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How major US stock indices fared on Wednesday

Joey J. Garrison — Wed, 16 Mar 2022 23:21:44 +0000

Stocks shrugged off an afternoon slump and ended higher on Wall Street on Wednesday after the Federal Reserve announced its first interest rate hike since 2018.

Bond yields also rose as the Fed began to shift its policy focus to fighting inflation. As markets had expected, the Fed raised its short-term rate by 0.25 percentage points. The move marks a move away from keeping the ultra-low interest rates it had in place during the worst part of the pandemic, which were meant to stimulate the economy, by the Fed. Now that prices are rising, that is changing course.

Wednesday:

The S&P 500 rose 95.41 points, or 2.2%, to 4,357.86.

The Dow Jones Industrial Average rose 518.76 points, 1.5%, to 34,063.10.

The Nasdaq gained 487.93 points, or 3.8%, to 13,436.55.

The Russell 2000 Small Business Index rose 61.75 points, or 3.1%, to 2,030.72.

For the week:

The S&P 500 is up 153.55 points, or 3.7%.

The Dow is up 1,118.91 points, or 3.4%.

The Nasdaq is up 592.75 points, or 4.6%.

The Russell 2000 is up 51.05 points, or 2.6%.

For the year:

The S&P 500 is down 408.32 points, or 8.6%.

The Dow is down 2,275.20 points, or 6.3%.

The Nasdaq is down 2,208.42 points, or 14.1%.

The Russell 2000 is down 214.59 points, or 9.6%.

Asian stocks mostly fall as crude slides to $100 a barrel

Joey J. Garrison — Tue, 15 Mar 2022 04:09:24 +0000

stock index in Hong Kong, Monday, March 14, 2022. Stocks were mixed in Asia and oil prices were flat on Monday as Uncertainty over the war in Ukraine and persistently high inflation left investors guessing what to expect. (AP Photo/Kin Cheung)” title=”A woman wearing a face mask walks past a bank’s electronic board showing the Hong Kong stock index in Hong Kong, Monday, March 14, 2022. Stocks were mixed in Asia and oil prices were flat on Monday as Uncertainty over the war in Ukraine and persistently high inflation left investors guessing what to expect. (AP Photo/Kin Cheung)” loading=”lazy”/>

A woman wearing a face mask walks past a bank’s electronic board showing the Hong Kong stock index in Hong Kong, Monday, March 14, 2022. Stocks were mixed in Asia and oil prices were flat on Monday as Uncertainty over the war in Ukraine and persistently high inflation left investors guessing what to expect. (AP Photo/Kin Cheung)

Kin Cheung

BANGKOK

Asian stocks were mostly down and oil prices fell on Tuesday after another day of losses on Wall Street, anxiety over the war in Ukraine and an upcoming Federal Reserve meeting on interest rates. keeping global financial markets on edge.

Markets remain confused as investors try to assess the various economic impacts of the war in Ukraine, upcoming rate hikes by central banks and new virus lockdowns in China. Tokyo rose while markets in China, Australia and South Korea fell.

Shares have fallen sharply in Hong Kong recently, falling to nearly six-year lows after neighboring Shenzhen was ordered to shut down to battle China’s worst COVID-19 outbreak in two years.

The Hang Seng index lost 2.4% on Tuesday morning to 19,068.49, while the Shanghai Composite fell 2.1% to 3,157.14.

Tokyo’s Nikkei 225 rose 0.3% to 25,385.11, while Seoul’s Kospi fell 0.6% to 2,630.34. Australia’s S&P/ASX 200 slipped 0.6% to 7,108.80 and shares also fell in Taiwan and Bangkok.

Oil prices fell, easing some inflationary pressure sweeping the world, with U.S. crude falling below $100 a barrel after hitting $130 last week.

U.S. crude fell $4.14 to $98.87 a barrel in electronic trading on the New York Mercantile Exchange. It fell from $6.32 to $103.01 on Monday.

Brent crude, the standard for international oil pricing, fell $3.90 to $103.00 a barrel.

Uncertainty over whether the global economy could be headed for a toxic combination of stagnant growth and persistently high inflation has led to a resumption of the pandemic in question, Russia’s invasion of Ukraine causing the prices of oil, wheat and other commodities produced in the region to skyrocket.

This has led to sharp day-to-day and hour-to-hour reversals in the markets as expectations of worsening inflation rise and fall.

“Markets seem to have tampered with a strange mix of hope, fear and uncertainty,” Mizuho Bank said in a comment.

On Monday, negotiators from Russia and Ukraine met via video conference for a new round of talks, after both sides expressed some optimism in recent days. The talks ended without a breakthrough after several hours. The negotiators took “a technical break”, said Ukrainian presidential aide Mykhailo Podolyak, and planned to meet again on Tuesday.

Investors were already worried before the start of the war because central banks around the world are preparing to end the stimulus measures they injected into the global economy after the outbreak of the pandemic.

Most people expect the Federal Reserve to raise its main short-term interest rate by a quarter of a percentage point on Wednesday. It would be the first increase since 2018, and it would take the federal funds rate down from its all-time high of near zero.

On Monday, the S&P 500 gave up an early gain and closed 0.7% lower at 4,173.11, while the Dow Jones Industrial Average was virtually unchanged at 32,945.24. The Nasdaq fell 2% to 12,581.22.

Shares of smaller companies also fell. The Russell 2000 Index slid 1.9% to 1,941.72.

The pullback came as the 10-year Treasury yield hit its highest level since the summer of 2019.

The 10-year Treasury yield climbed to 2.16% from 2.00% on Friday evening after hitting its highest level since July 2019. The two-year yield, which moves more on expectations of policy changes of the Fed, went from 1.75% to 1.86%. .

The Fed faces the challenge of raising rates just fast enough and high enough to fight inflation without overdoing it and causing a recession.

The war in Ukraine makes the balancing act even more difficult. He’s pushing inflation higher by raising the prices of everything from nickel to natural gas. And it threatens to stunt economic growth.

In currency trading, the dollar rose to 118.34 Japanese yen, its highest level in about six years, from 118.18 yen on Monday night. The dollar tends to serve as a safe haven in times of crisis, and the prospect of higher interest rates enhances its appeal to investors.

The weak yen is a boon for Japanese exporting manufacturers as it makes their products relatively cheaper and more competitive in overseas markets. Shares of Toyota Motor Corp. gained 2.5% early Tuesday,

The euro fell from $1.0941 to $1.0979.

____

AP Business Writers Stan Choe, Alex Veiga, and Damian J. Troise contributed.

Tesla Stock: It Can Counter Rising Costs of Entry (NASDAQ: TSLA)

Joey J. Garrison — Sat, 12 Mar 2022 04:51:00 +0000

jetcityimage/iStock Editorial via Getty Images

Many may be puzzled as to why we are taking opposing positions on Ford (NYSE:F) and Tesla (NASDAQ:TSLA); However, there is a significant disparity between the majority of automakers and Tesla due to the lifecycle of the industry and how investors value the respective stocks.

This article covers Tesla’s outlook given a surge in commodity prices. There has been a contentious debate where some have taken a stand and asserted that rising metal prices will increase variable costs and lead to less growth, while others argue that rising fossil fuel prices will trigger a buying spree for electric vehicles. This article takes a bird’s nest view and dissects both sides of the argument structurally and in reduced form.

Recent growth

Efficiency

I was quite surprised when I came across these measurements. I’ve analyzed the business segments of a few large companies over the course of my career, and we typically look at segment revenue and cash flow relative to CapEx while considering the level of CapEx relative to the past. I will, however, talk about Tesla’s company-wide metrics.

Tesla’s CapEx, which is its internal reinvestment rate, increased by 14.97x year-over-year as production ramps up, expansion into Texas with headquarters, factory expansion in Germany, and Chinese market penetration .

That being said, Tesla’s cash flow to CapEx has increased 3.4x over the past year, its Capex to revenue has improved by 62.80% and its operating margins improved 2.1 times. Keep in mind this was during a time of rising input costs.

Expansion

It is also clear that Tesla management anticipated an increase in demand with an increase in finished products. You typically want to look at the entire pipeline of raw materials, work in progress, and finished goods and look for alignment when determining demand. It’s obviously an internal way of looking at things, but it gives substance.

Tesla 10-K

Finally, for this section, I would like to provide an overview of business expansion in China. Although Tesla’s sales in China fell by 5.6% month-over-month for February, it still produced 200% year-over-year growth, suggesting it is entering a robust consumer market with a vengeance. It is critical for a business to grow globally when it is susceptible to sales volatility; in effect, it allows it to no longer rely on the health of a single geographic consumer base and, in turn, to reduce the risks associated with the outlook for its stock. I see huge benefits for Tesla’s expansion into an economy with a huge GDP to say the least.

Commodity Price Analysis

Much has been made of the commodity price spike and its impact on Tesla shares. While this will impact the company’s variable cost, I don’t think it will have a massive impact on its share price.

Historically speaking, Tesla investors didn’t hesitate much when metal and mineral prices rose, in fact there was a positive correlation.

Why could this be? Well, the stock market is looking forward and probably separating Tesla’s hypergrowth model from transient/highly elastic inflation. Don’t get me wrong, I think rising metal prices will have a massive impact on many auto stocks, but Tesla’s “best in class” status could prevent it from being correlated with other auto stocks. .

Additionally, Tesla’s status is still that of a Veblen product that serves a niche market, allowing its sales to be less susceptible to negative macroeconomic factors than more traditional automakers. Many analysts have argued that rising fossil fuel prices are a reason consumers are turning to electric vehicles. I think this is invalid because I don’t see how the masses would refinance a new vehicle when they are already financially stressed in the first place. Moreover, non-core inflation is more elastic than core inflation; most people who can finance vehicles have enough life experience to know that energy prices will trade in equilibrium over the lifetime of their car ownership (assuming they don’t change in any way maniacal). Thus, I see Tesla as a trend rather than its efficiency contributing to mass purchases; otherwise, we would have also seen the previous electric vehicles selling like hotcakes?

Bloomberg

To wrap up this section, I’d like to touch on a few macro factors. First, the commodity price spikes ex-post and in their current form have been mostly driven by push factors. I believe there was a massive overreaction during Covid-19 and subsequently with the Russian-Ukrainian conflict. I’m not saying in a linear way that commodity prices won’t be high for the foreseeable future, however, commodity prices tend to top in the short term and stay down in the long term, and that Won’t surprise me if traders soon overreact on the downside.

Let’s look at purchasing power and reopenings to provide a potential trade-off scenario.

First, consumer purchasing power has declined significantly over the past year, suggesting that we are likely to experience lower demand for industrial and precious metals in the near term, as they are directly tied to general consumption expenditure. To contextualize, you will only produce items at a rate that you expect consumers to buy, unless you are in a niche market like Tesla.

Second, we are seeing less stringent Covid policies. Reopenings will likely increase capacity for metal producers, which will likely contribute to price headwinds.

Our world in data

So, to sum up, I’m not implying that commodity prices will be cheap (relative to break-even point) over the next few years; however, I would argue that current price levels are overblown, and it’s clear that Tesla’s stock is forward-looking, meaning it’s unlikely to be as sensitive to transient commodity costs as it is. other industrial/consumer discretionary goods.

Evaluation

Many look to Tesla’s price/earnings ratio and its other price multiples to conclude that Tesla is overvalued, but that’s too simplistic a way to go about it. First, let’s justify the company’s PE.

Source: Alpha Research

Yes, Tesla’s PE ratio is outrageous, but if we look at its PE versus earnings growth, it’s actually still an undervalued metric. The PEG ratio has a value threshold of 1.00 and, in the case of Tesla, suggests that its earnings growth is currently outpacing its stock growth by about 3.85 times, leaving investors plenty of room to maneuver. to capture value.

The second argument is for an asset-based valuation, which gives us a fair value of $863.25. That in itself suggests the stock is undervalued based on past results, let alone future growth. If you see a stock trading at its current net asset value, you know it is valued by the market and trading rationally; however, Tesla is undervalued.

Enterprise Value (EV)	$880.34 billion
Cash (NYSE:C)	$17.71 billion
Market value of debt (NYSE:D)	$8.90B
Outstanding shares (NYSE: N/A)	1.03 million
The formula	(EV – D + C)/SO

Source: Alpha Research

Risks Explained

Although I have argued that rising commodity prices will not have a massive effect on Tesla stock, there is still a need to discuss the risks associated with it. I’m going to skip the obvious of rising variable costs, and I’m going to address hedging activities. To our knowledge, Tesla is not hedged against commodity prices, and that’s a bit of a rookie mistake; as a manufacturer, you would always want to hedge against input costs. I don’t know if Tesla has initiated any hedges since publishing its 10-K report in February. However, failure to do so could harm the effectiveness of the company’s financial management.

Also, from a stock perspective, Tesla has a worse Sharpe ratio than last year. The Sharpe ratio is a function of expected return relative to overall market volatility.

Why should this matter? Because you are essentially invested in a risky asset that does not justify the returns as well as in the past, therefore switching to an investment with more positively biased returns could be a valid option.

Last word

Tesla shares have a history of fending off rising input costs. The company has produced robust growth efficiently over the past year, which has also driven prices higher. Its expansion into China bodes well, given that it is less dependent on a single economy. The stock is also still undervalued, contrary to popular opinion.

We remain bullish on Tesla despite rising input costs.

Miners in Australia and South Africa mull options as Europe makes desperate pleas By Reuters

Joey J. Garrison — Wed, 09 Mar 2022 21:15:00 +0000

By Helen Reid and Praveen Menon

(Reuters) – Australian and South African miners are exploring ways to supply coal and metals consumers in Europe seeking alternative sources to Russian supplies, but logistical and cost constraints make it difficult to scale up rapid production, the companies said.

Prices for palladium, coal and other raw materials have soared since Russia invaded Ukraine on Feb. 24, as sanctions on Moscow push Western consumers to replace Russian supplies.

Customers are approaching suppliers with whom they have no existing relationship, desperate to secure products, major producers said. Miners typically use long-term contracts, which makes oversupply rare.

Palladium, used by automakers in engine exhaust to reduce emissions, hit a record high on Monday before falling back. Russia accounts for 25-30% of the world’s palladium supply.

South Africa’s Sibanye-Stillwater, the world’s largest primary platinum producer, said some customers had asked about its ability to produce more platinum group metals (PGMs), but it was very little flexibility to increase production in “any material way” in the short term. medium term.

“It is possible to accelerate projects but (…) it is not a magic bullet and it will usually take months or even years before the benefits are apparent,” Sibanye said in response to the comments. questions from Reuters.

Automakers, which use palladium in engine exhaust to reduce emissions, will begin replacing palladium with platinum if palladium prices remain high, Sibanye CEO Neal Froneman said last week.

The automotive industry is expected to account for 42% of overall platinum demand this year, up from 37% in 2021, according to forecasts by the World Platinum Investment Council on Wednesday.

Platinum prices also rose on Russian supply uncertainty, but more subdued as platinum is expected to remain oversupplied this year.

South Africa’s Impala Platinum (OTC:), the world’s third-largest producer of palladium, also said it had limited capacity to fill the gap left by Russian palladium supplies. Russia’s Norilsk Nickel alone produces around 38% of the world’s palladium and 11% of the world’s platinum, Sibanye said.

As miners profit from rising metal prices, Sibanye’s Froneman warned that supply chain disruptions could have a destructive impact on downstream demand.

More expensive metals are also a headache for automakers hoping to make electric vehicles more affordable.

AVOID RUSSIAN COAL

European companies, which depend on Russia for 70% of their coal supplies, are also turning to Australian miners for fuel supplies.

“Because of the conflict, we are responding to Europe’s demands for security of coal supply,” said Gerhard Ziems, chief financial officer of Coronado Group, one of the world’s largest producers of metallurgical coal, used in the steel industry.

Coronado will increase production to around 18-19 million tonnes (Mt) in 2022 from 17.4 Mt last year, he said. Ziems estimated that Russia exports about 45 million metric tons of met coal per year.

“In circumstances where the international community avoids Russian coal, supply shortages must come from elsewhere, including established markets such as Australia and the United States in which Coronado operates,” he said. declared.

Australia’s leading independent producers, Whitehaven Coal and New Hope (OTC:) Group, said they had been approached to supply countries, including Poland, that traditionally depended on Russian coal, and the latter said it was looking for ways to to supply the European market. .

“We have a mix of contract and spot sales, which allows us to take advantage of tactical opportunities in the market,” a Whitehaven spokeswoman told Reuters.

The Australian government said last week it would help its Western coal-importing allies find alternatives to Russia for supplies by connecting them with local producers.

Glyn Lawcock, head of mining research at Barrenjoey, said that while the idea sounded simple, the execution was not, as Australian miners were already in full swing.

“It’s not like people have volumes to distribute. Ukraine/Russia produces high quality pellets for the markets…there’s no one dealing with surpluses,” said Lawcock.

In a sign of market stress, coal prices for loading at Newcastle – the world’s largest coal port on Australia’s east coast – soared to a record $440 a tonne last Wednesday, a five-fold jump from compared to a year ago.

Australian Resources Minister Keith Pitt said this was an opportunity for Australian miners and called for the expansion of coal mining in the country as it could help desperate European nations wean themselves off the Russian coal.

Spotify stock hits lowest price since March 2020. Can stocks rebound?

Joey J. Garrison — Fri, 04 Mar 2022 23:59:20 +0000

Spotify (NYSE: SPOT) stock broke 3.46% of its value today and briefly hit a 52-week low of $134.09 per share. Now many are speculating about SPOT’s short-term trajectory and long-term outlook.

At market close today, Spotify stock was worth $135.17 per share, having rebounded from the aforementioned 52-week low of $134.09 per share that occurred earlier in the afternoon. SPOT’s end-of-day value reflects a 10.86% drop from Monday morning, when the shares were trading around $152 each, as well as a more than 50% drop from the start of March 2021, when the shares were hovering around $275 each.

Additionally, Spotify’s current stock value is the lowest since the onset of the COVID-19 pandemic in March 2020, when SPOT fell into the low $120s. (The title then rebounded slightly in April 2020 and, following the May 2020 announcement that Spotify would become the exclusive home of The Joe Rogan Experienceembarked on an ascent that culminated in a price of nearly $365 per share in February 2021.)

As for possible reasons for Spotify’s stock pullback – and SPOT’s way forward – Russia’s invasion of Ukraine, inflation and related concerns “will continue to dominate markets over the week. to come,” according to finance professionals. The S&P 500 fell 1.3% this week, while the NASDAQ lost 2.8%.

It’s possible that the conflict in Ukraine is also contributing to SPOT’s woes due to its impact, especially on Spotify’s operations. Spotify rolled out to Russia (along with 12 other European countries) in July 2020, and Q3 2020 highs said the launches had “unlocked significant pent-up demand… with Russia being the biggest upside driver “.

Markets including Russia made “significant contributions” to total monthly active users (MAUs), Spotify revealed in Q1 2021, and executives in Q3 2021 acknowledged their partnership “with the largest all-digital bank of Russia” to offer fans three-month free trials.

But as Spotify closed its office in Russia and kicked state media out of the platform, it remains to be seen whether domestic subscription targets will materialize in the first quarter of 2022. Additionally, the Russian government has blocked today access to Twitter and Facebook nationwide.

The points are significant as Spotify in Q4 2021 forecast 418 million MAUs and 183 million subscribers for the following quarter – the latter total representing an increase of just three million. Of course, Russia and its more than 144 million people factored in that modest subscriber estimate, which seemed to sway many investors to sell SPOT.

Granted, Spotify stock was worth over $200 per share in early February, and SPOT suffered a double-digit decline immediately following the release of the Q4 2021 earnings report. Nonetheless, it should be noted in conclusion that several investors are extremely optimistic about SPOT’s long-term potential.

And today, investment firm The Benchmark Company set a target value for Spotify stock at $260 per share, estimating that “the current share price implies only 250 million premium customers in 2030”.

The Economic Consequences of Vladimir Putin’s War

Joey J. Garrison — Sun, 27 Feb 2022 13:18:50 +0000

CAMBRIDGE, Mass. – Russia’s invasion of Ukraine was swift and dramatic, but the economic consequences will be much slower to materialize and less dramatic.

The war itself is extremely tragic, first and foremost for the Ukrainian people, but also for the Russian people and the world order in general. When something like this happens, we expect it to be like a morality play in which all the bad consequences happen equally dramatically across all dimensions, including the economy. But the economy doesn’t work that way.

Admittedly, the financial markets reacted quickly to the announcement of the Russian invasion. The MSCI All Country World Index, a leading indicator of global equities, fell to its lowest level in nearly a year. The price of oil rose above $100 a barrel, while natural gas prices in Europe initially jumped nearly 70%.

These increases in energy prices will have a negative effect on the global economy. Europe is particularly vulnerable, as it has done little in recent years to reduce its dependence on Russian gas, and in some cases, notably Germany, which has abandoned nuclear, it has even exacerbated it.

Oil-importing countries will be penalized by rising prices. The United States is more hedged: because its oil production equals its oil consumption, more expensive oil is roughly neutral for gross domestic product. But rising oil prices will hurt American consumers while helping a more limited segment of businesses and workers tied to the oil and gas industry. Soaring prices will also add to inflation, which is already at its highest level in a generation in the United States, Europe and other advanced economies.

But it is necessary to take a step back from these immediate consequences. At $100 a barrel, oil is about a quarter below its inflation-adjusted price between 2011 and 2014. Additionally, oil futures prices are below spot prices, suggesting that the market expects this increase to be temporary. Central banks could therefore largely weather events in Ukraine, neither delaying the tightening nor accelerating it in response to rising headline inflation. And global stock markets are still up over the past year.

Likewise, although the Russian stock market has fallen significantly since the start of the invasion, Western sanctions are unlikely to have immediate dramatic effects. Sanctions rarely do this; they are simply not the economic equivalent of the bombs that Russia is currently dropping on Ukraine.

Moreover, Russia is better prepared than most countries to face sanctions. The country ran a huge current account surplus and accumulated record foreign exchange reserves of $630 billion, enough to cover nearly two years of imports. And while Russia depends on revenues from Europe, Europeans depend on Russian oil and gas – which may be even harder to replace in the short term.

But, in the longer term, Russia is likely to be the biggest economic loser from the conflict (after Ukraine, whose losses will go well beyond what can be measured in national accounts). Russia’s economy and the well-being of its people have stagnated since the Kremlin annexed Crimea in 2014. The fallout from its current large-scale invasion will almost certainly be more severe over time. Sanctions will claim more and more victims, and Russia’s growing isolation, as well as heightened investor uncertainty, will weaken trade and other economic ties. In addition, Europe can be expected to reduce its dependence on fossil fuels vis-à-vis Russia.

The longer-term economic consequences for the rest of the world will be much less severe than they are for Russia, but they will remain a persistent challenge for policymakers. There is a risk, albeit relatively unlikely, that the rise in near-term inflation will become rooted in increasingly less anchored inflation expectations and therefore persist. If that happens, the already difficult job of central banks will become even more complicated.

In addition, defense budgets are expected to increase in Europe, the United States and some other countries to reflect the increasingly dangerous global situation. It won’t reduce GDP growth, but it will reduce people’s well-being, because resources dedicated to defense are resources that cannot be spent on consumption or investment in education, health or infrastructure.

The medium and long-term consequences for the global economy of Russia’s invasion of Ukraine will depend on the choices. By invading, Russia has already made a terrible choice. The United States, the European Union and other governments have made initial choices on sanctions, but it remains to be seen how Russia will react to them or if new sanctions will be imposed. As sanctions and counter-responses intensify, the costs will be greater – first and foremost for Russia, but also to some extent for the rest of the global economy.

Global economic relations are positive-sum, and Russia’s growing isolation will remove a small positive. More broadly, uncertainty is never good for the economy.

But, as the world continues to react to the Russian invasion, worries about GDP seem small by comparison. Much more important is a world where people and countries feel safe. And it’s something worth paying for – even more than world leaders have paid so far.

Jason Furman, former Chairman of President Barack Obama’s Council of Economic Advisers, is a Professor of Economic Policy Practice at Harvard University’s John F. Kennedy School of Government and a Senior Fellow at the Peterson Institute for International Economics. © Syndicate Project, 2022

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10 Common Reasons People Use Payday Loans | Ask the Experts

Joey J. Garrison — Fri, 25 Feb 2022 01:52:00 +0000

Struggling to fund an emergency? What should you do if you need money right now? First of all, assess the situation and do not make hasty decisions. Payday loans play a good role here to help you pay off your debt and spend the necessary amount of money for emergency expenses.

We recommend the option of taking out a payday loan DirectLoanTransfer if you have a short-term disruption to your finances. Thus, you can repay your debt in just one to two months and calmly continue to pay your loans on time.

More often than not, we find ourselves in a financial bind. Suppose you spread yourself too thin and exhaust your borrowing options. Now what? Let’s take a look at 10 good reasons why people take payday loans.

Reasons to get a payday loan

1. When you can’t afford major purchases

A client took out payday loans to buy new appliances, a cell phone, a fur coat for his wife, a car and winter tires. He was able to finance all of these purchases with payday loans while saving money to pay for his personal needs and necessities, such as food, gas, and clothing.

2. To avoid empty pockets

Over the past 15 years, a customer has taken out about 10 loans to buy a camera, two tablets, two phones, and new furniture. Taking out payday loans allowed her to buy what she needed and still have money in her pocket. These were well-calculated decisions that helped the client get the necessities without spending all her money.

3. Out of madness

A customer broke his phone. Unfortunately, he had no savings, so he took out a loan. Therefore, the customer filled out a request directly in the store, but only one bank responded. The fees and interest rates on this bank loan were thousands of dollars more than the original amount he had borrowed. After this realization, he decided to look into payday loans instead. The client received money instantly and didn’t have to worry about trailing payments that accrue interest. With payday loans, he got his phone and paid off the debt in just one month – easy and hassle-free!

4. If there is not enough will to accumulate

Let’s say you took out two payday loans, the first for remote programming lessons and the second for a digital piano. One has already been paid, the other is being paid. There is not enough will to save on such acquisitions. Each time, think carefully about the need to apply for a payday loan. Consult specialists from different banks and don’t forget to consider different payday loan offers. Due to this, thanks to the training, you will receive attractive offers of personal loans from the management, and the piano will become a source of additional income.

5. To raise the standard of living

A payday loan is a great opportunity to get an item at a discount. You can close the debt on the first payment, saving a little. Credit cards help you get certain things without overpaying but a little earlier. Payday loans will help you raise the bar on quality of life. It is not because there are things that are borrowed. Indeed, you will start thinking in slightly different numbers with a payday loan.

6. Live until the next paycheck

Payday loans can help solve urgent and unexpected financial difficulties, but sometimes high rates and overpayments can create long-term problems in a family’s budget. Now we have to work for the loans. All the money is divided into two categories: repayment of the loan and somehow stretching the salary.

7. In order not to constrain oneself in desires

Payday loans can be taken on a whim. For example, if you suddenly wanted to renew your fleet of vehicles and it was uncomfortable to withdraw the full amount of traffic and savings, even if formally there was such an opportunity. You took about a few thousand dollars for six months for an iPhone. You can afford to take out a payday loan. You could take it for a wedding so as not to be afraid of desires, which is about 700,000 for three years.

A personal loan is a practical tool if it is not coerced. If credit money helps accelerate the rate of capital growth or get the feeling now and pay it back later, then that’s a good reason to agree to take out a payday loan.

8. In order not to choose what to buy

When repairing an apartment, money is needed for plastic windows or TV. Suppose you need to borrow several thousand dollars for a television. Let’s say it would be a shame if you gave more than five thousand a month, but the way of life will not change. It is likely that you will not regret having taken out a personal loan. Nevertheless, in the future, think about how you could save in advance.

9. To spend money on the most important

Suppose you have taken out many small loans that could amount to hundreds of dollars. You close one and immediately organize the next, for example for studies, treatment, travel, expensive furniture or equipment. In general, for whatever is most important. Additionally, you can use a credit card with a limit of a few thousand. Loans are always closed ahead of schedule in two or three months while spending money on useful and necessary things that you could not save for in any way and not on momentary pleasures like a bottle of expensive alcohol or unnecessary clothes.

10. When there are no other options

Let’s say the roof of your house was in a terrible state. Suppose an urgent repair is needed, but it would be impossible to save such an amount even if the whole family saved the entire salary. Then a payday loan is a very good option.

Payday loans in Norwalk Fairfield County Ct –

Joey J. Garrison — Sat, 12 Feb 2022 18:12:23 +0000

This is a very common situation among freelancers because their income is not the same all the time. I didn’t want to ask my partner for money, so I turned to Payday-Loans-Cash-Advance.net. The potential lender was found a few hours after the application was approved. The next day after submitting the application, I was credited with $1,000. It’s not really a big sum for me, but it happened to be missing. The lender was a surprisingly honest, legal person. Thank you Payday-Loans-Cash-Advance.net for choosing an honest and decent lender.

Because the payday loan is supported by many, they are available in many places in the city. You just need to search for Connecticut 24 hour payday loans in your area. You can apply for it at the storefront or even https://cashnetusa.biz/ through the online platform. Also, one can find the most legitimate lenders nearby using the Google search engine. You just need to enter a search term like Connecticut payday loans near me.

How to apply for a payday loan in Connecticut without a checking account?

The main purpose of borrowing money this way is to manage your money and pay it back quickly. There are many different reasons why do we need Norwalk Connecticut Easy Payday Loans. Ask your friends and co-workers if they’ve ever needed quick cash. They would probably say “yes,” and here are the most common reasons. You should always check with the lender before agreeing to the deal as payday loans are not legal in Norwalk in general. This type of loan is not allowed by the Norwalk Connecticut Criminal Code, so be careful when you are already in trouble. This type of payday loan in Connecticut, CT is not only for application procedures but also for repayment. He has provided solutions to many people who need money for urgent issues. Therefore, one must consider Checkmate payday loans in Connecticut as an option to fix one’s transactions and avoid going into debt.

In this case, the final sum would not be enough to cover your debt.

A payday loan is a short-term loan, usually ready to be repaid on the borrower’s next pay date.

Being approved for a bad credit loan in Norwalk will depend more on how the lender assesses your risk than your credit score alone.

The best way to get a loan is to use the services of the online company.

Norwalk residents can try to fund larger/higher expenses by applying for one of these larger loans. Under pressure, an ordinary bank loan may not be suitable for you. Generally, Connecticut payday loans are issued for the period of fourteen days to one month. For most debtors, this is enough to refinance and restructure their expenses and pay off debts. Many payday lenders will ask you to complete a background check, fraud check, and possibly a credit check. It’s a good idea to fill everything out and talk to them honestly because if there are any “red flags” your credit is unlikely to be approved. One can use this loan for emergencies such as medical bills, utilities and rent. It is not essential to provide the paycheck as part of a payday loan. The borrower can provide the money, as many lenders always authorize the money to a potential creditor. Earnings from your Norwalk title loan in Connecticut CT depend on the option available with your lenders.

Bad Credit Loans in Norwalk, Connecticut

Signature Bank also has an online platform that provides access to financial products day and night. We realize how disappointing it can be when lenders tell you “no” over and over again. This will not happen again if you apply for a loan through our website. The financial institutions in our network value each application and treat you individually. They might have a product available that is not offered by Payday Loans Norwalk Connecticut online lenders. Friends and family are convenient options for borrowing money without having to repay on a strict schedule. Your car title becomes lien free through various means like electronically, manually, by submitting an official form with your vehicle title information. If you are going through a financial emergency, you need to be sure to talk about it with someone who can help you.

These loans usually have high interest rates as they do not involve any guarantor. As such, a Connecticut payday loan is a solution to many financial crises. But it is necessary to put in place a good management to avoid detrimental consequences to the borrower. Some of these features of a payday loan in Connecticut are similar to easy payday loans in Las Vegas.

You can decide if you can handle these conditions, or it can lead you directly to bigger financial problems. First, let’s clarify for all of us what a payday loan is. This loan is asset-based, which means you have to prove your ability to repay in case you don’t have money on the repayment date. To be more specific, American payday loans in Norwalk, Connecticut. You can request it even from home or from the restaurant. Simple, quick and very comfortable – a perfect solution for every Norwalk resident who needs it right now.

You can find the app on the right side of the webpage. When you repay the loan, the lien is removed and your salary is put back in place. However, if a borrower defaults on the loan, the lender can take the vehicle from their possession and sell it for the borrower’s debt. In general, payday loans, also called payday loans, mean that you have to use your money as collateral. When you qualify for a payday loan, a lender asks you to locate a lien on your payday, simultaneously delivering the hard copy of the applied payday to your file. The payday loan application forms are extremely simple.

Norwalk Payday Loans No Current Account

Payday loans are generally granted for a period of one month. Norwalk CT borrowers don’t have to spend a lot of time getting payday loans. Payday loans are granted to a borrower who has made a personal application to the credit company or used the company’s online services. The best way to get a loan is to use the services of the online company. People who apply for a Norwalk Connecticut loan through the site must complete an online form.

Fill in the form with personal information, the direct partner will process it, make an instant decision and you will receive the money within one business day. Almost all borrowers in Norwalk, Connecticut over the age of 18 can sign a loan agreement with a credit company. You can make your repayment sooner with no additional fees or penalties, so you can pay off your loan as quickly as you want. The best payday loan allows you to get a loan from the comfort of your own home. These days, you don’t even need to have any special skills to make money on the internet.

Can COIN rebound from dips?

Joey J. Garrison — Thu, 10 Feb 2022 17:54:17 +0000

Coinbase (COIN) stock has struggled to gain traction since its IPO in mid-April 2021, at the peak of the cryptocurrency market rally. The US-based cryptocurrency exchange’s price has fallen over 37% since its initial public offering (IPO). Although it briefly returned to IPO price during the crypto price surge last November.

Coinbase offers investors the opportunity to familiarize themselves with the development of the cryptocurrency market without having to choose individual coins. The share price has so far largely followed the direction of bitcoin, the largest cryptocurrency.

Is Coinbase worth investing in? Can the stock rebound to the IPO price level?

In this article, we take a look at the latest news and developments from the company, as well as some of the latest analyst predictions for Coinbase shares.

Coinbase stock embarks on a downtrend

The highly anticipated Coinbase IPO was launched on April 16 last year, driving up the prices of cryptocurrencies, including bitcoin. Investors took the listing as an indication of the growing adoption of mainstream crypto. But the sharp rises – which saw the price of bitcoin reach a new high of $64,863.10 on April 14 – prompted a “sell the news” response.

Coinbase closed at $342 on April 16. It then quickly lost value, falling to $224.35 on May 21.

The stock price tried to rebound during the cryptocurrency price increases in July and September, but failed to hold on to the gains. The stock soared to $342.98 on November 12, after bitcoin hit a new all-time high of $68,530.34 on November 9. But bitcoin’s price crashed again, hitting a low of $34,349.25 on January 22, and COIN stock price fell to $177.58 on January 28. COIN has since gained more than 20%, closing at $214.50 per share on February 9.

With cryptocurrency prices showing signs of bottoming, trading activity on the Coinbase platform may resume. Coinbase had 73 million verified users and 7.4 million retail monthly transaction users (MTUs) in Q3 2021. Retail MTUs were down 1.4 million, or 16%, from Q2 , when cryptocurrency prices peaked and then crashed.

Institutional investor interest in cryptocurrency grew in 2021. Coinbase launched its Coinbase Prime offering for institutional users in the middle of the third quarter. Advanced trading, analytics, custody, and funding features have given institutions tools and services to gain exposure to cryptocurrency markets.

In October, Coinbase announced plans to launch a non-fungible token (NFT) marketplace, which took off in 2021 and is expected to continue growing with adoption in the gaming, art, and craft industries. sports collection. The marketplace will initially support Ethereum-based ERC-721 and ERC-1155 NFT standards and will add support for other blockchains in the future.

On January 18, Coinbase announced that it would be partnering with Mastercard to enable market users to pay for NFTs with their Mastercard debit or credit cards and “find ways to bring this opportunity to the broader ecosystem. broad thanks to Mastercard’s scale and global network”.

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Coinbase’s daily trading volumes in the fourth quarter, on average, topped the third quarter, according to analysis by investment bank Goldman Sachs (GS). Quarterly Coinbase app downloads suggest the company saw strong account growth in the fourth quarter. Coinbase accounts for around 7% of spot cryptocurrency trading volumes, behind Binance at 47% and OKEx and Huobi Global at 10% each.

The company is expected to announce its fourth quarter and full year 2021 results on February 24.

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So, are Coinbase shares a buy, hold, or sell for investors ahead of the earnings report?

Coinbase Share Price Prediction: Can the Share Price Recover in the Future?

At the time of writing (February 10), the 12-month average price target of 20 analysts who published the COIN stock price target is $373.72, ranging from a low of $220 to a maximum of $600, according to data from MarketBeat. The consensus rating on the stock is “buy”, with 15 “buy” recommendations, four “hold” and one “sell”.

On Jan. 25, Mizuho Financial Group cut its Coinbase stock projection from $300 to the lowest estimate of $220, slightly above the current level. On Jan. 26, Goldman Sachs reiterated its buy rating but cut its COIN stock forecast from $352 to $288.

“We are seeing a beat on the back of strong 4Q21 trading volumes. Several times during the quarter, we have seen significant volumes on the COIN platform at Shiba Inu, which we believe indicates strong volumes of retail transactions (given that institutions tend to store more established coins such as BTC and ETH) and therefore we believe the company’s forecasts at earnings time for higher take rates through trading activity retail sales should continue,” Goldman Sachs analysts wrote in an analysis of Coinbase shares on January 11. They expect the company to report a 62% increase in total crypto trading revenue. currencies compared to the third quarter.

“While stocks have stalled following the recent decline in crypto prices, activity levels remain elevated and we view the company’s strong profitability/cash flow as a differentiator in fintech given the recent sale of unprofitable technologies which should enable the company to outperform peers in the current market environment.

“Given the strong momentum in retail activity levels, the continued adoption of new products such as staking, and the potential for emerging revenue streams (derivatives, NFTs) in the coming year , we remain constructive on the story and continue to view COIN as the blue chip way to gain exposure to the crypto ecosystem.

Technical analysis from algorithm-based forecasting site Wallet Investor showed that with a pivot point of $213.273, there was technical support at $211.657 down to $207.197, with resistance at $216.117-$220.577 . Wallet Investor is bearish in its long-term forecast for Coinbase stock price, expecting the stock to drop to $172.152 by the end of 2022 and to $157.07 by the end of 2022. 2023, falling to $132.344 by the end of 2025 and $112.067 by January 2027. This indicates the stock could continue falling towards the $100 level by 2030.

It is important to keep in mind that cryptocurrency markets remain extremely volatile, which impacts Coinbase’s share price. As a result, algorithm-based analysts and forecasters can and do err in their predictions of COIN stock price.

We recommend that you always do your own research and consider the latest market trends, news, technical and fundamental analysis and expert opinion before making any investment decisions. Keep in mind that past performance does not guarantee future returns. And never invest more than you can afford to lose.

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The difference between trading assets and CFDs
The main difference between trading CFDs and trading assets, such as commodities and stocks, is that you do not own the underlying asset when trading a CFD.
You can always profit if the market moves in your favor or suffer a loss if it moves against you. However, with traditional trading, you enter into a contract to exchange legal ownership of individual stocks or commodities for cash, and you own them until you sell them again.
CFDs are leveraged products, which means that you only have to deposit a percentage of the total value of the CFD transaction to open a position. But with traditional trading, you buy the assets for the full amount. In the UK there is no stamp duty on CFD trading, but there is when you buy shares, for example.
CFDs attract overnight costs to hold trades (unless you are using 1-1 leverage), which makes them more suitable for short-term trading opportunities. Stocks and commodities are more normally bought and held longer. You might also pay a commission or brokerage fee when buying and selling assets directly and you would need a place to store them securely.

Capital Com is an execution-only service provider. The material provided on this website is provided for informational purposes only and should not be construed as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We make no representations or warranties as to the accuracy or completeness of the information provided on this page. If you rely on any information on this page, you do so entirely at your own risk.

Afraid to buy now, pay the next goal later

Joey J. Garrison — Tue, 08 Feb 2022 00:21:10 +0000

Alarms have been raised that vulnerable customers could fall further into a “debt spiral” as the sector moves towards a new group.

Buy now, pay later Pressure from suppliers to offer cash to Australian tenants could cause “big problems” for customers and further worsen debt problems, say consumer advocates.

Consumer groups have already sounded the alarm that users could face a “debt spiral” with new offers such as Afterpay moving into the pub sector.

There have also been concerns about the sector targeting a younger female audience, with the service having a strong presence in beauty, cosmetics and women’s fashion.

Today, new players are pushing the use of buy now, pay later for tenants, including Tenanting, which offers to “instantly” pay rent on behalf of an individual. The person must then pay it in four instalments, but with an additional 5% fee.

Consumer Action Law Center executive director Gerard Brody called the move “very irresponsible.”

“Rent is one of the essential costs that you have to pay every week, so going into debt to pay it is not a useful way to solve this cost, because you just have to pay it again the next fortnight. when refunds are due,” he told news.com.au.

“For people who have to rely on a loan if they find the cost of lease payments difficult, that’s not a solution and it doesn’t smooth out costs, but it will create more expense along the way.”

For someone paying $515 per week for a typical two-bedroom apartment in Greater Sydney, adding Tenanting’s 5% fee would result in a renter paying $25.75 more per week.

Another provider RentPay offers a service called SafetyNet where people can access a week’s rent, which can be paid off in four installments but incurs a $15 fee for each missed payment.

Mr Brody said it was “unfortunate” that the BNPL sector was unregulated, unlike other forms of consumer credit such as credit cards, personal loans and mortgages.

“This means providers don’t need to be licensed, don’t have to meet standards like responsible lending obligations that require them to assess that a loan is appropriate and that repayments won’t cause substantial difficulties,” he said.

“As a result, there is a huge gaping hole in the financial regulatory regime and the government needs to assess it as a matter of priority.”

More and more people are contacting the Consumer Action Law Center and financial advisers not only owing substantial amounts to BNPL suppliers, but also dealing with a host of other debts, such as credit card and home loans. salary, he added.

A big problem was that the BNPL service was being sold as a “frictionless, easy and convenient” means of payment rather than a loan and making it harder for people to manage money, he noted.

“So it becomes a bigger problem. I think what tends to happen is because these lenders aren’t bound by responsible lending laws, they don’t assess people’s complete financial situation, and they don’t necessarily know that they have other debts and may have difficulty with this particular product,” he added.

Financial Counseling Australia has urged the government to commission an independent review of these financial products and the lack of regulation, arguing that proper hardship procedures are not in place if people find themselves in difficulty.

RentPay also goes beyond offering cash for weekly rent and provides a loan for a person’s deposit, which earns no interest if repaid within 21 days.

But the company said The Guardian80% of customers did not repay it on time.

“We see ourselves as the tenant champion and believe renting should be better,” said Greg Bader, CEO of RentPay.

“A lot of things we build are aimed at making it easier to rent. I don’t think we’re taking advantage of loopholes or pushing people into a spiral of debt. I think the flexibility we provide in the product actually helps people manage their money better. »

He added that SafetyNet, which offered to pay rent, was also not designed to be used as an “everyday thing”.

A Tenanting spokesperson said the service provides tenants with a flexible payment option to pay rent as a better alternative to predatory payday lenders.

“We are decentralizing the rental system and putting control back in the hands of the Australian public,” they said.

But many tenants may not be aware that there is also government assistance.

Some state governments may provide bond loans to tenants struggling to find large, short-term lump sums without having to pay interest, while tenants in arrears may keep their homes if they pay in full. before an eviction date.