by Bloomberg.com | Aug 5, 2024 | alerts, Markets/Economy
Rotation out of technology sector may be ‘mostly done’: JPM Bounce depends on data including manufacturing, inflation As the selloff in global stocks intensified Monday, JPMorgan Chase & Co.’s trading desk said the rotation out of the technology sector might be...
by Bloomberg.com | Aug 5, 2024 | alerts, Markets/Economy
Funding currencies the yen and yuan surge on short-covering Mexican peso retreats as pressure returns on EM currencies An unwinding of global carry trades is helping to jolt markets around the world. The yen and yuan pushed higher Monday, while the Mexican peso...
by Bloomberg.com | Aug 5, 2024 | alerts, Markets/Economy
Pressure to liquidate gold positions to cover margin calls The yellow metal was down by as much as 3.2% earlier on Monday Gold plunged on Monday as traders assessed the implications of a major global stock rout. Spot bullion fell as much as 3.2%, the biggest single...
by Bloomberg.com | Aug 5, 2024 | alerts, Markets/Economy
Morgan Stanley’s Wilson says markets exposed to slowing growth Wilson, JPMorgan’s Matejka see defensive stocks outperforming The US stock plunge is vindicating some of Wall Street’s most prominent bears, who are doubling down with warnings about risks from an economic...
by Bloomberg.com | Aug 5, 2024 | alerts, Markets/Economy
July registrations show no signs of recovery after subsidy cut Carmakers cut back production as EV demand disappoints Germany’s electric-vehicle sales slumped in July, extending a broad pullback since incentives ended late last year and undermining automakers’ plans...
