Wall Street Today: Nervous traders bet the market’s best days are behind it
Aramco posts nearly 300% leap in second-quarter profit as oil demand recovers
Saudi state oil giant Aramco reported a stunning 288% increase in net income to $25.5 billion for the second quarter, while maintaining its dividend of $18.8 billion, as big oil benefits from higher prices and a recovery in worldwide demand.
Aramco said free cash flow was $22.6 billion in the second quarter and $40.9 billion for the first half of 2021, compared to $6.1 billion and $21.1 billion, respectively, for the same periods in 2020.
Stocks loved in 2020 now get the wrath of profit misses
Internet stocks, food delivery companies and online retailers are paying a heavy price for any earnings disappointment.
Companies from $ASOS plc Unsponsored ADR(ASOMY.US$to $ZALANDO SE UNSP ADR EACH REPR 0.5 ORD(ZLNDY.US$and $Logitech International(LOGI.US$have all suffered steep stock-market losses in Europe after their results in the past month. It’s a fact that makes companies with sky-high valuations look increasingly volatile, and shows that investors are less willing to buy growth at any cost.
Nervous S&P 500 traders bet the market’s best days are behind it
The relentless rally in U.S. equities has driven bears almost into extinction. But to say bullishness is ubiquitous would be a stretch.
From options trading to stock preferences to the direction of retail money flows, signs of trepidation are budding in a market where $27 trillion has been added to equity values in a little over a year.
Cash is flooding into short-term markets like never before. is that a bad sign?
An unusual surge of short-term lending by cash-rich companies is raising concerns on Wall Street that a period of unrest may lie ahead.
Investors such as money-market funds and banks are parking over $1 trillion in spare cash overnight at the Federal Reserve. That is the most on record since the Fed opened its facility for these reverse repurchase agreements in 2013.
Record pace for corporate earnings keeps stocks buoyant
A solid corporate earnings season has bolstered the case for stocks.
Recent developments have had many investors expecting rockier trading in the coming months, following an 18% advance in 2021 that has taken the S&P 500 to 44 record closes. The rapidly spreading global health crisis has cast a cloud over the economic outlook, and rising prices have sparked debate over whether sustained inflation will hamper the recovery.
Strong jobs report is not a game changer for Fed policy, Wells Fargo suggests
The latest jobs report may not be a game changer for the Federal Reserve’s easy money policies.
According to Wells Fargo Securities’ Michael Schumacher, it’s premature to assume July's strong numbers will push the Fed meaningfully closer to tapering its monthly bond purchases.
“This report was pretty strong. Not a blockbuster,” the firm’s head of macro strategy told CNBC’s “” on Friday. “If there’s another strong one after it, it’s conceivable the Fed may start talking about tapering in a pretty serious way. Let’s say in October.”
Alibaba rape allegation piles pressure on Chinese tech company
An employee at Chinese online retailer Alibaba has accused her supervisor of sexual assault, dealing another blow to the company’s reputation during a regulatory crackdown on the country’s technology groups.
An account by an Alibaba employee posted to the company’s internal message boards late on Friday evening alleged that her supervisor in the group’s online grocery platform Taoxianda had sexually assaulted her on a business trip last month.
Buffett slows buybacks, sells stocks with market at highs
Despite having more than $144 billion of funds at his disposal, the $Berkshire Hathaway-A(BRK.A.US$chief executive officer ended up taking a step back with his capital deployment during the second quarter. He repurchased just $6 billion of Berkshire stock, the lowest amount of buybacks since the middle of 2020, and was a net seller of other stocks for the third quarter in a row, according to the conglomerate’s second-quarter earnings released Saturday.
Buffett’s been faced with a high-class problem in recent years: Too much cash, and too few opportunities. He’s been under pressure to do a large deal to help supercharge the company’s growth, but has come up short with well-priced and attractive options, leading Berkshire to spend even more funds buying back its stock.
Source: Bloomberg, Dow Jones, CNBC, Financial Times
Source: Bloomberg, Dow Jones, CNBC, Financial Times
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo News Official Account
In 10 minutes it’s history. At four I’m a dinosaur!
37KFollowers
26Following
38KVisitors
Follow
Michael Wong : Nice
ckteng Michael Wong:
RainbowMouse : Good Morning
Alfred1007 : buffet is waiting to strike!
lewis leeks : Great
102894676 : Nice
ranril : good
Quantum 2021 : nice
Cyberboyz1010 : Nice
Shingzer : nice
View more comments...