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Wall Street Today | US share buybacks hit record but capex lags pre-crisis level

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Moomoo Recap US wrote a column · Dec 21, 2021 18:08
Wall Street Today | US share buybacks hit record but capex lags pre-crisis level
Stock rebound may continue in Asia; bonds decline
A global rebound in stocks may continue in Asia on Wednesday as investor sentiment improves after being roiled by uncertainty over the omicron virus strain and stimulus outlook.
Futures for Japan and Hong Kong rose, while Australian shares edged up. U.S. contracts fluctuated after the $S&P 500 Index(.SPX.US)$ snapped three days of declines and the technology-heavy $NASDAQ 100 Index(.NDX.US)$ climbed more than 2%. A gauge of Chinese shares traded in the U.S. surged about 7%.
Turkey markets rocked anew amid stock slump, record lira swings
Gyrations in Turkey's stocks and the lira signal volatility is here to stay, even after the government laid out emergency measures to bolster the currency.
The Borsa Istanbul 100 Index's 7.9% decline on Tuesday triggered yet another circuit breaker, as it headed for the biggest three-day loss in more than two decades. The currency whipsawed between gains and losses, after soaring as much as 20% against the U.S. dollar, sending both three-month and one-year volatility to all-time peaks.
Tuesday's market bounce could lead to a record 2022, Oppenheimer's top strategist says
Despite Covid-19 omicron risks, Oppenheimer Asset Management's John Stoltzfus suggests Tuesday's market bounce is real.
"We believe in it. We think investors should as well," the firm's chief investment strategist told CNBC,"The selling that we've seen over the last few days was overdone. Fundamentals are getting better going forward. Stocks are responding to that fact."
Crypto funds explode in boom year marked by first U.S. bitcoin ETF
Even beyond the launch of the first U.S. Bitcoin futures ETF, cryptocurrency funds notched some notable global milestones in 2021.
The number of crypto-tracking investment vehicles worldwide more than doubled to 80 from just 35 at the end of 2020, according to Bloomberg Intelligence data. Assets soared to $63 billion, compared to $24 billion at the start of the year.
Musk tweet fund adminstrator isn't filing statements, judge says
A judge is questioning the status of a $40 million fund that was established from fines paid by Elon Musk and $Tesla(TSLA.US)$ over controversial tweets.
The firm appointed in May to administer distributions from the fund, set up by the U.S. SEC for harmed investors, hasn' filed required accounting statements, U.S. District Judge Alison Nathan said in an order Tuesday. She directed Rust Consulting to submit a status report by Jan. 7.
U.S. share buybacks hit record while capex lags pre-crisis level
Share repurchases more than doubled from a year earlier for S&P 500 companies to an all-time high of $234.6 billion, according to data released Tuesday from S&P Dow Jones Indices. Meanwhile, capital expenditures increased 21% to $189 billion, which is still down 3% from the final three months of 2019 before the pandemic shutdown the economy.
Part of the reason could be related to the pandemic, as a shift in consumer demand has fueled lots of uncertainty for businesses and makes it difficult for companies to plan ahead.
Super-luxury home sales surge across U.S., rising 35% in 2021
In 2021, at least 40 residential properties sold for more than $50 million in the U.S., according to data compiled by the appraiser Miller Samuel. Fueled by a booming stock market, low interest rates, and a pandemic-era's heightened emphasis on home life, prices for luxury houses have risen to stratospheric heights across the country.
UK offers 1 billion pounds to firms hit hardest by Omicron
Britain has announced £1 billion of extra support for businesses hit hardest by the wave of Omicron variant coronavirus cases. Finance minister Rishi Sunak said he would "respond proportionately and appropriately" if further Covid restrictions are imposed.
Under the support announced on Tuesday, hospitality and leisure firms in England will be eligible for grants of up to 6,000 pounds for each of their premises, accounting for almost 700 million pounds of the new package.
Source: Bloomberg, CNBC
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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