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
Stocks gaining today
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?
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.
Share to Twitter Share to Linkedin Thanks to the selloff, it’s possible to buy closed-end funds (CEFs) at such high yields that we can do what seemed unthinkable just a few months ago: build a CEF portfolio that will pay $5,000 a month in dividends on about $540k invested. That’s an 11.1% average yield! This, of course, is because many CEFs have been caught up in the selloff, and yields move inversely to prices. So a fund that may have yielded, say, 7% six months ago (which is about the long-term CEF average) is suddenly yielding a lot more now. In addition, it’s possible to build an income stream this big with just three CEFs. The three funds we’ll examine below also come together to form a well-diversified portfolio, with stocks and bonds from hundreds of companies. The beauty of CEFs is that you can buy them through any brokerage account, just like stocks, during normal market hours. Their dividends will then reliably drop into your … [Read more...] about This 3-Fund Portfolio Pays $5,000 Every Month
Share to Twitter Share to Linkedin Key News Asian equities were largely higher as China, the Philippines, and Malaysia outperformed. Hong Kong and China both opened lower but did a mid-day 180 as reports came in that visitors to China will have their fourteen-day quarantine reduced to seven days. The post-quarantine at-home quarantine was also reduced to three days from seven. Travel-related stocks outperformed today, such as Trip.com HK (9961 HK) +16.54%, Macau casinos, hotels, and airlines. Coincidentally Trip.com (TCOM US) reported Q1 2022 results after the US close yesterday that beat analyst expectations (revenue RMB 4.11B versus estimate RMB 3.85B, adjusted EPS RMB -0.06 versus analyst expectations of RMB -0.46). Reports that Chinese President Xi Jinping will be in Hong Kong this Friday, appear to be confirmed, opening the possibility for more financial reform announcements for the city. Western media seems to be picking up on the reality that … [Read more...] about Trip.com Financial Results Beat & Benefits From China Covid Easing
Daria Mattingly is a Ukrainian historian specializing in the Holodomor. She holds a PhD from Cambridge University, where she teaches Soviet and Russian history, and is on the selection committee of the Danyliw Research Seminar on Contemporary Ukraine, University of Ottawa. The views expressed in this commentary are her own. View more opinio n on CNN. (CNN) Growing up in Ukraine, one learns not to leave breadcrumbs on the table. My generation of Millennials was taught this pious reverence to bread by our grandparents who survived the 1932-1933 famine in Ukraine -- known as the Holodomor. Daria Mattingly Many a time I heard the story of how a soup with wild sorrel saved my grandmother and her siblings while the grain collected from her village was left to rot at the train station. That wheat could have saved so many lives, but "the state" did not allow it. My grandmother could not stand the sight of sorrel for the rest of her life, and always kept her … [Read more...] about Opinion: All Ukrainian children know to ‘never leave breadcrumbs on the table’
Share to Twitter Share to Linkedin Key News Asian equities were a sea of red following the US equity downdraft yesterday. China and Hong Kong were hit with a round of good old fashion profit taking in advance of Friday’s Hong Kong market holiday. Yes, President Xi reiterated the success of the zero covid/lives first policy while visiting Wuhan. At the same time, early indications are that Chinese travelers are aggressively booking domestic and foreign travel following the easing of quarantine policies. According to a mainland article, “…the search volume for air tickets on the platform increased 60% within 30 minutes, the search volume for hotels doubled, and the search volume for trains increased by up to 1.5 times”. That’s the first half-hour! A mainland media source noted that the Ministry of Industry and Information Technology (MIIT) removed the identification star of those who had traveled to cities with a covid outbreak on people’s phone-based … [Read more...] about Profit Taking Hits Despite Travel Booking Bonanza Post Quarantine Easing
I f anybody had said to me I would end up in the food business, I would have said, ‘What are you smoking?’ ” says Daniel Lubetzky , the 50-year-old founder of Kind Healthy Snacks . “I never thought in a thousand years I would be selling food.” Maybe that’s because Lubetzky isn’t really selling food. Rather he is peddling health and altruism, at least the cheap sort you can buy in a 1.4-ounce fruit-and-nut snack bar drizzled with chocolate. Clues to Lubetzky’s deeper ambitions abound in his office decor: On one wall hang framed photos of him with Pope Francis, President Barack Obama and Shimon Peres, the late president of Israel. Books about the Middle East line another. Motivational quotes from the likes of Gandhi, Mother Teresa and the Dalai Lama are painted in the hallways. The overt display of social consciousness is core to Kind’s business strategy. The company has sold 2 billion snack bars since its founding in 2004 and has done so by wrapping itself in a … [Read more...] about Social Spin Doctor: Kind Bar’s Daniel Lubetzky Builds A $1.5 Billion Fortune On Do-Gooder Rhetoric