| August 24, 2022 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | Share, Options Volumes Are Sizzling This Summer Thanks to Meme-Stock Trading
WSJ
The stock market usually slows in the third quarter as Wall Street bigwigs head to the Hamptons. The summer of 2022 is proving to be busier than usual, and it might be thanks to little guys trading meme stocks.
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Get used to aggressive rate hikes and stop counting on a 'dovish' Fed pivot, market pros warn
Isabel Wang - MarketWatch
Stock-market investors should forget about a Federal Reserve "pivot" and get used to aggressive interest-rate hikes, said several market professionals who see no signs of a central bank pivot.
The summer rally in stocks finally cooled this week, as investors reconsidered an overly optimistic view that the central bank would pivot away from outsized rate hikes to fight inflation.
/jlne.ws/3QJfAhE
Financial markets are bracing for what could be a 'very hawkish' Jackson Hole speech by Fed's Powell
Vivien Lou Chen - MarketWatch
Financial markets are bracing for Friday's widely-anticipated Jackson Hole speech by Federal Reserve Jerome Powell and are expecting he'll signal the continued need for aggressive interest rate hikes to combat inflation despite the risks to economic growth.
That's the general takeaway from analysts, economists and investors in the run-up to Powell's remarks, a day after ex-dove-turned-hawk Neel Kashkari of the Minneapolis Fed said the central bank needs to push ahead with tightening monetary policy until inflation clearly moves down.
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This list of stock-market pros and cons offers clues about whether the summer rally is over, or just getting started
Joseph Adinolfi - MarketWatch
With the summer rally in stocks seemingly on hold as investors wait to hear from Federal Reserve Chairman Jerome Powell on Friday, one technical strategist has put together a list of 'pros and cons' that could help investors clarify their thinking about where the market is headed next.
John Kosar, chief market strategist at Asbury Research, said his firm's quantitative model for stocks suggests that the "tactical," or near-term, uptrend for the S&P 500 still has some room to run.
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Hedge funds suffer big outflows in Q2 - data
Nell Mackenzie - Reuters
Investors yanked a net $7.8 billion out of hedge funds in the second quarter, industry data published on Wednesday showed, as volatile markets sent many looking for safer places to keep their cash.
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Watch Volatility, Uncertainty in Oil Market
Bloomberg (Video)
Sara Vakhshouri, SVB International president, discusses 'rapid' oil market volatility and uncertainty. She speaks with David Westin on Bloomberg's "Balance of Power."
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| | | | | | Exchanges | | | Product Modification Summary: Reminder on Juneteenth 2023 impact on Final Settlement Date for CME Eurodollar Futures and Options
CME Group
Notice Date 23 August 2022; Effective Date 23 August 2022. Reminder that due to Juneteenth as exchange holiday on June 19, 2023, the final settlement date for Eurodollar June 2023 Futures and Options will be June 20, 2023. The last day of trading will remain June 19, 2023. The final settlement date is the first date for which money is banked to the final settlement price.
/bit.ly/3pHPksc
FINNIFTY derivatives surpass trading of 1 crore contracts on a single day
NSE
FINNIFTY derivatives (Nifty NSE Financial Services Index derivatives) on NSE witnessed trading activity of more than 1 crore contracts today for the first time since its launch. The Exchange had launched index derivatives on the Nifty Financial Services Index on January 11, 2021. Today, exchange witnessed trading of 1.07 crore contracts with premium turnover of Rs. 869.21 crores in options and 347 contracts worth Rs. 24.77 crores in futures.
/bit.ly/3pM7Mja
| | | | | | Regulation & Enforcement | | | Payment for Order Flow Worries the SEC. Perhaps It Shouldn't, Study Indicates.
Barron's
Critics of retail brokers like Robinhood Markets condemn those companies for routing customers' orders to market makers like Citadel Securities in exchange for payments. Gary Gensler, the chair of the Securities and Exchange Commission, has suggested banning those payments for order flow, arguing that those customers must be getting worse pricing on their stock trades.
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| | | | | | Strategy | | | Rise in Volatility Leads VIX ETFs Higher
Nasdaq
With most stocks falling yesterday, the Cboe Volatility Index (VIX), also known as Wall Street's fear gauge, jumped 15.5% to close the day at 23.80. This was the index's highest closing level in almost three weeks.
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| | | Jeff Bergstrom
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