2020-12-01 07:15:02 07:15 12/01/20 12/0107:15 12/01/2007:15 | FX Update: The dollar and yen came back under pressureFX Update: The dollar and yen came back under pressure as risk-on positioning in global markets resumed. Most of the main dollar pairings and cross rates remained with recent ranges, though NZD-JPY saw a new one-year high, even as NZD-USD remained just off the 30-month high that was seen yesterday. Cable briefly traded above 1.3400 for the first time since early September before correcting. Europe's Stoxx 600 equity index gained nearly 1%, drawing back in on its nine-month high. The MSCI Asia-Pacific (ex-Japan) equity index rose over 1% after closing out November with a 9% on-the-month gain, which is the best monthly performance in 19 years. Japan's Nikkei posted a new 29-year high. U.S. equity index futures were showing gains of over 1%, as of the late London morning. Base metals gained, though remained off recent trend highs for the most part. The principal catalyst behind the prevailing risk-on theme was China's Caixin manufacturing PMI survey for November, which posted a seventh consecutive month of improvement in rising to 53.9, beating the consensus forecast and rising from 53.6 in the month prior -- and marking its best level in 10 years. In Europe, both the eurozone and UK final November manufacturing PMIs were unexpectedly revised up. Also in the mix was U.S. Treasury Secretary Mnuchin, who called on Congress to repurpose the near $0.5 tln in unused CARES funds. These factors came with Covid vaccine optimism running high, alongside massive liquidity from world central banks, prospects for more fiscal stimulus and a consumer spending spree, with household savings having been accumulating during the pandemic era. There are some reasons for caution, including a nearer-term one of investment funds having depleted cash, another being the risk that vaccination programs don't work as well as currently being envisaged, though the overall mix of factors is potently bullish for stock markets. In other developments, the RBA left its policy rate unchanged at 0.1%, as expected, and said in its statement that both fiscal and monetary stimulus would be needed "for some time." The OPEC+ group has deferred a decision on output quotas until Thursday. |
---|
Recommendations
|
Alphabet price target raised by $30 at BMO Capital, here's why »
09:06
04/26/24
04/26
09:06
04/26/2409:06
GOOGL
Alphabet
BMO Capital analyst Brian… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Safe and Green Development executes contract to sell Lago Vista site »
09:06
04/26/24
04/26
09:06
04/26/2409:06
SGD
Safe and Green Development
Safe and Green… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Downgrade
|
Ralph Lauren downgraded to Mixed from Positive view at OTR Global »
09:06
04/26/24
04/26
09:06
04/26/2409:06
RL
Ralph Lauren
OTR Global downgraded its… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Recommendations
|
Imax price target raised by $1 at Barrington, here's why »
09:05
04/26/24
04/26
09:05
04/26/2409:05
IMAX
Imax
Barrington raised the… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Recommendations
|
Equinor price target raised by $2 at TD Cowen, here's why »
09:05
04/26/24
04/26
09:05
04/26/2409:05
EQNR
Equinor
TD Cowen analyst Jason… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Recommendations
|
MarineMax price target lowered by $2 at B. Riley, here's why »
09:05
04/26/24
04/26
09:05
04/26/2409:05
HZO
MarineMax
B. Riley lowered the… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Earnings
|
Tompkins Financial reports Q1 EPS $1.18, consensus $1.15 »
09:05
04/26/24
04/26
09:05
04/26/2409:05
TMP
Tompkins Financial
Reports Q1 tangible book… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
General news
|
Market Action: there was big sigh of relief »
09:05
04/26/24
04/26
09:05
04/26/2409:05
$ECON
Economic Data
Market Action: there was… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Sam Adams named official beer, non-alcoholic beer of Pan-Mass Challenge »
09:04
04/26/24
04/26
09:04
04/26/2409:04
SAM
Boston Beer
amuel Adams is excited to… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Recommendations
|
Comcast price target lowered by $3 at Loop Capital, here's why »
09:04
04/26/24
04/26
09:04
04/26/2409:04
CMCSA
Comcast
Loop Capital lowered the… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
American Rebel appoints Mihalek as CEO of Champion Safe »
09:04
04/26/24
04/26
09:04
04/26/2409:04
AREB
American Rebel
American Rebel Holdings… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Recommendations
|
Tutor Perini price target raised by $1 at B. Riley, here's why »
09:04
04/26/24
04/26
09:04
04/26/2409:04
TPC
Tutor Perini
B. Riley analyst Alex… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Recommendations
|
TechnipFMC price target raised by $2 at TD Cowen, here's why »
09:04
04/26/24
04/26
09:04
04/26/2409:04
FTI
TechnipFMC
TD Cowen raised the… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
B. Riley Financial regains compliance with NASDAQ listing rules »
09:04
04/26/24
04/26
09:04
04/26/2409:04
RILY
B. Riley Financial
B. Riley Financial… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Safe Bulkers enters agreement for acquisition of one Japanese Kamsarmax »
09:03
04/26/24
04/26
09:03
04/26/2409:03
SB
Safe Bulkers
Safe Bulkers announced… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Recommendations
|
Rogers Corporation price target raised by $5 at B. Riley, here's why »
09:03
04/26/24
04/26
09:03
04/26/2409:03
ROG
Rogers Corporation
B. Riley raised the… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Recommendations
|
WNS Holdings price target lowered by $6 at TD Cowen, here's why »
09:03
04/26/24
04/26
09:03
04/26/2409:03
WNS
WNS Holdings
TD Cowen analyst Bryan… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Amgen announces imminent submission of MAA to EMA for teprotumumab »
09:02
04/26/24
04/26
09:02
04/26/2409:02
AMGN
Amgen
Amgen announced the… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Recommendations
|
SS&C price target raised by $2 at Morgan Stanley, here's why »
09:02
04/26/24
04/26
09:02
04/26/2409:02
SSNC
SS&C
Morgan Stanley raised the… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Recommendations
|
T-Mobile price target lowered by $1 at Scotiabank, here's why »
09:02
04/26/24
04/26
09:02
04/26/2409:02
TMUS
T-Mobile
Scotiabank lowered the… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Recommendations
|
Ladder Capital price target raised by $1 at B. Riley, here's why »
09:02
04/26/24
04/26
09:02
04/26/2409:02
LADR
Ladder Capital
B. Riley analyst Matt… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Recommendations
|
Mobileye price target raised by $2 at TD Cowen, here's why »
09:02
04/26/24
04/26
09:02
04/26/2409:02
MBLY
Mobileye
TD Cowen raised the… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Takeda announces CHMP opinion recommending approval of fruquintinib »
09:02
04/26/24
04/26
09:02
04/26/2409:02
TAK
Takeda
Takeda announced that the… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Hot Stocks
|
Matterport cancels Q1 conference call »
09:01
04/26/24
04/26
09:01
04/26/2409:01
MTTR
Matterport
CoStar Group
Matterport, Inc. (MTTR)… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |
Recommendations
|
Teradyne price target raised by $9 at Craig-Hallum, here's why »
09:01
04/26/24
04/26
09:01
04/26/2409:01
TER
Teradyne
Craig-Hallum raised the… Available to The Fly Members Only Breaking content available to members only. Sign up or login for access. Create FREE Account |