Posted by Keyman188 > 2020-04-14 17:41 | Report Abuse

Markets have not hit the ‘absolute bottom’ yet, says Mark Mobius

(PUBLISHED TUE, APR 14 20204:11 AM EDT)

~ “I don’t think we’re at the absolute bottom yet because the implications of this shutdown are incredible,” Mark Mobius, the founding partner of Mobius Capital Partners, said. He added that “things are pretty bad” from the perspective of corporate earnings.

~ Analysts expect S&P 500 earnings growth to decline 10.2% in the first quarter year-over-year, according to Refinitiv.

~ Mobius also suggested that the damage from a protracted shutdown would be “incredible,” and called for the economy to open up again “in some way.”


Markets probably have not hit the “absolute bottom” yet, said veteran emerging markets investor Mark Mobius, who urged investors to keep cash on hand for buying opportunities.

“I don’t think we’re at the absolute bottom yet because the implications of this shutdown are incredible,” Mobius, the founding partner of Mobius Capital Partners, said. He added that “things are pretty bad” from the perspective of corporate earnings.

Earnings season is set to kick off Tuesday with JPMorgan Chase, Wells Fargo and Johnson & Johnson reporting numbers. The first batch of results will give investors a sense of how devastating the hit to corporations could be from the pandemic.

Analysts expect S&P 500 earnings growth to decline 10.2% in the first quarter year-over-year, according to Refinitiv.

Markets have, meanwhile, been volatile in the past month as the number of coronavirus cases and fatalities in the U.S. spiked sharply. Since the S&P 500′s all-time high on February 19, it’s down almost 19%.

The question on investors’ minds have been whether markets have reached a bottom. But Mobius urged people to keep more cash on hand in case another bottom occurs.

“Although there are some opportunities to buy, I would say it’s probably a good idea to keep some powder dry for another downturn. We might see a double bottom,” he said.

Mobius also suggested that the damage from a protracted shutdown would be “incredible,” and called for the economy to open up again “in some way.”

Many affected countries are under lockdown or stay-home measures because of the outbreak and authorities are debating when things can go back to normal.

But Mobius said: “I think we have to open up again in some way, because otherwise the collateral damage is going to be incredible. You think about the people who live day to day ... you got to get the economy going again.”

U.S. President Donald Trump last week said he wanted the economy to “open as soon as possible,” but won’t do so “until we know this country is going to be healthy.”

The U.S. Department of Health and Human Services reportedly projected that lifting stay-at-home orders, school closures and social distancing after just 30 days would lead to an infection spike this summer.


##https://www.cnbc.com/2020/04/14/mark-mobius-on-markets-bottom-investing-coronavirus.html

Posted by CharlesT > 2020-04-14 17:43 | Report Abuse

Wait loh...wait for another 10 years like ttb

Posted by CharlesT > 2020-04-14 17:45 | Report Abuse

Mark Mobius is TTB"s abang adik...everyday shouting for mkt crash doomday etc since many many years ago

Posted by Keyman188 > 2020-04-14 17:55 | Report Abuse

No matter how...

This month already wildly rebound back by 13.75% from last month low...

So no point battle with more & more resistance level....

Too bad...Today I finally have disposed quite substantial my portfolio...


1) CMSB @ 1.26 / 1.27 (all)

2) Muhibbah @ 1.03 (all)

3) Gadang @ 0.370 (all)

4) UMW @ 2.18 (1/3)

5) BAT @ 10.86 (1/3)


The rest holdings will closely monitor this coming few days then re-decide.....

Posted by Keyman188 > 2020-04-14 19:04 | Report Abuse

JPMorgan reports big decline in first-quarter earnings from coronavirus, but posts record markets revenue

PUBLISHED TUE, APR 14 20206:20 AM EDTUPDATED MOMENTS AGO

~ JPMorgan Chase is scheduled to report first-quarter earnings before the opening bell Tuesday.

~ Here’s what Wall Street expects: Earnings: $1.84 per share, a 31% decline from a year earlier, according to Refinitiv.

~ Revenue: $29.67 billion, a 0.6% decline from a year earlier.

~ Trading Revenue: Fixed income $4 billion, equities $2.08 billion


##https://www.cnbc.com/2020/04/14/jpmorgan-chase-jpm-earnings-q1-2020.html

Posted by freetospeak > 2020-04-14 19:10 | Report Abuse

dun b surprise dj will rally on bad earning...with 3 bad major unempolyment rally...i am not surprise.

Posted by Keyman188 > 2020-04-14 20:21 | Report Abuse

总警长：若病例继续增加·“行管令或延至6月”

(八打灵再也14日讯）全国总警长丹斯理阿都哈密提醒民众，如果因民众冥顽不宁而导致冠状病毒病病例继续增加，那么行动管制令可能会延长到六月份。

马来文报章《大都会日报》引述阿都哈密指出，为了阻断冠病传播，警方执行行管令不会有任何松懈，任何违令者都会被逮捕。

首相丹斯理慕尤丁宣布行管令将二度延长至4月28日，而明天我国将踏入第三阶段的行管令，而国防部高级部长拿督斯里依斯迈沙比利今日也宣布，自明日起，任何违反行管令的人士都会被警方逮捕及提控上庭，而不会再发出1000令吉的罚单，以确保民众不会再违反行管令。

除了严厉对付违反行管令的人士，军警人员也陆续在全国各地进一步增加路障以及封锁一些路段，以收紧民众的移动范围。


##https://www.sinchew.com.my/pad/con/content_2253591.html

Posted by Keyman188 > 2020-04-14 20:22 | Report Abuse

总警长：若病例继续增加·“行管令或延至6月”

(八打灵再也14日讯）全国总警长丹斯理阿都哈密提醒民众，如果因民众冥顽不宁而导致冠状病毒病病例继续增加，那么行动管制令可能会延长到六月份。

马来文报章《大都会日报》引述阿都哈密指出，为了阻断冠病传播，警方执行行管令不会有任何松懈，任何违令者都会被逮捕。

首相丹斯理慕尤丁宣布行管令将二度延长至4月28日，而明天我国将踏入第三阶段的行管令，而国防部高级部长拿督斯里依斯迈沙比利今日也宣布，自明日起，任何违反行管令的人士都会被警方逮捕及提控上庭，而不会再发出1000令吉的罚单，以确保民众不会再违反行管令。

除了严厉对付违反行管令的人士，军警人员也陆续在全国各地进一步增加路障以及封锁一些路段，以收紧民众的移动范围。


##https://www.sinchew.com.my/pad/con/content_2253591.html

Posted by Keyman188 > 2020-04-15 21:02 | Report Abuse

New York manufacturing hits record low reading of -78.2 amid coronavirus collapse

PUBLISHED WED, APR 15 20208:39 AM EDTUPDATED MOMENTS AGO

Manufacturing in the New York area fell by its biggest margin ever to a historic low far worse than anything seen during the Great Recession.

The Empire State Manufacturing Index for April hit -78.2, worse even than the -32.5 expected by economists surveyed by Dow Jones. The worst reading the index had seen was -34.3 during the financial crisis.

The index measures companies reporting better vs. worse conditions over the past month. Just 7% reported stronger conditions, while 85% said things had weakened.

As businesses shut down due to coronavirus restrictions, it was no surprise that firms in New York, which has been the epicenter of cases in the U.S., would experience a downturn or near total stoppage. However, the outlook ahead wasn’t much better, with the future expectations index registering a 7% reading.

“New orders and shipments declined at a record pace. Delivery times lengthened, and inventories fell. Employment levels and the average workweek both contracted at a record pace,” the New York Federal Reserve said in a release. “Input price increases slowed considerably, while selling prices declined modestly. Though current conditions were extremely weak, firms expected conditions to be slightly better six months from now.”

Nearly 59% of companies reported fewer employees against just 3.3% saying they had more. About 77% said new orders had fallen, while 76% reported a decline in shipments.


##https://www.cnbc.com/2020/04/15/new-york-manufacturing-hits-record-low-reading-of--78point2-amid-coronavirus-collapse.html

Posted by Keyman188 > 2020-04-15 21:05 | Report Abuse

Citigroup’s first-quarter profit tumbles 46% as bank sets aside more money for loan losses

PUBLISHED WED, APR 15 20207:59 AM EDTUPDATED 25 MIN AGO

~ Citigroup reported a sharp drop in its first-quarter profit as the bank built its loan-loss reserves by $4.9 billion.

~ Although the results were better than anticipated, it’s difficult to compare reported earnings to analyst estimates in light of the coronavirus pandemic.


##https://www.cnbc.com/2020/04/15/citigroup-q1-2020-earnings.html

Posted by Keyman188 > 2020-04-15 21:09 | Report Abuse

Goldman’s profit tumbled 46%, but bank posts strongest bond-trading results in 5 years

PUBLISHED WED, APR 15 20207:18 AM EDTUPDATED MOMENTS AGO

~ Goldman Sachs on Wednesday said first quarter profit dropped 46% as the coronavirus pandemic wiped out results in its asset management division. 

~ The bank said it earned $1.21 billion in the quarter, or $3.11 a share, missing the $3.35 estimate of analysts surveyed by Refinitiv.

~ While results were dragged down by losses in debt and equity holdings housed in the asset management business, the firm’s trading division exceeded expectations, helping companywide revenue of $8.74 billion top the $7.92 billion estimate. 

~ Goldman shares slipped 3.3% in premarket trading.


## https://www.cnbc.com/2020/04/15/goldman-sachs-gs-earnings-q1-2020.html

Posted by Keyman188 > 2020-04-15 21:13 | Report Abuse

Stock market live updates: Dow futures off 500, shocking economic data, bank earnings plunge

PUBLISHED WED, APR 15 20207:40 AM EDTUPDATED 7 MIN AGO



##https://www.cnbc.com/2020/04/15/stock-market-today-live.html



^^^ Prepare for 2nd waive & perfect storm coming around the corner

Posted by Keyman188 > 2020-04-15 23:51 | Report Abuse

The economic data is even worse than Wall Street feared: ‘The economy is clearly in ruins here’

PUBLISHED WED, APR 15 202010:19 AM EDTUPDATED 18 MIN AGO

Consumer and manufacturing reports for March showed the hit to the economy from the coronavirus was even swifter and deeper in the early weeks of the shutdown than expected.

March retail sales fell 8.7%, the most ever in government data, and New York regional manufacturing activity hit an all time low, declining a shocking 78.2%. Industrial production declined 5.4% and manufacturing was down 6.3%, a record reflecting the 28% decline in auto production as plants shut down.

The economic reports showed the double whammy of state shutdowns in mid-March on two pillars of the economy — the consumer and business. Both reports were even more dire than expected, and foreshadow even worse declines in April’s activity, with state shutdowns affecting areas responsible for more than 90% of the economy.

March retail sales fell 8.7%, a record drop, with the only sign of activity at grocery and beverage stores, which saw sales grow by 25.6%. Economists expected an 8% decline in monthly sales. The consumer accounts for 70% of the economy.

“The economy is clearly in ruins here,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “Nobody is buying cars, down 25.6%, nobody is buying furniture, down 26.8%, and eating and drinking places were down 26.5%.”

The economic decline, which started in the first quarter is expected to reach its trough in the second quarter. Economists expect an unprecedented drop of more than  30% in GDP for the second quarter. JPMorgan economists expected a 40% decline in the second quarter, on top of a 10% drop in the first quarter.

But now already negative first quarter GDP forecasts may also worsen, showing the economy began contracting at a rapid pace when businesses closed down, states ordered residents to stay home and President Donald Trump told Americans to stay out of restaurants and practice safe distancing.


Cont....


##https://www.cnbc.com/2020/04/15/the-economic-data-is-even-worse-than-wall-street-feared-the-economy-is-clearly-in-ruins-here.html