adplus-dvertising
Connect with us

Business

Wall Street Week Ahead: Investors hedging, worry about exuberance, as U.S. risks rise – Reuters

Published

 on


NEW YORK (Reuters) – Signs of trepidation over the lasting impact of the U.S. coronavirus pandemic are growing on Wall Street, fanned by resurgent case numbers, the prospect of a slower rebound in growth and rising political uncertainty.

Traders wear masks as they work on the floor of the New York Stock Exchange as the outbreak of the coronavirus disease (COVID-19) continues in the Manhattan borough of New York, U.S., May 27, 2020. REUTERS/Lucas Jackson

As a U.S. equity rally stalled this week, investors poured a net $24.5 billion into bonds, the third largest weekly inflows ever recorded, while pulling $3.8 billion out of stocks, according to BoFA Global Research. Gold drew its second largest inflows on record, while investors socked nearly $41 billion away in cash.

Meanwhile, the dollar hit its lowest level in nearly two years, weighed down in part by growth-chasing investors cutting positions in U.S. assets in favor of allocations to Europe. In the bond market, yields on Treasury Inflation-Protected Securities (TIPS), which adjust for inflation – are near all-time lows.

“We are definitely concerned,” said Nick Maroutsos, Head of Global Bonds at Janus Henderson Investors. “I don’t think you can blindly buy assets. A lot of the value has been squeezed.”

Maroutsos said there was some “fear of missing out” in the market with the expectation that actions by the U.S. Federal Reserve can continue to keep risk assets elevated, and that investors were “looking to hedge some of their portfolio given the move in risk assets”.

He added that behavior “can certainly continue.”

The U.S. central bank has pledged unlimited financial asset purchases. While the vast majority of these purchases have been limited to U.S. Treasuries and mortgage-backed securities, the Fed’s pledge to bolster the corporate bond market has spurred a frenzy for bonds and stocks.

The Fed’s July 28-29 meeting could describe the turn the economy seems to be approaching. The U.S. economic outlook has darkened in the past month, according a Reuters poll.

Investors are weighing coronavirus cases escalating in southern and western U.S. states, rising tensions between the U.S. and China, potential volatility stemming from the Nov. 3 presidential election and the level of debt being built up to fight the effects of the virus.

Jeffrey Gundlach, chief executive officer of Doubleline Capital, which oversees $138 billion invested primarily in fixed income, said he was concerned about the level of debt being built up in the economy via multiple stimulus programs over the years.

He believes that will weigh on the dollar as the U.S. deficits grow. While the dollar may benefit short term if there is equity weakness, “ultimately it weakens as the debt situation is really remarkably bad for a developed country.”

There are also concerns that the blistering rally in the S&P 500 from its March lows has been led by a small group of technology-related names. Facebook, Amazon, Apple, Microsoft and Google, the five largest U.S. stocks, now account for 22% of the S&P 500’s market capitalization, analysts at Goldman Sachs said in a recent report.

The equity market’s leadership and frenzied buying by retail investors “is classic bear market rally activity,” said Gundlach, and feels similar to 1999 – which was prior to the dotcom bubble bursting.

However, it is “way worse because we don’t have the ability to cut interest rates” and have “used all the tools that are typically reserved for fighting economic problems,” he said.

Some are looking more positively abroad.

Gross domestic product growth in both the United States and Europe should take hits next year, according to Société Générale. Yet the firm projects a 5.2% rebound for EU growth in 2022, compared with a 2.5% bounce in the United States.

“Next year will be the year of recovery for Europe and East Asia, where in the U.S. a vaccine won’t have the same impact because the virus is not contained,” said David Kelly, chief global strategist at JP Morgan Funds.

U.S. cases of the virus continue to increase at the fastest rate in the world.

“In the U.S. right now we are seeing a bit of ‘what does this mean?’” said Jim Schaeffer, head of leveraged finance at Aegon Asset Management. “We sold on the complete unknown and rallied on hope.”

Editing and additional reporting by Ira Iosebashvili; editing by John Stonestreet

Let’s block ads! (Why?)

728x90x4

Source link

Business

Stop Asking Your Interviewer Cliché Questions

Published

 on

Most job search advice is cookie-cutter. The advice you’re following is almost certainly the same advice other job seekers follow, making you just another candidate following the same script.

In today’s hyper-competitive job market, standing out is critical, a challenge most job seekers struggle with. Instead of relying on generic questions recommended by self-proclaimed career coaches, which often lead to a forgettable interview, ask unique, thought-provoking questions that’ll spark engaging conversations and leave a lasting impression.

English philosopher Francis Bacon once said, “A prudent question is one half of wisdom.”

The questions you ask convey the following:

  • Your level of interest in the company and the role.
  • Contributing to your employer’s success is essential.
  • You desire a cultural fit.

Here are the top four questions experts recommend candidates ask; hence, they’ve become cliché questions you should avoid asking:

  • “What are the key responsibilities of this position?”

Most likely, the job description answers this question. Therefore, asking this question indicates you didn’t read the job description. If you require clarification, ask, “How many outbound calls will I be required to make daily?” “What will be my monthly revenue target?”

  • “What does a typical day look like?”

Although it’s important to understand day-to-day expectations, this question tends to elicit vague responses and rarely leads to a deeper conversation. Don’t focus on what your day will look like; instead, focus on being clear on the results you need to deliver. Nobody I know has ever been fired for not following a “typical day.” However, I know several people who were fired for failing to meet expectations. Before accepting a job offer, ensure you’re capable of meeting the employer’s expectations.

  • “How would you describe the company culture?”

Asking this question screams, “I read somewhere to ask this question.” There are much better ways to research a company’s culture, such as speaking to current and former employees, reading online reviews and news articles. Furthermore, since your interviewer works for the company, they’re presumably comfortable with the culture. Do you expect your interviewer to give you the brutal truth? “Be careful of Craig; get on his bad side, and he’ll make your life miserable.” “Bob is close to retirement. I give him lots of slack, which the rest of the team needs to pick up.”

Truism: No matter how much due diligence you do, only when you start working for the employer will you experience and, therefore, know their culture firsthand.

  • “What opportunities are there for professional development?”

When asked this question, I immediately think the candidate cares more about gaining than contributing, a showstopper. Managing your career is your responsibility, not your employer’s.

Cliché questions don’t impress hiring managers, nor will they differentiate you from your competition. To transform your interaction with your interviewer from a Q&A session into a dynamic discussion, ask unique, insightful questions.

Here are my four go-to questions—I have many moreto accomplish this:

  • “Describe your management style. How will you manage me?”

This question gives your interviewer the opportunity to talk about themselves, which we all love doing. As well, being in sync with my boss is extremely important to me. The management style of who’ll be my boss is a determining factor in whether or not I’ll accept the job.

  • “What is the one thing I should never do that’ll piss you off and possibly damage our working relationship beyond repair?”

This question also allows me to determine whether I and my to-be boss would be in sync. Sometimes I ask, “What are your pet peeves?”

  • “When I join the team, what would be the most important contribution you’d want to see from me in the first six months?”

Setting myself up for failure is the last thing I want. As I mentioned, focus on the results you need to produce and timelines. How realistic are the expectations? It’s never about the question; it’s about what you want to know. It’s important to know whether you’ll be able to meet or even exceed your new boss’s expectations.

  • “If I wanted to sell you on an idea or suggestion, what do you need to know?”

Years ago, a candidate asked me this question. I was impressed he wasn’t looking just to put in time; he was looking for how he could be a contributing employee. Every time I ask this question, it leads to an in-depth discussion.

Other questions I’ve asked:

 

  • “What keeps you up at night?”
  • “If you were to leave this company, who would follow?”
  • “How do you handle an employee making a mistake?”
  • “If you were to give a Ted Talk, what topic would you talk about?”
  • “What are three highly valued skills at [company] that I should master to advance?”
  • “What are the informal expectations of the role?”
  • “What is one misconception people have about you [or the company]?”

 

Your questions reveal a great deal about your motivations, drive to make a meaningful impact on the business, and a chance to morph the questioning into a conversation. Cliché questions don’t lead to meaningful discussions, whereas unique, thought-provoking questions do and, in turn, make you memorable.

_____________________________________________________________________

 

Nick Kossovan, a well-seasoned veteran of the corporate landscape, offers “unsweetened” job search advice. You can send Nick your questions to artoffindingwork@gmail.com.

Continue Reading

Business

Canadian Natural Resources reports $2.27-billion third-quarter profit

Published

 on

 

CALGARY – Canadian Natural Resources Ltd. reported a third-quarter profit of $2.27 billion, down from $2.34 billion in the same quarter last year.

The company says the profit amounted to $1.06 per diluted share for the quarter that ended Sept. 30 compared with $1.06 per diluted share a year earlier.

Product sales totalled $10.40 billion, down from $11.76 billion in the same quarter last year.

Daily production for the quarter averaged 1,363,086 barrels of oil equivalent per day, down from 1,393,614 a year ago.

On an adjusted basis, Canadian Natural says it earned 97 cents per diluted share for the quarter, down from an adjusted profit of $1.30 per diluted share in the same quarter last year.

The average analyst estimate had been for a profit of 90 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Oct. 31, 2024.

Companies in this story: (TSX:CNQ)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Business

Cenovus Energy reports $820M Q3 profit, down from $1.86B a year ago

Published

 on

 

CALGARY – Cenovus Energy Inc. reported its third-quarter profit fell compared with a year as its revenue edged lower.

The company says it earned $820 million or 42 cents per diluted share for the quarter ended Sept. 30, down from $1.86 billion or 97 cents per diluted share a year earlier.

Revenue for the quarter totalled $14.25 billion, down from $14.58 billion in the same quarter last year.

Total upstream production in the quarter amounted to 771,300 barrels of oil equivalent per day, down from 797,000 a year earlier.

Total downstream throughput was 642,900 barrels per day compared with 664,300 in the same quarter last year.

On an adjusted basis, Cenovus says its funds flow amounted to $1.05 per diluted share in its latest quarter, down from adjusted funds flow of $1.81 per diluted share a year earlier.

This report by The Canadian Press was first published Oct. 31, 2024.

Companies in this story: (TSX:CVE)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending