Latest news with #MarkHackett
BBC News
3 days ago
- Business
- BBC News
Mount Gould Hospital revamp to meet needs of ageing population
A Plymouth hospital will be redeveloped to meet the growing demand for rehabilitation and mental health services in the region, it has been Hospitals Plymouth NHS Trust and Livewell Southwest said the changes at Mount Gould Hospital were important as the population gets means wards for general rehabilitation at Mount Gould will be merged and wards for stroke rehabilitation and male mental health rehabilitation changes were expected to reduce pressure on Derriford Hospital, with about 1,000 outpatient appointments a year at the new centre, said health chiefs. The aim of the revamp supports a shift toward home-based recovery, addresses shortages in stroke and mental health beds, and prepares for a 20% rise in the ageing population over the next decade, said the Hackett, interim chief executive of University Hospitals Plymouth, and Michelle Thomas, chief executive of Livewell Southwest, said in a joint statement: "This is an opportunity to make Mount Gould a major community hub and provide specialist care closer to home."The first phase of the transformation was set to begin later this year.
Yahoo
23-05-2025
- Business
- Yahoo
Everyday investors keep making Wall Street pros look dumb with this one simple move
When stocks plunged in early April after the announcement of President Donald Trump's tariffs, Noah Hackett knew what to do. The 19-year-old student at West Chester University, a public college in Pennsylvania, bought the dip. Hackett purchased $500 worth of exchange-traded funds that tracked the U.S. stock market, placing his trades on April 7 and April 8 through Robinhood, the trading platform that has been fueled by young and inexperienced investors. A friend at school also rushed to buy stocks, ignoring the apocalyptic messaging blaring in the news media. The two college kids had experienced similar warnings in March 2020 when COVID-19 upended global markets and the economy. The episode had stuck with them. My ex-wife said she should have been compensated for working part time during our marriage. Do I owe her? Morgan Stanley turns bullish on U.S. stocks. Here's why it says the market lows have already been made. Stocks tally worst session in a month as weak bond-market auction has investors wondering how U.S. will manage its debt Surge in Treasury yields points to U.S. debt concerns as Trump's tax bill advances. Investors want this fix. My husband and I spend more money on our daughter and her family than on my single son. Do we compensate him? 'I wasn't too afraid of the long-term tariff impact,' Hackett said. 'I always just thought it would bounce back pretty quickly.' Two days after Hackett finished buying the dip, his father appeared on CNBC and sounded a more cautious tone. The chief market strategist at insurance giant Nationwide, Mark Hackett said the market was acting strangely and he expected more volatility with stocks rising and falling. 'It is still a very emotional market,' Mark Hackett said. 'When we look forward, we still don't think we are going to be off to the races here. I think we are probably going to get some choppiness before you have a sustained recovery.' Mark Hackett's view reflected the sentiment among Wall Street professionals that Trump could drive more uncertainty in the stock market. The way he saw it, stocks were completely at the whim of Trump and any indication that Trump might walk back some of the aggressive tariffs he had unveiled could spark a powerful turnaround. But Mark Hackett also thought that the longer some of the tariffs remained in place, the worse the situation in the financial markets would likely become. It was a difficult environment for any investor to navigate and he just didn't know which way things were going to break. Still, he supported his son's decision to buy the dip, given his youth and risk tolerance. 'I was on board, but I wanted it to be his call,' Mark Hackett told MarketWatch. The nation's Noah Hacketts, everyday investors known on Wall Street as 'retail' traders, rapidly propelled the stock market higher and within weeks stocks erased all the losses associated with Trump's early April tariff announcement. It was one of the most stunning comebacks in Wall Street's history. After a 15-year stretch where stock-market losses have often been short-lived, buying the dip has become like a reflex for entire generations of amateur investors. Many professionals on Wall Street feared that Trump's tariff agenda might finally put an end to all of that. But while big Wall Street institutional investors fled stocks in April, an army of amateur investors stepped up to buy the dip with both hands. Data from JPMorgan Chase & Co. JPM showed that April was one of the most aggressive months of buying by the retail cohort in recent memory. Since April 8, a team of analysts at JPMorgan estimated that individual investors had bought $50 billion in stocks. At times, they accounted for roughly a third of daily trading volume. It was retail investors, with an assist from corporations buying back their own shares, that helped power the stock-market rebound. They have been swiftly rewarded for their temerity. Data shared with MarketWatch by discount-brokerage operator Public found that customers who bought, and held, stocks or ETFs after Trump's 'liberation day' were sitting on gains of roughly 12%, accumulated in just over one month. Those returns largely eluded their professional peers. A wealth of data published by Wall Street trading desks over the past few weeks has shown that institutional investors and hedge funds were net sellers of stocks. Then they sat out the early stages of the rebound as many expected the impact of Trump's tariffs would be quickly felt in the economic data. HFR's asset-weighted index of hedge-fund returns showed a marginal loss for April. This week, on the first trading day after Moody's became the last major credit agency to downgrade U.S. government debt, stocks dropped in morning trading, but by the end of the session they had climbed higher and made gains for the day. Yet again, retail traders had bought the dip and purchased $4.1 billion of stocks by midday, according to JPMorgan, the biggest intraday retail inflow ever recorded. 'Why yesterday's U.S. downgrade sell-off could not last one day,' wrote Jim Bianco, president of Wall Street research firm Bianco Research, on social-media platform X, in response to the JPMorgan data. 'The bigger issue is, retail is now the dominant force in equities. Of lesser importance is what the 'whales' (hedge funds and other institutions) are doing.' Eric Sanchez, a 51-year-old manager at a beverage company based in Connecticut, had a feeling that investors were overreacting to Trump's 'liberation-day' tariff announcement. So starting on April 4, he bought hundreds of shares of chip behemoth Nvidia NVDA. A couple of weeks later, as the market recovered, Sanchez started buying shares of Palantir Technologies Inc. PLTR as well. 'Everybody was panic-selling because of tariffs, but tariffs could come and go,' Sanchez told MarketWatch. 'I was ready to deal with it for a couple of months or even longer. It was like getting a good product on a discount — it was a no-brainer.' Sanchez was also motivated, in part, by the fear of missing out, or FOMO. He told MarketWatch that he regretted not buying shares of Big Tech heavyweights like Inc. AMZN and Microsoft Corp. MSFT during the aftermath of the dot-com-bubble implosion decades ago. Eric Anderson, 35, who works with Sanchez, started buying the dip even before 'liberation day.' As the market drifted lower in March, he scooped up shares of and Microsoft as the Big Tech 'Magnificent Seven' stocks got beaten up in the wake of the DeepSeek surprise. 'When we got those big drops in the Mag Seven, I felt like that was an opportunity to add to those names,' Anderson said during an interview with MarketWatch. When the market began to recover after Trump's April 9 decision to pause some of the levies, Anderson shifted to buying shares of Nvidia and Strategy Inc. MSTR, the company formerly known as Microstrategy that owns more than 570,000 bitcoins BTCUSD, a haul worth more than $60 billion at current prices, according to information available on Strategy's website. When markets turn rocky, Anderson said he likes to ask himself a simple question: Is he confident the stock he's looking to buy will be trading higher within five years? If the answer is 'yes,' he hits the buy button. 'I try not to invest money that I'm going to need over the next five to 10 years. It's money I plan on leaving in the market for an extended period of time,' he said. The everyday investors buying the dip have confounded some of the most prominent names on Wall Street. At his bank's annual investor meeting on Monday, JPMorgan Chase CEO Jamie Dimon said consumers have yet to feel the full effects of Trump's tariffs and that markets are reflecting an 'extraordinary amount of complacency' given risks associated with inflation, stagflation and geopolitical developments. Some of the biggest billionaire hedge-fund traders on Wall Street have recently expressed cautious views on U.S. stocks. Just last week, Steve Cohen, who runs Point 72 Asset Management, said stocks could retest their April lows and put the odds of an economic recession at 45%. Paul Tudor Jones, the famed macro trader, has also said he expects stocks could fall to their April lows. Although buying in while share prices are in freefall may seem like a risky move, it can sometimes be the opposite, said Chris Galipeau, senior market strategist at Franklin Templeton. 'Most people forget this. When stock prices come down, so does the risk in owning them,' Galipeau told MarketWatch. He pointed out that stocks often trade based on their price-to-earnings ratios. When the price drops and earnings stay the same, it could reflect an opportunity to buy stocks at a better value. Steve Quirk, the chief brokerage officer at Robinhood HOOD, said that it's important for investors to learn from each market downturn so they make better decisions the next time volatility hits stocks. 'I'm thinking of it through the lens of Robinhood customers, who are younger and haven't been through many things like this. They were too young for Brexit or the financial crisis,' Quirk told MarketWatch. 'You actually need to see some of these. It gives you good experience in how to deal with the next one.' In recent years, the steady retail–driven rebounds in any stock pullback has inspired a fair amount of soul-searching among professional money managers, said Mark Hackett. For years, hedge funds were known on Wall Street as the 'smart money.' Now, 'dumb money' retail traders are beating them at their own game. 'We as an industry are so arrogant, we think we know everything. But right now the retail investor is acting in a disciplined way, and it's the institutional investors who are acting emotionally. It's the reverse of history,' Mark Hackett told MarketWatch, recalling his experience working for Wall Street investment firms. 'I spent 15 years on the buy side. When you're in an investment meeting, and you see a 10% day and you're on the sidelines — let me tell you, it's a bad meeting.' This investor banks on Munger's advice to ride out volatility in markets and Tesla Bond 'vigilantes' are sending warnings globally. What does that mean for your portfolio? 'What we found horrified us': My elderly relative mistook charity envelopes for overdue bills — and gave thousands to other family members A 5-star fund manager is capitalizing on Trump's global market shake-up. Here's how. My father's widow keeps sending me $200 checks in the mail. Why would she do this? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
15-05-2025
- Business
- Time of India
Asian markets open in red: Nikkei fell 400 points, Shanghai down 0.15%
Asian stocks opened in red on Thursday as investors held back, awaiting new progress in trade negotiations . US partners are working to secure deals to sidestep Donald Trump's tariff threats, while oil prices continued to fall amid growing hopes of a breakthrough on the Iran nuclear deal. The stocks fell for the first time in five days, dragged down by fading enthusiasm over US-China trade talks , which prompted investors to look for a more cautious stance. Shanghai slipped 15.34 points, or 0.45%, to trade at 3,388.6. Hong Kong's Hang Seng edged down 12.91 points, or 0.05%, to 23,627.74. Japan's Nikkei took the sharpest hit, dropping 443.49 points, or 1.16%, to 37,684.64. South Korea's Kospi was also in the red, falling 4.34 points, or 0.16%, to 2,636.23 as of 8:00 am IST. US futures also dipped slightly, following a muted session on Wall Street where the S&P 500 added just 0.1% and the Nasdaq 100 rose 0.5%, boosted by gains in tech giant Nvidia. While Wall Street saw mixed but mostly positive trading, with the S&P 500 and Nasdaq finishing higher, though the Dow slipped, Asian markets largely moved in the opposite direction, giving up recent gains. The pullback reflects growing concern that the recent rally in global markets, fuelled by optimism around trade negotiations and signs of economic resilience, may have gone too far, too fast. 'As trade tensions ease, investors are pivoting back to fundamentals, but they may not like what they see,' Mark Hackett, chief of investment research at Nationwide, told Bloomberg. 'The market has raced from oversold to overbought in record time. That limits near-term upside unless we see a clear re-acceleration in growth.' China had earlier announced it would suspend export restrictions on rare earths and other military-linked goods for 90 days, following a temporary tariff truce with the United States. The move offered some reassurance to investors, alongside a UK trade pact and recent deals in the Gulf region. Currency markets saw modest movements, with the South Korean won and Japanese yen both strengthening. Traders kept a close watch on the win after reports emerged of recent discussions between the US and South Korea on currency policy. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
15-05-2025
- Business
- Economic Times
Asian equities decline, snapping four-day rally
Live Events Interest-Rate Bets (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Stocks in Asia fell on Thursday for the first time in five sessions as the rally on Wall Street sparked by US-China trade talks showed signs of and Australian stocks edged lower, while a gauge of US-listed Chinese companies climbed 1.2% on Wednesday. Tencent Holdings Ltd.'s revenue grew at its fastest pace in more than three futures were slightly lower after the S&P 500 rose 0.1%, while the Nasdaq 100 gained 0.5%, helped along by an advance for Nvidia Corp that wiped 2025 losses for the index of the dollar rose Wednesday, reversing selling pressure earlier in the session as Bloomberg News reported the US is not working to include currency policy pledges in trade accords. Gold steadied on Thursday after falling 2.3% to a one-month low in its previous session. Oil fell for a second day after a government report showed US crude inventories rose the most in two moves reflected a note of caution to a week marked by a sharp rebound in risk assets fueled by progress in trade talks and economic resilience. The nascent US-China trade truce, a UK pact and high-profile Gulf deals have reassured investors, yet lurking in the background is the worry that stocks get so extended that they're vulnerable to surprises.'As trade tensions ease, investors are pivoting back to fundamentals, but they may not like what they see,' said Mark Hackett at Nationwide. 'The market has raced from oversold to overbought in record time. That limits near-term upside unless we see a clear re-acceleration in growth.'In further signs of thawing trade tensions, China on Wednesday suspended curbs on exports of rare earths and other goods and technologies for military use. The move follows an agreement by the Asian nation and the US to temporarily lower tariffs levied against each other's products and will last for 90 days, China's Ministry of Commerce said in a traders will be watching for further moves in the won after a report that the US and South Korean governments discussed currency policies this month. The won jumped more than 1% and neighboring currencies, including the Japanese yen, also set for release in the region includes trade for India and Indonesia, money supply for South Korea, and employment for in US government debt across the curve sent the 10-year yield seven basis points higher to around 4.54%, around the highest in a month, as Federal Reserve rate-cut bets Bank of Chicago President Austan Goolsbee said that it's important for central bankers not to respond to day-to-day volatility in equities and economic policy pronouncements, noting that economic data remain steady for now. Fed Vice Chair Philip Jefferson said tariffs and related uncertainty could slow growth and boost inflation this year, but monetary policy is well positioned to respond as needed.'Fed vice chair Jefferson's speech today leans a little dovish after a run of more hawkish commentary from Fed officials, signaling that the Fed leadership is (sensibly) wary of calling the all-clear on downside risk even after US-China de-escalation,' said Krishna Guha at modest advance for US stocks on Wednesday covered up a broadly down day for most sectors. Big tech was the key exception, alongside a mix of individual names. Boeing Co. rallied on its largest-ever deal after Qatar Airways placed an order for long-range jets during a visit to Doha by Donald Rick Gardner at RGA Investments, the stock-market rally has legs.'The trade negotiation with China was seemingly the toughest one on the docket, and the idea that there has been this much progress on the negotiations over such a short period of time, suggests that a resolution may be on the horizon,' he said.
Time of India
15-05-2025
- Business
- Time of India
Asian equities decline, snapping four-day rally
Stocks in Asia fell on Thursday for the first time in five sessions as the rally on Wall Street sparked by US-China trade talks showed signs of exhaustion. Japanese and Australian stocks edged lower, while a gauge of US-listed Chinese companies climbed 1.2% on Wednesday. Tencent Holdings Ltd.'s revenue grew at its fastest pace in more than three years. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. US futures were slightly lower after the S&P 500 rose 0.1%, while the Nasdaq 100 gained 0.5%, helped along by an advance for Nvidia Corp that wiped 2025 losses for the chipmaker. An index of the dollar rose Wednesday, reversing selling pressure earlier in the session as Bloomberg News reported the US is not working to include currency policy pledges in trade accords. Gold steadied on Thursday after falling 2.3% to a one-month low in its previous session. Oil fell for a second day after a government report showed US crude inventories rose the most in two months. Live Events The moves reflected a note of caution to a week marked by a sharp rebound in risk assets fueled by progress in trade talks and economic resilience. The nascent US-China trade truce, a UK pact and high-profile Gulf deals have reassured investors, yet lurking in the background is the worry that stocks get so extended that they're vulnerable to surprises. 'As trade tensions ease, investors are pivoting back to fundamentals, but they may not like what they see,' said Mark Hackett at Nationwide. 'The market has raced from oversold to overbought in record time. That limits near-term upside unless we see a clear re-acceleration in growth.' In further signs of thawing trade tensions, China on Wednesday suspended curbs on exports of rare earths and other goods and technologies for military use. The move follows an agreement by the Asian nation and the US to temporarily lower tariffs levied against each other's products and will last for 90 days, China's Ministry of Commerce said in a statement. Elsewhere, traders will be watching for further moves in the won after a report that the US and South Korean governments discussed currency policies this month. The won jumped more than 1% and neighboring currencies, including the Japanese yen, also rose. Data set for release in the region includes trade for India and Indonesia, money supply for South Korea, and employment for Australia. Interest-Rate Bets Selling in US government debt across the curve sent the 10-year yield seven basis points higher to around 4.54%, around the highest in a month, as Federal Reserve rate-cut bets receded. Fed Bank of Chicago President Austan Goolsbee said that it's important for central bankers not to respond to day-to-day volatility in equities and economic policy pronouncements, noting that economic data remain steady for now. Fed Vice Chair Philip Jefferson said tariffs and related uncertainty could slow growth and boost inflation this year, but monetary policy is well positioned to respond as needed. 'Fed vice chair Jefferson's speech today leans a little dovish after a run of more hawkish commentary from Fed officials, signaling that the Fed leadership is (sensibly) wary of calling the all-clear on downside risk even after US-China de-escalation,' said Krishna Guha at Evercore. The modest advance for US stocks on Wednesday covered up a broadly down day for most sectors. Big tech was the key exception, alongside a mix of individual names. Boeing Co. rallied on its largest-ever deal after Qatar Airways placed an order for long-range jets during a visit to Doha by Donald Trump. To Rick Gardner at RGA Investments, the stock-market rally has legs. 'The trade negotiation with China was seemingly the toughest one on the docket, and the idea that there has been this much progress on the negotiations over such a short period of time, suggests that a resolution may be on the horizon,' he said.
