Oil Set for First Quarterly Drop Since 2020 as Macro Mood Sours
Oil headed for its first quarterly loss in over two years on global economic slowdown fears and a stronger dollar.
MARKETS
Zee Business Stock, Trading Guide: Things to Know Before Market Opens on 30th September 2022
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US Redoubles Efforts to End Dependence on Russian Nuclear Fuel
“We are going to get Congressional support in a bipartisan way for us to make our own fuel cycle supply chain independent, certainly of Russia,” Granholm, 63, said in an interview at the International Atomic Energy Agency in Vienna. “We’ve got to make this happen for our own independence and national security.”
Porsche Rises in Landmark IPO Weathering Tough Markets
Porsche’s listing is a bold move into public markets, which have been largely shut to IPOs for most of the year, with companies shying away from seeking new listings because of the European energy crisis, rising interest rates and record inflation. The sale will help Volkswagen raise funds to plow into its electrification push, while … Read more
Apple, CarMax, Bed Bath & Beyond and more
Check out the companies making headlines before the bell: Apple (AAPL) – Apple lost 2.2% in the premarket after BofA Securities downgraded it to neutral from buy. BofA said Apple has held up relatively well in a down market, but it expects a negative impact on the company from weakening consumer demand. CarMax (KMX) – … Read more
Wells Fargo initiates coverage of Coinbase with an underweight rating
A challenging economic environment will pressure shares of Coinbase going forward, making now a good time to sell, according to Wells Fargo. The firm on Thursday initiated coverage of the cryptocurrency company with an underweight rating and a $57 price target, implying that shares will fall more than 15% from where they closed Wednesday. The … Read more
Bank of America downgrades Apple, says weak consumer will cause stock’s outperformance to end
Shares of Apple are running out of room to grow in the near-term, according to Bank of America. The bank on Thursday downgraded the tech giant to neutral from buy and cut its price target on the stock to $160 to $185, citing the stock’s recent outperformance and incremental risk to earnings and valuation in … Read more
China’s central bank PBOC warns against yuan speculation
The Chinese yuan weakened past the closely-watched 7.2 level against the greenback this week. Getty Images BEIJING — The People’s Bank of China has warned against betting on the yuan, after its rapid decline against the U.S. dollar this week. “Do not bet on a one-sided appreciation or deprecation of the renminbi exchange rate,” the … Read more
Hurricane Ian’s Damages Are Forecast to Be Worse Than 1992’s Andrew
Damages from Ian are expected to range from $60 billion to $70 billion given the latest forecasts, according to Chuck Watson, a disaster modeler with Enki Research. That would make Ian the sixth-costliest US hurricane, below Ida’s $78.7 billion in 2021, according to data from the National Oceanic and Atmospheric Administration.
What Cramer is watching Wednesday — oversold market bounce; promising Alzheimer's drug
Our trusted S&P Oscillator at minus 12.6. That indicates extremely oversold conditions.