Stock Market Today: The Indian market ended lower after a volatile session on June 29, a day ahead of the monthly expiry with investors also nervous about monthly auto numbers and PMI data to be released later in the week. At close, the 30-pack Sensex lost 0.25 percent, or 134.31 points, to end the day at 53,027, while the broad-based Nifty ended lower by 32.95 points, or 0.21 percent, at 15,799. “Consumer confidence is declining rapidly due to the uncontrolled and constant rise in inflation as India had to bear the double whammy effect of a dampening global equity market and rising crude prices as major suppliers like Saudi are unable to boost the output in the short-term”, said Vinod Nair, Head of Research at Geojit Financial Services. The domestic market, however, was able to recover most of the losses due to a strong movement in index heavyweights, PSUs, metals and oil & gas stocks before squandering some of the gains at the end of the day due to a volatile global … [Read more...] about Taking Stock | Market ends lower in choppy session ahead of expiry, auto and PMI data
Share to Twitter Share to Linkedin Sir John Templeton was a twentieth century American-born British investor, banker and fund manager. He entered the mutual fund market and created the Templeton Growth Fund, which averaged growth over 15% per year for 38 years. He once said, “To buy when others are despondently selling and to sell when others are avidly buying requires the greatest fortitude.” Warren Buffett also once said that it is wise for investors to be “fearful when others are greedy, and greedy when others are fearful.” Easier said than done, I hear you say. How do you keep your head around you when everyone is losing theirs? Thinking contrarian has always been a great strategy and one which I have employed extensively over the years. Naturally, to be honest. Thinking differently to the crowd requires patience, discipline, and very little emotion. These are traits that sometimes have to be wired (or indeed forced) into your brain. Especially when you … [Read more...] about Crashing Stock Markets Can Provide Opportunity For Longer Term Gains. But Do You Have The Stomach For It?
Movie theater companies own and operate cinemas and concession stands in both local and national chain models. As a component of the consumer discretionary sector, movie theaters tend to perform well when customers have disposable income and poorly when the economy is struggling or during times of market turbulence. The COVID-19 pandemic devastated movie theaters as a group due to plummeting attendance, a consequence of the economic recession and because millions of consumers chose to shelter at home. The industry is slowly recovering. The biggest names in the movie theater industry include AMC Entertainment Holdings Inc. and IMAX Corp. The domestic theater market is forecast to post box office receipts of $6.8 billion this year, up sharply from $4.6 billion in 2021 but far short of the roughly $10 billion in annual receipts in the years before the pandemic, according to industry publication The Numbers. With the crucial summer season fast approaching, theater owners expect … [Read more...] about Top Movie Theater Stocks for Q3 2022
- A + A KUALA LUMPUR (June 29): Shares in Hartalega Holdings Bhd saw the highest jump in a day since November last year and emerged as the top gainer on Bursa Malaysia, amid spots of resurgence in Covid-19 cases. At the opening bell, the stock opened unchanged at RM2.65 and surged further towards the closing bell, ending the day 30 sen or 11.32% higher to RM2.95. Trading volume surged to 25.44 million shares, highest since March 18 and five times its 200-day average of 4.72 million shares. At RM2.95, the glove maker is valued at RM10.11 billion. Previously, the highest jump in a day by Hartalega was on Nov 29 last year, whereby the stock closed 72 sen or 13.27% higher to RM6.16. Since the beginning of this year, the stock has fallen by 59.86%, following the global transition to the endemic phase of the Covid-19 pandemic. On the broader market, the Bursa Malaysia Healthcare Index — which tracks the performance of healthcare stocks — ended in the positive … [Read more...] about Hartalega posts largest single-day jump since November, glove stocks rise on Covid resurgence fears
Share to Twitter Share to Linkedin It’s a point and figure price chart pattern that indicates a possible trend reversal from down to up. Of course, there are no guarantees that the “triple top breakout” reversal is definite and irreversible, but the old-school charting technique remains useful when used in connection with other indicators such as momentum and sentiment. This week reveals the pattern beginning to make its appearance on some stocks that have sunk dramatically over the last 52-weeks — and on some that seem to have bottomed weeks ago. Chart price analysis like this is often frowned upon by fundamental analysts but that may be what makes it valuable as a contrarian view. NIO Inc. The triple top breakout above the previous resistance at 20 is confirmed by the move above the down trend line marked in red. Look at how the price of NIO has already doubled from the low of 12 to its recent price of 24. It’s taking a breather today and pulled … [Read more...] about Teladoc Health And 2 Other Stocks With “Triple Top Breakouts”
Share to Twitter Share to Linkedin ExxonMobil (XOM) broke out above its 50-day simple moving average as 2022 began. This happened after the stock was below its 200-day simple moving average on December 20, 2021. The December low was $57.96, and the rally high was $105.57 on June 8, 2022. Nymex Crude Oil traded as low as $62.43 per barrel on December 2, 2021 and as high as $130.50 on March 7, 2020. It’s been in a trading range since then with the low end at $93.53 set on March 15, 2022. Oil has been trading around its 50-day SMA since April 1 with the average now at $110.23. Exxon’s 50-day SMA is $91.40 with Tuesday’s close at $91.50. Exxon has a p/e ratio of 13.09% with a dividend yield on 3.95%, according to Macrotrends. As on June 27 the dividend payout was $3.52. The oil giant had beaten earnings-per-share estimates in six consecutive quarters but missed slightly when they reported before the open on April 29. The Daily Chart for ExxonMobil … [Read more...] about ExxonMobil Is Holding Gains As Crude Oil Rallies. Here’s How To Trade The Stock.
- A + A PORT KLANG (June 29): The implementation of the chicken buffer stock initiative by the Farmers’ Organisation Authority (LPP) is expected to be able to cover 20% of the domestic supply through the importation of 4,536 tonnes of the protein source from Thailand in stages until the end of July. LPP director-general Datuk Azulita Salim said the buffer stock could also be used to offset price fluctuations if there were areas in the country facing a shortage of chicken supply. She said an allocation of RM50 million had been approved by the Cabinet for the implementation of the programme. “All the chickens that enter the country through this programme are halal-certified and have obtained approval from the Department of Veterinary Services,” she said after inspecting the cold room facility of the Selangor State Farmers’ Organisation (PPN) on Wednesday (June 29). She said for a start, six containers — each containing 20 to 21 tonnes of chicken — would be imported … [Read more...] about LPP importing 4,536 tonnes of chicken from Thailand to be used as buffer stock
- A + A NEW YORK (June 29): US investment-grade corporate bond spreads have breached a key 150 basis point threshold that analysts and investors say could start to disrupt the flow of credit. The figure, which measures the extra yield investors demand to own corporate bonds instead of US Treasuries, is the highest in two years, according to data compiled by Bloomberg . Spreads recovered after the Federal Reserve took the unprecedented step of purchasing corporate bonds to boost liquidity around that time, but are coming under pressure again, amid concerns about a potential recession. While the central bank has so far shown little sign of slowing its pace of interest-rate hikes, spreads are moving toward a point where officials could begin to face pressure over the path of policy tightening, according to Winifred Cisar, global head of credit strategy at CreditSights Inc. “Historically, investment grade spreads tend to trade to 150 basis points, and then break … [Read more...] about Credit markets signal caution as US spreads surge past 150 mark
A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) A growing number of investors have come to the conclusion that a recession in the United States is probably looming, fueling a sharp sell-off in stocks and bonds as Wall Street braces for impact. What's happening: A shallow recession late this year or early next year is "becoming the consensus view," David Bianco, DWS chief investment officer for the Americas, told reporters this week. While there's agreement that the Federal Reserve needs to continue to aggressively pull back support for the economy to tamp down decades-high inflation, traders have been increasingly concerned that the central bank could accidentally go too far, triggering a new wave of job losses and throwing growth into reverse. But Fed officials … [Read more...] about Who’s right about a recession — markets or the Fed?
Share to Twitter Share to Linkedin With the U.S stock market experiencing its first significant correction in a couple of years, it seems like a good time to discuss some of the psychological biases that can negatively influence investor behavior: 1. Confirmation We all tend to actively seek out information that supports opinions we have already formed and to digest facts which suit our own world view. Investors commonly ignore or avoid reading critical opinions and reports about investments in which they already have large positions and seek confirmation from analysts and the media that the original decisions they made to buy and keep are still good ones. Just as great leaders will listen intently to those with whom they disagree, great investors should listen to the growling bears going in the opposite direction from the thundering herd of bulls. 2. Anchoring The price an investor initially pays for a stock can act as an unfortunate psychological … [Read more...] about An Investor’s Mind: 6 Ways It Can Block The Path To Long Term Wealth