S&P Futures
2,430.75
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- Businessbarrons.com•3 hours ago
Singapore Bank Stocks: UOB Is Top Pick, Upgraded to Buy
Singapore's big three bank stocks have reported their first half earnings but United Overseas Bank has emerged as the pick of the bunch for Maybank Kim Eng. The brokerage upgraded UOB (U11.SG) to buy from hold on its 'selective lending' strategy and its lower exposure to the oil and gas sector: We like UOB’s ‘selective-lending’ strategy as it remains disciplined in its pricing to ensure no significant margin compression from high-quality customers, whom tend to have lower lending rates due to lower credit risks. Customer spreads in 2Q17 were maintained at 2.14%, higher than peers’ 1.96-2.03%. With a broadening economic recovery and rebound in Singapore’s property market, we expect loan growth
- Businessbarrons.com•18 hours ago
More Margin Pain Ahead For Retailers
From sporting goods to auto parts, earnings reports weighed on hardline retailers last week. Today, Credit Suisse's Seth Sigman and his team assess the damage. Sigman believes that retail is not dead, but it needs to "change and take the pain," and that means more pressure on margins ahead. He writes that retail is still in the early stages of an investment cycle, and while EBIT (earnings before interest and taxes)...
- Businessbarrons.com•14 hours ago
The Hot Stock: Freeport-McMoRan Gains 4.1%
Freeport-McMoRan (FCX) soared to the top of the S&P 500 today as access to an Indonesia copper mine was restored after it was blocked by former workers. Freeport-McMoRan gained 4.1% to $14.73, while the S&P 500 ticked up 0.1% to 2,428.37. The Materials Select Sector SPDR ETF (XLB) advanced 0.1% to $53.76. Jefferies strategist Sean Darby and team note that everything is going right for materials stocks...except sentiment. They explain: In a rare moment of time, just about every positive factor that affects the sector is perfectly aligned. In a series of coincidences, the sector is experiencing and enjoying underlying pricing power, a weak dollar, an expansionary China budget and M&A. Although
