Day: October 1, 2020

Stock futures flat as Washington tries to hammer out stimulus deal

spike 2 months ago

U.S. stock index futures were little changed in overnight trading as U.S. lawmakers try to hammer out a deal on additional stimulus measures.

House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke for 50 minutes on Thursday afternoon as they try to reach a deal on another coronavirus relief package. But they remain at odds over key items including the dollar amount of the package. The Democrats are seeking an additional $2.2 trillion in aid, which is above what Republican leaders have said they will agree to.

Pelosi and Mnuchin are expected to speak once more before the House’s

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A Democratic sweep may not be so bad for stocks if it leads to a bigger stimulus, some traders say

spike 2 months ago

U.S. House Speaker Nancy Pelosi (D-CA) and Senate Minority Leader Chuck Schumer (D-NY) speak to reporters after their coronavirus relief negotiations with Treasury Secretary Steven Mnuchin and White House Chief of Staff Mark Meadows at the U.S. Capitol in Washington, U.S. August 7, 2020.

Jonathan Ernst | Reuters

The trading community is actively debating the effect of more fiscal stimulus on the economy and on the markets, but they sometimes seem to be talking about two different types of stimulus.

There is the one that would come from the negotiations currently underway between House Speaker Nancy Pelosi and Treasury Secretary

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Placements with international market through Willis Towers Watson hub hit SG$715 million

spike 2 months ago

Willis Towers Watson has announced that overall placements in the international market through its Global Markets Hub have increased by 67% year over year to reach US$525 million (around SG$715 million) in premium, despite the challenges created by the events of this year.

Willis Towers Watson made the announcement in a market update for clients. Key points included:

  • Embracing technology: The market has embraced both remote work and the use of electronic placing platforms such as PPL. Willis Towers Watson said. The collaboration between brokers and underwriters has led to increased efficiency in month-end binding. The company said that markets
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Nikola shares surge as much as 31% after management confirms production targets

spike 2 months ago

Nikola Motor Company Badger pickup truck

Source: Nikola Motor Company

Nikola shares surged on Thursday, one day after the company said its production timeline and factory plans remain on track amid widespread investor anxiety regarding the company’s business as well as its planned deal with General Motors.

The stock soared by as much as 31% earlier in the day, recently trading up by about 16% just before 1 p.m. But the jump does little to dent the stock’s recent weakness; shares have tumbled 37% in the last month.

Short-selling firm Hindenburg Research accused the company of fraud in a scathing

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