Brokerage Charles Schwab announced its plan to buy TD Ameritrade. With a $26 billion price tag, this merger of brokerage giants has a bigger number involved: Total client assets.
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| |  Good morning. Brokerage Charles Schwab announced its plan to buy TD Ameritrade. With a $26 billion price tag, this merger of brokerage giants has a bigger number involved: Total client assets.
The buy will bring Schwab's total client assets to a staggering $5 trillion, a level where, even with low or zero trading costs, the financial giant will still be able to generate massive fees. Even more important? These big mergers that reshape the industry are also typically a sign of a bull market getting a bit out of control. That doesn't mean an immediate crash is ahead, but it's another yellow flag for investors to be cautious. | | | |
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 | DOW 27,765.75 | -0.20% | | |
| S&P 3,103.47 | -0.16% | | |
| NASDAQ 8,606.21 | -0.24% | | |
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| *As of market close |
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| • | Stocks slid again, but stayed in a narrow trading range throughout the day. | | | • | Oil rose 2.5 percent, to $58.41 per barrel. | | | • | Gold dropped 0.6 percent, to $1,465per ounce. | | | • | Cryptocurrencies faced a steep drop, with bitcoin plunging 5 percent to $7,614. . | | |
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| Two Industrial Plays for a Trade War Recovery | |
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We're ready to move on from the trade war. The headlines, which have treated negotiations for better trading practices between the United States and China, have been like a horse race before an election.
We're not alone wanting this over. Many companies, looking to grow in China or looking to avoid escalating tariffs, feel the same way.
While apparel and other low-cost goods seem like the best beneficiary from a trade deal resolution, industrials could perform surprisingly well.
» FULL STORY |
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| Insider Trading Reports: Telenav Inc. (TNAV) | |
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H.P. Jin, CEO of Telenav (TNAV), bought 150,000 shares. The buy cost over $730,000, and increased his stake by 6.5 percent.
Insider data at the company shows large sales earlier in the year before a steep drop in shares, and an otherwise mixed history of insider buying and selling. Insiders seem to have a good eye on buying shares when out of favor, and selling when in.
Even with this trading, insiders own over 20 percent of the company's shares.
» FULL STORY |
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| Unusual Options Activity: Freeport McMoRan (FCX) | |
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Over 7,180 contracts traded on the Freeport McMoRan (FCX) May 2020 $13 call option, a six-fold surge in volume.
The trade, with shares currently around $11, is a bet on another $2 rally in the coming months—or another 18 percent gain from current levels.
Such a move is possible, as the 52-week high for shares is closer to $15 rather than $13. With shares starting to head higher in recent weeks, the trade looks like a profitable one.
» FULL STORY |
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| TOP | | | LB | 10.135% | | | | SCHW | 7.33% | | | | DVN | 3.736% | | | | NBL | 3.536% | | | | CPRT | 3.45% | | | | BOTTOM | | | ETFC | 9.333% | | | | KLAC | 6.956% | | | | AMAT | 5.381% | | | | CAG | 4.307% | | | | LRCX | 3.732% | | | |
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| This easing in financial conditions suggests not only that global growth is likely to pick up somewhat in absolute terms, but also that growth may come in stronger than currently predicted by the forecaster community. |
- Jan Hatzius, Goldman Sachs Chief Economist, on why the global slowdown may have hit its trough and future conditions may be better than expected.  |
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