| February 07, 2023 | | | | | Jeff Bergstrom
Editor
John Lothian News | |
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| | | | Lead Stories | | | Wall Street Brokers Are Netting Big Profits in Retail-Options Boom
Eva Szalay - Bloomberg
With the meme-stock army in retreat and crypto fervor cooling, the booming marketplace for stock options proved a lucrative substitute for US retail brokers last year.
Now the explosion in short-term derivatives trading is showing no signs of easing, a boon for major online brokers as they gear up to report earnings.
/jlne.ws/3YuquLG
Powell's speech triggered record options bets, topping even the meme stock frenzy
Patti Domm - CNBC
A speculative frenzy after Fed Chairman Jerome Powell spoke last week helped drive record trading in call options Thursday, and there could be more Powell-related options action Tuesday as investors await his midday speech.
But the record volume in call options on stocks last week may also be the sign of a medium-term peak in speculative behavior, according to Julian Emanuel, head of equity, derivatives and quantitative research at Evercore ISI.
/jlne.ws/3lkCxNc
Adani Group Share Clues Can Be Seen in Surging Options Market
Akshay Chinchalkar - Bloomberg
Adani Enterprises Ltd. led gains in the group's stocks on Tuesday, stemming losses from a rout over the past two weeks as technical indicators and option bets supported a rebound.
The flagship company of embattled Gautam Adani rallied as much as 25% on reports the founders had prepaid nearly $1.1 billion of loans. The gains helped trim the slump in the group's market capitalization to $112 billion since US-based Hindenburg Research released a report on Jan. 24 alleging market manipulation and accounting fraud â claims Adani has repeatedly denied.
/jlne.ws/3X7hwTC
ION brings clients back online after ransomware attack - source
Harry Robertson - Reuters
ION, the financial trading services group hit by a ransomware attack last week, started to bring clients back on to its cleared derivatives platform overnight, a person familiar with the matter told Reuters on Tuesday.
Hacking group Lockbit claimed responsibility for an attack on a section of ION last week, which disrupted customers that include some of the world's biggest banks, brokerages and hedge funds.
/jlne.ws/3JLEZXv
The stock market is a 'drunken psycho.' Why this hedge-fund manager is shorting some of the market's biggest stocks.
Barbara Kollmeyer - MarketWatch
Stocks are struggling for traction ahead of a few words from Fed Chair Jerome Powell, who will make his appearance this afternoon, just days after moonshot jobs data.
That's as more big investors flag signs of mania, with the S&P 500's SPX, -0.22% new year gains bringing the index to 4,111, above half of Wall Street's year-end 2023 forecasts.
/jlne.ws/40PX251
What Are the Biggest Market Risks? Executives Weigh In
Sonali Basak - Bloomberg
The global economy and financial markets are at a crossroads.
After a year of grappling with rampant inflation that spurred central banks to embark on their most aggressive tightening campaign in decades, some investors are starting to see the possibility of a soft landing that avoids a brutal recession. But policymakers warn that they haven't yet finished the job, and that prematurely declaring victory would only cause more pain down the line.
/jlne.ws/3YvIG7F
India Stock Market: Adani Shares Rout Pauses as Investors Await Raft of Earnings
Ishika Mookerjee and Abhishek Vishnoi - Bloomberg
Adani Enterprises Ltd. surged, leading gains as most of the Indian conglomerate's stocks rose after its founders pre-paid some debt and traders covered short positions.
The flagship's shares rallied as much as 25% before finishing up nearly 15% in Mumbai on Tuesday. That helped trim the slide in the group's market capitalization to $115 billion since US-based Hindenburg Research released a report on Jan. 24 alleging market manipulation and accounting fraud â claims that Adani has repeatedly denied.
/jlne.ws/3Yx24kF
The Short Seller Costing the Adani Group Billions
WSJ (Audio)
Gautam Adani is ubiquitous in India. His energy and infrastructure conglomerate, the Adani Group, touches the lives of millions of Indians on a daily basis. But last month, Hindenburg Research, a U.S. short seller, alleged that the company was engaged in wide-ranging fraud. WSJ's Shan Li explains a fallout that has cost Adani billions.
/jlne.ws/3li74vk
The S&P 500 could nosedive 30% this year as a painful recession takes hold, top economist David Rosenberg says
Theron Mohamed - Business Insider
Investors can weather the approaching storm by betting on gold, bonds, and tried-and-tested companies, he told MarketWatch in a recent interview. But they should avoid cryptocurrencies, the veteran economist and president of Rosenberg Research said.
/jlne.ws/3JT6D4L
Improvement in farmer sentiment carries over into 2023
CME Group
Following a sharp increase to close out 2022, the Purdue University/CME Group Ag Economy Barometer had only a modest increase in January, up 4 points to a reading of 130. The rise in sentiment was primarily attributable to better expectations for the future as the Future Expectations Index improved by 5 points to 127. The Index of Current Conditions rose only 1 point to a reading of 136. The Ag Economy Barometer is calculated each month from 400 U.S. agricultural producers' responses to a telephone survey. This month's survey was conducted from January 16-20.
/jlne.ws/40wCtdD
| | | | | | Exchanges | | | Miami International Holdings Reports Trading Results for January 2023; Multiple Volume and Market Share Records Set in Month with Additional Records Reached on February 2, 2023
MIAX
Miami International Holdings, Inc. today reported January trading results for its U.S. exchange subsidiaries - MIAX , MIAX Pearl and MIAX Emerald (together, the MIAX Exchange Group), and Minneapolis Grain Exchange (MGEXâ¢). In addition to multiple record multi-listed volume and market share records in January 2023, the MIAX Exchange Group reported a daily record multi-listed market share and volume total on February 2, 2023, accounting for 17.57% of volume and 11.4 million contracts traded. Daily volume records were also reported on MIAX Options and MIAX Pearl Options, with total multi-listed volume of 4.8 million and 4.4 million contracts, respectfully.
/jlne.ws/3HI39PL
SwapsInfo Full Year 2022 and the Fourth Quarter of 2022 Review
International Swaps and Derivatives Association
The latest ISDA SwapsInfo Quarterly Review shows that trading volume for interest rate derivatives (IRD) and credit derivatives increased in 2022 compared to the previous year.
/jlne.ws/40yMIOs
| | | | | | Strategy | | | Fed Speak Today
Cboe (Video)
Tim Biggam @Delta_Desk runs through market action - $VIX #options, $SPX #straddle - as traders look for clarity from Jerome Powell on interest rates and the Fed's economic outlook. #Vol411
/jlne.ws/3lkGpy5
Wary of What's Ahead With the Fed, China and 0 Days to Expiration Options
Peter Tchir - TheStreet
The S&P 500 is hovering right around 4,120, where it closed after the Federal Open Market Committee (FOMC) meeting last Wednesday (returning all of Thursday's rally). The Nasdaq 100 is still above but has struggled since then.
Before anything, let's remember that some big tech companies, among them Microsoft (MSFT) , Apple (AAPL) and Alphabet (GOOGL) , all pointed to some weakness last week. That information, which I think is crucial, has been lost in the shuffle but is something we should be thinking about.
/jlne.ws/3jMeczv
| | | | | | Miscellaneous | | | Super Bowl Is Poised to Become Most Bet-Upon Game in US History
Brad Stone - Bloomberg
A year ago, a Bloomberg Businessweek cover story heralded the "first Super Bowl of the online betting era." Apps like DraftKings and FanDuel would let people in more than two-dozen states gamble "on a nacho platter of options" - not just who would win the game but on ephemera like who would catch the first completed pass, who would commit the first turnover and the precise length of the National Anthem performance. (Winning bet: one minute and 50 seconds.)
/jlne.ws/3HIdYlb
****** More companies offering betting in more jurisdictions. Online betting during the game. Lots of advertising of online betting. It all adds up to one big betting orgy.~JJL
An artificial intelligence announcement sends an obscure staff-recruitment stock on a wild ride
Phil Rosen - Business Insider
The company, which facilitates headcount strategies for organizations in the US and UK, announced a new deal with ActivateStaff to expand its AI capabilities.
Staffing 360 CEO Brendan Flood noted the company's Headway unit has competed in "markets centered around flexibility and transparency through the use of artificial intelligence."
/jlne.ws/3lndBog
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| | | Jeff Bergstrom
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