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After surprising traders with a 50 basis point rate cut in August, many traders thought the RBNZ would pass on a September 24 rate cut and trim on November 12 instead. However, this week’s price action indicates that traders aren’t taking any chances with another surprise and have already begun to price in a rate cut for next week.
The Australian dollar initially tried to rally during the week, but then broke down significantly as we continue to see a lot of concerns when it comes to the US/China trade situation and of course global growth in general which Australia is highly sensitive to.
Jim Cramer thinks that Square stock is worth owning. The stock has upside potential. According to Cramer, investors should buy the stock when it falls.
The Australian dollar initially tried to rally during the trading session on Friday, but then struggled above the 0.68 level. By doing so, the market turned right back around to form a very bearish looking candle stick.
Based on the early price action and the current price at .6804, the direction of the AUD/USD the rest of the session on Friday is likely to be determined by trader reaction to the short-term 50% level at .6791.
It’s been a sleepy start to the Friday session, with little movement from the Australian, NZ or Chinese currencies. With no fundamentals on Friday for the markets to chew on, I expect a quiet trading day as we wrap up the week.
Another flat day for US equities as the S&P; 500 Index closed little changed, as investors searched but failed to find a decent incentive to buy suggesting investors remain mildly disappointed by the latest round of central bank policy.
(Bloomberg) -- Pete Buttigieg on Thursday challenged Elizabeth Warren to explain how she would pay for her $30 trillion health care proposal, saying she was being “extremely evasive” about whether it would raise taxes on the middle class.“Senator Warren is known for being straightforward and was extremely evasive when asked that question and we’ve seen that repeatedly,” Buttigieg, the mayor of South Bend, Indiana, said on CNN. “I think it’s puzzling that when everybody knows the answer to that question of whether her plan or Senator Sanders’ plan will raise middle class taxes is ‘yes,’ why you wouldn’t just say so and explain why you think that’s the better way forward?Asked about Buttigieg”s comment at a campaign stop in Iowa City, Warren didn’t address the issue of taxes, but said her Medicare for All plan would decrease “costs to the family.”“Insurance companies sucked $23 billion dollars out of the system last year in profits and they made every dollar of those profits by saying ‘no’ to health care coverage from Americans and that has got to stop,” Warren added. “So we’ve got premiums, and we’ve got families paying and paying and paying.”As Warren has risen in the polls in recent weeks, she has faced repeated questions about how she would finance a government-run universal health care system that she and Bernie Sanders support. She has rolled out several progressive policy proposals that she says would be paid for by her proposed wealth tax of 2% on fortunes of more than $50 million, and 3% of more than $1 billion.Bernie Sanders First to Reach 1 Million Donors (3:12 p.m.)Bernie Sanders’ presidential campaign has 1 million individual donors, making him the first Democrat to reach the milestone in this cycle, his campaign said Thursday.“Our strength is in numbers, and that is why Bernie Sanders is the only candidate who is able to say his campaign will rely only on grassroots funding in both the primary and against Donald Trump,” Campaign Manager Faiz Shakir said in a statement. “Like all campaigns we are beholden to our donors, and we’re proud to stand with 1 million working people.”Sanders’ campaign relied on small-dollar donors in 2016. In the 2020 race, other Democrats like Senator Elizabeth Warren of Massachusetts also have sworn off large-dollar fundraisers in the Democratic primary. Many donors have given more than once, and the Sanders campaign said that it had received 1 million contributions in April; Warren achieved that milestone in July.Teaching is the most common occupation of Sanders’ donors and the top employers are Starbucks, Walmart and Amazon, according to the campaign. -- Emma KineryBiden Picks Up Three Congressional Endorsements (3:12 p.m.)Joe Biden picked up three more endorsements from House members as his campaign seeks to cast him as an increasingly inevitable choice, especially for nonwhite voters.Two members of the Congressional Black Caucus, Emanuel Cleaver of Missouri and G.K. Butterfield of North Carolina, endorsed the former vice president on Thursday. Charlie Crist of Florida, a Democratic member of the House who used to be the Republican governor of his state, also backed him.Earlier this week, Biden got the support of Representative Vicente Gonzalez of Texas, who had pulled his endorsement from presidential hopeful Julian Castro after Castro attempted to raise questions about Biden’s age and memory during last week’s Democratic debate.In all, Biden now has 16 endorsements from House members, a tie with Senator Kamala Harris, who has racked up support from the CBC and fellow Californians. But Biden has the support of five senators, while Harris has not received any endorsements from the Senate.Beto O’Rourke Gets a Roasting in Reddit Q&A (2:27 p.m.)Beto O’Rourke went looking for upvotes on Reddit, but he ended up getting downvotes.The Democratic presidential candidate signed up to answer users’ questions on one of the site’s popular “Ask Me Anything” forums, and it didn’t go well.The questions are typically a mix of serious and offbeat, with a popular query being whether you’d rather fight 100 duck-sized horses or one horse-sized duck.But O’Rourke instead faced harsh questions about why he’s not running for Senate, his proposal for a mandatory buyback of assault weapons and a drunk-driving arrest from 1998.The former Texas congressman gamely answered some of the tougher questions, but his responses received thousands of downvotes -- a way that Reddit users signal disapproval. Many of the other upvoted questions that O’Rourke declined to answer centered on gun rights. -- Ryan Teague BeckwithPete Buttigieg Rolls Out Health-Care Plan (6:00 a.m.)Pete Buttigieg unveiled a “Medicare for All Who Want It” plan on Thursday that would create a government-run option but also allows consumers to keep their private insurance.The proposal parallels the “Medicare for Choice” plan of presidential front-runner Joe Biden and offers a sharp contrast to Bernie Sanders’ “Medicare for All,” which would end private coverage.Buttigieg’s proposal “doesn’t force Americans off private plans they may want to keep, but offers them a meaningful public alternative,” his campaign said.The South Bend, Indiana, mayor proposed bolstering Obamacare subsidies, capping premium payments at 8.5% of income and limiting out-of-pocket costs for seniors on Medicare.His campaign estimated the plan would cost about $1.5 trillion over 10 years and would be paid for by cost savings on provider payments as well as an overhaul of the corporate tax code that would raise revenue. -- Sahil KapurCOMING UPMSNBC will host a seven-hour climate change forum on Thursday and Friday. The event will feature 11 Democratic candidates: Michael Bennet, Cory Booker, Steve Bullock, Buttigieg, Julian Castro, John Delaney, Tim Ryan, Sanders, Marianne Williamson, Andrew Yang and Tom Steyer. Republican primary challenger Bill Weld will also participate.The United Food and Commercial Workers union will host forums in Iowa and Michigan with Democratic presidential candidates on Sept. 29 and Oct. 13. Bennet, Biden, Booker, Buttigieg, Kamala Harris, Sanders and Elizabeth Warren have confirmed that they will attend.\--With assistance from Sahil Kapur, Ryan Teague Beckwith, Jennifer Epstein and Emma Kinery.To contact the reporter on this story: Misyrlena Egkolfopoulou in Washington at email@example.comTo contact the editors responsible for this story: Wendy Benjaminson at firstname.lastname@example.org, Max Berley, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Dow Jones Industrial Average fell 53.44 points (or 0.2%) today, possibly because the market gave a thumbs up to yesterday's 0.25% rate cut by the Fed.
(Bloomberg) -- PayPal Holdings Inc. kicked off its debut bond offering as the investment-grade market reignited.The digital payments company sold $5 billion of senior unsecured bonds in four parts. The longest portion of the offering, a 10-year security, will yield 1.1 percentage points above Treasuries, after initially discussing between 1.3 and 1.35 percentage points, according to a person with knowledge of the matter, who asked not to be identified as the details are private.Amid a Federal Reserve meeting Wednesday, investment-grade borrowers stood down for the first time this month, halting what’s been a blistering pace of issuance. Activity picked up speed Thursday, with PayPal and five other high-grade borrowers tapping the market.Investors had put in orders for more than $20 billion of Paypal bonds at noon in New York, according to people familiar with the demand. The company has about $3 billion of debt outstanding between loans and other credit facilities, which the bond offering -- the company’s first -- will help refinance. The remainder of the proceeds will be used for general corporate purposes, which could include other refinancings, share repurchases and possible acquisitions, among other uses, according to a statement Thursday.“Given the strong secular trends and credit metrics, we expect there to be demand for this defensive credit, and that the pricing will tighten,” from initial talk, CreditSights analyst Jordan Chalfin said in a report earlier Thursday.Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley managed the bond sale, per the statement.\--With assistance from Michael Gambale and Brian Smith.To contact the reporter on this story: Molly Smith in New York at email@example.comTo contact the editors responsible for this story: Nikolaj Gammeltoft at firstname.lastname@example.org, Dawn McCartyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
In this article we are going to estimate the intrinsic value of Diamondback Energy, Inc. (NASDAQ:FANG) by taking the...
The Aussie dollar fell a bit during the trading session, dipping below the 0.68 handle, an area that has previously been resistance, and now is being tested to see if it will in fact told.
The Zacks Analyst Blog Highlights: Pioneer Natural Resources, Concho Resources, Callon Petroleum, Parsley Energy and Diamondback Energy