By Steve SearsGoldman Sachs is telling clients to hedge the bio-technology sector in anticipation of a sharp decline. Early Monday, the bank told clients to buy SPDR S&P Biotech ETF (XBI) December $230 puts. During the pre-market, the ETF was priced at $255, and the put was at $15.50.
SSPL via Getty Images
“These puts are about 10% out-of-the-money and cost about […]
By Steve SearsGoldman Sachs is telling clients to hedge the bio-technology sector in anticipation of a sharp decline. Early Monday, the bank told clients to buy SPDR S&P Biotech ETF (XBI) December $230 puts. During the pre-market, the ETF was priced at $255, and the put was at $15.50.
SSPL via Getty Images
“These puts are about 10% out-of-the-money and cost about […]
REUTERS/Yiannis KourtoglouGreek flags are displayed for sale for one Euro at a shop in Athens, July 26, 2015.The Greek stock exchange will remain closed on Monday but might reopen on Tuesday after a one-month shutdown, official sources said.”It’s certain that it will not open on Monday, maybe on Tuesday,” a spokesperson for the Athens Stock Exchange told Reuters on condition […]
Despite poor retail sales stocks bounced higher for the fourth straight session. Energy and Biotech stocks led the overall market today. Energy seems to be finding support at early 2015 lows. Biotech continues its run despite fundamentalists crying foul over earnings multiples. Transportation stocks lagged the market along with utilities. Bonds rallied a bit today as they continue to remain […]
An investor sits in front of a chart showing China’s Shenzhen stock market index on Monday. David Lom
On Monday, the People’s Daily — essentially the Communist Party’s mouthpiece — declared that “rainbows always appear after the rains” in an attempt to reassure investors.
These words did not halt the overall decline, however, and on Tuesday Chinese stocks fell again, with […]
Biotechs rise on Greece ‘No’ Vote!Amazing news, right? I mean, who would think the news out of Greece would push biotech stocks higher?But apparently it did. The Greek people let the world know they ain’t interested in more austerity (not that they really had any). Meanwhile, biotechs were the strongest group of stocks on the market to kick off the […]
The 4 Stocks That Weighed on the Market MondayBy Paul Ausick July 6, 2015 4:01 pm EDTPrintEmail July 6, 2015: Markets opened lower on Monday following the Greek vote on Sunday to tell the the troika not only “no,” but “hell, no.” European equities markets closed lower and only the Shanghai exchange closed higher in Asia. U.S. stocks briefly traded […]
Flickr/IstolethetvChinese markets have fallen by around 30% in three weeks.China’s stock markets are in turmoil right now, with the benchmark Shanghai Composite collapsing 29% in just the last 3 weeks.The collapse closely mirrors the Wall Street Crash in the US in 1929 and the Chinese government has been desperately scrambling to try and stop the fall. The People’s Bank of China […]
The overheated Shanghai and Shenzhen markets have lost 29 and 32 per cent respectively over the past three weeks following 7-year highs reached on June 12.Instead of welcoming a much needed correction, Chinese brokerages and the Bank of China agreed to prop up the market.Stimulus Short-LivedThe stimulus act has failed already. The South China Morning Post reports Chinese Shares Close […]
Kraft Heinz Company Begins Trading MondayBy Paul Ausick July 5, 2015 9:47 am EDTPrintEmail A deal announced in late March that brought together two of the country’s best-known consumer food products companies is now complete and stock in the new Kraft Heinz Company begins trading Monday July 6th on the Nasdaq under the ticker symbol KHC. The new firm will […]
