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Asian stocks choppy, sentiment shaken by sliding yuan

“Lastly, a weaker yuan deepens trade war concerns.”” writes Midwest Communications Inc for 95kqds.com. First, a weaker yuan challenges the competitiveness of other Asian economies,” said Shusuke Yamada, currency and equity strategist at Bank of America Merrill Lynch in Tokyo.The dollar index against a basket of six major currencies stood little changed at 95.178 after being knocked down from 95.652, its highest level since July 2017.”The weaker currency also causes fears of capital leaving China and disrupting their capital markets, which could have knock-on effects on Asia.With China showing little…

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Gold slips for sixth session as dollar firms

“Gold eased for a sixth straight session on Friday, having slipped to a one-year low in the previous session, as the U.S. dollar firmed” writes unknown author for cnbc.com. Spot gold was down 0.2 percent at $1,219.28 an ounce at 0127 GMT. In the previous session, it fell to its weakest since early July last year at $1,211.08 an ounce.The dollar index, which measures the greenback against a basket of six major currencies, was 0.1 percent higher at 95.129.Fed Chairman Jerome Powell in a two-day congressional testimony said he believed…

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Veon cuts management in return to traditional telecoms model

“Under Charlier, Veon went through a three-year house cleaning of previous management, job cuts and asset sales” writes Midwest Communications Inc for 95kqds.com. Burns has said Veon’s four immediate priorities are to increase its focus on emerging markets, control costs, improve its balance sheet and supporting its current dividend.AMSTERDAM (Reuters) – Veon, the mobile phone operator formerly known as VimpelCom, said it would cut management jobs and simplify its structure as it goes back to basics with a focus on telecom services in emerging markets. Source: 95kqds.com Share This:

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Stocks Climbing Despite Trade Worries, But Other Markets Are Flashing Warning Signs

“The price drop here is less dramatic, but it is hardly a positive sign” writes Martin Tillier for nasdaq.com. For many people, the recent direction of the stock market is somewhat puzzling.Despite what this administration keeps insisting, there are no winners in trade wars, particularly those conducted on multiple fronts.The strange thing is that if you google “copper price warning” or “doctor copper” as it is sometimes known, there are no recent results for articles pointing this out.At that time, the view that I espoused, that imposing tariffs was a…

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GOLDMAN SACHS: There’s one market that’s vulnerable to Trump’s tweets

“Reuters/Jonathan Ernst President Donald Trump’s tweets on trade don’t mean much to traders except in the soybeans market, according to Goldman Sachs” writes Akin Oyedele for businessinsider.com. “This is not to say that markets are not pricing trade risk or that trade tensions are not a concern,” Weldon said.That’s why soybean traders respond when Trump tweets about trade policy. Source: businessinsider.com Share This:

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The S&P 500 is now just 2% from a record and tech earnings could push it over the top

“Recently, United Airlines, Textron, WW Grainger, and CSX all beat and raised guidance (CSX raised revenue guidance)” writes David Paul Morris for cnbc.com. They key will be technology earnings.”The earnings season indicates that the combination of tax cuts and a strong economy are clearly more powerful than trade worries,” Young told me.Tech is 26 percent of the weighting in the S&P 500, and Christine Short from Estimize told me they are looking for 25 percent earnings growth and 15 percent revenue growth in technology alone. Source: cnbc.com Share This:

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Biggest threat to markets and economy is a Democrat win in November, Trump advisor Hassett says

“I could think of a lot of bad things that could hurt markets,” Hassett told CNBC’s Joe Kernan during a “Squawk Box” interview” writes Jeff Cox for cnbc.com. The main thing that could derail markets and the economy would be a Democrat takeover of Congress, White House economic advisor Kevin Hassett said Thursday. Source: cnbc.com Share This:

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The most costly mistakes investors of every size make, according to Bank of America’s $2 trillion wealth-management chief

“But regardless of how the market does going forward, certain bad behavior can be more costly than sitting on cash” writes Akin Oyedele for businessinsider.com. Following the stock market’s strong performance last year, many millennials and baby boomers are throwing more cash into the market in 2018, according to a Bank of America survey of nearly 1,000 households.Investors with a long time horizon can take advantage of one the smartest strategies to invest in stocks: dollar-cost averaging.Emerging-market stocks on aggregate are getting slammed this year, and so they are looking…

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EU’s Moscovici warns of hit to markets if trade tensions escalate

“BERLIN (Reuters) – A further escalation in trade policy tensions between the European Union and the United States would hit financial markets and hurt both sides, said European Commissioner for Economic and Financial Affairs Pierre Moscovici” writes Midwest Communications Inc for 95kqds.com. “An escalation – no matter from which side – would have serious consequences for the economy, including for the financial markets, which would hurt all sides,” Moscovici told the Augsburger Allgemeine newspaper in an interview.”That’s why we need a gateway to get out of this spiral that ultimately…

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Dow edges higher, but energy sector is a drag on the broader market

“U.S. stocks traded mixed, with the Dow Jones Industrial Average inching up, but the broader market edged lower as a slump in the energy sector weighed” writes Anora M for marketwatch.com. Wall Street moves has been influenced by economic reports and earnings reports.Gains in the financials and industrials sectors, up 0.9% and 0.6%, respectively, were overshadowed by sharp losses in energy shares, down more than 1.2%.UAL, +5.92%  were up 5.8% after the airline reported better-than-expected second-quarter earnings late Tuesday and lifted its profit projections.Abbott Laboratories ABT, +3.07%  shares rose 2.8%…

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