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Yahoo BusinessSep 20, 2020
U.S. Stock Outperformance Portends More Dark Days for the Dollar
(Bloomberg) -- The dollar's weakest quarter in a decade may get even worse as investors respond to the effects that massive American equity-market gains have had on the composition of their portfolios.The Bloomberg dollar index has plunged close to 5% this quarter and is on track for its biggest slide since 2010 as America's economy shows signs of recovering from its pandemic-induced slump. That more upbeat narrative has helped to underpin a 7% rally in the S&P 500 Index that puts to shame to gains in stocks from Japan to the euro area and Canada -- not to mention losses for U.K. and Australian equities.The U.S. outperformance, though, may prompt global portfolio managers to realign weightings of their holdings in an effort to maintain appropriate risk levels. This process -- often carried out in the days leading up to month-, quarter- or year-end -- usually involves selling an outperforming asset and purchasing those that lag in order to get holdings back to target allocations.In the days ahead, that could lead to investors selling dollars and buying currencies linked to underperforming share markets, such as the British pound and Australian dollar.Moreover, with equity and currency volatility levels holding firm, rebalancing flows may begin to enter the market sooner rather than later as managers adjust holdings ahead of the last day of the quarter.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloo

Yahoo BusinessSep 19, 2020
Oracle, Walmart Invest in TikTok to Gain Social Media Toehold
(Bloomberg) -- Oracle Corp. and Walmart Inc. plan an minority investment in TikTok Global, giving companies that have little experience in social media a stake in a fast growing music and video-sharing app that became the focal point of a trade standoff between the U.S. and China.Oracle and Walmart together could end up with as much as 20% of the entity, purchased in a round of financing that would precede an initial public offering, the companies said Saturday. Sequoia Capital and General Altantic, current investors in TikTok parent ByteDance Ltd., could also pursue stakes in the fundraising round, a person with knowledge of the matter said. ByteDance will retain majority control.ByteDance commenced a search for investors in TikTok's U.S. operations after Trump proclaimed that TikTok was a threat to U.S. national security, and ordered the app be sold to an American business or shut down by Sept. 20. The president said Saturday that he gave his "blessing" to the "concept" of the deal, even though ByteDance will retain such a large stake.For Oracle, the partnership fits with a plan to become a provider of a broad range of computing services delivered via remote server farms, rivaling leaders Amazon.com Inc., Microsoft Corp. and Alphabet Inc. The strategy, announced with fanfare half a decade ago, had mixed success. As of last year, Oracle had grabbed such a small share of the cloud computing and storage market that research firm Gartner Inc. didn't even tabulate the figure. In 2018 Gartner classified Oracle as

Yahoo BusinessSep 19, 2020
How Much Did Checkpoint Therapeutics'(NASDAQ:CKPT) Shareholders Earn From Share Price Movements Over The Last Three Years?
It is a pleasure to report that the Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) is up 57% in the last quarter. But...


MarketWatch MarketPulseSep 16, 2020
Hahn: AstraZeneca's COVID-19 vaccine trial is still on hold in the U.S.
AstraZeneca's Phase 3 trial for its COVID-19 vaccine candidate is still on hold in the U.S., according to remarks made Tuesday by Food and Drug Administration commissioner Dr. Stephen Hahn during an Instagram Live with Sen. Tim Scott (R-S.C.). Shares of AstraZeneca were up 1.1% in premarket trading on Wednesday morning. Hahn said the FDA is working with the drug maker "to figure out if there's a significant safety issue or not" after the company confirmed last week that it had halted its trial in the U.K. after a participant reported a "potentially unexplained illness." (The New York Times reported that the illness is transverse myelitis, a rare spinal disorder sometimes associated with vaccines.) "If a serious adverse event occurs, that's a trigger to stop the trial so that we can pause - it's really a pause, not a stop - and we can take a look at that," Hahn said. AstraZeneca's stock so far this year has gained 10.6%, while the S&P 500 is up 5.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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