Credit Suisse's $54B lifeline Credit Suisse (CS) will borrow as much as 50 billion francs ($54 billion) from the Swiss National Bank liquidity facility. The troubled Swiss bank also announced public tender offers by Credit Suisse International to repurchase certain OpCo senior debt securities for cash of up to ~3 billion francs. The news sent its Swiss shares over 32% higher today in morning trade, while its U.S.-listed shares gained 9% before the bell. Backdrop: Credit Suisse shares plunged almost 25% in Switzerland yesterday after the bank's top shareholder - Saudi National Bank Chairman Ammar Al Khudairy - ruled out offering further financial assistance. And on Tuesday, Credit Suisse disclosed a "material weakness" in its reporting procedures and was developing a remediation plan to add
Is It Too Late To Consider Buying The Boeing Company (NYSE:BA)? Today we're going to take a look at the well-established The Boeing Company (NYSE:BA). The company's stock received a lot of attention from a substantial price increase on the NYSE over the last few months. As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock. But what if there is still an opportunity to buy? Let’s examine Boeing’s valuation and outlook in more detail to determine if there’s still a bargain opportunity. Is Boeing Still Cheap? Great news for investors – Boeing is still trading at a fairly cheap price. According to my valuation, the intrinsic value for the stock is $354.00, which is above what the market is valuing the
Stock Market’s Fate Comes Down to the Next 13 Trading Sessions (Bloomberg) — Four major events over the next 13 trading sessions will be the key catalysts in determining whether this year’s stock-market revival gets derailed or starts rolling again after a February slump. It all begins Tuesday, when Federal Reserve Chair Jerome Powell delivers his two-day biannual monetary policy testimony on Capitol Hill. With the S&P 500 Index coming off its best week in a month, investors will be searching for any hint on the central bank’s interest-rate hiking path. “The market is clinging to every single positive thing Powell says,” Emily Hill, founding partner at Bowersock Capital, said. “The minute the word ‘disinflation’ left his lips in a speech earlier this year, the market soared.” Indeed, t
Buy more gold shares. Central banks continue to scoop up gold in 2023 as gold price holds the mid-$1,800 level After a record-setting year in 2022, central banks remain very interested in gold at the start of 2023, according to the World Gold Council (WGC). In January, central banks bought 31 tonnes of gold, a monthly increase of 16%, said WGC in a note Thursday. "This was also comfortably within the 20-60t range of reported purchases which has been in place over the last ten consecutive months of net buying," wrote Krishan Gopaul, senior analyst at the WGC. Most of the buying was done by three central banks, and they are not new players — Turkey, China, and Kazakhstan. Turkey was the largest official gold buyer in 2022, and China is known to have aggressively stepped up its gold pur
Natural Gas Prices Set For A Sustained Rally In 2023 Despite the recent drop in natural gas prices in Europe thanks to unseasonably warm weather, the commodity is set to end 2022 with a significant overall gain. What’s more, per a Reuters report, gas investors could look forward to another strong year in 2023 as most signs point to a sustained rally in natural gas in an environment of tight supply and solid demand. "From a fundamental perspective, the setup for most commodities next year is more bullish than it has been at any point since we first highlighted the supercycle in October 2020,” Reuters quoted a Goldman Sachs commodities outlook today. The rally in gas prices began last year as demand in Europe began to rise on the underperformance on renewables while supply had to catch up. T
Why Is China Buying Up So Much U.S. Oil? China is on a global crude oil buying spree, snapping up oil from the U.S., U.A.E, Saudi Arabia and Russia. Ten supertankers are heading to the U.S. aiming to take advantage of a “remarkable, profitable arbitrage” opportunity sparked by President Biden’s SPR releases. The IEA noted in January that “China will drive nearly half this global demand growth even as the shape and speed of its reopening remains uncertain.” One of the most important bull thesis for crude in 2023 is that China, having permanently shelved its zero Covid policies, will unleash a global buying spree as the Chinese economy sharply roars back to life. On Tuesday, we got another indication of precisely that: Unipec, the largest oil trader in China and the trading unit of state-hel
79% of Warren Buffett's $338 Billion Portfolio Is Invested in Just 6 Stocks Warren Buffett has vastly outperformed the S&P 500 since becoming Berkshire Hathaway CEO in 1965. Because of Buffett's success, investors closely monitor Berkshire's quarterly 13F filings. Despite owning stakes in 49 securities, 79% of the Oracle of Omaha's investment portfolio is tied up in only a half-dozen stocks. The Oracle of Omaha tends to bet big on the companies he believes in. Few, if any, investors have a larger following than Berkshire Hathaway (BRK.A 0.35%) (BRK.B 0.17%) CEO Warren Buffett. That's because the Oracle of Omaha, as he's now known, has vastly outperformed the benchmark S&P 500 since he became CEO in 1965. Through the end of 2021, Berkshire Hathaway's Class A shares (BRK.A) delivered
‘A tsunami effect’: ETF fund manager bets on the robot boom While horror robot movie “M3gan” racks up millions at the winter box office, the ETF industry is seeing opportunities from the controversial technology. According to ROBO Global CIO William Studebaker, the economic benefits could be staggering. “You’re going to see a tsunami effect in terms of prices coming down as a result of deflationary pressures from these technologies,” he told CNBC’s “ETF Edge” on Wednesday. “It’s in industrial manufacturing, health care, AG [agriculture], security and surveillance … and others.” Studebaker manages the ROBO Global Robotics and Automation Index ETF, which is up 12% so far this year. The exchange-traded fund’s holdings include IPG Photonic, Zebra Technologies, Rockwell Automation and Teradyne.
Bitcoin And Crypto Now Braced For A China Earthquake After $100 Billion Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana Price Rally A bitcoin and crypto sentiment shift could be underway, with traders increasingly cheering what appears to be a softening of China's stance toward crypto following its brutal crackdown in the summer of 2021 that wiped billions from the crypto market. "The big question is, in spite of interest rates going up and the dollar gaining strength, is there a catalyst that can push [the bitcoin price over $25,000?]," Gareth Soloway, the chief market strategist at Verified Investing, told Coindesk, pointing to the China narrative as attracting new bitcoin buyers that had been spooked by Federal Reserve interest rate hikes and the threat of looming U.S. regulat