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Stocks Tick Up After Goldman Earnings Soar, But Key Economic Indicator Shows Consumer Worries

Stocks Tick Up After Goldman Earnings Soar, But Key Economic Indicator Shows Consumer Worries

Topline

Stocks barely budged Wednesday morning after a mixed bag of pre-market earnings results revealed that the economic recovery is still suffering from weak fundamentals.

Key Facts

As of 9:35 a.m., the Dow Jones Industrial Average had edged up .1%, while the S&P 500 and the tech-heavy Nasdaq ticked up .2% and .5%, respectively.

Shares of Goldman Sachs climbed 1% after the New York-based investment banking giant reported $3.5 billion in profits and a 30% surge in revenue fueled by the mid-pandemic trading boom. 

Bank of America, on the other hand, failed to impress investors, posting mixed results for the third quarter that beat analysts expectations on profits, which totaled $4.9 billion, but fell behind on revenue expectations; its shares are down nearly 3%.

Wells Fargo shares are down 3% after reporting a 56% drop in quarterly earnings due to decreased interest income in light of historically low interest rates, the firm said.

Global markets were also fairly tepid on Wednesday: As of market open, the United Kingdom’s FTSE 100 had fallen .4%, and France’s CAC 40 was virtually flat, while Japan’s Nikkei 225 ended Wednesday up just .1%.

The consumer price index for September–a key measure of inflation–came in slightly below expectations, rising .19% during the month and leading to an unchanged year-over-year rate of 1.7%.

Key Background

The Covid-19 pandemic threw the economy into a deep recession, and Federal Reserve Vice Chairman Richard Clarida said Wednesday morning that the U.S. economy needs another year–or maybe more–until it fully recovers. The recovery thus far has been marked by slowed job growth, layoffs that remain high and a volatile stock market that’s been rocked in recent weeks by mounting uncertainty around

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Decline And Slowdown Are Key Market Concepts – Use Them To Your Advantage (NASDAQ:TLT)

Decline And Slowdown Are Key Market Concepts – Use Them To Your Advantage (NASDAQ:TLT)

In the 2010 decade there have been three distinct business cycles based on several indicators such as growth in manufacturing employment, heavy truck sales, credit spreads, or purchasing managers surveys. The three cycles spanned 2009-2013, 2013-2016, and 2016-2020.

Their pattern is important because they had an impact on several asset prices. The last business cycle – the one going from 2016 to 2020 – provides, for instance, imported lessons on how long-dated Treasury yields behave.

HEAVY TRUCK SALESSome investors focus on the direction of the economy. Is it going up or down? What happened between 2016 and 2020 should help to recognize the power of small changes in the growth of business activity on investment timing.

In 2019 Wall Street agreed the economy was expanding and bond prices were extremely overbought. Yields had to move higher and prices lower. Several major strategists embraced this view.

YIELDS ON 10-YEAR TREASURY BONDSWall Street did not recognize business activity was already in the midst of a slowdown which started in mid-2018. Yields on 10-year Treasury bonds had bottomed in 2016 at around 1.4% and then rose until they peaked at 3.0% in 2018 as growth in business activity was rising. They began to decline in 2018 as the economy slowed down to finish at about 1.4% in 2019.

These levels were excessively low – or so Wall Street kept saying at that time. They could not go much lower given the economic expansion. Analysts repeated bonds were overbought and yields had to rise because the economy was still growing and the easy monetary policy of the Fed implied only one outcome – rising inflation.

Of course, rising inflation would have been the kiss of death for bonds. Hence the conclusion yields had only one way to go – sharply higher. Instead yields kept trading around 1.4% (pre-pandemic) to fall

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Insights on Medical Marijuana Market within the Pharmaceuticals Sector | Increasing Production of Medical Marijuana to Emerge as a Key Driver | Technavio

Insights on Medical Marijuana Market within the Pharmaceuticals Sector | Increasing Production of Medical Marijuana to Emerge as a Key Driver | Technavio

LONDON–(BUSINESS WIRE)–The global medical marijuana market is expected to grow at a CAGR of over 24% during 2020-2024, according to the latest market research report by Technavio. The report provides a detailed analysis on the impact and new opportunities created by the COVID-19 pandemic. The report also helps clients keep up with new product launches in direct & indirect COVID-19 related markets.

Learn more about how COVID-19 is impacting the medical marijuana market – Request a free sample report

The demand for medical marijuana has increased significantly over the years. The growing demand has led many medical marijuana manufacturers to increase production. Besides, many governments worldwide are legalizing marijuana for medical applications, which has further increased demand. For instance, the Government of Manipur, India recently announced its plans to legalize marijuana for medical applications by encouraging start-ups that develop medical marijuana products. Such initiatives are expected to positively influence the growth of the global medical marijuana market during the forecast period.

Medical Marijuana Market: COVID-19 Impact Analysis on Related Markets

Global Legal Cannabis Market 2020-2024

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Global Cannabis-infused Edible Products Market 2020-2024

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Global Cannabis Testing Market 2020-2024

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Medical Marijuana Market: COVID-19 Impact Analysis on Parent Market

The global pharmaceuticals market is the parent market of the medical marijuana market. Within its scope, the pharmaceuticals market covers products and companies engaged in R&D or production of generic drugs, non-generic drugs, and veterinary drugs. Our report on the medical marijuana market offers a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as analysis on several large and small vendors active in the market including Aurora Cannabis, GW Pharmaceuticals, mCig, Medical Marijuana, and United Cannabis.

Technavio’s research report on the medical marijuana market identifies the

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Swimwear Market to reach USD 1.56 bn by 2024, Arena Spa and Chantelle Group emerge as Key Contributors to growth

Swimwear Market to reach USD 1.56 bn by 2024, Arena Spa and Chantelle Group emerge as Key Contributors to growth

Technavio has been monitoring the swimwear market and it is poised to grow by $ 1.56 bn during 2020-2024, progressing at a CAGR of almost 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201013005198/en/

Technavio has announced its latest market research report titled Global Swimwear Market 2020-2024 (Graphic: Business Wire)

Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19

Frequently Asked Questions:

  • What are the major trends in the market?
    The rise in the number of swimming pools is a major trend driving the growth of the. market

  • At what rate is the market projected to grow?
    The year-over-year growth for 2020 is estimated at -15.37% and the incremental growth of the market is anticipated to be $ 1.56 bn.

  • Who are the top players in the market?
    Arena Spa, Chantelle Group, Gildan Activewear Inc., LVMH Moet Hennessy – Louis Vuitton, Perry Ellis International Inc., PVH Corp., Seafolly Holdings Pty. Ltd., SUNSETS Inc., Tapestry Inc., and Wacoal Holdings Corp., are some of the major market participants.

  • What is the key market driver?
    The increasing demand for long-sleeve swimsuits is one of the major factors driving the market.

  • How big is the APAC market?
    The APAC region will contribute 39% of the market share.

     

The market is fragmented, and the degree of

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Insights on Antibiotics Market within the Pharmaceuticals Sector | Rising Prevalence of Infectious Diseases to Emerge as a Key Driver

Insights on Antibiotics Market within the Pharmaceuticals Sector | Rising Prevalence of Infectious Diseases to Emerge as a Key Driver

The global antibiotics market is expected to grow at a CAGR of over 3% during 2020-2024, according to the latest market research report by Technavio. The report provides a detailed analysis on the impact and new opportunities created by the COVID-19 pandemic. The report also helps clients keep up with new product launches in direct & indirect COVID-19 related markets.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201012005594/en/

Technavio has announced its latest market research report titled Global Antibiotics Market 2020-2024 (Graphic: Business Wire)

Learn more about how COVID-19 is impacting the antibiotics market – Request a free sample report

High population densities, rising globalization, and urbanization have increased the colonization of disease-causing pathogens worldwide. Also, the destruction of natural habitats of animals led by deforestation has increased the localization of animals near human habitats. This has increased the risk of infection transmission from animals to humans. In addition, the rising number of dams, poor sanitization, and improper waste management systems have further increased the prevalence of infectious diseases over the years. All these factors are fueling the growth of the global antibiotics market.

Antibiotics Market: COVID-19 Impact Analysis on Related Markets

Global Penicillin Market 2020-2024

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Global Throat Pastilles and Cough Drops Market 2020-2024

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Global Gonorrhea Therapeutics Market 2020-2024

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Antibiotics Market: COVID-19 Impact Analysis on Parent Market

The global pharmaceuticals market is the parent market of the antibiotics market. Within its scope, the pharmaceuticals market covers products and companies engaged in R&D or production of generic drugs, non-generic drugs, and veterinary drugs. Our report on the antibiotics market offers a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as analysis on several large and small vendors active in the market

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