CNBC Pro: Nearing retirement? How to Allocate Your Portfolio Right Now, According to the Pros
Despite market volatility, asset managers say it’s important to stay invested if you’re nearing retirement.
But how should the funds be allocated, given unstable markets, a shorter investment horizon and the need for cash on hand for retirees?
CNBC Pro asks the experts for their opinion.
Pro subscribers can learn more here.
—Weizhen Tan
Sterling strengthens after policy reversals
The pound rose on Monday morning in Asia after further reversals of policy by the British government at the end of last week. The pound was last up 0.56% at $1.1233.
CNBC Pro: As market volatility persists, Wall Street analysts say sell these stocks
Stocks around the world have been battered this year and major indices remain deep in negative territory.
As investors debate whether to sell or stay invested, CNBC Pro reviewed nearly 1,500 large- and mid-cap global stocks and found a number of top companies with sell or underweight ratings.
CNBC Pro subscribers can learn more here.
—Ganesh Rao
China’s central bank leaves medium-term rates unchanged
The People’s Bank of China rolled over its loans under the Medium-Term Loan Facility (MLF) and kept its interest rate unchanged at 2.75%, according to a statement posted on its website.
The central bank announced it would keep the one-year rate unchanged for a second month and injected 500 billion yuan ($70 billion) through the MLF.
A Reuters poll predicted no change in the MLF rate and a partial renewal of central bank loans.
—Jihye Lee
CNBC Pro: Morgan Stanley’s Mike Wilson Flags Key Earnings Risk – and Names Stocks to Avoid
Morgan Stanley’s US equity team, led by Michelle Weaver and Mike Wilson, says there is a key risk to earnings on the horizon.
The investment bank named several stocks it believes will be hit the hardest over the next 3-6 months and could see their prices decline over the same period.
Pro subscribers can learn more here.
— Zavier Ong
European markets: here are the opening calls
European markets are heading for a lower open on Monday as investors watch for a deteriorating economic outlook.
Britain’s FTSE index is expected to open 31 points lower at 6,819, Germany’s DAX down 60 points at 12,377 and France’s CAC down 29 points at 5,902, according to IG data.
The lower opening in Europe comes in an increasingly pessimistic global climate; Asia-Pacific stocks fell on Monday as recession fears weighed on sentiment.
In the United States, meanwhile, stock futures traded higher early on Monday as investors awaited strong earnings reports from Bank of America on Monday, while Goldman Sachs will release the numbers on Tuesday morning. .
Last week, a higher-than-expected inflation reading fueled wild price swings in markets as investors readjusted their expectations for upcoming rate hikes from the US Federal Reserve.
On the data front in Europe, final inflation data for Italy in September is expected.
—Holly Ellyatt
