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Global crash: what happened to the markets?

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Tech stocks lead US markets

It’s been a rough 24 hours for global stocks, which have finally declined on the news of rising coronavirus cases around the world, with Europe experiencing their worst session of the year

What’s happening around the world?

In New York, the Dow Jones Industrial Average tumbled more than 2%….major indexes in France and Germany also fell.

London fell 2.6% to below the 7,000 level, led by broadcaster ITV and British Airways-owner

In England, most remaining Covid restrictions have now been lifted.

However, new cases are continuing to rise in some countries fuelled by the Delta variant…

Two of Australia’s largest cities Sydney and Melbourne are still in lcokdown, while South Australia has also imposed tough new restrictions overnight.

So investors have finally started to pay attention and react to the Delta variant spread

James Whelan from VFS Group says its the correction that needed to happen, and it’s just a minor blip.

Christopher Uhl from 10 minute Trading says “we were due for a pull back”

https://twitter.com/tickerNEWSco/status/1417254892528353282

“We finally got the pull back that we were calling for for the last couple of weeks. The market is well overdue with the S&P500 at one point up over 16% on the year,” Uhl told ticker.

The S&P closed near session lows with a 2 per cent selloff.

“There’s a good chance we will see a bounce this week as we saw the exact same thing happen almost a month to the day where the S&P dropped 1.7% on June 18 then rocketed up 5.5% over the next three weeks. As far as technicals go, this is a dangerous position for the market, if we don’t get a reversal tomorrow, there’s a chance that there’s a lot further this could drop.”

Big Markets spill

Big market spill, oil spilt a lot more after OPEC increases production.

This has more of a feel of beginning of Covid’s effect on markets in March 2020. A lot is being attributed to delta variant, but this is not new news over the weekend.

Oil biggest fall since March, Europe worst equity move of 2021. 

Oil now has certainty for its reduced cuts, but we were near 2 year highs, and again markets just don’t know what the delta variant will do to global demand . 

F45 already down 15 per cent from IPO price based on Covid fears after commencing trading on Thursday last week

Robinhood IPO announced, value will be close to $40Bn. Now all that needs to happen is a collaboration between them, Peleton and F45 and tradercise will be the next big thing.

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Money

Boeing CEO to depart with lucrative exit package despite chaos

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Boeing CEO Dave Calhoun is set to step down from his position at the end of the year, walking away with a substantial payout despite challenges faced during his tenure.

Here are the key points:

  • Massive Payout: Despite Boeing’s stock price plummeting by 43% since Calhoun took over as CEO in 2020, he is poised to receive a $24 million payment upon his departure.

  • Additional Compensation: Calhoun holds options that could potentially earn him an additional $45.5 million if his successor manages to boost Boeing’s share price by 37%.

  • Comparative Compensation: Calhoun’s compensation during his tenure exceeds that of CEOs in similar industries, despite Boeing’s stock underperforming in comparison.

Boeing CEO Dave Calhoun’s impending departure at the end of the year has sparked controversy as he stands to walk away with a substantial payout, despite the company’s tumultuous journey under his leadership.

READ MORE: Boeing CEO to step down

Despite inheriting a company reeling from the aftermath of two deadly 737 Max crashes, Calhoun’s tenure has been marred by further setbacks, including the recent Alaska Airlines door blowout incident that further tarnished Boeing’s reputation.

Boeing offers CEO $5.3 million incentive to stay through recovery …

With Boeing’s stock price plummeting by 43% during Calhoun’s time at the helm, questions arise about the correlation between executive compensation and company performance, especially in the face of such significant challenges.

‘Raised eyebrows’

Calhoun’s lucrative exit package, valued at $24 million, has raised eyebrows among shareholders and industry observers alike.

Additionally, the potential for Calhoun to earn an additional $45.5 million based on the future performance of Boeing’s shares has intensified scrutiny over executive compensation practices.

This sizable payout contrasts starkly with Boeing’s stock performance, which has significantly underperformed compared to both industry peers and broader market indices, highlighting the dissonance between executive rewards and shareholder value creation.

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Money

It’s been a record year for CEO compensation

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In 2023, Broadcom’s CEO Hock Tan was granted a stock award worth $161 million, propelling him into the realm of highest-paid CEOs.

However, as the company’s share price surged, the value of Tan’s award skyrocketed to approximately $1.3 billion, outpacing even the shareholders’ annual returns.

Tan’s compensation reflects a broader trend among top executives in the tech sector, where awards of restricted stock and stock options surged in value alongside company share prices.

Notably, CEOs like Charles Robbins of Cisco Systems and Shantanu Narayen of Adobe also saw substantial increases in their compensation, doubling in some cases.

The disclosure of such equity growth in executive compensation is a new requirement by the Securities and Exchange Commission (SEC), providing shareholders with insights into the changing value of executives’ awards throughout the year.

CEO pay is on the rise.

New heights

Overall, CEO pay at major S&P 500 companies reached new heights in 2023, rebounding from slower growth in the previous year. The median pay for these CEOs rose to $15.6 million, up from $14.1 million in 2022, reflecting a surge in equity awards.

Broadcom clarified that Tan’s stock award is designed to span five years, with no plans for additional equity grants or cash bonuses during that period.

Tan’s compensation, which amounts to approximately $33 million annually over five years, is contingent upon his continued tenure and specific share price targets.

While the initial valuation of Tan’s restricted shares stood at $160.5 million, the surge in Broadcom’s share price prompted the company to reassess the likelihood of meeting vesting conditions.

This reassessment suggests that Tan may not receive all the shares initially granted.

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Money

Market forecast: weather whirlwinds influencing investments

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Prime conditions for commodity investments arise from global weather shifts, geological tensions, and rising interest rates.

With global weather patterns causing disruptions in traditional supply chains, coupled with geopolitical tensions over natural resource access, and the anticipation of higher interest rates impacting financial markets, the conditions for commodity investments have reached exceptional levels.

Amidst this backdrop, Farrer Capital has emerged as a standout player, leveraging its unique ‘blue ocean’ approach to capitalize on price dislocations and scarce competition in the market.

Mark Wyld from MW Wealth joins the show to share his insights on the inclement weather impacting the market.

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