49 Mins Ago
Nelson Peltz’s hedge fund Trian builds stake in Allstate
Nelson Peltz’s activist hedge fund Trian Fund Management has created a stake in insurance company Allstate, according to a report from Reuters. Allstate has struggled with the fallout from various natural disasters, the most recent of which include the Maui wildfire in Hawaii.
The move could increase the pressure on CEO Tom Wilson. The company has posted five quarters of losses.
Allstate shares jumped 3.8% Monday during after hours trading.
— Hakyung Kim
An Hour Ago
Forget Monday. Gold has been impressive lately, Strategas says
Forget about Monday’s 0.5% slide in the price of gold.
What’s been impressive is how well the gold price has held up in the face of soaring interest rates and a bull market in the U.S. dollar, Strategas Securities’ head of technical analysis Chris Verrone wrote to clients early Monday.
Gold last week notched its fourth best weekly advance over the past 10 years, Verrone wrote, and the precious metal has proven remarkably resilient in the face of 10-year Treasury yields jumping 4.5 percentage points since mid-2020, inflation-adjusted yields rising 3.75 points, fed funds 5.5 points higher and the dollar climbing 20%. Meanwhile, gold is unchanged since then. “Impressive, all things considered,” Strategas said.
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Gold futures in 2023.
— Scott Schnipper, Michael Bloom
An Hour Ago
Stock futures open slightly higher Monday
U.S. stock futures opened in the green Monday night.
Dow Jones Industrial Average futures inched up 35 points, or 0.1%. Futures tied to the S&P 500 and Nasdaq 100 added 0.1% and 0.06%, respectively.
— Hakyung Kim
Read More:Stock futures are little changed as Wall Street look towards busy earnings week: Live updates
2023-10-16 22:51:00
