Day: September 8, 2020

Don’t bet against the U.S. market, it’s likely going higher, BlackRock’s Rieder says

By Saqib Iqbal Ahmed

NEW YORK (Reuters) – The U.S. stock market’s two-day tech-led fall last week has revived investor worries about a spiral of selling that could crash the broader market, but Rick Rieder, head of the BlackRock Global Allocation team, does not see stocks going off a cliff.

Indeed, the $23.2 billion BlackRock Global Allocation Fund <MALOX.O> that Rieder runs currently has options trades that would benefit from a rebound in stocks.

Last week’s pullback in U.S. stocks from record highs came after investors piled into big tech names such as Apple – particularly buying bullish call options.

As Banarasi saris quality falls, govt finds a Chinese connection; plans to cut silk imports

While there is no blanket ban on Chinese imports, the center has been discouraging the same for sometime now in the midst of the pandemic as anti-China sentiment has also strengthened.

Amid rising border tensions with the Dragon country, India may have found a new weapon in its arsenal after banning various Chinese apps including popular mobile game PUBG. The central government is mulling on attacking Chinese silk imports after officials from the textile ministry informed a standing committee on labour that the quality of banarasi silk saris in general was depleting due to cheap imports from China, The Indian

Microsoft reveals Xbox Series S, a $299 console with next-generation performance packed inside smaller package

Microsoft says it is looking to share more information about the Xbox Series S soon.

Microsoft has come out and confirmed the existence of its “second” upcoming console hours after it leaked online in all its glory. Although Microsoft is not sharing any concrete details just yet, it is making four important announcements today. To begin with, the console will be called the Xbox Series S. It will be priced at $299 (roughly Rs 22,000) and it will offer next-generation performance packed inside a smaller package – Microsoft is going so far as to call the Xbox Series S its