Mixed global markets | Calamatta Cuschieri

U.S. stocks rebounded from losses sparked by North Korea’s firing of a missile over Japan as investors speculated the event wouldn’t lead to a wider conflagration.

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Calamatta Cuschieri
30 August 2017, 10:38am
Global markets were mixed on Tuesday
Global markets were mixed on Tuesday
U.S. stocks rebounded from losses sparked by North Korea’s firing of a missile over Japan, as investors speculated the event wouldn’t lead to a wider conflagration. The S&P 500 Index’s reversal was the biggest turnaround since the day after the November election and the Dow Jones Industrial Average booked its best recovery from an intraday low since early December, marking a nearly 200-point swing into positive territory.

Equity indexes in Japan, Hong Kong and South Korea also rose after the U.S. stock rebound. However, geopolitical jitters affected European markets. All sectors fell and among the only bright spots were gold miners Randgold Resources and Fresnillo, as the price of gold soared to a 9 ½ month high as investors rushed into safe haven assets.

WhopperCoin – Burger King’s cryptocurrency

Fast-food chain Burger King has launched its own crypto-currency, called WhopperCoin, in Russia. Russian customers will be able to buy a Whopper with the virtual cash, once they have amassed 1,700 whoppercoins. They will be able to claim one coin for every Russian Ruble they spend on the Whopper sandwich.

Burger King has partnered with crypto-cash start-up Waves to create and run the scheme. The tech company will run the blockchain ledger for the coin to keep track of who has coins and what has been done with them. The company said it would release Apple and Android apps next month so people could save, share and trade their wallet full of whoppercoins.

Goldman breaks tradition; explains trading strategies

US investment bank, Goldman Sachs, will detail plans to turn around performance at its core bond-trading unit next month, after unusual pressure from large investors frustrated by vague explanations of its troubles. Investors had been left unsettled when Goldman reported a stunning 40-percent decline in bond-trading revenue, and in an attempt to soothe investor relations on the operations, chief financial officer Marty Chavez simply said: “It could be secular, it could be cyclical, doesn’t matter, who knows?”

The appearance of co-chief operation officer, Harvey Schwartz, in September however may help turn the tide. A former co-head of securities and Chavez’s predecessor, Schwartz has developed a reputation for explaining Goldman’s approach to complicated issues, like capital rules, in a way that investors understand and appreciate.

 

Disclaimer:

This article was issued by Peter Petrov, Junior Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.

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