Reuters Money

02/23/2021

Bitcoin's steep drop drags Tesla, ARK ETFs along for the ride

A dive in #Bitcoin’s price spilled onto shares of #Tesla, which recently disclosed that it held a $1.5 billion investment in the cryptocurrency, and slammed exchange-traded funds holding the stock on Tuesday.

The losses come amid a broader market downturn over the last few days that has seen investors sell shares in a wide range of assets that have notched big rallies in recent months, from technology stocks to cannabis and solar ETFs.

A dive in Bitcoin's price spilled onto shares of Tesla Inc, which recently disclosed that it held a $1.5 billion investment in the cryptocurrency, and slammed exchange-traded funds holding the stock on Tuesday.

02/23/2021

Analysis: Bubbles, bubbles bound for trouble?

The 80% rise in world stocks since last March’s COVID-19 meltdown - at a pace almost 10 times faster than that seen after the 2008 global financial crisis - has been driven by the well over $20 trillion worth of aid provided by governments and central banks.

Is the bubble about to burst?

The $6.2 billion-an-hour rise in the value of world stocks since March was dubbed the "mother of all asset bubbles" by BofA analysts last week - and all of a sudden there is a high-pitched hissing sound.

02/11/2021

Exclusive: How GameStop missed out on capitalizing on the Reddit rally

GameStop's market value soared from $1.4 billion on Jan. 11 to a peak of $33.7 billion on Jan. 28. At that point, GameStop could have raised hundreds of millions of dollars through a stock sale to pay down its debt pile, which totaled $216 million net of cash as of the end of October, and fund its transformation into a digital gaming service, as sales at its mall-based stores dwindle.

Yet GameStop never sold shares, despite being egged on by many Wall Street pundits to do so. While it could still sell shares in the coming weeks, the opportunity to raise hundreds of millions of dollars has now slipped as the rally in its shares reversed. It now has a market value of $3.6 billion.

Here is how it happened.

U.S. video game retailer GameStop Corp decided it could not seize on the Reddit-fueled rally in its shares to sell hundreds of millions of dollars worth of stock because of regulatory restrictions, according to three people familiar with the matter.

02/11/2021

ESG Funds: Big does not always mean better | Reuters Video

ESG funds attracted record new deposits last year, as investors became increasingly worried about issues such as climate change. But big does not always mean better, and the track record of ESG funds has been patchy. Detlef Glow, Head of Research at Refinitiv, an LSEG business, explains why investors need to know what’s in ESG products before handing fund managers their money.

ESG funds attracted record new deposits last year, as investors became increasingly worried about issues such as climate change. But big does not always mean better, and the track record of ESG funds has been patchy. Detlef Glow, Head of Research at Refinitiv Lipper, explains why investors need to k...

02/10/2021

Cannabis stocks light up Reddit as sector surges to new highs

Interest from retail investors appeared to lift cannabis stocks broadly higher on Wednesday, signaling that the recent trading frenzy behind Reddit favorites such as GameStop is shifting to other companies including Tilray, Canopy Growth Corporation and Aurora Cannabis.

Interest from retail investors appeared to lift cannabis stocks broadly higher on Wednesday, signaling that the recent trading frenzy behind Reddit favorites such as GameStop is shifting to other companies.

02/09/2021

The cannabis sector’s growing ambition | Reuters Video

Retail and institutional investors are salivating at the prospect that cannabis will become legal at the federal level in the United States, driving cannabis-related stocks to triple-digit gains. Reuters discusses the risks of investing in the sector with Ross Gerber of Gerber Kawasaki.

Retail and institutional investors are salivating at the prospect that cannabis will become legal at the federal level in the United States, driving cannabis-related stocks to triple-digit gains. Reuters discusses the risks of investing in the sector with Ross Gerber of Gerber Kawasaki.

02/05/2021

'To the moon' or to a lawyer, GameStop investors cope with stock's rollercoaster

Many financial professionals had warned the GameStop rally could not last forever. Still, lawyers said their phones have been ringing with GameStop shareholders hoping to recoup losses. Even during this week’s swoon, many recent Reddit posts pledged to hold GameStop until the stock goes “to the moon.”

Eric Diaz, an operations manager in Tampa, Florida, remains committed to his GameStop shares even after their steep retreat from highs they hit last week. "It got personal," he said.

02/04/2021

Media sector’s adjustment to new viewing habits only just started | Reuters Video

The past year has upended the media sector. While theme parks and cinemas were closed, consumers around the world switched to an ever-growing number of streaming platforms. S&P Global's Naveen Sharma tells Reuters why he thinks it’s too early to tell who will come out on top from this revolution in home entertainment.

The past year has upended the media sector. While theme parks and cinemas were closed, consumers around the world switched to an ever-growing number of streaming platforms. S&P Global’s Naveen Sharma tells Reuters why he thinks it’s too early to tell who will come out on top from this revolution...

02/04/2021

What price to fix the COVID-stricken U.S. economy? It's complicated

In the debate about how much more to spend battling the pandemic’s economic fallout, a silent player in the fracas is the patchwork nature of the recovery itself. It’s moving along briskly in some parts of the U.S., for some people and in some industries. It’s lagging badly in others.

Judged from Idaho, Utah, Kansas or Alaska, home to U.S. senators arguing for a smaller next round of federal spending to fight the coronavirus recession, the country's economic situation might seem less dire as the distribution of vaccines gathers pace and a possible end...

02/03/2021

Bezos' shock exit cools Amazon results boost

Few analysts were expecting Jeff Bezos to step down when Amazon.com on Tuesday reported quarterly sales above $100 billion for the first time, delivering goods and gaining more cloud customers during the coronavirus pandemic.

“The timing of the announcement comes as a surprise, the appointment of Jassy is not surprising,” D.A. Davidson analyst Tom Forte said.

Jeff Bezos' surprise move to step down as chief executive of Amazon.com Inc quashed Wall Street optimism about bumper quarterly results, but analysts were upbeat on the promotion of its cloud computing head to the top job.

02/02/2021

Amazon's Bezos to step down as CEO; quarterly revenue tops $100 billion for first time

"I’ve never had more energy, and this isn’t about retiring.”

Big Amazon.com news!

Amazon.com Inc on Tuesday said founder Jeff Bezos would step down as CEO and become executive chairman, as the company reported its third consecutive record profit and quarterly sales above $100 billion for the first time.

01/28/2021

"GameStop effect" could ripple further as Wall Street eyes short squeeze candidates

The clash between retail traders and Wall Street professionals that sparked roller coaster rides in the shares of GameStop may pose a risk to dozens of other stocks and potentially create a headache for the broader market, analysts said.

The clash between retail traders and Wall Street professionals that sparked roller coaster rides in the shares of GameStop Corp may pose a risk to dozens of other stocks and potentially create a headache for the broader market, analysts said.

01/28/2021

Why the end of the pandemic may boost health care stocks | Reuters Video

The U.S. health care sector barely kept up with the wider market in 2020, as many people stayed away from doctors and hospitals while the pandemic raged on. But with vaccines being rolled out, some investors think now may be the time to revisit the sector. Randy Watts of O’Neil Global Advisors tells us why.

The U.S. health care sector barely kept up with the wider market in 2020, as many people stayed away from doctors and hospitals while the pandemic raged on. But with vaccines being rolled out, some investors think now may be the time to revisit the sector. Randy Watts of O’Neil Global Advisors tel...

01/26/2021

More carats and sparkle: How LVMH plans to change Tiffany

How LVMH plans to change Tiffany & Co.: At a town hall in New York for Tiffany’s employees on Jan. 8 - a day after LVMH installed a new leadership team - the group’s new bosses laid out their initial plans to focus on high-end, sparkling jeweler, a source said

French luxury goods group LVMH plans to overhaul Tiffany & Co's vast merchandise lineup to increase the focus on gold and precious gems and take its silver bangles upmarket after closing the $15.8 billion takeover of the U.S. jeweller this month.

01/25/2021

Time to pause? Wall St. grows wary of some stock bubbles

A flood of money supply, ultra-low or zero interest rates and COVID-19 vaccine rollouts have sparked a ‘buy everything’ rally, helping world stocks add a whopping $33 trillion in value from their lows of last March.

Wall Street is abuzz about stock market bubbles as surges in the share prices of some loss-making firms, red-hot public markets and amateur investors chasing stocks at frothy valuations spark fears of a pullback.

01/14/2021

Biden to unveil plan to pump $1.5 trillion into pandemic-hit economy

President-elect Joe Biden's U.S. stimulus package has a price tag above $1.5 trillion and includes a commitment for $1,400 stimulus checks, according to a source familiar with the proposal. Biden is expected to commit to partner with private companies to increase the number of Americans getting vaccinated.

President-elect Joe Biden will unveil a stimulus package proposal on Thursday designed to jump-start the economy during the coronavirus pandemic with an economic lifeline that could exceed $1.5 trillion and help minority communities.

01/13/2021

Stocks, ETFs that could thrive under Biden | Reuters Video

Stocks, sectors and ETFs that could thrive under a Biden administration as seen by Ross Gerber of Gerber Kawasaki
WATCH: reut.rs/3soRr48

One week before President-elect Joe Biden takes the oath of office, Gerber Kawasaki CEO Ross Gerber tells Reuters' Fred Katayama which sectors, stocks, and ETFs stand to gain the most under a new administration.

01/08/2021

Stocks hit records after Dems win Senate | Reuters Video

Another record day for U.S. equities.

Stocks hit record highs on Thursday as investors bet Democratic control of the U.S. Congress would enable President-elect Joe Biden to borrow and spend heavily. Fred Katayama reports.

01/06/2021

Starting a job? Dream big and don't be afraid to fail, says Wella CEO

Imagine starting a new job in a pandemic - as CEO?

Annie Young-Scrivner, the new CEO of Wella, offers this path to success: "Dream big, find your own destiny, take calculated risks, don’t be afraid of failure.”

https://www.reuters.com/article/idUSKBN29B0FQ

As a little girl who spoke no English when she moved to the United States from Taiwan, Annie Young-Scrivner learned early on about challenging times.

01/05/2021

Bitcoin emergence as 'digital gold' could lift price to $146,000, says JPM

Interest in the world’s biggest cryptocurrency has soared this year, with investors viewing #bitcoin as a hedge against inflation and an alternative to the depreciating dollar reut.rs/2JKw23W

Digital currency bitcoin has emerged as a rival to gold and could trade as high as $146,000 if it becomes established as a safe-haven asset, investment bank JPMorgan (JPM) said on Tuesday.

01/04/2021

A 2021 vision: what every fund manager is buying (or selling)

Dump the dollar! Buy emerging markets! Stay sustainable! These are among the consensus trades investment banks and asset managers think will dominate financial markets in 2021.

👇Here are five trades the world’s biggest investment houses seem to agree on www.reut.rs/2X4kpb8

Dump the dollar! Buy emerging markets! Stay sustainable! These are among the consensus trades investment banks and asset managers reckon will dominate financial markets in 2021.

12/18/2020

Analysis: Reopening rally? Speculative bubble? These days, it's hard to tell

Surging U.S. stocks are stretching equity valuations near their highest levels in years, leaving investors to determine whether the rally signals a coming economic rebound or a bubble in the midst of a global pandemic.

Surging U.S. stocks are stretching equity valuations near their highest levels in years, leaving investors to determine whether the rally signals a coming economic rebound or an asset price bubble in the midst of a global pandemic.

12/17/2020

Column: Six Social Security fixes that should be on Biden’s agenda next year

The role of Social Security has never been more important as the U.S. attempts to dig out from the COVID-19 disaster. Here are six Social Security moves the new president and Congress should make, writes RetirementRevised.

President-elect Joe Biden will be plenty busy battling the pandemic when he takes office next month, and Social Security will likely not be on top of his agenda. But nudging higher reforms for Social Security, our most important retirement program, would be a very smart...

12/16/2020

Fed reflects "fair amount of optimism": strategist | Reuters Video

Summit Place Financial Advisors' Liz Miller says the Fed's economic outlook and its pledge to keep buying bonds bode well for equity investors. But with yields expected to remain low, she tells Reuters' Fred Katayama why fixed income investors should consider preferred securities.

Summit Place Financial Advisors' Liz Miller says the Fed's economic outlook and its pledge to keep buying bonds bode well for equity investors. But with yields expected to remain low, she tells Reuters' Fred Katayama why fixed income investors should consider preferred securities.

12/16/2020

Bitcoin shatters $20,000 barrier for first time

#Bitcoin has smashed through $20,000 for the first time. It has gained more than 170% this year, buoyed by demand from larger investors.

Bitcoin smashed through $20,000 for the first time on Wednesday, its highest ever, amid increased institutional and corporate interest.

12/15/2020

Feeling like a fraud at work? 3 ways to combat 'Imposter Syndrome'

75% of female executives across industries have experienced some level of Imposter Syndrome, @KPMG reports.

Here are three strategies to cope. #WorldAtWork

June Caloroso has a real problem with someone at work named Lindsey.

12/14/2020

Vaccine to act as economic stimulus: Investor | Reuters Video

Investors should start thinking about what the world is going to look like in 6-12 months with the distribution of the COVID-19 vaccine and a new president.

WATCH: https://reut.rs/386d1kv

The distribution of the COVID-19 vaccine suggests the U.S. economy will be stronger six-to-twelve months from now, as the vaccine spurs economic activity and saves jobs. Investors should place their reopening bets now, Payne Capital Management President Ryan Payne told Reuters Business Correspondent...

12/11/2020

Tech craze 2020 vs 1999: is this time different? | Reuters Video

Tech IPOs are all the rage again, but the companies making market debuts this year are different from the ones which took part in the 1999 dot-com bubble. For one thing, companies like Airbnb have long proven themselves as private companies before going public.

WATCH: https://reut.rs/3m2zioB

Tech IPOs are all the rage again, but the companies making market debuts this year are different from the ones which took part in the 1999 dot-com bubble, Art Hogan of National Securities told Reuters Business Correspondent Conway G. Gittens. For one thing, companies like Airbnb have long proven the...

12/10/2020

Have tech valuations reached "crazy" status yet?

WATCH: https://www.reuters.com/video/watch/tech-valuations-are-in-crazy-town-invest-idOVD8AJGJV

12/10/2020

Leveraging the lessons of 2020 to reimagine work and well being -report

Has your company added more "well-being" support this year?

According to Deloitte's 2021 Global Human Capital Trends report, released on Thursday, seven in 10 respondents said the shift to remote work had a positive impact on well-being.

How can companies leverage the lessons of 2020 to fundamentally reimagine work and boost productivity?

12/08/2020

Nasdaq closes at record high as growth names get a lift

Investors should bet on downtrodden sectors but still hold onto defensive stocks to ward against volatility posed by the health crisis, says Dan Suzuki of RB Advisors.

Read more reut.rs/3gz9Kyl

The Nasdaq closed at a record high on Monday after investors moved into mega-cap growth stocks even as a new round of COVID-19 restrictions underscored the continuing economic impact of the pandemic on the United States.