Stock Market Today


 

While it’s been reported that the U.S. Department of Labor has requested an 18-month delay in the implementation of the second phase of its fiduciary rule to July 2019 from January 2018, we see evidence that the U.S. financial industry has already begun reducing conflicts of interest between financial advisors and their clients.

The delay to the rule was largely expected, as President Trump directed the Department of Labor to restudy the effects of the rule.

advice advisor companies Department Labor fee Fiduciary financial Financial Services interest standard

 

War clouds are gathering over the Korean Peninsula, and we are reminded of what former defense secretary Donald Rumsfeld (almost) famously said: “You go to war with the president you have, not the president you might want or wish to have at a later time.

clouds defense Donald gathering Korean Peninsula President reminded Secretary War

 

August of 2017 isn't such a great time to be a shareholder of Chicago Bridge & Iron (CBI). This number was based on the assumption that the pro rata share of segment profit generated by each segment was the pro rata share each segment contributed to operating cash flow, and it's based on the assumption that CBI would have been capable of generating $380 million in operating cash flow per year without its two segment sales (which was the mid-point of 2017's guidance after the first quarter).

business CBI debt firm management multiple operating flow quarter sale segment

 

What Is Benchmark Capital, the VC That Sued Uber? [-0.03]

Posted on Aug. 11, 2017, 11:55 a.m. by 24/7 Wall St. @ [source]

If you are curious about Benchmark Capital, the venture capital firm that on Thursday filed a lawsuit against Travis Kalanick, the recently departed CEO of ride-hailing firm Uber — one of Benchmark’s own investments — don’t look for any information on the web.

In addition to the general partners listed on Benchmark’s Twitter account, Wikipedia also names Peter Fenton, Bill Gurley, Mitch Lasky and Sarah Tavel as general partners.

benchmark capital firm general partner investment lawsuit stock Twitter Uber venture

 

Total Coin Supply and Disinflation in ICOs [0.17]

Posted on Aug. 11, 2017, 11:53 a.m. by Dynamic Hedge @ [source]

Startups are doing ICOs and issuing protocol tokens rather than equity fundraising. One of many differences between an equity raise and an ICO is that ICOs have a new weird disinflation dynamic where your investment will almost certainly get diluted in a systematic way.

COIN equity future ICO investment investors money protocol relative supply

 

NEW DELHI: The Nifty50 took a 109-point hit on Friday to take its losing streak to the fifth trading session, the longest losing streak of 2017.The support at the 50-day exponential moving average (EMA) proved too weak, and the index now stares at its 100-day EMA at the 9,525 level.The index formed a pattern similar to the ‘long-legged Doji’ on the daily chart, and it needs to claim the 9,800 mark first to regain momentum.“The intensity of the fall, a 4 per cent cut on weekly basis, clearly pointed towards more pain going forward. If the Nifty50 is unable to get past the 9,800 mark in the next few sessions, the ongoing correction can extend to the next logical target placed around the 9,400 level,” said Mazhar Mohammad , Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in.At close, the index slipped 109 points, or 0.11 per cent, to 9,710.Mohammad advised traders to wait for proper consolidation and more stable signs before creating fresh long positions.

cent day EMA hit index Losing Nifty50 Taparia trading weekly

 

Wells Fargo has already admitted to charging people for overdrawing bank accounts that they didn't have and for car insurance that they didn't need.

For several years, Wells Fargo's merchant services division overcharged small businesses for processing credit card transactions, a lawsuit alleges.

accounts bank business claims CNNMoney fee insurance lawsuit leave Wells Fargo

 

The president retweeted a Twitter pollster Thursday. Last month, that pollster was the far-right meme account Truth Bombers, pushing conspiracies about murder and child sex rings.

Bombers far meme pollster President retweeted right Thursday truth Twitter

 

Mumbai: Hindalco reported an increase of 28% in revenue for the April-June quarter at Rs 10,407 crore even as net profit declined slightly on account of higher cost of raw materials as well as a special provisioning.The company reported a net profit of Rs 290 crore, down by 1.36% since the same quarter since last year. Hindalco's alumina refinery, Utkal reported a 207% increase in EBITDA at Rs 291 crore, on the back of higher realisation.

aluminium copper EBITDA higher net profit quarter reported Revenue Rs crore

 

10 Top Stocks Analysts Want You to Sell Now [-0.02]

Posted on Aug. 11, 2017, 11:35 a.m. by 24/7 Wall St. @ [source]

After weeks of new highs after new highs in the Dow and S&P 500, investors have finally started to see some selling of stocks in August. This implied 10% downside, but the valuation and turnaround don’t match up to BlackBerry’s new focus in advanced driver assisted systems software, which isn’t likely to ramp until 2019.

analyst August call consensus investors market rating shares stock week

 

DryShips blew through a key price level, on huge volume, that it sold off at last week.

Trading in DryShips Inc. (DRYS) started in a desultory fashion this week, but, beginning Tuesday August 8th, DRYS commenced a rally finishing up 24% from its $1.30 Monday close to a $1.77 close on Wednesday on decent volume.

August current DRY earnings equity issuance management remaining reverse stock Volume

 

OPEC is struggling to keep its promises.

OPEC and other major producers including Russia agreed to reduce output in November, part of an attempt to eliminate a global oil glut and boost prices.

agreed Agreement energy Friday IEA major oil OPEC producers struggling

 

Tech stocks could be set to continue outpacing other industries, an analyst has told CNBC.

Bailey said that despite some investors pulling out of tech stocks, they would soon return and pour money back into them.

Amazon analyst Bailey companies earnings Google investors money stocks tech

 

The Nifty50 index continued to experience selling pressure for the fifth consecutive session and corrected towards the 9,685 level in Friday’s session. The VIX has been holding above the 12.50-13 band and by nature it has a negative correlation with the Nifty50.Rising volatility with falling Put-Call Ratio suggest the bears are tightening their grip on the market.

cent corrected index lower Nifty50 session shifted strike VIX weekly

 

CWS Market Review – August 11, 2017 [0.13]

Posted on Aug. 11, 2017, 11:08 a.m. by Crossing Wall Street @ [source]

On Thursday, the S&P 500 dropped by 1.45% to close at 2,438.21. Put it this way: Since May 18, Thursday’s drop was five times greater than the damage of the sixth-largest loss.

cents Cinemark Dow earnings earnings report market report Ross stock Thursday

 

Stocks pulled back this week from record levels after jitters over escalating tensions with North Korea, and a handful of disappointing earnings reports weighed on investors.

Although we can't know what the near term will bring for stocks, Christine Benz outlined five steps investors can take in jittery markets .

analyst earnings investors jitters levels market news pulled Record stocks

 

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LONDON — A sell-off in global markets accelerated on Friday as tensions between the United States and North Korea escalated, driving investors toward havens.

Asian stock markets closed lower and European indexes opened sharply down, on fears that the verbal back-and-forth between Washington and Pyongyang had raised the risk of actual conflict.

European fell index investors Korea London lower markets opened stock

 

The S&P 500 has given up 1.3% over the last week, and the stock market fear index (the VIX) has risen over 53% during the same time period.

To frame this week’s discussion, here is a look at the percent gain and loss for the stock market volatility index (the VIX, also known as the “fear index”) and the S&P 500 (NYSEARCA:SPY) over the last week.

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