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Stock prices and workplace mobility trace out striking clockwise paths in daily data from mid-February to late May 2020. Global stock prices fell 30% from 17 February to 12 March, before mobility declined. Over the next 11 days, stocks fell another 10 percentage points as mobility dropped 40%. From 23 March to 9 April, stocks recovered half their losses and mobility fell further. From 9 April to late May, both stocks and mobility rose modestly. This dynamic plays out across the 35 countries in our sample, with notable departures in China, South Korea and Taiwan. The size of the global stock market crash in reaction to the pandemic is many times larger than a standard asset-pricing model implies. Looking more closely at the world's two largest economies, the pandemic had greater effects on stock market levels and volatilities in the USA than in China even before it became evident that early US containment efforts would flounder. Newspaper-based narrative evidence confirms the dominant--and historically unprecedented--role of pandemic-related developments in the stock market behavior of both countries. JEL Classification E32 * E44 * E65 * G12 * G18 * 118, 1 Introduction Stock markets around the world cratered after mid-February 2020, as the Coronavirus pandemic spread beyond China. Value-weighted prices dropped 40% from 17 February to 23 March in the [...]

Abstract I study the presence of order anticipation strategies by examining predictable patterns in large order trades. I construct three simple signals based on child-order execution patterns and find empirical [...]

Four executives from the investment industry discuss the opportunities that they see in the stock market. Their picks include stocks in the energy, technology, and health care industries.

Investment experts Fred Hickey, Mario Gabelli, Felix Zulauf, Oscar Schafer, Scott Black, Abby Joseph Cohen, Bill Gross, Archie MacAllaster, Meryl Witmer, Marc Faber give their view on the stock market and provide their stock picks. The panelists believe that stock prices have overshot corporate fundamentals and are due for a major bounce.

A survey of portfolio managers on investment stocks showed that 55% think believes that the market is fairly valued at current levels, while 22% consider stocks overvalued. Bullish investors expect the Dow Jones Industrial Average to end the year at 14,318 above its October 9 peak of 14,164. Results of the Big Money Poll are presented.

This article examines the relation between consensus buy/hold/sell recommendations for stocks and the financial characteristics of the rated companies. Brokerage house recommendations are interesting because recommendation changes occur frequently and [...]

Many pension funds, endowment funds, and other institutional investors are concerned that equities--typically their largest asset allocation--will have lower average returns over the next decade. In this environment, many investors [...]

Purpose--Taiwan OTC market is an electronic, order driven, call market. The purpose of this paper is to gain understanding of whether trade size or number of transaction provides more information on explaining price volatility and market liquidity in this market. The paper also aims to investigate how market condition can affect the relationship between information type and trading activities. Design/methodology/approach--The paper uses data from the Taiwan OTC market to run the empirical tests. It divides firms into five size groups based on their market capitalization. Regression equations are run to test: whether number of transactions has a more significant impact on price volatility on the Taiwan OTC market; the impact of market information on number of transactions; the relative impact of firm specific and market information on number of transactions; and the impact of number of transaction of bid-ask spread. Findings--Findings show that the larger the number of transactions, the higher the price volatility. Smaller firms on the Taiwan OTC market are traded based on firm-specific information. This relation is further affected by market trends. Especially for the larger firms, when the market is up and the amount of market information increases, number of transactions increases. When the market is down and the amount of market information increases, number of transactions decreases. Finally, it is found spread size is more likely to be influenced by number of transactions, instead of trade size. Overall, based on these empirical results, the information content of number of transactions seems to be higher than that of trade size in the Taiwan OTC market. Practical implications--Investors now understand that number of transaction actually carry more information than trade size does. Originality/value--The relation between market information and number of transaction, also that between market information and trade size is influenced by market condition. The paper fills a gap in the literature to show that market condition has an impact on the relation between information type and trader's behavior. A number of transactions are identified that provide more information than trade size does. It is also shown that market conditions can further affect the impact of information on trading activities. Keywords Securities markets, Stock prices, Financial markets, Taiwan Paper type Research paper

Purpose--The main purpose of this paper is to compute the appropriate margin level for the stock index futures traded on the Taiwan Futures Exchange (TAIFEX) and, then, to examine the appropriateness of the real margin requirement set by the TAIFEX. Design/methodology/approach--This paper develops a new approach assuming the future's prices follow a geometric Brownian motion process. Compared with the extreme value theory that has been intensively used to determine the appropriate futures margin levels, one of the advantages of the present model is no need to specify the frequency at which extremes are taken. Findings--The evidences indicate that the theoretical margins obtained by the proposed model can provide a more accurate and flexible margin level in accordance with the market volatility. Research limitations/implications--The main limitation of this approach is that the natural logarithm of the futures prices is assumed to follow a Brownian motion process. However, such an assumption might not be practical for financial returns. Practical implications--The research is helpful for the clearinghouse to set up its margins policy, especially under various conditions of volatility risks. Originality/value--This paper proposes a theoretical procedure to set an appropriate futures margin for the TAIFEX. This paper also provides a better understanding of Taiwan's futures market that is newly launched and is useful for investors to hedge and speculate. Keywords Futures markets, Stock markets Paper type Research paper

The stock market in the fourth quarter of 2004 opened with a disappointing performance in the third quarter due to geopolitical concerns, high oil pries and reduced earnings growth. David Kovacs, portfolio manager at Turner Investments reported that the quarter would open with cheaper valuation and low bond yields in the stock market and earnings might be negative.

The study focuses on stock markets in industrialized countries and their reaction towards shock. It briefly analyzes the impact of shocks on the stock market, the impact can be positive or negative.

The stock market's nine-month rally is maturing and defensive health-care sector stocks have climbed 7.6% and this could be seen as signs of broadening rally or a warning of leadership fatigue. Investment firm CEO Mark Phelps' stock picks include Yum! Brands, PepsiCo, Becton Dickson, and Procter & Gamble.

Stocks fell 3.9 percent for the week ending October 30, 2009 and the week starting November 2, 2009 will see three important economic news that will offer a more accurate gauge of the market's mood depending on how stocks react. The prospects of the shares of Dolby Laboratories, SRS Labs, and VF Corp. are also discussed.

Latin American stocks have outperformed other regional markets due to rising commodities prices and favorable economic climate. Countries such as Brazil, Mexico, Chile, and Peru provide investment opportunities, while Argentina and Venezuela are tougher places to invest.

The United States Federal Reserves Board has cut down interest rates to stabilize the economy. Despite the reports on increased jobs and third-quarter economic growth of 3.9%, economists predict a precipice of consumer recession. Data on U.S. industries ranked by weekly changes in securities are presented.

The U.S. stock market's correction in August 2007, which took place after indexes fell by 10%, is analyzed. A market correction is usually defined as a drop of 10% to 20% over a short period of time. The U.S. Federal Reserve Board's reduction in discount rates, which will bring in more liquidity into the financial system, is also discussed.

A panel of foreign stock fund managers offer opinions on international prospects for investments. The article also provides the top three companies selected by each manager as being particularly good investments.

Stocks rising up with indexes showing sturdy mount in new bull-market highs resulting in the healthy gains for the Dow Jones Industrial average climbed 203 to 11,279, Standard & Poor's 500 added 25 to reach 1307 and Nasdaq Composite rising 44 to 2306 is reported. It is an interesting outgrowth of a post-bear-market environment in which big companies have hoarded cash, restrained capital investment and generally operated in a mode suited for risk-averse bond investors and so investment banks and lawyers have set up special practice to defend companies.

An overview is presented on stock market performance, focusing on the difference between a stalled market and an idling market.

Byline: Alan KlineSynovus Financial Corporation's announcement Tuesday that it intends to issue new debt to pay off old debt has prompted one analyst to downgrade its stock.In a research note [...]

Byline: Maria Aspan After the U.S. downgrade spooked the stock market early this week, asset managers and brokerages rushed to reassure their customers. But their soothing emails and conference calls [...]

On market making and May 6 On May 6, there was no one who had enough liquidity to be buying from every seller. I don't think you can mandate someone [...]

The Banker's international financial centres (IFCs) rankings put Moscow in 36th place this year, down from last year's 30th. Does this mean that Moscow is an outsider with diminishing chances [...]

If, like me, you are an avid reader of economic and stockmarket bulletins or opinion pieces, you are in danger of being like the rabbit caught in the headlights, not [...]

A game of two halves is predicted for Brazilian equity, which started 2010 on shaky ground. New issuance is scheduled for the first half, but volatility will follow. by John [...]

In the past few months, the securities lending market has had to manage its largest counterparty default in its history, with the bankruptcy of Lehman Brothers, and in turn cope [...]

Time to Buy? David Leonhardt, in his weekly 'Economic Scene' column in The New York Times, questioned the wisdom of Warren Buffett and John Bogle. The famed investors have said [...]

Asian stockmarkets could take the lead in the future Asia will play an increasing economic role in the future, according Khiem Do, head of Asian Multi-Asset for Barings Asset Management. [...]

Most traders are filling their customers' orders in New York Stock Exchange-listed securities at the NYSE's opening price-not Nasdaq's. Since it began opening in NYSE stocks last July, Nasdaq OMX [...]

It has become increasingly apparent that the markets have entered a time characterised by a lack of liquidity and a lot of volatility. Marek Sanders looks at a fund that [...]

Bull Run? Has the bull market run its course? Not yet, according a consensus of strategists interviewed by Fortune. The six Wall Street sages said that even though a market [...]

The impact of American stock market patterns on Australian stock returns is evaluated.

The rumors of company acquisitions on websites and the reaction of stock markets to such rumors are evaluated.

On the face of it, it's perplexing that variations in the stock market should effect the overall economy. After all, on each side of a stock-market transaction is a buyer [...]

The relationship between research and development expenditure of a firm and its common stock risk in markets is investigated.

The common liquidity factors of stocks in American and Australian stock markets are evaluated by using stock performance valuation technique.