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(Bloomberg) -- Australia, the world’s biggest iron ore exporter, predicts a rally in prices may plateau and warned of risks to demand given the market’s reliance on China’s steelmaking industry.The seaborne market should see a “cooling” toward the end of 2020 and potential shifts in Chinese steel output are the main driver for the iron ore price outlook, the Department of Industry, Science, Energy & Resources said in a quarterly report. Global steelmaking could contract sharply should a second coronavirus outbreak occur in China, or if Chinese government stimulus falls short of market expectations, it said.Iron ore prices have stumbled after surging to the highest in more than six years earlier in September on supply disruptions in Brazil and record steel output in China. Market watchers have warned this month of a near-term pullback in prices, though Citigroup Inc. said strong Chinese demand will support prices in a $100 to $120...
(Bloomberg) -- Emerging markets are heading toward the end of the third quarter with more reasons to be cautious than optimistic.Developing-nation stocks, currencies and bonds had their worst week in the five days through Friday since the coronavirus pandemic rocked global markets in March. The gap between implied volatility in emerging-market currencies and their Group-of-Seven peers is at the widest since June amid concerns over renewed lockdown measures and delays to further U.S. fiscal stimulus.Manufacturing reports from China, India, Brazil and South Africa that are being published this week are potentially less decisive for investors than the global sentiment toward risky assets. Investors are bracing for higher price swings around the U.S. November elections, with the first presidential debate between Donald Trump and challenger Joe Biden scheduled for Tuesday.And they’re being encouraged to move to the sidelines. Deutsche Bank AG is taking a “more defensive stance” on emerging-market credit as it...
Shareholders in Rite Aid Corporation (NYSE:RAD) had a terrible week, as shares crashed 26% to US$10.00 in the week......
Markets are volatile this month, with the magnitude of the shifts most pronounced in the tech-heavy NASDAQ. That index fell 7.5% from its peak – reached on September 2 – a slide pronounced enough to have investors questioning whether this is just a correction, or a true reversal of the bull market we saw through the summer. But in recent sessions, the index has been gaining; it entered the weekend on a high note, having added 2.3%. The fast rise in the NASDAQ during the summer was no fluke. It was based on the real contributions that tech companies are making to the economy and our lives. From the 5G rollout, to improvements in semiconductor chips, to the expansion of IoT and smart device capabilities – tech is everywhere, and it’s growing fast. The best part is, you don’t need to buy into the tech giants to take part. There are...
Homeowners and homebuyers have more time to take advantage of super-low rates....
A recent strengthening in the euro's exchange rate is a worry and will warrant a reaction from the European Central Bank if it drags inflation farther away from its goal, ECB policymaker Ignazio Visco said on Sunday. Visco also denied ECB policymakers were divided on the matter and said his views echoed those of the Executive Board. "The euro's recent strengthening is worrying us because it generates further downward pressures on prices at a time when inflation is already low," Visco, Italy's central bank governor, told an event in Trento....
The big box retailer could pull back toward the 300 level in coming weeks....
