On Tuesday, Shares of Bank of America Corporation (NYSE:BAC), gained 0.65% to $17.13.
Global investors have raised their holdings of cash significantly in response to a weaker global economic outlook, particularly in China, according to the BofA Merrill Lynch Fund Manager Survey for July. Overall, equity allocations are unaffected by the higher risk aversion, however.
- Confidence in the global economy falls sharply: 42 percent of investors expect strengthening over next year, down from 55 percent a month ago.
- China heads concerns: net 62 percent expect economy to weaken in next 12 months; eight out of 10 see GDP below 6 percent by 2018.
- Cash levels soar to highest level since 2008 crisis – 5.5 percent of portfolios; gold judged undervalued for first time in five years.
- Raised pessimism on China led further weakness in assets linked to China: Commodity allocation drops to six-month low, and Global Emerging Market equities stays as most unloved region with allocations at 16-month low.
- Bonds still seen as much more overvalued than equities and more at risk of volatility-driven crash; equity overweights rise to net 42 percent.
- S. dollar bullishness strengthens despite postponing of predictable U.S. rate rise to Q4 2015 or later, replacing June consensus of Q3.
- Appetite to overweight European stocks rises, although potential eurozone breakdown now biggest “tail risk.”
Bank of America Corporation is a bank holding company. The company, through its auxiliaries, operates through Consumer and Business Banking; Consumer Real Estate Services; Global Wealth and Investment Administration; Global Banking; Global Markets; and Other segments.
Shares of The Walt Disney Company (NYSE:DIS), declined -0.17% to $117.85, during its last trading session.
Star Wars creator George Lucas, composer Danny Elfman, All My Children star Susan Lucci, Disney Animator Andreas Deja and other beloved contributors to the Disney legacy will be named and honored as official Disney Legends during D23 EXPO 2015 at 10 a.m. on Friday, August 14, in Hall D23 at the Anaheim Convention Center. The ceremony will be hosted by Disney Chairman and CEO Bob Iger, and will comprise special musical performances.
The Disney Legends Awards program is a 28-year tradition of The Walt Disney Company, and the first Disney Legend was Fred MacMurray (The Shaggy Dog, The Absent-Minded Professor, The Happiest Millionaire), who was honored in 1987. The three-day EXPO provides the opportunity for Disney fans to be a part of the memorable and prestigious event.
The Walt Disney Company, together with its auxiliaries, operates as an entertainment company worldwide. The company operates in five segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products, and Interactive.
Finally, Sabre Corporation (NASDAQ:SABR), ended its last trade with 0.31% gain, and closed at $25.88.
Sabre Corporation, is launching a beta test of a new hotel digital marketing program from Google designed to assist drive more bookings. The Google Hotel Ads Commission Program combines the benefits and reach of Google Hotel Ads with the hotels’ existing commission programs by making the hotels’ best accessible retail rates searchable and bookable on Google.
When travelers search for a hotel on Google Search, Google Maps or Google+, they will be able to select the property and rate they want, and then book the room directly with the hotel without ever leaving the page, reducing the abandonment rate commonly seen when consumers have to switch sites to complete a transaction.
Sabre Corporation provides technology solutions to the travel and tourism industry worldwide. It operates in two segments: Travel Network, and Airline and Hospitality Solutions.
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