$ROOT
Root Inc
PRICE
$4.33 βΌ-0.915%
Last Close
VOLUME
122,034
DAY RANGE
4.11 - 4.37
52 WEEK
3.31 - 42.14
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@NoobBot #Crypto4Noobs
**conorsen:** Canβt really root for Saudi Arabia in any circumstances but this is very funny. https://twitter.com/conorsen/status/1595016505363685382
64 Replies 8 π 11 π₯
@NoobBot #Crypto4Noobs
**mark_dow:** When bad news is good news, Santelli never knows what to root for https://twitter.com/mark_dow/status/1578000802613891072
51 Replies 8 π 14 π₯
@trademaster #TradeHouses
By Amanda Cooper LONDON (Reuters) -Global stocks and bond prices rallied on Tuesday, buoyed by a growing belief among investors that central banks may be on the verge of shifting down a gear in their quest to fight inflation, while UK assets benefitted from a government U-turn on tax cuts. A number of factors have helped douse some of the expectations for policymakers to deliver hefty rate hike after rate hike to quell inflation. A weaker read of U.S. manufacturing data for September, coupled with a retreat in eye-wateringly high European energy prices, and a smaller rate rise by the Australian central bank helped push down borrowing costs around the globe and plumped up investor appetite for risk. With borrowing costs having surged in the last couple of weeks in particular, a number of companies, including Swiss lender Credit Suisse, have found themselves in the line of fire. "The sight of a bond rally when investors smell a whiff of a central bank pivot is something to behold," ING strategists led by Padraig Garvey said. "The root cause of the recent re-pricing lower in rates can be traced back to two factors: the global economic slowdown and resurgent fears for financial stability." The MSCI All-World index was last up 0.9% on the day, while stocks in Europe headed for their biggest one-day rally in over three months, as the Stoxx 600 traded 2.6% higher and London's FTSE gained 1.8%. The pound, meanwhile, rose 0.1% against the dollar to trade at $1.1363, having pared some of the day's gains. Sterling has risen by more than 10% since the mini-budget unveiled by Finance Minister Kwasi Kwarteng last week triggered alarm across the financial markets. Global bond yields headed lower, with those on the benchmark U.S. 10-year Treasury note falling 6 basis points to 3.587%. The yield fell by nearly 20 basis points on Monday, having topped 4.0% just last week. "Noticeably, that move lower was entirely driven by a fall in real yields, with inflation breakevens moving higher on the day, which is again a sign that investors are pricing in a much less aggressive reaction from the Fed," Deutsche Bank (ETR:DBKGn) strategist Jim Reid said in a daily note. DOLLAR RELAXES ITS GRIP With Treasury yields falling, the dollar was on course for a fifth consecutive daily loss against a basket of currencies - its longest streak of declines since August 2021 - as investors began to price in the possibility that tighter credit conditions will make the Federal Reserve tread more carefully. However, some analysts said this optimism may be misplaced. "My firm view, however, is that this will not be the case. While, technically, having a dual mandate, the Fed have effectively become a single-issue central bank; that issue being bringing inflation back to the 2% target," Michael Brown, chief strategist at CaxtonFX, said. "Unless we see a few months of consecutive improvement in inflation data, it's tough to envisage any sort of pivot, with another 75 bps hike remaining my base case for next month's decision. It's tough to be long risk with that on the radar." Markets show investors believe inflation is likely to drop more quickly. On a five-year horizon, investors see inflation at just 2.24%, down from nearer 3% six weeks ago. In Europe, benchmark natural gas prices, which have served as a proxy for inflation, fell to their lowest in two months, which could take some pressure off the European Central Bank. In the UK, Kwarteng on Monday announced the government would back down on a tax cut for top earners that formed part of a package aimed at boosting growth. This measure only makes up a small part of the 45 billion pounds ($51 billion) in unfunded tax cuts, but it was enough to soothe some of the recent angst in the market and, together with emergency bond buying from the Bank of England, sterling was set to make up most of the losses incurred since the mini budget was unveiled on Sept. 23. But the respite seen across the markets on Monday and Tuesday would likely not last, given the bleak outlook for the British economy, analysts said. "The about-face ... will not have a huge impact on the overall UK fiscal situation in our view," said NatWest Markets' head of economics and markets strategy John Briggs. "(But) investors took it as a signal that the UK government could and is at least partially willing to walk back from its intentions that so disrupted markets over the past week." S&P 500 futures rose 1.8%, following a 2.6% bounce for the index overnight, suggesting a second day of gains may be in the offing on Wall Street later. [.N] Oil rallied for a second day, boosted by the prospect of output cuts from the world's biggest exporters, leaving Brent futures up 1.1% at $89.84 a barrel. ($1 = 0.8827 pounds)
91 Replies 15 π 11 π₯
@Chano #StockTraders.NET
I think those can be summarized as fear of losing as the root cause
64 Replies 14 π 15 π₯
@NoobBot #Crypto4Noobs
Maaria Bajwa: 'People Like to Root Against the Winners.' https://www.coindesk.com/business/2022/04/25/maaria-bajwa-people-like-to-root-against-the-winners/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
80 Replies 11 π 11 π₯
@trademaster #TradeHouses
By Stella Qiu and Kevin Yao BEIJING (Reuters) -China said on Friday it would cut the amount of cash that banks must hold as reserves for the first time this year, releasing about 530 billion yuan ($83.25 billion) in long-term liquidity to cushion a sharp slowdown in economic growth. The People's Bank of China (PBOC) said on its website it would cut the reserve requirement ratio (RRR) for all banks by 25 basis points (bps), effective from April 25, but analysts said it might not yet be enough to reverse the slowdown. Heightened global risks from the war in Ukraine and within China widespread COVID-19 lockdowns and a weak property market have triggered convulsions in the world's second-largest economy that are quickly spilling over into global supply chains. China's exports, the last major driver of growth, are also showing signs of fatigue, and some economists say the risks of a recession are rising. "I donβt think this RRR cut matters that much for the economy at this stage," said Zhiwei Zhang, chief economist at Pinpoint Asset Management, noting it was less than markets had expected. "The main challenge the economy faces is the Omicron outbreaks and the lockdown policies that restrict mobility. More liquidity may help on the margin, but it doesnβt address the root of the problem," he said. The PBOC said the latest RRR cut would boost the long-term funds for banks, enabling them to step up support for industries and firms affected by COVID-19 outbreaks, and lower costs for banks. It will cut financial institutions' annual funding costs by about 6.5 billion yuan. The PBOC will also continue to keep liquidity broadly stable, while closely watching inflationary trends and policy changes made by developed countries, it said. For city commercial banks that do not have cross-provincial business and rural commercial banks that have an RRR of more than 5%, they are entitled to an additional cut of 25 bps. The weighted average RRR for financial institutions will be lowered to 8.1% after the cut, the central bank said. Ting Lu, chief China economist at Nomura, expects another 25bp RRR cut before the year-end, most likely before mid-2022, before cutting RRR for some big banks that still have relatively high reserve ratios. "We expect the PBOC to focus on increasing its direct credit support to small- and medium-sized enterprises, the agricultural sector, green investment, tech and elderly care via the MLF (medium-term lending facility), relending and rediscounting channels," Lu said. HEADWINDS The cut, which follows a broad-based reduction in December, had been widely expected after China's cabinet said on Wednesday that monetary policy tools should be used in a timely way to bolster growth. The PBOC has also started cutting interest rates, while local governments have expedited infrastructure spending and the finance ministry has pledged more tax cuts. China's economy rebounded strongly from a pandemic-induced slump in 2020 but cooled over the course of 2021 due to persistent property market weakness and strict measures to contain COVID-19 flare-ups, which hurt consumption. The government's determination to halt the latest spread of record COVID-19 cases has clogged highways and ports, stranded workers and shut countless factories - disruptions that are ripping through global supply chains for goods ranging from electric vehicles to iPhones. China's imports unexpectedly fell in March as the restrictions hampered freight arrivals and weakened domestic demand, while export growth also slowed. Factory and services sector activity both contracted. The government is targeting economic growth of around 5.5% this year as headwinds build, but some analysts say that may now be hard to achieve without more aggressive stimulus measures. With other major central banks such as the U.S. Federal Reserve set to aggressively raise interest rates or already doing so, more forceful easing in China could spur potentially destabilising capital outflows as investors shift money to higher yielding assets. Earlier on Friday, the PBOC kept the rate on its medium-term lending facility unchanged for a third straight month, as expected.
51 Replies 13 π 12 π₯
@trademaster #TradeHouses
By Marc Jones
LONDON (Reuters) - European stocks fell heavily again on Friday as worries about a sudden halt to central bank stimulus and rising tensions between Western powers and Moscow drove one of the worst ever starts to a year for world stock markets.
Strong earnings from Apple provided some encouragement for battered tech and U.S. markets [.N], but traders were struggling to draw a line under a global selloff that has now firmly taken root.
The pan-European STOXX 600 tumbled nearly 1.5%, on course for its fourth straight weekly drop, (EU) while volatile U.S. futures prices indicated traders weren't exactly sure which way Wall Street will go when it opens shortly. [.N].
MSCI's 50-country main world index is now down 8.1% for the month, slicing roughly $7 trillion from its value and putting it on the brink of its worst January since the 2008 global financial crisis year.
The dollar, meanwhile, is on track for its best week in seven months on bets that U.S. interest rates could now go up as many as five times this year. [/FRX]
"With the Federal Reserve sounding a lot more hawkish, it has shaken the markets," said Jeremy Gatto, a multi-asset portfolio manager at Unigestion in Switzerland.
"Markets can live with rate hikes, but the main question remains around the balance sheet," he added. Markets have been driven up by all the stimulus pumped in during the COVID-19 crisis, "so if it starts reducing liquidity, that changes the game".
GRAPHIC - World stocks suffer January plunge
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The Fed indicated this week that it is likely to raise rates in March, as widely expected, and reaffirmed plans to end its pandemic-era bond purchases that month before launching a significant reduction in its asset holdings.
The prospect of faster or larger U.S. interest rate hikes, and possible stimulus withdrawal, lifted the dollar to a 20-month high of $1.1119 per euro and to 115.50 yen - close to a high of year so far of 116.35 yen. [/FRX]
In the big government bond markets that drive global borrowing costs, benchmark 10-year U.S. Treasury yields dipped to 1.82% from 1.84% earlier as the Fed's favored inflation gauge, the core personal consumption expenditure (PCE) price index, rose no more than had been expected.
In the 12 months through December, the PCE price index increased 5.8%. That was the largest advance since 1982 and followed a 5.7% year-on-year increase in November.
The two-year yield, which is even more sensitive to rate hike expectations, was last at 1.20%, having started the year at roughly 0.75%.
European bond yields also rose further. Germany's 10-year yield, the benchmark for the euro zone, was up 4 bps to -0.0008% as it threatened to break through the key zero threshold. [GVD/EUR]
Focus was also on Italy, where bond yields there were also up as its parliament struggled to elect a new president.
GRAPHIC - Global bond yields are rising
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OIL PRESSURE
U.S. stock futures recovered from an earlier dip to be broadly flat after the inflation data and as Apple shares (NASDAQ:AAPL), which have slumped nearly 10% this month, jumped 3.5% in premarket trading after posting record sales for its flagship phones.
Apple is the world's largest company by market value but it and other tech shares have been hit particularly hard in the current selloff as the prospect of global rate rises give those who were already worried about stratospheric valuations the perfect reason to sell.
In the commodity markets, oil prices remained strong and set for their sixth weekly gain amid concerns about tight supplies as major producers continue to limited output despite rising demand.
Brent crude futures climbed 1.9%, to $91 a barrel - its highest level since October 2014.
A sixth week of gains will also mark the longest weekly winning streak for Brent since October last year, when prices climbed for seven weeks while U.S. WTI prices gained for nine.
This year, prices have risen about 15% amid geopolitical tensions between Russia, the world's second-largest oil producer and a key natural gas provider to Europe, and the West over Ukraine, as well as threats to the United Arab Emirates from Yemen's Houthi movement that have raised concerns about energy supply.
"Where Brent crosses the $90 level, we see some selling from a sense of accomplishment, but investors start buying again when the prices fall a little as they remain cautious about possible supply disruptions due to rising geopolitical tensions," said Tatsufumi Okoshi, senior economist at Nomura Securities.
"The market expects supply will stay tight as the OPEC+ is seen to keep the existing policy of gradual increase in production," he said.
The market is focusing on a Feb. 2 meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, a group known as OPEC+. It is likely to stick with a planned rise in its oil output target for March, several sources in the group told Reuters.
GRAPHIC - Apple sours, oil on the boil
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@NoobBot #Crypto4Noobs
**@jasonzweigwsj:** On Wall Street, achievement is the square root of ego. https://twitter.com/jasonzweigwsj/status/1469064573969911822
90 Replies 15 π 14 π₯
Key Metrics
Market Cap
40.20 M
Beta
2.02
Avg. Volume
152.95 K
Shares Outstanding
9.20 M
Yield
0%
Public Float
0
Next Earnings Date
2023-04-26
Next Dividend Date
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