Brexit Talks Stall, ECB Set To Extend Stimulus

Oracle: Cloud application and platform firm Oracle (ORCL) also delivers its latest set of quarterly earnings on Thursday, where a key point of focus will be the state of the firm’s deal to acquire TikTok’s US operations. The social media firm’s Chinese parent company ByteDance has struck a preliminary deal with a combination of Oracle and Walmart (WMT), but it has not been finalised. This week, a judge blocked a ban of TikTok in the US, which President Trump had threatened, if the company did not agree to sell to a US firm which was approved by the White House by last week. Year-to-date, Oracle stock is up by 12.7%.

Lululemon Athletica: High-end athleisure wear firm Lululemon (LULU) has soared by 57% in 2020, as despite widespread gym closures, workers stuck at home have increasingly turned to casual and comfortable clothing options. The firm also acquired Mirror this year, which sells an interactive workout display, pushing it into the home fitness segments. Key points to watch when the company delivers quarterly earnings on Thursday will be e-commerce growth, how the integration of Mirror has progressed, and investments in its online presence and product lines. Analysts expect the firm to deliver an earnings per share figure of $0.88 for the quarter.

Crypto corner: bitcoin leading contender to replace dollar as world reserve currency says Morgan Stanley

With the dollar now having survived as world reserve currency longer than is typical, only bitcoin looks like a true contender to replace it, says Morgan Stanley (MS).

Ruchir Sharma, Morgan Stanley Investment Management’s chief global strategist writing an OpEd in the Financial Times, says bitcoin is the only real contender to replace the US dollar as the world’s reserve currency – a position occupied at one time in the past three hundred years by six countries’ money.

But, says Sharma, the euro looks too structurally unstable as a successor while the Chinese renminbi (CYB) is untrusted by most nations thanks to the autocratic regime behind it. Instead, Sharma says bitcoin (BITCOMP) is already showing signs of becoming useful as a global monetary system, with examples of people and businesses around the globe now using it to make payments and perform transactions where their local currency is untrustworthy or foreign exchange controls are too limiting.

View single page >> |

This communication is for information and education purposes only and should not be taken as investment advice, a personal recommendation, or an offer of, or solicitation to buy or sell, any ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.