Kenneth Leech, former co-CIO of Western Asset Management, has been charged with fraud for allegedly running a $600 million "cherry-picking" scheme, favoring certain clients in trade allocations. The SEC claims he misled investors and lied during testimony. Leech, who has a nearly 50-year unblemished career, plans to vigorously defend himself against the charges.
A hedge fund has made a significant investment in a key stock within the oil and gas supply chain, projecting that its value could increase by over 300%. This bold move highlights the fund's confidence in the stock's potential for substantial growth in the market.
UBS is focusing on high net-worth women and not-for-profits in Australia, with female clients now outnumbering male clients. The firm aims to recover market share post-Credit Suisse merger, leveraging a strong gender mix among its advisers and responding to increased demand for diverse investment opportunities. Not-for-profit requests have surged, with average investments rising significantly as organizations seek to diversify their portfolios.
00:03 26.11.2024
Stock futures rose slightly on Monday following a record close for the Dow Jones Industrial Average, which gained over 440 points. The S&P 500 and Nasdaq 100 also saw modest increases, while Kohl’s shares fell 4% after announcing its CEO's upcoming departure. Investors are optimistic about the new Treasury secretary pick, Scott Bessent, as they anticipate potential market-friendly policies, although the impact may take time to materialize.
Former German Chancellor Angela Merkel and Bavaria’s Prime Minister Markus Soeder have expressed support for reforming Germany's strict borrowing limits. This marks a shift for the conservative Christian Democrats, who are leading in polls ahead of the February election. Merkel emphasized the need for increased defense spending and investment in critical areas to ensure social stability.
Guardant Health, Inc. is a precision oncology company that specializes in blood and tissue tests, offering a range of products including the Guardant360 suite and the GuardantOMNI Test for advanced cancer stages. The company also provides integrated software solutions for clinical and biopharmaceutical clients, alongside development services for companion diagnostics. Founded in 2011 and based in Palo Alto, California, Guardant Health collaborates with Illumina, Inc. to enhance cancer research through specimen sample sharing.
Federal Reserve Bank of Minneapolis President Neel Kashkari indicated that a further interest-rate cut is still a viable option for the central bank's December meeting. He stated that considering a 25-basis-point reduction remains a reasonable discussion among policymakers.
Apple's stock has historically thrived in Q4, averaging gains of around 35% by year-end, driven by product launches and holiday sales. Current market dynamics, including improved sentiment towards tech stocks and strong institutional support, suggest potential for further price appreciation, despite risks from supply chain issues and economic uncertainty. Key resistance is at $237, while a drop below $220 could signal short-term weakness.
IG
23:58 25.11.2024
Rackspace Technology will participate in the UBS Global Technology and AI Conference on December 4, 2024, from 10:55 AM to 11:25 AM MT. CEO Amar Maletira and CFO Mark Marino will engage in a fireside chat, which will be available via live webcast and replay on Rackspace's investor relations website.
23:54 25.11.2024
Australia's CPI and China's PMI are in focus as the AUD/USD gains support amid a softer US dollar. The US Dollar Index may face a corrective move lower, while Brent crude stabilizes amid geopolitical tensions. The ASX 200 is testing upper channel resistance, and the Russell 2000 is retesting multi-year highs, supported by favorable seasonality for small-caps.
IG
23:40 25.11.2024
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