Latest news with #StoneX
Yahoo
4 days ago
- Business
- Yahoo
Corn and Soybeans Head for Weekly Losses as US Weather Stays Wet
(Bloomberg) -- Crop futures were on track for a weekly decline as weather outlooks called for more rain in the US Midwest, boosting yield prospects at a time when investors were already bearish. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom Trump Administration Sues NYC Over Sanctuary City Policy A slow-moving cold front in the region Friday helped to bring cooler temperatures, according to the US Department of Agriculture's daily outlook. 'Heavy showers and thunderstorms along the front are maintaining favorable moisture supplies for corn and soybeans in the central Corn Belt,' the agency said. Heat earlier this week was linked to 'corn sweat,' when plants release moisture in the atmosphere that contribute to humidity. Over half the crop is throwing threads of silk as part of the yield-determining pollination process, while corn's national ratings of 74% 'good or excellent' are the best for this time of year since 2016. The favorable weather is keeping some investors on the sidelines, with light trading volumes on the Chicago exchange. 'Limited volume tells us that the market is comfortable with the current situation,' said StoneX risk management consultant Matt Campbell, adding that supplies are adequate and there's no need to change prices. Still, some buyers were taking advantage — the USDA reported daily export sales of both corn and soybeans to Mexico. In other markets, MIAX spring wheat futures were little changed one day after an annual crop tour found yield potential below USDA's estimate in North Dakota, the biggest grower. Burning Man Is Burning Through Cash Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Elon Musk's Empire Is Creaking Under the Strain of Elon Musk A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P. Sign in to access your portfolio
Business Insider
4 days ago
- Business
- Business Insider
Top strategist Vincent Deluard predicts a summer slump in stocks — but says 'recessions have been canceled'
The record-breaking stock market will tumble before September, but a recession effectively is "canceled," a leading strategist told Business Insider. "I expect US stocks to experience a sharp but brief correction in the summer," Vincent Deluard, the director of global macro strategy at StoneX, a financial services network, told BI in an interview. In a recent note, Deluard raised the prospect of a "brutal but brief" sell-off in late July or early August. He based the call on Donald Trump's tariff-negotiation period ending on August 1 and potentially spooking markets; the likelihood of further interest-rate cuts being delayed because of accelerating inflation and a tightening labor market; and the narrow breadth of the latest market rally, he said, adding that narrow rallies often lead to a correction within a month. He added in his note that foreign investors were anxious about "Trump's antics" with tariffs, the deficit, and their exposure to the US economy. He predicted selloffs would be short-lived as overseas buyers can't resist Big Tech stocks given their dominant market positions and central roles in the AI revolution. Deluard told BI he expects "several steep corrections" in stocks over the next two years due to "erratic policymaking, pressure from rising long-term bond yields, and selling from foreign investors." 'Recessions have been canceled' The macro specialist told BI there was a risk of a "brief stagflationary slowdown," but he ruled out a prolonged downturn as "recessions have been canceled by the shift to intangible assets, permanent stimulus, and demographics." Deluard spelled out his thinking in a note in May. He highlighted that the US economy has spent just 1% of the past 16 years in recession, down from around 40% of each decade between the 1860s and 1930s. He added that the main changes were a transition from an industrial economy to a less volatile services one, big rises in government spending on healthcare and social support programs for an ageing population that have acted as a "permanent economic stimulus," and policymakers adopting a "whatever it takes" approach to avoiding recessions. Deluard told BI that the Federal Reserve might have to raise its inflation target from 2% to as much as 4%, because officials will realize they can't aim lower in an era of sustained deficit spending. He said that that would be "quite positive" for stocks, as it would support higher corporate earnings and lower interest rates. Deluard, an adjunct professor of finance at Saint Mary's College of California, told BI the housing market would likely remain weak due to "poor affordability, growing supply, and high and sticky mortgage rates." He suggested house prices would "cool down but not crater" over the next two years, buoyed by higher construction costs, rising incomes, and low unemployment.
CNBC
4 days ago
- Business
- CNBC
Lightning Round: I'm all in on CoreWeave, says Jim Cramer
'Mad Money' host Jim Cramer weighs in on stocks including: Shutterstock, Energy Transfer, StoneX and Nebius Group.
Time of India
6 days ago
- Business
- Time of India
This $120-billion financial services company says it needs tech to win business
AI- Representative Image In April of last year, StoneX employees in Bengaluru moved out of a cramped WeWork setup and into a purpose-built office that seats 830 people. The transition summed up a six-year journey for the $120-billion global financial services giant that describes itself as 'one of the biggest names no one's heard of.' The company's chief operating officer Stuart Davison, on a recent trip to India, told us that when the firm established an Indian global capability centre (GCC) in 2019, it fielded barely a dozen engineers testing a payments idea; today Davison calls the twin hubs in Bengaluru and Pune 'one of the engines of innovation powering the whole group'. StoneX's experience mirrors a broader industry trend where technology and financial services have become intricately intertwined. 'For me, I don't even consider them separate services. It's very symbiotic,' Davison says. 'If you want to be a leader in financial services, you need to be tech driven.' This philosophy has driven StoneX's aggressive expansion in India. The crown jewel of the innovation drive in India is Xpay, a proprietary payments platform developed primarily by teams in Pune and Bengaluru over many years. Previous systems from outside vendors struggled during highvolume trading days, Davison says, creating artificial ceilings on business capacity. 'That's not a ceiling we want to have on our business.' Since its February launch, Xpay has processed over $50 billion in transactions, mostly from high-value institutional, corporate, banking, and NGO clients. The technological imperative inherent in the financial services sector has driven StoneX to build comprehensive engineering capabilities across its India centres. Beyond payments technology, the facilities now house teams working on financial crime prevention, cybersecurity, derivatives trading support, and core IT infrastructure. The Pune office operates with a 90 per cent technology focus, drawing talent predominantly from regional banking institutions to develop and maintain these critical systems. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Quote Undo Cybersecurity operations out of India are particularly big. StoneX's India teams monitor thousands of daily phishing attempts and operate a security operations centre that protects the company's global infrastructure. Organic evolution Rather than following a predetermined expansion plan, StoneX has allowed different business units to discover how Indian talent could address their specific challenges. This organic evolution has created a unique multi-functional hub that supports diverse aspects of StoneX's global operations. Teams in India, Davison says, now assist with derivatives trading, bullion operations, securities trading, compliance, legal support, and a variety of development projects. We started off (StoneX's India operations) with a payments division as a proof of concept in 2019. That went really well, and then we started with other functions, now we do everything from derivatives trading, securities trading, bullion operations, and so on. The good thing is that because our centres here have been open for six years now, people are starting to have real institutional knowledge of our company. And we're just at the cusp where we think we're going to start to have global leaders based out of the India offices as well. Stuart Davison | Chief operating officer STONEX The expansion, he says, reflects a structural change in finance rather than simple labour arbitrage. 'Ten years ago you won business on price; today you win it on technology,' he says. Clients accustomed to one-click experiences on their phones will not tolerate clunky interfaces or three-hour settlement windows. StoneX therefore hires engineers first and financiers second, confident that market mechanics are easier to teach than clean code. With every employee – including executives – working in open-plan seating, newcomers absorb conversations from trading, compliance and cyber security, completing a steep learning curve in months rather than years. The feedback loop now runs both ways. Indian colleagues possess enough institutional memory to lead global projects, and StoneX intends to base whole product lines in the country. The first on-shore revenue unit – a gold-trading desk that builds on the firm's status as the world's largest non-bank bullion broker – is pencilled in once regulators approve. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Recorder
22-07-2025
- Business
- Business Recorder
Zinc prices hit four-month peak
LONDON: Zinc prices rose to four-month highs on Monday as worries about tightness on the London Metal Exchange surfaced after data showed more than half of stocks in its approved warehouses had been marked to leave the system. Benchmark zinc on the LME traded 0.7% higher at $2,838 a metric ton in official rings, having earlier touched $2,876 a ton, the highest since March 28. Overall stocks of zinc in LME warehouses stand at 118,225 tons. Cancelled warrants or metal earmarked for delivery at 50% suggest another 59,900 tons waiting to be loaded out. But traders say there are doubts about whether much of that zinc will leave LME warehouses as it is mostly stored in Singapore and much of the metal there is in so-called rent sharing deals. Rent deals are profitable agreements under which LME-registered warehouses share fees or rental income with companies that deliver metal to them. 'It remains unclear if this latest volatile move in stocks is being driven by pure physical demand or as part of market players benefiting from rent deals,' said Natalie Scott-Gray, senior metals analyst at StoneX. 'If we do not see a similar quantity of material come back onto the exchange in the next three to four weeks, we can assume that this latest order is to fulfil, at least in part, physical consumption requirements in Europe.' Also in focus are large holdings of zinc warrants - title documents conferring ownership. Further cancellations would add to tightness which has created a premium for the LME cash contract over the three-month forward. Providing a boost for zinc, used to galvanise steel, was China's announcement that construction had begun on what will be the world's largest hydropower dam, on the eastern rim of the Tibetan Plateau, at an estimated cost of at least $170 billion, traders said. Overall, industrial metals were supported by top consumer China's plans to stabilise growth in the machinery, autos and electrical equipment sectors. Copper rose 0.6% to $9,843, aluminium gained 0.5% to $2,644, lead slipped 0.3% to $2,003, tin was up 0.9% at $33,750 and nickel climbed 1.4% to $15,430 a ton.
