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Sprint And T-Mobile Shares Percolate After Report Of Imminent DOJ Merger Approval

Neutral Momentum Strategy Starting to Pay Off

This article was originally published on ETFTrends.com.

In theory, it may seem hard to apply neutrality to momentum investing, but the AGFiQ U.S. Market Neutral Momentum Fund (NYSEArca: MOM) uses a unique long/short methodology that is paying off for investors. MOM leans toward stocks with the highest total return and shorts stocks with the lowest total return. Accordingly, if the momentum stocks […]

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Semiconductor ETFs Retreat as Broadcom Warning Paints a Bleak Outlook

This article was originally published on ETFTrends.com.

Semiconductor sector exchange traded funds were among the worst performers on Friday, with Broadcom (NasdaqGS: AVGO) dragging on the segment after the chipmaker painted a dismal outlook that suggested more troubles ahead for an already ailing industry. The iShares PHLX Semiconductor ETF (NasdaqGM: SOXX) declined 2.6% on Friday. Broadcom stated that orders have been contracting, […]

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BREAKING: Teenager stabbed to death as Britain’s knife crime epidemic continues

Police are in the process of informing the victim’s next-of-kin.

A crime scene remains in place and police are appealing for anyone with information on what happened to call them urgently on 101 quoting CAD reference 5877/14June.

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Fed May Pave The Way For A Rate Cut

This article was originally published on ETFTrends.com.

U.S. stocks started their path back to recovery last week, and extended that rally on Monday, before stagnating and retracing some for the remainder of the week.  Stocks fought their way back from a brutal selloff last month, inspired by Federal Reserve Chairman Jerome Powell’s intimation that the central bank was open to relaxing its […]

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Chewy Stock Skyrockets in IPO

This article was originally published on ETFTrends.com.

Chewy shares shot up as much as 85% on Friday morning in a sign that the pet care industry has legs. The solid public debut of the online pet care retailer makes a strong investment case for the pet care industry and funds like the ProShares Pet Care ETF (PAWZ).  On Thursday, Chewy Inc (CHWY), […]

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European Economics Preview: UK GDP, Industrial Output Data Due

Monthly GDP estimate, industrial production and foreign trade figures are due from the UK on Monday, headlining a light day for the European economic news.

At 1.00 am ET, Statistics Estonia publishes foreign trade data for April.

At 4.00 am ET, Italy’s Istat releases April industrial production data. Output had decreased 0.9 percent on month in March.

At 4.30 am ET, the Office for National Statistics publishes UK GDP and industrial output data. The economy is forecast to expand 0.4 percent in three months to April from the previous three months.

Economists forecast UK industrial output to fall 1 percent month-on-month in April, reversing a 0.7 percent rise in March. Meanwhile, construction output is expected to grow 0.5 percent, in contrast to a 1.9 percent drop a month ago.

The UK foreign trade data is also due at 4.30 am ET. The visible trade deficit is seen at GBP 13 billion in April compared to GBP 13.65 billion a month ago.

Moody's downgrades Turkey rating to B1, maintains negative outlook

ISTANBUL, June 14 (Reuters) – Moody’s cut Turkey’s sovereign credit rating deeper into “junk” territory on Friday, saying the risk of a balance of payments crisis continued to rise, and with it the risk of a government default.

Moody’s downgraded the rating to B1 from Ba3 and maintained a negative outlook. It cut the rating to Ba3 from Ba2 in August last year. (Reporting by Daren Butler Editing by Sonya Hepinstall)

US STOCKS SNAPSHOT-Wall Street ends slightly lower with Fed in focus

June 14 (Reuters) – U.S. stocks ended lower on Friday, with investors cautious going into next week’s Federal Reserve meeting, while a warning from Broadcom of a broad weakening in global demand weighed on chipmakers.

The Dow Jones Industrial Average fell 17.16 points, or 0.07%, to 26,089.61, the S&P 500 lost 4.65 points, or 0.16%, to 2,886.99 and the Nasdaq Composite dropped 40.47 points, or 0.52%, to 7,796.66. (Reporting by Caroline Valetkevitch, Editing by Rosalba O’Brien)

3 ETFs That Track The Dow Jones Industrial Average

This article was originally published on ETFTrends.com.

Started in over 120 years ago, The Dow Jones Industrial Average (DJIA) is considered the granddaddy of all stock indexes. Often called the Dow, this index began in 1896 and is considered by many to be the foremost indicator of the health of Wall Street and the broader financial market. Unlike the S&P 500, which […]

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Sprint And T-Mobile Shares Percolate After Report Of Imminent DOJ Merger Approval

Shares in Sprint and T-Mobile ticked up late in Friday’s trading day after The New York Times reported that Department of Justice regulators are close to blessing the companies’ $26 billion merger.

T-Mobile closed at $74.90, up less than 1%, while Sprint jumped 3% to close at $7.01. The stocks have see-sawed in recent weeks as the regulatory hurdles became clear.

Negotiations between the DOJ and the companies have yielded a key concession, according to the Times report, which cited multiple unnamed sources: Both companies will sell enough assets that a new telecom competitor can be formed. Sprint and T-Mobile, as the Nos. 3 and 4 players, are seeking to gain scale to better compete with AT&T and Verizon.

An agreement for the asset sales could undermine an antitrust lawsuit filed this week by the attorneys general of 10 states, including New York and California. The suit alleges the deal will result in higher prices for consumers due to fewer companies operating in the wireless space.

T-Mobile and Sprint have agreed to divest of prepaid wireless unit Boost Mobile.

Executives from Dish Networks, including the satellite company’s chairman, Charlie Ergen, met with DOJ officials this week and laid out their objections to the merger. According to a regulatory filing, the Dish team expressed “the need for a minimum of four nationwide mobile network operators.”