Swiss banking giant UBS on Tuesday narrowly beat fourth-quarter earnings expectations and announced that it would recommence share buybacks worth $1 billion in the second half of the year.
Ken Griffin’s Citadel hedge fund rose 1.9% in January as volatility ramped up
Citadel’s multistrategy flagship Wellington fund climbed 1.9% in January, following a 15.3% gain last year.
Fed’s Kashkari backs sentiment that policymakers can take their time cutting interest rates
Kashkari said economic developments have shown that Fed policy is not as restrictive on growth as it appears on the surface.
Eli Lilly results blow past estimates on strong Zepbound launch, surging Mounjaro revenue
The quarterly results are the first to include sales of Eli Lilly’s new weight loss drug Zepbound, which won FDA approval in early November.
BP shares rise 5% after British oil giant announces plans to boost shareholder returns
British oil giant BP on Tuesday announced plans to boost shareholder returns, even after a sharp drop in full-year profits aligned with lower oil prices.
Nintendo hikes sales forecast of flagship Switch console to 15.5 million units
Nintendo said it now expects to sell 15.5 million of its flagship Switch consoles in its current fiscal year, upping a previous forecast of 15 million.
UBS beats earnings expectations, announces up to $1 billion share buyback
Swiss banking giant UBS on Tuesday narrowly beat fourth-quarter earnings expectations and announced that it would recommence share buybacks worth $1 billion in the second half of the year.
Palantir stock jumps 19% as AI demand drives revenue beat
Palantir reported fourth-quarter earnings after the bell Monday.
Heads up: Fedspeak one to watch in the session ahead
This week won’t feature the sort of hot and heavy data docket that we got last week. That will only continue next week when we get to the US CPI report, which arguably is still the most important data point for markets. As for the remainder of this week, the focus looks set to turn towards what Fed policymakers have to say instead.
It is now time to see what the others have to say after Powell said that a March move isn’t the base case. Will they follow up with a similar view? Or are we going to see a dance between more hawkish and dovish commentary? For today, here is the agenda as outlined by Adam earlier.
This article was written by Justin Low at www.forexlive.com.
China’s exchanges said to be restricting stock selling by some hedge funds
According to Reuters, a quant hedge fund trader in southern China said that „our line was unplugged“. Adding that orders to sell stocks on the fund’s broking platform were rejected. In a similar case, a Shanghai-based quant fund manager said that they could not go through with sell orders today as the broker’s trading system would „decline orders“.
Adding to the story is a hedge fund manager in northern China claiming that his firm could tweak positions but wasn’t able to reduce holdings by much, due to „guidance“ by regulators. It isn’t clear how widespread this directive by Chinese authorities is and how many hedge funds are directly impacted as a result.
If we’re already reaching this point, it goes without saying how desperate the times are at the moment. I mean, to start targeting private funds? Sheesh.
There is no doubt that the exodus out of Chinese equities is looking really, really ugly. But this isn’t going to inspire much confidence, especially if local authorities are not taking the right steps to actually get to the root of the problem in China.
This article was written by Justin Low at www.forexlive.com.