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Are markets trading Monday in observance of Independence Day?
KPMG chief economist Constance Hunter, Veritas Financial managing partner Greg Branch and Kingsview Wealth Management CIO Scott Martin add their insights on the latest jobs report and today’s markets. The Fourth of July fell on Sunday this year, so various U.S. markets are observing the holiday Monday. Equity markets will be closed, but there will be trading in the futures markets — including stocks, oil and gold — until 1 p.m. ET. Trading in futures will resume normally at 6 p.m. GET FOX BUSINESS ON THE GO BY CLICKING HERE The bond market will be closed Monday so there will
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Shell (RDS.A) Makes $2.6B Profit in 2020 From Trading Business
Bloomberg Massive Cargo Ships Are Outrun by Nimble Fleet in New Speed Race (Bloomberg) — For years, container shipping was a rough business. Margins were minuscule, the risks were high and growth prospects bobbed with the unpredictable tides of global trade. That it’s now generating record profits is one of the great economic surprises of the pandemic.The transformation over the past year also debunks a premise expressed loudly by pundits and politicians in recent years that U.S.-China trade, the most vital route of international commerce, was heading inexorably down a path of steady decline. The world wants more from China
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ETH Gobbles Up Larger Share of Genesis Loan Book as Trading Firms Feast on DeFi Summer
Decentralized finance (DeFi) reshaped Genesis Capital’s portfolios over the summer. The firm, owned by CoinDesk parent company Digital Currency Group, saw the share of bitcoin in its loan portfolio drop as a percentage of total loans. The share of ether loans increased by five percentage points to 12.4{a25bda0f8ab6dac90e68079d6f038584ef6ac53f1f4621de3ad526e35cd6c0d6} of the loan book quarter-over-quarter. (To be clear, loans across asset classes increased quarter-over-quarter but ETH loans now take up a larger slice of the pie.) According to the lender’s report, this was mainly due to liquidity mining on DeFi protocols such as Compound, Aave and Uniswap. DeFi interest rate arbitrage drove
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A Cash Shell With a Small Loss-Making Business Attached Is Trading at a Discount
Investment thesis Consilium AB (OSTO:CONS B) is a family-controlled company currently trading at a discount to its net current asset value. The company recently sold its major business area, Marine & Safety, which left it with a large pile of cash on the balance sheet. The smaller business area, Safety Engineering, is the remaining operating business within Consilium, which has been struggling to reach profitability for the past couple of years. A smaller-than-expected special dividend disappointed shareholders, leading to an interesting entry point for investors with a belief in the capabilities of management to deploy the cash in an accretive
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Trading, Underwriting Business to Aid Goldman (GS) Q2 Earnings
Increase in client activities and rise in market volatility on the coronavirus concerns are likely to have aided trading revenues (both equity and fixed-income), driving Goldman Sachs’ GS second-quarter 2020 earnings, slated for a Jul 15 release. The global economic slowdown, the Federal Reserve’s accommodative stance and a number of activities in the quarter continued to impact economy and kept tickling trading counters, resulting in volatile market performance. Investors also continued to move toward safe havens like Treasury bonds and other commodities like gold on uncertain markets amid the coronavirus crisis. Hence, Goldman’s solid market revenues are expected to
