October week 2020

- A + A KUALA LUMPUR (May 26): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives reversed Wednesday’s losses to end on a three-week high on Thursday amid growing expectation of weaker-than-expected output. Palm oil trader David Ng said prolonged labour issues are also putting pressure on CPO production. “Lower production will likely reduce overall stock levels in the country. We locate support at RM6,300 a tonne and resistance at RM6,800 a tonne,” he told Bernama. At the close, the CPO futures contract for spot month June 2022 rose RM127 to RM7,087 a tonne, July 2022 was up RM194 to RM6,891 a tonne, August 2022 jumped RM150 to RM6,533 a tonne and September 2022 gained RM117 to RM6,318 a tonne. October 2022 was RM95 firmer at RM6,206 a tonne while November 2022 added RM95 to RM6,164 a tonne. Total volume increased to 65,892 lots from Wednesday’s close of 64,780 lots while open interest widened to 266,461 contracts from 264,260 contracts … [Read more...] about CPO futures hit three-week high on lower output concerns

Share to Twitter Share to Linkedin Topline U.S. Covid-19 hospitalizations have increased 29% over the past 14 days, according to a New York Times analysis of Department of Health and Human Services data, suggesting that a new Covid-19 surge could be underway following a roughly three-month lull. Key Facts Forty-seven states reported increased Covid-19 hospitalizations, with the largest increases recorded in Wyoming, where hospitalizations increased by 141%, in New Mexico, where they increased by 114%, and Louisiana, where they increased by 94%. This national increase in hospitalizations was accompanied by a dramatic 31% increase in seven-day average infection rates and a 10% increase in Covid-19 deaths. Rises in Covid-19 hospitalizations were strongly associated with rises in Covid-19 transmission—83% of states with hospitalization rate increases above the national average also reported above-average infection rate increases. … [Read more...] about U.S. Covid Hospitalizations Surge 29% In Two Weeks

Share to Twitter Share to Linkedin A top Biden administration official indicated that the ongoing student loan payment pause is going to end, and payments will resume. But he did not confirm a specific timeline, leaving borrowers guessing about when and whether to plan for repayment. Here’s where things stand, and what borrowers should expect. Student Loan Payment Pause Continues Through August For over 26 months, payments on most federal student loans have been paused, and interest has been set to zero. Collections efforts against defaulted federal student loan borrowers have also been suspended. That relief was originally provided through the CARES Act, which Congress passed in March 2020 in response to the Covid-19 pandemic, and it was supposed to last for six months. But President Trump, and subsequently President Biden, issued a series short-term extensions. Biden’s most recent extension is now set to end on August 31, 2022, which means … [Read more...] about Student Loan Payment Pause: Biden Official Says Repayment Will Resume ‘At Some Point’ — Here’s What That Might Mean

Major Moves The European and U.S. equity markets rebounded today in anticipation of future central bank dovishness. The Federal Open Market Committee (FOMC) has signaled that it is potentially looking to cut interest rates as early as this month, and the European Central Bank (ECB) announced at its monetary policy meeting today that it expects key ECB interest rates to remain at their present levels at least through the first half of 2020.” Traders are buying large-cap stocks in anticipation that low rates could both stimulate the economy and make it cheaper for large corporations to continue funding their share buyback programs with more debt. They are also anticipating that low rates and economic expansion could spur demand for crude oil . Crude oil can be a great indicator for anticipated economic strength. Oil prices tend to climb when traders expect the economy to get stronger, and they tend to fall when traders expect the economy to get weaker. Crude oil bounced … [Read more...] about Dovish ECB Joins the FOMC to Rally Markets

Key Takeaways EPS was -$0.03 vs. the -$0.05 analysts expected Revenue, which was expected to decline slightly year-over-year, rose substantially. Gross Payments volume fell, but by less than expected. What Happened Square was meant to report earnings after markets closed on August 5, 2020, but its earnings leaked and were reported by Bloomberg after markets closed on August 4. The news was positive. Sales, which analysts had expected to decline slightly, actually grew substantially year-over-year. Losses per share were also less than anticipated and while gross payments volume (GPV), the total value of transactions Square processes, declined, the decline was also smaller than expected. Square's stock rose by more than 10% in after-hours trading Tuesday, and are slightly higher today. (Below is Investopedia's original earnings preview, published July 29, 2020.) What to Look For Square Inc. ( SQ ) is feeling the negative financial impact of the … [Read more...] about Square Earnings: What Happened

Hopes of a trade deal breakthrough between Washington and Beijing have played a major part in driving China's benchmark stock index, the SSE Composite (000001.SS), up over 17% year to date (YTD). Therefore, it's not surprising to see the key Asian index suffer its largest one-day drop since February 2016 on Monday – a fall of 5.6% – after U.S. President Donald Trump fired off a Sunday tweet indicating that he plans to raise tariffs on $200 billion of Chinese goods to 25% on Friday because trade talks are moving too slowly. "We felt we were on track to get somewhere. Over the course of last week, we have seen an erosion of commitments by China. That in our view is unacceptable," said U.S. Trade Representative Robert Lighthizer, elaborating further on the president's social media threat, per Bloomberg . Fears across financial markets were somewhat alleviated later in the global trading day when it emerged that a Chinese delegation still planned to visit Washington on Thursday … [Read more...] about Inverse China ETFs Stage Breakout After Tariff Threat Tweet

Key Takeaways Analysts estimate adjusted EPS of RMB14.42 ($2.23) vs. RMB14.82 in Q1 FY 2021. Annual active consumers in China are expected to rise YOY. Revenue is expected to rise amid the Chinese government's crackdown on big tech. Alibaba Group Holding Ltd. ( BABA ) has not gone unscathed by the broad selloff in Chinese technology stocks. The sector shed hundreds of billions of dollars in market value in July amid a campaign by the Chinese government to rein in the power and influence of the country's tech giants. As part of the big tech crackdown, Alibaba was slapped with a fine worth $2.8 billion earlier this year for abusing its dominance over rivals and vendors on its e-commerce platforms. Investors will get a chance to focus on Alibaba's recent financial performance when it reports its Q1 FY 2022 earnings on August 3, 2021—the company's fiscal year ( FY ) ends in March. Analysts expect adjusted EPS to decline for the first time in at least four … [Read more...] about Alibaba Q1 FY 2022 Earnings Report Preview: What to Look For

When Tesla was booted off the S&P 500 ESG Index last week—an index that ranks companies based on environmental, social, and governance data—Elon Musk responded by tweeting that ESG was a “scam,” and pointing out that Exxon, one of the most polluting companies in the world, was ranked in the top 10 best companies in the index. advertisement advertisement In a blog post , the S&P explained that Tesla was cut in part because, despite making electric cars, it didn’t have a low-carbon strategy. They cited Tesla’s lack of codes of business conduct, along with reports of discrimination and dangerous working conditions at its California factory, as well as its handling of a National Highway Traffic Safety Administration investigation. (The EV company was also listed on the Toxic 100 Air Polluters, ranking last year for pollution from its battery factories, fined in Germany for not meeting laws requiring it to recycle used batteries; and … [Read more...] about Is it time to rethink what ESG investing means?

Small businesses are nothing without their communities. And when tragedy strikes close to home, many entrepreneurs feel a responsibility to act--fast. That's exactly what happened after a gunman entered Robb Elementary School in Uvalde, Texas , on Tuesday, May 24, killing 19 children and 2 adults. Local business owners, including those in the closest metropolitan area, San Antonio, have quickly rallied to support the families of the victims . "My heart tore up and broke when I heard the news," says Charles Moreno, the founder of ChazzMo's Barbecue , a Central Texas-style barbecue pop-up in Castroville, a town on the western outskirts of San Antonio. Moreno, who lived and worked in the Uvalde area for eight years and still has many friends and family members nearby, started his barbecue business in the early days of the pandemic, grilling out of his backyard. After launching his business on social media, he was floored by his community's support and invested in a … [Read more...] about How Local Small Businesses Are Supporting the People of Uvalde, Texas, a Town of 16,000 Broken Hearts

Share to Twitter Share to Linkedin Wellness tourism has boomed globally to a massive $793.2 billion dollar industry expected to grow to $1,672.2 billion by 2030. The demand for wellness destinations comes from a greater awareness of physical and mental wellness which has become a priority for travelers. Traditionally, wellness destinations seemed to be more exclusive and remote in areas like Southeast Asia and India but more and more resorts have popped up in North America exclusively focused on wellness in addition to popular resorts adding dedicated wellness programming. Castle Hot Springs in Arizona opened in 2020 on a 1,100-acre property centered around rejuvenating geothermal hot springs that have been naturally forged into the land over 13,000 years and flow at a clip of 200,000 gallons each day. The entire resort is focused on nourishing the mind, body, and soul by maximizing the benefits of the hot springs’ unique mineral mixture – particularly … [Read more...] about The Best Wellness Destinations To Visit This Year