Author: FX

sutthirat sutthisumdang Baird has chosen Alcon (NYSE:ALC), Stryker (NYSE:SYK), The Cooper Companies (NASDAQ:COO), Axonics (NASDAQ:AXNX) and Boston Scientific (NYSE:BSX) as its top medtech picks for 2024. While allowing that medtech has underperformed the S&P 500 for three straight years, Baird said it likes the sector’s setup moving into 2024, pointing to fading concerns about the impact of GLP-1 drugs, “solid” topline fundamentals and improving margins. The investment bank said it believes valuations have started to “better embed” concerns about GLP-1s, the upcoming US elections, and macroeconomic issues. It noted that medtech is generally not as impacted by elections as other…

spooh While the three major U.S. carriers — Delta Air Lines (NYSE:DAL), United Airlines (NASDAQ:UAL), and American Airlines (NASDAQ:AAL) — have had decent stock returns year to date, 2024 is shaping up to be even better. The global airline industry can expect to earn net profit $25.7B in 2024, according to the International Air Transport Association (IATA). That compares to the $23.3B projected for 2023. Operating profit is projected to reach $49.3B in 2024, an $8.6B increase from 2023. In 2024, revenue is expected to reach a record $964B, a 7.6% year-over-year boost. Around 4.7B people are expected to travel…

I was expecting something quieter last week but it was busy and volatile all week. Stats agencies tend to rush out December releases so they don’t have to release as much between Christmas and New Years.For Monday, all major western markets are closed but the FX market is open as always.The lone releases on the calendar are from Japan, which will release November unemployment data.Merry Christmas. Source link

AI imageIn a recent push of back-channel diplomacy, Russian President Vlad Putin has been sending a message: He is ready to make a deal for a Ukraine ceasefire. The New York Times made the report yesterday, saying that he’s been signaling through intermediaries since at least Sept that he is open to a cease-fire that freeze the fighting along the current lines.They cite “two former senior Russian officials close to the Kremlin and American and international officials” who have received the message.The report also says that some American officials say it could be a Kremlin attempt at misdirection and a…

PhotoLondonUK/iStock Editorial via Getty Images Famed soccer club Manchester United (NYSE:MANU) agreed to sell a 25% stake to British billionaire Sir Jim Ratcliffe for $1.3 billion. Ineos Chairman Ratcliffe Ratcliffe will pay $33 a share for the 25% stake in the soccer club, according to a statement on Sunday. The sale prices values Manchester United (MANU) at about $5.4 billion, below what some thought could be a $6 billion valuation for the club. “Our shared ambition is clear,” Ratcliffe said in the statement. “We all want to see Manchester United back where we belong, at the very top of English,…

The CHEM PLUTOThe global shipping market is certainly top of mind as we celebrate a holiday weekend. Yemen continues to threaten the Red Sea but now there are worries about a wider threat to shipping. Iran said it could shut down the Gibraltar Strait, which is something that most people doubt. At the same time, the latest attack defies belief.”The motor vessel CHEM PLUTO, a Liberia-flagged, Japanese-owned, and Netherlands-operated chemical tanker was struck at approximately 10 a.m. local time (6 a.m. GMT) yesterday in the Indian Ocean, 200 nautical miles from the coast of India, by a one-way attack drone…

I found this chart to be a remakable one, given all the talk about excess Chinese debt. It’s true that’s mostly local government debt but this chart highlights just how much space Beijing has to stimulate in 2024 if it wants.The consensus belief is that China is trying to squeeze the excess out of the real estate market and that’s certainly been supported by China’s actions in 2023 but with inflation flat y/y and borrowing costs ultra-low, it’s only a matter of time until they hit the gas pedal.China 30 year bond Source link

© Reuters. Israeli flags fly next to the rubble of destroyed buildings in Gaza, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, as seen from southern Israel, December 23, 2023. REUTERS/Violeta Santos Moura By Nidal al-Mughrabi and Emily Rose CAIRO/JERUSALEM (Reuters) -Israel bombed areas of Jabalia in the northern Gaza Strip overnight, with fighting throughout Sunday morning, residents and Palestinian media said, as Gaza health authorities and the Israeli military both announced mounting death tolls. Israel says it has achieved almost complete operational control over northern Gaza and is preparing to expand a ground offensive against…

It was our FX strategists final week of market discussions for 2023, focusing on the few major events that lined up the forex calendar ahead of the holiday season. Overall, it was an arguably net effective week with 3 out of 3 directional biases playing out, but risk management was likely a big driver of outcomes given that some expected moves were well ahead / after targeted catalysts. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive…

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