A look at the day ahead in European and global markets from Kevin Buckland Yields are mercifully lower as the week draws to a close, removing some of the angst that has weighed on equities and allowing the beaten-down yen and euro to regain some composure against the dollar. But this relative calm feels like the eye of the storm as risk events swirl on the horizon next week: mega-cap earnings from five of the “Magnificent 7”; a highly consequential U.S. payrolls report on Friday; and the final lap going into a likely photo-finish U.S. presidential election on Nov. 5.…
Author: user
JIUJIANG, CHINA – JUNE 17: A worker manufactures seamless steel gas cylinders for export at the workshop of Sinoma Science & Technology (Jiujiang) Co., Ltd. on June 17, 2024 in Jiujiang, Jiangxi Province of China. Wei Dongsheng | Visual China Group | Getty ImagesChina’s steel exports will soon hit an eight-year high, before sweeping tariffs sink in and drag down the industry in 2025, industry watchers said.As the biggest exporter of steel, China accounts for about 55% of the world’s steel production. The country’s steel exports have been surging this year and are expected to smash through the 100 million metric ton…
Microsoft shareholders are set to vote on a proposal to assess Bitcoin (BTC) as a potential corporate investment at the tech giant’s upcoming annual meeting at the end of the year, according to an Oct. 24 regulatory filing.The proposal, filed by a shareholder advisory board, calls for a detailed evaluation of the flagship crypto’s potential role within Microsoft’s treasury operations.However, the board of directors has recommended against the move, stating that its treasury already assesses a variety of assets, including cryptocurrencies like Bitcoin. The board emphasized Bitcoin’s volatility and argued that the company’s current processes ensure financial stability without the need…
Investing.com– Retail investors grew less optimistic over the short-term outlook for stock markets, an American Association of Individual Investors survey showed on Thursday, with neutral and pessimistic sentiments increasing. The AAII Sentiment Survey showed bullish sentiment- specifically that stock prices will rise in the next six months- among individual investors fell to 37.7% of respondents from 45.4% in the prior survey. Neutral sentiment- that stock prices will remain unchanged- rose slightly to 32.4%, while bearish sentiment- that stock prices will fall- rose by 4.5 percentage points to 29.9%. The spread of bulls to bears fell sharply to 7.8% in this…
Lewis Hamilton raised concerns about his car’s handling during the formation lap for the US GP Sprint at Circuit of the Americas, reporting a “clicking” sound under braking. Starting P7 for the 19-lap race, Hamilton immediately noticed this issue, which later prompted Mercedes to investigate further after the race. The technical issue persisted throughout the Sprint, affecting his car’s handling and his overall performance during the event. Mercedes identified the source of the problem after the Sprint race, discovering that a broken bearing in the suspension was the culprit. James Allison, Mercedes’ technical director, explained that the broken bearing affected…
Mark Webber, former Red Bull driver and now manager of McLaren’s Oscar Piastri, is reportedly pushing hard to negotiate a potential move for his client to Red Bull. This claim comes from Red Bull’s senior advisor Helmut Marko, suggesting that a significant twist in the Formula 1 driver market could be on the horizon. With Piastri already known for making bold moves, like rejecting an Alpine promotion to join McLaren for 2023, there are now hints that he could make another career-defining switch, this time to Red Bull. Red Bull’s interest in Piastri seems to be tied to the uncertainty…
David Einhorn of Greenlight Capital.Brendan McDermid/ Reuters David Einhorn said computer hardware maker HP could eventually benefit from AI. HP will likely see “high-teens growth” in the years ahead, he said. He said HP stock trading around 10x earnings looks “very reasonable.” Famed hedge fund investor David Einhorn is eyeing a tech stock that could be an under-the-radar artificial intelligence play. The Greenlight Capital founder said his firm isn’t necessarily interested in the parts of the market where investor enthusiasm is highest. Instead, his fund is betting on more affordable names that may be positioned to benefit from AI down…
At the United States Grand Prix, George Russell was handed a five-second time penalty for forcing Valtteri Bottas off the track. Although much of the attention was on the five-second penalty awarded to Lando Norris during his battle with Max Verstappen, Russell’s penalty stirred controversy. Both Russell and his team principal, Toto Wolff, expressed their dissatisfaction with the decision. Wolff labeled the penalty a “total joke,” while Russell admitted that although the penalty was technically in line with the rules, it was not fair from a racing perspective. Russell explained that, according to the letter of the law, his penalty…
Helmut Marko, Red Bull’s senior advisor, recently denied making any offensive comments about Lando Norris’ mental health, countering accusations from McLaren leadership. Marko’s initial comments, published by *Motorsport Magazin*, suggested Norris had “mental weaknesses” compared to Red Bull’s Max Verstappen, a claim that did not sit well with McLaren CEO Zak Brown and team principal Andrea Stella. Both perceived Marko’s words as a slight on mental health, particularly considering Norris’ role as a mental health advocate. Brown expressed disappointment in Marko’s remarks, calling them inappropriate and suggesting they undermined efforts to bring mental health awareness into the spotlight. Brown highlighted…
Peter Schiff Warns Investors Against Keeping $20K In Cash: ‘One Of The Riskiest Bets You Can Make’Prominent economist Peter Schiff cautioned investors against holding cash as a long-term strategy, warning of significant purchasing power erosion amid growing inflation concerns.What Happened: The outspoken financial commentator and Bitcoin (CRYPTO: BTC) skeptic responded to an X user who expressed anxiety about investing their $20,000 savings, stating, “I think investing in cash is one of the riskiest bets you can make. You may not lose any money, but your money will lose most of its purchasing power.”Don’t Miss:Schiff’s remarks came as part of a…