Shares in Chipotle Mexican Grill Inc. were falling slightly Wednesday after an analyst downgraded the stock, claiming excessive labor costs. Bank of American Merrill Lynch downgraded Chipotle and cut its earnings targets for 2018 and 2019, saying the struggling restaurant chain will have trouble cutting back labor costs any further than it already has.
Bitcoin smashed through the $5,000 barrier for the first time on Thursday, jumping as much as 8 percent on the day as investors shrugged off the latest warnings on the risks of buying into the booming cryptocurrency market. Less than a month ago, BTC/USD was trading below $3000 for a while, following a crash from $4980.
Bitcoin, the biggest and best-known cryptocurrency, has chalked up a more than fivefold increase in price this year.
Goldman Sachs wants to expand its investment bank in Switzerland and is in the process of upgrading its trading operations in Zurich to a branch from a representative office, a source familiar with the matter said on Thursday, aas Bloomberg News reported.
The change would allow Goldman Sachs to do a wider range of broker/dealer-type activities, and does not involve the New York-based bank expanding in the wealth management or advisory businesses, the person said.
University of Chicago professor Richard Thaler may have won the Nobel Economics Prize on Monday for his work on behavioural economics, but the behaviour of investors has him stumped.
Thaler said on Tuesday he is puzzled by the steady rise of global stock markets in recent years, even as many countries are gripped by political and social drama.
– After an especially strong first quarter (+1.9% year-on-year), growth surprised once again in the second quarter (+2.2%). This pace is above potential and above its 2010-2015 average.
– Credit growth remains solid and beneficial to both companies and households
– Order books and economic surveys suggest that the positive trend will continue
– The political environment has become favourable after elections in France and the Netherlands
In the wake of Sunday night’s terrible shooting at the Mandalay Bay Hotel in Las Vegas, gun makers are certain to come in for searing public criticism. They’re also due for something else: a jump in stock prices.
Yet gun stocks began climbing as soon as the market opened Monday, with shares of Sturm Ruger rising 4.7% in early trading. American Outdoor Brands, formally known as Smith & Wesson, was also up 4.5%.
HSBC has been fined $175 million on Friday for ‘unsafe and unsound’ practices in its currency trading business by Fed, as Reuters reported.
HSBC failed to monitor chat rooms where traders swapped information about investment positions, the U.S. central bank said, echoing findings by other regulators investigating the $5 trillion-a-day foreign exchange or FX market.
This summer I wrote an article about the suggestion of stalking the small cap stocks Russel 2000 Index (1). Just like a cat stalks its prey looking for the best possible moment to pounce, so a trader can stalk an entry to get the best price for entry.
The reason was because on this Index it is present a not so common pattern: the “orthodox broadening formation” (2). This kind of pattern was present also on the Dow Jones Industrial Index, but it was luckily negated (3).
Last week we had a potential and positive sign that also on this Index the pattern could be negated. We have several signs of strength, but we are still in the early stages of potential medium-term growth.
