With Twitter breaking out of sideways movement, escaping bear market conditions and surging to its highest point since last summer, technical analyst Matt Maley deems it the social media stock with the highest upside potential. While some analysts are less enthusiastic about the communications services sector in general, Maley contends Twitter can gain momentum if it holds above its current level.
Researchers at Richardson GMP Asset Management have examined the impact of investor sentiment on capital market movements and contend it is as influential as fundamental data. They say investors' mood is currently good, as last year's fears of recession are lifting, and argue that the recent initial public offerings from Lyft, Pinterest and Zoom Video "may not have gone so well if attempted during the more volatile fourth quarter."
Economists are debating whether the Italian economy is carrying so much debt that it is heading for a Greece-style collapse. Central to Italy's predicament are the EU's fiscal responsibility rules, which won't allow for additional government spending that could bolster the economy, analysts say.
Morgan Stanley analysts say Europe's banks will report a 24% drop in quarterly investment-banking income due to their greater reliance on equity trading than their Wall Street counterparts.
Barclays is preparing to cut bonus payments at its investment-banking arm in a cost-cutting drive as it prepares to fight off activist investor Edward Bramson, sources say.
National regulators are taking varied approaches in applying the Basel III bank capital standards and this inconsistency shows a need for further guidance, said Fernando Restoy, chairman of the Bank for International Settlements' Financial Stability Institute. The Basel III standards, by themselves, aren't sufficient to ensure harmonisation of capital obligations across multiple jurisdictions, he said.
Herman Cain said he no longer wants to be considered for a position on the board of the Federal Reserve. Cain, a former chief executive of Godfather's Pizza and Kansas City Fed director, said he doesn't want the job because it would require him to take a pay cut.
The London Metal Exchange has set new rules that allow only responsibly sourced metals to be traded after 2022. Firms that violate the policy could be delisted from the exchange.
The United States' plan to eliminate waivers granted to eight economies allowing them to buy Iranian oil without facing sanctions sent oil prices close to their highest level in six months. Brent crude futures approached $75 per barrel, while US West Texas Intermediate crude futures topped $65 per barrel.
US 10-year Treasury note futures saw bearish bets rise to the highest level since late December, with 10-year yields reaching a near one-month high, according to data from the Commodity Futures Trading Commission. 10-year Treasury futures short positions exceeded long positions on April 16 by 275,650 contracts, CFTC noted.