Market

PT Barito Renewables Energy shares plunged by the daily limit for a second day after FTSE Russell said it would exclude the company from its indexes.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/86b04e5894d5eda0ecdea375899f5e8e_f4536eed5d.webp" alt="86b04e5894d5eda0ecdea375899f5e8e.webp"></figure>The shares fell 20%, bringing losses since Thursday to nearly 36%. The index compiler said the Indonesian power company will be deleted from its gauges a day after the anticipated entry date, citing “high shareholder concentration.”Barito in a filing late Sunday said there has been no significant changes to its shareholders’ stakes since its October 2023 listing. Indonesia’s second-biggest company by market value had published its shareholding information, including that of its four stakeholders, to the bourse during its initial public offering, it said. The four shareholders held around 96% stake as of Sept. 19, compared with 97% stated in the company’s IPO prospectus.FTSE had planned to add the geothermal power producer to its Global All Cap Index series and associated gauges on Monday. The stock will be deleted starting Tuesday, according to FTSE’s statement last week.Barito surged more than 1,400% since its IPO to a record high reached earlier this month. The shares went on a wild ride earlier this year following its addition to a stock exchange watchlist for volatile and troubled companies.As much as 11.7% of its shares met the free float requirement as of Sept. 19, according to the statement, citing daily data from the Indonesia Central Securities Depository. “The company will continue to monitor compliance with the free float rules determined by the exchange,” Barito said.(Corrects to clarify details of shareholding and free float in third and sixth paragraphs, respectively)

PT Barito Renewables Energy shares plunged by the daily limit for a second day after FTSE Russell said it would exclude the company from its indexes.

World’s Most Volatile Big Stock Down 36% on FTSE Eject

The Federal Reserve's aggressive start of the easing cycle has rekindled inflation worries in the U.S. bond market, as some investors fear looser financial conditions could re-ignite price pressures.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/1_21468ce18c.webp" alt="1.webp"></figure>Yields on longer-dated Treasuries that are most sensitive to the inflation outlook have risen to the highest since early September, with some investors worried that the Fed's shift in focus from beating back inflation to protecting the job market could allow for a rebound in price pressures."I think there are questions around how quickly inflation will be able to get to the Fed's target if we're in a cutting environment, and if we're in an environment where the Fed is saying we want to support the labor market before the labor market gets weak," said Cayla Seder, macro multi-asset strategist at State Street Global Markets. She expects long-term yields, which rise when prices fall, to climb further as the market bets on stronger growth and inflation.Fed Chair Jerome Powell said last week the 50 basis point interest rate cut that kick-started the U.S. central bank's descent was a "recalibration" of rates aimed at maintaining strength in the labor market while inflation moves sustainably to the Fed's 2% goal.The Fed's emphasis on economic resilience fueled concerns that the path to lower rates could be slow and bumpy. Fed officials' forecasts on interest rates also suggested a more gradual pace in cuts than what the market anticipated.Expectations for inflation over the next decade as measured by Treasury Inflation-Protected Securities (TIPS) increased after the Fed's announcement on Wednesday, with the 10-year breakeven inflation rate rising to 2.16% on Thursday, its highest since early August. It hit a new high of 2.167% on Monday.An auction of 10-year TIPS on Thursday, after the Fed's rate-setting meeting, was lapped up by investors, with non-dealers absorbing 93.4% of the $17 billion Treasury debt sale, the highest share since January. Flows into U.S. dollar inflation-linked bonds, however, were negative in the week ending on Monday, according to LSEG data."Investors are once again concerned with the specter of reflation," BMO Capital Markets rates strategists said in a note last week. Matt Smith, fund manager at Ruffer, said he has been adding inflation protection to his portfolio over the last few days and weeks.Many in the market have fresh memories of the selloff that happened when a dovish pivot by the Fed in December was followed by months of upside surprises on inflation and employment.The Goldman Sachs U.S. financial conditions index, a measure of the availability of credit in the economy, eased over the course of this year despite interest rates remaining at their highest in over two decades. The day after the Fed's decision, it decreased to its lowest since May 2022."We think inflation is going to remain relatively benign ... but the more aggressive the Fed cuts, the more you have to question that," said Brendan Murphy, head of fixed income, North America, at Insight Investment.

The Federal Reserve's aggressive start of the easing cycle has rekindled inflation worries in the U.S. bond market, as some investors fear looser financial conditions could re-ignite price pressures.

Analysis-Fed's bumper rate cut revives 'reflation specter' in US bond market

Costco Wholesale shares edged lower in early Tuesday trading after a top Wall Street analyst clipped his rating on the bulk discount retailer heading into its fourth quarter earnings report later in the week.Costco &nbsp;(COST) , one of the top-performing stocks in the retail sector this year, has added around $160 billion in market value over the past twelve months as its focus on aggressive pricing in a limited number of items, as well as increased efficiency in its higher-margin online division, has consistently added to bottom line gains.<img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/1_02bb42b1dc.webp" alt="1.webp">The group also unveiled its first membership fee increase in more than seven years over the summer under new finance chief&nbsp;Gary Millerchip, taking the price of its executive card to $125 per year.D.A. Davidson analyst Michael Baker said at the time of the increase that the move will likely add around $377 million in total revenues of the next two years and generate an annual profit boost of around $189 million.However, other changes brought by the group over the summer, including the scanning of membership cards at store entry points, may blunt sales gains over the three months ending in August, while the stock's impressive gains have given it "little room for error" with respect to near-term performance, according to Truist Securities analyst&nbsp;Scot Ciccarelli.'Little room for error'"The business remains strong and is gaining share across nearly all trade classes, with arguably the highest barriers to entry in retail," he said.&nbsp; "However, recent changes like scanning IDs on entry and packaging adjustments to their chickens could create some sales headwinds."Ciccarelli lowered his rating on Costco stock to 'hold' from 'buy', while keeping his $873 price target in place ahead of the group's fourth quarter earnings, which are slated for after the close of trading Thursday."Key catalysts are now in the rearview mirror, and the stock's current valuation leaves little room for error," Ciccarelli said."Costco is up around 60% in the last 12 months (multiple up by roughly 20 turns) versus the S&amp;P's 30%, and it’s now trading at about 54x forward [earnings per share], a multi-decade high," he said. "Therefore, we downgrade Costco and will look for a more attractive re-entry point."

Costco Wholesale shares edged lower in early Tuesday trading after a top Wall Street analyst clipped his rating on the bulk discount retailer heading into its fourth quarter earnings report later in the week.

Analyst revisits Costco stock price target, rating, ahead of earnings

Zimbabwe’s stocks are on a tear as investors seek refuge from the new bullion-backed currency that’s at a record low against the US dollar.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/e197b1392e8d8e397eedb334e854addc_f1657d58a3.webp" alt="e197b1392e8d8e397eedb334e854addc.webp"></figure>The Zimbabwe Stock Exchange’s All Share Index, which trades exclusively in local currency, has risen 28% since Aug. 28, when the ZiG started consistently losing value against the dollar. The index has risen 160% since it was rebased to a 100 when the unit started trading on April 8.But instead of causing jubilation among equity traders, it has them worried. They see the surge as a return to the past and a reflection of deep-seated trouble in the currency markets.“The stock market has remained largely correlated to the parallel market and injections of ZiG liquidity,” said Lloyd Mlotshwa, the head of research at IH Securities, a Harare-based brokerage. “It’s the same song on repeat.”The ZiG, short for Zimbabwe Gold, which started trading at 13.56 at adoption now sells for 26 per dollar on the parallel market and 13.97 officially. It has lost value against the dollar for 17 straight trading days, its longest losing streak since its debut.You can follow Bloomberg’s reporting on Africa on WhatsApp. Sign up here.The southern African nation introduced ZiG, its sixth attempt at a functioning currency in 15 years, to build confidence in a local unit after its predecessor the Zimbabwean dollar lost more than 80% of its value against the US dollar this year. Its plunge caused investors to pile into stocks as a safe haven and hedge against surging inflation, leading to a more than fourfold increase in the stock market.The central bank has instituted various measures to support the ZiG including a crackdown on street traders and pumping $64 million so far this month into the market. The injection will “effectively mop-up significant liquidity in the market,” Governor John Mushayavanhu said in an emailed statement Thursday.Stocks favored by investors include Econet Wireless Ltd., the largest telecommunications company and Delta Corp Ltd., a beverages maker, said Mlotshwa. “ZiG flow is concentrated in those two names.”

Zimbabwe’s stocks are on a tear as investors seek refuge from the new bullion-backed currency that’s at a record low against the US dollar.

Traders See Trouble in Zimbabwe’s 28% Stock Surge and Weaker ZiG

The Federal Reserve's decision to opt for a bigger half-percentage-point cut opened a new area of disagreement between GOP nominee Donald Trump and Fed Chair Jerome Powell.What Trump said this week is that the cuts are a sign of one thing: a weak economy that he claims was brought on by the Biden/Harris administration."I guess it shows the economy is very bad to cut it by that much assuming that they are not just playing politics," Trump said at a Manhattan bitcoin bar Wednesday."One or the other," the GOP nominee added "but it was a big cut."Powell — who was elevated to Fed chair by then-President Trump but has found himself often at odds with him in recent years — offered an opposite analysis Wednesday afternoon."Our economy is strong overall," Powell told reporters, arguing the move to cut the Fed's benchmark rate by 50 basis points was instead a way to try to ensure "strength in the labor market can be maintained" alongside economic growth.Read more: The Fed rate cut: What it means for bank accounts, CDs, loans, and credit cardsPowell also tried to dampen concern that the large cut was a sign policymakers were behind the curve or overly concerned that a deeper downturn in the economy could be around the corner.President Biden also weighed in Wednesday afternoon to say the news represented an important milestone."Inflation and interest rates are falling while the economy remains strong," the president wrote as he sided with Powell on the question of the state of the economy.Vice President Kamala Harris added in her own statement the move is "welcome news for Americans who have borne the brunt of high prices [but] my focus is on the work ahead to keep bringing prices down."How this ends up impacting the 2024 campaign or economic growth remains to be seen.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/a1780eb0_75f2_11ef_b7ff_58ef49b6ff78_51e42f9b57.webp" alt="a1780eb0-75f2-11ef-b7ff-58ef49b6ff78.webp"></figure>It comes after a run-up to the crucial decision saw Powell in a stronger-than-expected position politically, seemingly poised to sidestep more severe political fallout for making a crucial Fed pivot just weeks before a presidential election.Powell was dinged from the left for waiting too long.“This cut in interest rates is yet another acknowledgement that Powell waited too long to reduce rates,” wrote Sen. Elizabeth Warren after the news, but she added that she was happy that lower rates are now in place.Warren, who previously this week advocated a 75 basis point cut, added Wednesday that “more rates cuts are needed.”<h2 style="text-align:justify;">A culmination of a year of Trump commentary on the Fed</h2>The commentary from Trump on monetary policy is just the latest in a year where Trump, as he did as president, has chosen to regularly weigh in on the Fed with criticisms of Powell.Trump raised eyebrows last month when he offered that the president should "have a say" in Fed decisions and that Powell has "gotten it wrong a lot."On Wednesday, Powell responded to Trump's comment by defending the historic independence of the central bank and expressing optimism that it would continue in the years ahead.Earlier this year, Trump's critiques of Powell were more directly political. He told Bloomberg in June that cuts are something "they know they shouldn't be doing." That came after a February Fox Business interview, when Trump said of cuts, "I think [Powell's] going to do something to probably help the Democrats."More recently, Trump has tended to focus less on the central bank. Weeks can go by without the GOP nominee mentioning the central bank publicly and the topic didn't even come up at last week's debate with Harris.Trump instead tends to discuss his energy plans when asked about interest rates, saying more drilling would help drive interest rates lower.Trump's plan if he wins, RNC spokesperson Anna Kelly told Yahoo Finance early this week, is to "declare a national energy emergency to quickly bring down mortgage and interest rates."<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/c0a7e9e0_75f2_11ef_ae76_af4337672f5c_3e3896e9e1.webp" alt="c0a7e9e0-75f2-11ef-ae76-af4337672f5c.webp"></figure>Trump's critique is one he's been telegraphing this week. "They'll do the rate cut and all the political stuff," Trump told a Michigan crowd Tuesday night before the news came in but with a cut widely expected. The underlying reason, he added, "is because the economy is not good, otherwise you wouldn't be able to do it."For his part, Powell again sought to downplay the role of politics, noting Wednesday afternoon that the economic effects of this week's move would be felt "for the most part with a lag" — presumably after polls close in November.Either way, he added, "Our job is to support the economy on behalf of the American people and if we get it right, this will benefit the American people significantly so this really concentrates the mind," he said.

The Federal Reserve's decision to opt for a bigger half-percentage-point cut opened a new area of disagreement between GOP nominee Donald Trump and Fed Chair Jerome Powell.

A big Fed rate cut gives Donald Trump and Jerome Powell something else to disagree about

The Federal Reserve is widely expected to cut interest rates for the first time in four years Wednesday and outline the path for future rate cuts.Investors have been hoping for a larger half-percentage-point cut versus a quarter-point cut. Traders, in recent days, have increased their wager that the central bank will cut by a deeper 50 basis points. Wednesday morning, Fed funds futures were pricing in a better than 60% chance the Fed cuts by 50 basis points, up from just 15% odds a week ago.“The Fed cutting by 50 basis points is a real possibility,” said Wilmer Stith, bond trader for Wilmington Trust, who just last week thought it was more likely the central bank could cut by 25 basis points. He’s on the fence, though, as to whether it actually happens.Ahead of the blackout period, which started Sept. 7, comments from Fed officials indicated they are more likely to trim their benchmark interest rate by a quarter percentage point. That would mean a new range of 5.0-5.25% from its 23-year high of 5.25% to 5.5% when their policy meeting concludes this afternoon.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/1_94d857c1b7.webp" alt="1.webp"></figure>Either way, the Fed’s actions will officially mark the termination of the most aggressive inflation-fighting campaign since the 1980s. The rate cut will mark the first in a series of cuts, with intense focus on the Fed’s new interest rate projections, known as the so-called dot plot, for how many rate cuts officials see for the remainder of this year and next.<h2 style="margin-left:0;">Rate debate</h2>JPMorgan chief economist Michael Feroli is one who believes the Fed needs to cut by a bigger amount.“What the Fed should do is clear: Recalibrate the policy rate 50 basis points lower to adjust for the shifting balance of risks,” said Feroli.As inflation has continued a slow downward descent, officials are turning more attention to the job market, which has weakened, with Fed Chair Jay Powell pledging to do everything to maintain a strong job market.Feroli sees a 50 basis point cut Wednesday, with guidance for two 25 basis point cuts at the last two meetings of the year.But former Kansas City Fed president Esther George expects a quarter-point cut with the potential for Powell to lay the groundwork for deeper cuts in subsequent meetings.Who's right? We'll see, of course. But it could take a lot to form a consensus around the FOMC table to vote unanimously for a 50 basis point cut.Some of the committee members, including Fed governor Michelle Bowman, Atlanta Fed president Raphael Bostic, and Philadelphia Fed president Patrick Harker, had indicated that starting with 25 basis points made sense and they weren’t alarmed by the cooling in the labor market.In contrast, in Jackson Hole in late August, Powell struck a dovish stance with comments that indicated he could be in favor of a 50 basis point cut, saying the Fed “will do everything we can to support a strong labor market as we make further progress toward price stability.” He noted that the Fed does not "seek or welcome further cooling in labor market conditions" and that the current level of the policy rate gives the Fed “ample room” to lower rates in response to any weakening in the job market.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/2_a377d98cbe.webp" alt="2.webp"></figure>In any case, Powell will have to explain the interest rate decision and projections in the press conference following the meeting. He'll either set expectations for deeper, more aggressive cuts or say the Fed is expected to take a measured, gradual approach and is prepared to take more aggressive action if warranted.Lots of changes to the language in the Fed’s policy statement are also expected to reflect the Fed’s decision to start a rate cutting cycle, including that officials have gained confidence inflation is falling sustainably to their 2% target, that officials are more focused on weakness in the labor market now, and that the timing and size of future cuts will depend on the data.In addition to their policy decision and interest rate projections, Fed officials will also release forecasts for unemployment, inflation, and the economic outlook. Fed Chair Powell will hold a press conference at 2:30 p.m. ET.

The Federal Reserve is widely expected to cut interest rates for the first time in four years Wednesday and outline the path for future rate cuts.

Fed officials set to cut rates for the first time in 4 years

The U.S. Secret Service said on Monday it was aware of a post by billionaire Elon Musk on the X social media platform musing about an absence of assassination attempts on President Joe Biden and Vice President Kamala Harris.Musk, who owns the platform, formerly known as Twitter, put up the post after a man suspected of planning to assassinate Republican former President Donald Trump at his golf course in West Palm Beach was arrested on Sunday.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/1_76f7a48b88.jpg" alt="1.jpg"></figure>A Trump supporter and the CEO of Tesla, Musk wrote on Sunday: "And no one is even trying to assassinate Biden/Kamala," a post he ended with an emoji of a face with a raised eyebrow.He was quickly criticized by X users from the left and right, who said they were concerned his words to nearly 200 million followers could incite violence against Biden and Harris.Musk deleted the post but the Secret Service, tasked with protecting current and former presidents, vice presidents and other notable officials, took notice."The Secret Service is aware of the social media post made by Elon Musk and as a matter of practice, we do not comment on matters involving protective intelligence," a spokesperson told Reuters in an email. "We can say, however, that the Secret Service investigates all threats related to our protectees."The spokesperson declined to specify whether the agency had reached out to Musk, who seemed to suggest in follow-up posts that he had been making a joke."Well, one lesson I've learned is that just because I say something to a group and they laugh doesn't mean it's going to be all that hilarious as a post on X," he wrote. "Turns out that jokes are WAY less funny if people don't know the context and the delivery is plain text."Harris, a Democrat running against Trump in the Nov. 5 presidential election, issued a statement on Sunday night as did Biden expressing relief and gratitude that Trump had not been harmed and condemning political violence.The White House criticized Musk for his post."Violence should only be condemned, never encouraged or joked about. This rhetoric is irresponsible," White House spokesperson Andrew Bates said on Monday. &nbsp;

The U.S. Secret Service said on Monday it was aware of a post by billionaire Elon Musk on the X social media platform musing about an absence of assassination attempts on President Joe Biden and Vice President Kamala Harris.

US Secret Service says it is aware of Musk post about Biden, Harris

Exchanges

The US Department of Justice (DOJ) filed an antitrust lawsuit against Visa, alleging that the payment giant has stifled competition through various anti-competitive practices. The development on Tuesday sent Visa's stock price plummeting, with shares closing down approximately 5.5 per cent for the day, Reuters reported. &nbsp;<figure class="image image_resized" style="width:100%;"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/AA_1r9_Nt_U_cd213a71d7.jfif" alt="AA1r9NtU.jfif"></figure>The DOJ's lawsuit claims that Visa, which processes over 60 per cent of debit transactions in the United States, has maintained its market dominance through questionable agreements with card issuers, merchants, and potential competitors. These practices, according to prosecutors, have allowed Visa to collect around $7 billion annually in fees from debit transactions routed through its network, the report added.In response to the allegations, Julie Rottenberg, Visa's general counsel, defended the company's practices, stating, "When businesses and consumers choose Visa, it is because of our secure and reliable network, world-class fraud protection, and the value we provide." She added that the claims are without merit and that Visa intends to contest them vigorously, Reuters reported.The lawsuit is part of a broader initiative by the Biden administration to address rising consumer prices, a key issue in the upcoming presidential election. Attorney General Merrick Garland emphasized the far-reaching impact of Visa's alleged conduct, saying, “Visa's unlawful conduct affects not just the price of one thing, but the price of nearly everything,” per the Reuters report.According to the DOJ, Visa's anti-competitive behaviour began around 2012, following reforms that required card issuers to accommodate unaffiliated networks. The lawsuit alleges that Visa entered into agreements with potential fintech competitors like Apple, PayPal, and Square (now Block Inc.) to prevent them from releasing products that could threaten Visa's market position, the report added.The legal action seeks to prohibit Visa from imposing pricing structures that discourage competition and paying rivals not to compete. The DOJ aims to restore competition in the debit payment processing market for online and in-store transactions.This lawsuit is the latest in a series of legal challenges faced by Visa and its rival Mastercard over their dominance in the payment card market. Both companies have been involved in litigation for nearly two decades and have already set aside substantial funds for potential settlements related to interchange fees.As the legal battle unfolds, the outcome of this antitrust lawsuit could have significant implications for the payment processing industry and potentially lead to changes in how debit transactions are handled in the United States.

The US Department of Justice (DOJ) filed an antitrust lawsuit against Visa, alleging that the payment giant has stifled competition through various anti-competitive practices. The development on Tuesday sent Visa's stock price plummeting, with shares closing down approximately 5.5 per cent for the day, Reuters reported.

Visa stock plunges as US Department of Justice files antitrust lawsuit alleging market dominance

Warning

In the ever-evolving financial market, choosing a reputable trading platform is more crucial than ever. Recently, InfoFinance received information from the St. Vincent and the Grenadines Financial Services Authority (FSA) about the trading platform Analystque, a name that is raising concerns but is not legally registered.<h2 style="text-align:justify;">Warnings from many financial organizations all around the world</h2><h3 style="text-align:justify;">Not Registered in St. Vincent and the Grenadines</h3>According to the announcement from the FSA, Analystque is not a licensed entity operating in St. Vincent and the Grenadines. Furthermore, the UK’s Financial Conduct Authority (FCA) has indicated that this platform is believed to be providing financial services in the UK without the necessary authorization. This situation poses significant risks for investors considering trading on this platform.<h3 style="text-align:justify;">Warning from IOSCO</h3>The information does not stop there. The International Organization of Securities Commissions (IOSCO) has also issued alerts against Analystque. This indicates that international financial regulatory bodies are closely monitoring the activities of this trading platform, and users need to exercise greater caution when engaging with it.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/infofinance_canh_bao_scam_0c81367fdd.jpg" alt="infofinance cảnh báo scam"><figcaption>Warning on <a href="https://svgfsa.com/warning-notice-analystque/">https://svgfsa.com/warning-notice-analystque/</a>&nbsp;</figcaption></figure><h2 style="text-align:justify;">Why Analystque is raising concern?</h2><h3 style="text-align:justify;">&nbsp;No Forex/Broker Licenses Issued</h3>A crucial point to note is that the FSA does not issue licenses for Forex or brokerage firms in this jurisdiction. The authority only ensures that business companies (BCs) comply with the regulations under the Business Companies (Amendment and Consolidation) Act. Therefore, if a company operates in the Forex or brokerage sector, it must obtain a license from the jurisdiction where its clients are located.<h3 style="text-align:justify;">Potentially Forged Documents</h3>The FSA also warns that any documents presented by Analystque, claiming to be registered or licensed, may be fraudulent. Investors should not trust these documents, as they can lead to unsafe transactions and significant risks.<h2 style="text-align:justify;">Safe Investment with InfoFinance</h2>InfoFinance advises all investors to exercise caution and take necessary steps to protect themselves from fraudulent activities. Before making any investment decisions, always verify the information about the trading platform and conduct thorough research into its legality.We also encourage you to visit the FCA and IOSCO websites to learn more about how to safeguard yourself in the financial sector.Choosing a reputable trading platform is vital to ensuring the safety of your assets. Analystque is not only unlicensed but has also been flagged by multiple financial regulatory authorities. Always remain vigilant and informed when making investment decisions!

Important Warning from InfoFinance Regarding Analystque


<ul><li>Stock market highs are expected to continue into 2025, according to Oppenheimer's Ari Wald.</li><li>In a note, Wald highlighted strong market breadth and healthy signs across various sectors.</li><li>Key sectors like industrials, financials, and technology look resilient, Wald said.</li></ul><figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/BB_1kbc_UL_25bd0eea6a.jfif" alt="BB1kbcUL.jfif"></figure>Record highs in the stock market are set to continue, as few signals suggest a top in equity prices is near.That's according to Oppenheimer managing director and technical analyst Ari Wald, who said in a note over the weekend that there are bullish "inflection points" in the underlying market."We continue to balance seasonal headwinds against our view that evidence of a major top is not compelling," Wald said.Wald said he is encouraged by the fact that the number of stocks on the New York Stock Exchange above their 200-day moving average is above 60%, which is a healthy sign for a market advance, as it shows that it's not just a handful of mega-cap tech companies driving the gains."We stress that market breadth remains constructive, and defensive leadership may represent a 'catch-up' into previous underperformers," Wald said.Wald said that based on the chart, traders can buy last week's breakout to new cycle highs in the S&amp;P 500, with a stop-loss set at the 5,650 level on a closing basis.A stop-loss is a risk management tool used by traders to automatically sell a security when a certain price is hit.For the S&amp;P 500, the 5,650 level represents potential downside of just 1%, while Wald's upside price target of 6,000 in the first half of 2025 represents potential upside of 5%.Wald's 6,000 price target for the S&amp;P 500 is based on the median bull market cycle."The S&amp;P 500 is up 64% over the 23 months between October 2022 and September 2024. Since 1932, the median bull cycle has gained 73% over a 32-month period," Wald said.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/BB_1m_H2ar_62ad2b62ac.jfif" alt="BB1mH2ar.jfif"></figure>Meanwhile, the average bull market cycle gain is 102% over a 34-month period.And if the current bull market follows the path of the average bull market, stocks could continue to rise through the end of 2025 with the S&amp;P 500 rising to around the 7,000 level.That 7,000 target aligns with a bullish prediction from Evercore ISI, which said in June that the AI craze could push stocks higher in 2025.Beneath the surface of the broad market, Wald said he is encouraged by the "right" leadership making new highs, including the Industrials sector."We view the cycle high for Industrials as confirmation of an intact bull market," Wall said.Record highs in the financials sector is another positive sign for the broader stock market, while the technology sector could be gearing up for its next big move higher, according to Wald.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/AA_1r3fur_0b47a01199.jfif" alt="AA1r3fur.jfif"></figure>"Technology is coming off an all-time high on both an absolute and relative basis in July. While the sector's relative trend has moderated, we still believe Technology represents one of the strongest long-term structures in the market," Wald said.Finally, Wald highlighted the healthcare sector as another area of the market that is showing resilience, even as it lags other sectors.While the healthcare sector is breaking out to new all-time highs, on a relative basis it is falling to new multi-year lows compared to the S&amp;P 500."We think the divergence between Health Care's absolute and relative trend speaks to the broadness of market breadth — even lagging sectors are rallying," Wald said.Similar scenarios are playing out in the communication services and materials sectors, according to the note.

Stock market highs are expected to continue into 2025, according to Oppenheimer's Ari Wald.

Why stocks have a lot more room to rally before hitting a peak, according to a technical analyst

Recently, InfoFinance has received numerous complaints from investors regarding fraudulent activities and scams associated with MHMarkets Vietnam. Despite promises of attractive returns and claims of being a reputable international trading platform, the reality tells a different story. Many accounts have been "wiped out" in a short period without any satisfactory explanation from the broker. In light of this situation, InfoFinance has issued an official warning, advising investors to be cautious and avoid MHMarkets to mitigate the risk of financial loss.<h1 style="text-align:justify;">Nearly 200 Million VND Vanishes from an MHMarkets Vietnam Account</h1>A victim, who wishes to remain anonymous for personal safety, shared their bitter experience with InfoFinance after being defrauded by MHMarkets Vietnam. The victim recounted being persuaded by an old classmate to invest in the Forex market through MHMarkets. The investment offer was enticing, promising extraordinarily high returns – the capital was expected to double in just 1.5 months. Trusting these promises and promotional claims that MHMarkets was a reputable international broker, the victim deposited nearly 200 million VND into a trading account.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/Thiet_ke_chua_co_ten_dcd568f0ba.png" alt="Thiết kế chưa có tên.png"></figure>Initially, MHMarkets executed trades with a profit-sharing model of 30% to the victim and 70% to the broker. However, within less than a month, the entire balance in the victim’s account mysteriously disappeared. Upon realizing this, the victim contacted the broker for an explanation and attempted to recover the lost funds, but all efforts proved futile. Currently, the victim is seeking assistance from authorities and the investment community, hoping to recover the lost money. This case serves as a harsh lesson for the individual and a warning to other investors about the hidden risks of engaging with unclear trading platforms.<h1 style="text-align:justify;">InfoFinance’s Warning: Be Wary of MHMarkets and Other Scam Tactics</h1>InfoFinance advises investors to be particularly cautious when dealing with brokers of dubious origins and credibility, such as MHMarkets. Experience has shown that engaging with unlicensed or non-transparent platforms can lead to significant risks, including total loss of assets. To safeguard their interests, investors should thoroughly verify the legality and reputation of a platform before making any investment decisions.InfoFinance emphasizes that no legal Forex or Broker licenses have ever been issued in St. Vincent and the Grenadines, a common registration location for many fraudulent brokers. This is a clear red flag regarding the transparency and trustworthiness of MHMarkets and similar trading platforms.<h1 style="text-align:justify;">How to File a Complaint Against Brokers on InfoFinance</h1>To help investors protect their rights, InfoFinance offers a transparent and straightforward process for reporting fraudulent brokers. Investors can file complaints through the following steps:<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/Screenshot_2024_09_23_at_23_55_26_bfe52f48dd.png" alt="Screenshot 2024-09-23 at 23.55.26.png"></figure><ol><li>Visit the official InfoFinance website at infofinance.com.</li><li>Select the "Report Broker" section on the homepage.</li><li>Click "Send Report" to initiate the complaint process about any issues encountered.</li></ol>Each complaint is handled by InfoFinance’s senior experts, who closely monitor and assess the situation. The experts will conduct direct inspections of the broker’s business registrations and evaluate their transparency. With a strict and legally grounded process, InfoFinance is committed to delivering justice for investors and ensuring market transparency.

Recently, InfoFinance has received numerous complaints from investors regarding fraudulent activities and scams associated with MHMarkets Vietnam. Despite promises of attractive returns and claims of being a reputable international trading platform, the reality tells a different story. Many accounts have been "wiped out" in a short period without any satisfactory explanation from the broker. In light of this situation, InfoFinance has issued an official warning, advising investors to be cautious and avoid MHMarkets to mitigate the risk of financial loss.

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