2 minutes ago
Singapore’s domestic exports (excluding oil) contract for ninth straight month
Singapore’s non-oil domestic exports fell 15.5% yoy in June, remaining in decline territory for the ninth straight month.
That was a sharper drop than the 14.8% drop recorded in May, but slightly less than the 15.8% drop economists polled by Reuters had been expecting.
Enterprise Singapore, Singapore’s enterprise development agency, said the decline in domestic non-oil exports was due to weaker exports to Malaysia, Indonesia and South Korea, although exports to Hong Kong and China rose.
— Lim Hui Jie
23 minutes ago
Hong Kong markets are delayed due to Typhoon Talim
Hong Kong markets are experiencing a delay in morning trading on Monday after the city issued a typhoon warning for Typhoon Talim at 7.45am Hong Kong time.
According to the classification of Typhoon Signal 8, the Hong Kong Stock Exchange will cancel its morning session and trading will not resume until the first half hour, which is at least two hours after the signal was interrupted.
Should the signal persist beyond 12:00 PM Hong Kong time, all trading sessions for that day will be cancelled.
— Lim Hui Jie
59 minutes ago
CNBC Pro: “Red Hot Uptrend”: Shares in this global, high-growth tech fund could soar 180%, says Berenberg
According to Berenberg, shares in a venture capital fund focused on the high-growth tech sector could soar more than 180%.
The bank’s analyst said that even if the VC fund’s portfolio does not see growth and is priced at a 20% discount to its peers, that would still mean upside potential of 54%.
CNBC Pro subscribers can read more here.
– Ganesh Rao
59 minutes ago
CNBC Pro: UBS has updated its stocks list with ‘highest convictions’ – aiming to beat a major index
UBS named a number of US and global stocks it says will beat a major index in 2023, which it described as a year of “tipping points.”
The stock picks are names it is “most confident in,” and the list aims to beat the MSCI All Countries World Index, the Swiss bank said in a July 11 research note, adding, that she “didn’t shy away from taking some contrary positions.” “
CNBC Pro subscribers can read more here.
– Lucy Handley
Fri Jul 14, 2023 3:48 pm EDT
According to the IMF, global headline inflation appears to have peaked
According to the International Monetary Fund, headline inflation appears to have peaked in the Group of 20 countries. However, core inflation remains well above central bank targets in most G20 countries, particularly in advanced economies.
“In the fight against inflation, there are some early signs that monetary policy is affecting activity, with bank lending standards tightening in the euro area and the United States. However, policymakers should avoid “premature celebrations”: lessons from previous episodes of inflation show “Easing policy too soon can nullify gains on inflation,” IMF Managing Director Kristalina Georgieva wrote in a statement on Friday.
The IMF forecasts that global growth will decline by around 3% over the medium term, down from the historical average of 3.8% from 2000 to 2019.
– Hakyung Kim
Thu Jul 13, 2023 11:23 pm EDT
According to the International Monetary Fund, China’s growth is slowing
The International Monetary Fund said growth in China is slowing due to weaker private investment as well as slowing exports and weaker domestic demand.
The organization’s spokeswoman, Julie Kozak, said in a briefing that “growth momentum in China has slowed recently, mainly due to weaker-than-expected private investment,” pointing to a recent fall in exports after falling in the had a strong performance in the first quarter of the year.
“The overall picture for growth in China is that of a slowing economy, and that’s consistent with the forecast we had in April,” noting that an “updated forecast” for China will be included in the IMF’s next World Economic Outlook will be.
– Jihye Lee
Fri Jul 14, 2023 12:48 pm EDT
Investors are expecting bullish momentum in the market in the coming week as earnings fall
Stocks could gain further momentum in the coming week as traders turn their attention to earnings results after last week’s weaker inflation news.
Major benchmarks are set for a positive week on Friday, after encouraging consumer and wholesale inflation in June underpinned the likelihood that the Federal Reserve is nearing the end of its rate hike campaign. According to CME Group’s FedWatch tool, traders see a 95 percent certainty that the Federal Reserve will hike rates at the July central bank meeting. You are 81% sure the Fed will stand firm in September.
“I think the Fed is sort of fixated on another rate hike,” said Rob Williams of Sage Advisory. “But looking at this inflation data, I think they’re sort of done.”
CNBC Pro subscribers can read the full story here.
— Sarah Min
Fri Jul 14, 2023 1:51 pm EDT
More than a third of Friday’s new 52-week highs in the S&P 500 are all-time records
More than a third of the 32 stocks that made new 52-week highs in the S&P 500 on Friday are also trading at record levels. Three of the 32 (JPM, V, CRM) are also in the Dow Jones Industrial Average. Three of the all-time highs are home builders. And then of course there is Nvidia:
- Netflix, highest trading value since February 2022
- Booking Holdings, has traded at record levels since going public in 1999
- DR Horton, all-time high since going public in 1992
- Lennar, all-time high since trading began in 1971
- PulteGroup has been trading at an all-time high since its IPO in 1972
- CBOE Holdings, all-time high since 2010 IPO
- Intercontinental exchanges, highest level since April 2022
- JPMorgan (JPM), highest since February 2022
- Moody’s, highest since February 2022
- S&P Global, highest since April 2022
- Visa, highest since August 2021
- Align Technology, highest since April 2022
- Cooper Companies, highest since April 2022
- DexCom, highest since December 2021
- IDEXX Laboratories, highest since April 2022
- Intuitive Surgical, highest since January 2022
- Steris, highest since June 2022
- Copart, all-time high since going public in 1994
- Masco, highest since February 2022
- Rollins Inc., highest since the start of trading in 1968
- Adobe, highest since February 2022
- Ansys, highest since January 2022
- Cadence Design Systems, an all-time product since its predecessor ECAD went public in 1987
- Salesforce.com, highest since February 2022
- Fortinet, all-time high since going public in 2009
- Gartner, highest since November 2021
- ServiceNow, highest since March 2022
- NVIDIA, all-time high since IPO in 1999
- ON Semiconductor, all-time high since its IPO in 2000
- Teradyne, highest since April 2022
- Sherwin-Williams, highest since June 2022
- Equinix, highest since January 2022
Meanwhile, just five stocks in the S&P 500 fell to 52-week lows on Friday, none of which posted record highs, even as AT&T hit 20-year lows:
— Scott Schnipper, Christopher Hayes
Comments are closed.