index projection from a 2.4% year-over-year (YoY) rise to a  3.4% YoY rise. But even more revealing, the original projection was made only three months ago. Thus, the about face screams of inflationary anxiety. Fall In The GDXJ ETF What’s more, I highlighted on Aug. 5 that the hawkish upward revision increased investors’ fears of a faster rate-hike cycle and contributed to the rise in the USD Index and the fall in the GDXJ ETF (our short position). Please see below: And why is all of this so important? Well, with Mericle expecting the Fed to increase its 2021 PCE Index projection from 3.4% to 4.3% today (the red box below), if the Fed’s message shifts from we’re adamant that inflation is “transitory” to “suddenly, we’re not so sure,” a re-enactment of the June FOMC meeting could uplift the USD Index and upend the PMs once again. For context, the FOMC’s July meeting did not include a summary of its economic projections and today’s ‘dot plot’ will provide the most important clues. Please see below: Finally, with CNBC proclaiming on Sep. 21 that the Fed is “widely expected to indicate it is getting ready to announce it will start paring back its $120 billion in monthly purchases of Treasuries and mortgage-backed securities,” even the financial media expects some form of “advance notice.” Source: CNBC The bottom line? While the Delta variant and Evergrande have provided the Fed with dovish cover, neither addresses the underlying problem. With inflation surging and the Fed’s 2% annual target looking more and more like wishful thinking, reducing its bond-buying program, increasing the value of the U.S. dollar, and decreasing commodity prices is the only way to get inflation under control. In absence, the Producer Price Index (PPI) will likely continue its upward momentum and the cost-push inflationary spiral will likely continue as well. In conclusion, the gold miners underperformed gold once again on Sep. 21 and the relative weakness is profoundly bearish. Moreover, while the USD Index was roughly flat, Treasury yields rallied across the curve. And while Powell will do his best to thread the dovish needle today, he’s stuck between a rock and a hard place: if he talks down the U.S. dollar (like he normally does), commodity prices will likely rise, and inflation will likely remain elevated. If he acknowledges reality and prioritizes controlling inflation, the U.S. dollar will likely surge, and the general stock market should suffer. As a result, with the conundrum poised to come to a head over the next few months (maybe even today), the PMs are caught in the crossfire and lower lows will likely materialize over the medium term. Thank you for reading our free analysis today. Please note that the above is just a small fraction of today’s all-encompassing Gold & Silver Trading Alert. The latter includes multiple premium details such as the targets for gold and mining stocks that could be reached in the next few weeks. If you’d like to read those premium details, we have good news for you. As soon as you sign up for our free gold newsletter, you’ll get a free 7-day no-obligation trial access to our premium Gold & Silver Trading Alerts. It’s really free – sign up today. Przemyslaw Radomski, CFA Founder, Editor-in-chief Sunshine Profits: Effective Investment through Diligence & Care All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits' associates only. As such, it may prove wrong and be subject to change without notice. Opinions and analyses are based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are deemed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski's, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice. 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Category: blogSource: valuewalkSep 22nd, 2021

Fast-paced Momentum Stock Ranger Energy (RNGR) Is Still Trading at a Bargain

If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Ranger Energy (RNGR) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen. Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.It could be safer to invest in bargain stocks that have been witnessing price momentum recently. While the Zacks Momentum Style Score (part of the Zacks Style Scores system), which pays close attention to trends in a stock's price or earnings, is pretty useful in identifying great momentum stocks, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.Ranger Energy (RNGR) is one of the several great candidates that made it through the screen. While there are numerous reasons why this stock is a great choice, here are the most vital ones:Investors' growing interest in a stock is reflected in its recent price increase. A price change of 4.4% over the past four weeks positions the stock of this company well in this regard.While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. RNGR meets this criterion too, as the stock gained 0.8% over the past 12 weeks.Moreover, the momentum for RNGR is fast paced, as the stock currently has a beta of 2.09. This indicates that the stock moves 109% higher than the market in either direction.Given this price performance, it is no surprise that RNGR has a Momentum Score of A, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped RNGR earn a Zacks Rank #2 (Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Most importantly, despite possessing fast-paced momentum features, RNGR is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. RNGR is currently trading at 0.86 times its sales. In other words, investors need to pay only 86 cents for each dollar of sales.So, RNGR appears to have plenty of room to run, and that too at a fast pace.In addition to RNGR, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.Click here to sign up for a free trial to the Research Wizard today. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ranger Energy Services, Inc. (RNGR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksSep 22nd, 2021

Peabody Energy (BTU) Is Attractively Priced Despite Fast-paced Momentum

Peabody Energy (BTU) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen. Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher."Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potential fails to justify their swelled-up valuation. In that phase, investors find themselves invested in shares that have limited to no upside or even a downside. So, betting on a stock just by looking at the traditional momentum parameters could be risky at times.A safer approach could be investing in bargain stocks with recent price momentum. While the Zacks Momentum Style Score (part of the Zacks Style Scores system) helps identify great momentum stocks by paying close attention to trends in a stock's price or earnings, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.Peabody Energy (BTU) is one of the several great candidates that made it through the screen. While there are numerous reasons why this stock is a great choice, here are the most vital ones:A dash of recent price momentum reflects growing interest of investors in a stock. With a four-week price change of 2.7%, the stock of this coal mining company is certainly well-positioned in this regard.While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. BTU meets this criterion too, as the stock gained 102% over the past 12 weeks.Moreover, the momentum for BTU is fast paced, as the stock currently has a beta of 1.56. This indicates that the stock moves 56% higher than the market in either direction.Given this price performance, it is no surprise that BTU has a Momentum Score of A, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped BTU earn a Zacks Rank #2 (Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Most importantly, despite possessing fast-paced momentum features, BTU is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. BTU is currently trading at 0.57 times its sales. In other words, investors need to pay only 57 cents for each dollar of sales.So, BTU appears to have plenty of room to run, and that too at a fast pace.In addition to BTU, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.Click here to sign up for a free trial to the Research Wizard today. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Peabody Energy Corporation (BTU): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 22nd, 2021

Futures Bounce On Evergrande Reprieve With Fed Looming

Futures Bounce On Evergrande Reprieve With Fed Looming Despite today's looming hawkish FOMC meeting in which Powell is widely expected to unveil that tapering is set to begin as soon as November and where the Fed's dot plot may signal one rate hike in 2022, futures climbed as investor concerns over China's Evergrande eased after the property developer negotiated a domestic bond payment deal. Commodities rallied while the dollar was steady. Contracts on the S&P 500 and Nasdaq 100 flipped from losses to gains as China’s central bank boosted liquidity when it injected a gross 120BN in yuan, the most since January... ... and investors mulled a vaguely-worded statement from the troubled developer about an interest payment.  S&P 500 E-minis were up 23.0 points, or 0.53%, at 7:30 a.m. ET. Dow E-minis were up 199 points, or 0.60%, and Nasdaq 100 E-minis were up 44.00 points, or 0.29%. Among individual stocks, Fedex fell 5.8% after the delivery company cut its profit outlook on higher costs and stalled growth in shipments. Morgan Stanley says it sees the company’s 1Q issues getting “tougher from here.” Commodity-linked oil and metal stocks led gains in premarket trade, while a slight rise in Treasury yields supported major banks. However, most sectors were nursing steep losses in recent sessions. Here are some of the biggest U.S. movers: Adobe (ADBE US) down 3.1% after 3Q update disappointed the high expectations of investors, though the broader picture still looks solid, Morgan Stanley said in a note Freeport McMoRan (FCX US), Cleveland- Cliffs (CLF US), Alcoa (AA US) and U.S. Steel (X US) up 2%-3% premarket, following the path of global peers as iron ore prices in China rallied Aethlon Medical (AEMD US) and Exela Technologies (XELAU US) advance along with other retail traders’ favorites in the U.S. premarket session. Aethlon jumps 21%; Exela up 8.3% Other so-called meme stocks also rise: ContextLogic +1%; Clover Health +0.9%; Naked Brand +0.9%; AMC +0.5% ReWalk Robotics slumps 18% in U.S. premarket trading, a day after nearly doubling in value Stitch Fix (SFIX US) rises 15.7% in light volume after the personal styling company’s 4Q profit and sales blew past analysts’ expectations Hyatt Hotels (H US) seen opening lower after the company launches a seven-million-share stock offering Summit Therapeutics (SMMT US) shares fell as much as 17% in Tuesday extended trading after it said the FDA doesn’t agree with the change to the primary endpoint that has been implemented in the ongoing Phase III Ri-CoDIFy studies when combining the studies Marin Software (MRIN US) surged more than 75% Tuesday postmarket after signing a new revenue-sharing agreement with Google to develop its enterprise technology platforms and software products The S&P 500 had fallen for 10 of the past 12 sessions since hitting a record high, as fears of an Evergrande default exacerbated seasonally weak trends and saw investors pull out of stocks trading at lofty valuations. The Nasdaq fell the least among its peers in recent sessions, as investors pivoted back into big technology names that had proven resilient through the pandemic. Focus now turns to the Fed's decision, due at 2 p.m. ET where officials are expected to signal a start to scaling down monthly bond purchases (see our preview here).  The Fed meeting comes after a period of market volatility stoked by Evergrande’s woes. China’s wider property-sector curbs are also feeding into concerns about a slowdown in the economic recovery from the pandemic. “Chair Jerome Powell could hint at the tapering approaching shortly,” said Sébastien Barbé, a strategist at Credit Agricole CIB. “However, given the current uncertainty factors (China property market, Covid, pace of global slowdown), the Fed should remain cautious when it comes to withdrawing liquidity support.” Meanwhile, confirming what Ray Dalio said that the taper will just bring more QE, Governing Council member Madis Muller said the  European Central Bank may boost its regular asset purchases once the pandemic-era emergency stimulus comes to an end. “Dovish signals could unwind some of the greenback’s gains while offering relief to stock markets,” Han Tan, chief market analyst at Exinity Group, wrote in emailed comments. A “hawkish shift would jolt markets, potentially pushing Treasury yields and the dollar past the upper bound of recent ranges, while gold and equities would sell off hunting down the next levels of support.” China avoided a major selloff as trading resumed following a holiday, after the country’s central bank boosted its injection of short-term cash into the financial system. MSCI’s Asia-Pacific index declined for a third day, dragged lower by Japan. Stocks were also higher in Europe. Basic resources - which bounced from a seven month low - and energy were among the leading gainers in the Stoxx Europe 600 index as commodity prices steadied after Beijing moved to contain fears of a spiraling debt crisis. Entain Plc rose more than 7%, extending Tuesday’s gain as it confirmed it received a takeover proposal from DraftKings Inc. Peer Flutter Entertainment Plc climbed after settling a legal dispute.  Here are some of the biggest European movers today: Entain shares jump as much as 11% after DraftKings Inc. offered to acquire the U.K. gambling company for about $22.4 billion. Vivendi rises as much as 3.1% in Paris, after Tuesday’s spinoff of Universal Music Group. Legrand climbs as much as 2.1% after Exane BNP Paribas upgrades to outperform and raises PT to a Street-high of EU135. Orpea shares falls as much as 2.9%, after delivering 1H results that Jefferies (buy) says were a “touch” below consensus. Bechtle slides as much as 5.1% after Metzler downgrades to hold from buy, saying persistent supply chain problems seem to be weighing on growth. Sopra Steria drops as much as 4.1% after Stifel initiates coverage with a sell, citing caution on company’s M&A strategy Despite the Evergrande announcement, Asian stocks headed for their longest losing streak in more than a month amid continued China-related concerns, with traders also eying policy decisions from major central banks. The MSCI Asia Pacific Index dropped as much as 0.7% in its third day of declines, with TSMC and Keyence the biggest drags. China’s CSI 300 tumbled as much as 1.9% as the local market reopened following a two-day holiday. However, the gauge came off lows after an Evergrande unit said it will make a bond interest payment and as China’s central bank boosted liquidity.  Taiwan’s equity benchmark led losses in Asia on Wednesday, dragged by TSMC after a two-day holiday, while markets in Hong Kong and South Korea were closed. Key stock gauges in Australia, Indonesia and Vietnam rose “A liquidity injection from the People’s Bank of China accompanied the Evergrande announcement, which only served to bolster sentiment further,” according to DailyFX’s Thomas Westwater and Daniel Dubrovsky. “For now, it appears that market-wide contagion risk linked to a potential Evergrande collapse is off the table.” Japanese equities fell for a second day amid global concern over China’s real-estate sector, as the Bank of Japan held its key stimulus tools in place while flagging pressures on the economy. Electronics makers were the biggest drag on the Topix, which declined 1%. Daikin and Fanuc were the largest contributors to a 0.7% loss in the Nikkei 225. The BOJ had been expected to maintain its policy levers ahead of next week’s key ruling party election. Traders are keenly awaiting the Federal Reserve’s decision due later for clues on the U.S. central banks plan for tapering stimulus. “Markets for some time have been convinced that the BOJ has reached the end of the line on normalization and will remain in a holding pattern on policy until at least April 2023 when Governor Kuroda is scheduled to leave,” UOB economist Alvin Liew wrote in a note. “Attention for the BOJ will now likely shift to dealing with the long-term climate change issues.” In the despotic lockdown regime that is Australia, the S&P/ASX 200 index rose 0.3% to close at 7,296.90, reversing an early decline in a rally led by mining and energy stocks. Banks closed lower for the fourth day in a row. Champion Iron was among the top performers after it was upgraded at Citi. IAG was among the worst performers after an earthquake caused damage to buildings in Melbourne. In New Zealand, the S&P/NZX 50 index rose 0.3% to 13,215.80 In FX, commodity currencies rallied as concerns about China Evergrande Group’s debt troubles eased as China’s central bank boosted liquidity and investors reviewed a statement from the troubled developer about an interest payment. Overnight implied volatility on the pound climbed to the highest since March ahead of Bank of England’s meeting on Thursday. The British pound weakened after Business Secretary Kwasi Kwarteng warnedthat people should prepare for longer-term high energy prices amid a natural-gas shortage that sent power costs soaring. Several U.K. power firms have stopped taking in new clients as small energy suppliers struggle to meet their previous commitments to sell supplies at lower prices. Overnight volatility in the euro rises above 10% for the first time since July ahead of the Federal Reserve’s monetary policy decision announcement. The Aussie jumped as much as 0.5% as iron-ore prices rebounded. Spot surged through option-related selling at 0.7240 before topping out near 0.7265 strikes expiring Wednesday, according to Asia- based FX traders.  Elsewhere, the yen weakened and commodity-linked currencies such as the Australian dollar pushed higher. In rates, the dollar weakened against most of its Group-of-10 peers. Treasury futures were under modest pressure in early U.S. trading, leaving yields cheaper by ~1.5bp from belly to long-end of the curve. The 10-year yield was at ~1.336% steepening the 2s10s curve by ~1bp as the front-end was little changed. Improved risk appetite weighed; with stock futures have recovering much of Tuesday’s losses as Evergrande concerns subside. Focal point for Wednesday’s session is FOMC rate decision at 2pm ET.   FOMC is expected to suggest it will start scaling back asset purchases later this year, while its quarterly summary of economic projections reveals policy makers’ expectations for the fed funds target in coming years in the dot-plot update; eurodollar positions have emerged recently that anticipate a hawkish shift Bitcoin dropped briefly below $40,000 for the first time since August amid rising criticism from regulators, before rallying as the mood in global markets improved. In commodities, Iron ore halted its collapse and metals steadied. Oil advanced for a second day. Bitcoin slid below $40,000 for the first time since early August before rebounding back above $42,000.   To the day ahead now, and the main highlight will be the aforementioned Federal Reserve decision and Chair Powell’s subsequent press conference. Otherwise on the data side, we’ll get US existing home sales for August, and the European Commission’s advance consumer confidence reading for the Euro Area in September. Market Snapshot S&P 500 futures up 0.4% to 4,362.25 STOXX Europe 600 up 0.5% to 461.19 MXAP down 0.7% to 199.29 MXAPJ down 0.4% to 638.39 Nikkei down 0.7% to 29,639.40 Topix down 1.0% to 2,043.55 Hang Seng Index up 0.5% to 24,221.54 Shanghai Composite up 0.4% to 3,628.49 Sensex little changed at 59,046.84 Australia S&P/ASX 200 up 0.3% to 7,296.94 Kospi up 0.3% to 3,140.51 Brent Futures up 1.5% to $75.47/bbl Gold spot up 0.0% to $1,775.15 U.S. Dollar Index little changed at 93.26 German 10Y yield rose 0.6 bps to -0.319% Euro little changed at $1.1725 Top Overnight News from Bloomberg What would it take to knock the U.S. recovery off course and send Federal Reserve policy makers back to the drawing board? Not much — and there are plenty of candidates to deliver the blow The European Central Bank will discuss boosting its regular asset purchases once the pandemic-era emergency stimulus comes to an end, but any such increase is uncertain, Governing Council member Madis Muller said Investors seeking hints about how Beijing plans to deal with China Evergrande Group’s debt crisis are training their cross hairs on the central bank’s liquidity management A quick look at global markets courtesy of Newsquawk Asian equity markets traded mixed as caution lingered ahead of upcoming risk events including the FOMC, with participants also digesting the latest Evergrande developments and China’s return to the market from the Mid-Autumn Festival. ASX 200 (+0.3%) was positive with the index led higher by the energy sector after a rebound in oil prices and as tech also outperformed, but with gains capped by weakness in the largest-weighted financials sector including Westpac which was forced to scrap the sale of its Pacific businesses after failing to secure regulatory approval. Nikkei 225 (-0.7%) was subdued amid the lack of fireworks from the BoJ announcement to keep policy settings unchanged and ahead of the upcoming holiday closure with the index only briefly supported by favourable currency outflows. Shanghai Comp. (+0.4%) was initially pressured on return from the long-weekend and with Hong Kong markets closed, but pared losses with risk appetite supported by news that Evergrande’s main unit Hengda Real Estate will make coupon payments due tomorrow, although other sources noted this is referring to the onshore bond payments valued around USD 36mln and that there was no mention of the offshore bond payments valued at USD 83.5mln which are also due tomorrow. Meanwhile, the PBoC facilitated liquidity through a CNY 120bln injection and provided no surprises in keeping its 1-year and 5-year Loan Prime Rates unchanged for the 17th consecutive month at 3.85% and 4.65%, respectively. Finally, 10yr JGBs were flat amid the absence of any major surprises from the BoJ policy announcement and following the choppy trade in T-notes which were briefly pressured in a knee-jerk reaction to the news that Evergrande’s unit will satisfy its coupon obligations tomorrow, but then faded most of the losses as cautiousness prevailed. Top Asian News Gold Steady as Traders Await Outcome of Fed Policy Meeting Evergrande Filing on Yuan Bond Interest Leaves Analysts Guessing Singapore Category E COE Price Rises to Highest Since April 2014 Asian Stocks Fall for Third Day as Focus Turns to Central Banks European equities (Stoxx 600 +0.5%) trade on a firmer footing in the wake of an encouraging APAC handover. Focus overnight was on the return of Chinese participants from the Mid-Autumn Festival and news that Evergrande’s main unit, Hengda Real Estate will make coupon payments due tomorrow; however, we await indication as to whether they will meet Thursday’s offshore payment deadline as well. Furthermore, the PBoC facilitated liquidity through a CNY 120bln injection whilst keeping its 1-year and 5-year Loan Prime Rates unchanged (as expected). Note, despite gaining yesterday and today, thus far, the Stoxx 600 is still lower to the tune of 0.7% on the week. Stateside, futures are also trading on a firmer footing ahead of today’s FOMC policy announcement, at which, market participants will be eyeing any clues for when the taper will begin and digesting the latest dot plot forecasts. Furthermore, the US House voted to pass the bill to fund the government through to December 3rd and suspend the debt limit to end-2022, although this will likely be blocked by Senate Republicans. Back to Europe, sectors are mostly firmer with outperformance in Basic Resources and Oil & Gas amid upside in the metals and energy complex. Elsewhere, Travel & Leisure is faring well amid further upside in Entain (+6.1%) with the Co. noting it rejected an earlier approach from DraftKings at GBP 25/shr with the new offer standing at GBP 28/shr. Additionally for the sector, Flutter Entertainment (+4.1%) are trading higher after settling the legal dispute between the Co. and Commonwealth of Kentucky. Elsewhere, in terms of deal flow, Iliad announced that it is to acquire UPC Poland for around USD 1.8bln. Top European News Energy Cost Spike Gets on EU Ministers’ Green Deal Agenda Travel Startup HomeToGo Gains in Frankfurt Debut After SPAC Deal London Stock Exchange to Shut Down CurveGlobal Exchange EU Banks Expected to Add Capital for Climate Risk, EBA Says In FX, trade remains volatile as this week’s deluge of global Central Bank policy meetings continues to unfold amidst fluctuations in broad risk sentiment from relatively pronounced aversion at various stages to a measured and cautious pick-up in appetite more recently. Hence, the tide is currently turning in favour of activity, cyclical and commodity currencies, albeit tentatively in the run up to the Fed, with the Kiwi and Aussie trying to regroup on the 0.7000 handle and 0.7350 axis against their US counterpart, and the latter also striving to shrug off negative domestic impulses like a further decline below zero in Westpac’s leading index and an earthquake near Melbourne. Next up for Nzd/Usd and Aud/Usd, beyond the FOMC, trade data and preliminary PMIs respectively. DXY/CHF/EUR/CAD - Notwithstanding the overall improvement in market tone noted above, or another major change in mood and direction, the Dollar index appears to have found a base just ahead of 93.000 and ceiling a similar distance away from 93.500, as it meanders inside those extremes awaiting US existing home sales that are scheduled for release before the main Fed events (policy statement, SEP and post-meeting press conference from chair Powell). Indeed, the Franc, Euro and Loonie have all recoiled into tighter bands vs the Greenback, between 0.9250-26, 1.1739-17 and 1.2831-1.2770, but with the former still retaining an underlying bid more evident in the Eur/Chf cross that is consolidating under 1.0850 and will undoubtedly be acknowledged by the SNB tomorrow. Meanwhile, Eur/Usd has hardly reacted to latest ECB commentary from Muller underpinning that the APP is likely to be boosted once the PEPP envelope is closed, though Usd/Cad is eyeing a firm rebound in oil prices in conjunction with hefty option expiry interest at the 1.2750 strike (1.8 bn) that may prevent the headline pair from revisiting w-t-d lows not far beneath the half round number. GBP/JPY - The major laggards, as Sterling slips slightly further beneath 1.3650 against the Buck to a fresh weekly low and Eur/Gbp rebounds from circa 0.8574 to top 0.8600 on FOMC day and T-1 to super BoE Thursday. Elsewhere, the Yen has lost momentum after peaking around 109.12 and still not garnering sufficient impetus to test 109.00 via an unchanged BoJ in terms of all policy settings and guidance, as Governor Kuroda trotted out the no hesitation to loosen the reins if required line for the umpteenth time. However, Usd/Jpy is holding around 109.61 and some distance from 1.1 bn option expiries rolling off between 109.85-110.00 at the NY cut. SCANDI/EM - Brent’s revival to Usd 75.50+/brl from sub-Usd 73.50 only yesterday has given the Nok another fillip pending confirmation of a Norges Bank hike tomorrow, while the Zar has regained some poise with the aid of firmer than forecast SA headline and core CPI alongside a degree of retracement following Wednesday’s breakdown of talks on a pay deal for engineering workers that prompted the union to call a strike from early October. Similarly, the Cnh and Cny by default have regrouped amidst reports that the CCP is finalising details to restructure Evergrande into 3 separate entities under a plan that will see the Chinese Government take control. In commodities, WTI and Brent are firmer this morning though once again fresh newsflow for the complex has been relatively slim and largely consisting of gas-related commentary; as such, the benchmarks are taking their cue from the broader risk tone (see equity section). The improvement in sentiment today has brought WTI and Brent back in proximity to being unchanged on the week so far as a whole; however, the complex will be dictated directly by the EIA weekly inventory first and then indirectly, but perhaps more pertinently, by today’s FOMC. On the weekly inventories, last nights private release was a larger than expected draw for the headline and distillate components, though the Cushing draw was beneath expectations; for today, consensus is a headline draw pf 2.44mln. Moving to metals where the return of China has seen a resurgence for base metals with LME copper posting upside of nearly 3.0%, for instance. Albeit there is no fresh newsflow for the complex as such, so it remains to be seen how lasting this resurgence will be. Finally, spot gold and silver are firmer but with the magnitude once again favouring silver over the yellow metal. US Event Calendar 10am: Aug. Existing Home Sales MoM, est. -1.7%, prior 2.0% 2pm: Sept. FOMC Rate Decision (Lower Boun, est. 0%, prior 0% DB's Jim Reid concludes the overnight wrap All eyes firmly on China this morning as it reopens following a 2-day holiday. As expected the indices there have opened lower but the scale of the declines are being softened by the PBoC increasing its short term cash injections into the economy. They’ve added a net CNY 90bn into the system. On Evergrande, we’ve also seen some positive headlines as the property developers’ main unit Hengda Real Estate Group has said that it will make coupon payment for an onshore bond tomorrow. However, the exchange filing said that the interest payment “has been resolved via negotiations with bondholders off the clearing house”. This is all a bit vague and doesn’t mention the dollar bond at this stage. Meanwhile, Bloomberg has reported that Chinese authorities have begun to lay the groundwork for a potential restructuring that could be one of the country’s biggest, assembling accounting and legal experts to examine the finances of the group. All this follows news from Bloomberg yesterday that Evergrande missed interest payments that had been due on Monday to at least two banks. In terms of markets the CSI (-1.11%), Shanghai Comp (-0.29%) and Shenzhen Comp (-0.53%) are all lower but have pared back deeper losses from the open. We did a flash poll in the CoTD yesterday (link here) and after over 700 responses in a couple of hours we found only 8% who we thought Evergrande would still be impacting financial markets significantly in a month’s time. 24% thought it would be slightly impacting. The other 68% thought limited or no impact. So the world is relatively relaxed about contagion risk for now. The bigger risk might be the knock on impact of weaker Chinese growth. So that’s one to watch even if you’re sanguine on the systemic threat. Craig Nicol in my credit team did a good note yesterday (link here) looking at the contagion risk to the broader HY market. I thought he summed it up nicely as to why we all need to care one way or another in saying that “Evergrande is the largest corporate, in the largest sector, of the second largest economy in the world”. For context AT&T is the largest corporate borrower in the US market and VW the largest in Europe. Turning back to other Asian markets now and the Nikkei (-0.65%) is down but the Hang Seng (+0.51%) and Asx (+0.58%) are up. South Korean markets continue to remain closed for a holiday. Elsewhere, yields on 10y USTs are trading flattish while futures on the S&P 500 are up +0.10% and those on the Stoxx 50 are up +0.21%. Crude oil prices are also up c.+1% this morning. In other news, the Bank of Japan policy announcement overnight was a non-event as the central bank maintained its yield curve target while keeping the policy rate and asset purchases plan unchanged. The central bank also unveiled more details of its green lending program and said that it would immediately start accepting applications and would begin making the loans in December. The relatively calm Asian session follows a stabilisation in markets yesterday following their rout on Monday as investors looked forward to the outcome of the Fed’s meeting later today. That said, it was hardly a resounding performance, with the S&P 500 unable to hold on to its intraday gains and ending just worse than unchanged after the -1.70% decline the previous day as investors remained vigilant as to the array of risks that continue to pile up on the horizon. One of these is in US politics and legislators seem no closer to resolving the various issues surrounding a potential government shutdown at the end of the month, along with a potential debt ceiling crisis in October, which is another flashing alert on the dashboard for investors that’s further contributing to weaker sentiment right now. Looking ahead now, today’s main highlight will be the latest Federal Reserve decision along with Chair Powell’s subsequent press conference, with the policy decision out at 19:00 London time. Markets have been on edge for any clues about when the Fed might begin to taper asset purchases, but concern about tapering actually being announced at this meeting has dissipated over recent weeks, particularly after the most recent nonfarm payrolls in August came in at just +235k, and the monthly CPI print also came in beneath consensus expectations for the first time since November. In terms of what to expect, our US economists write in their preview (link here) that they see the statement adopting Chair Powell’s language that a reduction in the pace of asset purchases is appropriate “this year”, so long as the economy remains on track. They see Powell maintaining optionality about the exact timing of that announcement, but they think that the message will effectively be that the bar to pushing the announcement beyond November is relatively high in the absence of any material downside surprises. This meeting also sees the release of the FOMC’s latest economic projections and the dot plot, where they expect there’ll be an upward drift in the dots that raises the number of rate hikes in 2023 to 3, followed by another 3 increases in 2024. Back to yesterday, and as mentioned US equity markets fell for a second straight day after being unable to hold on to earlier gains, with the S&P 500 slightly lower (-0.08%). High-growth industries outperformed with biotech (+0.38%) and semiconductors (+0.18%) leading the NASDAQ (+0.22%) slightly higher, however the Dow Jones (-0.15%) also struggled. Europe saw a much stronger performance though as much of the US decline came after Europe had closed. The STOXX 600 gained +1.00% to erase most of Monday’s losses, with almost every sector in the index ending the day in positive territory. With risk sentiment improving for much of the day yesterday, US Treasuries sold off slightly and by the close of trade yields on 10yr Treasuries were up +1.2bps to 1.3226%, thanks to a +1.8bps increase in real yields. However, sovereign bonds in Europe told a different story as yields on 10yr bunds (-0.3bps), OATs (-0.3bps) and BTPs (-1.9bps) moved lower. Other safe havens including gold (+0.59%) and silver (+1.02%) also benefited, but this wasn’t reflected across commodities more broadly, with Bloomberg’s Commodity Spot Index (-0.30%) losing ground for a 4th consecutive session. Democratic Party leaders plan to vote on the Senate-approved $500bn bipartisan infrastructure bill next Monday, even with no resolution to the $3.5tr budget reconciliation measure that encompasses the remainder of the Biden Administration’s economic agenda. Democrats continue to work on the reconciliation measure but have turned their attention to the debt ceiling and government funding bills.Congress has fewer than two weeks before the current budget expires – on Oct 1 – to fund the government and raise the debt ceiling. Republicans yesterday noted that the Democrats could raise the ceiling on their own through the reconciliation process, with many saying that they would not be offering their support to any funding bill. Democrats continue to push for a bipartisan bill to raise the debt ceiling, pointing to their votes during the Trump administration. If Democrats are forced to tie the debt ceiling and funding bills to budget reconciliation, it could limit how much of the $3.5 trillion bill survives the last minute negotiations between progressives and moderates. More to come over the next 10 days. Staying on the US, there was an important announcement in President Biden’s speech at the UN General Assembly, as he said that he would work with Congress to double US funding to poorer nations to deal with climate change. That comes as UK Prime Minister Johnson (with the UK hosting the COP26 summit in less than 6 weeks’ time) has been lobbying other world leaders to find the $100bn per year that developed economies pledged by 2020 to support developing countries as they reduce their emissions and deal with climate change. In Germany, there are just 4 days to go now until the federal election, and a Forsa poll out yesterday showed a slight narrowing in the race, with the centre-left SPD remaining on 25%, but the CDU/CSU gained a point on last week to 22%, which puts them within the +/- 2.5 point margin of error. That narrowing has been seen in Politico’s Poll of Polls as well, with the race having tightened from a 5-point SPD lead over the CDU/CSU last week to a 3-point one now. Turning to the pandemic, Johnson & Johnson reported that their booster shot given 8 weeks after the first offered 100% protection against severe disease, 94% protection against symptomatic Covid in the US, and 75% against symptomatic Covid globally. Speaking of boosters, Bloomberg reported that the FDA was expected to decide as soon as today on a recommendation for Pfizer’s booster vaccine. That follows an FDA advisory panel rejecting a booster for all adults last Friday, restricting the recommendation to those over-65 and other high-risk categories. Staying with the US and vaccines, President Biden announced that the US was ordering 500mn doses of the Pfizer vaccine to be exported to the rest of the world. On the data front, there were some strong US housing releases for August, with housing starts up by an annualised 1.615m (vs. 1.55m expected), and building permits up by 1.728m (vs. 1.6m expected). Separately, the OECD released their Interim Economic Outlook, which saw them upgrade their inflation expectations for the G20 this year to +3.7% (up +0.2ppts from May) and for 2022 to +3.9% (up +0.5ppts from May). Their global growth forecast saw little change at +5.7% in 2021 (down a tenth) and +4.5% for 2022 (up a tenth). To the day ahead now, and the main highlight will be the aforementioned Federal Reserve decision and Chair Powell’s subsequent press conference. Otherwise on the data side, we’ll get US existing home sales for August, and the European Commission’s advance consumer confidence reading for the Euro Area in September. Tyler Durden Wed, 09/22/2021 - 08:05.....»»

Category: blogSource: zerohedgeSep 22nd, 2021

Invesco is partnering with Mike Novogratz"s Galaxy Digital to launch crypto ETFs

First in the pipeline is a bitcoin-holding ETF that Galaxy proposed last year, which Invesco joined as a sponsor, The Wall Street Journal reported. Edward Smith/Getty Images Invesco is partnering with Galaxy Digital to launch a crypto ETF to be ready if the SEC OKs digital-asset funds. The companies are aiming for the ETF to track the performance of crypto while trading like a stock. "We ultimately think we can define this new market," John Hoffman of Invesco said. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Invesco confirmed in a regulatory filing on Tuesday it is partnering with Galaxy Digital Holdings to launch cryptocurrency exchange-traded funds, joining a long list of over two dozen companies pining to be the first in the country to launch a fund backed by digital assets.Invesco, one of the biggest operators of ETFs in the US, and Mike Novogratz's Galaxy Digital is aiming for their ETF to track the performance of cryptocurrencies while trading like a stock.First in the pipeline is a bitcoin-holding ETF that Galaxy proposed last year, which Invesco joined as a sponsor after the market closed on Tuesday, The Wall Street Journal first reported."This is about expanding the horizon," John Hoffman, head of Americas at Invesco, told The Journal. "We ultimately think we can define this new market."Invesco and Galaxy are preparing their ETF to be ready if the SEC ever approves crypto funds.For now, Hoffman said Invesco partnered with Galaxy, which cryptocurrency enthusiast and former hedge fund manager Novogratz founded in 2018, due to the firm's expertise in the space.In June, Invesco also filed two cryptocurrency-focused ETFs - Invesco Galaxy Blockchain Economy ETF and the Invesco Galaxy Crypto Economy ETF- that will invest in stocks focused on digital assets and technology. "There's a multitude of ways you can package these exposures. It's no different than other asset classes," Hoffman told The Journal. "We started with equities, investing in companies involved in the exploration and production of energy. We then went into futures and continued to add more ways to obtain these various exposures."Yet despite enthusiasm from various companies - with Cathie Wood's Ark Invest the latest fund provider to submit its own application - the SEC does not seem to share the same fervor.Currently, the regulator, under the leadership of Gary Gensler, has yet to approve any cryptocurrency ETF, including those proposed by VanEck, Valkyrie Investments, and FirstTrust/SkyBridge. It has extended the decision to approve VanEck's ETF by 60 days to November 14. Gensler previously taught classes on blockchain and cryptocurrencies at the MIT Sloan School of Management, leading some to assume he would be more receptive towards digital assets. But while leading the SEC, he has been clamping down on cryptocurrencies. Most recently, he compared stablecoins to poker chips. He has, however, indicated that he is more open to cryptocurrency ETFs, suggesting those that comply with the strictest rules for mutual funds could provide investor protection. He has also seemed to lean towards approving a futures-based ETF.The US lags behind other countries in approving bitcoin ETFs, with Canada this year approving the first publicly traded bitcoin ETF in North America, the Purpose Bitcoin ETF, as well as ethereum ETFs. Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 22nd, 2021

Cryptocurrency market trending lower as bitcoin straddles $42,000

Bitcoin was trading 2.29% lower on Wednesday morning......»»

Category: topSource: foxnewsSep 22nd, 2021

Bitcoin"s claim to be digital gold loses its shine after the token plunges alongside stocks in the Evergrande sell-off

Bitcoin advocates often call the cryptocurrency "digital gold", but it didn't behave like it as stocks cratered on Evergrande debt default fears. Bitcoin tumbled on Monday along with stocks. REUTERS/Dado Ruvic Bitcoin's claim to be digital gold was delivered a blow when it sold off alongside stocks on Monday. The world's biggest cryptocurrency tumbled over 8% as fears about Evergrande's debt shook markets. Data from Bloomberg shows that bitcoin's correlation with stocks has been rising of late. See more stories on Insider's business page. Bitcoin fans often say the world's biggest cryptocurrency is "digital gold" - a safe-haven asset that investors can turn to at times of market stress or high inflation.Yet that view was dealt a blow on Monday, when the digital currency crumbled along with stocks as Chinese property developer Evergrande's debt crisis roiled markets.Bitcoin tumbled 8.5% on Monday, according to Bloomberg data, while the S&P 500 fell 1.7% in its worst day since May and the tech-heavy Nasdaq 100 dropped 2.1%. Other cryptocurrencies, such as ether and cardano, also plunged.Meanwhile, gold and government bonds rallied as investors turned to assets that are traditionally seen as safe places for investors to hide during market volatility.Billionaire investor Ray Dalio is among those to have said bitcoin could be a diversifying asset in portfolios, while crypto bulls such as Mike Novogratz have long hailed it as digital gold. But a number of analysts said Monday's sell-off showed there are problems with that argument."It's funny, [bitcoin] always sells off when risk takes a hit," said Neil Wilson, chief market analyst at trading platform Markets.com."That's because it is the most risky asset, so it's the first to dump when there is liquidating of positions, margin calls, et cetera, to worry about."Read more: A 26-year-old crypto millionaire shows us the tools he uses to make the best trades and stay on top of tokens before they trendData from Bloomberg showed that bitcoin's correlation to the S&P 500 has been growing and is at its highest level in a year.Naeem Aslam, chief market analyst at AvaTrade, said institutional investors in particular see cryptocurrencies such as bitcoin as risky assets. This means they are inclined to ditch them to cover other positions when stock markets take a tumble.Cryptocurrencies' wild volatility limits their appeal as diversifying assets, according to a report released by UBS Global Wealth Management this week.However, bitcoin has other benefits for those who can stomach the wild ride, the UBS unit said, noting that it saw much higher returns than gold between 2016 and 2021. Bitcoin has risen around 290% in the last year.Crypto advocates argue that bitcoin and other cryptocurrencies are still relatively young, and that their volatility is likely to decline as the market grows and matures.Bitcoin was down 2.1% on Tuesday to $42,620, while the S&P 500 was up 0.15% as of 11.10 a.m. ET.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderSep 21st, 2021

Looking for a Fast-paced Momentum Stock at a Bargain? Consider Alcoa (AA)

Alcoa (AA) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices. Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potential fails to justify their swelled-up valuation. In that phase, investors find themselves invested in shares that have limited to no upside or even a downside. So, betting on a stock just by looking at the traditional momentum parameters could be risky at times.It could be safer to invest in bargain stocks that have been witnessing price momentum recently. While the Zacks Momentum Style Score (part of the Zacks Style Scores system), which pays close attention to trends in a stock's price or earnings, is pretty useful in identifying great momentum stocks, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.There are several stocks that currently pass through the screen and Alcoa (AA) is one of them. Here are the key reasons why this stock is a great candidate.A dash of recent price momentum reflects growing interest of investors in a stock. With a four-week price change of 17.9%, the stock of this bauxite, alumina and aluminum products company is certainly well-positioned in this regard.While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. AA meets this criterion too, as the stock gained 34.3% over the past 12 weeks.Moreover, the momentum for AA is fast paced, as the stock currently has a beta of 2.65. This indicates that the stock moves 165% higher than the market in either direction.Given this price performance, it is no surprise that AA has a Momentum Score of A, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped AA earn a Zacks Rank #1 (Strong Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Most importantly, despite possessing fast-paced momentum features, AA is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. AA is currently trading at 0.87 times its sales. In other words, investors need to pay only 87 cents for each dollar of sales.So, AA appears to have plenty of room to run, and that too at a fast pace.In addition to AA, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.Click here to sign up for a free trial to the Research Wizard today. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alcoa Corp. (AA): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 21st, 2021

Why Fast-paced Mover Summit Midstream Partners, LP (SMLP) Is a Great Choice for Value Investors

Summit Midstream Partners, LP (SMLP) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices. Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.It could be safer to invest in bargain stocks that have been witnessing price momentum recently. While the Zacks Momentum Style Score (part of the Zacks Style Scores system), which pays close attention to trends in a stock's price or earnings, is pretty useful in identifying great momentum stocks, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.Summit Midstream Partners, LP (SMLP) is one of the several great candidates that made it through the screen. While there are numerous reasons why this stock is a great choice, here are the most vital ones:A dash of recent price momentum reflects growing interest of investors in a stock. With a four-week price change of 14.3%, the stock of this company is certainly well-positioned in this regard.While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. SMLP meets this criterion too, as the stock gained 19.6% over the past 12 weeks.Moreover, the momentum for SMLP is fast paced, as the stock currently has a beta of 3.32. This indicates that the stock moves 232% higher than the market in either direction.Given this price performance, it is no surprise that SMLP has a Momentum Score of B, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped SMLP earn a Zacks Rank #2 (Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Most importantly, despite possessing fast-paced momentum features, SMLP is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. SMLP is currently trading at 0.61 times its sales. In other words, investors need to pay only 61 cents for each dollar of sales.So, SMLP appears to have plenty of room to run, and that too at a fast pace.In addition to SMLP, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.Click here to sign up for a free trial to the Research Wizard today. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Summit Midstream Partners, LP (SMLP): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 21st, 2021

Why Fast-paced Mover Banco Macro (BMA) Is a Great Choice for Value Investors

Banco Macro (BMA) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices. Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead of their future growth potential. In such a situation, investors find themselves loaded up on expensive shares with limited to no upside or even a downside. So, going all-in on momentum could be risky at times.It could be safer to invest in bargain stocks that have been witnessing price momentum recently. While the Zacks Momentum Style Score (part of the Zacks Style Scores system), which pays close attention to trends in a stock's price or earnings, is pretty useful in identifying great momentum stocks, our 'Fast-Paced Momentum at a Bargain' screen comes handy in spotting fast-moving stocks that are still attractively priced.Banco Macro (BMA) is one of the several great candidates that made it through the screen. While there are numerous reasons why this stock is a great choice, here are the most vital ones:A dash of recent price momentum reflects growing interest of investors in a stock. With a four-week price change of 12.3%, the stock of this financial holding company is certainly well-positioned in this regard.While any stock can see a spike in price for a short period, it takes a real momentum player to deliver positive returns for a longer time frame. BMA meets this criterion too, as the stock gained 10.3% over the past 12 weeks.Moreover, the momentum for BMA is fast paced, as the stock currently has a beta of 1.36. This indicates that the stock moves 36% higher than the market in either direction.Given this price performance, it is no surprise that BMA has a Momentum Score of A, which indicates that this is the right time to enter the stock to take advantage of the momentum with the highest probability of success.In addition to a favorable Momentum Score, an upward trend in earnings estimate revisions has helped BMA earn a Zacks Rank #2 (Buy). Our research shows that the momentum-effect is quite strong among Zacks Rank #1 and #2 stocks. That's because as covering analysts raise their earnings estimates for a stock, more and more investors take an interest in it, helping its price race to keep up. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Most importantly, despite possessing fast-paced momentum features, BMA is trading at a reasonable valuation. In terms of Price-to-Sales ratio, which is considered as one of the best valuation metrics, the stock looks quite cheap now. BMA is currently trading at 0.48 times its sales. In other words, investors need to pay only 48 cents for each dollar of sales.So, BMA appears to have plenty of room to run, and that too at a fast pace.In addition to BMA, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.Click here to sign up for a free trial to the Research Wizard today. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Macro Bank Inc. (BMA): Free Stock Analysis Report To read this article on Zacks.com click here......»»

Category: topSource: zacksSep 21st, 2021