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Stay informed with the latest news from the trading market, using MTE Media’s investment insight tool, completely free of charge. Use it together with the Economic Calendar and get an overview of what has happened in the markets and what might impact your favourite assets next.

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European Daily Market Review
2021-12-07 09:34UTC
European stock markets advanced as the market reacted to new developments relating to the omicron Covid variant.The German DAX inclined 1.93%, the French CAC-40 added 1.95% and the British FTSE-100 gained 1.13%.The pan-European Stoxx-600 secured 1.4% in early trade, with tech stocks leading the rising path 3%.The German industrial production figures for October are coming out today. Also, the Dutch inflation figures for November, Switzerland’s unemployment rate for November and French trade data for October.Meanwhile, average UK property prices advanced for the fifth consecutive month to another peak mark of November, rallying to a high of £272,992 ($362,708).The Russian rouble stabilized today just ahead of a video call between Russian President Vladimir Putin and President Joe Biden later in the day.U.K. house prices jumped to record mark in November, with values for the last quarter, soaring at the fastest path for 15 years, as reported by the mortgage lender Halifax. 
Gold Prices Retreated
2021-12-07 07:45UTC
Gold prices tumbled this morning during the Asian hours with a rebounding USD and U.S. Treasury yields.Now, gold trades at $1782.62, which is a rise of $4.51 or 0.25% from the previous close of 1778.11.The daily trading range is from $1776.74 to 1784.48, while the trading volume is 56.171K.The USD lost some ground today but it is still above the $96 mark amid concerns over the new omicron COVID-19.Bank of England Deputy Governor Ben Broadbent yesterday stated that inflation figures in the country could "comfortably exceed" 5% in April 2022.Moreover, the Reserve Bank of Australia preserved its interest rate steady at 0.10%.On the data front, Chinese data announced exports soared 22% year-on-year.In the meantime, silver dropped 0.2% and palladium lost 0.3%.  
Asian Daily Market Review
2021-12-07 01:57UTC
Asian markets are making broad based gains after Wall Street rebounded strongly overnight, and China pledged to help support its economic recovery. Stateside Treasury yields rose, and the U.S. dollar remained stable, while oil prices rallied. Japan’s Nikkei is trading 1.1% higher as the Yen continues weakening versus the U.S. dollar. Shares of Softbank are rallying strongly, adding 7.4% while Sony shares are modestly higher by 0.4%. Among the major exporters Toyota shares are flat, Panasonic is advancing 0.6%, and Canon is trading 2.6% higher. In Australia the S&P/ASX 200 is up by 0.5%, with support coming from the big four banks. Shares of ANZ are trading 1.2% higher, NAB is adding 0.5%, Westpac is also adding 0.5%, but Commonwealth Bank is edging lower by less than 0.1%. The major miners are modestly higher today, with BHP rising 0.2% and Rio Tinto adding 0.3%. Mainland Chinese markets are trading higher in response to the supportive language from Beijing, with the benchmark Shanghai Composite advancing 0.4%, while the smaller cap Shenzhen Composite is inching up by less than 0.1%. Meanwhile over in Hong Kong the Hang Seng is leading gains for the region as it tacks on 1.2% thanks to a rebound in technology shares. In South Korea the Kospi is edging lower by less than 0.1%, and in Taiwan the Taiex is trading lower by 0.2%. Southeast Asian markets are making gains too, with the KLCI in Malaysia trading 0.4% higher and the Straits Times in Singapore adding 0.2%, while Indonesia’s Jakarta Composite is flat at the open.
Moderna Shares Get Pummeled As Investors Shrug Off Omicron Fears
2021-12-06 21:55UTC
Moderna shares cratered yesterday, falling 13.5% and putting in the worst performance of any S&P 500 stock. It was a sharp reversal after the pharmaceutical company led the S&P 500 last week, but expect more volatility in the future as investors have overreacted to most developments around COVID-19, its mutations, and vaccine needs. The drop was the worst in over a month for Moderna, and it comes as investors are weighing the potential impact of the omicron variant of COVID-19 against the prospects for economic reopening. Yesterday saw two bullish developments in the omicron story as the U.S. Centers for Disease Control said that vaccination could provide protection against the omicron variant, and leading infectious disease expert Anthony Fauci expressed optimism that the severity of the variant might not be as bad as initially feared. Moderna’s valuation, which is over $100 billion, has been debated among market participants, but it’s been difficult to come to a conclusion as the market has no way to know how long the pandemic will last, or how many booster vaccinations might be needed. Some analysts indicated that this selloff could be a good buying opportunity, since much of the world’s population still requires the vaccine, and there’s been no indication that sales will slow in 2022 or 2023. And if it’s determined, as some health experts have suggested, that yearly boosters are needed Moderna could be benefitting for years to come. It wasn’t only Moderna that was hard hit either. Shares of BioNTech were down 18.7% and Pfizer shares dropped 5.1% in its worst daily performance in over a year.
U.S. Daily Market Review
2021-12-06 13:22UTC
The main U.S. indexes surged today after largely falling last week amid Omicron variant and resulted in higher concerns.The Dow added 600 points, or 1.7%. The Nasdaq Composite secured 0.3%. The S&P-500 gained 1%.Moreover, American Airlines advanced 10%, United Airlines added nearly 11%, and Delta Air Lines popped 8.6%. Air Group jumped 7%.Carnival also secured 3% and Wynn Resorts shares soared 2%.U.S. natural gas futures tumbled more than 10% today, dropping to its weakest mar since August on the estimates of higher than usual winter temperatures. Toyota Motor stated that it planned to build a factory to make batteries in North Carolina.The White House administration won’t allow the U.S. delegation to attend the coming 2022 Winter Olympics in Beijing.
European Daily Market Review
2021-12-06 09:05UTC
European stocks added some ground today as the markets are still focused on the developments around the new omicron Covid.The German DAX gained 0.79%, the French CAC-40 surged 0.47% and the British FTSE-100 soared 0.74%.The pan-European Stoxx-600 advanced 0.7% in early trade, with oil and gas stocks rallying1.4% to lead the rising path.London Stock Exchange Group (LSEG) announced today that it had acquired Quantile Group.The Russian rouble is into a solid territory, assisted by rising oil prices. Moreover, for tomorrow is scheduled a conference call between Russian President Vladimir Putin and Joe Biden to negotiate over the conflict escalation in Ukraine.The euro zone Sentix index for December is coming out today, along with a first estimate of Greece’s GDP for the third quarter. 
Crude Oil Prices Into Recovery
2021-12-06 07:41UTC
Crude oil prices recovered than $1 a barrel this morning.This comes after top exporter Saudi Arabia boosted its export prices for Asia and the United States.Now, oil trades at $67.767, which is another incline of $1.380 or 2.08% from the previous close of 66.387.The daily trading range is from $66.387 to 68.200, while the trading volume is 23.748K.In the meantime, Organization of the Petroleum Exporting Countries and its allies including Russia is further raising its supplies by 400,000 barrels per day in January.Prices were also stimulated by the possibility of eliminating Iranian supplies, after indirect U.S.-Iranian nuclear deal broke off last week. However, the are very likely to resume middle of this week.In reality, Russia is having some technical difficulties in producing in a higher output.The new Covid-19 variant Omicron could affect global economic surge and eventually global fuel demand levels.
Asian Daily Market Review
2021-12-06 02:00UTC
Asian markets are trading broadly lower Monday morning following the sharp reversal seen last Friday on Wall Street in reaction to the weaker than expected non-farm payrolls report. Investors are also closely watching the developments in the spread of the omicron variant of COVID as it’s being discovered in more countries on a daily basis. In Japan the Nikkei has dropped 0.8% in early trade, despite the Yen remaining weaker versus the U.S. dollar. Shares of Softbank Group are plunging 8.3% lower, while Sony is trading down by 1.4%. Among the major exporters Toyota is 0.8% lower, Panasonic is losing 0.6%, and Canon is trading flat and unchanged. Australia’s S&P/ASX 200 is down 0.3%, with the big four banks pacing losses for the broader market. Shares of ANZ are 0.6% lower, NAB has a modest loss of 0.3%, Commonwealth Bank is inching up by less than 0.1%, and Westpac has a gain of 0.2%. The major miners are also weighing on the broader market today as BHP is falling 2.4%, and Rio Tinto is down by 1.6%. Mainland Chinese markets have opened mixed and little changed, with the benchmark Shanghai Composite edging up by less than 0.1%, while the smaller cal Shenzhen Composite is inching lower by less than 0.1%. Meanwhile the Hang Seng in Hong Kong is leading losses for the region as it’s falling 1.2%. In South Korea the Kospi is 0.7% lower, and in Taiwan the Taiex is down 0.2%. Southeast Asian markets are mixed however, with the Straits Times in Singapore leading gains for the region as it’s trading 0.8% higher, while the KLCI in Malaysia trades 0.2% lower.
Coffee Jumps To A 10-Year High
2021-12-03 21:15UTC
Coffee prices have reached a 10-year high this week, and market analysts believe that the commodity, which fuels billions of consumers each morning with a jolt of caffeine, could have much higher to climb from current levels. Coffee for December delivery reached $2.46 a pound last week, which is the highest level since 2011, when prices traded above $3 a pound. Meanwhile, the International Coffee Association’s benchmark price was $2.07 per pound on Friday, up 85% from a year earlier. A number of events seem to have conspired over the past year to create a perfect storm for rising coffee prices. The question traders need to ask themselves is how long these conditions will last, and continue boosting coffee prices. In Brazil the upcoming crop could be in perilous straits after an unusually cold winter period, and later a drought that may have cut the yields of coffee growers dramatically. Those lowered yields could last right into 2023. In fact, it was a similar scenario in Brazil that caused prices to spike above $3 a pound back in 2011. Adding to the potential weather issues, the same supply chain issues that have been hurting tech and industry have also had an impact on the coffee market. That’s because the growers and roasters are often located in different countries, making delivery of roasted beans more complicated. There are also uncertainties surrounding Vietnam’s production as the country sees a spike in COVID cases. And in Ethiopia the looming threat of a civil war has markets even further on edge. Typically it takes two years for market forces to bring supply back into equilibrium when prices spike like this, leaving plenty of potential upside from current levels.
U.S. Daily Market Review
2021-12-03 18:34UTC
The S&P-500 lost some side today, after a weaker November jobs report.The Dow Jones Industrial Average tumbled 100 points. The S&P-500 retreated 1%.  The Nasdaq Composite slipped 2%. November’s jobs report indicated in lower than predicted job creation last month. Nonfarm payrolls soared by 210,000 for the month, coming below the 573,000 jobs forecasts.U.S. employment growth largely dropped November amid job losses at retailers.President Biden lauded an unexpected loss in the nation's unemployment rate last month.U.S. service providers jumped at a record pattern November as consumer demand drove a further added some territory to the business activity.
European Daily Market Review
2021-12-03 10:00UTC
European markets partly surged after  the news of the new omicron Covid-19 variant.The German DAX inclined 0.54%, the French CAC-40 gained 0.49% and the British FTSE-100 advanced 0.46%.The pan-European Stoxx-600 secured around around 0.4% by mid-afternoon.The Turkish central bank makes some attempts to stabilize its currency the second time this week to slow a depreciation.Turkey's annual inflation rallied more than initial estimates, jumping to a three-year high of 21.31% in November.Euro zone consumer price inflation in November advanced to a record mark of almost 5% on annual basis in November, according to the reported data.The Russian rouble is just around one-week high versus the USD, amid concerns over Ukraine and the Omicron coronavirus variant. 
Gold Prices Rallied
2021-12-03 08:28UTC
Gold prices surged this morning during the Asian hours. Now, the yellow metal trades at $1768.74, which is a rise of $0.45 or 0.03% from the previous close of 1768.29.The daily trading range is from $1767.36 to 1776.37, while the trading volume is 74.275K.However, the price of the precious metal set for a third weekly retreated. The price was put into a negative pressure by signs that the U.S. Federal Reserve will launch asset tapering and will raise rates earlier than initially predicted.Atlanta Fed President Raphael Bostic announced that it would be appropriate to end the Fed’s bond-buying program by the end of March 2022.U.S. data from yesterday indicated in that 222,000 initial jobless claims were filed throughout the week. Meanwhile, silver and palladium gained 0.1%, while platinum dropped 0.3%.
Asian Daily Market Review
2021-12-03 02:57UTC
Asian markets opened mixed on Friday morning, but have since turned lower as investors fret over the rise of omicron COVID cases globally. This continues the swings that have been seen all week in global markets as investor uncertainty over the impact of omicron has caused increased market volatility. Japan’s Nikkei is trading modestly lower by 0.2% as the Yen is edging lower versus the U.S. dollar. Shares of Softbank Group, which fell more than 5% yesterday, are adding to losses with a 2.7% drop today. Meanwhile Sony shares are edging higher by 0.1%. Among the major exporters Toyota shares are 0.4% higher and Canon is adding 0.6%, while Panasonic shares inch lower by less than 0.1%. In Australia the S&P/ASX 200 is trading 0.2% lower, despite broad based gains from the big four banks. Shares of ANZ are trading 0.3% higher, NAB has a gain of 0.6%, Commonwealth Bank shares are advancing 0.4%, and Westpac shares are climbing 0.8% higher. Major miners are also showing strength, with BHP adding 1.2% and Rio Tinto up by 1.1%. Mainland Chinese markets are inching higher, with the benchmark Shanghai Composite and the smaller cap Shenzhen Composite both trading slightly higher by 0.1%. Over in Hong Kong the Hang Seng is leading losses for the region as it is falling 1.1% on weakness from the technology sector. In South Korea the Kospi is slightly lower by less than 0.1%, and in Taiwan the Taiex is slightly higher by less than 0.1%. Southeast Asian markets are higher however, with Malaysia’s KLCI advancing 0.3% and the Straits Times Index in Singapore trading 0.1% higher.
U.S. Daily Market Review
2021-12-02 21:43UTC
The leading U.S. stocks advanced today to reverse course after falling a day earlier. This comes after an omicron-driven sell-off in the previous session.The Federal Reserve could soon move away from its accommodative policies that added to the markets throughout the pandemic. Federal Reserve Chair Jerome Powell also stated that he feels it would be appropriate for monetary policymakers to end the asset-purchase tapering process sooner than predicted.The Dow Jones Industrial Average added 617.75 points to 34,639.78. The S&P-500 gained 1.4% to 4,577.10. The technology-heavy Nasdaq Composite secured 0.8% to 15,381.32. Delta Air Lines soared little more than 9%. MGM Resorts rallied 7.7%, and Hilton Worldwide gained 7.4%. In November 573,000 new openings were created, a rise from 531,000 in October.
Travel Stocks Rebound Strongly
2021-12-02 21:16UTC
After a selloff earlier in the week due to fears that the omicron variant of COVID would cause widespread lockdowns and more draconian travel restrictions, the travel sector had a sharp rebound yesterday, as investors chose to ignore the perceived threats following White House statements that claim no new lockdown measures are being planned. Three of the biggest movers on the day were Delta Airlines, Carnival Cruises, and MGM Resorts. The first two were up 9.3% and 9.2% respectively to lead the S&P 500, while the last advanced 7.1%. The move higher in travel stocks came even as a second omicron case was discovered in the U.S., this time in a person in Michigan, who had travelled from New York. That also indicates the variant is present in New York, so it should only be a short matter of time until we begin hearing of New York City based cases of omicron. However, market sentiment was bolstered by California governor Gavin Newsome, who said he doesn’t anticipate lockdowns in his state. That means travel to Las Vegas should remain unhindered, which is a boon for the casino industry. At the Federal level President Biden is still pushing for boosters and mask usage, but there’s been no indication of any push towards lockdowns. Despite yesterday’s move higher the travel sector is still facing headwinds as the U.S. is just beginning to see omicron cases. In addition, it’s expected that the winter months will see a surge of COVID cases, which will almost certainly have a negative impact on travel stocks. That said, any dips could be seen as buying opportunities long-term.
European Daily Market Review
2021-12-02 09:02UTC
European stocks retreated some side today amid issues persisted over the omicron Covid variant. The German DAX fell 1.10%, the French CAC-40 lost 1.05% and the British FTSE-100 declined 0.71%.The pan-European Stoxx-600 slipped 1.2% in early trade, with tech stocks falling 2.6%.European blue chip index, Britain’s Royal Mail lost more than 6%.German citizens could potentially face tougher coronavirus restrictions as the country still struggles with the pandemic.Turkey’s central bank will try to assess the impact of its present interest-rate easing cycle in the first half of next year.Furthermore, Turkey’s trade deficit grew larger in November as the advances of the commodity resulted in higher imports prices.UK shares tumbled amid concerns that the Omicron coronavirus variant jumped with several countries reporting cases of the new strain. 
Crude Oil Prices Surged Again
2021-12-02 07:14UTC
Oil prices advanced today, recovering from the previous day's losses.OPEC+ decision over supply policy soon will be announced but gains were calimited amid fears the Omicron coronavirus variant will negatively impact oil demand and eventually prices.Presently, oil trades at $66.732, which is another rise of $1.057 or 1.61% from the previous close of 65.675.The daily trading range is from $65.399 to 66.951, while the trading volume is 26.381K.Oil prices have suffered more than $10 a barrel since last Thursday, after the news of the Omicron variant took over the markets.Worries over the impact of the Omicron variant of the coronavirus rallied after the first case was reported in the United States.Crude inventories dropped 910,000 barrels in the week to Nov. 26, as reported by the Energy Information Administration (EIA).
Asian Daily Market Review
2021-12-02 03:16UTC
Asian markets are trading mixed on Thursday morning following a sharp reversal on Wall Street overnight that saw major indices erase significant early gains to finish the session markedly lower. The S&P 500 has now put in its worst two session losing streak since October 2020. Japan’s Nikkei is trading 0.7% lower as investor worries over the omicron COVID variant weighs on sentiment. Shares of Softbank Group are plunging 5.5% lower, and Sony shares are down 2.3%. Among the major exporters Toyota is 0.8% lower, Panasonic has a modest loss of 0.2%, and Canon shares are trading lower by 2.3%. In Australia the S&P/ASX 200 is edging lower by 0.1% even though the big four banks are making solid gains. Commonwealth Bank is trading 2% higher and NAB is advancing 1.2%, while ANZ shares are flat, and Westpac is underperforming with a loss of 0.7%. The major miners are trading lower and weighing on the broader market however, with BHP losing 0.5% and Rio Tinto trading 1.1% lower. Mainland Chinese markets are slightly lower at the open for a second consecutive session, with the benchmark Shanghai Composite bouncing back and forth over unchanged levels, while the smaller cap Shenzhen Composite is trading 0.1% lower. Meanwhile over in Hong Kong the Hang Seng is outperforming the mainland as it gains 0.4%. South Korea’s Kospi is leading gains for the region as it’s trading 0.9% higher, and in Taiwan the Taiex is adding 0.3%. Southeast Asian markets are also mixed, with the Straits Times in Singapore losing 0.2%, while the KLCI in Malaysia trades flat, and the Jakarta Composite in Indonesia adds 0.3%.
U.S. Markets Reverse Sharply As Omicron Is Found In California
2021-12-01 20:44UTC
U.S. markets erased solid early gains on Wednesday after the CDC confirmed the first case of omicron in the United States. The Dow Industrials were trading up by more than 500 points ahead of the news, but dropped to finish the session with a loss of % as investors panicked on the news that the omicron variant of COVID was confirmed in a patient in California. The Nasdaq and S&P 500 also reversed sharply on the news, with the tech heavy Nasdaq ending the day % lower, while the benchmark S&P 500 fell % by the close. Travel related shares such as airlines, hotels and cruise lines were hardest hit following the news. Major air carries United, American and Delta fell more than 5% each. Aircraft manufacturer Boeing was over 3% lower. In the cruise line space Norwegian Cruise Lines fell more than 5% and Carnival saw a loss of 4%. Hotels held up best, but Hilton and Wynn Resorts were still down 2% each. The financial sector held up well in the face of the selling pressure, and some energy names also performed well, despite crude losing more than 2% on the session. Some analysts opined that the selling was also partially due to tax loss harvesting. Some of the hardest hit names of the year saw some of the heaviest selling, likely because investors are taking losses to offset some of the great gains they’re experiencing in other parts of the market. Also putting pressure on equities currently are expectations for the Fed to take a quicker than previously expected exit from its easy money policies.
U.S. Daily Market Review
2021-12-01 13:57UTC
U.S. stock futures managed to surge higher today in early trading Wednesday.Dow futures added 305 points. The S&P-500 futures secured 1.2% and Nasdaq-100 futures gained 1.4%.Treasury yields also advanced, with a rise of around 1.5% after retreating 8 basis points Tuesday to 1.45%.The US economy is in a solid position, according to President Joe Biden.He predicted that prices rise will soon cease.However, Fannie Mae boosted its inflation estimate 2021, as report6ed by the Economic and Strategic Research Group.In addition, interest rates could further advance through the end of 2021.Google (GOOGL) stated that will remove any political ads on its platforms in the Philippines, as elections are coming up in May.The company declared that it will stop ads running "during an election campaign period or a silence period."
European Daily Market Review
2021-12-01 10:51UTC
European leading stocks soared today after struggling to regain ground amid concerns over the new omicron Covid variant.The German DAX inclined 1.57%, the French CAC-40 added 1.40% and the British FTSE-100 gained 1.37%.The pan-European Stoxx-600 secured 0.6% in early trade, with travel and leisure stocks jumping 2.4% to lead the rising path.Turkey’s central bank is taking actions to fight against the rapidly falling Turkish Lira, intervening in foreign-exchange markets for the first of since 2015.U.K. house prices rallied more than initial estimates in November.UK inflation resulted in a family could  spend £1,700 more per year on household costs in 2022, according to a forecast for BBC Panorama.  
Gold Prices Higher
2021-12-01 07:34UTC
Gold prices rallied this morning during the Asian hours, but are still around near a one-month bottom. Presently, the yellow metal trades at $1778.42, which is another surge of $4.89 or 0.28% from the previous close of $1773.53.The daily trading range is from $1772.06 to 1794.35, while the trading volume is 134.267K.The markets are still focused on the U.S. Federal Reserve, after Chairman Jerome Powell reported that the central bank could launch wrapping up asset tapering sooner than initial predictions.Powell said the Fed will discuss whether to end asset tapering a few months earlier than the initial plan. The World Health Organization warned against introducing travel bans, which have already been implemented by several countries. Meanwhile, silver fell 0.3%, platinum secured around 0.7%.
Asian Daily Market Review
2021-12-01 01:57UTC
Asian markets are mixed on Wednesday morning after another session of sharp losses overnight on Wall Street. Investors are growing increasingly concerned over the omicron variant of COVID, plus Federal Reserve chairman Jerome Powell rattled markets as he has become far more hawkish than ever before, promising to accelerate tapering in the U.S. to help compant persistent inflation. Japan’s Nikkei is up 0.3% in early trade as it attempts to recover from multiple sessions of losses. Shares of Softbank Group are 2.4% lower despite the broad market gains, and Sony shares are trading down 0.5%. Among the major exporters Toyota is adding 2.7%, Canon is trading 1.8% higher, and Panasonic is creeping up by 0.2%. In Australia the S&P/ASX 200 trades 0.6% lower, with losses from the big four banks weighing on the broader index. Shares of ANZ are losing 1.1%, NAB is down 0.4%, Commonwealth Bank has a modest 0.3% loss, and Westpac is edging lower by 0.1%. The major miners are helping cap losses however, as BHP adds 0.7% and Rio Tinto is rising 1.7%. Mainland Chinese markets are slightly lower at the open, with the benchmark Shanghai Composite inching lower by less than 0.1%, while the smaller cap Shenzhen Composite is down 0.2%. Meanwhile over in Hong Kong the Hang Seng is outperforming as it is gaining 1%. In South Korea the Kospi is adding 1% as well, while the Taiex in Taiwan edges lower by 0.1%. Southeast Asian markets are mixed, with Singapore’s Straits Times Index tacking on 0.7%, Malaysia’s KLCI dropping 0.4%, and the Jakarta Composite in Indonesia flat at the open.
U.S. Daily Market Review
2021-11-30 20:01UTC
The leading stock markets are into a falling side, reversing Monday’s rebound on Wall Street.Moreover, Canada's main stock index dropped to a one-month bottom amid concerns over existing vaccines may not hold up against the COVID-19 Omicron variant.The leading indexes retreated some side after Federal Reserve Chairman Jerome Powell stated the central bank is considering speeding up the bond-buying taper.The Dow Jones Industrial Average fell about 505 points, dragged down by losses in American Express and Coca-Cola. The S&P-500 declined 1.4%. The technology-heavy Nasdaq Composite retreated 1.3%. The 10-year Treasury yield lost additional side below 1.45%.The 10-year rate dropped 5 basis points to 1.47%.
Will OPEC Cause Further Crude Market Chaos?
2021-11-30 19:40UTC
Crude prices shed nearly 7% yesterday after Jerome Powell, the head of the U.S. Federal Reserve, said that the Fed could speed up the pace of tightening in the U.S. in order to combat rising inflationary pressures. Such a move would not only help cool inflation, it would also cool the U.S. economy, and could cause a dip in crude demand just as global economies are getting back on track. At the same time OPEC is meeting on Thursday to discuss whether it will go forward with the planned production increase in January, or choose to keep production unchanged in an effort to support crude prices. The cartel is miffed over the U.S. releasing crude from its strategic reserves last week. That move sent crude spiraling lower by more than 12%. The current situation looks like a brewing price war in crude. In what’s looking more and more like a tit-for-tat, President Biden also said yesterday that the U.S. is ready to release more crude from strategic reserves if necessary to keep a lid on crude prices. So, who will win this battle, OPEC the supplier, or the global consumers of oil who are interested in lowering prices to help cool global inflation? Of course there’s no way to know for certain, but given the recent price action in the crude markets, the brewing troubles could spell chaos in crude pricing over the coming weeks if both sides continue without a compromise. OPEC has historically shown it is willing to accept such chaos in the short-term in order to create stable, and higher, prices for crude in the long-term.
European Daily Market Review
2021-11-30 10:13UTC
European stocks lost some ground today amid fresh concerns over the omicron Covid variant and vaccines.The German DAX dropped 1.35%, the French CAC-40 lost 1.30% and the British FTSE-100 tumbled 1.28%.The pan-European Stoxx-600 declined 1.4% in early trade, with oil and gas stocks dropping 2.9% to lead the declining pattern.Zara owner Inditex has stated that the daughter of the founder of the Spanish fashion chain is to become the group's chairwoman. Marta Ortega will take place of Pablo Isla, who has been chairman of Inditex since 2011.Turkey’s economy managed to advance little over 7% in Q3. However, jumping inflation and the retreat of the Turkish currency retreat means that this could be seen only in the short-term.The Russian rouble sunk towards 75 versus the USD.French inflation largely jumped in November to largest trend of the last decade. 
Crude Oil Prices Dropped
2021-11-30 07:25UTC
Oil prices slipped today, losing more than 2%.This comes after a media report resulted in concerns over the efficacy of COVID-19 vaccines versus the new version, called Omicron.Now, oil trades at $67.820, which is another decline of $2.216 or 3.16% from the previous close of 70.036.The daily trading range is from $67.044 to 71.176, while the trading volume is 46.845K.Oil price fell close to 12% on Friday along with other markets on fears the heavily mutated Omicron could result is another round of lockdowns .In fact, the World Health Organization syesterday announced that Omicron posed a very high risk of infection advance.The Organization of the Petroleum Exporting countries, Russia and their allies, together called OPEC+, will put on hold plans to add 400,000 barrels per day (bpd) of supply in January.OPEC+ is meeting on Dec. 2, to reconsider its supply measure after last week's release of emergency crude reserves by the United States.
Asian Daily Market Review
2021-11-30 01:58UTC
Asian markets are trading broadly higher on Tuesday morning following overnight gains on Wall Street. Investors are also monitoring global developments in the omicron COVID variant, as well as awaiting the release of China’s latest PMI data due out later this morning. In Japan the Nikkei is trading 1.4% higher as investors react to the Yen stabilizing versus the U.S. dollar following last Friday’s sharp gains for the Japanese currency. Shares of Softbank Group are rising 0.7%, while Sony is rallying 2.7% higher. Among the major exporters Toyota is adding 2% and Canon is 3.2% higher, but Panasonic shares are edging lower by less than 0.1%. Australia’s S&P/ASX 200 is gaining 1.2% as the big four banks are rallying to support the broader market. Shares of ANZ are trading 2.5% higher, NAB is gaining 1.5%, Commonwealth Bank is modestly higher by 0.3%, and Westpac is adding 0.8%. The major miners are mixed however as BHP advances 1.4% while Rio Tinto shares are falling 0.4%. Mainland Chinese markets have also opened to gains today, with the benchmark Shanghai Composite trading up by 0.3%, while the smaller cap Shenzhen Composite edges up by 0.2%. Meanwhile over in Hong Kong the Hang Seng is defying the regional gains and is falling 0.4% ahead of the release of the mainland’s PMI data. In South Korea the Kospi is flat with a slight gain of less than 0.1%, and in Taiwan the Taiex is trading 1.1% higher. Southeast Asian markets are also higher, with the KLCI in Malaysia rising 0.4%, while the Straits Times Index in Singapore is advancing less than 0.1%.
Twitter Has Tumultuous Day As Dorsey Announces Departure
2021-11-30 00:44UTC
Shares of Twitter soared 12.6% higher at the open yesterday before trading was halted on reports that founder Jack Dorsey would be stepping down from his position as CEO of the real-time social media platform. After the trading halt shares returned to previous levels quickly, and by the end of the day sentiment had turned so much that shares were down 2.7%. Twitter’s chief technology officer, Parag Agrawal, is set to replace Dorsey as CEO. Several major stakeholders have previously suggested that Dorsey should step down as Twitter’s CEO. The reasoning is that Dorsey isn’t able to focus properly on running Twitter as he is also the CEO of the digital payments firm Square. It’s expected that Agrawal will be challenged right from the start by the aggressive monetization campaign being planned at Twitter. Earlier this year the company said it will double its revenue by 2023, largely through the monetization of its 315 million users. One recently launched monetization method is the premium Twitter Blue service, which offers ad-free reading, bookmark management, and the ability to delete a tweet within the first 30 seconds of it being posted. The service costs about $3 per month, but pricing is regional. Dorsey has left Twitter before, although the first time that he left in 2008 it wasn’t voluntary. Rather he was ousted from the company he founded. Dorsey came back to Twitter in 2015 as the company was struggling to grow and he has been able to turn things around during the ensuing six years. Twitter shares have underperformed in 2021, trading 15.5% lower since the start of the year.
U.S. Daily Market Review
2021-11-29 14:48UTC
Stocks partly regaining its ground today from Friday’s big sell-off.U.S stocks are coming off a holiday-shortened session Friday.The Dow slipped 905 points, or 2.5%. The S&P-500 fell 2.3% and the Nasdaq Composite dropped 2.2%. Microsoft gained 2.4% and Amazon and Apple secured around 1%. Twitters’ shares advanced after it was announced that CEO Jack Dorsey will leave his office.  The 10-year Treasury yield surged over 1.5% a flight to safety Friday sent investors scrambling into bonds and rates lower.U.S. airlines and other travel stocks managed to rally after marking some large falls from late last week.Shares of Moderna soared another 11% in early morning trading after jumping a whole 20% on Friday. As a matter of fact, over the week-end the company reported that it could roll out a reformulated vaccine versus the new COVID version, called omicron as early next year. 
European Daily Market Review
2021-11-29 11:42UTC
European stocks managed to rally.European shares recovered today their worst selloff of the last year.The pan-European Stoxx-600 added 0.9% in early trade.The new Covid variant has been seen in the U.K., Israel, Belgium, theNetherlands, Germany, Italy, Australia and Hong Kong, but not yet in the U.S., at least for now.Economic confidence in the euro area suffered this month, as consumers struggled with the rapidly rising inflation.Cruise ship operator Carnival secured almost 7%, beginning to bounce back from Friday’s plunge.British Petroleum soared almost 5% after a report indicated in that Indian oil-to-telecom conglomerate Reliance is considering to make an offer for to the company.Greenhouse gas emissions from European Union countries largely soared to 18% last spring, according to data from the bloc's statistics office. 
Asian Daily Market Review
2021-11-29 08:29UTC
The leading markets in Asia-Pacific retreated as the markets are concerned over the developments with the recently discovered omicron Covid variant.In fact, Asian markets finished broadly lower today with shares in Japan leading the region. Hong Kong’s Hang Seng index slipped 0.95% to close at 23,852.24. Hong Kong-listed shares of Chinese conglomerate Meituan dropped 7%.The Nikkei-225 lost 1.63% while Hong Kong's Hang Seng tumbled 0.92%.In Japan, the Nikkei-225 declined 1.63% to close at 28,283.92. The Topix index dropped 1.84% to 1,948.48. South Korea’s Kospi fell 0.92%, closing at 2,909.32.Japan Airlines lost 3.98% while ANA Holdings declined 4.09%. Australia’s Qantas Airways declined 2%.Singapore Airlines slipped 2.75%, as of 4:21 p.m. local time. 
Gold Prices Advanced
2021-11-29 08:06UTC
Gold prices advanced this morning during the Asian hours, amid issues over the impact of the possibly vaccine-resistant new variant of COVID-19, called omicron.Now, gold trades at $1794.23, which is a recovery of $2.63 or 0.15% form the previous close of 1791.60. The daily trading range is from $1780.72 to 1797.14.New cases of the omicron variant were registered in the Netherlands, Denmark, and Australia over the weekend.In the meantime, the World Health Organization stated that it will take time to analyze the new situation and has classified it as a "variant of concern”. The Atlanta U.S. Federal Reserve President Raphael Bostic reported that he estimated that the U.S. economy will carry it through the next wave of COVID-19 cases. Lower prices stimulated gold demand in many Asian hubs during the previous week. Shops in India are also getting ready for a possible rally as the wedding season is beginning.Meanwhile, silver gained 1.1%, platinum secured 2.3%. 
U.S. Daily Market Review
2021-11-26 20:46UTC
U.S. stock markets tumbled largely today as a new Covid variant found in South Africa resulted in global mode away from risk assets.The Dow Jones Industrial Average slipped 905.04 points, or 2.53%. The S&P-500 dropped 2.27% to close at 4,594.62. The Nasdaq Composite declined 2.23% to finish at 15,491.66. The United Kingdom temporarily suspended flights from six African countries due to the variant. Moreover, the U.S. will also abandon to most travelers from eight southern African countries beginning next week.West Texas Intermediate crude prices retreated more 10% from their Wednesday close amid issues that a new strain of the Covid-19 virus.Shares of the leading U.S. department-store operators declined today amid the news of the new coronavirus variant possibly resistant to existing vaccines. 
European Daily Market Review
2021-11-26 10:44UTC
European stocks lost some ground today amid concerns over a new variant of Covid-19 that is affecting multiple countries.European stocks registered the weakest mark of the year this morning, amid news of the newly found possibly vaccine-resistant coronavirus variant.The German DAX fell 2.51%, the French CAC-40 dropped 3.20% and the British FTSE-100 fell 2.60%.The pan-European Stox-600 dropped 2.5% by mid-morning, with travel and leisure stocks cratering 5.1% to lead the falling side. Italy reported that will introduce tighter Covid measures and Germany has been on the verge to introduce another lockdown.Germany’s air force is ready to transfer COVID-19 patients from overheated hospitals in the south as news cases massively jumped and a new virus variant in South Africa resulted in some serious concerns. 
Asian Daily Market Review
2021-11-26 08:50UTC
The main markets of the Asia-Pacific retreated today, with stocks in Hong Kong and Japan leading the dropping pattern.Losses of the emerging markets are taking place as most traders turned away from riskier assets after the detection of a new vaccine-resistant coronavirus variant.In fact, top officials of the World Health Organization reported yesterday that they are monitoring a new variant with “a large number of mutations.” The Japanese Nikkei-225 tumbled 2.52% to close at 28,751.62. As a matter of fact, Japan's Nikkei sunk to its bottom mark of the last month as a new coronavirus variant found in South Africa brought in many concerns.Topix index declined 2.01% to 1,984.98. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 2.18%.The JPY widely regarded as a safe-haven, rallied this morning. 
European Daily Market Review
2021-11-25 10:15UTC
European stock markets rallied today as investors continued to monitor the Covid crisis in the region.The German DAX inclined 0.32%, the French CAC-40 added 0.26% and the British FTSE-100 gained 0.17%.The pan-European Stoxx 600 secured 0.5% in early trade, with tech stocks leading the rising path.Тhe French company Remy Cointreau surged announced strong earnings outlook.UK's blue-chip index soared for a fourth session amid rising mining stocks offset losses stemming from ex-dividend trading.Italy reported yesterday evening that it will introduce stricter Covid measures and Germany has narrowly avoided another lockdown.Deutsche Bank AG will hire HSBC Holdings Plc banker Paul Sayers as the head of its international private bank in Africa. The German economy advanced less than firstly announced in the third quarter. 
Crude Oil Prices Fell
2021-11-25 09:20UTC
Oil prices retreated some territory today with the markets being focused on how major producers respond to the emergency crude release data.Now, oil trades at $78.120, which is another decline of $0.188 or 0.24% from the previous close of $78.308.The daily trading range is from 77.946 to 78.621, while the trading volume is 15.572K.U.S. West Texas Intermediate (WTI) crude futures declined 19 cents, or 0.2%, to $78.20 a barrel.The main attention is turned on the Organization of the Petroleum Exporting Countries, Russia and allies, who are meeting next week.Moreover, the U.S. Department of Energy has started an auction to sell 32 million barrels of its petroleum reserves (SPR) for delivery between late December to April 2022.
Asian Daily Market Review
2021-11-25 07:49UTC
Тhe main stock markets in Asia-Pacific are still without a solid direction today as the markets reacted to the Bank of Korea’s rate decision.Emerging market shares in Asia partly dropped this morning, as traders turned wary of riskier investments.South Korea’s Kospi slipped 0.40% after the Bank of Korea boosted its rates  by 25 basis points to 1%. Japan, the Nikkei 225 surged 0.80% while the Topix index gained only 0.4%.Australian stocks entered into recovery, being stimulated by gains in miners due to very high commodity prices.Indian shares retreated today as multiple  stocks prices fell, with a loss of 2% in ICICI Bank weighing the most on the blue-chip Nifty 50 index.Baidu will be able to start storing robotaxi fares in a part of Beijing from today, as reported by the Chinese conglomerate. 
U.S. Daily Market Review
2021-11-24 17:04UTC
U.S. stocks are having hard time to recover from their recent struggles on Wednesday as higher rates and poor retail earnings.The Dow Jones Industrial Averaged dropped 67 points, or about 0.2%. The S&P-500 was flat, while the tech-heavy Nasdaq Composite added 0.2%%. Tesla shares retreated some side today after Elon Musk sold another $1 billion in stock. Software stock Autodesk tumbled 15% after the company reported disappointing fourth-quarter data. Computer giant HP’s shares got a more than 9% lift after reporting earnings that came above results.The USD approached to fresh 16-month peak versus the euro as investors priced for the possibility that the Federal Reserve will begin raising rates in mid-2022.Autodesk  company’s shares declined more than 16% despite results.Inflation is soared over 5.4% on annual basis, which is the peak of the last nearly four decades, as announced by the Consumer Price Index (CPI).
European Daily Market Review
2021-11-24 09:55UTC
European stocks slightly advanced as investors monitored the latest data out of the euro zone. The German DAX fell 0.21%, the French CAC-40 added 0.13% and the British FTSE-100 inclined 0.28%.The pan-European Stoxx-600 secured around 0.4% in early trade, with oil and gas stocks rising little over 1% to lead the rising path.European markets are still focused on the Covid crisis in the region this week.The political parties in coalition negotiations in Germany will present their coalition agreement at a press conference in Berlin on Wednesday afternoon, the Free Democratic Party (FDP) says. The Russian rouble dropped versus the USD, moving towards its weakest point since mid-2021.Turkey's lira extended the falling path after a 15% crash to record bottoms a day earlier driven by President Tayyip Erdogan. 
Gold Prices Advanced
2021-11-24 08:29UTC
Gold prices surged this morning during the Asian hours.This takes places as the USD appreciated after the Reserve Bank of New Zealand (RBNZ) stated a less than predicted interest rate hike.Presently, the yellow metal trades at $1792.77, which is a rise of $4.22 or 0.24% from the previous close of 1788.55.The daily trading range is from $1787.95 to 1796.28, while the trading volume is 77.659K.The markets are also focused on the newly-renominated U.S. Federal Reserve Chairman Jerome Powell, who is expected to speed up monetary tightening.Moreover, the U.K.’s manufacturing purchasing managers’ index (PMI) marked 58.2, and the services PMI was 58.6, in October. In the meantime, silver fell 0.3% and palladium advanced 1.2%.  
Asian Daily Market Review
2021-11-24 03:15UTC
Asian markets are trading mostly lower in jittery trade Wednesday morning as investors are reacting to a number of issues, including the rise in COVID cases across Europe, volatility in the oil markets, and the jump in Treasury yields following the reappointment of Jerome Powell as the Federal Reserve chairman. Japanese investors have returned to the market after a mid-week holiday and are sending the Nikkei 1.2% lower, despite the weakness in the Yen versus the U.S. dollar, which would normally help provide support for Japan’s export sector. Shares of Softbank Group are 2.5% lower, and Sony shares are falling 1.6%. Among the major exporters Toyota is gaining 1.7%, while Panasonic is falling 0.6%, and Canon is advancing 1.2%. In Australia the S&P/ASX 200 is basically flat, falling just slightly by less than 0.1%. Shares of the big four banks are helping to support the market, with ANZ trading 1.1% higher, NAB adding 0.6%, Commonwealth Bank tacking on 1.1%, and Westpac edging up by less than 0.1%. Meanwhile the major miners are mixed as BHP adds 0.4%, but Rio Tinto shares are dropping 0.9%. Mainland Chinese markets have opened to modest losses, with the benchmark Shanghai Composite losing 0.3%, while the Shenzhen Composite inches lower by less than 0.1%. Over in Hong Kong the Hang Seng is also trading lower by less than 0.1%. In other markets both South Korea’s Kospi and the Taiex in Taiwan are trading 0.2% lower. Southeast Asian markets are slightly higher today in opposition to the rest of Asia, with the Straits Times in Singapore advancing 0.2%, while the KLCI in Malaysia and the Jakarta Composite in Indonesia edge up by less than 0.1%.
Crude Rallies On Reserve Release
2021-11-23 23:38UTC
Crude oil prices dipped slightly in early trade on Tuesday before reversing to finish the day substantially higher. The volatility came as President Biden announced the release of 50 million barrels of oil from the U.S. Strategic Petroleum Reserves. The irony is that the intent of the release of crude from the SPR is to lower oil prices to help stem the persistent inflation that’s been plaguing the U.S. Instead, U.S. West Texas Intermediate crude finished the session 2.5% higher, while the global benchmark Brent crude tacked on 3.2%. The rise likely came as traders make bets that OPEC will make good on its threat to curtail global crude supplies if the U.S. and other countries release crude from their strategic reserves. And it’s not only the U.S. involved in the release. China, Japan, and India are all allied with the U.S. in releasing crude from strategic reserves. The release is being coordinated by the U.S., with President Biden saying that the group of countries can send a message to OPEC that consumers are able to move prices just as readily as suppliers. Last week saw large volumes of selling in crude futures by hedge funds as they anticipated the announced release of crude from strategic reserves. That sent crude lower last week. Now that the release has actually been announced it seems we are seeing a “buy the rumor, sell the news” type reaction from traders and hedge funds. The ball is now in OPECs court. If they do reduce planned production increases then crude could still rally to $100, but if they keep production increases coming markets might get lower crude prices in 2022.
U.S. Daily Market Review
2021-11-23 14:24UTC
The leading U.S. stock futures are without a solid direction after a tech-focused sell-off spurred by rising bond yields.The USD tumbled from a 16-month peak as investors positioned for interest rate hikes next year after Federal Reserve Chairman Jerome Powell was nominated for a second term.Dow futures gained 37 points, while S&P 500 futures were flat and Nasdaq 100 futures slipped 0.2%.Dick's Sporting Goods stimulated its full-year after large demand levels. While Dollar Tree reported price hikes for all stores to $1.25 after quarterly results were in-line with forecasts.The USD index is around 16-month peaks on Tuesday after Federal Reserve Chair Jerome Powell was picked for a second term.Best Buy shares dropped 12.3% after delivering a holiday comparable sales estimates.The US has announced 50 million barrels of oil from its reserves.US President Joe Biden has repeatedly asked OPEC to boost output levels as soon as possible.
European Daily Market Review
2021-11-23 09:24UTC
European stocks lost some side today as markets are focused on the latest purchasing manager’s index (PMI) data for the euro zone.The French CAC-40 declined 1.31% while Germany's DAX dropped 1.26% and London's FTSE-100 fell 0.55%.The Russian rouble further retreated towards the 75 mark versus the USD, mobbing around its weakest mark since mid-2021.The Swiss blue-chip SMI (.SSMI) slipped 0.5% at 12,448 points on Tuesday. The Turkish lira sunk to a record bottom today. This comes just a day after President Recep Tayyip Erdogan defended his pursuit of lower interest rates.The Turkish currency tumbled past 12 per the greenback and was trading 5.6% lower at 12.0580 per USD as of 11:28 a.m. in Istanbul.
Gold Prices Advanced
2021-11-23 07:39UTC
Gold prices rallied today during the Asian hours, but are still close to its bottom mark of the last two weeks. Now, gold trades at $1807.04, which is a further incline of $3.24 or 0.18% from the previous close of 1803.80.The daily trading range is from $1802.76 to 1812.29, while the trading volume is 82.577K.Estimates include sooner than initial forecasts of interest rate hikes, after U.S. President Joe Biden nominated Federal Reserve Chairman Jerome Powell for a second term in office.In fact, President Biden nominated Powell for a second term yesterday, over Lael Brainard.Meanwhile, the markets are also focused on the rapidly jumping numbers of COVID-19 cases in Europe. The Reserve Bank of New Zealand will hand down its policy decision is due tomorrow.In the meantime, silver and platinum surged 0.4%, while palladium gained 1.3%. 
Asian Daily Market Review
2021-11-23 01:48UTC
Asian markets are mixed early Tuesday morning following a mixed session overnight on Wall Street that saw strength from the financial sector and weakness in technology after President Biden confirmed the appointment of Jerome Powell as the chairman of the Federal Reserve for an additional four years. The appointment removes some questions regarding the future of monetary policy in the U.S., but has also raised the question of whether the pace of tapering might be accelerated in order to combat inflation. In Japan the Nikkei is closed as the country celebrates a public holiday. The Yen is significantly weaker versus the U.S. dollar though following the appointment of Powell into the Fed chairman post. Australia’s S&P/ASX 200 is trading 0.5% higher, with the big four banks supporting gains for the broader market in response to the Federal Reserve news from the U.S. Shares of ANZ are advancing 1.6%, NAB is trading 0.5% higher, Commonwealth Bank is adding 1.1%, and Westpac is 1% higher. The major miners are also supporting gains for the broader market, with BHP surging 3.9% higher and Rio Tinto shares jumping 3.2%. Mainland Chinese markets are weak at the open as the benchmark Shanghai Composite edges lower by 0.1% and the smaller cap Shenzhen Composite is 0.4% lower. Over in Hong Kong the Hang Seng is leading losses for the region as it’s falling 1.2%. In South Korea the Kospi is trading 0.6% lower, and Taiwan’s Taiex is matching that with its own 0.6% loss. Southeast Asian markets are mixed today, with Malaysia’s KLCI slightly higher by 0.1% and the Straits Times in Singapore edging lower by 0.1%.
How Much Lower for EUR/USD?
2021-11-22 22:27UTC
The EUR/USD fell below the 1.1250 level yesterday as narratives on both sides of the Atlantic contributed to the weakness in the pair. The close below 1.1250 has the pair at its lowest level since June 2020, and markets are now expecting to see considerably lower levels for the pair in the coming weeks. In the European Union it’s now expected that shutdowns due to the spread of COVID will shut down any economic recovery, and that’s going to continue working against the Euro. In the U.S. the renomination of Jerome Powell as the Fed chairman sent Treasury yields higher, creating more upside momentum for the U.S. dollar. The reality is that the interest rate differential between the U.S. and the European Union will keep the EUR/USD moving lower for some time to come. That means any rallies in the pair in the coming weeks could present a good opportunity to speculate on further downside. With expectations for the U.S. to begin raising interest rates in 2022, while the European Union is expected to remain on hold into 2024 the way seems clear for extensive downside in the pair. It is possible we could see some choppy behavior emerge in the pair in the coming sessions, but traders shouldn’t be fooled. Fundamentally there’s little reason for the Euro to appreciate against the U.S. dollars, and we see any reversal of the current downside move as likely little more than profit taking for those who’ve been short this pair since the 1.1370 level. The real question now is how long will it take for the pair to get to 1.1000 and will that level provide support?
U.S. Daily Market Review
2021-11-22 15:26UTC
Stocks advanced today after President Joe Biden chose Jerome Powell to continue his leadership of the Federal Reserve over Fed Governor Lael Brainard. The Dow Jones Industrial Average added 245 points. The S&P-500 and the Nasdaq Composite gained 0.7% and 0.2%, accordingly, with both rallying to intraday peak values.Moderna shares extended the rising path after securing of 1.8% in early trading. This comes after the FDA last week approved the company’s booster shot for all U.S. adults.U.S. markets will be closed this Thursday on Thanksgiving Day. In addition, the stock market closes early at 1 p.m. ET on Friday.The USD advanced to 16-month peak versus the euro on Monday after Federal Reserve Chair Jerome Powell was nominated for a second four-year term by President Joe Biden.Returns on U.S. government bonds extended overnight surged after the White House stated that President Biden will nominate Federal Reserve Chairman Jerome Powell for a second term.
European Daily Market Review
2021-11-22 09:37UTC
European stocks only partly advanced today, coming off issues over Covid-19 restriction measures.The German DAX slipped 0.38%.UK's FTSE-100 rallied from three-week lows on Monday.Moreover, miner BHP soared to deal to merge its petroleum arm with Woodside.The Swiss blue-chip SMI added 0.1% at 12,560 points on Monday.The Russian rouble is in red during the last three sessions and is close to a three-month bottom versus the USD.In addition, the Russian stocks dropped to their weakest mark the start of September.Norway's Telenor (TEL.OL) and Thai Charoen Pokphand Group (CP Group) agreed to merge their units in Thailand in a massive deal of $8.6 billion. 
Crude Oil Prices Retreated
2021-11-22 08:53UTC
Oil prices tumbled today from seven-week bottoms but are still in red after Japan stated that considers releasing some of its oil reserves.Now, oil trades at $76.451, which is a small recovery of $0.816 or 1.08% from the previous close of $75.635.The daily trading range is from $74.745 to 76.672, while the trading volume is 27.065K.Brent declined 26 cents, or 0.3%, to $78.63 a barrel as of 0725 GMT.WTI and Brent prices sunk to their bottom mark since Oct. 1.Tokyo considers some opportunities to bypass a law which permits the release of oil reserves.Further weighing on prices was possible renewed lockdowns in Europe as COVID-19 cases surged again. Germany warned that it could also introduce a full lockdown after Austria reported that it would reimpose strict measures.
Asian Daily Market Review
2021-11-22 01:58UTC
Asian markets are trading mixed to start the week as investors worry over rising COVID cases in Europe that could cause another round of lockdowns around the region. Another worry is that rising inflation in the U.S. will cause the Federal Reserve to accelerate its tapering plans and potentially begin raising interest rates sooner rather than later. Japan’s Nikkei is trading 0.4% lower today, despite the Yen weakening versus the U.S. dollar, which is supporting for Japan’s export sector. Shares of Softbank are inching higher by 0.1%, but Sony is trading 1% lower. Among the major exporters Toyota shares are sliding 1.2%, while Panasonic is losing 0.7% and Canon is also dropping 1.2%. In Australia the S&P/ASX 200 is also 0.4% lower today, with the big four banks weighing on the broader market. Shares of ANZ are trading 1.5% lower, NAB has fallen 1.1%, Commonwealth Bank is down 1.6%, and Westpac is underperforming with a loss of 2%. The major miners are mixed however, with BHP edging lower by 0.1%, while Rio Tinto is supporting the market with a gain of 1.4%. Mainland Chinese markets are making gains today after the People’s Bank of China indicated easing measures to help the flagging Chinese economy, and cool the rise in the Yuan. The benchmark Shanghai Composite is trading 0.4% higher, and the smaller cap Shenzhen Composite is adding 0.5%. Over in Hong Kong the Hang Seng is edging lower by less than 0.1%. In South Korea the Kospi is leading gains for the region as it rises 0.8%, but Taiwan’s Taiex has a slight loss of 0.1%.
U.S. Daily Market Review
2021-11-19 15:56UTC
Stocks are into a fluctuating mode amid issues over a resurgence of Covid-19 weighed on global markets.The Dow Jones Industrial Average dropped 245 points, or 0.53. The S&P-500 partly fell and the Nasdaq Composite gained 0.5%.The House of Representatives decided to approve President Biden’s $1.7 trillion social safety net bill.U.S. equity funds faced an outflow in the week to Nov. 17 after six consecutive weeks of inflows as investors assessed prospects of early rate hikes by the Federal Reserve.Foot Locker tumbled more than 3.5% in the premarket after the footwear company and apparel retailer stated that predicts global supply chain constraints to carry on in this quarter as well.Shares of Farfetch Ltd (FTCH.N) retreated little more than 22% on Friday and were set to mark their biggest percentage retreat of the last two years.
European Daily Market Review
2021-11-19 08:34UTC
European markets advanced today, looking for another rising week as investors continue to focus on the economic data.The German DAX added 0.20%, the French CAC-40 inclined 0.40% and the British FTSE-100 secure 0.28%.The pan-European Stoxx 600 gained 0.4% in early trade.Piraeus Bank (BOPr.AT), one of the leading Greek banks announced a lower loss in the third quarter compared to April-to-June.The Swiss blue-chip SMI advanced 0.4% higher at 12,603 points on Friday.The U.K. retail sales surged 0.8% month-on-month in October, slightly above 0.5%.The Russian rouble extended its weekly falling trend on Friday, recovering some losses sustained versus the USD in the previous session.The cost of servicing U.K. government debt jumped more than three times last month from a year earlier due to rallying inflation figures. 
Gold Prices Advacned
2021-11-19 07:45UTC
Gold prices surged this morning during the Asian hours, but are set for its first weekly losses.Presently, the precious metal trades at 1856.35, which a retreat of $1.95 or 0.10% from the previous close of 1858.30.The daily trading range is from $1855.90 to 1863.63, while the trading volume is 54.593K.The U.S. Federal Reserve is now contemplating earlier interest rate hikes.Data from the previous week also indicated that inflation advanced to its highest level in 30 years in October.Meanwhile, Thursday’s data showed that 268,000 initial jobless claims were filed in the U.S. throughout the week. Meanwhile, silver added 0.4%. Platinum gained 0.94% and palladium secured 0.5%.
Asian Daily Market Review
2021-11-19 02:42UTC
Asian markets are trading higher on Friday morning, looking to end the week on a high note. Wall Street was also mostly higher overnight, which is providing some support. However an earnings miss from Alibaba has investor eyes on the tech sector, and on Hong Kong. Japan’s Nikkei is adding 0.4% today, with the Yen edging lower versus the U.S. dollar. Shares of Softbank Group are falling 1.3% today, but Sony shares are adding 0.3%. Among the major exporters Toyota trades 0.6% lower, Panasonic shares are falling 1%, but Canon is offsetting that weakness with a gain of 1%. In Australia the S&P/ASX 200 is basically flat, edging up by less than 0.1%. Shares of the big four banks are mixed as ANZ is down 0.7%, NAB is losing 0.9%, and Westpac is 0.3% lower, but shares of Commonwealth Bank are rising 0.8%. Meanwhile the major miners are inching higher as BHP adds 0.1% and Rio Tinto tacks on 0.2%. Mainland Chinese markets are making modest gains, with the benchmark Shanghai Composite up a slight 0.1% and the smaller cap Shenzhen Composite rising 0.3%. Over in Hong Kong the Hang Seng is underperforming and leading losses for the region as it’s losing 1.7% following the earnings miss by Alibaba. Alibaba shares are trading 10.2% lower to weigh on the broader index. In South Korea the Kospi is adding 0.3%, while the Taiex in Taiwan is edging higher by less than 0.1%. Southeast Asian markets are mixed, with the Jakarta Composite in Indonesia leading gains for the region as it rises 0.8%, and the KLCI in Malaysia up by 0.1%, while Singapore’s Straits Times Index inches lower by less than 0.1%.
Are Disney Shares Ripe For A Rebound?
2021-11-19 00:44UTC
Disney’s failure to meet revenue and earnings expectations in the third quarter have weighed on the stock, sending it down through the bottom of its trading range in a spiral that’s not stopped since last week. However, at least one analyst believes there’s upside for the stock, even in its current dire straits. Since hitting an all-time high of $203.02 back in March shares have been consolidating, but following the latest earnings results shares dropped down through the bottom of that consolidation zone. Shares closed yesterday just above the support level seen at $155 a share, which makes this a crucial time for Disney’s stock price. If that support level holds, then there’s hope for shares to recover and at least trade back into its consolidation range. However a break of the support level could see shares fall significantly further, with the potential for a fall as far as $130 a share before further support is found. Interestingly, Wall Street remains bullish on the stock, with 17 recommending to buy the stock and the remaining six who cover the stock recommending to hold. There are currently no sell recommendations on Disney. The trend lower in COVID cases in the U.S. has prompted Disney to reopen its theme parks fully, while also resuming cruises. Investors feel like the resumption of normal activity at Disney will help foster a rebound, but so far the stock price isn’t reflecting that optimism. Disney’s management has said they aren’t worried, and that 2022 results will improve as they are focusing on the long-term more than quarter by quarter results.
U.S. Daily Market Review
2021-11-18 13:02UTC
U.S. stocks jumped today after Nvidia, the leader of chipmaker, announced higher than predicted third-quarter results.The Dow slipped 8 points, or 0.07%. The S&P-500 secured 0.1% and the Nasdaq Composite soared 0.2%.Other chipmakers such as Advanced Micro Devices Inc and Qualcomm Inc surged  2.1% and 0.9%.Ecommerce platform Amazon.com secured 0.5%.Cisco Systems dropped 7% due to weaker revenue guidance and a revenue miss. Kraft Heinz shares also tumbled more than 3%.The number of officially unemployed Americans sunk close to pre-pandemic levels last week.In reality, initial claims for state unemployment benefits dropped 1,000 to a seasonally adjusted 268,000 for the week ended Nov. 13, as reported by the the Labor Department.
European Daily Market Review
2021-11-18 09:04UTC
European stocks are still without a clear direction today amid market concerns around the region’s inflation outlook.European stocks closed at a record high on Wednesday, adding some ground for the sixth straight session.The French CAC added 0.04% and the British FTSE-100 slipped 0.21%, while the German DAX is around the same levels.The pan-European Stoxx-600 moved around the flatline in early trade, with oil and gas dropping 1.4%.U.K. consumer price index (CPI) marked 4.2% in the 12 months to October. Royal Mail shares advanced more than 6% to lead the Stoxx 600 after the British postal giant announced that it will return £400 million ($539.8 million) to shareholders.Playtech gained 4.1% after receiving a takeover bid from JKO Play Ltd.Shares of German Continental tumbled 2.7% after reporting the leave of its chief financial officer. 
Oil Prices Dropped
2021-11-18 08:22UTC
Oil prices retreated this morning during the Asian hours, extending the previous session’s falling path.Now, oil trades at $77.470, which is a loss of $0.740 or 0.95% from the previous close of 78.210.The daily trading range is from $77.050 to 78.413, while the trading volume is 27.245K.U.S. oil came under pressure after the U.S. reportedly asked major oil consumers, including China and Japan.The U.S. move comes as surging energy prices added to record-level inflation in October.Oil managed to jump to seven-year highs in October, as demand recovered after COVID-19 lockdowns were removed.The International Energy Agency and OPEC recently reported that more supply will be available in the coming few months. Yesterday’s U.S. crude oil data from the U.S. Energy Information Administration demonstrated a draw of 2.101 million barrels for the week to Nov. 12.
Asian Daily Market Review
2021-11-18 03:24UTC
Asian markets are trading mostly lower on Thursday morning following overnight losses on Wall Street. Major indices from Japan to China are struggling to find gains, with many markets extending losses from the previous session. Japan’s Nikkei is trading 0.8% lower, with a jump in the value of the Yen versus the U.S. dollar weighing on shares of Japan’s exporters. Softbank Group is trading 3.1% lower, but Sony shares are edging slightly higher by less than 0.1%. Among the major exporters Toyota is falling 0.7% and Canon is losing 0.4%, while Panasonic shares are rising 0.3%. In Australia the S&P/ASX 200 is one of the few rising markets today, with a modest gain of 0.1%. Shares of the big four banks are weighing on the broader index for a second day, with ANZ trading 1.1% lower, NAB falling 0.8%, Commonwealth Bank losing 1.3%, and Westpac dropping 0.6%. Meanwhile the major miners are making modest gains as both BHP and Rio Tinto tack on 0.2%. Mainland Chinese markets are trending lower as well, with the benchmark Shanghai Composite losing 0.3%, while the smaller cap Shenzhen Composite has a loss of 0.7%. Over in Hong Kong the Hang Seng is underperforming to lead losses across the region with a drop of 1.4%. South Korea’s Kospi is trading 0.2% lower, and the Taiex in Taiwan is trading 0.2% higher. Southeast Asian markets are also mixed today, with the Jakarta Composite in Indonesia trading 0.4% lower, the KLCI in Malaysia losing 0.2%, and the Straits Times Index in Singapore inching higher by less than 0.1%.
U.S. Daily Market Review
2021-11-17 16:10UTC
U.S. stocks are into a lower side as most markets weighed strong earnings reports.The Dow Jones Industrial Average slipped 142 points, or 0.4%. The S&P-500 and the Nasdaq Composite dropped 0.1%. The Dow tumbled around 5% drop in Visa.Visa shares retreated 5% after Amazon announced that will stop accepting payments made with Visa credit cards issued in the U.K. as of 2022.Boeing stock advanced around 2% after the company received an Akasa Air order for its 737 MAX worth $9 billion.U.S. single-family homebuilding fell in October while the number of houses not yet started rallied to a 15-year high.The USD came off a fresh 16-month peak today, while the euro is still into recovery.
European Daily Market Review
2021-11-17 10:48UTC
European markets are still without a solid directionn Wednesday as investors awaited inflation readings from the euro zone and London.The German DAX added 0.08%, the French CAC-40 inclined 0.10% and the British FTSE-100 slipped 0.39%.The pan-European Stoxx-600 is just above the flatline by mid-morning.U.K. consumer price index (CPI) inflation marked 4.2% in October, which is the peak mark of the last decade.Swedish gaming company Evolution AB fell around $3 billion in market value on Wednesday, after a U.S. law firm accused its in  violation of U.S. sanctions.Travel and leisure stocks dropped 1.2, after the negative pressure by Swedish online gaming company Evolution.Turkish President Recep Tayyip Erdogan is still trying to figh for lower interest rates.Meanwhile, the Turkish lira further depreciated. 
Gold Prices Advacned
2021-11-17 07:26UTC
Gold prices rallied this morning during the Asian hours but are still around a recent bottoms.This comes amid solid U.S. retail sales reading stimulated the USD close to a 16-month high.Now, the precious metal trades at $1857.84, which is a gain of $7.76 or 0.42% from the previous close of 1850.08.The daily trading range is from $1849.37 to 1859, while the trading volume is 88.723K. Data from yesterday indicated that the U.S. retail sales secured 1.7%, more than the initial predictions.Meanwhile, Federal Reserve Bank of St. Louis President James Bullard stated that the Fed should "tack in a more hawkish direction" in preparation for longer-term high inflation. In the meantime, silver added 0.6%, while platinum and palladium both surged 0.3%.
Asian Daily Market Review
2021-11-17 02:05UTC
Asian markets are trading lower on Wednesday morning after a positive overnight session on Wall Street. U.S. equities, which had been struggling near record highs in the previous sessions, were given a boost overnight by stronger than expected retail sales data, underpinned by the strong third quarter results from retailer Home Depot. Japan’s Nikkei is trading 0.2% lower after the Yen reached its lowest level versus the U.S. dollar since March 2017. Shares of Softbank Group are 1.1% higher, but Sony shares are slipping 0.2% lower. Among the major exporters Toyota is adding 0.9%, but that’s being offset by a 0.9% loss from Panasonic. Meanwhile Canon shares are also slipping 1% lower. In Australia the S&P/ASX 200 is 0.4% lower, with shares of the big four banks weighing on the broader market. Commonwealth Bank shares are plunging 6.9% lower, ANZ has a 1.4% loss, NAB is losing 0.8%, and Westpac shares are 1% lower. Meanwhile the major miners are also contributing to market weakness as BHP loses 1.2% and Rio Tinto slips 0.4% lower. Mainland Chinese markets are mixed as the benchmark Shanghai Composite is 0.2% lower, but the smaller cap Shenzhen Composite is 0.2% higher. Over in Hong Kong the Hang Seng is slipping lower by 0.6% to underperform mainland markets. South Korea’s Kospi is leading losses for the region with a loss of 0.9%, and in Taiwan the Taiex is leading gains for the region as it’s rising 0.2%. Southeast Asian markets are weaker as well, with the KLCI in Malaysia and Straits Times in Singapore each slipping 0.2% lower, while the Jakarta Composite in Indonesia is flat at the open.
Home Depot Shares Rise On Strong Earnings
2021-11-16 23:33UTC
Shares of retailer Home Depot jumped by 5.7% yesterday after reporting better than expected third quarter revenues and earnings. Those results were fueled by a 9.8% jump in sales as home owners spent cash to fix up their homes. Not only did same store sales rise 6.1%, beating the expected 2.2% increase, but the average ticket also rose by 12.9% as consumers spent more than usual when visiting the store. Management said that strong demand is also spilling over into the fourth quarter as Home Depot readies for the upcoming holiday season. Management has already said that the sales growth in the first two weeks of the fourth quarter is stronger than third quarter growth. That trend could well continue too, as October sales were stronger than August and September, indicating consumer spending is growing rather than shrinking. The jump in share price took shares to an all-time high just below the $400 level. Home Depot shares have now gained 47.7% since the start of the year as U.S. consumer spending has been exceptionally strong. The retailer reported earnings of $3.92 a share on revenues of $36.82 billion. That compared favorably with expectations of $3.40 a share in earnings on $35.01 billion in revenue. The strong housing market in 2021 has helped Home Depot as consumers are willing to spend more in response to the sharp rise in home values. Demand for materials is also rising from home construction and repair professionals, with Home Depot holding a larger share of the professional market versus rival Lowes. More good news for the future is that the retailer said it’s received nearly all its fourth quarter goods, meaning no supply chain issues.
U.S. Daily Market Review
2021-11-16 14:20UTC
U.S. stocks are into a higher side today  after a solid October retail sales report and greater than predicted third-quarter results from Home Depot and Walmart.The Dow Jones Industrial average gained 143 points, or 0.4%. The S&P-500 inclined 0.5% and the Nasdaq Composite soared 0.7% as well. Retailer Home Depot Inc rallied almost 6% to a record intraday peak and was on pace for its best one-day % advance since April 2020 after marking values over quarterly sales forecasts.Tesla shares soared 3%, recovering all of its losses from Monday, after Elon Musk sold nearly $7 billion worth of Tesla stock last week. U.S. Treasury yields advanced today in choppy trading session. Moreover, sales jumped more than the forecasts in October and before the U.S. Treasury's sale of 20-year bonds on Wednesday.
European Daily Market Review
2021-11-16 09:28UTC
European stocks are without a direction as investors reacted to vital economic data and a fresh round of corporate earnings.The pan-European Stoxx-600 secured 0.1% in early trade, with telecoms surging 1.1%.The German DAX added 0.15%, the French CAC-40 gained 0.20% and the British FTSE-100 slipped 0.11%.Tensions are into a gaining mode over Russia’s alleged build-up of troops at the Ukrainian border.U.K. payrolls jumped 160,000 following the end of the country’s furlough scheme in October.Vodafone shares also soared more than 4% after its earnings data.British employers added 160,000 positions to their payrolls in October.In fact, the unemployment rate in the UK for July to September sunk to 4.3, a loss of 0.5% versus to last year, as reported by the Office for National Statistics.Dutch tech investor Prosus NV added 1.6% after estimating higher profit for the first half of 2022. 
Crude Oil Prices Into Recovery
2021-11-16 07:44UTC
Oil prices regained its ground from a weak start of the day amid concerns over tight inventories underpinned prices.Now, oil trades at $81.50, which is another rise of $0.62 or 0.77% from the previous close of $80.88. Brent futures gained 60 cents, or 0.73%, to $82.65 a barrel, as of 0420 GMT.Russian oil supplies in Asia advanced to its peak mark of the last 2 years for cargoes loading in January, extending gains for a fourth straight month.Europe is once again severely affected by the COVID-19 pandemic. This is resulting in several countries to consider re-imposing lockdowns.The Organization of the Petroleum Exporting Countries (OPEC) a few days ago reduced its global oil demand forecast for the fourth quarter by 330,000 barrels per day (bpd) from last month's estimate.
Asian Daily Market Review
2021-11-16 02:28UTC
Asian markets are mixed Tuesday morning after a mixed overnight session on Wall Street. Australia’s central bank released the minutes of its latest monetary policy meeting, which indicates the central bank is prepared to keep interest rates unchanged through 2024. Japan’s Nikkei is trading back and forth over unchanged levels, and is little changed, although the Yen is weaker versus the U.S. dollar today, which should support shares of Japan’s exporters. Softbank Group is trading 0.4% higher, and Sony shares are up 0.5%. Among the major exporters Toyota is rising 1.8%, but Panasonic is offsetting that with a loss of 1.6%. Canon shares are adding 0.7%. In Australia the S&P/ASX 200 is leading losses for the region, trading 0.5% lower in response to the latest Reserve Bank of Australia monetary policy meeting minutes. The big four banks are little changed for the most part today, with ANZ trading lower by less than 0.1%, Commonwealth Bank falling 0.2%, NAB trading flat, and Westpac trading 0.4% higher. Meanwhile the major miners are weighing on the broader index as BHP is losing 2% and Rio Tinto is 1.4% lower. Mainland Chinese markets have opened to the upside, with the benchmark Shanghai Composite adding 0.3% and the smaller cal Shenzhen Composite rising 0.5%. Over in Hong Kong the Hang Seng is outperforming the region, advancing 0.7%. In South Korea the Kospi is 0.4% higher, and in Taiwan the Taiex is adding 0.3%. Southeast Asian markets are mostly higher as well, with the KLCI in Malaysia up 0.2% and Singapore’s Straits Times Index slightly higher by 0.1%. Meanwhile Indonesia’s Jakarta Composite has opened to a slight loss of less than 0.1%.
Crude Slips From Highs
2021-11-15 22:33UTC
Crude oil prices skidded lower yesterday as trader worries over rising supplies and falling demand brought the high-flying crude contracts closer to earth. After a stellar 2021 crude has been slipping for the past three weeks as a stronger USD weighs on prices, while speculation over the potential for the U.S. to begin releasing crude from its strategic reserves adds to supply worries. The White House has been debating ways to cool inflationary pressures, and one of the potential solutions would be to release some crude from the U.S. strategic reserves to cool the exceptionally hot crude markets. Another solution involves halting U.S. exports of crude. As crude prices hover near a seven year high U.S. drillers have been active, adding to the rig counts in the past three weeks. The rig count is often considered a good proxy for future crude output. The rig count is now at its highest level since April 2020, indicating a return to pre-COVID production levels. While that in itself might not be bad for crude prices, the rise in rigs, and potential production, comes as demand for crude hasn’t been keeping pace. Just last week the Organization of Petroleum Exporting Countries (OPEC) cut its global crude demand forecast for the fourth quarter by 330,000 barrels per day from last month’s forecast. The demand cut is in response to rising inflation and the strong USD, both of which have hampered the global economic recovery from the COVID-19 pandemic. However Russia’s Rosneft doesn’t agree as they warned last week of the potential for a crude “super-cycle” caused by demand far outstripping supply.
U.S. Daily Market Review
2021-11-15 17:38UTC
U.S. stocks retreated some side as Treasury jumped, paring advances from earlier from the session.The Dow Jones Industrial Average hovered near the flatline. The S&P-500 dropped 0.1%. The Nasdaq Composite declined 0.4%, as the 10-year Treasury yield climbed over 1.6%.Tesla shares tumbled 4.5% after Elon Musk implied in that he could sell even more of his shares. The safe-haven USD jumped to a 16-month high versus the main pairs, boosted by global growth and inflation issues.U.S. coal prices rallied to its peak of the last 12 years.Shares of Chevron gained little over 1% after UBS upgraded the stock to a buy rating from neutral.
European Daily Market Review
2021-11-15 12:53UTC
European markets are still without a solid market direction as most traders and investors are focused on the direction amid a steady loss of economic data and corporate earnings from around the world.The German DAX inclined 0.18%, the French CAC-40 soared 0.49% and the British FTSE-100 slipped 0.15%. The pan-European Stoxx-600 moved around the flatline in early trade.Airbus lowered its 20-year commercial airplane demand estimates by 0.5% compared to pre-pandemic projections. However, was able to boost its outlook for freight carriers.Euro zone bond yields tumbled this morning as focus is still on a debt supply shortage.Bond yields dropped across markets, with U.S. Treasury yields also adding to the falling path.Turkey’s banking sectors marked its best session of the last years. This comes as a bid by Banco Bilbao Vizcaya Argentaria SA for the rest of its Turkish unit.The Borsa Istanbul Banks Index inclined 9.5% as of 1:07 p.m. in Istanbul, the biggest intraday gain since November 2015. 
Gold Prices Fell
2021-11-15 07:23UTC
Gold prices fell this morning during the Asian hours, coming off from the more-than-five-month high.Now, gold trades at $1861.62, which is a loss of $2.59 or 0.14% from the previous close of 1864.21.The daily trading range is from $1856.20 to 1868.04, while the trading volume is 79.955K.Rising inlationary pressures continue to be on investors’ radars. Federal Reserve Bank of Minneapolis President Neel Kashkari stated that although he estimates increasing inflation to continue over the next few months.Meanwhile, U.S. Treasury Secretary Janet Yellen added that controlling COVID-19 in the U.S. will be crucial to easing inflationary pressures. The Bank of England is set to become the first key bank to raise interest rates, whether the hike will come in December.In the meantime, silver declined 1.1%, platinum fell 0.6%.
Asian Daily Market Review
2021-11-15 02:15UTC
Markets in Asia are trading broadly higher Monday morning as investors are looking ahead to a slew of economic data coming from China, including retails sales and industrial production for October. Japan’s Nikkei is trading 0.6% higher, despite Japan’s third quarter gross domestic product falling by 3%, which was far worse than the 0.8% contraction that was expected. Shares of Softbank Group are trading 1.6% higher, and Sony shares are adding 0.9%. Among the major exporters Toyota is up by 1.6%, Panasonic is edging higher by 0.1%, and Canon is slightly lower by 0.2%. Australia’s S&P/ASX 200 is adding 0.5%, although the big four banks are weighing on the broader market today. Shares of NAB are trading 2.1% lower, ANZ and Commonwealth Bank shares are falling 0.2%, while Westpac shares are climbing 0.8% higher. Meanwhile the major miners are mixed, with BHP losing 0.5%, but Rio Tinto gaining 0.4%. In mainland China markets have opened to the downside, with the benchmark Shanghai Composite losing 0.2% and the smaller cap Shanzhen Composite dropping 0.4%. That drop is coming despite both retail sales and industrial production coming in stronger than expected. Over in Hong Kong the Hang Seng is following the lead of the mainland and trading slightly lower by less than 0.1%. South Korea’s Kospi is leading gains for the region today by adding 1%, and in Taiwan the Taiex is trading 0.7% higher. Southeast Asian markets are little changed as the KLCI in Malaysia is edging lower by 0.1%, Singapore’s Straits Times Index is slightly higher by less than 0.1%, and the Jakarta Composite in Indonesia is 0.1% higher.
GBP/USD Hits Lowest Level Of 2021
2021-11-12 22:47UTC
The USD surged versus the Pound this past week after U.S. consumer inflation came in at its highest level in over 30 years, prompting a surge in U.S. Treasury yields, and increased speculation over Fed tightening in 2022. Also contributing to the drop in the GBP/USD is uncertainty over Brexit and disappointing U.K. growth data. The drop in the pair has taken the pair to its lowest level of 2021, and analysts believe further downside could well be coming as the Fed is already indicating that two rate hikes in 2022 are already in the cards, while the Bank of England made the decision last week to hold off on an expected interest rate hike. And traders are now questioning the likelihood of a December rate hike too, after third quarter GDP in the U.K. was just 1.3% versus expectations for 1.5%. Meanwhile in the U.K. tensions over Brexit are rising, with some fearing an all-out trade war brewing after David Frost, the UK point man for the topic, signaled he is ready to use Article 16 of the Withdrawl Treaty to suspend the deal. The coming week could be crucial for the Pound. The U.K. will release CPI figures for October this Wednesday, and if this slips to 3% or lower it’s almost certain that a December rate hike will be off the table. Friday’s U.K. retail sales figures could also shake the Pound. After dropping 0.2% in September markets are now expecting an increase of 0.5% for October. There’s little economic data from the U.S. next week, but Fed members will be speaking throughout the week, which could influence the USD movements.
U.S. Daily Market Review
2021-11-12 17:57UTC
The leading U.S. indexes advanced but are on pace to snap a five-week rising path.The Dow Jones Industrial Average added about 150 points, or 0.4%. The S&P-500 soared around 0.7% and the Nasdaq Composite gained 0.9%.The number of Americans voluntarily leaving their jobs jumped to a record high in September while job openings stayed well above pre-pandemic levels.The USD tumbled some ground amid high inflation hurting the consumer sentiment. In fact, inflation rallied the most since 1990, according to the Labor Department. Prices soared over 6% for U.S. consumers in October versus last year. U.S. consumer sentiment dropped in early November to its weakest mark of the last decade amid growing inflation figures.
European Daily Market Review
2021-11-12 09:59UTC
European stocks are still without a direction this morning.The German DAX inclined 0.08%, the French CAC-40 added 0.10% and the British FTSE-100 slipped 0.41%.The pan-European Stoxx 600 shifted around the flatline in early trade, with household goods adding 1.2%.Richemont shares soared almost 8% in early trade after the Swiss luxury goods company posted strong earnings results.Daimler announced Thursday that its truck business will be spun off on Dec. 10 as the German automaker looks to reduce costs.Deutsche Telekom advanced little more than 2% after coming above profit forecasts and raising its full-year outlook.Italian infrastructure firm Atlantia gained 1.2% after raising its 2021 estimate.AstraZeneca missed its profit estimates. The blue-chip FTSE-100 index retreated 0.3% at 0819 GMT, led by AstraZeneca. 
Crude Oil Prices Dropped
2021-11-12 07:35UTC
Oil prices dropped this morning, wiping out inclines from the previous session, as the USD continued to advance. Now, oil trades at $80.872, which is a loss of $0.312 or 0.38% from the previous close of 81.184.The daily trading range is from $80.807 to 81.512.U.S. West Texas Intermediate (WTI) crude futures slipped 58 cents, or 0.7%, to $81.01 per barrel.Both benchmark crude contracts were poised to end the week lower by around 0.7% after massive shifts, driven by a appreciating USD.There are positive signs on the demand side, with air travel rapidly gaining its ground but tighter monetary and fiscal policy.The Organization of the Petroleum Exporting Countries (OPEC) reduced its world oil demand forecast for the fourth quarter by 330,000 barrels per day.
Asian Daily Market Review
2021-11-12 02:40UTC
Markets across Asia are trading broadly higher on Friday morning as investors react to the second consecutive day of sharply rising Treasury yields in the U.S. Yields have been rising on worries over rising inflation, and the U.S. dollar has also been following those rising yields higher as well. Japan’s Nikkei is trading 1.2% higher today, with the Yen continuing in its decline against the U.S. dollar and supporting shares of Japan’s exporters. Shares of Softbank Group are 3.3% higher, and Sony is adding 1.2%. Among the major exporters Toyota is adding 2.2%, while Panasonic rises 1.7%, and Canon trades 1.3% higher. In Australia the S&P/ASX 200 is 1.1% higher, supported by gains from the big four banks. Shares of ANZ are 0.7% higher, NAB has a 1.3% gain, and both Commonwealth Bank and Westpac are advancing 0.8% higher. The major miners are making strong gains today, with BHP adding 3.3%, and iron giant Fortesue Metals trading 3.7% higher, while Rio Tinto tacks on 3.9%. Mainland Chinese markets are struggling however, with the benchmark Shanghai Composite edging lower by less than 0.1% and the smaller cap Shenzhen Composite falling 0.1%. Over in Hong Kong the Hang Seng is faring better as it rises 0.3% on a recovery in the tech sector. South Korea’s Kospi is leading gains for the region as it advances 1.6% higher, and in Taiwan the Taiex is adding 0.7%. Southeast Asian markets are a bit mixed, with the KLCI in Malaysia trading 0.7% higher and Singapore’s Straits Times Index modestly higher by 0.2%, while the Jakarta Composite in Indonesia is trading 0.2% lower.
The Inflation Trade Is Finally On For Gold
2021-11-11 20:37UTC
The price of gold added another 0.7% yesterday, climbing above $1,860 an ounce as the narrative around the precious metal and inflation hedge has shifted following the latest release of hot U.S. inflation. Earlier this week the U.S. reported the Consumer Price Index jumped 6.2% in October, which is the fastest pace of growth in consumer prices in over 30 years. Previously markets were taking strong CPI figures to mean the Fed would start raising interest rates sooner, which was bearish for gold. Now they are taking the strong CPI data with a good dose of fear and disbelief. That’s been bullish for gold. Bullishness for gold is being supported by two additional key drivers. The first is the fact that the Federal Reserve tapering announcement is now history. And the second is the narrative of the Fed looking to reach full employment while waiting out rising inflation. This is buying some time for the Fed, but it’s also had the effect of falling confidence in the Fed decisions. Basically the risk of the Fed getting behind the curve is rising sharply, and markets are becoming fearful. Gold has been waiting on the sidelines for the inflation trade to hit since August 2020, and now it looks like the inflation trade has finally arrived. Also helping gold at this point is the fact that it is relatively inexpensive as an inflation hedge compared with alternatives like Bitcoin. It remains to be seen which is better as a hedge long-term. It’s not certain how long the current rally in gold might last, as rising real interest rates could cut the current rally short.
U.S. Daily Market Review
2021-11-11 13:32UTC
U.S. stocks rallied today after solid inflation data and rising bond yields stimulated a sell-off in technology stocks yesterday.The S&P-500 added 0.3%. The tech-heavy Nasdaq Composite inclined 0.9%. Tesla shares soared little more than 1%after CEO Elon Musk sold about $5 billion worth of shares this week.Disney shares tumbled 8% after the company came below the top and bottom lines of its quarterly results. The USD advanced to 16-month highs versus the main pairs.U.S. consumer prices jumped last month at their fastest annual rate since 1990.In fact, American consumers are hit by with the fastest price advances of the last decade, with the costs increasing on a nation scale.Amazon supported electric-vehicle maker Rivian Automotive Inc soared almost 5, further contributing to almost 30% gain on its trading debut.
European Daily Market Review
2021-11-11 09:06UTC
European leading stocks markets are still without a major pattern, but are partly into a falling path.Global markets focused on the latest U.S. inflation data which showed faster-than-expected price advances.The German DAX slipped 0.14%, the French CAC-40 added 0.10% and the British FTSE-100 inclined 0.36%.The GBP fell to its weakest level of 2021 versus the USD. The British economy appeared to move to a lower gear and a surge in U.S. inflation stimulated the USD. Reported numbers from the Office for National Statistics demonstrated that Britain’s economy soared by 0.6% in September.European bond markets expect the European Central Bank to raise its rate hike as early as next year.Britain's economic regained its ground from the coronavirus pandemic.Gross domestic product gained 1.3%, the lowest of the quarter surge since the U.K. was under lockdown in early 2021. 
Gold Prices Fell
2021-11-11 08:04UTC
Gold prices tumbled today, retreating from a five-month high. This is taking place as the USD advanced.Moreover, historical levels of U.S. inflation, made the precious metals to reach a five-month high during the previous session.Now, the yellow metal trades at $1856.08, which is an addition of $7.20 or 0.39% from the previous close of 1848.89.The daily trading range is from 1843.00 to 1858.24.U.S. data stated yesterday, demonstrated that the consumer price index (CPI) rallied 6.2% year-on-year and 0.9% month-on-month in October.On the U.S. job markets front, the initial jobless claims sunk to 267,000 over the past week, the lowest level since mid-March 2022. Meanwhile, silver surged 0.34%, platinum jumped 1.03%. 
Asian Daily Market Review
2021-11-11 02:29UTC
Asian markets are mixed on Thursday morning, with several markets trading off their lows. The volatility is coming after U.S. data released overnight showed consumer inflation rising at its fastest pace in over 30 years in the U.S. Wall Street finished the day lower for a second consecutive session, while the U.S. dollar rallied strongly in response to a sharp uptick in Treasury yields. Japan’s Nikkei has recovered from an early loss to trade 0.6% higher, with a drop in the Yen versus the USD helping lift shares of Japan’s exporters. Shares of Softbank Group are trading 0.3% lower, while Sony shares are edging up by less than 0.1%. Among the major exporters Toyota is 1.3% higher, Panasonic is rising 0.8%, and Canon also has a 0.8% advance. In Australia the S&P/ASX 200 is leading losses for the region with a loss of 0.9% after Australian employment data was far worse than expected. Shares of the big four banks are contributing to the broader weakness, with ANZ down 0.2%, NAB losing 1.9%, Commonwealth Bank falling 1.8%, while Westpac shares are flat with a slight gain of less than 0.1%. Mainland Chinese markets are higher at the open, with the benchmark Shanghai Composite rising 0.5% and the smaller cap Shenzhen Composite adding 0.8%. Over in Hong Kong the Hang Seng has a gain of 0.2%. South Korea’s Kospi is 0.4% lower today, and in Taiwan the Taiex is losing 0.5%. Southeast Asian markets are little changed, but lower too, with Singapore’s Straits Times Index falling 0.3%, while the KLCI in Malaysia and the Jakarta Composite in Indonesia are edging lower by less than 0.1%.
U.S. Daily Market Review
2021-11-10 14:15UTC
Wall Street retreated some ground mid rising consumer prices boosted issues over of a bigger than predicted wave of heightened inflation.The S&P-500 added 25 new 52-week highs and 3 new bottoms. Dow Jones Industrial Average futures lost around 60 points, or 0.2%. The S&P-500 futures dipped 0.3% and Nasdaq 100 futures slipped 0.6%.The U.S. government announced $165 billion budget deficit for October, 42% lower than the $284 billion shortfall a versus last year.The October deficit was $14 billion below the median estimate among economists polled by Reuters of $179 billion.U.S. equity futures retreated amid renewed inflation issues after October’s consumer price reading jumped.The consumer price index rallied 6.2% from a year ago, coming over above the 5.9% forecast. The 10-year Treasury yield advanced after the report. Data from the Labor Department showed initial claims for state unemployment benefits declined 4,000 to a seasonally adjusted 267,000 last week.
The USD Is Into A Recovery
2021-11-10 14:01UTC
The USD advanced earlier today, with producer price inflation data in both the U.S. and China weighing on risk sentiment.Presently, the USD versus the Euro trades at 0.864 EUR, which is a further rise of 0.0020 or 0.23% from the previous close of 0.8624. The daily trading range is from 0.8622 to 0.8667. The safe havens, such as the USD has  been stimulated from a bout of risk aversion.Multiple market analysts predict the headline October CPI index to advance to 0.4% on the month, which is a gain of 0.2% in the previous month.The Federal Reserve insisted at its recent policy-setting meeting that raising rates is still not at the agenda.
European Daily Market Review
2021-11-10 07:45UTC
European stocks are slightly lower today as the market are focused on the next key reading of U.S. inflation data.The German DAX slipped 0.04%, the French CAC-40 lost 0.06% and the British FTSE-100 declined 0.36%.European reports are coming later today from Credit Agricole, Engie, Alstom, EDF, Allianz, Continental.Turkey's unemployment rate sunk to 11.5% in September, from 11.8% versus last month.On a seasonally adjusted measure of labor unemployment jumped to 21.9% from 21.7%, according to data released on Wednesday.    Euro zone bond yields advanced today as markets awaited the October U.S. inflation report.The report is coming out at 1330 GMT, and is likely to demonstrated that consumer prices soared 5.8% year-on-year in October, according to a Reuters poll.European natural gas prices dropped its weakest mark of the last week as Russia is gradually delivering a surge in supplies that President Vladimir Putin promised.  
Crude Oil Prices Advanced
2021-11-10 07:37UTC
Crude oil prices advanced this morning during the Asian hours, adding to the rising path. Travel demand is also rallying as COVID-19 curbs ease.Now, oil trades at $84.307, which is a minir retreat of $0.193 or 0.23% from the previous close of 84.500. The daily trading range is from $84.130 to 84.952, while the trading volume is 22.993K.Brent oil futures soared 0.39% to $85.10 by 12:15 AM ET.Moreover, U.S. crude oil supply data from the American Petroleum Institute (API) indicated in a 2.5 million barrels for the week to Nov. 5. The markers are now focused on the crude oil supply data, coming from the U.S. Energy Information Administration (EIA), coming out later today.
Asian Daily Market Review
2021-11-10 02:27UTC
Most Asian markets are trading lower on Tuesday morning after Wall Street ended its winning streak overnight, and with Chinese economic data highlighting the risk of inflation to the global economy. The Chinese data is showing factory gate prices at their highest level in 26 years, with consumer price inflation also topping expectations. Japan’s Nikkei is edging lower by 0.2% as the Yen is pausing in its four session advance versus the U.S. dollar. Shares of Softbank Group are falling 4.4% after the massive run-up seen in the prior session, and shares of Sony are inching lower by 0.1%. Among the major exporters Toyota shares are adding 0.7%, Panasonic is gaining 1%, and Canon shares are slightly lower by less than 0.1%. In Australia the S&P/ASX 200 is up 0.2%, with help coming from the big four banks. Shares of NAB are climbing 4.6% higher, and Westpac is advancing 2.1%, while ANZ and Commonwealth Bank are each adding 0.6%. Meanwhile the major miners are pressuring the index as BHP loses 2.1% and Rio Tinto falls 1.1%. Mainland Chinese markets have opened lower in response to the inflation data, with the benchmark Shanghai Composite losing 0.8%, while the smaller cap Shenzhen Composite trades 0.6% lower. Over in Hong Kong the Hang Seng is trading just slightly lower by 0.1%. In South Korea the Kospi has lost 0.7%, and in Taiwan the Taiex is edging lower by less than 0.1%. Southeast Asian markets are mixed today, with the Straits Times Index in Singapore falling 0.6% and the KLCI in Malaysia giving up 0.2%, while in Indonesia the Jakarta Composite trades 0.1% higher.
What's In Store From Disney Earnings?
2021-11-09 21:50UTC
Media giant Disney will report on its fiscal fourth quarter financial results on Wednesday, and there are some mixed thoughts over what will be reported, and what the future might hold for the House of Mouse. Analysts do expect a profit of $0.44 a share this quarter, which is a huge improvement over the rare loss reported by Disney in the same quarter a year ago. Plus, revenues are expected to rise 10% to $16.29 billion. However that is well below the $19.1 billion in revenues racked up in the fiscal fourth quarter two years ago – before the COVID pandemic began. All that good news is thanks to the reopening that allowed Disney to begin releasing movies again, start sailing its cruise ships, and increase the capacity of its theme parks. However Disney shares haven’t begun to react to the possibility of good news, with shares remaining down just over 3% since the start of the year. One huge question mark heading into the earnings report will be the performance of the Disney+ streaming media service. Launched just as the COVID pandemic crushed Disney’s parks, movies, sports, and cruise businesses, Disney+ grew at an amazing pace and helped keep the company alive during the pandemic downturn. However now that people are getting back out of their homes, and away from their televisions, there is some question regarding the growth trajectory of Disney+. Some analysts feel that the growth has slowed dramatically, which could weigh on shares. On a more positive note it does look like things are improving for the theme parks going forward, and solid forward guidance from management could be the most important part of tomorrow’s earnings report.
U.S. Daily Market Review
2021-11-09 13:19UTC
U.S. stock futures fluctuated early trading Tuesday after the major averages closed at records marks.Dow Jones Industrial Average fell 75 points, or 0.2%. The S&P-500 futures traded in mildly negative territory and Nasdaq 100 futures edged up 0.1%.Shares of GE surged after the industrial company reported that it will split into three public companies.A massive $1 trillion U.S. infrastructure bill is expected to boost the economy.The U.S. government will purchase $1 billion worth of the COVID-19 pill made by Merck & Co Inc (MRK.N) and partner Ridgeback Biotherapeutics.The Labor Department reported that U.S. producer prices jumped largely October. This implies in solid inflation figures.Tesla Inc shares soared almost 1.5%. This is a recovery from a nearly 5% loss from yesterday. This took place after Elon Musk’s Twitter poll proposing to sell a tenth of his holdings garnered a 57.9% vote in favor of the sale.
European Daily Market Review
2021-11-09 10:23UTC
European stocks are without a solid market direction just ahead of a key reading of U.S. inflation data.The German DAX gained 0.25%, the French CAC-40 inclined 0.13% and the British FTSE-100 gained 0.12%.The pan-European Stoxx-600 shifted around the flatline in early trade, with autos gaining 0.8%.Euro zone bond yields retreated earlier this morning.The German 10-year yield had its biggest weekly decline since 2012 last week.German and French trade data for September are coming out later today along with the results of Germany’s ZEW survey of economic sentiment for November.The euro preserved its steady pattern versus the USD. In fact, the common curency moves around $1.1587, unchanged on the day.Britain’s food price inflation could surge over 5% in the next year amid rising energy, commodity and labor costs, as reported from the Associated British Foods Plc. Investor sentiment in Germany advanced unexpectedly rose in November amid estimates that price pressures will ease at the start of next year.     
Gold Prices Retreated
2021-11-09 07:28UTC
Gold prices fell this morning during the Asian hours but are still around a two-monthly peak.Now, the precious metal trades at $1823.16, which is a further loss of $0.33 or 0.02% from the previous close of 1823.49.The daily trading range is from $1819.05 to1827.15, while the trading volume is 74.66K.The falling rate of the USD, alongside the Fed indicating in that inflation will be temporary and that interest rate hikes are not likely to take place in the very short-term.The USD, which in general is into a negative relationship to gold, dropped and is still close to the previous session’s lows.Russia provided 256.54 tons of gold between January and September, a solid rise from 253.77 tons it produced in the same period in 2020.In the meantime, silver slipped 0.1% and platinum declined 0.4%. 
Asian Daily Market Review
2021-11-09 03:01UTC
Asian markets have opened mixed following another overnight record for major Wall Street indices. Several markets are little changed however, as investors are taking a cautious approach ahead of speeches by the heads of the U.S., U.K., and Canadian central banks tomorrow. In Japan the Nikkei is unchanged, despite the Yen firming against the U.S. dollar for a fourth consecutive session. Shares of Softbank Group are rocketing higher by 9.8% after announcing a plan to buy back 1 trillion Yen ($8.83 billion) worth of its own shares. Meanwhile shares of Sony are slightly lower by 0.1%. Among the major exporters Toyota is trading 0.4% lower, Panasonic is trading 0.4% higher, and Canon shares are falling 0.8%. Australia’s S&P/ASX 200 is trading back and forth over unchanged levels and is currently up less than 0.1% as the big four banks weigh heavily on the index. Shares of ANZ are down 1.4%, NAB has a 2.2% loss, Commonwealth Bank  is falling 0.8%, and Westpac has a 0.7% loss. Meanwhile the major miners are offsetting losses somewhat as BHP adds 1%, while Rio Tinto edges higher by 0.1%. Mainland Chinese markets have opened to losses, with the benchmark Shanghai Composite losing 0.2% and the smaller cap Shenzhen Composite edging lower by 0.1%. Over in Hing Kong the Hang Seng is taking its own course and is rising 0.2%. In South Korea the Kospi is inching lower by less than 0.1%, while Taiwan’s Taiex leads gains for the region with a 0.8% advance. Southeast Asian markets are also mixed, with the KLCI in Malaysia 0.5% lower and the Straits Times in Singapore slightly lower by less than 0.1%, while Indonesia’s Jakarta Composite adds 0.2%.
Tesla Shares Fall As Musk Set To Sell $21 Billion In Shares
2021-11-08 21:58UTC
Shares of Tesla fell 4.8% yesterday as investors dumped shares in response to the weekend news that Tesla’s founder and CEO Elon Musk is considering selling 10% of his Tesla shares, worth roughly $21 billion, in order to pay off a $15 billion tax bill. While shares fell yesterday, that might actually be an opportunity to get into the stock at a lower price. After all, the sale of $21 billion worth of stock may sound like a lot, but not when compared with the better than $1.1 trillion market cap that Tesla enjoys after its rally of the past two weeks. In looking at the past two weeks we can see that Tesla shares have been parabolic in gains, adding nearly $400 billion in the space of just 12 trading sessions. That not only took the market cap of Tesla above $1 trillion for the first time ever, it is also the strongest rally ever seen in an equity on a market capitalization basis. An interesting twist to the story is that Musk left the decision on whether or not to sell up to his Twitter followers. He created a poll asking if he should sell and 57.9% of the respondents voted “yes”. While that might seem like a crazy way to decide on a $21 billion stock sale, it is completely in-line with Musk’s personality. Many analysts have weighed in on the selling yesterday, and the majority agree that this spate of selling will be short-lived. They feel that once the weak hands are taken out the rally in Tesla shares will resume.
U.S. Daily Market Review
2021-11-08 20:41UTC
Wall Street stocks soared as most traders and investors cheered the passage of a U.S. infrastructure spending bill.Tesla Inc dropped 3.1%, the heaviest weight on the S&P 500. The Dow Jones Industrial Average inclined 59.83 points, or 0.16%, to 36,387.78. The S&P-500 added 5.3 points, or 0.11%, to 4,702.83 and the Nasdaq Composite gained 40.95 points, or 0.26%, to 16,012.54.The White House administration could potentially shut down a segment of the Line 5 oil and gas pipeline that serves the Midwest, as reported by White House spokeswoman Karine Jean-Pierre.The USD retreated some ground today after jumping to 15-month highs on  Friday following great U.S. jobs data.Meanwhile, on Wednesday the Fed had confirmed its verdict that the current high inflation could be transitory and would launch trimming its massive bond-buying program this month.
European Daily Market Review
2021-11-08 14:45UTC
The major European stocks are still without a solid position, lacking clear direction.The German DAX added 0.36%, the French CAC-40 inclined 0.36% and the British FTSE-100 secured 0.08%.The pan-European Stoxx-600 moved around the flatline by mid-afternoon, with autos falling 0.9%.Siemens Gamesa gained 8% after its full-year results, while Darktrace jumped more than 11%.Sales of new cars in Russia dropped for fourth consecutive month in October. This represents a loss of 18.1% on annual basis. In fact, 126,204 units after a decline of 22.6% in the previous month, as reported by the Association of European Businesses (AEB) said on Monday. 
Crude Oil Prices Rallied
2021-11-08 07:52UTC
Crude oil prices surged this morning being stimulated by positive signals for global economic growth.Meanwhile, Saudi Arabia's state-owned company Aramco (SE:2222) raised the official selling price for its crude.Now, oil trades at $82.206, which is a rise of $0.869 or 1.07% from the previous close of 81.337. The daily trading range is from $81.010 to 82.447, while the trading volume is 27.511K.Furthermore, Brent crude gained 84 cents or 1% at $83.58 a barrel by 0609 GMT.The U.S. congress passed a long-delayed $1 trillion infrastructure bill. This is very likely to result in higher growth and massive fuel consumption.In addition, demand for jet fuel is into a higher mode as more governments make air travel easier with reduced restrictions for coronavirus. The Organization of the Petroleum Exporting Countries and allies such as Russia, known as OPEC+, indicated that will extend its plan to raise oil output by 400,000 barrels per day from December.
Asian Daily Market Review
2021-11-08 02:46UTC
Asian markets have gotten the week off on poor footing, with most major indices falling in early trade. Over the weekend Chinese export data came in stronger than expected, showing a surge of 27.1% in October versus the same month last year. Traders are also reacting to a 1.5% jump in the price of crude oil to start the week. In Japan the Nikkei is modestly lower by 0.2% as a weaker Yen is helping support shares of Japan’s export sector. Softbank Group is trading 0.6% lower, and Sony shares are lower by 1%. Among the major exporters Toyota is edging higher by 0.1%, while Panasonic shares are down 0.7% and Canon is flat with a slight loss of less than 0.1%. Australia’s S&P/ASX 200 is also 0.2% lower, despite gains from the commodity sector. Shares of the big four banks are also trying to support the broader market, with ANZ trading 0.3% higher, NAB adding 0.2%, and Westpac up 0.9%, while Commonwealth bank shares are falling 0.3%. Among the major miners BHP is rising 1% and Rio Tinto is advancing 0.8%. Mainland Chinese markets opened lower, but quickly recovered in response to the October export data. In early trade the benchmark Shanghai Composite is trading 0.2% higher, while the smaller cap Shenzhen Composite is adding 0.1%. Over in Hong Kong the Hang Seng trades 0.2% lower. In South Korea the Kospi is leading losses for the region with a drop of 1%, but in Taiwan the taiex is trading 0.4% higher. Southeast Asian markets are broadly higher as the Straits Times in Singapore rises 0.6%, and the KLCI in Malaysia and Jakarta Composite in Indonesia each add 0.2%.
USD Index Hits 1-Year High
2021-11-05 20:44UTC
The U.S. dollar rallied to a more than one year high yesterday after data showed the U.S. economy added more jobs than expected in October. The positive results come after two disappointing months of job growth. Strong job growth is one of the two criteria of the Federal Reserve in order to begin raising interest rates. Non-farm payrolls showed an increase of 531,000 jobs in the U.S. in October versus expectations for 385,000 new jobs. The increase was chalked up to the decline in COVID-19 cases in the U.S. in October. Markets took the rise in employment to mean the recovery in the U.S. economy remains on track. At least one analyst said that if employment continues rising at that same pace the U.S. could see full employment by the end of the first quarter of 2022. That would open the door for the Federal Reserve to begin raising interest rates since the other condition, inflation over 2%, has already been easily met. The USD Index, which is a measure of the U.S. dollar against a basket of six other major currencies, traded as high as 94.634 before pulling back slightly heading into the close. That’s the highest level for the USD index since September 2020. Giving the rise in the U.S. dollar extra impetus is the fact that several of the world’s major central banks have knocked back expectations for rate hikes over the past week. Both the Bank of England and the Reserve Bank of Australia have struck more dovish tones than expected. The European Central Bank maintains that it is unlikely to consider rate hikes until 2023 at the earliest.
The USD Is Into A Higher Mode
2021-11-05 15:38UTC
The USD jumped more-than one-year peak today after data showed the US economy added for more jobs than forecasts in October.Presently, the USD versus the Euro trades at 0.865 EUR, which is an incline of 0.0001 or 0.01% from the previous close of 0.8652.The daily trading range is from 0.8650 to 0.8683.The economy is coming closer to full employment.Nonfarm payrolls soared by 531,000 jobs last month as the surge in COVID-19 infections.The USD index jumped to 94.634 after the jobs report, its highest level since September of 2020. On Wednesday, Fed’s Chair Jerome Powell stated that is not stimulated to follow rising borrowing costs, even as the Federal Open Market Committee announced a $15 billion monthly tapering of its $120 billion in monthly asset purchases.
U.S. Daily Market Review
2021-11-05 15:22UTC
The leading U.S. stocks and indexes soared to record levels on Friday after the October jobs report marked greater than predicted.The Dow Jones Industrial Average added 340 points. The S&P-500 secured 0.8%, on pace for its seventh straight positive day. The Nasdaq Composite rallied 0.7%. A breaking news is coming from Pfizer regarding a Covid-19 pill. Pfizer Inc surged 9.3% after the company’s experimental antiviral pill for COVID-19 reduced by 89% the chances of hospitalization or death possibility.United Airlines and American Airlines surged more than 6%.U.S. employment jumped more than forecasts in October as the headwind from the rising COVID-19 infections over the summer subsided.Nonfarm payrolls increased by 531,000 jobs last month, as reported by the Labor Department.
European Daily Market Review
2021-11-05 09:04UTC
European markets partly moved this morning as investors assess corporate earnings reports from the central banks.The German DAX slipped 0.08%, the French CAC-40 gained 0.27% and the British FTSE-100 surged 0.45%.The pan-European Stoxx-600 hovered fractionally above the flatline in early trade.The Bank of England preserved its interest rates at historic lows levels.British Airways parent IAG, Germany’s Uniper and Spain’s Amadeus were among the companies reporting earnings before the start of the session this morning.Deutsche Telekom stated this morning a joint venture with Australian investor IFM, which will purchase a 50% stake in the German telecommunications giant. 
Gold Prices Advanced
2021-11-05 07:59UTC
Gold prices jumped this morning during the Asian hours and were about to mark a weekly surge.Now, the yellow metal trades at $1796.69, which is another addition of $5.09 or 0.28% from the previous close of 1791.60.The daily trading range is from $1790.00 to 1798.29, while the trading volume is 58.946K.Investors also digested recent policy reports from the Bank of England (BOE) and U.S. Federal Reserve.The BOE preserved its interest rate steady at 0.10% as it handed down its decision on Thursday. Meanwhile, the Fed announced that will begin asset tapering, but for now expects to preserve the same interest rates.Benchmark U.S. 10-year Treasury yields tumbled from a one-week peak.Meanwhile, weaker than predicted 269,000 initial jobless claims were filed during the past week.
Asian Daily Market Review
2021-11-05 01:53UTC
Asian markets are trading mixed on Friday following another record setting session on Wall Street as the S&P 500 notched a sixth consecutive winning session. The Nasdaq also hit a new all time high, while the Dow Industrials lagged and slipped slightly lower. In Japan the Nikkei is trading 0.5% lower as the Yen firms versus the U.S. dollar. Shares of Softbank Group are trading 1% lower, but Sony shares are edging higher by less than 0.1%. Among the major exporters Toyota is falling 1%, Panasonic is losing 1.1%, and Canon shares are trading down by 0.9%. Australia’s S&P/ASX 200 is rising 0.6%, with the big four banks providing support for the broader market. Shares of ANZ are edging up by 0.2%, NAB is rallying 1.2% higher, Commonwealth Bank is adding 0.9%, and Westpac is inching up by less than 0.1%. The major miners are also supporting the broader market, with BHP advancing 0.8%, iron giant Fortescue Metals adding 1%, and Rio Tinto rising 1.7%. Mainland Chinese markets are starting the day with modest weakness as the benchmark Shanghai Composite falls 0.3% and the smaller cap Shenzhen Composite is losing 0.1%. Over in Hong Kong the Hang Seng is underperforming massively, losing 1.3% to lead losses across the region. In South Korea the Kospi has a loss of 0.7%, while Taiwan’s Taiex is trading 0.5% higher. Southeast Asian markets are showing broad gains, with Singapore’s Straits Times Index leading gains for the region as it tacks on 0.8%, while Malaysia’s KLCI is edging higher by less than 0.1%, and in Indonesia the Jakarta Composite is trading flat at the open.
U.S. Daily Market Review
2021-11-04 21:57UTC
The S&P-500 advanced for sixth day in a row on Thursday as investors tas the market is focused on the Federal Reserve’s waiting approach on raising interest rates. The Dow Jones Industrial Average dropped 33.35 points, or 0.09%, to 36,124.23.The Nasdaq Composite secured 128.72 points, or 0.81%, to 15,940.31. The broad equity benchmark inclined0.4% to rally to another record close of 4,680.06. Qualcomm soared almost 13%  following higher than predicted earnings resulted by a jump of 56% surge in smartphone chip sales. The  USD appreciated as investors reset monetary policy estimates after the Federal Reserve repeated it saw high inflation as transitory.The Fed yesterday reported a $15 billion monthly reduction to its $120 billion in monthly asset purchases.
Gold Is Eyeing $1,800 Once Again
2021-11-04 21:37UTC
Gold is eyeing the $1,800 level once again as it jumped 1.7% higher yesterday following news of the Fed pledging to remain “patient” when considering raising interest rates. The jump higher on Thursday comes after gold slipped to a three-week low in the prior session in reaction to the Fed’s taper timeline, the planned dates for tapering its bond purchase program. Apparently the market is taking some comfort from the fact that there was no strong signal from the Fed in regards to future interest rate hikes. Also helping out was the Bank of England as they kept interest rates on hold at the conclusion of their monetary policy meeting on Thursday. Some analysts believed that the BoE would be the first major central bank to raise interest rates as the COVID pandemic wanes, but those beliefs were dashed as the BoE remained on hold. There had been some nervousness in the gold market ahead of the BoE monetary policy statement, so yesterday’s gains might be considered as something of a relief rally. The lack of tightening by the U.K. central bank likely added some bids to the market. As interest rates remain ultra-low gold continues to hold some appeal for conservative investors since there’s currently little to no opportunity cost for holding non-yielding assets like gold. In addition, the rising global inflation is a tailwind for gold in the coming months. With global central banks now considering interest rate hikes gold could lose its shine in 2022, but for the time being the precious metal still looks attractive as a hedge against inflation, and as a safe haven from market risks and uncertainties.
European Daily Market Review
2021-11-04 11:24UTC
European stocks advanced today as global markets reacted to the U.S. Federal Reserve’s report that it will start to taper its bond-buying program.The German DAX secured 0.54%, the French CAC-40 gained 0.41% and the British FTSE-100 inclined 0.03%.The pan-European Stoxx-600 inclined 0.5% by late morning, with oil and gas gaining 1.5% to lead the rising path.Credit Suisse came above predictions for the third quarter. The Swiss bank also stated that predicts to report a net loss in the final quarter of 2021.Euro zone business activity jumped at its lowest rate of the last six months in October.Government restrictions are removed in the currency bloc amid lack of raw materials in the manufacturing sector are impacting growth rates of the economy. 
Crude Oil Prices Tumbled
2021-11-04 09:01UTC
Oil prices retreated this morning during the Asian hours. Now, oil trades at $81.801, which is a rise of $1.731 or 2.16% from the previous close of 80.070.The daily trading range is from $79.729 to 81.850, while the trading volume is 42.078K.Moreover, oil prices added to the falling path after Iran and world powers agreed to resume nuclear talks later in the month.Yesterday’s U.S. crude oil supply data from the U.S. Energy Information Administration implied in higher-than predicted build of 3.291 million barrels for the week to Oct. 29. Crude oil supply data from the American Petroleum Institute indicated in a build of 3.594 million barrels.In the meantime, the Organization of the Petroleum Exporting Countries and its allies, or OPEC+ is meeting later today.In fact, OPEC is likely to stick to its plan of steady monthly supply increases steady, despite higher demands for an acceleration.
Asian Daily Market Review
2021-11-04 02:21UTC
Asian markets are trading mostly higher on Thursday morning following another record-setting session on Wall Street overnight. As expected the U.S. Federal Reserve unveiled their tapering plan for bond purchases, which will begin at the end of this month. They also said they would be patient on raising interest rates, and the U.S. dollar has remained steady following the monetary policy statement. Japan’s Nikkei is trading 1% higher as the Yen is remaining above the 114.00 level versus the U.S. dollar. Shares of Softbank Group are 0.3% higher, and conversely shares of Sony are 0.3% lower. Among the major exporters Toyota is adding 0.5%, Canon is adding 1.5%, and Panasonic shares are surging higher by 5.6%. In Australia the S&P/ASX 200 is trading modestly higher by 0.2%, with the big four banks mixed. Shares of ANZ are 0.7% higher, while NAB shares are trading 0.3% lower. Meanwhile Commonwealth Bank shares are adding 0.8%, and Westpac is edging slightly higher by less than 0.1%. The major miners are mixed as well, with BHP rising 0.5%, but Rio Tinto falling 1.1%. Mainland Chinese markets have opened to solid gains, with the benchmark Shanghai Composite adding 0.4%, while the smaller cap Shenzhen Composite advances 0.8%. Meanwhile over in Hong Kong the Hang Seng is adding to its solid gains from the previous session with a gain of 0.6% today. In South Korea the Kospi is up by 1%, while the Taiex in Taiwan is flat. Southeast Asian markets are weak today however, with the Straits Times Index in Singapore and the KLCU in Malaysia both falling 0.4%.
Activision Suffers Worst Day In 13 Years
2021-11-03 20:37UTC
Shares of Activision led losers yesterday in the U.S. as they plunged 14.1% lower following news of launch delays and a weaker than expected fourth quarter guidance. It was the worst one day loss for Activision shares since November 2008. That could mean shares are bargain priced now, or it could also mean more downside is coming for investors. Read on to decide which it might be in your mind. The bad news came as part of the game makers’ third quarter earnings release, which wasn’t too bad in itself. Activision posted revenue of $2.07 billion and earnings of $639 million. That was in-line with analyst estimates for revenue and 3.5% higher than profit expectations. Normally this would have been good enough to at least keep shares flat, if not modestly higher. However the company also said that both Diablo IV and Overwatch 2, two of Activisions top franchises, would be delayed. The company did not have a launch date for either title. And in addition to that bad news management also guided lower for the fourth quarter, adding insult to injury in the minds of investors. Activision has already been under pressure due to allegations of sexual discrimination and harassment, and has been trying to do its best in damage control efforts. The allegations are also further harming Activision in terms of its workers, as it’s not only struggled to attract the right talent, it has also been forced to terminate a number of employees, including over 20 that were let go in connection with the sexual discrimination and harassment allegations. Following the disappointing news a number of analysts downgraded the stock and slashed price targets on the stock.
U.S. Daily Market Review
2021-11-03 16:11UTC
The Dow Jones Industrial Average partly retreated from its record on Wednesday as investors awaited a decision from the Federal Reserve on its move to start withdrawing the support it has been providing.The Dow lost 70 points, dragged down by Amgen and Chevron. The S&P-500 dropped 0.1%. The Nasdaq Composite gained 0.2% after hitting an intraday record shortly after the open. The small-cap benchmark Russell 2000 soared little more than 1.2% to a new intraday high.Wednesday’s ADP report indicated in that private job creation advanced in October.T-Mobile US soared almost 6% after the U.S. wireless carrier came above third-quarter forecasts.New orders for U.S.-made goods unexpectedly jumped in September.The Commerce Department stated on Wednesday that factory orders increased 0.2% in September.
European Daily Market Review
2021-11-03 07:49UTC
The leading European stock markets are without a clear direction today as investors prepared for the latest comment and monetary policy decision from the U.S. Federal Reserve.The German DAX fell 0.02%, the French CAC-40 added 0.16% and the British FTSE-100 lost 0.41%.European Central Bank ECB’s chief Christine Lagarde stated that a rate surge next year is not expected to take place as inflation is still too low.The pan-European Stoxx-600 shifted around the flatline by late morning.At the bottom of the European blue chip index, Vestas Wind Systems dropped more than 14% after coming below third-quarter earnings forecasts.Ireland’s unemployment rate sunk to 7.9% in October from a revised 8.9% in September, as reported by the Central Statistics Office.The COVID-19 adjusted unemployment rate jumped to a high mark of 31.5% last year.  
Gold Prices Retreated
2021-11-03 07:11UTC
Gold prices dropped this morning during the Asian hours, with the focus squarely on the latest U.S. Federal Reserve policy decision. Presently, gold trades at $1780.79, which is a decline of $5.83 or 0.33% from the previous close of 1786.62.The daily trading range is from $1778.13 to 1788.14, while the trading volume is 46.554K.The Fed will report its decision later in the day, where it is likely to reveal its asset tapering timeline. The central bank is likely to begin paring its monthly asset purchases by $15 billion each month until ending them by mid next year.The Bank of England will also hand down its decision on Thursday.In Japan, policymakers on Tuesday reaffirmed the Bank of Japan (BOJ)'s commitment to its 2% inflation target in a meeting between BOJ governor Haruhiko Kuroda.In the meantime, silver slipped 0.2%. Palladium secured 0.4%. 
Asian Daily Market Review
2021-11-03 01:46UTC
Asian markets are trading mostly lower on Wednesday despite the overnight records set on Wall Street, and the strong rally in Australia, where a dovish Reserve Bank of Australia has aided investor sentiment by removing its yield cap, while also stating it believes inflation remains too low. In Japan the Yen is firming versus the U.S. dollar, and the Nikkei is trading 0.4% lower. Shares of Softbank Group are trading 0.2% lower, which is being offset by a 0.2% gain for Sony. Among the major exporters Toyota is edging lower by 0.1%, while Canon is gaining 1% and Panasonic shares are plunging 4.7% lower. Australia’s S&P/ASX 200 is leading gains for the region, trading higher by 1.4% as a dovish statement from the Reserve Bank of Australia has caused the Australian dollar to drop sharply. Shares of the big four banks are rallying strongly after the RBA removed their yield cap and RBA governor Philip Lowe said interest rates could begin rising as early as 2023. Shares of ANZ are 2.2% higher, NAB is adding 1.9%, Commonwealth Bank is advancing 1.3%, and Westpac is up 1.1%. Mainland Chinese markets have opened to slight losses, with the benchmark Shanghai Composite losing 0.1%, while the smaller cap Shenzhen Composite inches lower by less than 0.1%. Over in Hong Kong the Hang Seng is pacing losses from the mainland and trading lower by 0.2%. In South Korea the Kospi is 0.4% lower, but Taiwan’s Taiex is up by 0.5%. Southeast Asian markets are mixed and little changed as the Straits Times in Singapore is 0.1% lower, but the KLCI in Malaysia is 0.2% higher.
Crude Is Choppy Ahead Of OPEC Meeting
2021-11-02 19:10UTC
Crude futures were mixed in choppy trade yesterday as traders tried to position themselves ahead of the upcoming OPEC meeting this Thursday. It’s expected that OPEC will keep production levels unchanged at the meeting, despite calls for increasing supplies to put a cap on the rise in crude prices that have seen futures gain roughly 60% since the start of the year. Also weighing on sentiment are expectations for the latest U.S. inventory levels. Analysts are expecting U.S. inventory levels as reported by the Energy Information Administration to rise by 1.6 million barrels. Brent crude chopped back and forth to close lower by $0.26, or 0.3%, at $84.46 a barrel. Meanwhile the U.S. benchmark West Texas Intermediate crude was also lower by $0.54, or 0.6%, at $83.52. That leaves crude very near three-year highs. Uncertainty regarding the OPEC decision on Thursday is holding markets back right now, but crude is still in an obvious uptrend. That’s been supported by OPEC’s unwillingness to unwind production cuts put in place to support the market during the COVID pandemic. Oil rose in early trade Tuesday after Reuters reported that October production from OPEC was lower than expected by markets due to some unplanned outages. Analysts are expecting the choppy trade to continue Wednesday and into Thursday until markets get some clarity from OPEC on December production plans, and the timeline for production increases in 2022. However markets may not have to wait for OPEC to increase production. The high price of crude is already encouraging other producers to add to their own output. For example, BP said on Tuesday it will ramp up investments in onshore U.S. shale oil and gas business by 50% in 2022.
U.S. Daily Market Review
2021-11-02 13:59UTC
The S&P-500 advanced to a record peak today just ahead of a key Federal Reserve decision.The Dow Jones Industrial Average added around 135 points to an intraday high. Nasdaq Composite secured 0.1%.Pfizer shares rallied almost 4% after the drug maker’s third-quarter profit came over forecasts. The USD firmed slightly today as the U.S. Federal Reserve kicked off its two-day policy meeting where it could report that it will begin tapering its massive asset purchase program.The USD index, which measures the greenback against a basket of peer currencies, appreciated 0.19% at 94.106.Under Armour shares surged 19% after the athletic retailer hiked its annual outlook.The U.S. residential rental vacancy rate further retreated some side in the third quarter as the economy continued to normalize after severe disruptions caused by the pandemic.The Commerce Department stated that rental vacancy rate dropped to 5.8% last quarter, which is the weakest level since the second quarter of 2020.
European Daily Market Review
2021-11-02 08:26UTC
European stocks lost some today after a strong start to trading of the new month.The German DAX added 0.61%, the French CAC-40 inclined 0.23% and the British FTSE-100 lost 0.60%.The pan-European Stoxx-600 slipped 0.3% in early trade, with mining stocks shedding 2.7% to lead the falling ground.The British energy major announced an underlying replacement cost profit, a proxy for net profit, of $3.3 billion for the third quarter, coming more than the forecasts.Spain has accumulated natural gas reserves for around 40-43 days of consumption, according to the Environment and Energy Minister Teresa Ribera.The Algerian government expressed their readiness to offer more gas to Madrid if the country needed it, also Ribera added.
Gold Prices Retreated
2021-11-02 07:22UTC
Gold prices dropped this morning during the Asian hours, with rising rate of the USD.Now, gold trades at $1795.11, which is a recovery of $2.39 or 0.13% from the previous close of 1792.72. The daily trading range is from $1789.11 to 1796.24, while the trading volume is 52.353K.The markets are focused on the reports from several key central banks, starting in Australia. The Reserve Bank of Australia will announce its policy decision later in the day.The Bank of England will hand down its policy decision on Thursday this week.On the data front, the U.S. Institute of Supply Management (ISM) manufacturing purchasing managers index (PMI), released on Monday, was 60.8 in October. In the meantime, silver slipped 0.2% and platinum fell 0.7%.
Asian Daily Market Review
2021-11-02 01:59UTC
Asian markets are trading mixed on Tuesday morning following another record setting session overnight on Wall Street. Investors across the region seem to be getting cautious ahead of a slate of potential market moving events this week. These include an OPEC meeting, the latest Federal Reserve meeting, which is expected to end with a timeline for tapering in the U.S., and the latest U.S. non-farm payrolls to close out the week. In Japan the Nikkei is trading 0.2% lower, even though a weaker Yen should be supporting shares of Japan’s exporters. Shares of Softbank are trading 0.6% higher, while Sony shares are flat. Among the major exporters Toyota is trading 0.6% lower, Panasonic has a 1% loss, and Canon is adding 0.6%. In Australia the S&P/ASX is trading 0.4% lower as shares of the big four banks weigh on the broader market for the second day this week. Shares of ANZ are trading down by 1%, NAB has a 0.6% loss, Commonwealth Bank is losing 0.7%, and Westpac is underperforming as it slides 2.9% lower. Mainland Chinese markets have opened to gains in a rebound from the previous session. The benchmark Shanghai Composite is 0.2% higher at the open, while the smaller cap Shenzhen Composite is advancing 0.4%. Meanwhile Hong Kong’s Hang Seng is outpacing the region as it’s adding 1.7%. In South Korea the Kospi is also putting in a strong performance as it rises 1.6%, while in Taiwan the Taiex has a 0.6% gain. Southeast Asian markets are seeing gains as well as the Straits Times in Singapore edges higher by less than 0.1% and the KLCI in Malaysia tacks on 0.7%.
U.S. Daily Market Review
2021-11-01 20:11UTC
The main U.S. indexes surged for energy shares and Tesla buoyed indexes.The Dow Jones Industrial Average slipped 36,000 points for the first time ever during intraday trading. The S&P-500 added 0.2% to 4,613.67, closing at an all-time high. Tesla became a $1 trillion company last week, continued its gains for the year with shares added 8.5%. The Federal Reserve could approve plans to scale back its $120 billion monthly bond-buying program.The USD eased versus its main pairs after marking its rally of the last four months in the previous session.The U.S. Treasury announced plans to borrow $1.015 trillion in the fourth quarter.U.S. manufacturing activity moved to a lower gear this month, with all industries reporting record-long lead times for raw materials.
Does AMD Remain Undervalued?
2021-11-01 19:05UTC
Advanced Micro Devices, or AMD for short, had another great earnings beat last week, and that’s powering shares to new record heights as this week kicks off. Shares of AMD rose 2.2% as investors and analysts are raising their expectations for the fourth quarter, despite the ongoing chip shortage. Earnings were up 78% year-over-year, and topped the second quarter results by 16%. While analysts were expecting a strong third quarter from AMD, the $0.73 a share in earnings was 10.6% better than anticipated. Revenues also topped expectations as they rose 54% on a year-over-year basis. Another big help for the stock came from AMD management, who increased their guidance for the rest of 2021 based on the strong growth they are seeing across all their business units. AMD continues to outshine competitor Intel, and that doesn’t look as if it will change anytime soon. Also, the stock is trading at just 8x next years’ sales estimates, which is quite the bargain when you see rival Nvidia’s stock is priced at 21x next years’ sales. While AMD shares are up roughly 20% since the end of September when they were testing the $100 level for support, the stock still looks like a bargain. Sales are increasing, analysts are raising price targets, and AMD just looks like it’s ready to continue rolling all over Intel. And let’s not forget that AMD is doing all this even while fighting the headwinds created by supply constraints. With the holiday shopping season coming AMD could put in another very strong performance in the fourth quarter, as it’s expected that consumer demand for electronics, many of which feature AMD chips, will be extremely strong.
European Daily Market Review
2021-11-01 09:42UTC
European stocks entered into a higher side amid positive note at the start of the week with investors being focused on the developments in high-stakes meetings of global leaders.The pan-European gained 0.6% higher with all sectors in positive territory.The German DAX added 0.94%, the French CAC-40 gained 1.08% and the British FTSE-100 inclined 0.52%.Shares of Barclays bank tumbled 1.2% after the investment bank reproted that CEO Jes Staley will step down following an investigation into his relationship with Jeffrey Epstein. Ryanair's recovery from the Covid-19 crisis is still extending but a heavy loss for the year of 2021.The airline has narrowed losses in the past few months, but warned its annual deficit could reach a whole €200m (£170m).
Crude Oil Prices Dropped
2021-11-01 07:35UTC
Oil prices tumbled today as OPEC+ announced its plan to boost production when it meets this week and China released reserves of diesel and gasoline.Now, oil trades at $82.916, which is a loss of $0.368 or 0.44% from the previous close of 83.284.The daily trading range is from $82.733 to 83.422, while the trading volume is 22.706K.Global benchmark Brent retreated 0.6% in early Asian trade after securing more than 7% last month.Earlier in the weekend, China reported that it would release reserves of the two key fuels to combat shortages, according to a statement from the National Food and Strategic Reserves Administration. Crude has soared this year, with production and supply levels having a hard time as the global economy tries to recovered from COVID crisis.Moreover, OPEC is expected to gather to have an online session on Thursday, and may stick with a planned monthly rally of 400,000 barrels per day.   
Asian Daily Market Review
2021-11-01 01:55UTC
Asian markets have started the week with strength, rising broadly despite China’s manufacturing activity slowing in October for the second month in a row. Investors are also looking ahead to this Wednesday, when the U.S. Federal Reserve will release its latest monetary policy statement. Japan’s Nikkei is leading the charge higher, rising 2.4% as the Yen has gapped lower versus the U.S. dollar at the open. Shares of Softbank Group are trading 2.8% higher, while Sony shares are surging higher by 5.6%. Among the major exporters Toyota is adding 1.6% and Canon is adding 0.4%, but Panasonic is falling 1.3% as it continues to show the same weakness that was seen last week. In Australia the S&P/ASX 200 is trading 0.6% higher even though the big four banks are contributing downside pressure to the broader market. Shares of ANZ are falling 1.4%, NAB has a loss of 0.4%, while shares of Westpac are plunging 6.2% lower. Meanwhile Commonwealth Bank is bucking the falling trend in the banks as it adds 0.6%. The major miners are also weak today, with BHP shares dropping0.7% and Rio Tinto edging lower by less than 0.1%. Mainland Chinese markets have opened lower in response to the poor October manufacturing data, with the benchmark Shanghai Composite falling 0.7% and the smaller cap Shenzhen Composite trading down by 0.3%. Over in Hong Kong the Hang Seng is underperforming with a loss of 1.1%. South Korea’s Kospi is trading 0.5% higher, and in Taiwan the Taiex is advancing 0.6%. Southeast Asian markets are mixed however, with the Straits Times in Singapore rising 0.6%, but Malaysia’s KLCI falling 1.3%.
Pfizer Gets FDA Approval For Kids COVID Vaccines
2021-10-29 22:05UTC
Shares of pharmaceutical giant Pfizer rose 1.3% yesterday after the FDA cleared its coronavirus vaccine for use in children ages 5-11. It is the only vaccine that’s been approved for that age group and distribution could begin as early as next week in the CDC also signs off on the approval. If the CDC approves the vaccine it will mean 28 million kids will be eligible to receive the vaccine. However a poll shows that 30% of parents won’t get the vaccine for their kids, while another 27% say they will get it immediately, highlighting the division in attitudes regarding this COVD vaccine. Many parents have said they are anxious to get their kids vaccinated as schools are fully open across the U.S. and the delta variant of the coronavirus has seen younger kids as more susceptible. In other news Pfizer is also set to report on its third quarter earnings this coming Tuesday. In the past quarter Pfizer was able to beat expectations by 10.3% and some signs do point to another earnings beat for the third quarter. Analysts are expecting earnings of $1.08 a share. Of course sentiment is already positive from the above-mentioned vaccine news as we head into the earnings. Pfizer saw good growth in the sales of its top brands, and that is expected to have continued in the third quarter. Additionally, it is expected to have topped the $7.8 billion in revenue from its COVID-19 vaccine. Historically Pfizer has been able to beat earnings estimates in three of the past four quarters, which is a positive for the stock heading into the third quarter earnings.
U.S. Daily Market Review
2021-10-29 15:57UTC
The U.S. stock market retreated some side as shares of major technology companies lost some side.The tech-heavy Nasdaq Composite declined 0.2%. The S&P-500 slightly dropped, while the Dow Jones Industrial Average secured 80 points. Amazon shares tumbled 3% after the company results came below initial forecasts. The company also issued disappointing guidance for the critical holiday period.Apple stock fell 2.9% after the tech giant’s quarterly revenue came short of the estimates amid higher than predicted supply constraints on iPhones, iPads and Macs. U.S. consumer spending soared largely in September, but was partly flattered by higher prices.U.S. Treasury yields rallied today being stimulated by a surge in employment costs and consumer inflation for September.
European Daily Market Review
2021-10-29 15:48UTC
The major European stock markets closed mixed today.The German DAX fell 0.11%, the French CAC-40 gained 0.30% and the British FTSE-100 lost 0.05%.The pan-European Stoxx-600 inclined 0.06%, with sectors and major bourses pointing in opposite directions. Inflation figures in the euro zone surged 4.1% in October, reaching to a 13-year high.Volvo Cars made its market debut on Friday, with shares securing more than 20% from their offer price. The company marked Europe’s biggest IPO of 2021. Italy’s leading insurance company Generali reported that had secured a stake of 66.67% in Cattolica on the last day of its 1.17 billion euro ($1.36 billion) takeover.Generali has offered 6.75 euros for each Cattolica share.
Crude Oil Prices Surged Again
2021-10-29 06:40UTC
Crude oil prices rallied today but were headed for their first weekly losses of the last two months after U.S. oil stocks advanced more than initial forecasts.Now, oil trades at $82.798, which is a small decline of $0.247 or 0.30% from the previous close of 83.045.The daily trading range is from $82.564 to 83.080, while the trading volume is 20.714K.Iran is taking actions with the super powers, which is expected to results in the removal of the oil sanctions.U.S. oil stocks soared much more than the predictions in the week to Oct. 22, as reported by the Energy Information Administration showed on Wed. The markets are focused on the coming meeting of the Organization of the Petroleum Exporting Countries (OPEC), Russia and their allies, scheduled for on Nov. 4.
Asian Daily Market Review
2021-10-29 01:57UTC
Asian markets have opened broadly lower on Friday morning following earnings misses and poor fourth quarter guidance from both Apple and Amazon. And while that is hitting the tech sector, the broader market is pressured by continued concerns over rising inflation and the potential for central bankers to begin tightening too soon and too much. Japan’s Nikkei is1% lower today, adding to the 1% loss from the prior session. That comes as the Yen has been firming against the U.S. dollar. Shares of Softbank Group are flat with a slight loss of less than 0.1%, while Sony shares are rising 1%. Among the major exporters shares of Toyota are 0.6% lower, Canon shares are down 0.3%, while shares of Panasonic plunge 6.1%. In Australia the S&P/ASX is trading 0.6% lower as the big four banks contribute to broad market weakness. Shares of ANZ are 0.9% lower, NAB is losing 1.4%, Commonwealth Bank is falling 1%, and Westpac is dropping 1% as well. The major miners are also falling, with BHP just modestly lower by 0.1%, while Rio Tinto shares drop 2%. Mainland Chinese markets have opened just slightly higher, with the benchmark Shanghai Composite up less than 0.1% and the smaller cap Shenzhen Composite adding less than 0.1% as well. Meanwhile over in Hong Kong the Hang Seng is taking its own course and falling 0.9%. In South Korea the Kospi is 0.5% lower, and in Taiwan the Taiex is falling 0.5%. Southeast Asian markets are bucking the falling trend for a second day in a row, with the Straits Times in Singapore adding 0.3% and the KLCI in Malaysia trading 0.2% higher.
Ford Shares Surge On Investor Optimism
2021-10-28 19:51UTC
Not so very long ago many investors took the legacy auto industry as a dying dinosaur unable to compete in a new paradigm that saw the likes of electric vehicle manufacturer Tesla and its charismatic CEO Elon Musk dominating growth in the auto industry. One of those legacy auto makers has begun fighting back however, and investors are excited by what they see. Shares of Ford surged 8% higher yesterday after it reported better than expected third quarter earnings, a growing commitment to electric vehicles, and the restoration of its dividend. The auto maker also lifted its profit forecast for 2021 for the second time in as many quarters, further boosting investor enthusiasm. Ford management attributed its strong performance to a let-up in the shortage of chips needed for its cars, as well as strong consumer demand. Ford now has the largest inventory of vehicles in the industry, and has also been able to boost prices by 13%. Ford management said they are moving aggressively into the future, and plan on leading the electric vehicle revolution. They went on to reveal that they are seeing annual demand for 200,000 electric Mustang Mach-E SUVs. To support that they are already building out factories that will have the capacity to deliver 1 million electric vehicles by 2025. Third quarter profits were $0.51 a share versus the $0.27 a share expected. This is the sixth consecutive quarter that’s seen Ford beat analyst estimates. Ford has also recently overtaken General Motors as the top seller in the U.S. as they were able to grab 11.7% of the U.S. auto market in the third quarter.
U.S. Daily Market Review
2021-10-28 16:14UTC
Stocks jumped today amid solid earnings from major companies bolstered the equity markets. The Dow Jones Industrial Average added 200 points, or 0.6%. The S&P-500 gained 0.8%, while Nasdaq Composite soared than 1% to hit an intraday record high. Shares of Tesla surged  3%.Yields on the U.S. 20-year and 30-year bonds briefly inverted on Thursday.U.S. 20-year yield was above that of the 30-year. US economic growth largely retreated in the third quarter of the year.The economy inclined on annual rate of just 2% in the three months to September.Caterpillar Inc also secured almost 3% after announcing a quarterly profit on high commodity prices.
European Daily Market Review
2021-10-28 12:12UTC
European stocks are still without a clear direction but lost some ground. This has occurred as the as investors digested corporate earnings results.The German DAX slipped 0.27%, the French CAC-40 gained 0.44% and the British FTSE-100 fell 0.36%.The pan-European Euro Stoxx 600 is partly fluctuating. The European Central Bank preserved its policy unchanged as it was precited. The euro currency has tumbled below $1.16 just ahead of the European Central Bank meeting today.Sweden’s economy rallied more than the forecast in the third quarter. In fact, its GDP added almost 2% in the third quarter from the previous three-month period.
Gold Prices Surged
2021-10-28 06:30UTC
Gold prices advanced this morning during the Asian hours stimulated a loss of the US fields.Now, gold trades at $1803.41, which is a rise of $7.10 or 0.40% from the previous close of 1796.31. The daily trading range is from $1794.01 to 1804.00, while the trading volume is 78.824K.However, strong risk appetite in equity markets kept bullion’s gains in check.The USD, which is into a negative relationship to the precious metal, appreciated, while the benchmark 10-year U.S. Treasury yields sunk to a close two-week bottom.The markets are focused on the Bank of Japan and European Central Bank (ECB) policy decision, due later today. Both central banks are expected to preserve policy unchanged with the ECB.In other precious metals, silver was steady at $24.02 per ounce, while platinum gained 0.2%. 
Asian Daily Market Review
2021-10-28 01:48UTC
Asian markets are ticking mostly lower on Thursday morning as rising inflation is contributing to growing fears that the global economic recovery could falter if monetary policy is tightened to quickly in response. This follows overnight losses on Wall Street, where a morning rally faded in the afternoon to send major indices mostly lower by the close. Japan’s Nikkei is trading lower by 1.1% to lead losses across the region. That drop is coming on a combination of a stronger Yen and a decline of 0.6% in Japanese retail sales in September versus a year earlier. The Bank of Japan will release its latest monetary policy statement later today, with expectations for the central bank to keep monetary policy unchanged. Shares of Softbank Group are trading 2.8% lower, while Sony shares are falling 1.4%. In Australia the S&P/ASX 200 is slightly lower by 0.2%, with major miners dropping in tandem with falling metals prices, while the big four banks are offering support. Shares of ANZ are 1% higher, NAB is edging higher by less than 0.1%, Westpac is advancing 0.9%, and Commonwealth bank shares are inching lower by less than 0.1%. Among the miners shares of BHP are down 0.3% and Rio Tinto shares are 0.7% lower. Mainland Chinese markets have opened lower, with the benchmark Shanghai Composite losing 0.3% and the smaller cap Shenzhen Composite down 0.4%. Over in Hong Kong the Hang Seng is slightly lower by 0.1%. South Korea’s Kospi is bucking the falling trend with a gain of 0.3%, and Taiwan’s Taiex is edging up less than 0.1%. Southeast Asian markets are mixed, with Singapore’s Straits Times adding 0.2% and the KLCI in Malaysia losing 0.4%.
Robinhood Shares Drop Below IPO Price
2021-10-27 23:33UTC
Shares of Robinhood, the exchange favored by millennial investors, dropped as much as 12% in early trade Wednesday before recovering modestly to post a loss of 10.4% for the day. The drop came after the exchange posted third quarter revenue that was weaker than expected by Wall Street. Shares closed the session at $35.44, below the $38 July IPO price. The revenue shortfall came as cryptocurrency revenues fell 78% from the prior quarter. Total revenue for the quarter came in at $364.9 million, well short of the $423.9 million expected by Wall Street. In addition, the number of funded accounts dropped slightly from the second quarter as well. The lack of trading revenue for the exchange came as trading in memestocks and memecoins like Dogecoin cooled significantly. Even worse for Robinhood is the fact that it’s revenue miss and drop in funded accounts is in direct opposition with the much better trading revenues seen at major banks and brokers in the third quarter. If this is the beginning of a trend in the space of retail investing then Robinhood shares could have further to fall to adjust its multiple to properly reflect growth prospects. Robinhood also said that muted trading volumes could persist through the end of the year, giving out disappointing guidance of $325 million for the fourth quarter. Management also said they don’t expect their growth to be linear, and that they had expected growth to slow. On a more positive note the crypto revenue at Robinhood may have underperformed the prior quarter, but it’s up more than 10x on a year-over-year basis. Robinhood is planning on releasing a crypto wallet, and has over 1 million users on the waitlist.
U.S. Daily Market Review
2021-10-27 15:30UTC
The main U.S.  indexes tumbled today.The Dow Jones Industrial Average dropped from a record high on Wednesday.The 30-stock average lost 115 points, falling for the first time in four days. The S&P-500 is around static modes.The Nasdaq Composite secured 0.5% amid a rally of Microsoft shares.Microsoft shares soared 4% after the giant announced earnings above initial forecasts.exceeded analysts’ estimates and the fastest revenue growth since 2018.General Motors shares retreated more than 3%.Higher prices for vehicles and SUVs helped General Motors reported a $2.4 billion third-quarter profit.However, the profit came 40% weaker than the $4 billion GM made during the same period last year as sales largely fell.New orders for U.S.-made capital goods gained more grounds than estimates in September In fact, orders for non-defense capital goods advanced 0.8% last month.
European Daily Market Review
2021-10-27 07:48UTC
European stocks partly retreated some side this morning, as  the markets are focused on the corporate earning results.The German DAX fell 0.22%, the French CAC-40 lost 0.04% and the British FTSE-100 lost 0.09%.The pan-European Euro Stoxx-600 Index lost 0.1% in early deals, with mining stocks leading the losses with a fall of 1.2%.The Swiss National Bank is concerned with the need to preserve an expansive monetary policy at the central bank leadership’s annual meeting with the Swiss government.Euro zone bond yields retreated, while Germany’s yield curve flattened on Wednesday and with little data ahead, bond markets.The ECB is very likely to preserve its policy unchanged and leave a decision on its pandemic emergency bond purchase programme to December.Deutsche Bank announced a decline in revenues at its investment banking unit Wednesday, but still managed to come above estimates.The bank stated a net income of 194 million euros in the three months to September.The British Finance Minister Rishi Sunak will report the budget of the government later in the session.
Crude Oil Prices Retreat
2021-10-27 06:51UTC
Oil prices tumbled this morning after industry data showed demonstrated that crude oil stockpiles jumped more than predictions.In addition, U.S. fuel inventories unexpectedly soared last week.Now, oil trades at $83.685, which is another loss of $0.755 or 0.89% from the previous close of 84.440.The daily trading range is from $83.519 to 84.484, while the trading volume is 23.15K.West Texas Intermediate (WTI) futures dropped 79 cents, or 0.9%, to $83.86 a barrel after securing 1.1% in the previous session.Crude oil inventories surged 2.3 million barrels in the week ending Oct. 22, as reported by the American Petroleum Institute.Furthermore, gasoline inventories advanced by 500,000 barrels and distillate stocks increased by 1 million barrels.
Asian Daily Market Review
2021-10-27 01:53UTC
Asian markets are sliding modestly lower Wednesday morning as investors weigh the potential impact of global inflation and the indebted property sector in China. In addition the energy crisis continues to ripple across the global economy, with U.S. coal stockpiles falling to a 24 year low and U.S. benchmark WTI crude rising above $84 a barrel. Japan’s Nikkei is trading 0.5% lower, even as the Yen weakens to more than 114.00 versus the U.S. dollar. Shares of Softbank Group are contributing to the weakness as they are falling 3.2% and Sony shares are 1.9% lower. Among the major exporters Toyota are rising 0.5%, while Panasonic shares are sliding 2.6% lower and Canon shares are plummeting 6.2%. In Australia the S&P/ASX 200 is down 0.3%, with the big four banks mixed. Shares of ANZ are down 0.5%, but NAB is offsetting that with a gain of 0.3%. Meanwhile Commonwealth Bank shares are edging lower by less than 0.1% and Westpac is adding 0.3%. The major miners are also contributing to weakness as BHP slides 0.9% lower and Rio Tinto falls 1.4%. Mainland China’s markets have opened to large losses, with the benchmark Shanghai Composite losing 0.5% and the smaller cap Shenzhen Composite falling 0.6%. Over in Hong Kong the Hang Seng is outpacing losses on the mainland, dropping 1.3% to lead losses for the region as investors again worry over China’s property debt crisis. In South Korea the Kospi is losing 0.6%, while Taiwan’s Taiex is inching up by less than 0.1%. Southeast Asian markets are making modest gains, with the Straits Times in Singapore advancing 0.1% and Malaysia’s KLCI adding 0.2%.
U.S. Daily Market Review
2021-10-26 13:00UTC
U.S. stock futures soared this morning  as most traders and investors are focused on a slew of major technology earnings.Dow Jones Industrial Average futures added 114 points. The S&P-500 futures inclined 0.4% and Nasdaq 100 added 0.6%.Stock price of the social media giant Facebook surged 2.3% in premarket trading after the company’s results came above initial estimates.General Electric secured 1.4% in premarket trading after the company issued a rising mode revision to its full-year earnings predictions.The White House has revoked the US licence of one of China's leading telecoms companies.China Telecom must stop its operations in the US in the next two months.U.S. consumer confidence unexpectedly gained some side in October amid issues over rising inflation were offset by improving labor market prospects, implying in an economic growth.
European Daily Market Review
2021-10-26 09:42UTC
The major European stock markets advanced today amid positive corporate earnings reports.The German DAX added 0.97%, the French CAC-40 gained 0.66% and the British FTSE-100 inclined 0.61%.The pan-European Stoxx-600 surged 0.6% by late morning deals, with travel and leisure stocks jumping 2.1% to leading the rising path.Swiss bank UBS results came above analyst forecasts in the third quarter on a boom in wealth management, stating a net profit granted to shareholders of $2.3 billion. Swiss-American company Logitech announced a rally in second-quarter sales on the back of surging demand from home workers.Swedish bearings manufacturer SKF fell 7% after missing third-quarter profit forecasts.The GBP rose to a new 20-month peak versus the euro, being stimulated by diverging interest rate expectations for Britain and the euro zone.In fact, the sterling traded at 84.2 pence to the euro, 0.2% firmer on the day at the highest since February 2020.
Gold Prices Dropped
2021-10-26 06:37UTC
Gold price retreated this morning during the Asian hours. Now, the yellow metal trades at $1802.94, which is another loss of $4.20 or 0.23% from the previous close of 1807.14.The daily trading range is from $1801.70 to 1808.22, while the trading volume is 61.778K.The USD which is into a negative relationship to gold, gained 0.07% on Tuesday, recovering from a near one-month trough hit.Moreover, benchmark 10-year U.S. Treasury yields rallied slightly at 1.6430%.The markets are focused on the release from the Bank of Japan and the European Central Bank (ECB), coming out on Thursday. In addition, the Federal Reserve and the Bank of England are also set to meet next week. In the meantime, silver slipped 0.1% to $24.53 per ounce.
Asian Daily Market Review
2021-10-26 01:57UTC
Asian markets are making broad gains on Tuesday morning after another record setting session on Wall Street. Investors are putting aside concerns over a COVID-19 outbreak in China and the rising levels of inflation globally that weighed on markets yesterday. In Japan the Nikkei is rising 1.8% to lead gains around the region, with shares helped by weakness in the Yen versus the U.S. dollar. Shares of Softbank Group are trading 2.6% higher and Sony is adding 2.4% today.ong the major exporters Toyota is up 1.9%, Canon is falling 3.2% in opposition with the broader trend, and Panasonic is soaring 5.9% higher. Australia’s S&P/ASX 200 is trading modestly higher by 0.3%, with the big four banks supporting gains for the broader market. Shares of ANZ are up by 0.4%, NAB is adding 0.5%, Westpac is advancing 0.7%, but Commonwealth Bank shares are edging lower by 0.1%. The major miners are mixed, with BHP adding 1.1%, but Rio Tinto falling 0.8%, while the iron giant Fortescue Metals has a slight loss of less than 0.1%. Mainland Chinese markets have also opened to gains, with the benchmark Shanghai Composite rising 0.3% and the smaller cap Shenzhen Composite adding 0.5%. Over in Hong Kong the Hang Seng is pacing gains from the mainland with a gain of 0.3%. In South Korea the Kospi is gaining 0.5% and in Taiwan the Taiex is trading 0.7% higher. Southeast Asian markets are showing weakness today however, with the Straits Times Index in Singapore losing 0.3%, the KLCI in Malaysia dropping less than 0.1%, and the Jakarta Composite in Indonesia flat at the open.
The Week Of The FAANG Earnings
2021-10-25 21:35UTC
The coming week is expected to be full of excitement for investors as 4 out of the 5 FAANG names report on their third quarter earnings. The fifth, Netflix, has already delivered mixed results that were still well received by investors, sending shares to new record heights. Earlier today Facebook also revealed their third quarter results, which beat on the bottom line, while missing on the top line. Still investors were pleased, sending shares up 2.8% in after-hours trade. Coming up tomorrow will be results from Apple, which are expected to be good, but given recent rumors might not be as good as expected. While Apple hasn’t confirmed it, rumors state the iconic tech company has cut its production of iPhone 13 models by 10 million through the end of the year. Analysts believe that could equate to $0.20 a share in earnings. Naturally Apple wouldn’t see all of that in the third quarter, but if iPhone deliveries have been suffering as a result of supply chain issues and chip shortages, then earnings will suffer as well. On Thursday both Amazon and Alphabet report, and both have their own potential issues. For Amazon the issue is whether the massive growth caused by the pandemic is being upheld now that the world is looking to move into a post-pandemic model. If sales are slipping expect Amazon to report disappointing earnings. Costs have skyrocketed for Amazon during the pandemic, and while revenues were offsetting these additional costs, it’s possible that’s changed. Alphabet looks to be the safest of the group, although it may have seen some revenues hurt by the changes made to Apple’s privacy policy.
U.S. Daily Market Review
2021-10-25 13:04UTC
U.S. stocks gained ground as investors prepared for a major week of earnings from leading companies.The Dow Jones Industrial Average added 100 points, or about 0.3%. The S&P-500 gained 0.6% to set a new intraday record high. The tech-heavy Nasdaq Composite secured 0.9%.Caterpillar Inc and 3M Co secured 0.9% each ahead of their quarterly updates later this week.Tesla Inc stock price rallied almost 10% to a new peak after car rental firm Hertz placed an order for 100,000 Tesla cars.Shares of Facebook Inc were marginally surged ahead of its quarterly results.Shares of Kimberley-Clark fell 3.1% after the Huggies diapers maker reduced its 2021 profit outlook due to higher production costs.tion.
European Daily Market Review
2021-10-25 09:21UTC
European stocks are still without a solid direction today as the markets are focused on the corporate earnings, Covid-19 and the inflation picture. The pan-European Stoxx-600 hovered around the flatline pattern.The German DAX added 0.16%, the French CAC-40 slipped 0.11% and the British FTSE-100 surged 0.53%.Mining and energy stocks jumped more than 1.2% and 0.7%, accordingly. Being largely stimulated by oil prices at multi-year peak values.The GBP appreciated in early London trading on Monday. The sterling was boosted from forecasts that the Bank of England will raise rates.Data from the UK last week showed that PMIs rallied as the economy unexpectedly regained momentum in October.HSBC ssets secured 1.1% amid issues over pandemic-related bad loans were replaced by a surprise 74% advance in the British bank’s third-quarter profit.
Crude Oil Prices Further Advanced
2021-10-25 06:32UTC
Oil prices surged this morning during the Asian hours, extending the gaining mode for the week ahead.Now, oil trades at $84.335, which is another addition of $0.184 or 0.22% from the previous close of 84.151.The daily trading range is from $83.748 to 84.732, while the trading volume is 24.682K.U.S. crude jumped to a seven-year peak, indicating in a global supply that is still tight, combined with solid fuel demand as the economic recovery from COVID-19 continues.Coal and gas shortages in China, India, and Europe are still present, which stimulated fuel-switching to diesel and fuel oil for power.Moreover, Saudi Arabian prince Mohammed bin Salman reported over the weekend that his country hopes to come 'net zero' emissions of greenhouse gases by 2060. 
Asian Daily Market Review
2021-10-25 01:47UTC
Asian markets are mixed early Monday morning as traders are weighing an outbreak of COVID-19 in China, inflation risks, and the upcoming earnings from mega-cap tech companies. Last Friday Federal Reserve chairman Jerome Powell highlighted expectations for inflation to remain higher for longer than previously expected, which was confirmed by ex-Fed chair Janet Yellen over the weekend. Japan’s Nikkei is trading 0.6% lower as the Yen is strengthening versus the U.S. dollar to start the week. Shares of Softbank Group are falling 2.6% while Sony shares have jumped 1.4% higher. Among the major exporters Toyota is down 1%, Panasonic shares are surging 4.4% higher, and Canon is edging higher by 0.2%. Australia’s S&P/ASX 200 is leading gains as it advances 0.7%, with the big four banks supporting gains. Shares of ANZ are trading 0.7% higher, NAB is inching up by 0.1%, Commonwealth Bank is adding 0.9%, and Westpac has a 0.3% gain. The major miners are also supporting gains as BHP adds 1.1% and Rio Tinto advances 1.7%. Mainland Chinese markets are trading mixed early Monday with the benchmark Shanghai Composite losing 0.4%, but the smaller cap Shenzhen Composite rising slightly by less than 0.1%. Meanwhile over in Hong Kong the Hang Seng is trading 0.5% lower in sympathy with the losses being seen on the mainland. In South Korea the Kospi is edging lower by less than 0.1%, while Taiwan’s Taiex has a 0.2% loss. Southeast Asian markets are modestly higher, with Malaysia’s KLCI up by 0.2%, Singapore’s Straits Times edging up slightly by less than 0.2%, and Indonesia’s Jakarta Composite is unchanged in early trade.
U.S. Daily Market Review
2021-10-22 19:28UTC
The main indexes tumbled after the benchmark closed at a record.The Dow Jones Industrial Average added 92.07 points, or 0.26%, to 35,695.15.The S&P-500 fell 3.93 points, or 0.09%, to 4,545.85 and the Nasdaq Composite retreated 121.42 points, or 0.8%, to 15,094.28.Shares of American Express, which reported quarterly earnings Thursday.The U.S. federal budget deficit declined in September to $62 billion from $125 billion in the year-earlier period and was the smallest budget gap since January 2020.The U.S. budget deficit came to a whole $2.772 trillion during fiscal 2021, below the prior year’s record shortfall.The United States registered a deficit of $3.132 trillion in fiscal 2020.
Has Tech Seen Peak Earnings?
2021-10-22 11:53UTC
Weak earnings from Intel and Snap earlier this week have shown that the tech sector isn’t immune from supply chain issues that have been plaguing other industries, and that could mean that for much of tech peak earnings were hit in the second quarter of 2021. Going forward tech should still continue with moderate growth, but not at the blistering rate seen over the past year. Supply chain issues are already expected to hit Apple, with the tech giant not refuting rumors that it has lowered production on its iPhone 13 due to chip shortages. It’s also expected to hit Amazon, as the log jam of cargo ships unable to unload at U.S. ports is going to hit retailers and e-tailers with a shortage of goods to sell. Many parts of the tech industry rely on chips and other parts that will remain in short supply through 2022. The areas affected will likely include computers, hardware, storage, semiconductors, software, IT services and communications equipment — as well as the consumer discretionary segment that includes Amazon. However there do remain some tech sectors that can flourish in the current environment. For example, the semiconductor sector is expected to see better than 35% earnings growth in the third quarter of 2021. And most of those companies are also already forecasting continued shortages and strong order patterns lasting well into 2022, and potentially into 2023. The communication services part of the tech sector should also be able to maintain growth. This includes the likes of Facebook, Alphabet, Netflix, and Twitter. The only threat to this group is government regulators, and lawmakers seem busy enough to avoid tackling tech for now.
European Daily Market Review
2021-10-22 09:29UTC
European stocks advanced today amid concerns over the Chinese property market cooled.The German DAX gained 0.71%, the French CAC-40 soared 1.06% and the British FTSE-100 advanced 0.53%.The pan-European Stoxx-600 surged 0.6% by mid-morning, with tech stocks adding 1.6% and leading the path.Growth in euro zone business activity retreated month as firms faced soaring costs due to supply-chain issues.IHS Markit’s Flash Composite Purchasing Managers’ Index (PMI) sunk to a six-month low of 54.3 in October from 56.2 in September.L’Oreal shares rallied little more than 6% by mid-morning to lead the Stoxx 600.Britain’s economy unexpectedly is into recovery in October and cost pressures rose by the most in more than 25 years.Moreover, the cost of hedging against inflation in the U.K. over the next decade jumped to its peak of the last 25 years.
Crude Oil Prices Fell
2021-10-22 06:13UTC
Crude oil prices retreated this morning during the Asian hours as U.S. supplies continue to decline.Now, oil trades at $81.931, which is another loss of $0.649 or 0.79% from the previous close of 82.580.The daily trading range is from $81.883 to 83.066, while the trading volume is 21.099K.The oil prices were set for a flat finish to the week, with easing coal and gas prices, which resulted in higher demand for oil products.The price jumped to multi-year peaks earlier in the week amid worries over  coal and gas shortages in China, India and Europe.Wednesday’s numbers from the U.S. Energy Information Administration indicated in that crude stocks at Cushing dropped to 31.2 million barrels, its weakest mark since October 2018.
Asian Daily Market Review
2021-10-22 02:34UTC
Asian markets are trading mostly higher on Friday morning as investor sentiment shows improvement in response to news that property developer Evergrande will pay off the interest due on its dollar denominated bonds. Japan’s Nikkei is leading gains for the region with an advance of 0.7% as the Yen is weaker today versus the U.S. dollar, giving a boost to the export sector. Shares of Softbank are trading 1.5% higher and Sony has a gain of 0.8%. Among the major exporters Toyota is adding 0.4%, Panasonic shares are 0.3% higher, and Canon shares are flat and unchanged. In Australia the S&P/ASX 200 has flipped from early gains to a loss of 0.2% as the big four banks contribute to the broad based weakness. Shares of ANZ are 0.3% lower, and NAB is also losing 0.3%, while Commonwealth Bank is falling 0.5% and Westpac shares trade down by 0.7%. The major miners are also contributing to the broad market weakness, with BHP shares trading 2.4% lower and Rio Tinto losing 1.6%. Mainland Chinese markets are mixed with the benchmark Shanghai Composite trading 0.1% lower, but the smaller cap Shenzhen Composite advancing 0.4%. Over in Hong Kong the Hang Seng is flat with a slight loss of less than 0.1%. In South Korea the Kospi is edging lower by less than 0.1%, and in Taiwan the Taiex has a loss of 0.2%. Southeast Asian markets are mixed, with the Straits Times in Singapore adding 0.4%, while the KLCI in Malaysia is 0.4% lower and the Jakarta Composite in Indonesia has a loss of 0.6% to lead losses for the region.
U.S. Daily Market Review
2021-10-21 17:44UTC
The leading U.S. indexes fell today after the blue-chip Dow Jones Industrial Average retook its record high in the prior session.The Dow Jones Industrial Average slipped 135 points, or 0.3%. The S&P-500 secured 0.03% and the Nasdaq Composite added 0.4%.Tesla shares added 3% after the registering record earnings and revenue in the third quarter coming above forecasts.American Airlines gained 1.6% after it posted a profit due to federal aid for the third quarter.The number of officially unemployed Americans sunk to a 19-month bottom last week. In fact, the weekly unemployment claims report as reported by the Labor Department.IBM declined 8.2% after coming below market predictions for quarterly revenue.American Airlines surged 1.2% after marking less than forecasts quarterly loss.Southwest Airlines Co dropped 1.5% after it reported it predicts current quarter profits to remain elusive.
What Will Facebook Earnings Reveal?
2021-10-21 16:05UTC
Earnings season has been good to the markets so far and in the coming week investor attention will turn to the mega-cap tech companies, beginning with Facebook. With the company facing regulatory headwinds and scandals uncovered by whistleblowers this might not be the best positioning for Facebook shares, although investors have been buying ahead of the earnings results. That’s interesting given that Facebook’s revenue growth is expected to have decelerated significantly in the third quarter. That deceleration is from a combination of strong year-over-year comparisons and ad revenue headwinds created by increased regulations and the changes made by Apple in its latest iOS version. Even with the deceleration revenues are expected to increase by 37.7% on a year-over-year basis to $29.55 billion. Meanwhile earnings are expected to come in at $3.20 a share, representing an 18.1% increase from the year-ago quarter. Note that Facebook has beaten earnings estimates in all four of the past quarters, with the average earnings beat being a healthy 29.6% improvement over estimates. The advertising revenues at Facebook are expected to have benefitted from improved ad spend from businesses, as well as the accelerated shift to digital advertising in general. Facebook is also thought to have gained market share in the third quarter based on increased user base and innovations in advertising delivery. However, that could be offset by the changes made by Apple and Google in their mobile operating systems, which has negatively impacted Facebook’s ability to track user activity. Also potentially weighing on advertising revenues is the increasing competition for ad dollars in the online advertising space.
European Daily Market Review
2021-10-21 08:54UTC
European stocks partly dropped some ground amid worries over the Chinese property sector returned to the fore.The German DAX fell 0.16%, the French CAC-40 slipped 0.37% and the British FTSE-100 dropped 0.32%.The pan-European Stoxx-600 declined 0.2% in early trade.Today, Hermes, L’Oreal and Pernod-Ricard reporting their latest sales numbers. Euro zone bond yields are into a steadied pattern today as the market continued to calm from a sell-off that had sent bond yields.Government bond yields across developed markets soared in recent weeks.Global miner Anglo American tumbled 1.9% despite reporting an incline of 2% rise in third-quarter.Unilever added 0.9% after the consumer goods giant came above its third-quarter sales growth estimates.
Gold Prices Advanced
2021-10-21 07:56UTC
Gold prices rallied this morning during the Asian hours, still marking some gains into a third session. This is partly the results of the weakening rate of the USD.Now, the yellow metal trades at $1782.02, which is a rise of $0.30 or 0.02% from the previous close of 1781.72.The daily trading range is from $1780.72 to 1789.35, while the trading volume is 107.13K.Gold futures added 0.12% to $1,785 by 12:02 AM ET (4:02 AM GMT).U.S. Federal Reserve announced while asset tapering should begin soon, it was too soon to hike interest rates. Moreover, the Bank of England could become the first major central bank to hike interest rates in the post-COVID-19 cycle. Russia’s gold reserves registered 73.9 million troy ounces as of the start of October.In the meantime, silver inclined 0.3% and platinum secured 0.1%.  
Asian Daily Market Review
2021-10-21 01:44UTC
Asian markets are off to a mixed start on Thursday morning, with most major markets showing little change after U.S. market put in a mixed session themselves overnight. Also noteworthy is the rally in Bitcoin that’s taken the leading cryptocurrency to a new record high following the launch of the very first U.S. Bitcoin ETF on Tuesday with a second set to launch on Friday. Japan’s Nikkei is trading 0.3% lower as the Yen firms modestly versus the U.S. dollar. Shares of Softbank Group are trading slightly higher by 0.2%, while shares of Sony are falling 0.4%. Among the major exporters shares of Toyota are 0.9% lower, Panasonic is losing 0.6%, and Canon shares are falling 1.3%. In Australia the S&P/ASX 200 is 0.2% higher as the big four banks put in a mixed performance. Shares of ANZ are down 0.2%, NAB has a 0.7% gain, Commonwealth Bank is edging lower by less than 0.1%, and Westpac has a 0.4% gain. The major miners are mixed as well, with BHP advancing 0.8%, but Rio Tinto falling 0.4%. Mainland Chinese markets have opened to small gains, with the benchmark Shanghai Composite and the smaller cap Shenzhen Composite both advancing 0.1%. Meanwhile over in Hong Kong the Hang Seng is inching higher by less than 0.1%. In South Korea the Kospi is inching lower by less than 0.1%, and in Taiwan the Taiex has a 0.3% gain. Southeast Asian markets are mixed as well today as the KLCI in Malaysia moves 0.2% lower, and the Straits Times in Singapore adds less than 0.1%, while Indonesia’s Jakarta Composite is unchanged at the open.
U.S. Daily Market Review
2021-10-20 15:09UTC
The S&P-500 advanced for a sixth session as investor mode was boosted by higher than predicted earnings.The Dow Jones Industrial Average added 150 points, or 0.4%. The S&P 500 gained 0.3% and Nasdaq Composite secured 0.08%.Ford shares soared 4% after Credit Suisse upgraded its EV shift and predicted a surge of 30%.Anthem Inc surged 5.7% and Biogen Inc added 2% after both the companies raised their full-year profit estimates.Abbott Laboratories added 4.2% after raising its full-year profit forecast on a recovery of COVID-19 test sales.Tesla Inc slipped 0.6% as the attention is turned on its performance in China.
European Daily Market Review
2021-10-20 08:21UTC
European stocks are without a solid direction today amid fluctuating sentiment globally signals.The German DAX added 0.01%, the French CAC-40 slipped 0.18% and the British FTSE-100 lost 0.21%.The pan-European Stoxx-600 moved fractionally above the flatline in early trade.Kering fell 4.0% as sales growth at its star fashion brand Gucci missed initial sales forecasts.Dutch paints and coatings maker Akzo Nobel dropped 2.3% after its quarterly earnings were hit by continued raw material inflation and supply issues.The GBP dropped below a one-month, despite the loss in September inflation was unlikely to stop the Bank of England from boosting its interest rates soon.Consumer prices in the U.K. soared 3.1% in annual terms in September, easing back from 3.2% in August, as reported by the Office for National Statistics.
Crude Oil Prices Retreated
2021-10-20 06:30UTC
Crude oi prices tumbled this morning during the Asian hours, reversing its gaining mode.Now, oil trades at $81.599, which is another decline of $1.437 or 1.73% form the previous close of 83.036.The daily trading range is from $81.595 to 83.036, while the trading volume is 26.097K.The Chinese government also indicated that it looking for solutions to curb coal prices that are at record peak marks.Brent oil futures sunk 0.58% to $84.55 by 10:12 PM ET (2:12 AM GMT).The oil prices rallied to multi-year highs earlier in the week as a global coal and gas shortage is further seen. China's National Development and Reform Commission (NDRC) signaled in that is possible to have a government intervention in coal industry in order to regulate prices.Yesterday’s U.S. crude oil data from the American Petroleum Institute demonstrated a rise of 3.294 million barrels for the week ended Oct. 15. The market is now focused on the crude oil data from the U.S. Energy Information Administration, coming out later today. 
Asian Daily Market Review
2021-10-20 01:47UTC
Asian markets are trading higher on Wednesday morning following the overnight gains on Wall Street that saw the S&P 500 notch a fourth consecutive winning session. Gains are coming ahead of China releasing its benchmark lending rate later today, and despite the International Monetary Fund downgrading 2021 growth for the Asian region. In Japan the Nikkei is trading 0.7% higher, with the Yen remaining at a five year low against the U.S. dollar. Shares of Softbank Group are trading 1.9% higher, and Sony has a 0.9% gain. Among the major exporters Toyota is adding 0.7%, Panasonic is up 0.8%, and Canon shares are soaring 2.9% higher. Australia’s S&P/ASX 200 has a gain of 0.9%, with the big four banks providing modest support. ANZ shares are up 0.5%, NAB is advancing 0.6%, Commonwealth Bank has a gain of 1%, and Westpac is adding 1.1%. The major miners are also providing support as BHP gains 1.8% and Rio Tinto is up by 1%. Mainland Chinese markets have opened mixed, with the benchmark Shanghai Composite falling 0.3%, but the smaller cap Shenzhen Composite rising less than 0.1%. Meanwhile in Hong Kong the Hang Seng is leading gains for the region as it’s adding 1.2% in morning trade to extend the rally begun in the prior session. South Korea’s Kospi is edging up by 0.2%, and in Taiwan the Taiex has a modest 0.3% gain. Southeast Asian markets are little changed today, with the Straits Times in Singapore adding 0.1%, while the KLCI in Malaysia is trading less than 0.1% higher and the Jakarta Composite in Indonesia is falling less than 0.1%.
UK CPI Data Could Present Trading Opportunity
2021-10-19 18:01UTC
One of this week’s best trading opportunities comes via the U.K. CPI data due out later today. With inflation surging higher around the world, and yields on bonds climbing higher too, what will the U.K. CPI data tell us? The Pound is climbing steadily over the past several weeks, as traders are betting on the Bank of England raising interest rates before the end of 2021. Currently there’s an implied 70% chance for the BoE to raise rates at their December 16 meeting. One reason for this belief is the hot inflation data that’s now being reported in the U.K. August’s CPI reading had inflation growing at a 3.2% pace, and economists expect that the September CPI number will be the same. This is well above the BoE target for inflation, and could easily contribute to an interest rate hike sooner rather than later. Not only that, but the market is also currently pricing in four more interest rate hikes in 2022. This presents traders with a potential opportunity when the September CPI data is released. If the data comes in below the expected 3.2% level then we could get selling in the Pound. The further below that level, the greater the potential selling. And the GBP/USD would likely sell off the heaviest since the U.S. is looking at its own upcoming interest rate hikes. Alternatively, if the data comes in above the 3.2% expected we should get continued rallies in the Pound, particularly against the Euro and the Yen. That’s because the European Central Bank and the Bank of Japan remain very dovish, with no anticipated interest rate hikes on the horizon.
U.S. Daily Market Review
2021-10-19 14:41UTC
U.S. stock indexes spared today as the leading companies continued to report strong third-quarter earnings.The S&P-500 gained 0.5%. The Dow Jones Industrial Average secured 115 points, or 0.3%. The Nasdaq Composite inclined 0.4%. U.S. homebuilding unexpectedly dropped September amid persistent shortages.Housing starts fell 1.6% to a seasonally adjusted annual rate of 1.555 million units last month, as reported by the Commerce Department.Johnson & Johnson also came above third-quarter earnings estimates by 25 cents per share. The USD dipped on Tuesday as the rapid rise in U.S. Treasury yields paused and other currencies, including sterling, were boosted by expectations of sooner-than-previously expected interest rate hikes.The USD index against a basket of other currencies was last down 0.27% on the day at 93.65.Facebook Inc, Apple Inc, Alphabet Inc and Microsoft Corp soared between 0.6% and 0.9%.
European Daily Market Review
2021-10-19 07:01UTC
European stocks only partly moved today, after having had time to grab the baton despite positive global sentiment.The pan-European Stoxx-600 hovered fractionally above the flatline earlier today.The German DAX added 0.06%, the French CAC-40 slipped 0.43% and the British FTSE-100 lost 0.07%.The Greek leading power utility Public Power Corp. (PPC) was granted approval for a share offering.Telecom giant Ericsson dropped 3% as a hit from global supply chain problems overshadowed greater than estimated third-quarter core earnings. French food group Danone declined 1.3% after marking rising costs and weaker sales.Euro zone bond yields are relatively static amid as developed bond markets calmed after a hefty sell-off a day earlier.Yesterday, euro area yields jumped following British government bond yields in particular.
Gold Prices Surged
2021-10-19 06:26UTC
Gold pries advanced this morning during the Asian hours, thanks to losses in both the dollar and U.S. bond yields.Currently, the gold trades at $1776.98, which is a gain of $12.39 or 0.70% from the previous close of 1764.59.The daily trading range is from $1762.73 to 1777.69, while the trading volume is 57.842K.The USD which is into a negative relationship to the precious metals tumbled and is still around its weakest marks.U.S. factory data reported showed that industrial production fell 1.3% month-on-month and soared less than the estimates of 4.6% on annual basis.In Asia Pacific, the Reserve Bank of Australia announced the minutes from its latest meeting earlier in the day.Meanwhile, silver secured 0.5%, platinum inclined 0.4% and palladium soared 0.3%. 
Asian Daily Market Review
2021-10-19 01:59UTC
Asian markets are rising on Tuesday morning following overnight gains on Wall Street that saw the S&P 500 enjoy a fourth consecutive session of gains. Investors are also closely monitoring shares of Apple suppliers after the Cupertino, CA based tech giant revealed its newest product line yesterday. Australia’s central bank will also release its October monetary policy meeting, which could impact on the S&P/ASX 200 and on the Australian dollar. Japan’s Nikkei is trading 0.4% higher as the Yen continues to hover near a five year low versus the U.S. dollar. Shares of Softbank Group are trading 1.3% higher, and Sony is adding 0.3%. Among the major exporters shares of Toyota are falling 1.1%, Panasonic has a 0.5% loss, and Canon shares are edging lower by 0.2%. Australia’s S&P/ASX 200 is trading 0.3% higher as the big four banks track the broader market. Shares of ANZ are 0.4% higher, NAB is advancing 0.2%, Commonwealth Bank is up 0.3%, and Westpac has added 0.2%. Meanwhile the major miners are weighing heavily on the broader market, with BHP trading 1.6% lower and Rio Tinto dropping 2.8%. Mainland Chinese markets have opened to gains, with the benchmark Shanghai Composite rising 0.2% and the smaller cap Shenzhen Composite advancing 0.5%. Over in Hong Kong the Hang Seng is following the lead on the mainland and adding 0.4%. In South Korea the Kospi trades 0.4% higher, and in Taiwan the Taiex is up by 0.7%. Southeast Asian markets are making good gains too, with the Straits Times in Singapore leading the region as it adds 0.9%, while the KLCI in Malaysia trades 0.5% higher.
U.S. Daily Market Review
2021-10-18 18:46UTC
Тhe main U.S. indexes are into recovery today after starting on a lower side.This was the case amid the extension of solid earnings reports from major companies. Tesla and Netflix advanced just ahead of third-quarter reports later this week.The S&P-500 added 0.2%, while the Dow Jones Industrial Average dropped 40 points. The Nasdaq Composite secured 0.6%.Apple Inc surged 0.6% after the giant  unveiling of new Mac laptop computers with more powerful processor chips. U.S. industrial production retreated in September. In fact, output tumbled almost 1.28% to its lowest level since February.Мoreover, 10-year Treasury yield jumped, heading bove 1.61% at one point Monday morning.
What's Coming For Netflix Earnings?
2021-10-18 18:34UTC
With Netflix set to deliver third quarter earnings results, what should investors expect? The stock has enjoyed some tailwinds of late, but will the earnings continue that trend and send Netflix shares to a new record, or will results be disappointing and cause the stock to crash instead? Netflix has the best short-term performance among the FAANG stocks, with shares up 7% over the past month, and 18.7% over the past three months. One thing that’s created buzz around Netflix of late is the streaming network’s release of the South Korean show The Squid Games. It’s gained massive viral traction, and according to Netflix has brought in some $900 million when accounting for various metrics. One of the obvious metrics under consideration is subscriber numbers, and given the data out The Squid Games may have been a huge driver in that respect. Data indicates that roughly 44% of all Netflix subscribers have tuned in to watch The Squid Games. That would be almost 92 million viewers based on Q2 numbers. More critically, the data also indicates that 24% of Squid Games viewers either renewed their Netflix subscription or signed up for a new subscription. That’s roughly 22 million subscriptions, and while all of them obviously aren’t new subscriptions, we can assume that at least several million of them were. And that could lead to a massive beat in terms of expected subscriber growth. If shares can rally above the $650 level we could see a move as high as $700 coming, but if investors are disappointed the subsequent dip could be deep, with the prior all-time high at $593 looking as strong support.
European Daily Market Review
2021-10-18 07:25UTC
European stocks partly tumbled today as global markets are focused on the coming big earnings reports.The German DAX slipped 0.31%, the French CAC-40 lost 0.76% and the British FTSE-100 fell 0.12%.The pan-European Stoxx-600 retreated 0.35% in early trade, with retail stocks dropping 1.2% to lead the falling path.Dutch health tech firm Philips dropped 2.3% after lowering its outlook as a massive recall of respiratory devices and a shortage of electronic supplies.British online retailer The Hut Group gained 9.5%.Euro zone bond yields geared up on Monday as a global repricing of interest rate estimates stimulated borrowing costs of the euro currency.Facebook is about to hire 10,000 people in the European Union to develop a so-called metaverse.A metaverse is a virtual world where users are able to play, work and communicate in an electronic environment.
Crude Oil Prices Advanced
2021-10-18 06:42UTC
Oil prices soared to their peak mark of the last few years this morning.This is taking place as demand level regain their lost ground from the COVID-19 pandemic.Now, oil trades at $83.248, which is another incline of $0.780 or 0.95% from the previous close of 82.468.The daily trading range is from $82.468 to 83.708, while the trading volume is 19.05K. Brent crude oil futures added 90 cents, or 1.1%, to $85.76 a barrel by 0445 GMT.Japanese Prime Minister Fumio Kishida called today oil producers to raise their supply levels output and take steps to cushion the blow to segments of the economy impacted by the recent massive advance of the energy costs.In fact, higher output could come from the US, where energy firms last week added oil and natural gas rigs for a sixth week.This is happening as soaring crude prices prompted drillers to return higher production.
Asian Daily Market Review
2021-10-18 01:46UTC
Asian markets are mixed but little changed to kick off the week Monday as signs of surging inflation are causing Treasury yields in Australia, New Zealand and the U.S. to climb higher. Investors are also looking ahead to China’s third quarter GDP and monthly industrial data to see what impact the energy crisis is having on the Chinese economy. Japan’s Nikkei is trading 0.1% lower as the Yen is strengthening today versus the U.S. dollar. Shares of Softbank Group are 0.4% lower and Sony shares are falling 1.2%. Among the major exporters Toyota is jumping 3% higher, while Panasonic is retreating 0.3% and Canon is adding 1.3%. Australia’s S&P/ASX 200 has added 0.3% as the big four banks are rising in response to the rising Treasury yields after New Zealand’s inflation data rose the most in 10 years. Shares of ANZ are trading 1.2% higher, NAB is rising 0.4%, Commonwealth Bank is 1.1% higher, and Westpac is gaining 0.8%. Meanwhile the major miners are also supporting the broader markets as BHP is edging up by 0.2% and Rio Tinto shares are adding 1.2%. In mainland China markets have opened to small losses, with the benchmark Shanghai Composite losing less than 0.1%, while the smaller cap Shenzhen Composite falls 0.2%. In Hong Kong the Hang Seng is taking its own direction, rising 0.2% at the open. South Korea’s Kospi is leading losses for the region with a loss of 0.4%, and in Taiwan the Taiex is flat with a slight gain of less than 0.1%. Southeast Asian markets are higher today as well, with the KLCI in Malaysia advancing 0.6%, while the Straits Times in Singapore has a slight gain of less than 0.1%.
Where Does The USD Go From Here?
2021-10-15 21:41UTC
The USD Index was flat on Friday, and for the week the USD declined for the first time since the start of September. The USD fell off its one year high as traders began to speculate on when the Federal Reserve might begin raising interest rates. Improved market sentiment is weighing on the haven USD this week, though to be fair its loss was only 0.1% for the week. And against the JPY the USD has maintained its momentum, trading above the 114.00 level for the first time since September 2018. That move is also related to rising risk appetite. With equities rallying hard the JPY has no place as a hedge and nowhere to go versus the U.S. dollar than down. The U.S. dollar has been rallying on expectations that the Federal Reserve would tighten monetary policy more quickly due to the recovery in the economy and surging inflationary pressures. Minutes from the September Federal Reserve meeting confirmed the accuracy of that speculation last Wednesday, nearly guaranteeing that tapering of bond purchases would begin by the end of 2021. On the subject of interest rate hikes and what to do about inflation the central bank committee members were more divided. Currently money markets are pricing in a 50/50 chance of a 0.25% interest rate hike by July 2022. The news halted the rally in the USD because markets already had that rate hike priced in, but as soon as the greenback has time to consolidate analysts believe it will resume its rally, particularly against the Euro and Japanese Yen, as central bankers in both regions have no plans on increasing interest rates yet.
U.S. Daily Market Review
2021-10-15 13:36UTC
U.S. stock indexes advanced today amid higher than predicted third-quarter earnings reports.The Dow Jones Industrial Average added 295 points, or 0.8%. The S&P-500 secured 0.7% and the Nasdaq Composite inclined 0.5%.The USD partly retreated versus the main pairs and are into a trend to break its five-week winning streak.The USD was slipped 0.106% at 93.940.U.S. business inventory further advanced solidly in August.Inventories rallied 7.4% on annual basis  in August. Additionally, retail inventories secured 0.1% in August as estimated in an advance report published last month. Moderna Inc rose 1.2% after a U.S. FDA panel voted to recommend booster shots of its COVID-19 vaccine for Americans aged 65 and older and high-risk people.U.S. retail sales unexpectedly jumped last month. They were largely stimulated in part by massive incline in receipts at auto dealerships due to higher motor vehicle prices.
Asian Daily Market Review
2021-10-15 11:32UTC
Asian markets rallied to close out the week, rising broadly on Friday as the solid start to earnings season in the U.S. is offsetting worries over rising inflation and coming tapering from the Federal Reserve. Investor’s attention has also been diverted from the energy crisis and from ongoing supply chain issues by the earnings from U.S. banks this week. Japan’s Nikkei soared 1.8% higher as the Yen continued to weaken versus the U.S. dollar. The Yen is now at its weakest closing level since March 2017. Shares of Softbank Group added 0.6%, while Sony shares jumped 2.7% higher. Among the major exporters Toyota was 0.4% higher, Panasonic shares added 2%, and Canon shares rallied to a 3% gain. In Australia the S&P/ASX 200 added 0.7%, with the big four banks providing support for the broader market. Shares of ANZ rose 1.1%, NAB edged up by 0.2%, Commonwealth Bank was 0.4% higher, and Westpac shares gained 0.5%. The major miners were mixed however, with BHP making strong gains and adding 2.8%, but Rio Tinto shares falling 0.9%. Mainland Chinese markets rose for the day as well, with the benchmark Shanghai Composite adding 0.4% and the smaller cap Shenzhen Composite finishing the day 0.5% higher. Over in Hong Kong the Hang Seng rallied strongly to add 1.5% by the close. In South Korea the Kospi advanced 0.9%, and the Taiex in Taiwan led gains for the region as it exploded 2.4% higher. Southeast Asian markets made modest gains, with the Straits Times in Singapore advancing 0.3%, Malaysia’s KLCI gaining 0.4%, and the Jakarta Composite in Indonesia edging up by 0.1%.
European Daily Market Review
2021-10-15 09:18UTC
European stock markets advanced as corporate earnings drove global markets north to close out the week.The German DAX gained 0.21%, the French CAC-40 inclined 0.38% and the British FTSE-100 advanced 0.22%.The pan-European Stoxx 600 surged 0.3% in early trade, with banks adding 1.4% to lead the rising path.In reality, European stocks rallied to their best weekly performance of the last seven months.French conglomerate Bollore is about to sell its African logistics divisions, as reported by the French daily Le Monde.Le Monde announced that French shipping company CMA CGM and Danish group Maersk are looking at the assets.Drops in Rio Tinto after the miner reduced its iron-ore shipments estiamtes.Oil majors BP and Royal Dutch Shell advanced 1.4% and 1.2%.The GBP jumped to a three-week peak in early trading on Friday, its peak since August versus the USD.
Gold Prices Tumbled
2021-10-15 06:25UTC
Gold prices dropped this morning during the Asian hours, but are about to mark their best week of the last five months. Presently, gold trades at $1791.74, which is another decline of $3.61 or 0.20% from the previous close of 1795.35.The daily trading range is from $1790.26 to 1796.30, while the trading volume is 57.196K.Retreats in both the USD and U.S. Treasury yields also added to the losses of the precious metal as the U.S. Federal Reserve prepares to begin asset tapering.U.S. data released on Thursday indicated in that the producer price index advanced 0.5% month-on-month in September. This came in weaker than the estimates of 293,000 initial jobless claims.In the meantime silver slipped 0.4% to $23.44 per ounce but set for its largest  weekly rally. Platinum eased 0.1% to $1,054.05, after reaching its peak price since Aug. 2.
Is Apple A Buy At Depressed Levels?
2021-10-14 18:25UTC
Apple shares bounced back yesterday, adding 1.8% amidst broad-based market strength, but the stock remains nearly 10% off its early September record highs. The recovery comes after rumors surfaced late Tuesday that Apple was cutting its iPhone 13 production by as much as 10 million units due to global chip shortages. Some analysts are saying that the lower price for Apple represents a buying opportunity, given the strong brand, excellent management, and proven ability of Apple to generate healthy revenues and profits even in challenging times. They note that the current pullback is due to a supply chain problem, which will eventually sort itself out. Meanwhile the demand for Apple products remains extremely strong. If Apple were to head lower from current levels the 200-day moving average is just at the $135 level. That’s roughly 6% below current levels, and it should provide very strong support for price. Meanwhile the stock is likely looking at a band of resistance between the $145 and $150 levels, not to mention the resistance at the all-time high around $157. Those resistance levels could make gains a problem just now given the fundamental issues being faced by Apple, but once broken they will also represent strong support for a year-end rally. Let’s also not forget that Apple’s earnings report isn’t far off. The tech giant is expected to release its fiscal fourth quarter earnings report on October 28, which is just two short weeks away. Apple has a history of seeing its stock price run up ahead of quarterly earnings, and in this case that could mean a new all-time high if the broader market remains favorable.
U.S. Daily Market Review
2021-10-14 11:07UTC
U.S. major stock indexes rallied after higher than predicted earnings reports from Walgreens Boots Alliance, UnitedHealth, Bank of America.The Dow Jones Industrial Average added 500 points, or 1.5%. The S&P-500 soared 1.6% and the Nasdaq Composite secured 1.7%.Bank of America Corp. reported that third-quarter profit secured 58%.Bank of America, Morgan Stanley stock advanced 3.7% and 1.8%, according. This came higher than the forecasts.Wells Fargo shares slipped 1.5% and Citigroup traded near the flatline despite earnings beats.The number of officially unemployed Americans fell below 300,000 last week for the first time in 19 months.In reality, initial claims for state unemployment benefits retreated 36,000 to a seasonally adjusted 293,000 for the week ended Oct. 9. That is the weakest level since mid-March 2020.
European Daily Market Review
2021-10-14 07:48UTC
European stock markets rallied today with most traders and investors are focused on the latest inflation data and earnings out of the U.S.The pan-European Stoxx-600 added some side 0.5% in early trade, with basic resources adding 2% to lead the rising pattern.The German DAX gained 0.48%, the French CAC-40 inclined 0.41% and the British FTSE-100 surged 0.47%.Euro zone bond yields advanced and looks for a direction after a volatile session.Government bond yields jumped over the last month amid concerns over inflation and hawkish comments from the leading central banks.Germany’s leading economic institutes on reduced their estimate for 2021 growth of Europe’s biggest economy to 2.4% from the 3.7%.
Crude Oil Prices Surged More Than Predicted
2021-10-14 06:51UTC
Oil prices jumped today, reversing the falling path amid higher than predicted draw in U.S. stocks.Now, oil trades at $81.130, which is another incline of $0.537 or 0.67% from the previous close of 80.593.The daily trading range is from $80.390 to 81.191, while the trading volume is 14.596K.U.S. West Texas Intermediate (WTI) crude futures secured 52 cents, or 0.7%, to $80.96 a barrel.The American Petroleum Institute (API) announced yesterday that U.S. crude stockpiles gained 5.2 million barrels for the week ended Oct. 8.The Organization of the Petroleum Exporting Countries and its allies knows as OPEC+ announced to a previously agreed deal for additional 400,000 barrels per day (bpd) starting from next month.Oil prices were also supported by issues over supply tightness after the U.S. Energy Information Administration (EIA) said on Wednesday that crude oil output in the United States, the world's biggest producer, is going to decline in 2021 greater than previously estimated. 
Asian Daily Market Review
2021-10-14 01:52UTC
Asian markets are trading mostly higher on Thursday morning following overnight gains on Wall Street. Investors seem unconcerned over the rising pace of global inflation, and the worsening supply chain issues that are making it difficult for most companies to deliver products effectively to their customers. In Japan the Nikkei is trading 1% higher as the Yen remains near its weakest level versus the U.S. dollar since 2018. Shares of Softbank Group are trading 0.7% higher, and Sony is matching that with its own 0.7% advance. Among the major exporters Toyota is 0.3% lower, while Panasonic is adding 0.6% and Canon trades 0.2% lower. Australia’s S&P/ASX 200 is adding 0.8% today, with a mixed performance from the big four banks. Shares of ANZ have dropped 0.4%, but NAB trades 0.7% higher, while Commonwealth Bank is losing 0.4% and Westpac is leading the group as it trades 0.9% higher. The major miners are lending support to the broader index as both BHP and Rio Tinto advance 1.2%, and iron giant Fortescue Metals adds 1%. Mainland Chinese markets have opened to little change, with the benchmark Shanghai Composite slightly lower by less than 0.1%, while the smaller cap Shenzhen Composite is edging up by 0.2%. Over in Hong Kong the Hang Seng is closed as the island nation celebrates National Day. In South Korea the Kospi is leading gains for the region, trading up by 1.3%, while the Taiex in Taiwan is 0.7% higher. Southeast Asian markets are losing ground in the face of the rally, with the Straits Times in Singapore falling 0.5% and the KLCI in Malaysia losing 0.3%.
Delta Posts Profit, But Shares Tumble
2021-10-13 19:59UTC
Shares of Delta Airlines, which had been seeing a recovery recently on hopes for reopening and increased travel, saw a drop of nearly 6% yesterday after reporting third quarter profits and revenues that topped analyst’s expectations. Despite the earnings beat, both revenues and profits remain below 2019 levels. Shares fell as Delta management warned of rising fuel costs impact on fourth quarter results. On a more positive note, this is the first quarter since the pandemic began in which the airline was able to post a profit without taking Federal aid into account. However, the rising fuel costs are expected to lead to a loss in the fourth quarter. The fuel news shouldn’t have come as a surprise given the ongoing global energy crisis that has crude oil prices spiking as demand surges and supply is unable to keep pace. Rivals United and American Airlines saw their own shares fall 4% and 3.4% in sympathy as rising fuel costs are certain to impact them as well. Delta reported a third quarter profit of $1.2 billion, which is a drop of 19% from 2019 results. It was the second quarterly profit for the airline since the start of the pandemic, but the first without taking Federal assistance into account. Revenues came in at $9.15 billion, versus expectations for $8.4 billion in revenues. Delta management said revenues were aided by customer willingness to pay for upgrades and premium features and services such as extra leg room. While management said the percentage of customers paying for perks was higher than in September 2019 they declined to give specifics.
U.S. Daily Market Review
2021-10-13 13:03UTC
The S&P-500 fell partly as most traders and investors are focused on the fresh inflation data.The Dow Jones Industrial Average dropped around 160 points, or 0.5%. The Nasdaq Composite added 0.4%.Technology shares rallied amid lower Treasury yields and the perception that those business giants are able to pass on higher costs to their clients.In reality, two-year Treasury yields soared to 18-month highs after data indicated in that inflation advanced more than predicted in September.The consumer index CPI gained 0.4% in September versus to the prior month of 5.4% on annual basis, as reported by the Labor Department.JPMorgan shares tumbled more than 2% following the report despite the strong earnings report.
GBP/USD Trades Higher
2021-10-13 12:49UTC
GBP/USD added further ground.In reality,  GBP/USD exchange rate entered into more stable position this morning following the UK’s latest GDP data. Currently, the GBP against the USD trades at 1.3594, which is a gain of $0.00106 or 0.08% from the previous close of 1.35843.The daily trading range is from $1.3575 to 1.3644, while the trading volume is 109.179K.The U.S. economy surged by 0.4% in August, recovering from July’s downwardly revised loss of 0.1%.In the meantime, the UK economy is still below pre-pandemic levels, and growth for the third quarter of 2021.Brexit issues could also have impacts on the Pound today, as they have done in months past.Moreover, Brussels is likely to offer concessions to London in an attempt to resolve the dispute over the Northern Ireland protocol.
European Daily Market Review
2021-10-13 07:26UTC
European stocks partly declined today amid issues over global growth.In fact, European stocks extended losses on Wednesday as investors were unnerved by the prospect of higher inflation slowing rally.The German DAX slipped 0.15%, the French CAC-40 lost 0.45% and the British FTSE-100 dropped 0.50%.German business software group SAP soared 2.6% after it raised its full-year outlook.The pan-European Stoxx 600 declined 0.4% in early trade.U.K. GDP added 6.9% in August versus the the same period last year.The British economy fell 0.8% below its pre-Covid level, according to the Office for National Statistics.
Gold Prices Advanced
2021-10-13 06:34UTC
Gold prices rallied this morning during the Asian hours, entering into a steady trend. This is happening just ahead of the U.S. Federal Reserve’s latest meeting minutes and inflation data. Now, the yellow metal trades at $1763.40, which is another gain of $3.72 or 0.21% from the previous close of 1759.68.The daily trading range is from $1759.04 to 1763.59, while the trading volume is 56.521K.Fed’s vice Chairman Richard Clarida stated that the conditions needed for the Fed to begin asset tapering have “all but been met.” The global economic recovery from COVID-19 is being disrupted by supply chain issues and inflationary pressures, according to the International Monetary Fund.The U.S. JOLTs job openings index was 10.44 million in August, a peak mark and a benchmark of a falling labor market.In the meantime, silver and palladiumgained 0.1%.
Asian Daily Market Review
2021-10-13 01:43UTC
Asian markets have recovered from an early session dip to trade broadly higher despite overnight losses on Wall Street. Investors are looking ahead to the release of China’s trade data for September later in the day as well as the September Federal Reserve meeting minutes overnight. The U.S. earnings season will also kick off when JPMorgan reports before markets open on Wall Street. In Japan the Nikkei fell o.6% at the open, but has recovered and has a 0.4% gain heading into the lunch break. Shares of Softbank Group are 0.2% lower, while Sony is edging up by less than 0.1%. Among the major exporters Toyota is 0.5% lower, Panasonic is falling 1%, and Canon is slightly higher by 0.1%. Australia’s S&P/ASX 200 is also fractionally higher, adding less than 0.1%. The big four banks are weighing on the market as ANZ shares drop 0.4%, NAB inches lower by less than 0.1%, Commonwealth Bank is falling 0.7%, and Westpac has a 0.9% loss. Major miners are mixed, with BHP adding 0.1%, but Rio Tinto dropping 1.5%. Mainland Chinese markets have opened little changed with the benchmark Shanghai composite rising slightly by 0.1%, while the smaller cap Shenzhen Composite is inching lower by less than 0.1%. In Hong Kong the Hang Seng is closed for morning trade due to a warning over Typhoon Kompasu which lasts until noon local time. In South Korea the Kospi is leading the region with a 1.1% gain, and in Taiwan the Taiex has a 0.4% gain. Southeast Asia is also gaining today, with the Straits Times in Singapore advancing 0.7%, while Malaysia’s KLCI adds 0.2%.
Data Shows Third Quarter Earnings To Be Best
2021-10-12 21:20UTC
As investors prepare for the start of the third quarter earnings season there’s some historical data that indicates they may be in for a pleasant surprise. In looking back at the S&P 500 since 2000, the months of October and November show the greatest increase in the index on average. That period also coincides with the third quarter earnings season, indicating that stocks may be preparing to pop higher in the coming weeks. Of course this is also the time of year when management teams are beginning to talk about the coming year, and that’s usually with optimistic tones. That gets investors excited and puts them in the mood to buy. According to data since 2000 the S&P 500 rises 2.5% on average during the period from mid-October to late November. That’s followed by a drop of 0.3% from January to mid-February. Obviously this end of year period when the third quarter earnings are coming in is the sweet spot for markets. Interestingly this is the first time in four quarters that analyst earnings estimates are actually heading broadly lower as earnings season approaches. Also, stocks have moved off their highs ahead of this reporting season, which is something not seen for quite a few quarters. But that could turn out to be a good thing. Another positive heading into this earnings season is that the reopening trade is coming back, and with an increased vaccination rate in most developed nations it could really gain traction as we head into the year-end. Taken all together investors, who may have been on the sidelines since September, should get ready to renter the markets.
U.S. Daily Market Review
2021-10-12 16:53UTC
U.S. stock indexes are still without a solid direction choppy session on Tuesday amid concerns over the impact of surging inflation.Job creation in August lost more than half a million to 10.4 million, according to the Labor Department.Tesla inclined 1.8% after data showed the electric vehicle maker sold 56,006 China-made vehicles in September.The USD appreciated to a one-year high on Tuesday amid forecasts the U.S. Federal Reserve will announce a tapering of its massive bond-buying program as early as next month.The USD index marked 94.519, its peak since late September 2020.Shares of Nike Inc secured more than 1.1% to dedicate the largest stimulation to the Dow and the S&P-500.
The USD Is Into A Higher Mode
2021-10-12 11:16UTC
The USD added some ground in today’s session. The USD is largely stimulated by rise of the energy prices. As a matter of fact, advancing energy prices stimulated investors to invest more heavily seek safe havens such as the greenback.Thus, the USD rallied to a nearly three-year high versus the JPY amid the estimates that the U.S. Federal Reserve will announce a tapering of its bond purchases as early as in November.Now, the USD versus the Euro trades at 0.865 EUR, which is a further incline of 0.0002 or 0.02% from the previous close of 0.8652.The daily trading range is from 0.8643 to 0.8658.Moreover, the Fed is expected to launch taper and higher US bond yields, legislative fixture congestion, created in further issues that US and global growth shifted to a lower gear.In fact, the USD index added 0.27% to 94.36.  
European Daily Market Review
2021-10-12 07:46UTC
European stocks lost some territory this morning amid gloomy mode of the markets.The German DAX fell 0.7%, the French CAC-40 dropped 0.84% and the British FTSE-100 lost 0.76%.The pan-European Stoxx-600 tumbled 1% in early trade, with basic resources shedding 1.8% to lead the falling path.The number of job openings in the UK has jumped to a record high, according to the latest official figures.Vacancies reached a whole 1.1 million between July and September, as reported by the Office for National Statistics. The UK unemployment rate was predicted to 4.5%, versus to a rate of 4% before the pandemic.Freight forwarder DSV gained 1.4% after it raised its earnings forecasts for the year.
Crude Oil Prices Fell
2021-10-12 06:36UTC
Oil prices tumbled this morning, falling for the first time in the last four sessions.The market marked a recovery in global demand that is adding to energy shortages in major demanders.Now, oil trades at $80.518, which is a rise of $0.060 or 0.07% from the previous close of 80.458.The daily trading range is from $79.980 to 80.881, while the trading volume is 16.435K. Brent crude slipped 6 cents at $83.59 a barrel at 0440 GMT, after advancing to three-year peak yesterday.U.S. oil dropped 13 cents to $80.39 a barrel, having also secured 1.5% in the previous session. In China, where major industrial regions are suffering from power shortages. The government also reported that it would fully liberalize the country's thermal power market. Rising energy prices also contributed to inflationary pressures. Japan's wholesale inflation was at a 13-year high in September.
Asian Daily Market Review
2021-10-12 02:01UTC
Asian markets are trading broadly lower Tuesday morning following a losing session overnight on Wall Street. There are also concerns over rising inflation, especially in the energy sector, as well as worries that China will crackdown on another private sector. In Japan the Nikkei is trading 1% lower, even though the Yen has weakened significantly against the U.S. dollar overnight as traders move into the greenback in anticipation of the start of tapering in bond purchases from the Federal Reserve. Shares of Softbank Group are falling 3.2%, while Sony edges lower by just 0.1%. Among the major exporters Toyota is edging up by less than 0.1%, Panasonic has a slight gain of 0.1%, and Canon shares are falling 0.7%. Australia’s S&P/ASX 200 is trading 0.4% lower, with the big four banks weighing heavily on the broader market. Shares of ANZ are down 1.2%, NAB is trading 0.8% lower, and Westpac dropping 1.7%, while Commonwealth Bank bucks the falling trend with a small gain of 0.2%. The major miners are mixed for a second consecutive day, with BHP losing 0.2%, but Rio Tinto trading 0.8% higher and helping to support the broader index. Mainland Chinese markets have opened to losses as well, with the benchmark Shanghai Composite losing 0.3% and the smaller cap Shenzhen Composite falling 0.6%. Over in Hong Kong the Hang Seng is falling sharply for a second day and is trading 1% lower. In South Korea the Kospi is 1.6% lower, and Taiwan’s Taiex is matching that with its own 1.6% loss. Southeast Asian markets are mixed, with Singapore’s Straits Times losing 0.7%, while Malaysia’s KLCI is trading 0.2% higher.
JPMorgan Kicks Off Earnings Season
2021-10-11 21:19UTC
Major investment bank JPMorgan is expected to give earnings season a jumpstart when they report on their third quarter results on Wednesday. Expectations are very high given the strength of the second quarter results, the continued rallies in bonds and equities, and the rising interest rate environment that should support the bank for some time to come. JPMorgan has already seen its share price climbing over the past several weeks as the steepening 10-year Treasury curve is providing tailwinds for the financial sector. Bank shares like JPMorgan often do well when interest rates are rising since it allows them to earn more on their cash balances, while also raising the interest rates on the loans and lines of credits they offer to clients. While shares did fall 2.1% yesterday, the stock remains very close to record levels, and is expected to continue performing well into 2022 as the Federal Reserve moves on its tapering plans, and likely begins raising interest rates next year. JPMorgan shares are up over 31% since the start of 2021, and over 75% over the past 12 months as investors have been anticipating the eventual tapering of bond purchases and the rise in interest rates. One area that normally isn’t watched too closely is the banks’ operating leverage, which is the 12-month change in expenses and revenues. Several analysts have suggested that this number might be negative in the third quarter, which would certainly not be good news. However JPMorgan CEO Jamie Dimon seemed unconcerned with the analyst prediction, saying he doesn’t run the company simply to please analysts with its expense number.
U.S. Daily Market Review
2021-10-11 13:18UTC
U.S. stocks gained some territory today as investors weighed rallying oil prices.Additionally, financial stocks surged, shrugging off inflation worries in the run up to third-quarter earnings.Apple Inc, Tesla Inc and Microsoft Corp advanced around  0.6% and 1%, with nine of the 11 major S&P 500 sector indexes into a gaining side.The Dow Jones Industrial Average slipped 110 points, or 0.3%. The S&P-500 dropped 0.2%. The Nasdaq Composite is around the same marks.Goldman on Monday reduced its economic growth estimates. The company reduced its 2022 growth forecast to 4% from 4.4% and took its 2021 estimates down a tick to 5.6% from 5.7%. The USD jumped to its peak of the last three years versus the JPY. Overall, the USD index added 0.054% at 94.214, not far from its one-year high of 94.502 seen earlier this month.
European Daily Market Review
2021-10-11 10:49UTC
European stocks are still without a clear direction in today’s session. The main indexes are still looking for direction after a volatile week.The German DAX fell 0.31%, the French CAC-40 dropped 0.24% and the British FTSE-100 inclined 0.20%.The pan-European Stoxx 600 moves around the flatline in early trade, with travel and leisure stocks losing 1.1%.The three European Central Bank policymakers on Friday analyzed the possibility of exiting pandemic-era monetary and fiscal support initiatives. The ECB is very expected to make a decision on its extraordinary stimulus plans in December.Germany’s 10-year Bund yield rallied to its peak since May on Monday.British online fashion retailer ASOS tumbled 14.2% after it warned that higher logistics costs and supply chain issues.German real estate investor Adler Group retreated 1.3% after it decided to sell residential and commercial property of around 1.49 billion euros ($1.73 billion) to rival LEG Immobilien.
Gold Prices Dropped
2021-10-11 07:51UTC
Gold prices retreated this morning during the Asian hours, as the U.S. Federal Reserve is likely to start asset tapering as per its timeline despite the weaker numbers. Now, gold trades at $1756.28, which is another loss of $0.57 or 0.03% from the previous close of 1756.85.The daily trading range is from $1750.55 to 1760.87, while the trading volume is 86.727K.The USD, which is into a negative relationship to the previous metals, surged this morning.Additionally, the benchmark U.S. 10-year Treasury yields jumped to its peak of early June 2021.The U.S. Labor Department’s jobs report indicated in that non-farm payrolls were at 194,000, and the unemployment rate was 4.8%, in September. SPDR Gold Trust (P:GLD) holdings declined 0.2% to 985.05 tons on Friday from 986.54 tons on Thursday.Meanwhile, silver slipped 0.1% while platinum eased 0.4% to $1,022.41.
Asian Daily Market Review
2021-10-11 02:16UTC
Asian markets are trading broadly higher Monday morning amidst a rally in Japan sparked by Prime Minister Fumio Kashida’s comments that there are no plans to change the capital gains taxes in Japan. That’s also creating weakness for the Yen, further boosting the rally in Japanese shares. Japan’s Nikkei is trading 1.8% higher on all the bullish news, with shares of Softbank Group rising 3.3%, and Sony shares rallying 4.1% higher. Among the major exporters Toyota is gaining 2.6%, Panasonic is surging 7% higher, and Canon is adding 1.7%. In Australia the S&P/ASX 200 is losing 0.4%, although the big four banks are mixed today. Shares of ANZ are slightly lower by less than 0.1%, NAB shares are edging lower by 0.2%, but Commonwealth Bank shares are rising 0.3%, while Westpac inches lower by less than 0.1%. The major miners are also mixed today as BHP is edging lower by less than 0.1%, but shares of Rio Tinto are gaining 0.6%. Mainland China is seeing some modest strength at the open as the benchmark Shanghai Composite adds 0.3% and the smaller cal Shenzhen Composite is trading 0.4% higher. Over in Hong Kong the Hang Seng is rallying and advancing 1.9% to lead gains for the region. In South Korea the Kospi is 0.1% lower and Taiwan’s Taiex has a loss of 0.4% in early trade. Southeast Asian markets are making gains too, with the KLCI in Malaysia 0.6% higher, the Straits Times in Singapore adding 0.4%, and Indonesia’s Jakarta Composite trading 0.2% higher. Elsewhere U.S. equity futures are headed lower, and cryptocurrencies are mixed and little changed.
Crude Oil Rally Shows No Sign Of Ending
2021-10-08 22:16UTC
Crude oil finished a seventh consecutive winning week with a move to a nearly seven year high intraday, although by the close it had retreated off its highs. The U.S. benchmark West Texas Intermediate crude traded up to $80.09 a barrel early in the session before pulling back to close at $79.35 a barrel. It was the first time since November 2014 for WTI crude to trade above $80 a barrel. In addition, the seven week winning streak is the longest since December 2013. Even so, it doesn’t look as if gains for crude will be ending any time soon, given the strong fundamentals currently in place. In fact, most analysts are now expecting crude to rise to $100 a barrel by the end of the year, and some are even projecting the possibility of $200 a barrel oil sometime in 2022. The rise in crude prices has basically boiled down to supply and demand. There is a huge disconnect, with demand rising rapidly, while supplies remain flat at best. The demand picture is a combination of increased demand due to the recovery in global economies and the energy crisis unfolding in Europe and Asia. That scenario doesn’t look as if it will change any time soon, so traders expect demand to remain elevated. On the supply side OPEC has steadfastly refused to raise production levels, and indeed they were unable to meet their own production goals in August. In addition, the U.S. Department of Energy on Friday announced that they would not be releasing any crude from the strategic reserves to help put a cap on crude prices.
The USD Into A Steady Trend
2021-10-08 19:12UTC
The USD is into a static mode amid falling U.S. employment data.This comes as most investors and traders bet that the lacklustre numbers are not likely to discourage the Federal reserve from starting a tapering program as early as next month.Presently, the USD versus the Euro trades at 0.863 EUR, which is a loss of 0.0014 or 0.16% from the previous close of 0.8651. The daily trading range is from 0.8633 to 0.8661.In the meantime, the Labor Department reported that employment report from today showed that nonfarm payrolls jumped by 194,000 jobs last month. The USD index fell 0.1% at 94.102, not far from the annual peak of 94.504.The falling rate of the USD boosted the GBP’s steady path, putting it on track to close out the the weekly rise of 0.6%. 
U.S. Daily Market Review
2021-10-08 18:59UTC
The major indexes only partly moved with the S&P 500 entering into a rising path. This is taking place amid increased forecasts for a winning week.The Dow Jones Industrial Average added 25 points. The technology-focused Nasdaq Composite dropped 0.3%. Comcast Corp tumbled 4.3% after Wells Fargo reduced its price target on the media company.Charter Communications Inc retreated 4.5% after Well Fargo downgraded that cable operator to “underweight” from “overweight”.The Labor Department’s nonfarm payrolls announced that the U.S. economy in September produced in less jobs of the last nine months.The unemployment rate sunk 4.8% from 5.2% in August and average hourly earnings rose 0.6%.
European Daily Market Review
2021-10-08 09:21UTC
European markets lost some ground today after a roller-coaster week for global stocks.The pan-European Stoxx-600 declined 0.35% in early trade, while autos gained 1.1%.The German DAX fell 0.40%, the French CAC-40 slipped 0.52% and the British FTSE-100 lost 0.05%.Denmark’s Netcompany advanced 5.6% to lead the Stoxx 600 after announcing the acquisition of Luxembourg’s Intrasoft International.Euro zone bond yields soared today as the advance of the U.S. debt ceiling eased concerns over a U.S. Treasury default.British two-year government bond yields on Friday jumped to their peak since February 2020. Meanwhile, the Bank of England is close to its first post-pandemic interest rate hike.The GBP entered into a steady pattern but was set for its best week versus the common currency.Last month, the GBP rallied to a two-month bottom versus the euro.
Gold Prices Slipped
2021-10-08 08:19UTC
Gold price dropped this morning during the Asian hours, but preserved its steady path.This comes as many traders and investors refrained from making big positions just ahead of the latest U.S. jobs report.Now, gold trades at $1755.31, which is a minor recovery of $0.14 or 0.01% from the previous close of 1755.17.The daily trading range is from $1753.22 to 1760.45, while the trading volume is 76.289K.The USD in general is into a negative relationship the precious metals, rallied today but is still below a one-year high.The U.S. jobs report is coming out later today later. The number of initial jobless claims during the past week also sunk to 326,000, the most of the last quarter.The U.S. Senate on Thursday approved legislation to temporarily raise the federal government’s $28.4 trillion debt limit.In the meantime silver retreated 0.4%, while platinum gained 0.2%. 
Asian Daily Market Review
2021-10-08 01:59UTC
Asian markets are trading mostly higher on Friday morning following another overnight winning session on Wall Street, where technology shares are continuing their recovery from the September losses. However many concerns remain that could turn investor sentiment sour, including the looming energy crisis, supply chain issues, and of course the continuing COVID pandemic. Japan’s Nikkei is leading gains across the region today, rising 2.1% as the Yen continues weakening towards the 112 level versus the U.S. dollar. Shares of Softbank Group are surging 4.8% higher, while Sony shares are adding 1.7%. Among the major exporters Toyota is 3.4% higher, Panasonic is advancing 3.1%, and Canon is adding 4.2%. In Australia the S&P/ASX 200 is trading 0.8% higher, although the big four banks are weighing on the broader market. ANZ is trading 0.1% lower, while NAB is 0.7% higher, Commonwealth Bank is up 0.4%, and Westpac shares are falling 0.3%. The major miners are providing good support though, with BHP advancing 3.2% and Rio Tinto trading 3.9% higher. Mainland Chinese investors are returning to markets for the first time in a week, and the benchmark Shanghai Composite is adding 1%, while the smaller cap Shenzhen Composite has a 1.1% gain. Meanwhile over in Hong Kong the Hang Seng is following the lead of the mainland and adding 0.7%. South Korea’s Kospi is showing weakness today and is slightly lower by less than 0.1%, and the Taiex in Taiwan is edging higher by 0.2%. Southeast Asian markets are edging higher as well, with the Straits Times in Singapore 0.2% higher, and the KLCI in Malaysia up by less than 0.1%.
Old School Auto Makers Are On Fire
2021-10-07 19:48UTC
Old school auto makers Ford and General Motors were on fire yesterday, with the former adding 5.8% and the latter closing 4.9% higher. In fact, over the past month both are up roughly 20% after revealing their detailed plans to take on the current king of electric vehicle manufacturing – Tesla. Both rallied yesterday in response to General Motors announcement that it is planning on doubling its sales by 2030 with a flurry of new model releases. It believes it can increase its operating margin from this year’s 7.9% to a more robust 12-14%. One of the new electric vehicle models unveiled is an all-electric Silverado pickup truck. Consumers will be able to get a first look at the newly designed EV Silverado at the 2022 Consumer Electronics Show in January. GM also plans on boosting revenues through a number of software subscriptions and services in the coming years. If GM can make good on these targets its shares are substantially undervalued at current levels. As for Ford, it announced a partnership with SK Innovations last month to build two mega-construction sites, one in Tennessee and the other in Kentucky, where electric trucks and batteries will be manufactured. Ford has already released an all-electric SUV called the Mach-E and has already released its plans on manufacturing an all-electric F-150 Lightning pickup truck. The Tennessee location will be dedicated to SUV and pickup manufacturing, while the Kentucky location will employ 5,000 people in creating the batteries for the Ford lineup. Obviously these plans are a step into the future for the old school auto companies, proving they may be down, but they are far from out.
U.S. Daily Market Review
2021-10-07 13:49UTC
The main indexes advanced as Congress appeared to near a deal that would raise the debt limit in the coming weeks.The Dow Jones Industrial Average added 405 points, or 1.2%, boosted by surges  of Visa, Nike and Home Depot. The S&P-500 secured 1.15% and the technology-focused Nasdaq Composite added 1.2%. Twitter inclined 2.6%, Nvidia popped 1.7% and AMD gained 1.6%. Facebook is into recovery after JPMorgan stated that was time to buy the recent dip on the stock.Official numbers indicated in that the Americans officially applying fir new claims for jobless benefits sunk last week by the most of the last quarter.    The U.S. Senate is getting closer towards approving $480 billion rise in Treasury Department borrowing authority.
European Daily Market Review
2021-10-07 07:48UTC
European stocks entered into recovery today, extending a week that has seen wild swings.The German DAX added 1.28%, the French CAC-40 gained 1.19% and the British FTSE-100 inclined 1.02%.The pan-European Stoxx-600 created 0.9% in early trade, with autos climbing 1.5% to lead the rising path.Royal Dutch Shell advanced 0.4% after saying that soaring natural gas and electricity prices.Euro zone bond yields calmed down on Thursday as energy prices continued to dip, recovering from a solid sell-off a day earlier.German industrial output lost more than the estimates in August due to supply chain disruptions.
Crude Oil Prices Fell
2021-10-07 06:08UTC
Oil prices slipped this morning during the Asian hours.Oil retreated for a second session as U.S. crude oil supply data indicated in a solid rise.Now, oil trades at $77.001, which is another incline of $0.096 or 0.12% from the previous close of 76.905.The daily trading range is from $76.548 to 77.201, while the trading volume is 10.818K.Wednesday’s U.S. crude oil supply data from the U.S. Energy Information Administration demonstrated a surge of 2.346 million barrels in the week to Oct. 1.Crude oil supply data from the American Petroleum Institute released the day before, showed a build of 951,000 barrels.Earlier this week, the Organization of the Petroleum Exporting Countries and allies (OPEC+) announced that will follow its plans for a gradual rally in oil output.
Asian Daily Market Review
2021-10-07 01:40UTC
Asian markets are trading higher on Thursday morning after the amazing turnaround overnight on Wall Street. The Dow made its largest daily swing since December, while the S&P 500 had its largest daily swing since February. Technology led the way higher. Investors have also been encouraged by progress on the U.S. debt ceiling. Japan’s Nikkei is advancing 1.2% as the Yen remains quite weak versus the U.S. dollar. Shares of Softbank are trading 1.3% higher, while Sony shares are up by 1.1%. Among the major exporters Toyota is trading 0.9% higher, Panasonic is flat with a loss of less than 0.1%, and Canon is trading with a 0.5% gain. In Australia the S&P/ASX 200 has added 0.6% as the big four banks are providing good support for the broader index. Shares of ANZ are trading 0.7% higher, NAB is adding 1.2%, Westpac is advancing 0.9%, but Commonwealth Bank has a slight loss of 0.1%. Meanwhile the major miners are mixed, with BHP falling 0.3% and Rio Tinto shares rising 0.3%. Mainland Chinese markets are still closed for the week-long Golden Week holiday, but will resume trading tomorrow. Over in Hong Kong the Hang Seng has jumped 1.6% at the open to lead gains for the region. South Korea’s Kospi is trading 1.2% higher, and the Taiex in Taiwan is matching that with its own 1.2% advance. In Southeast Asia markets are mixed though as the Straits Times in Singapore adds 0.6%, but Malaysia’s KLCI is bucking the rising trend from around the region to trade 0.4% lower. In Indonesia the Jakarta Composite is unchanged at the open.
Is Moderna A Buying Opportunity?
2021-10-06 19:21UTC
Moderna shares fell another 6.5% yesterday, giving the pharmaceutical company a total loss of roughly 25% over the past week. The selloff comes as several developments have hurt not only Moderna, but the COVID vaccine manufacturers in general. Chief among the recent concerns for Moderna investors was the announcement late last week by Merck regarding their potential oral antiviral treatment for COVID. The company announced that results have been very promising, and they would be seeking emergency use authorization from the U.S. Food and Drug Administration. While vaccines are likely to remain the most important defense against COVID, the oral medication could help alleviate the strain on hospital systems. A second headwind for the COVID vaccine makers was a study out of Canada that linked the COVID vaccines to higher rates of heart inflammation. Even though the condition is extremely rare, it could serve to keep some people from taking the COVID vaccine. Now that these events are priced in, and we can see that they really have a small impact on Moderna’s revenues, is it time to consider buying these much cheaper Moderna shares in anticipation of future growth? Worries revolve around the possibility for the Merck COVID pill to eat into vaccine usage, and Moderna’s revenues by association. And it It’s true that Moderna’s only revenues are coming from its COVID vaccine, making the concerns a fair one. However Moderna has other drugs in its pipeline, including other COVID solutions. And honestly, the existence of a treatment for coronavirus isn’t likely to stop anyone from getting the vaccine. Selling in Moderna appears overdone, creating a buying opportunity.
U.S. Daily Market Review
2021-10-06 13:46UTC
The leading U.S. indexes are into a falling side as this month’s volatility is still seen. This is taking place amid issues over higher rates and rising inflation.The Dow Jones Industrial Average fell 220 points, dragged down by a 3% loss in Dow Inc. The S&P-500 dropped 0.5%. The technology-focused Nasdaq Composite dipped 0.2%.The USD advanced today and headed towards the 1-year high touched last week as surging energy prices.Boeing and General Electric slipped 2% and 1%, accordingly. Cruise lines Carnival Corp. tumbled little more than 3%.Bank of America Corp announced that it had raised its U.S. minimum hourly wage to $21. Bank of America in May disclosed plans to boost its minimum wages for its U.S. employees.U.S. private payrolls rallied more than the forecasts in September.Private payrolls soared 568,000 jobs last month, as reported by the ADP National Employment Report.In reality, Data for August was revised lower to show 340,000 new job creation instead of the previously announced reported 374,000.
European Daily Market Review
2021-10-06 08:33UTC
The major European stocks lost some side as a surge in oil prices higher issues over rising inflation.The German DAX slipped 1.94%, the French CAC-40 lost 1.79% and the British FTSE-100 dropped 1.44%.The pan-European Stoxx-600 also tumbled 1.5% in early trade.The GBP depreciated half a percent versus the USD amid rallies of energy prices. The sterling sunk to as low as $1.3555.Deutsche Telekom declined 4.1% after Goldman Sachs sold shares worth 1.58 billion euros ($1.83 billion).Bayer AG gained 0.7% after the German agricultural and pharmaceuticals firm won its first trial over claims its Roundup weedkiller causes cancer.Tesco advanced 4.5% as Britain’s biggest retailer raised its full-year outlook.Danish medical device company Ambu fell more than 9%.Euro zone yields soared as a government bond sell-off extended on today amid rallying worries over inflation.
Gold Prices Fell
2021-10-06 06:34UTC
Gold prices dropped this morning during the Asian hours as the USD surged and U.S. Treasury yields rose. The markets are now concentrated on the latest U.S. jobs report, coming out later this week.Now, gold trades at $1753.53, which is another loss of $6.09 or 0.35% from the previous close of 1759.62.The daily trading range is from $1750.31 to 1760.10, while the trading volume is 64.811K.The USD which is into a negative relationship to the precious markets advance today and still around its best levels of 2021.The National Bank of Poland is expected to purchase another 100 tons of gold for its reserves in 2022.The Reserve Bank of India will report its decision on Friday.In the meantime, silver fell 0.4% and palladium slipped 0.3%.
Asian Daily Market Review
2021-10-06 01:58UTC
Asian markets are taking their lead from Wall Street once again on Wednesday and rising broadly in response to the overnight gains in the U.S. The U.S. dollar has regained its strength versus rivals ahead of the upcoming U.S. non-farm payrolls report, and technology shares are recovering from their losses over the past two sessions. Japan’s Nikkei is trading 0.8% higher as the Yen is losing steam versus the U.S. dollar. Shares of Softbank Group are flat today, while Sony shares have a gain of 1,1%. Among the major exporters Toyota is dropping 2.2%, while Panasonic adds 1% and Canon shares are rallying 1.9% higher. In Australia the S&P/ASX 200 is edging up 0.2% as the high level of COVID cases weighs on investor sentiment. The big four banks are weighing slightly on the broader market after the Reserve Bank of Australia maintained a dovish tone in yesterday’s monetary policy statement. Shares of ANZ are 0.3% lower, NAB is down 0.2%, Commonwealth Bank is plunging 2.3%, and Westpac is trading 0.4% lower. Mainland Chinese markets remain closed for the Golden Week holiday and will reopen on Friday. Over in Hong Kong the Hang Seng has opened slightly lower, dropping by less than 0.1%. Investor sentiment has improved by the solution to the Evergrande crisis and by the recovery of the tech sector overnight on Wall Street. In South Korea the Kospi is adding 0.8% and in Taiwan the Taiex trades 0.7% higher. Southeast Asian markets are also rising today, with Singapore’s Straits Times Index adding 0.5% and the KLCI in Malaysia advancing 0.4%.
U.S. Daily Market Review
2021-10-05 14:09UTC
The major indexes are into recovery following. Wall Street’s main indexes opened higher.The Nasdaq Composite added 57.38 points, or 0.40%, to 14,312.86 at the start of the session. The S&P-500 inclined 9.41 points, or 0.22%, at 4,309.87.The Dow Jones Industrial Average rallied 32.33 points, or 0.10%.U.S. services industry activity soared September, but growth is somewhat limited by a persistent shortage of inputs.The Institute for Supply Management announced today that its non-manufacturing activity index surged to 61.9 last month from 61.7 in August. The U.S. trade deficit soared to record peak in August, stimulated by imports as businesses inventories grew.In reality, the trade deficit surged 4.2% to $73.3 billion last month. This is the biggest reading since the government started tracking the series, according to the Commerce Department.Hertz Corp. secured 4.66%. Hertz's stock advanced 2.9% in morning trading.
European Daily Market Review
2021-10-05 10:48UTC
European stocks added some ground with regional investors brushing off retreats across the Atlantic.The German DAX added 0.30%, the French CAC-40 gained 0.69% and the FTSE-100 rallied 0.67%.The pan-European Stoxx-600 also secured 0.7% by late morning, with banks leading the rising side of 1.6%.The GBP jumped to a three-week peak against the euro. In fact, the sterling regained some lost ground last week as traders turn their attention back to the possibility of interest rate rises in Britain.Business growth in the euro zone is still solid last month but was hit by ongoing supply issues.IHS Markit’s final composite Purchasing Managers’ Index (PMI) dropped to 56.2 last month from August’s 59.0.Euro zone government bond yields moved around the peaks from last time as oil prices hit a three-year peak.    
Crude Oil Prices Advanced
2021-10-05 06:28UTC
Oil prices jumped today, soaring to its peak marks of the least three years.Oil prices added to the rising path during the previous session after OPEC announced they will preserve a cap on crude supplies.Now, oil trades at $77.685, which is a gain of $0.091 or 0.12% from the previous close of $77.594.The daily trading range is from $77.449 to 77.971, while the trading volume is 13.947K.The Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia, yesterday announced that will keep the same the agreement to boost oil production only gradually.Oil prices have already surged more than 50% on annual basis. Meanwhile, OPEC+ was worried that a fourth global wave of COVID-19 infections could negatively impact demand recovery.
Merck Shares Rally On Potential Oral COVID Drug Approval
2021-10-04 18:22UTC
Shares of pharmaceutical company Merck have continued higher yesterday following the more than 8% advance last Friday after announcing the successful trial of an oral COVID-19 antiviral medication. The drug, called molnupiravir, has showed promising results in phase three trials, and Merck is planning on seeking emergency use authorization from the U.S. Food and Drug Administration. Shares of vaccine makers Moderna, Pfizer, and BioNTech were sharply lower on the news. Anthony Fauci, the leading infectious disease expert in the U.S., said the data from the trials looks “very promising” and believes that the FDA will act with all speed to approve the drug for use once an application is submitted. If approved, molnupiravir will become the first oral antiviral medication to receive FDA approval. One huge benefit of an oral treatment is that it doesn’t require a healthcare facility for administration. Patients would be able to self-administer at home, thus alleviating the massive burden on hospitals around the globe. It also means that the drug would be able to reach many more patients who are moderately affected by the disease, since there would be no need for them to visit a hospital for treatment. Some doctors have already said that Merck’s drug could be a game-changer in bring the pandemic under control. Atea Pharmaceuticals, Roche, and Pfizer are also developing antiviral pills. Atea’s stock was up almost 20% in response to Merck’s successful data. Merck already has a deal to supply 1.7 million courses of treatment to the U.S. and has said it can produce up to 10 million courses through the end of 2021, if it receives emergency use authorization.
U.S. Daily Market Review
2021-10-04 14:04UTC
The major U.S. indexes are into a falling side.Both S&P-500 and Nasdaq Composite entered into a falling mode at the start of the week. The Dow Jones Industrial Average added some ground.The U.S. Supreme Court on Monday cleared the way for New York to collect a $200 million extra charged levied on opioid manufacturers and distributors.Social media leader Facebook dropped 3% after being accused of a “betrayal of democracy.”On the other side, Tesla surged 3% after announcing that  this weekend that it delivered 241,300 electric vehicles during the third quarter, a massive increase over its initial predictions.General Motors reported that will all of its 30 all-electric models by 2025. The company will invest by2025 a whole $35 billion in its electric launch.The USD depreciated versus the main pairs, pulling back from the 1-year high hit last week.The USD Index slipped 0.2% lower at 93.736. The index recovered 0.8% last week to its peak of the last year.
European Daily Market Review
2021-10-04 07:32UTC
European stocks are still without a solid market direction in today's session.The German DAX gained 0.06%, while the CAC-40 slipped 0.42% and the British FTSE-100 dropped 0.07%.The pan-European Stoxx-600 retreated 0.1% in early trade.UK telecoms group BT Group and Nordea Bank were the top losers after losing more than 6%. Тhe markets are affected by surging issues such as inflation, elevated bond yields and China Evergrande’s financial troubles.President Tayyip Erdogan yesterday announced that the country will soon launch agricultural cooperatives to open about 1,000 new markets in order to guarantee“suitable” prices for consumer goods in wake of a massive inflation of around 20% on annual basis.    
Gold Prices Rallied
2021-10-04 06:10UTC
Gold prices surged this morning during the Asian hours, advancing close to a near two-week peak.This takes place as the USD lost some side and offset bets that the U.S. Federal Reserve could begin asset tapering soon.Now, gold trades at $1760.39, which is an addition of $0.27 or 0.02% form the previous close of 1760.12.The daily trading range is from $1757.68 to 1765.59, while the trading volume is 82.197K.The USD is into a negative relationship to the precious market, fell to its bottom level since Sep. 29.The Reserve Bank of Australia will report its policy decision tomorrow. The Reserve Bank of New Zealand is due on Wednesday.Meanwhile, demand for physical gold jumped in the largest market of China. In the meantime, silver and platinum advanced 0.4%.
Asian Daily Market Review
2021-10-04 01:49UTC
Asian markets are mixed as they head into October, with investor worries over rising inflation weighing on sentiment in some areas. Mainland Chinese markets remain closed through Thursday for the Golden week holiday, but Hong Kong is trading. Australia is also celebrating a public holiday, but the ASX is open for trading. Japan’s Nikkei is trading 0.6% lower, despite the Yen retreating against the U.S. dollar. Shares of Softbank Group are plunging 2.7% today, while Sony shares are flat with a slight loss of less than 0.1%. Among the major exporters Toyota shares are 0.5% lower, Panasonix=c shares trade 2.9% lower, and Canon shares are 0.8% lower. In Australia the S&P/ASX 200 is trading 1% higher in light volumes. Shares of the big four banks are providing strong support to the broader market, with ANZ 2.1% higher, NAB adding 1.7%, Commonwealth Bank rocketing 4.1% higher, and Westpac adding 1.5%. The major miners are falling however, with BHP edging lower by 0.2%, while Rio Tinto is dropping 0.6%. Mainland Chinese markets may be closed, but Hong Kong is open for trading and the Hang Seng is 0.8% lower as investor sentiment has turned negative due to trading in Evergrande Group has been suspended, along with its property management company. In South Korea the Kospi is falling 1.6%, while Taiwan’s Taiex is unchanged in early trade. Southeast Asian markets are making gains today, with the Straits Times Index in Singapore leading gains for the region as it rises 1.6%, while Malaysia’s KLCI trades 0.3% higher, and the Jakarta Composite in Indonesia is flat and little changed at the open.
Can OPEC Halt The Rally In Crude?
2021-10-01 19:43UTC
Crude finished mixed and slightly changed on Friday, but that didn’t stop the commodity from notching a sixth weekly gain, and a sixth quarterly gain as the global economic recovery has not only spiked demand for crude, but has also seen producers stretched to their limits. Now OPEC is set to meet on Monday to decide on production increases going forward, and the most recent news indicates that the cartel could announce a larger increase than the 400,000 barrels already agreed to back in July. There’s been no indication of how large an increase might be announced, but it seems that the U.S. and India have been lobbying for increases in order to put a halt to the rally in crude that’s seen both the global benchmark Brent crude and the U.S. benchmark West Texas Intermediate crude rise by more than 50% since the start of the year. However, September figures indicate that OPEC only increased production by 360,000 barrels instead of the 400,000 planned. The shortfall was apparently due to the inability of OPEC members to increase their production. If that’s the case, then maybe OPEC isn’t even able to increase its production. At the same time demand could spike even higher after China called for all its state owned companies to secure winter supplies of crude at any cost. Like Europe and most of Asia, China is facing an energy crunch. That proclamation from Beijing could see demand for crude skyrocket as the entire country’s industry scrambles to secure even more crude. So, no matter what OPEC does Monday crude could continue rising in response to rising demand and constrained supplies.
U.S. Daily Market Review
2021-10-01 14:31UTC
U.S. stocks once gain are into a falling side today even as news of a new oral treatment for Covid-19.The Dow Jones Industrial Average fell 22 points, or less than 0.1%, after gaining around 200 points. The S&P-500 dropped 0.4%, while the tech-heavy Nasdaq Composite tumbled 0.8%.U.S. manufacturing activity advanced further in September, but factories experienced longer delays receiving raw materials.The Institute for Supply Management (ISM) reported that its index gained 61.1 last month from 59.9 in August.U.S. consumer spending rallied more than estimates August, but consumption came lower than initially predicted in the prior month.The Federal Reserve last week boosted its inflation forecasts for this year and announced that could begin reducing its monthly bond purchases as soon as early next month.
European Daily Market Review
2021-10-01 07:35UTC
European markets lost some side today, tracking U.S. and Asian counterparts as global stocks start the fourth quarter on the backfoot.The German DAX fell 1.25%, the French CAC-40 dropped 1.11% and the British FTSE-100 lost 0.90%.The pan-European Stoxx-600 slipped 1% in early trade, with banks shedding 1.8% to lead the falling path. Europe and U.S. manufacturing activity data as well as euro zone inflation readings will be reported later today.Turkish factory activity jumped in September for a fourth straight month as output and new orders further rallied.Growth in activity was slightly slower than the previous month with the Purchasing Managers’ Index (PMI) for manufacturing in Turkey losing 52.5 in September from 54.1 in August, as reported by the Istanbul Chamber of Industry.
Crude Oil Prices Fell
2021-10-01 06:40UTC
Oil prices are into a lower side  on the expectations the OPEC+ is likely to step up a planned surge in supply levels.Now, oil trades at $74.86, which is a further loss of $0.17 or 0.23% from the previous close of 75.03.The daily trading range is from $74.75 to 75.57, while the trading volume s 28.715K.Moreover, brent crude futures dropped 7 cents, or 0.1%, to $78.24 a barrel at 0415 GMT.The market is now focused on the coming meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, together known as OPEC+, on Monday.Washington is concerned with high oil prices and the topic was brought up for a meeting between U.S. national security adviser Jake Sullivan and Saudi Crown Prince Mohammed bin Salman earlier this week. 
Asian Daily Market Review
2021-10-01 01:32UTC
Markets across Asia are slipping lower on Friday morning after more losses were racked up overnight on Wall Street, finishing a bad September with more bad performance. Unfortunately for investors there’s no signs yet that October will be any better for equity markets. Japan’s Nikkei is trading 0.9% lower today as the Yen takes back the losses suffered against the U.S. dollar over the past week. Investor sentiment hasn’t been helped by data showing that sentiment at large manufacturers has improved over the past three months. Shares of Softbank are trading 0.3% lower, while Sony shares are falling 1.7%. Among the major Japanese exporters shares of Toyota are 0.9% lower, Panasonic shares are falling 2%, and Canon shares are modestly lower by 0.3%. In Australia the S&P/ASX 200 is trading 2.1% lower to lead losses for the region. Shares of the big four banks are plunging today, with ANZ, NAB, and Westpac all trading 2.7% lower, while Commonwealth Bank shares are plummeting 4.2%. The major miners are also weighing on the broader index as BHP trades 2.1% lower and Rio Tinto is falling 2.7%. Markets are closed in mainland China and in Hong Kong today. While Hong Kong markets will reopen next Monday, the mainland Chinese markets are closed for Golden Week and won’t reopen until next Friday October 8. South Korea’s Kospi is losing 1.3% today, and in Taiwan the Taiex is lower by 1.2%. Southeast Asian markets are also trading lower, with the Straits Times Indes in Singapore falling 0.8%, while Malaysia’s KLCI is 0.2% lower, and the Jakarta Composite in Indonesia is flat at the open.
Electronic Arts Knows How To Play The Game
2021-09-30 19:43UTC
After falling nearly 15% from its September 14 high to bottom out on September 21, shares of Electronic Arts have been roaring back recently. Just yesterday the stock added 3.2%, although there was no news or new developments from the company. One potential driver is the release of the new MMO New Worlds from Amazon, which has become a smash hit in the week since its release from beta. It’s possible Electronic Arts is benefitting from being in the same gaming space. On a yearly basis however shares are up a nearly meaningless 0.2% as the $146 level has acted as resistance for the stock all year long. Shares closed yesterday at $143.61, putting them roughly 1.5% below this key area. A break above the $146 level could signal a new rally incoming for Electronic Arts, which wouldn’t be too much of a surprise with the holiday season approaching. Shares are already up 12.5% over the past five sessions. The stock is also well loved by Wall Street, with seven of 34 analysts rating the stock a strong buy, while 16 more call the stock a buy. The remaining analysts recommend holding the stock, and there are no sell ratings on shares. As a leading global producer and distributor of video games Electronic Arts has positioned itself strongly in the industry by creating a stable of titles that has smoothed out the usual cash flow volatility seen in the industry. Plus, management has become more aggressive in returning capital returns to shareholders. The potential for a dividend increase or a substantial share buyback program could send shares significantly higher.
U.S. Daily Market Review
2021-09-30 13:32UTC
U.S. stocks partly inclined as the market get to close out a volatile mode.The S&P-500 started 11.21 points higher, or 0.26%, at 4,370.67. The Nasdaq Composite added 70.16 points, or 0.48%, to 14,582.60 at the very start of the session. Tech stocks entered into a recovery after struggling this week because of a rapid rise in rates. The 10-year Treasury yield dropped 3 basis points to 1.52% on Thursday.The number of officially unemployed Americans advanced last week for the third straight week. In fact, initial claims for state unemployment benefits jumped 11,000 to a seasonally adjusted 362,000 for the week ended Sept. 25, as reported by the Labor Department.The USD tumbled from a one-year peak. After some pressure amid surge inU.S. weekly jobless claims.
European Daily Market Review
2021-09-30 08:26UTC
European stocks surged today after losses in Asia-Pacific overnight.The French CAC-40 soared 0.75%, the German DAX inclined 0.40% and the British FTSE-100 secured 0.66%.The pan-European Stoxx-600 added 0.8% in early trade, with tech stocks adding 1.5% to leading the rising mode.German unemployment rate dropped in September, official figures showed on Thursday.The German Labor Office announced that the official rate of the unemployment rate sunk by 30,000 in seasonally adjusted terms to 2.508 million.Euro zone government bond yields jumped, resuming the advancing path.French inflation advanced to  a 10-year high of 2.7% in September, according to official data.Sweden’s H&M gained 1.9% after it reported a higher than expected rally in quarterly pretax profit as shoppersdemand returned to normal marks.
Gold Prices Rallied
2021-09-30 06:28UTC
Gold price soared this morning during the Asian trading hours.This is seen after falling to a seven-week trough during the previous session.Now, the yellow metal trades at $1727.61, which is another rise of $2.03 or 0.12% from the previous close of 1725.58.The daily trading range is from $1724.86 to 1734.78, while the trading volume is 99.646K.The Federal Reserve Chairman Jerome Powell and European Central Bank (ECB) President Christine Lagarde reported at an ECB forum on Wednesday. Their predictions about the future of their economies were cautiously optimistic.Meanwhile, silver surged 0.2%, platinum secured 0.6% and palladium inclined 0.7%. 
Asian Daily Market Review
2021-09-30 01:56UTC
Asian markets got off to a muted start on Thursday after a tech rally fizzled overnight on Wall Street. The U.S. dollar is holding gains, and Treasury yields remain elevated. In Japan the Nikkei is flat with a slight loss of less than 0.1% as the USD/JPY has finally hit resistance at the 112.00 level. Investors are encouraged by the new leader of the ruling party, who is set to become the next prime minister, as he is seen as maintaining stability in the financial markets. Shares of Softbank Group are trading 0.7% lower and Sony is down 0.4%. Among the major exporters Toyota shares are losing 2.4%, Panasonic is 1% lower, and Canon is edging lower by less than 0.1%. Australia’s S&P/ASX 200 trading 0.9% higher to lead gains acrss the region, with the big four banks rallying to support the broader market. Shares of ANZ are 1.7% higher, NAB has a 1.6% advance, Commonwealth Bank is up 1.2%, and Westpac is outperforming with a jump of 2.7%. Meanwhile the major miners are also rallying, with BHP adding 1% and Rio Tinto advancing 1.8%. In mainland China markets have also opened to gains, with the benchmark Shanghai Composite up by 0.5%, while the smaller cap Shenzhen Composite is adding 1.1%. However Hong Kong’s Hang Seng is not faring as well and is trading lower by 1%. South Korea’s Kospi has been bouncing back and forth over unchanged levels and is currently down 0.2%, and in Taiwan the Taiex has a modest loss of 0.2%. Southeast Asian markets are mixed, with Singapore’s Straits Times Index adding 0.6%, while the KLCI in Malaysia is 0.6% lower.
GPB/USD Plunges For Second Session
2021-09-29 20:16UTC
Two consecutive losing sessions for the GBP/USD has taken nearly 300 pips from the pair and dropped it to its lowest level of 2021. Surging Treasury yields in the U.S. have created massive strength for the U.S. dollar, while concerns over the U.K. energy crisis weigh on the British Pound simultaneously. By the end of trading Wednesday the pair was just above the support fond at the 1.3400 level, suffering a loss of nearly 2% over the past two sessions. Even so, market sentiment remains upbeat, with broad based U.S. dollar demand. Concerns over surging natural gas prices and a shortage of gasoline in the U.K. offset any chance of a recovery. A shortage of truck drivers has meant gas companies have been unable to make deliveries, and a week of panic buying has drained many stations of any fuel reserves. On what could have been a positive note for the Pound, Bank of England governor Andrew Bailey said at an ECB Central Banking Panel that he sees the U.K. economy recovering to pre-pandemic levels early next year. That’s sooner than he was projecting in August. If the pair breaks below the 1.3400 level the next area of support is the 1.3270 level, followed by the1.3150 level, which would be the lowest for the pair since November 2020. A rebound is unlikely, however it is possible if traders begin to see the pair as oversold. That’s not unusual given the sharp fall seen in such a short period of time for the pair. Such a rebound would find massive resistance at the 1.3600 handle.
The USD Retreated
2021-09-29 14:02UTC
The USD declined during the early European trading hours this morning.The greenback is still around its best levels this year as higher U.S. Treasury yields.Presently, the USD versus the Euro trades at 0.859 EUR, which is another loss of $0.0034 or 0.40% from the previous close of 0.8556.The daily trading range is from 0.8555 to 0.8594. At 2:55 AM ET (0755 GMT), the USD Index slipped 0.1% at 93.718.U.S. Treasury yields fell with the benchmark 10-year yielding below 1.53%.The advancing mode followed the Federal Reserve implied in that it could launch asset tapering as soon as next month.The USD is also boosting from its status as a safe haven amid higher issues over the rising outlook in China.
U.S. Daily Market Review
2021-09-29 12:28UTC
The leading U.S. stocks partly advanced as the rapid rally in the 10-year Treasury yield cooled.The Dow Jones Industrial Average secured 150 points, or 0.4%. The S&P-500 added 0.6%. The Nasdaq Composite marked its weakest session since March amid a spike in bond yields.The tech giants Amazon.com Inc, Facebook Inc, Microsoft Corp, Apple and Google-parent Alphabet Inc slightly increased earlier today.Contracts to demand U.S. previously owned homes recovered to a seven-month high in August.The National Association of Realtors (NAR) announced today that its Pending Home Sales Index soared little more than 8% last month to 119.5. The Pending Home Sales Index jumped 8.1% last month to 119.5, as reported by the National Association of Realtors.
European Daily Market Review
2021-09-29 09:49UTC
The major European stocks rallied today after a rate-induced sell-off in the U.S. was seen yesterday.The German DAX soared 0.95%, the French CAC-40 inclined 1.20% and the British FTSE-100 gained 0.88%.The pan-European Stoxx-600 secured 0.8% in early trade, with autos adding 1.2% to lead the rising path.Confidence in the euro-area economy jumped this month as demand levels became higher and consumer mode turned more optimistic about the outlook and construction companies.The GBP is into a hard position and registered its largest one-day retreated versus the USD on annual basis. In fact, the sterling turned to its weakest level since January.Euro zone bond yields tumbled on Wednesday tracking the shift of the U.S. borrowing costs.
Crude Oil Prices Dropped
2021-09-29 06:15UTC
Oil price slipped this morning during the Asian hours as the markets are focused on the unexpected advance in U.S. crude oil supplies.Now, oil trades at $73.905, which is a loss of $0.406 or 0.55% from the previous close of $74.311.The daily trading range is from $73.799 to 74.849, while the trading volume is 14.66K.Brent oil ftures tumbled 1.45% to $77.20 by 12:31 AM ET.The American Petroleum Institute, reported this morning a build of 4.127 million barrels for the week ending Sep. 24. Market analysts are expecting the crude oil supply data from the U.S. Energy Information Administration (EIA), due later in the day. The surprise build limited the surge of oil prices that was supported by a tightening global market as China.Meanwhile, there are worries over a debt-ceiling impasse in the U.S. after Republicans in the Senate blocked a Democrat initiative to boost the debt limit.
Asian Daily Market Reviews
2021-09-29 01:48UTC
Asian markets are trading sharply lower Wednesday morning following huge overnight losses on Wall Street that saw the Nasdaq fall 2.8% in its worst daily percentage loss since March. The selloff was sparked by rising Treasury yields, which caused the technology sector to tank on worries that companies would be unable to continue securing cheap financing. Japan’s Nikkei is trading 2.2% lower, even though the Yen continues to get battered versus the U.S. dollar. Normally a weaker Yen is beneficial for Japan’s exporters. Shares of Softbank Group are trading 1.6% lower, and Sony is plunging 3.3%. Among the major exporters Panasonic is losing 2.2%, Canon is dropping 1.4%, while Toyota is flat and unchanged. In Australia the S&P/ASX 200 has a loss of 1.3% as the big four banks are in negative territory, despite the fact that higher interest rates are good for the banks. ANZ is down 0.3%, NAB is falling 1.3%, Commonwealth Bank is losing 1%, and Westpac trades 0.7% lower. The major miners are weighing on the broader market too, with BHP falling 2.7% and Rio Tinto trading 1.9% lower. Mainland Chinese markets have opened to losses as well, with the benchmark Shanghai Composite losing 1.1%, while the smaller cap Shenzhen Composite is 0.7% lower. Over in Hong Kong the Hang Seng  is retracing gains from the previous session as it’s falling 1.7%. South Korea’s Kospi is down 1.9% and the Taiex in Taiwan is losing 1.6%. Southeast Asian markets are falling too, with the KLCI in Malaysia losing 0.9%, while Singapore’s Straits Times has the region’s best performance as it’s down just 0.3%.
No Relief Seen For Natural Gas Prices
2021-09-28 22:35UTC
While stock markets may be struggling there’s another market that’s making massive gains. That market is natural gas, and besides adding 3% yesterday to almost $5.90 per million British thermal units, it has the distinction of being up some 180% over the past 12 months. Yesterday’s close is also the highest for natural gas since February 2014. There are a number of reasons for the rise in natural gas prices. Chief among them is the economic growth globally in the wake of the COVID lockdowns. Because electric and industrial firms are the top users of natural gas, economic expansion is well known as a driver of price for the commodity. Another reason for rising natural gas prices is the unusually hot summer, which increased electric consumption in the U.S. and across Europe. Also playing into the rising prices is a shift in usage that’s created more demand from Europe and Asia for the clean fuel source. When combined all together these seemingly isolated fundamentals are responsible for the massive rise in natural gas prices. And traders see no letup in the near future. With stocks so low and the winter heating season coming there’s no relief in sight. In fact, if this winter ends up being colder than average prices could well continue rising into next spring. There’s no telling how much upside remains, but it could be considerable as economic growth continues rising globally, sparking increased demand for natural gas. Another concern is that an early or exceptionally hard winter would spur inflation higher since roughly 50% of U.S. households use natural gas for heating.
U.S. Daily Market Review
2021-09-28 15:30UTC
The leading U.S. stocks are into a losing pattern today, with tech names dragging down the major indexes.The Nasdaq Composite slipped 2.5%, and the S&P-500 dropped 1.7%. The Dow Jones Industrial Average retreated 450 points, or about 1.3%.The 10-year Treasury yield extended the rising path close to 1.558% as investors expect the Fed to follow through on its promise to curb its emergency bond-buying stimulus as inflation soared. The 10-year yield has reversed dramatically to the highest levels since June.U.S. consumer confidence tumbled for the present month amid jumping COVID-19 infections, which resulted in some serious concerns about the economy.The Conference Board reported its consumer confidence index sunk to a reading of 109.3 this month from 115.2 in August. The USD appreciated to its best mark of the last 10 months on Tuesday, while other major pairs lost some steam.
The USD Into A Surging Mode
2021-09-28 09:02UTC
The USD rallied during the European trading hours today.Presently, the USD versus the Euro trades at 0.856 EUR, which is another addition of 0.0016 or 0.19% from the previous close of 0.8544.The daily trading range is from 0.8545 to 0.8567.The greenback was boosted by rising U.S. Treasury yields as traders position for the Federal Reserve tapering its bond-buying program this year.Moreover, the USD Index gained 0.1% higher at 93.472, just under a one-month high.Furthermore, there is a surge in U.S. Treasury yields, where the  benchmark 10-year briefly topped 1.5% yesterday, which stimulated the USD.
European Daily Market Review
2021-09-28 07:28UTC
European stocks are into a lower side today as the markets are focused  on a spike in U.S. bond yields.The pan-European Stoxx-600 declined 0.6% in early trade, with tech stocks dropping 2.1% to lead the falling path.The German DAX slipped 0.30%, the French CAC-40 dropped 0.22% and the British FTSE-100 is around the same levels.The center-left Social Democratic Party (SPD) emerged as the winner of the vote after securing 25.7%.Angela Merkel’s party of the Christian Democratic Union and Christian Social Union has a support of 24.1%.British airline easyJet announced that had bought 93% of the new shares on offer in its 1.2 billion pound ($1.64 billion) rights issue.Euro zone bond yields rose to their highest since early July on Tuesday, tracking moves in U.S. Treasuries.Germany’s 10-year yield soared 3 basis points to its best since the start of July at -0.182%.Italy’s 10-year yield advanced 4 bps, its peak since the start of July at 0.84%.
Gold Prices Advanced
2021-09-28 06:57UTC
Gold prices rallied this morning during the Asian hours.Now, gold trades at $1743.10, which is a loss of $6.33 or 0.36% from the previous close of 1749.43.The daily trading range is from $1741.34 to 1754.35, while the trading volume is 85.204K.However, the rising rate of the USD and higher U.S. Treasury yields limited the soaring pattern of the precious metal.Fed Chairman Jerome Powell will be joined by U.S. Treasury Secretary Janet Yellen to report at a Senate Banking Committee hearing later today.Meanwhile, Narodowy Bank Polski (National Bank of Poland) has more than 230 tons of gold and even hopes to add more to its reserves, according to its president Adam Glapiński.In the meantime, silver prices dropped 0.8%. Platinum slipped 0.5% and palladium s retreated 0.6%.
Asian Daily Market Review
2021-09-28 02:06UTC
Asian markets are broadly lower Tuesday morning as investors across the region eye ongoing Evergrande default worries. Also weighing on sentiment today are fears of another coming wave of COVID infections, and the possibility of a U.K.-like energy crisis coming to China and the rest of the ASEAN region. Japan’s Nikkei is trading 0.7% lower, despite ongoing strength in the USD versus the Yen, which would normally provide support for Japan’s export sector. Shares of Softbank Group are trading 1.6% higher, but Sony is 1.2% lower. Among the major exporters Toyota is edging lower by 0.2%, Panasonic is inching up by less than 0.1%, and Canon is trading 1.3% higher. In Australia the S&P/ASX 200 trades 0.6% lower, despite gains coming from the big four banks. Shares of ANZ are 0.5% higher, NAB is adding 0.4%, Commonwealth Bank is advancing 1%, and Westpac is edging higher by 0.1%. However the major miners are weighing on the broader index as BHP is losing 0.8%, Rio Tinto is off 1.2%, and Fortescue Metals is dropping 3.4%. Mainland Chinese markets have opened to gains in opposition with the performance across the region. The benchmark Shanghai Composite is trading 0.2% higher, but the smaller cap Shenzhen Composite is flat. Over in Hong Kong the Hang Seng is romping 1.1% higher to lead gains for the region. In South Korea the Kospi is losing 0.7%, and in Taiwan the Taiex has fallen 1.1% in early trade. Meanwhile Southeast Asian markets are also modestly lower, with Singapore’s Straits Times Index losing 0.4%, while the KLCI in Malaysia has a slight loss of less than 0.1%.
Will Amazon Split Its Stock Soon?
2021-09-27 16:23UTC
Stock splits are a common way to make a stock more attractive to small retail investors, since high stock prices (Amazon shares are near $3,400) can discourage investors who have limited funds. Even with the access to fractional shares from some brokers, a lower stock price could be helpful. In its early days Amazon had a number of stock splits, but since the dot-com bubble burst Amazon has avoided splits and hasn’t had one in over 20 years. Is now the time they might consider splitting? History obviously says no, but with the change in management a stock split might be something that’s now back on the table. Now that Jeff Bezos has passed the reins of the SEO position along to Andy Jassy it’s possible the new CEO could decide to split Amazon shares to make them more attractive to small investors. Stock splits are hard to predict, and the performance of the stock after the split is just as hard to predict. In some cases a stock split has served as the catalyst for the stock to finally break out and move higher. In others it’s had no impact, or has even caused shares to head lower as long-term investors become disgruntled with the erosion in value caused by the massive increase in the number of shares outstanding. There’s no way to be sure what impact an Amazon stock split might have, or even if Amazon might be considering such a move. One thing is clear however, with the recent underperformance of Amazon shares anything that could help the stock breakout to new heights would be welcome by investors.
U.S. Daily Market Review
2021-09-27 14:30UTC
U.S. stocks are still without a clear direction as traders braced for the final week of a volatile September.The S&P-500 slipped 0.3% and the Nasdaq Composite dropped 0.7%. The Dow Jones Industrial Average gained about 120 points as energy stocks and bank shares pushed higher. Carnival Corp inclined 4.5% and United Airlines created 1.8% in early trading. Shares of Boeing advanced 2%.Facebook Inc will dedicated around $50 million to partner with organizations.Wells Fargo paid $37 million to settle a government legal actions as the bank of defrauding hundreds of commercial customers.Chicago Federal Reserve Bank President Charles Evans announced today that has estimated a surge of 2.4% by 2024.
European Daily Market Review
2021-09-27 08:56UTC
European stocks advanced today with German election results seen eliminating a key market risk for the region.The German DAX added 0.90%, the French CAC-40 inclined 0.62% and the British FTSE-100 soared 0.29%.The Christian Democratic Union (CDU) party of Angela Merkel lost the elections to the Social Democratic Party (SPD), who secured 25.7% of the vote. The Greens won the third place, with a record 14.8% vote.The pan-European Stoxx-600 gained 0.4% in early trade, with oil and gas stocks adding 1.9% to lead the rising mode.Oil giants of TotalEnergies, Royal Dutch Shell and BP soared between 1.8% and 2.4%.The GBP appreciated today amid estimates that the Bank of England could hike interest rates early next year gave some support, but fears of a tough winter for the British economy capped its gains.The GBP jumped last week following the Bank of England’s hawkish tone on interest rates.In fact, the GBP soared last week after the BoE on Thursday removed its forecast for inflation.
Crude Oil Prices Into A Rising Mode
2021-09-27 07:50UTC
Oil prices advanced for a fifth straight session this morning.This comes as Brent surged towards $80 amid supply issues.Now, oil trades at $74.699, which is a gain of $0.738 or 1.00% from the previous close of 73.961.The daily trading range is from $73.961 to 75.302, while the trading volume is 17.85K.U.S. Oil gained 83 cents, or 1.1% to $74.81, close to its best around July.The Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, have hard time in boosting oil supplies due to under-investment or maintenance delays persist from the pandemic.India's oil imports jumped to a three-month peak in August, regaining some path from nearly one-year bottom marks.  
Asian Daily Market Review
2021-09-27 02:16UTC
Asian markets are getting the week off to a good start, rising broadly despite the lackluster session on Wall Street that finished off last week. Investors are still keeping an eye on the Evergrande debt crisis situation, and Treasury yields have jumped as a result. Japan’s Nikkei is trading 0.3% higher as the USD is taking a break in its assault on the Yen. Still, with the USD/JPY sitting near the 110.60 level Japan’s export sector is getting a boost. Shares of Softbank Group are 1.3% higher, while Sony shares are edging up by 0.2%. Among the major exporters Toyota shares are trading 2.2% higher, Panasonic is adding 0.9%, and Canon shares are climbing 0.6% higher. In Australia the S&P/ASX 200 is 0.9% higher, with the big four banks assisting gains for the broader index. Shares of ANZ trade 1% higher, NAB is up by 0.7%, Commonwealth Bank is jumping 2.1% higher, and Westpac shares are 0.9% higher. The major miners are also helping the broader index as BHP adds 1.1% and Rio Tinto trades 2.3% higher. Mainland Chinese markets opened lower, but have since recovered and the benchmark Shanghai Composite trades 0.3% higher while the smaller cap Shenzhen Composite is adding 0.9%. Meanwhile over in Hong Kong the Hang Seng is adding to gains made late last week and is trading 1.3% higher. South Korea’s Kospi also recovered from early weakness to trade 0.6% higher, while the Taiex in Taiwan is advancing 0.2%. In Southeast Asia Singapore’s Straits Times is trading 1.1% higher, while Malaysia’s KLCI bucks the trend higher in the region with a modest loss of 0.2%.
U.S. Daily Market Review
2021-09-24 16:49UTC
U.S. stock indexes are into a lower side following two sessions of advances.The S&P-500 and the Dow Jones Industrial Average are around static levels. The S&P 500 slipped by 0.03% and the Nasdaq Composite shed about 0.3%.Nike shares dropped as its supply chain issues stemming from the pandemic hit the sports company.The giants of Microsoft Corp, Amazon.com Inc and Apple Inc, Inc retreated 0.8% and 2.5%.House Democratic leaders reported that they intended to forge ahead next week with U.S. President Joe Biden’s $3.5 trillion.Meanwhile, the House Speaker Nancy Pelosi wrote a letter to the Democrats vowing to “move forward to pass two jobs bills next week.”
European Daily Market Review
2021-09-24 08:07UTC
The leading European stocks lost some ground this morning as investors react to central bank policy decisions and monitor developments surrounding China Evergrande Group.The pan-European Stoxx-600  fell 2% shortly after the opening bell.The German DAX slipped 0.64%, the French CAC-40 lost 0.78% and the British FTSE-100 declined 0.24%.The GBP partly retreated versus the USD, trading at around $1.3710 at 8:20 a.m. London time.The biggest Greek electricity company called Public Power Corp dropped around  13.5% this morning. This is the largest tumble since March 2020.The German 10-year yield marked its biggest rally since February on Thursday, after Norway’s central bank became the first central bank to introduce tougher policy following the COVID-19 crisis.German sportswear giants of Adidas and Puma retreated 3.7% and 2.5%, respectively. This comes after Nike reduced its fiscal 2022 sales forecasts.
Gold Prices Advanced
2021-09-24 07:27UTC
Gold prices rallied this morning during the Asian hours, recovering around 1%.Now, gold trades at $1753.73, which is another rise of $11.69 or 0.67% from the previous close of 1742.04.The daily trading range is from $1742.04 to 1756.48, while the trading volume is 76.759K.The USD is into a negative relationship to the precious metals. The greenback added some ground but it is still just around a one-week bottom, which boosted the yellow metal, although the U.S. Federal Reserve’s plans to begin asset tapering sooner than expected.The Fed reported that it would likely begin asset tapering within 2021 and hike interest next year.Silver added 0.5% to $22.61 per ounce and soared 1% for the week so far. Palladium rose 0.5% to $1,992.67 but was set for a third consecutive week of losses.  
Asian Daily Market Review
2021-09-24 01:59UTC
Asian markets are trading mostly higher on Friday following a second consecutive strong winning session on Wall Street. Investors seem to be ignoring reports that Evergrande Group has failed to pay the interest due on its offshore bonds on Thursday. It was also reported that Beijing has warned local officials to prepare for the potential failure of the real estate developer. In Japan investors are returning from a mid-week public holiday and are sending the Nikkei 1.7% higher on the back of a weaker Yen. Shares of Softbank Group are trading 2.9% higher, and Sony shares are surging 3.7% higher. Among the major exporters Toyota is adding 2%, Panasonic trades 2% higher as well, and Canon has a 3.2% gain. Australia’s S&P/ASX 200 is edging lower by 0.2%, although the big four banks are making gains. NAB trades 0.6% higher, Commonwealth Bank is advancing 0.5%, and Westpac is 0.5% higher as well, while ANZ shares are flat. The major miners are mixed however, with BHP falling 1.7%, but Rio Tinto adding 0.4%. Mainland Chinese markets have opened lower after their gains yesterday, with the benchmark Shanghai Composite falling 0.3%, while the smaller cap Shenzhen Composite has a loss of 0.5%. Over in Hong Kong the Hang Seng is edging lower by 0.2%. In South Korea the Kospi is advancing 0.3%, while the Taiex in Taiwan has a 0.9% gain. Southeast Asian markets have a mixed open however, with Singapore’s Straits Times Index advancing 0.4%, while the KLCI in Malaysia is edging lower by less than 0.1%, and the Jakarta Composite in Indonesia is flat at the open.
U.S. Daily Market Review
2021-09-23 13:03UTC
Wall Street is about to advance after investors largely resulted in higher issues over the Federal Reserve's plans for tapering.Moreover, China’s property market eased somewhat and as the Federal Reserve preserved the present monetary stimulus.The Dow Jones Industrial Average added 238 points, or 0.6%. The S&P-500 added 0.6% and Nasdaq-100 also secured 0.6%.The number of Americans filing for first-time jobless benefits unexpectedly jumped last week. The Labor Department reported 351,000 Americans filed for first-time unemployment benefits in the week ended Sept. 18.The USD dropped off one-month peak on Thursday.Canadian retail sales soared 2.1% in August after losing 0.6% in July as restrictions linked to the COVID-19 pandemic were removed. The downfall in July, marked the largest decrease over the course of the last four months.
The USD Is Into A Lower Side
2021-09-23 12:51UTC
The USD lost some territory during the European trading hours.In fact, the greenback fell from a one-month high as traders digested the previous session’s Federal Reserve meeting.Presently, the USD versus the Euro trades at 0.852 EUR, which is a decline of 0.0027 Euro or 0.32% from the previous close of 0.8550.The daily trading range is from 0.8523 to 0.8557. The USD Index, which tracks the greenback against a basket of six other currencies, slipped at 93.332.The Fed preserved the policy settings unchanged on Wednesday as it was predicted.USD/TRY gained 0.3% to 8.6693, with the Turkish central bank meeting later today. The Turkish consumer price index jumped to 19.25% last month. Turkey’s central bank is very expected to preserve interest rates at high levels despite serious opposition from the country’s president, Recep Tayyip Erdogan. 
European Daily Market Review
2021-09-23 07:30UTC
European stocks rallied this morning as global markets reacted to the latest statements from the U.S. Federal Reserve.This represents a surge for third session as the mood improved amid easing concerns about cash-strapped developer China Evergrande.The German DAX added 0.62%, the French CAC-40 inclined 0.46% and the British FTSE-100 advanced 0.17%. The pan-European Stoxx 600 index inclined with all sectors into a higher side.Market analyst are focused on the Bank of England’s meeting later today for inflation outlook and taper timelines.Royal Mail Plc soared 1.5% after it forecast a surge in first-half operating profit.French car parts company Faurecia secured 3.2% even as it lowered its main 2021 financial targets due to a a massive loss in worldwide automotive production. Rival Valeo also advanced 3%.
Crude Oil Prices Advanced
2021-09-23 06:29UTC
Oil prices added further ground this morning.In hand, demand is largely surging more than predicted draw in U.S. crude inventories.Now, oil trades at $72.323, which is a further rise of $0.354 or 0.49% form the previous close of 71.969.The daily trading range is from $71.890 to 72.521, while the trading volume is 8.769K.The market mode was also sstimulated by a broad plunge back into risk assets, amid worries over a potential default by huge property developer China Evergrande.The rally oil prices took place as the USD preserved its grounds around a one-month high after the U.S. Federal Reserve indicated in rate rises could happen sooner than expected.
Asian Daily Market Review
2021-09-23 02:03UTC
Asian markets are off to a mixed start on Thursday as investors across the region react to the overnight results of the latest Federal Reserve monetary policy meeting. The Fed announced they will begin tapering their bond purchases “soon”’ and will finish by the end of 2022. The U.S. dollar is rallying strongly in response to the Fed, and the yield curve has flattened as well. Most markets have reopened after the mid-Autumn Festival, however markets are closed in Japan today for another public holiday. Traders are also continuing to monitor the developments is the debt crisis at the China Evergrande Group, although concerns have eased after the developer issued a vague statement regarding a local bond interest payment. In Australia the S&P/ASX 200 is rallying 1% higher in response to the overnight Fed statement. The big four banks are helping lift the index today, with ANZ adding 0.8%, NAB trading 1% higher, Commonwealth Bank advancing 1.2%, and Westpac posting a 0.6% gain. The major miners are mixed however, as BHP shares are falling 0.2%, but Rio Tinto shares are 0.6% higher. In mainland China the benchmark Shanghai Composite has jumped 1.1% higher at the open and the smaller cap Shenzhen Composite has a 0.9% gain. Over in Hong Kong the Hang Seng is surging higher by 2.2%, with shares of China Evergrande Group trading up more than 25%. South Korea’s Kospi is falling 0.8%, but in Taiwan the Taiex has a gain of 1%. Southeast Asian markets are advancing, with Singapore’s Straits Times adding 0.7%, the KLCI in Malaysia advancing 0.3%, and Indonesia’s Jakarta Composite is adding 0.2% in early trade.
Crypto Daily Market Review
2021-09-22 20:42UTC
After a painful two-day slide the cryptocurrency markets finally stabilized and began climbing higher on Wednesday, but only after Bitcoin (BTC) made a brief stop below the $40,000 level in early trade. However by the end of the day Bitcoin was back above $43,000 with a 3.7% gain on the day. Ethereum (ETH), the second largest cryptocurrency by market cap, was also recovering after trading below the $3,000 level early on. Late Wednesday Ethereum was back above $3,000 as it added 4.6% on the session. The other altcoins in the top ten also made solid gains for the day, with the best gains in the top ten coming from Polkadot (DOT) as it added 10.7%. Solana (SOL) also made a strong recovery with a daily gain of 9.4%. Others in the top ten also performed better than Bitcoin and Ethereum. Ripple (XRP) was up by 6.3% and was flirting once more with the $1 level. And Cardano (ADA) added 6.6% on the day to reach $2.20 a token. Binance Coin (BNB) was an underperformer however, adding just 3% on the day. The best gain in the top 100 altcoins came from Axie Infinity (AXS), with the blockchain game related token rising 18.7%. That took the token value back above $60, although the token is still 35% off its all-time high notched on September 4, 2021. In a very unusual occurrence there were no tokens in the top 100 to suffer a loss. That almost never occurs and is serves to highlight the strength of the rebound in the crypto market.
Facebook Shares See More Downside
2021-09-22 20:28UTC
Facebook shares got hit again on Wednesday, falling 4% on the day even as the broader market was rallying strongly in reaction to the latest Federal Reserve monetary policy statement. This time the issue for Facebook shares was a warning from the company that Apple’s privacy changes have had a greater impact on Facebook’s third quarter ad sales than previously thought. While this isn’t new news, the company already highlighted the negative impact of Apple’s privacy changes at its second quarter earnings call, Facebook shared this time that it had underreported iOS web conversions by roughly 15%, making advertisers think the impact was even greater than it actually was. The news comes on the heels of what’s been a week-long attack by the Wall Street Journal against Facebook. The Journal has already published a five-part series of scathing investigative journalism uncovering a number of negative practices by Facebook. Plus, this isn’t the first time that Facebook has been found to be misleading advertisers with its metrics. In the past it was found that Facebook had inflated video ad metrics, and failed to act quickly to fix the problem. Facebook claims it is working to improve its metrics and reporting, but advertisers are understandably hesitant after being burned a number of times by Facebook’s deceptions and failure to quickly address known issues with its ad platform and metrics. To be fair, Facebook has long been warning that the new privacy changes for Apple users would negatively impact the way its ad targeting business works. That’s been validated by Apple’s own data showing very few iOS users are opting into iOS tracking.
U.S. Daily Market Review
2021-09-22 18:36UTC
U.S. markets headed into the afternoon session on Wednesday with solid gains that held after the Federal Reserve concluded its latest monetary policy meeting. The Fed concluded the meeting with a statement that they would soon begin tapering their bond buying. Additionally, some members of the Fed now see the first interest rate hikes in the U.S. coming in 2022 rather than 2023 as previously projected. Halfway through the afternoon on Wall Street the Dow Industrials are trading 1.4% higher, while the S&P 500 is adding 1.3% and the Nasdaq is 1.2% higher. The S&P 500 is showing all eleven of its subsectors in positive territory, with the best gain coming from the energy sector with a gain of 4.3%. The financial sector is trading 2.2% higher as well as the banks will certainly benefit from rising interest rates in 2022. Also making solid gains are the materials and industrials, up by 1.9% and 1.6% respectively as the Fed decision indicates they have confidence in the U.S. economic recovery. Boeing is leading gains for the Dow, advancing 4.4%. Just behind is Chevron with a gain of 4.1%. Following that are two banking giants, Goldman Sachs and JPMorgan, with gains of 2.8% and 2.7% respectively. At the bottom of the Dow is Facebook, whose shares are falling 3.8% after warning that Apple’s privacy policy changes will have a greater than expected impact on the third quarter results. Facebook didn’t take the lowest spot in the Nasdaq however. That distinction went to Peloton, whose shares are trading 7.8% lower, although there seems to be no specific news causing the plunge in shares.
European Daily Market Review
2021-09-22 15:16UTC
European investors have shed their fears of an Evergrande real estate crisis, sending markets all across the European Union higher on Wednesday. Investors are also awaiting the results of the latest Federal Reserve meeting in the U.S., which is apparently having no negative impact on sentiment, even though the central bank is expected to announce the start of tapering in its bond buying program. Heading into the final hour of trading the pan-European Stoxx Europe 600 is trading 1% higher, while the CAC 40 in France has a 1.2% advance, and the DAX 30 in Germany is adding 0.9%. Over in Spain the IBEX 35 is up by 0.6% and in Italy the FTSE MiB has a gain of 1.3%. In the German DAX 30 the auto manufacturers are climbing, with shares of Daimler leading the way higher with an advance of 4.1%, while shares of BMW are adding 3.3%. Deutsche Bank is also making good gains, with shares up 3.6%. At the bottom of the index is food delivery company HelloFresh, with a loss of 3%. In France’s CAC 40 shares of Vivendi are soaring 150% higher after announcing the sale of Universal Music, which is being valued at $39 billion. Also gaining 4.2% today are shares of ArcelorMittal. While there are only a handful of shares in the red, the worst loss is a 1.2% drop in shares of Dassault Systemes. Over in the U.K. the FTSE 100 is outperforming with a gain of 1.4%. There are less than ten company shares in the red, and the best gainer in the index is Antofagasta with a gain of 7.8%.
Asian Daily Market Review
2021-09-22 01:58UTC
Asian markets are mostly lower on Wednesday morning as Chinese investors return from a two-day holiday and the region watches to see what the fallout from the China Evergrande crisis might be. Worries of global contagion in the real estate sector have surrounded the crackdown by China on real estate firms. Japan’s Nikkei is falling for a second consecutive session, with the index trading 0.8% lower. Shares of Softbank are down slightly by 0.2%, and Sony is losing 1% in early trade. Among the major exporters Toyota is 1.2% lower, while Panasonic shares are flat, and Canon trades down by 1.1%. In Australia the S&P/ASX 200 is modestly lower by 0.2% as the big four banks continue falling. Shares of ANZ are lower by 0.3%, NAB has a 1% loss, Commonwealth Bank is losing 0.5%, and Westpac is 1% lower. Meanwhile the major miners are supporting the broader index as both BHP and Rio Tinto trade 0.6% higher. In mainland China markets have opened lower, with the benchmark Shanghai Composite 0.7% lower, and the smaller cap Shenzhen Composite 0.7% lower as well as investors worry over the Evergrande crisis. Over in Hong Kong the Hang Seng is rebounding off an eleven month low and trading 0.5% higher to lead gains for the region. South Korea’s markets are closed for a third consecutive session, but investors will return tomorrow. In Taiwan the Taiex has dropped 1.9% to lead losses across the region. Southeast Asian markets are falling today as well, with the Straits Times in Singapore losing 0.4%, and the KLCI in Malaysia matching that with its own 0.4% loss.
Markets Ready For FOMC Meeting
2021-09-21 22:24UTC
The Federal Reserve meeting is always a highly anticipated event, but tomorrow’s meeting is particularly important to market participants as the Fed is widely expected to signal the start of its bond tapering program. They could also update their dot plot, and it’s expected that they’ll announce more interest rate hikes than previously expected. Of course the Fed faces some challenges in reassuring markets while also telegraphing the changes coming after more than a year of massive monetary stimulus that was put in place to fight the economic fallout from the pandemic. At this point economists are expecting the Fed to announce that it will begin tapering its massive bond buying program in November, which is a bit earlier than was previously expected. A drop in stimulus would be negative for equity markets, but could provide a boost to the U.S. dollar. Also possible from this meeting is an update to the Fed’s dot plot, which is its future expectations for interest rate hikes. Currently the dot plot shows just three interest rate hikes through 2023, however it’s widely expected that the Fed will be increasing that to as many as six interest rate hikes through 2023, bringing the Fed funds rate to 1.6%. Of course it’s also possible that the Fed could delay tapering plans given the recent weak labor data and stronger than expected consumer inflation data. If that’s the case then equity markets could finally break out of their slump as investors will almost certainly be enthused by continued stimulus. Whatever the outcome of the meeting, tapering or no, it’s likely to drive market action in the coming days.
U.S. Daily Market Review
2021-09-21 11:00UTC
U.S. stocks are into recovery today following the S&P 500′s lowest session of the last quarter.The Dow Jones Industrial average added 42 points, or 0.1%. The S&P-500 inclined 0.1% and the Nasdaq Composite is into a higher side. The rising path is taking place, while the markets are focused on the end of the Federal Reserve’s two-day meeting.U.S. single-family homebuilding dropped for a second straight month in August.The USD preserved the same grounds, just around one-month peak as global markets bounced somewhat on Tuesday after a risk-off mood dominated in the prior session.The USD index secured 0.012% after rallying to 93.455, while the euro slipped 0.01% to $1.1724.Leading congressional Democrats stated yesterday that they will call for a  measure to suspend the federal borrowing limit through the end of 2022, in order to preserve the government funded through early December.
The USD Is Into A Falling Side
2021-09-21 10:42UTC
The USD retreated some territory from a one-month peak tested overnight as equity market futures moved higher on Tuesday.Currently, the USD versus the Euro trades at 0.851 EUR, which is a loss of $0.0007 or 0.08% from the previous close of 0.8526.The daily trading range is from $0.8518 to 0.8531.The USD steadied at 93.190 after reaching its peak since Aug. 23.As markets stabilised after Monday's selloff, investors remained broadly cautious. Just before Evergrande's debt crisis, the USD has been stimualted ahead of a Federal Reserve meeting this week.Defying the risk-averse mood, the Australian dollar advanced around 0.4% to $0.7276.
European Daily Market Review
2021-09-21 07:23UTC
European stocks are partly higher and recovering some lost ground. This comes after their largest downfall over the largest two months.The German DAX surged 0.53%, the French CAC-40 added 1.05% and the British FTSE-100 secured 0.67%.The pan-European Stoxx-600 gained 0.4% in all sectors entering into a higher side.Euro zone bond yields preserved their ground this morning as markets appeared to calm from a sell-off a day earlier driven by worries over Chinese property developer Evergrande’s debt woes.Royal Dutch Shell advanced 3.3% after it said it would sell its Permian Basin assets to ConocoPhillips for $9.5 billion in cash.British transport company Stagecoach Group jumped almost 20% after announcing it is negotiating with National Express about a likely all-share merger.
Gold Prices Declined
2021-09-21 06:14UTC
Gold prices dropped this morning during the Asian hours. The weekly data indicated in a massive level in the coming sessions.As a matter of fact, the price of gold has retreated over the last 2 weeks and once again oscillated around the $1800/oz psychological mark.Now, gold trades at $1761.66, which is a loss of $1.91 or 0.11% from the previous close of 1763.57.The daily trading range is from $1760.63 to 1765.96, while the trading volume is 47.369K.The market are still focused on the Fed’s timetable to begin asset tapering and hike interest rates.The Bank of Japan and Bank of England will report on Thursday this week.In the meantime, silver added 0.1% after rallying to a more-than-nine-month bottom of $22.01 during the previous session.
Asian Daily Market Review
2021-09-21 02:03UTC
Asian markets are following the sharp overnight losses on Wall Street, where the S&P 500 posted its worst daily loss since May on severe risk aversion from investors. Cryptocurrency markets are also continuing lower in response to the rising risk aversion. Across Asia investors are worried that a Chinese crackdown on the real estate sector could spark a global real estate crisis. Japanese investors returned from a holiday extended three-day weekend to send the Nikkei lower by 1.9% in early trade. The Yen strengthened versus the U.S. dollar as investors chose the Japanese currency as a haven from uncertainty and fears. Shares of Softbank Group plunged 5.1% and Sony trades 1.1% lower. Among the major exporters Toyota is down 1.2%, Panasonic shares have fallen 2.2%, and Canon is losing 2.1%. Australia’s S&P/ASX 200 is also showing some weakness, but has recovered off its lowest levels of the day to trade slightly lower by less than 0.1%. The big four banks are contributing to weakness for the index, with ANZ down 0.4%, NAB falling 1.1%, Commonwealth Bank dropping 0.8%, and Westpac trading 1.2% lower. Meanwhile the major miners are recovering from yesterday’s losses and supporting the broader index. Shares of BHP trade 1.4% higher, and Rio Tinto is adding 1.8%. Mainland Chinese markets are closed for a second consecutive session for the Mid-Autumn festival. Over in Hong Kong markets are open for trade, and the Hang Seng is adding 0.4% despite the worries over China’s crackdown on the real estate sector. Markets are also closed today in South Korea and in Taiwan. Singapore’s Straits Times is adding 0.4% and Malaysia’s KLCI is 0.1% higher.
U.S. Daily Market Review
2021-09-20 13:03UTC
U.S. stock futures started the new week into a lower side as most traders and are still not betting on any big positions.Futures on the Dow Jones Industrial average slipped 650 points, or 1.9%. The S&P-500 futures dropped 1.7. Nasdaq-100 futures fell 1.7%. Ford and Carrier Global tumbled more than 3%. General Motors and Boeing retreated about 2% each. Oil giants of Chevron and Exxon Mobil led the falling path ion pretrading.The hitech leaders of Microsoft Corp, Google-owner Alphabet Inc, Amazon.com Inc lost between 1.4% and 3.7%.United Airlines, American Airlines and Delta Airlines retreated 2.9% amid rising COVID cases,  which resulted in higher concerns over the future of the travel sector and the economy as a whole.
European Daily Market Review
2021-09-20 08:15UTC
European stocks are partly lower today  as global markets are still worries over the timing of the U.S. Federal Reserve’s tapering.The German DAX slipped 2.12%, the French CAC-40 dropped 2.35% and the British FTSE-100 lost 1.47%. The pan-European Stoxx-600 index fell 1.5%.German shares tumbled almost 2% to their bottom, sinking as the numbers suggested in a greater than predicted rally in producer prices last month.The euro zone bond yields are looking for a direction at the start of a busy week.The Fed is still likely to lay the groundwork for a slowdown of its bond purchases.French cloud computing services provider OVHcloud reported earlier today that it was hoping for a revenue growth rate in the mid-twenties by 2025.OVHcloud said it was hoping to raise 400 million euros ($468.64 million) through public stock selling.
Crude Oil Prices Dropped
2021-09-20 06:20UTC
Oil prices retreated today, extending the falling path from Friday after the USD rallied to a three week peak.Now, oil trades at $70.928, which is a further loss of $0.966 or 1.34% from the previous close of 71.894.The daily trading range is from $70.925 to 72.056, while the trading volume is 11.853K.In the meantime, around 25% U.S. Gulf of Mexico output is still shut down in the wake of two hurricanes. U.S. West Texas Intermediate (WTI) crude futures dropped 55 cents.The USD advanced to a three-week high following a surge at the end of last week, amid higher forecasts of the U.S. retail sales data.  
Asian Daily Market Review
2021-09-20 01:33UTC
Markets are heading broadly lower across the Asian region on Monday morning, with Australia leading the charge lower, while major markets in Japan, China, and South Korea are all closed for a public holiday. Japanese traders will return tomorrow, but China’s markets are closed until Wednesday, and South Korean traders aren’t due to return until Thursday. Considering most of the region’s major markets are closed today trading volumes are expected to be low, but that could lead to volatility. In Australia the S&P/ASX 200 is trading 1.2% lower, with the mining sector dragging the index down, although the big four banks are also trading lower today. Shares of ANZ are down 0.4%, NAB has a loss of 0.5%, Commonwealth Bank has fallen 0.8%, and Westpac is losing 0.7%. Meanwhile the major miners are suffering far greater losses, with BHP falling 3.6%, Rio Tinto dropping 2.6%, and iron giant Fortescue Metals suffering a loss of 4.7%. Shares of Australia’s energy producers are also underperforming the broader index, with Santos losing 2.3%, Beach Energy falling 0.7%, and Woodside Petroleum dropping 1.5%. Those losses are coming as crude oil prices are under pressure today, mostly due to a surge higher in the U.S. dollar versus rivals. Markets in Taiwan are also closed today for the Mid-Autumn festival, and will remain closed tomorrow, reopening on Wednesday. In Southeast Asia markets are trading lower as well, with the KLCI in Malaysia losing 0.4% in early trade, while the Straits Times in Singapore is edging lower by less than 0.1%, while Indonesia’s Jakarta Composite has opened to a slight loss as well.
September Is Living Up To Its Reputation
2021-09-17 20:13UTC
The September slump continued on Friday in the U.S., with markets notching broad based losses as investors worry over COVID infection rates, the Federal Reserve meeting next week, and the historical tendency for September to be the worst month of the year for equities. Whether or not it’s a self fulfilling prophecy, markets certainly have been taking it on the chin this September. At the close Friday the Dow Jones Industrial Average was 0.6% lower, the S&P 500 shed 0.9% and the Nasdaq Composite lost more than 0.9% as well. The only good news was from the small cap Russell 2000, which finished the day flat. The S&P 500 has already lost more than 2% in September, which is far greater than the historical average of a 0.4% loss for the index in September. Even worse news is that the bulk of historical losses have come in the second half of September, meaning markets could be looking forward to a good deal of pain in the coming two weeks. Some of Friday’s losses can be attributed to the quadruple-witching day, which is the expiration of stock index futures, stock index options, stock options, and single-stock futures. However there’s plenty to worry about in the coming weeks. That includes next week’s Federal Reserve meeting, and the possibility that the global economic recovery is floundering. Of course the COVID pandemic will also continue to weigh on sentiment. On a weekly basis the Dow Industrials fell 0.2%, the S&P 500 lost 0.6%, and the Nasdaq fell 0.5%. This is the second consecutive weekly loss for U.S. indices.
U.S. Daily Market Review
2021-09-17 10:29UTC
The main indexes dropped today as the market is still cautious due to a resurgent Covid cases.The Dow Jones Industrial Average slipped about 170 points or 0.5%. The S&P-500 tumbled 0.7% and the Nasdaq Composite declined 0.8%.United Airlines and Carnival Corp. both secured more than 1%. American Airlines and Delta also rose surged 1.5%.Norwegian Cruise Line advanced 3%.The USD appreciated to three-week highs today. The marked mode is still stimulated by the higher U.S. retail sales data released on Thursday that backed forecasts. The USD index registered 93.094, its highest since late August. It was last up 0.2% at 93.062.U.S. consumer sentiment entered into a steady pattern in early September, which is the weakest mark of the last decade. As a matter of fact, the University of Michigan stated that the consumer sentiment index rallied to 71 in the first half of September from 70.3 in August.
European Daily Market Review
2021-09-17 10:29UTC
European markets are still without a clear direction today as global investors continued to weigh the prospect of falling economic growth.The German DAX slipped 0.08%, the French CAC-40 lost 0.05% and the British FTSE-100 incline 0.02%.The pan-European Stoxx-600 was roughly flat by late morning, having earlier gained around 0.7%.U.K. retail sales tumbled in August, falling 0.9% month on month against a Reuters average estimate for a 0.5% rise. Euro zone inflation jumped to 10-year high in August, according to official data published Friday. Euro zone government bond yields rallied to two-month peak today after a report implied in that the European Central Bank is very likely to mark its inflation target by 2025.The GBP is preserving its ground below a recent one-month peak versus the USD on Friday as UK retail sales undershot expectations.British retail sales volumes unexpectedly lost some side last month in their longest streak of losses.
Gold Prices Advanced
2021-09-17 06:35UTC
Gold prices rallied this morning during the Asian hours but still advanced towards a second weekly retreat.Now, gold trades at $1764.90, which is a rise of $11.93 or 0.68% from the previous close of 1752.97. The daily trading range is from $1752.44 to 1765.10, while the volume is 43.82K. In the main market scope is the U.S. Federal Reserve policy decision that could provide give signals about asset tapering.The USD which is into a negative relationship to the precious metals, dropped this morning but is still around three-week peaks.The USD was stimulated by data reported yesterday that the U.S. core retail sales secured 1.8% on monthly basis and retail sales soared 0.7% month-on-month in August.Some predictions indicated in that the asset tapering could be launched as early as in November.
Asian Daily Market Review
2021-09-17 02:24UTC
Asian markets are trading mostly higher today after Wall Street recovered from sharp early losses overnight to close mixed as well. The same worries continue to drag on sentiment, both in the U.S. and in Asia. Japan’s Nikkei is trading 0.6% higher to lead gains across the region as the U.S. dollar has reversed the Yen strength. A weaker Yen is beneficial to Japanese exporters as they receive more Yen when they repatriate revenues from overseas. Shares of Softbank Group are trading 0.2% higher today, and Sony also has a 0.2% advance. Among the major exporters Toyota is also adding 0.2%, but Panasonic shares are 0.6% lower, while Canon is edging up by 0.1%. In Australia the S&P/ASX 200 is leading losses for the region as it trades 0.9% lower. After a single day of gains the big four banks have turned lower once more to weigh on the broader index. Shares of ANZ are 0.6% lower, NAB is falling 1.2%, Commonwealth Bank is down 0.3%, and Westpac has an 0.8% loss. The major miners are falling far more sharply however, with BHP losing 3.1% and Rio Tinto 3.4% lower. Chinese markets have opened to gains for the first time this week, with the benchmark Shanghai Composite trading 0.3% higher, while the smaller cap Shenzhen Composite is inching up by 0.1%. Over in Hong Kong the Hang Seng is also on the mend, adding 0.4% in early trade. South Korea’s Kospi trades 0.1% lower today, while the Taiex in Taiwan trades 0.1% higher. Southeast Asian markets are broadly lower, with Malaysia’s KLCI down 0.5%, while both the Jakarta Composite in Indonesia and the Straits Times in Singapore trade slightly lower by 0.1%.
Gold Slides On Strong Retail Sales Data
2021-09-16 20:27UTC
The slide lower in gold intensified yesterday as the U.S. dollar rallied following much stronger than expected U.S. retail sales data for August. U.S. gold futures fell to a one-month low, settling 2.1% lower at $1,756.70 an ounce. August retail sales in the U.S. increased by 0.7% versus expectations for a decrease of 0.8%. The growth indicated that the U.S. consumer remains resilient, and that gives the Fed more ammunition to begin tapering bond purchases before the end of the year. At this point it seems that gold bulls are running for the exits, and without some catalyst to halt the slide gold could continue heading lower in the coming weeks. Potential catalysts include some geopolitical event, or some news from the Fed, which is unlikely ahead of next Wednesday’s meeting of the central bank. Currently there are expectations for the Fed to come out as even more hawkish at next week’s meeting. Analysts are now expecting the Fed to modify its dot plot, or the future forecast for interest rate hikes, to indicate as many as six rate hikes through 2024. Currently the Fed is only forecasting three rate hikes through 2024. An increase in expectations for rate hikes will benefit the U.S. dollar, and gold has a strong negative correlation with the USD. There are many Fed members pushing for tapering by the end of this year, and strong calls for interest rate hikes in the coming year. That could spell disaster for gold over the coming weeks and months. However if the Fed disappoints and doesn’t meet current expectations we could get a rebound that takes gold back to the $1,800 level.
U.S. Daily Market Review
2021-09-16 12:39UTC
The main indexes are into a falling mode.The Dow Jones Industrial Average fell despite higher than estimated August retail sales.The S&P-500 slipped 0.6%. The Nasdaq Composite slipped 0.6%.The Commerce Department's August retail sales announced overall sales surge 0.7% on the month after a downwardly revised 1.8% loss in July.U.S. business inventory accumulation slowed in July as motor vehicle retailers struggled to restock amid an ongoing global semiconductor shortage, which is forcing automobile manufacturers to scale back production.Business inventories secured 0.5% after adding 0.9% in June, as reported by the Commerce Department.Furthermore, inventories gained little more than 7% on annual basis in July. 
European Daily Market Review
2021-09-16 08:01UTC
European stocks jumped today. This is the result of recovery in travel stocks and overnight strength in Wall Street.The German DAX added 0.60%, the French CAC-40 inclined 0.64% and the British FTSE-100 advanced 0.44%.The pan-European Stoxx-600 also surged 0.6% in early trade, with travel and leisure stocks adding 1.8% to lead the advancing path.British online trading company IG Group gained more than 4.1% to lead the Stoxx 600.Germany’s 10-year yield advanced to a new two-month peak as issuance was set to pick up again.Austria started the sale of a new 15-year bond in a syndication.Moreover, Spain is expected to raise around 5.5 billion euros from bonds due 2024, 2026 and 2031.
Crude Oil Prices Into A Higher Ground
2021-09-16 06:44UTC
Oil prices advanced this morning, extending the previous day's solid rallies. This comes after a greater than predicted drawdown in crude oil stocks in the United States.Now, oil trades at $72.65, which is a further gain of $0.04 or 0.06% from the previous close of 72.61. The daily trading range is from $72.39 to 72.99, while the trading volume is 28.499K. U.S. West Texas Intermediate (WTI) crude soared 18 cents, or 0.3%, to $72.78.U.S. crude oil and fuel stockpiles fell largely last week, as reported by the Energy Information Administration (EIA) said on Wednesday.Crude inventories dropped by 6.4 million barrels in the week to Sept. 10 to 417.4 million barrels, according by the EIA.
Asian Daily Market Review
2021-09-16 02:09UTC
Asian markets are trading mostly lower on Thursday morning, despite a solid rebound overnight for Wall Street. Investors in the region remain worried over slowing growth across the region, and the continued spread of the delta COVID variant. Japan’s Nikkei has a 0.1% loss as the Yen continues strengthening versus the U.S. dollar for a third consecutive session. Shares of Softbank Group are trading 1.3% lower, while Sony shares are rising modestly by 0.3%. Among the major exporters Toyota is trading 1% higher, but Panasonic shares are falling 0.9%, while Canon has a slight gain of 0.2%. In Australia the S&P/ASX 200 is leading gains for the region as it rises 0.7% after employment data for the country came in mixed, while the number of jobs fell by twice as much as expected, the unemployment rate also dropped to 4.5% versus 5% expected. Shares of the big four banks are rallying on the news, with ANZ trading 0.8% higher, NAB adding 0.6%, Commonwealth Bank advancing 0.7%, and Westpac also sporting a 0.7% gain. Mainland Chinese markets are mixed, with the benchmark Shanghai Composite rising 0.3% while the smaller cap Shenzhen Composite has a 0.4% loss. Over in Hong Kong the Hang Seng is 0.6% lower to lead losses for the region once again. South Korea’s Kospi is down 0.5%, and in Taiwan the Taiex is flat with a slight loss of less than 0.1%. Southeast Asian markets are little changed, with the Straits Times in Singapore adding 0.2%, while the KLCI in Malaysia and the Jakarta Composite in Indonesia are trading slightly lower by less than 0.1%.
Electronic Arts For A Holiday Boost
2021-09-15 20:44UTC
Shares of video game maker Electronic Arts fell 5.7% yesterday after reports on social media hinted at a possible delay in the release of the highly anticipated Battlefield 2042. That’s the largest daily drop in EA shares since November 2020, when the stock plunged 7.1% lower. That could make for a good buying opportunity if you believe that EA will outperform over the coming holiday season. Even with a shortage of chips for the Xbox and Playstation consoles, analysts believe that the video game makers can have great success over the coming holiday season. The 2020 holiday season was great for Electronic Arts, as was all of 2020 as the pandemic lockdowns caused more people to take up video gaming. However in 2021 the video gaming stocks have lagged the broader market as a number of factors have hit the industry, including hardware shortages, reopening trends that cut into gaming time for players, and the crackdowns on gaming from Chinese regulators. One upside for EA is that even as the video game makers have underperformed the broader market EA has been one of the best performers in the major game makers. Analysts are expecting some pressures due to the shortage of hardware consoles, however that could be offset by higher games prices as well as the fact that these are next generation consoles. And while gaming time is expected to decline, the biggest hit will be to real-time online games. That leaves EA in a good position relative to some other competitors such as Activision Blizzard. Overall EA has a very strong release schedule for the holiday season, and revenues should benefit.
The USD Retreated Some Territory
2021-09-15 13:13UTC
The USD retreated some side versus the main pairs after lower than predicted U.S. inflation data.The USD versus the Euro trades at 0.846 EUR, which is a decline of 0.0007 Euro or 0.08% from the previous close of 0.8468.The daily trading range is from 0.8453 to 0.8472.The USD index marked 92.441, a loss of about 0.3% on the daily basis.Moreover, the USD registered some tumbles after import prices dropped more than estimated in August.This comes as many Fed officials implied in that the Fed could reduce its buying of debt securities by the end of 2021.In the meantime, rising inflation data has preserved the pressure on the Fed.  Moreover, the USD slipped to a four-week bottom of 109.14 yen.
U.S. Daily Market Review
2021-09-15 11:02UTC
The main U.S. stock indexes are without a clear market direction at the start of the session. As a matter of fact, higher taxes created a burden on the economic recovery.Dow futures traded close to the flatline. The S&P-500 futures traded added 0.1% and Nasdaq 100 futures gained 0.2%.U.S. import prices tumbled for the first time in 10 months in August.In reality, import prices dropped 0.3% last month after increasing 0.4% in July, as reported by the Labor Department.The USD depreciated versus the mains pairs after lower than predicted U.S. inflation data released on Tuesday eased short-term forecasts.Manufacturing output secured 0.2% last month, according to the Federal Reserve.Goldman Sachs Group Inc. announced that will buy the lender GreenSky Inc. for $2.2 billion.In fact, Goldman will pay roughly $12 a share in stock for GreenSky.
European Daily Market Review
2021-09-15 11:02UTC
European markets are partly into a lower side after low Chinese economic data.The German DAX fell 0.16%, the French CAC-40 dropped 0.50% and the British FTSE-100 added 0.11%.The pan-European Stoxx-600 tumbled 0.2% below the flatline by mid-morning.The markets are focused on the German federal election on September 26, with polls indicating in the pattern is still too close to predict a clear winner.Ukraine is about to finally secure almost $1.5 billion of financing. The European Union gave a green light o9f aid and the International Monetary Fund prepares a review that could unfreeze a $5 billion loan.Moreover, the President of the European Commission, Ursula von der Leyen reported an additional €4 billion ($4.7 billion) in climate finance to transfer to developing nations.Euro zone government bond yields jumped today. Additionally, CPI numbers implied in that the Federal Reserve might be more dovish at next week’s policy meeting.
Gold Prices Dropped
2021-09-15 06:23UTC
Gold prices retreated this morning during the Asian hours, but are still above the $1,800.Now, gold trades at $1801.20, which is another loss of $2.59 or 0.14% from the previous close of 1803.79.The daily trading range is from $1800.69 to 1804.52, while the trading volume is 53.949K.The markets had to digest the lower numbers than predicted coming from the U.S. inflation that added to uncertainty over the timing of the Federal Reserve’s asset tapering.U.S. data released on Tuesday indicated in that the core consumer price index (CPI) advanced 4% year-on-year and 0.1% month-on-month in August.Meanwhile, silver declined 0.1% and platinum dropped 0.4% after marking over nine-month bottom of $930.83.
Asian Daily Market Review
2021-09-15 01:50UTC
Asian markets are headed mostly lower on Wednesday morning after U.S. consumer inflation came in weaker than expected, leaving the Federal Reserve some wiggle room in the timing of tapering their bond purchase program. Japan’s Nikkei is leading losses for the region, falling 0.8% as the Yen has also strengthened versus the U.S. dollar for the past two sessions. Shares of Softbank Group are falling 3.6% and Sony trades 0.8% lower. Among the major exporters Toyota is dropping 0.8%, Panasonic is down 1%, and Canon has a 0.7% loss. Australia’s S&P/ASX 200 is trading 0.7% lower, with more weakness from the big four banks contributing to the fall. Shares of ANZ are 0.9% lower, NAB trades 1.1% lower, Commonwealth Bank is falling 1%, and Westpac has pulled back by 0.9%. The major miners are are very weak as well, with BHP down 2.5% and Rio Tinto losing 1.4%. Mainland Chinese markets have opened lower once again, with the benchmark Shanghai Composite losing 0.3% at the open, while the smaller cap Shenzhen Composite has a loss of 0.6%. Over in Hong Kong the Hang Seng is trading lower by 0.8% as worries over further regulations against Chinese tech and gaming companies continues weighing on sentiment. In South Korea the Kospi is bucking the falling trend with a small gain of 0.2%, while the Taiex in Taiwan is edging lower by less than 0.1%. Southeast Asian markets are a mixed bag, with the Straits Times in Singapore falling 0.4%, while the KLCI in Malaysia adds 0.3%, and Indonesia’s Jakarta Composite is trading flat at the open.
Is It Time To Look To Small Cap Shares?
2021-09-14 20:23UTC
The S&P 500 has now traded down in six of the past seven sessions, as it posted a 0.6% loss yesterday, despite a cooler than expected reading on U.S. consumer inflation. That has some investors wondering where to move their capital if the S&P is likely to continue falling. There could be a good opportunity in the small cap sector, according to some analysts. As a clue they point to the discrepancies between the S&P 500, which was up 4% in August, and the small cap Russell 2000, which was down 4% in August. That vast underperformance leaves small cap shares undervalued, and it could mean a rebound is coming. “The underperformance of small caps against large has now brought the group to its cheapest valuation on a forward price-earnings basis relative to the S&P 500 in the last 20 years,” according to Jeff Mills, chief investment officer at Bryn Mawr Trust. Another sign that it might be time to move into small cap names comes from the start of 2021. At that time money was flowing into cyclical shares and small cap names in anticipation of the coming economic recovery. While the delta variant of COVID has caused some slowing in that recovery, it seems the recovery will pick up steam later in the year and heading into 2022. That means the cyclical and small cap groups should be in play once again. In fact, large cap names are a very crowded trade right now, with many trading at all-time highs. That could make a strategy of looking for value where others aren’t could pay off soon.
U.S. Daily Market Review
2021-09-14 11:50UTC
The leading U.S. stock indexes retreated earlier rallies after dropping back into their September lows.The Dow Jones Industrial Average slipped about 150 points, or 0.4%. The S&P-500 tumbled 0.1% and the Nasdaq Composite added 0.2%.August CPI advanced 0.3% month-to-month, or 5.3% versus last year. This came below the surge of 0.4% and 5.4% annual rise.Oracle stock price fell more than 3% after Oracle’s first-quarter revenue, came below estimates. The tech giant announced sales of $9.73 billion, which was short of the $9.77 billion forecasts. U.S. consumer prices jumped at their slowest rate of the last six months in August as used motor vehicle prices  lost some side.The USD declined today after data showed a lower than predicted rally of U.S. inflation last month.The USD index lost 0.1% to 92.498. This resulted in additional losses from more than a two-week peak from the beginning of the week.
The USD Is Into A Lower Side
2021-09-14 09:02UTC
The USD lost some ground this morning, with traders waiting for the release of the latest U.S. inflation data.Presently, the USD versus the Euro trades at 0.845 EUR, which is another retreat of 0.0008 or 0.09% from the previous close of 0.8465.Moreover, USD/JPY added 0.1% to 110.09, EUR/USD was flat at 1.1808, after recovering from Monday's bottom of 1.1770.The USD Index that tracks the greenback against versus the main pairs, slipped 0.06% to 92.597 by 10:21 PM ET (2:21 AM GMT).The main focus today is on the release of the U.S. consumer price data, at 8:30 AM ET (1230 GMT). Annual consumer price inflation could sunk to 5.3% from 5.4% in July, while core CPI.
European Daily Market Review
2021-09-14 07:39UTC
European markets are without a clear direction this morning as the markets are focused on the inflation data from the U.S.The German DAX slipped only slightly 0.08%, the French CAC-40 declined 0.79% and the British FTSE-100 dropped 0.37%.The pan-European Stoxx-600 moved around the flatline in early trade, with travel and leisure stocks securing around 0.5%.Euro zone bond yields surged close to peak marks on Tuesday, with the focus on a U.S. inflation print due later in the day.The data, due at 1230 GMT, will be watched closely before next week’s U.S. Federal Reserve meeting. British business hired a record 241,000. In fact, it is reported more than 1 million vacancies in August, which is the highest mark ever.
Crude Oil Prices Into A Solid Advance
2021-09-14 07:05UTC
AOil prices jumped to a six-week peak this morning amid issues over another storm.This is very likely to damage the supply coming from the state of Texas this week even as the U.S. industry has very hard time to return to normal production levels after Hurricane Ida.Now, oil trades at $70.908, which is a further rise of $0.272 or 0.39% from the previous close of 70.636.The daily trading range is from 70.489 to 71.120, while the trading volume is 9.481K.Oil prices rallied for a third straight session, with Brent crude reached to th peak since the beginning of August.U.S. West Texas Intermediate (WTI) crude also climbed 45 cents, or 0.6%, to $70.90 per barrel.The U.S. government agreed to sell crude oil from the nation's emergency reserve to eight companies including Exxon Mobil and Chevron.The Organization of the Petroleum Exporting Countries (OPEC), meanwhile, trimmed its world oil demand forecast for the last quarter of 2021 due to the Delta coronavirus variant. 
Asian Daily Market Review
2021-09-14 02:06UTC
Asian markets are mixed on Tuesday morning after Wall Street snapped a five session losing streak overnight. Concerns over inflation came back to light after Japan reported August wholesale prices at their highest levels in thirteen years. Growth concerns also remain high as global economic data has been less than stellar recently. Japan’s Nikkei is leading gains for the region with a gain of 0.8% despite the inflationary data. Shares of Softbank Group are flat, trading back and forth over unchanged levels, and Sony shares are 0.3% higher heading into the lunch break. Among the major exporters Toyota is 1.2% higher, Panasonic is flat with a slight loss, and Canon trades 0.4% higher. In Australia the S&P/ASX 200 is sliding lower by 0.3% as the big four banks are also mostly lower. Shares of NAB are losing 0.2%, Commonwealth is falling 0.3%, and Westpac is edging lower by less than 0.1%. Meanwhile ANZ shares are 0.1% higher as they buck the falling trend. The major miners are also bucking the falling trend, with BHP slightly higher by less than 0.1% and Rio Tinto rising 0.5%. Mainland Chinese markets are leading losses for the region as the benchmark Shanghai Composite is down 0.6% in early trade, while the smaller cap Shenzhen Composite is unchanged. In Hong Kong the Hang Seng is trading 0.4% lower. South Korea’s Kospi is trading 0.8% higher, and in Taiwan the Taiex has a 0.3% gain. Southeast Asian markets are making modest gains as the Straits Times in Singapore rises o.3%, while the KLCI in Malaysia and the Jakarta Composite in Indonesia are up less than 0.1%.
Crypto Daily Market Review
2021-09-13 21:24UTC
Cryptocurrency markets picked up this week in much the same way they ended last week, under pressure. Leading cryptocurrency Bitcoin (BTC) was flirting with the $44,000 level for the entire day, but never broke below that level, which is considered a major area of support. By the end of the day Bitcoin was down another 2.8%, with market dominance hovering around 41%. Ethereum (ETH), the second largest cryptocurrency by market cap, was down 4.5% to trade below the $3,300 level. Analysts are now predicting that we could see $3,000 before support is found. The only positive results in the top ten altcoins came from Polkadot (DOT), which traded higher by 3.5%. Otherwise it was a sea of red. Cardano (ADA) was the biggest loser in the group as its coin tumbled 9.7%, and even Solana (SOL) was unable to avoid losses as it fell 6.9%. Smaller losses were seen from Binance Coin (BNB), Ripple (XRP), and Dogecoin (DOGE), which fell 4.6%, 4.7%, and 3.7% respectively. The best gain in the top 100 came from the Mina Protocol (MINA), as its coin jumped 13.5% higher. Mina has been described as the world’s lightest blockchain, and it attempts to minimize computational requirements to run dApps more efficiently. Gains have been coming for Minda over the past four sessions after they announced their integration with Polygon to enable privacy-preserving applications on Polygon. Surprisingly given the broad based losses only one coin in the top 100 had a double digit percentage loss, and that was Revain (REV). There seemed to be no news as a catalyst for the drop.
Crude Rallies On Supply Concerns
2021-09-13 19:36UTC
Crude oil hit a six week high yesterday as U.S. supply concerns dominated trader sentiment, and an OPEC report forecast significantly higher crude demand in 2022. Adding to worries is tropical storm Nicholas, which is currently in the Gulf of Mexico and is anticipated to hit the Texas coast, which would further impact the refineries and producers along the Texas Gulf coast. Roughly 40% of all Gulf production remains out of commission two weeks following hurricane Ida, and now Nicholas could shut-in production even further if it hits the Texas coast as a hurricane. The global benchmark Brent crude futures rose $0.59, or 0.8%, to settle at $73.51 a barrel, while U.S. benchmark West Texas Intermediate (WTI) crude rose $0.73, or 1.1%, to settle at $70.45 a barrel. That was Brent's highest close since July 30 and WTI's highest close since August 3. Royal Dutch Shell reportedly evacuated personnel from one of its Gulf oil platforms ahead of the landfall of Nicholas, and other producers are preparing for hurricane force winds all along the Texas Gulf coast. Nicholas is expected to make landfall near Corpus Christi sometime late Monday night or early Tuesday morning. Early on Monday OPEC reported that it expects demand to remain muted in the fourth quarter, but also expects demand to rebound sharply in 2022, reaching levels greater than before the pandemic. At the same time OPEC and its allies are still increasing their own production into the fourth quarter of 2021. Some other bearish factors weighed on Monday's oil price gains, including rising U.S. shale output, potential supply increases from planned releases of oil from strategic reserves in the United States.
U.S. Daily Market Review
2021-09-13 17:30UTC
Wall Street indices are heading into the afternoon session looking as if they will snap a five session losing streak. A rally in crude has helped lift shares of energy companies, and that’s helping to power market indices higher. As the afternoon kicks off on Wall Street the benchmark S&P 500 is trading up by less than 0.1%, while the Dow Industrials are outperforming with a gain of 0.3%. Meanwhile the tech heavy Nasdaq is flat, trading back and forth over unchanged levels. The small cap Russell 2000 is outperforming with a gain of 0.7%. Last week saw the S&P 500 put in its worst performance since June, so the rebound today is welcome to investors. However, worries over rising inflation and continued high levels of delta COVID infections have capped upside potential for markets. In the S&P 500 subsectors energy is outperforming with a 2.7% advance. The financials are also trading 0.7% higher today in anticipation of the Fed tapering their bond purchase program. And the beaten down real estate sector has a 0.5% gain. At the other side of the leader board is the health care sector, which is trading 0.6% lower today. The materials and utilities sectors are each trading 0.4% lower. Reports of additional COVID boosters being unnecessary at this time has sent shares of Moderna falling 4%, while Pfizer and BioNTech are down 2% and 5.5% respectively. Shares of Twitter also fell 3.2% after Goldman Sachs initiated coverage on the stock with a sell rating. Meanwhile shares of Dell gained 3.7% after Goldman Sachs added the stock to its conviction buy list.
European Daily Market Review
2021-09-13 15:25UTC
European markets have gotten off to a strong start this week, making broad based gains as investors continue to weigh the European Central Bank decision to slow down its bond buying. Energy stocks are leading the charge higher today in response to a rally in crude, while retailers are underperforming. The pan-European Stoxx Europe 600 is trading 0.4% higher today, with Germany’s DAX 30 adding 0.8%. In France the CAC 40 has a more modest 0.3% advance. In Spain the IBEX 35 is leading gains for the region as it’s jumped 1.5% higher, while the FTSE MiB in Italy is trading up by 1.1%. Among the DAX 30 components in Germany the automotive sector is clearly leading. Daimler is at the top of the leader board with a 4% gain, while Continental AG has a 3.6% advance, and BMW is adding 3.3%. The worst performance in the DAX 30 is from Delivery Hero, with shares of the food delivery company falling 1.8%. In France the CAC 40 is led by Total Energies, with shares trading 2.9% higher. Aerospace and defense company Safran is seeing its shares trade 2.6% higher, while auto maker Renault is up by 2.4%. The French luxury retailers are all a the bottom of the leader board, with Kering losing 2.7%, Hermes International 1.6% lower, and Louis Vuitton falling 1%. In the U.K. the FTSE 100 trades 0.6% higher, with shares of Royal mail leading the way as it trades 0.6% higher. At the bottom of the index is Auto Trader Group, with shares trading down by 3.1%.
Asian Daily Market Review
2021-09-13 02:03UTC
Asian markets got off to a cautious start to the week, but soon fell back and moved mostly into negative territory as investors remained worried over the Chinese regulatory atmosphere and the potential for the U.S. to raise taxes on corporations and the wealthy. In Japan the Nikkei hit a 30-year high in early trade before pulling back to trade 0.2% lower heading into the lunch break. Shares of Softbank Group are trading 1.4% lower today, and Sony has a loss of 0.8%. Among the major exporters Toyota is trading lower by 2.4%, while Canon is edging higher by 0.2% and Panasonic shares are flat. Australia’s S&P/ASX 200 is one of the few rising markets as it trades modestly higher by 0.2%. Shares of the big four banks are mostly lower however, with NAB losing 0.6%, Commonwealth Bank falling 0.6%, and Westpac losing 0.3%, while ANZ is edging slightly higher by less than 0.1%. The major miners are helping to support the broader market however, with BHP adding 1.3% and Rio Tinto rising 1.7%. In mainland China markets have gotten off to a mixed start as the benchmark Shanghai Composite adds 0.3%, but the smaller cap Shenzhen Composite inches lower by less than 0.1%. In Hong Kong the Hang Seng is plunging 1.6% lower to lead losses in the region as investors worry that Chinese regulators will crack down further on tech companies. South Korea’s Kospi is trading modestly lower by 0.2%, and in Taiwan the Taiex is losing 0.3%. Southeast Asian markets are also falling, with Singapore’s Straits Times 0.9% lower and the KLCI in Malaysia falling 0.4%.
Crypto Daily Market Review
2021-09-10 20:24UTC
Cryptocurrency markets remain largely under pressure Friday, with Bitcoin (BTC) pulling back another 2.4% to the $45,500 area, while Ethereum (ETH) is trading 4.6% lower and testing the $3,300 level for support. In the top 10 cryptocurrencies Cardano (ADA) is having the largest loss, falling 5.1% just two days before it launches smart contract functionality on its blockchain. That event could spark a recovery for ADA if one hasn’t already begun by then. The rest of the top 10 are a sea of red as well. Binance Coin (BNB) is trading 3.3% lower, and Solana is trading down by 3.9%. However Solana also remains the only top 10 coin that remains positive on a weekly basis, with a 26.8% gain over the past 7 sessions. Ripple (XRP) is the best performer in the top 10 as it trades just 1.7% lower, although Polkadot (DOT is very close with its 1.8% decline. Dogecoin (DOGE) has a loss of 3.8%. Other than Solana all the top ten cryptos are looking at losses greater than 10% over the past 7 days. There are a handful of tokens rising today, mostly tied to the NFT space. The best gain however, is coming from Terra (LUNA), which is up 33.8% on the day. Interestingly, one of the supposed features of the LUNA token is price stability, although that stability is in its fiat-pegged stablecoins. Surprisingly given the broad based losses being seen there aren’t many tokens with double digit losses. One of those that does have a double digit loss is Algorand (ALGO), with a drop of 18.9%. Of course that drop follows yesterday’s roughly 50% gain.
Apple Loses Key Lawsuit
2021-09-10 18:23UTC
Shares of tech giant Apple fell 2.6% on Friday after a judge ruled against the company in a lawsuit brought by gaming company Epic Games. US District Judge Yvonne Gonzalez Rogers said Friday that Apple must stop restricting developers from directing users away from in-app purchasing, a move that could let developers avoid the company’s 15-30% cut it takes on some sales. The judge did stop short of calling Apple a monopoly, but noted that the company “is engaging in anti-competitive conduct under California’s competition laws.” The injunction order by the judge doesn’t take effect until 90 days from now, meaning Apple is very likely to appeal the decision before that time. Apple has not replied to the injunction as of late Friday. Needless to say the injunction is a major setback for Apple since it applies across the board to all the apps listed in its App Store. The company could potentially see the loss of billions of dollars in revenues garnered through the 15-30% commission it levies on in-app sales. Plus, the injunction could also have an impact on other companies that operate app stores. For example, Epic Games has a similar lawsuit pending against Alphabet in regard to apps in its Google Play store. Shares of Alphabet were down 2% on Friday as a result. Apple shares have struggled in the first half of 2021, but have made gains since that time and are up 13% since the start of the year. That’s still underperforming both the Nasdaq and the S&P 500, with those indices up 18.3% and 19.6% respectively since the start of 2021.
U.S. Daily Market Review
2021-09-10 16:54UTC
U.S. markets have managed to reverse early losses caused by strong inflation data, and major indices are trading modestly higher heading into the afternoon session on Wall Street. The small cap Russell 2000 is leading gains as it trades 0.2% higher, while the technology heavy Nasdaq has a gain of 0.1%. That indicates risk appetite is returning to the markets for the afternoon. Meanwhile, both the benchmark S&P 500 and the Dow Industrials trade up by less than 0.1%. The S&P 500 subsectors are mixed, with six of the eleven sectors trading in positive territory. The materials sector has a commanding lead as it trades 1.1% higher, followed by a 0.6% gain for the energy sector. The energy sector is getting a boost today from rising crude prices as traders worry over supply concerns as U.S. production struggles to recover following last week’s hurricane IDA. Among the losers the utilities sectors is down the most with a loss of 1%. The defensive real estate sector is also trading 0.6% lower as the uptick in risk appetite weighs on the defensive stocks in the index. In the Nasdaq 100 shares of Peloton are leading the way higher with a gain of 9% after announcing the launch of its own apparel brand that will go head-to-head with Lululemon. Following that is Match Group with a gain of 5.4% as investors are bidding the dating company’s stock higher on news of inclusion in the S&P 500. Meanwhile the biggest Nasdaq loser today is financial services firm Fiserv, with shares trading 3% lower. Following them is Apple, whose shares are down 2.3%.
European Daily Market Review
2021-09-10 16:39UTC
European markets reversed early gain on Friday to finish the session broadly lower as traders weighed the latest European Central Bank monetary policy decision, and reacted to blazing hot producer inflation data in the U.S. The pan-European Stoxx Europe 600, the broadest measure of European equities, finished the session 0.3% lower, with Germany’s DAX 30 edging lower by less than 0.1% and the CAC 40 in France losing 0.3% as well. Meanwhile the IBEX 35 in Spain plummeted 1.2% to lead losses across the region, and Italy’s FTSE MiB finished 0.9% lower. Among the DAX 30 components shares of semiconductor manufacturer Infineon led the gains as it tacked on 1.9%, and was closely followed by a 1.8% gain from Siemens AG. Meanwhile shares of kidney dialysis services provider Fresenius Medical Services plunged 4.5% lower after JPMorgan analysts downgraded the stock from Neutral to Underweight. The CAC 40 components were led by tech shares, with information technology services provider Atos leading the way with a 5.8% gain after being recognized as a 2021 Gartner Peer Insights Customers’ Choice for Data and Analytics Service Providers. STMicroelectronics also added 1.7%. At the bottom of the leader board was rail giant Alstom, with a loss of 2.7%. In the U.K. the FTSE 100 inched up by less than 0.1% as it outperformed the rest of the region. Shares of Antofagasta led the index with a gain of 3.5% after the mining firm issued an interim dividend of $0.236. Rio Tinto also gained on the news, adding 2%. The biggest loser in the index was British Airways parent company IAG, with its shares falling 4.1%.
European Daily Market Review
2021-09-10 10:58UTC
European markets surged only partly today, in hand with the mode of the global markets.The German DAX inclined 0.35%, the French CAC-40 gained 0.29% and the British FTSE-100 secured 0.39%.The pan-European Stoxx 600 advanced 0.3% higher in early trade, but is still on track to end the week into a fallins side. The European Central Bank’s annoucned that will moved to a lower gear its bond buying under its pandemic emergency purchase programme (PEPP) in response to higher inflation and stronger GDP growth across the union.The British  economy added only 0.1% in July, according to the official statistics showed on Friday, as the spread of the delta variant of Covid-19 slowed economic activity.Russia’s central bank raised its key interest rate to 6.75% on Friday. This is the fifth hike in 2021 alone.The central bank reported that inflation was at 6.73% in the first week of Sept. 6 and on track to return to 4.0-4.5% in 2022.
Crude Oil Prices Advanced
2021-09-10 06:17UTC
Oil prices jumped this morning during the Asian hours but are about to mark some weekly drops of nearly 2%. Now, oil trades at $68.715, which is a rise of $0.826 or 1.22% from the previous close of 67.889.The daily trading range is from $67.669 to 68.859, while the trading volume is 12.534K.China released crude from its strategic reserve supply and warnings of falling sales from some U.S. airlines.In fact, both Brent and WTI futures retreated to their bottom mark since Aug. 26.Shell was forced to cancel some export cargoes as the recovery from Hurricane Ida remains slow. Meanwhile, yesterday’s U.S. crude oil supply data from the U.S. Energy Information Administration indicated in a draw of 1.529 million barrels. Crude oil supply data from the American Petroleum Institute the day before demonstrated draw of 2.882 million barrels.
Asian Daily Market Review
2021-09-10 01:58UTC
Asian markets are edging mostly higher on Friday morning following a losing session on Wall Street, and after the European Central Bank said yesterday that it will begin slowing the pace of bond purchases under its emergency asset purchase program. Concerns over regulations in China continue to weigh on sentiment as investors are cautious over the impact, particularly to tech and gaming related companies. Japan’s Nikkei is trading 0.3% higher, although the Yen has gained ground on the U.S. dollar overnight. Shares of Softbank Group are edging up by less than 0.1%, while Sony shares are adding 0.7%. Among the major Japanese exporters Toyota are 0.2% higher, while Panasonic adds 1.5% and Canon is up by 0.5%. In Australia the S&P/ASX 200 is snapping a three session losing streak with a gain of 0.4% as the big four banks pace the gains for the broader market. Shares of ANZ are 0.4% higher, NAB is adding 0.2%, Commonwealth Bank is advancing 0.6%, and Westpac is 0.2% higher. The major miners are outperforming today, with BHP gaining 0.9% and Rio Tinto trades 0.8% higher. Mainland Chinese markets have opened mixed, with the benchmark Shanghai Composite up 0.3%, while the smaller cap Shenzhen Composite, which also contains most tech names, is trading 0.2% lower. Meanwhile Hong Kong’s Hang Seng is rebounding from losses earlier in the week and is leading gains for the region with a 1.1% advance. South Korea’s Kopsi is one of the few losers in the region today, but it’s a slight loss of less than 0.1%. In Taiwan the Taiex trades up slightly by 0.1%.
Moderna Shares Jump On Two-In-One Vaccine News
2021-09-09 17:08UTC
Shares of Moderna jumped higher by 6.8% yesterday after the pharmaceutical company announced it is developing a two-for-one vaccine that combines its current COVID-19 vaccine with a seasonal flu shot. The vaccine would be a yearly booster for both the novel cornavirus mutations, as well as the seasonal flu mutations. If successfully developed it could ensure that Moderna is able to continue producing and selling potentially billions of vaccine doses annually. Already in 2021 Moderna has booked nearly $20 billion in revenue, with expectations for delivery of 1 billion doses of the COVID-19 vaccine. The company has already stated that it expects to deliver another 2-3 billion doses in 2022. If it develops a two-for-one booster vaccine that combines COVID-19 protection with protection from the seasonal flu it could see similar sales numbers in each year following 2022. Moderna has been leading development in mRNA vaccine technology, but the COVID-19 vaccine has been the first vaccine using this new technology to be approved by the U.S. Food and Drug Administration. Obviously this gives Moderna a solid first mover advantage, but investors should also consider the possibility of coming competition. Already Pfizer’s vaccine is very serious competition, and Moderna could face pricing pressures in coming months as other pharmaceutical companies develop and release their own COVID-19 vaccines. Moderna does have a number of other products in the pipeline, but there’s no telling when those could be released. If the demand for the COVID-19 vaccine declines, or strong competition emerges, before Moderna is able to release other therapeutics it could have a significant negative impact on the company’s revenues.
U.S. Daily Market Review
2021-09-09 11:52UTC
The major stock markets are still without a clear market direction as as the 30-stock Dow attempted its first day of gains.The main indexes soared after data showed weekly jobless claims sunk close to a near 18-month bottom.The Dow Jones Industrial average secured 20 points. The S&P-500 is around the same marks, while the Nasdaq Composite inclined 0.2%.Moderna shares gained 6% after the company reported that is developing one single dose combines boosters against Covid and the flu. Some of the big tech stock of Apple, Facebook and Amazon advanced amid the economic uncertainty, stimulating the Nasdaq a bit.The number of Americans filing new claims for jobless benefits dropped to the lowest level in nearly 18 months last week.In reality, the weekly unemployment numbers coming from the Labor Department indicated that the number of officially workers declined to levels last seen in mid-March 2020.
European Daily Market Review
2021-09-09 11:15UTC
European stocks into a falling side as mot the market is focused on the report from the European Central Bank.The German DAX fell 0.30%, the French CAC-40 lost 0.25% and the British FTSE-100 declined 1.16%.The pan-European Stoxx-600 lost 0.4% in early trade, with travel and leisure stocks tumbling 1.5% to lead the declining mode.The Ukrainian central bank raised its main interest to 8.5% from 8.0% this morning. In fact, this is the fourth rate hike this year, trying to fight against rising inflation figures.EasyJet has refused a takeover offer from the Hungarian Wizz Air. This could have resulted in a low-cost airline to rival Ryanair, opting instead to raise $1.7 billion from shareholders and, trying to regain its ground from the pandemic.The euro currency advanced just before the likely reduction in the pace of the European Central Bank's bond buying program.
Gold Prices Into A Dropping Pattern
2021-09-09 07:13UTC
Gold prices declined this morning during the Asian hours but are still around two-week bottoms.Now, gold trades at $1791.53, which is a small recovery of $2.94 or 0.16% from the previous close of 1788.59.The daily trading range is from $1786.49 to 1791.70, while the trading volume is 83.086K. The rising rate of the USD  Index Futures added to the precious metal’s retreats.Meanwhile, the market is focused on the European Central Bank (ECB)’s latest policy decision.Moreover, the ECB will report its policy decision later today.Meanwhile, the Bank of Canada preserved its interest steady at 0.25%.Many market analysts are now focused whether the U.S. Federal Reserve will begin asset tapering within 2021.Meanwhile, the global platinum market will be in surplus this year.In other precious metals, platinum slipped 0.4% and silver dropped 0.1%.
Asian Daily Market Review
2021-09-09 02:17UTC
Asian markets started out Thursday morning trading lower in response to the overnight losses on Wall Street. Investors have become increasingly worried over global growth prospects, the spread of COVID-19, supply chain problems, and the possibility of a market correction due to stretched valuations. In Japan the Nikkei is trading 0.5% lower, with the weaker Yen helping keep the index from larger losses. Shares of Softbank Group are trading 1.9% lower after a two-day rally that added more than 10% to the value of the shares. Meanwhile Sony shares are flat. Among the major exporters Toyota is edging lower by 0.2%, while Panasonic is falling 1.2% and Canon is flat. Australia’s S&P/ASX 200 is falling 1% to lead losses across the region. The big four banks are pacing the loss for the broader index, with ANZ trading 1.1% lower, NAB down 0.9%, and both Commonwealth Bank and Westpac falling 1%. The major miners are performing even worse, with BHP down 1.5% and Rio Tinto dropping 2.1%. Mainland Chinese indices have opened modestly lower, with the benchmark Shanghai Composite losing a slight 0.1%, while the smaller cap Shenzhen Composite is 0.2% lower. Over in Hong Kong the Hang Seng is underperforming with a loss of 0.9%. In South Korea the Kospi is 0.7% lower, and in Taiwan the Taiex has a 0.4% loss. Southeast Asian markets are mostly lower today as well, with Singapore’s Straits Times index losing 0.2%, the KLCI in Malaysia falling 0.5%, while the Jakarta Composite in Indonesia is one of the only rising markets with a gain of 0.3% at the open.
U.S. Daily Market Review
2021-09-08 16:20UTC
The major stocks and indexes are into a lower side today. The Dow Jones Industrial Average slipped for a third session.The Dow retreated about 100 points. The S&P-500 declined 0.35%. The Nasdaq Composite lost more than 0.8% after closing at a record on Tuesday. Treasury Secretary Janet Yellen once again pressured the Congress to stimulate or suspend the nation's debt ceiling.Coinbase tumbled more than 3% after the crypto exchange revealed it received a notice of possible enforcement action from the Securities and Exchange Commission.U.S. bank profits tumbled 8.3% to $70.4 billion in the second quarter of 2021 as firms slowed their reductions in credit loss provisions, as reported by the Federal Deposit Insurance Corporation.The number of new jobs jumped to a record peak for a fifth straight month in July as employers are still having hard time to employ additional workers. In fact, the total number of job openings rallied by 749,000 to a seasonally adjusted 10.934 million at the end of July, announced by the Labor Department.
European Daily Market Review
2021-09-08 09:30UTC
The major European stocks dropped today, indicating in cautious trade in global markets.The German DAX slipped 1.41%, the French CAC-40 dropped 1.16% and the British FTSE-100 lost 1.10%.The pan-European Stoxx-600 also declined 1.3% by mid-morning.Siemens Gamesa tumbled more than 7% to the bottom of the Stoxx 600.B&M European Value Retail shares rallied 4% after a promising trading update.Swedish investment company EQT lost almost 6%, while Stellantis slipped 2.5%.French drugmaker Sanofi retreated 1.4% after decided to buy U.S. biopharmaceutical company Kadmon Holdings Inc for a massive deal of $1.9 billion.British industrial technology company Smiths Group surged almost 4% after reporting will sell its medical unit to U.S.-based ICU Medical Inc for $2.4 billion.
Oil Prices Are Into A Steady Path
2021-09-08 06:29UTC
Oil prices only partly moved this morning following overnight losses from a rising USD.Additionally, there are worries over demand levels amid worries over rising COVID-19 cases across the globe.Now, oil trades at $68.748, which is a rise of $0.381 or 0.56% from the previous close of 68.367.The daily trading range is from $68.299 to 68.838, while the trading volume is 8.431K.U.S. West Texas Intermediate (WTI) crude futures secured 11 cents, or 0.2%, to $68.46 per barrel.Supply from the U.S. Gulf of Mexico is still having hard time to restart operations nine days after Hurricane Ida swept through the region.Almost 80% of U.S. Gulf production was still shut down yesterday, with 79 production platforms still unoccupied. The markets are focused on data from the American Petroleum Institute industry group coming later today and the U.S. Energy Information Administration.
Asian Daily Market Review
2021-09-08 01:44UTC
Asian markets are trading mostly lower on Wednesday morning after a fairly negative session on Wall Street as investors are worried that the continued spread of the delta variant of the COVID-19 virus is going to slow the economic recovery. Japan’s Nikkei is rising 0.2% in early trade as a weaker Yen versus the U.S. dollar is helping to support Japan’s exporters. Shares of Softbank are rallying for a second consecutive session adding 5.1% after adding more than 5% yesterday. Meanwhile shares of Sony are trading 1% lower. Among the major exporters Toyota is edging lower by less than 0.1%, but Panasonic is trading 1% higher and Canon has a modest 0.2% gain. In Australia the S&P/ASX 200 has dropped 0.4%, with the big four banks providing some support for the broader index. Shares of ANZ are trading slightly lower by 0.1%, NAB is gaining 0.2%, Commonwealth Bank is 0.3% higher, and Westpac is edging up by 0.1%. Meanwhile the major miners are dropping, with BHP falling 1% and Rio Tinto losing 0.3%. Mainland Chinese markets have opened little changed and mixed as the benchmark Shanghai Composite trades lower by less than 0.1%, while the smaller cap Shenzhen Composite trades less than 0.1% higher. Over in Hong Kong the Hang Seng is advancing 0.2%. South Korea’s Kospi is edging lower by less than 0.1%, and in Taiwan the Taiex is 0.1% lower. Southeast Asian markets are also falling, with the Straits Times in Singapore leading losses for the region with a loss of 0.8%, while Malaysia’s KLCI is inching lower by less than 0.1%, and the Jakarta Composite in Indonesia
Netflix May Be The Best FAANG
2021-09-07 19:47UTC
With the FAANG stocks regaining their mojo over the past month traders are honing in on which of these mega-cap tech names might make the best opportunity as we head into the holiday season. At least one analyst believes that stock is Netflix, and shares of the streaming video service added 3.1% yesterday to highlight just how accurate that prediction might be. You see, while Amazon, Apple, Alphabet, Facebook, and Netflix have all outperformed the S&P 500 over the past month, there are reasons to believe Netflix is the strongest play out of the five as we head into the major holiday season. With macro headwinds, labor shortages and supply chain constraints weighing the markets are looking vulnerable, but Netflix may have a secret weapon to counter any negative impacts from these forces. For example, Netflix hardly faces the type of supply chain issues that could really hurt Apple and Amazon during the holiday season. In fact, if consumers can’t put hands on the gifts they were planning on getting, perhaps they’ll find a Netflix subscription to be a suitable alternative. Netflix shares have also recently broken out from a long consolidation period, and that breakout seems to have enough momentum to push the stock up by another 18% according to analysts. That said, Netflix, like the other FAANG stocks, is quite overvalued at current levels. That could raise a warning flag for investors who want to didge a potential selloff if the market cools. Naturally all the FAANG names are very high quality companies, but at current levels they may not be appropriate fodder for short-term traders.
U.S. Daily Market Review
2021-09-07 12:35UTC
The main U.S. stocks are partly into a lower side today with Wall Street indices hovering just around last week's record peak marks. The Dow declined 205 points, dragged down by a 2% decline in Boeing’s stock. The Nasdaq Composite gained 0.2%, notching a new intraday record. Conglomerates of Amazon.com Inc (AMZN.O), Facebook Inc (FB.O), Apple Inc (AAPL.O), Google-owner Alphabet Inc (GOOGL.O) assisted the offset and the effect of higher yields.Apple Inc. AAPL, secured 1.68% after announcing that it expects Sept. 14, when the giant is would report its new line of iPhones. The tech giant stated that the event will launch at 10 a.m. Pacific time and can be viewed at apple.com or on the Apple TV app. U.S. government bond yields advanced and added to the rise from Friday in the wake of the jobs report and ahead of a fairly busy week.
European Daily Market Review
2021-09-07 08:19UTC
European stocks are still without a solid direction today but into registering some minor losses. This is implying in similar trade in their Asia-Pacific counterparts overnight.The German DAX slipped 0.18%, the French CAC-40 lost 0.05% and the British FTSE-100 declined 0.24%. The pan-European Stoxx-600 dropped 0.1% lower in early trade.British housebuilder Vistry added 5% to lead the Stoxx 600 after its first-half earnings report.Spain is about to introduce its first ever green bond on Tuesday.The 20-year bond sale will raise 5 billion euros, according to IFR.The USD moved around a one-month low on Tuesday as softer Treasury returns.Deutsche Telekom dedicated more than $7 billion to raise its stake in its U.S. unit T-Mobile.Deutsche Telekom share advanced more than an average price of $109 per share for the T-Mobile shares.
The USD Is Into A Falling Side
2021-09-07 08:05UTC
The USD lose some ground today during the Asian hours but is still close to recent bottom marks.Now, the markets are focused on the central bank policy decision from Australia.Presently, the USD versus the Euro trades at 0.842 EUR.The USD Index that tracks the greenback versus the main pairs slipped 0.11% to 92.112 by 10:33 PM ET (2:33 AM GMT).The Federal could delay beginning asset tapering after the latest U.S. jobs report. The Reserve Bank of Australia (RBA) will report its later today.Moreover, the Bank of Canada, which will hand down its decision tomorrow.In addition, the European Central Bank’s policy decision will round up the week on Thursday.
Gold Prices Fell
2021-09-07 05:44UTC
Gold price retreated this morning during the Asian hours but are still above the $1,800 mark. The USD depreciated and there are higher estimates that the Fed will delay beginning asset tapering.Now, gold trades at $1818.25, which is a loss of $4.77 or 0.26% from the previous close of 1823.02.The daily trading range is from $1818.10 to 1827.14, while the trading volume is 37.294K.The USD is into a negative relationship to the precious markets, dropped today. Moreover, the European Central Bank handing down its policy decision later this week on Thursday. The Reserve Bank of Australia will report its policy decision later in the day.The U.S. Federal Reserve is expected to delay beginning asset tapering after the jobs report came out last Friday showed in lower than predicted non-farm payrolls. In the meantime, silver firmed is around 0.4% to $24.76 per ounce and palladium is around its values of $2,410.51.
Asian Daily Market Review
2021-09-07 02:10UTC
Asian markets are mixed on Tuesday as investors are taking a break following Monday’s solid gains, and as they’ve received little guidance with U.S. markets closed overnight. Strong overnight gains in Europe are doing little to help Asian markets, gold is little changed around the $1,825 level, and crude oil is erasing overnight losses with a gain of 0.6%. Japan’s Nikkei is leading gains for a second consecutive session, rising 0.7% on Tuesday. Shares of Softbank are surging 5.3% higher, but Sony shares are edging lower by 0.1%. Among the major exporters Toyota is adding 0.4%, while Panasonic is 2.4% higher and Canon is inching higher by 0.2%. In Australia the S&P/ASX 200 is trading 0.4% lower as the big four banks are weighing on the broader market. Shares of ANZ are falling 0.5%, NAB has a 1% loss, Commonwealth Bank is down 0.4%, and Westpac is falling 0.6%. Meanwhile the major miners are performing even worse as BHP loses 1.4% and Rio Tinto drops 1.7%. Mainland Chinese markets have opening little changed, with the benchmark Shanghai Composite flat, while the smaller cap Shenzhen Composite is gaining 0.2%. Investors are worried that the Chinese crackdown on tech will hurt growth in the country. Over in Hong Kong the Hang Seng is edging higher by 0.1%. South Korea’s Kospi is falling 0.6% to lead losses across the region, and in Taiwan the Taiex trades 0.4% lower. Southeast Asian markets ate mixed, with the KLCI in Malaysia rising 0.2%, the Jakarta Composite in Indonesia flat, and the Straits Times Index in Singapore losing 0.3%.
Daily Crypto Market Review
2021-09-06 20:36UTC
Crypto markets extended the gains made over the weekend on Monday, with leading cryptocurrency Bitcoin (BTC) advancing another 2.5% to test the waters at the $52,000 level. Ethereum (ETH), the second largest cryptocurrency by market cap, edged up by 0.5%, but remained unable to get above the $4,000 level. Among the top ten cryptocurrencies the best performance of the day came from Solana (SOL). The rival to Ethereum has been on a rocket ship to the moon and that continued Monday as it added another 17.7%. Solana is now up roughly 450% over the past month. Ripple (XRP) was another solid gainer, with its token adding 7.9% to $1.39. While the ongoing SEC lawsuit continues to be a headwind for Ripple analysts are now calling for the global payments solution protocol to see its token hit $3 by the end of the year. Rounding out the gains for the top ten was Polkadot (DOT), whose token added a modest 1%. As for the losers, number three coin Cardano (ADA) lost 3.9% to lead losses for the group, while Dogecoin (DOGE) fell 1.2%, and Binance Coin (BNB) edged lower by 0.4%. There were a number of coins in the top 100 adding double digit percentage gains on Monday, but the best gain came from OMG Network (OMG), whose token rose 21.2%. The project, which was once a top twenty token, looks to be coming back to life after a long hiatus from the spotlight. The worst performer is Filecoin (FIL), with its token falling 8.7%. It had previously been one of the best performing tokens, so today’s loss could be profit-taking.
The Coming Week In Markets
2021-09-06 19:41UTC
While U.S. stock markets were closed on Monday the shortened trading week still features some highlights that will keep investor interest piqued. In terms of individual stocks there are a handful of interesting earnings reports and investor days. Meme stock Gamestop will release its quarterly results on Wednesday, as will athletic wear maker Lulumon. Those interested in the industrial space will be looking forward to International Paper’s earnings on Thursday, while grocery chain Kroger has a Friday earnings release. In addition to the earnings reports there’s also a number of investor days or meetings, starting with Analog Devices on Wednesday. The company just completed a $21 billion acquisition of Maxim Integrated Products, which will make the meeting quite interesting. On Thursday investors will hear from Moderna, Home Depot, and Danaher. The Moderna meeting will be particularly important as it discusses vaccines in the pipeline. In terms of economic data the highlight of the week comes on Friday when the U.S. releases its August Producer Price Index. Economists are expecting a 0.6% rise in the headline index, with a 0.5% jump in the core index that strips out volatile energy and food prices. Both headline and core indices rose 1% in July, so a lower rate will help allay fears of growing inflation. Wednesday sees the Federal Reserve release its latest Beige Book, which is chock full of data regarding business, labor, and economic condition in each of the Fed’s dozen central bank districts. The European Central Bank will also meet to set monetary policy, although there’s no change expected from the current negative 0.5% interest rate.
U.S. Daily Market Review
2021-09-06 15:57UTC
Despite the disappointing jobs report released last week in the U.S., or perhaps because of it, markets headed to new record heights to close out the week ahead of a holiday weekend. U.S. markets are closed today in observance of the Labor Day holiday, but we can still have a look at what’s been driving markets higher, and whether the rally can hold. Markets have been relentless in their climb higher throughout the summer, despite the rising number of COVID-19 cases, and the prospect of the Federal Reserve removing some of its monetary stimulus. Now as we head into the fall and the final few months of 2021 it looks as if markets may be experiencing the type of froth that can often lead to a correction. In fact, some analysts have pointed to several factors that make markets now look very similar to the tops experienced in 1999-2000 and 2007-2008 just before crashes occurred. For example, during the 1999-2000 dot-com bubble many stocks shot higher regardless of their fundamentals, much as we’ve seen from the likes of AMC Theaters and Gamestop this year. In addition, it’s quite easy to see that we have a market that’s very expensive, and one that has many stocks currently looking overbought. Take a look at the Nasdaq 100 for example. Currently the Nasdaq QQQ ETF trades 70% above its 200-week moving average. That’s considerably higher than its been prior to past market corrections. That said, the market is not likely to see a correction without some type of catalyst. And the technicals could improve without a large correction. For example, a sideways market would also rein in the technicals.
European Daily Market Review
2021-09-06 14:59UTC
European markets are trading broadly higher on Monday morning after last Friday’s non-farm payrolls data indicated that the Federal Reserve will likely hold off on tapering of their bond purchases, keeping monetary stimulus going for longer than previously thought. In Germany the DAX is leading gains for the region as it’s advancing 1.1%. France’s CAC 40 is also having a strong day, adding 0.9%. In Italy the FTSE MiB is 0.9% higher as well, while the IBEX 35 in Spain is trading up by 0.4%. In the German DAX 30 Siemens AG and Deutsche Bank are leading the charge higher, with both gaining 2.7% on the day. Meanwhile automotive parts conglomerate Continental AG is at the bottom of the leader board with a loss of 1.1%. In France the leading stock on the CAC 40 is luxury goods maker Louis Vuitton, trading higher by 2.1%. That’s followed by grocery chain Carrefour with an advance of 1.9%. The luxury group is outperforming and Hermes International and Kering both trade higher by 1.7%. As in Germany the industrial sector is underperforming, and Alstom has the largest loss in the CAC 40 as it trades 1.1% lower. Over in the U.K. the FTSE 100 is adding 0.8%. Television operator ITV is leading gains today as it rises 2.4%. Bank VTB and BT Group are each adding 2%, and the London Stock Exchange is trading 1.8% higher. At the other end of the leader board energy conglomerate Centrica has a loss of 1.5%, while mining giant Rio Tinto trades 1.1% lower. Gold is edging lower by 0.3% in light trade as U.S. exchanges are closed today.
Asian Daily Market Review
2021-09-06 02:07UTC
Asian markets are trading mixed to start the week after a disappointing U.S. jobs report last Friday. The U.S. dollar is recovering from the losses suffered in the wake of that jobs report. Japan’s Nikkei is leading the way higher with a gain of 1.7% however, as the Yen has gapped lower versus the U.S. dollar at the open and continues to weaken. A weaker Yen is good for Japan’s exporters. Shares of Softbank are trading up by 1.7% to mirror the broader index, while Sony shares are trading 0.8% higher. Among the major exporters shares of Toyota have added 1.5%, Panasonic is advancing 2%, while Canon is edging higher by 0.1%. Down in Australia the S&P/ASX 200 has dropped 0.7%, but is off its worst levels of the day as Sydney heads into the final hours of trading. The big four banks are performing slightly better than the broader index, with ANZ losing 0.4%, NAB down 0.3%, Commonwealth Bank dropping 0.8%, and Westpac losing 0.9%. Meanwhile the major miners are mixed as BHP sheds 0.2%, but Rio Tinto trades 0.3% higher. In mainland China markets have opened to good gains, with the benchmark Shanghai Composite rising 0.5%, while the smaller cap Shenzhen Composite advances 0.9%. Over in Hong Kong the Hang Seng is pacing the gains on the mainland as it adds 0.6%. South Korea’s Kospi is flat in early morning trade, while Taiwan’s Taiex is gaining 0.2%. Southeast Asian markets are modestly higher, with Singapore’s Straits Times adding 0.3%, Malaysia’s KLCI edging up by less than 0.1%, and the Jakarta Composite in Indonesia flat at the open.
Gold And Silver Rally Following Non-Farm Payrolls
2021-09-04 13:50UTC
Friday’s U.S. non-farm payrolls came in far weaker than expected, with the Labor Department reporting just 235,000 new jobs added to the U.S. economy in August, versus expectations for 750,000 jobs. It was the slowest pace of growth in the labor market since January, and markets responded by selling the U.S. dollar, while silver and gold advanced. By the close silver had managed to get above the resistance at the $24.50 level to close at $24.68 an ounce. Meanwhile gold also advanced, finishing the session at $1,826.57. Gold still has a major resistance hurdle at the $1,830 level, so it’s uncertain if the rally will continue when markets reopen on Monday, particularly since U.S. and Canadian markets will be closed for a public holiday. Silver’s close was just below the 50-day exponential moving average at the $24.70 level, and if it can top this level the next major resistance sits at the $25.00 level. Beyond that resistance levels sit at the $25.30 and $25.60 levels. As for gold, the major resistance at the $1,830 level is based on a double top created back in July, and could be quite difficult to surmount. If gold can get through that resistance there’s nothing technical to stop it until it reaches the $1,870 level. On the support side the $24.50 level has now switched to support for silver. A drop below this support will likely see silver trade down to $24.00 an ounce. For gold the $1,805 level is support based on the bottom of the trading range over the past week. The movement in the U.S. dollar is going to be key for gold.
The USD Into A Higher Side
2021-09-03 16:53UTC
The USD partly declined today versus the mains pairs after lower than predicted U.S. payrolls report came out. This could result in a delay for the Fed to hold for now its massive stimulus measures.Presently, the USD versus the Euro trades at 0.841 EUR, which is a retreat of 0.0007 EUR or 0.08% from the previous close of 0.8418.The daily trading range is from 0.8400 to 0.8425.Moreover, Nonfarm payrolls soared by 235,000 in August.This came short of the estimate of 728,000 estimate.The USD index retreated to a bottom of 91.940, its weakest value since the beginning of August.Fed chair Jerome Powell reported last Friday that while tapering of its stimulus could begin this year in case job creation further extends.Higher number of COVID-19 cases in recent weeks have resulted in issues about the economic recovery.The euro currency rallied. In fact, the common currency has been stimulated by data earlier this week that showed regional inflation at a decade high.
U.S. Daily Market Review
2021-09-03 16:07UTC
Stocks are into a falling side today after the August jobs report came in short of initial estimates.The Dow Jones Industrial Average retreated 100 points, or 0.3%. The S&P-500 partly fell, while the tech-heavy Nasdaq Composite advanced about 0.1%. U.S. government bond yields surged Friday after Labor Department data indicated in U.S. employers pulled back on hiring from last month. President Biden today blamed rising COVID-19 cases nationwide for the lackluster August jobs report. U.S. services industry activity jumped at a moderate pattern last month.The Institute for Supply Management announced today that its non-manufacturing activity index sunk to 61.7 last month after rallying to 64.1 in July.
European Daily Market Review
2021-09-03 07:24UTC
European markets lost just slightly some side this morning as the markets are focused on the key economic indicators out of the euro zone and the U.S.The German DAX fell 0.18%, the French CAC-40 lost 0.43% and the British FTSE-100 declined 0.03%.The pan-European Stoxx-600 dropped 0.2% in early trade, with banks tumbling 0.4% to lead the declining mode.Euro zone business activity is still into solid marks last month, despite concerns over the spread of the Delta variant of the coronavirus.IHS Markit’s final composite Purchasing Managers’ Index (PMI), sunk to 59.0 last month from July’s 15-year high of 60.2.The GBP moved just below a three-week high on Friday morning as markets braced for a jobs report in the United States.The GBP trades around the $1.38 level.The highly efficiency of U.K.’s COVID-19 vaccination programme had added to the sterling becoming the best performer among G10 currencies this year.
Gold Prices Adanvced
2021-09-03 06:32UTC
Gold prices rallied this morning during the Asian hours, marking some small gains as the USD depreciated.Now, the yellow metal trades at $1812.92, which is a surge of $3.72 or 0.21% from the previous close of 1809.20.The daily trading range is from $1808.02 to 1814.71, while the trading volume is 41.201K.The markets are focused on latest U.S. jobs report to give an idea about the Federal Reserve’s timeline on asset purchases and interest rate rises.The jobs report, including non-farm payrolls, are coming later today. In reality, the recovery of the labor market is one of the Fed’s requirements before it launches asset tapering and interest rate hikes.In the meantime, SPDR Gold Trust (P:GLD) announced that its holdings slipped 0.2% to 998.52 tons on Thursday, its bottom since April 2020. Russia also stated that its international gold and foreign currency reserves jumped to a record $615.6 billion after getting a tranche from the International Monetary Fund.
Asian Daily Market Review
2021-09-03 02:46UTC
Asian markets are trading higher following overnight gains on Wall Street and as investors await a private survey on the state of the Chinese services sector. Also in investor’s minds today is the upcoming U.S. non-farm payrolls report, which could sway the Federal Reserve’s decision on when to begin tapering bond purchases. Japan’s Nikkei is trading 0.4% higher, even though the Yen is continuing to firm against the U.S. dollar for a second consecutive session. Shares of Softbank are nearly unchanged with a slight loss of less than 0.1%, while shares of Sony are advancing 0.3%. Among the major exporters Toyota is trading 0.2%, Panasonic is adding 0.3%, but Canon is losing 0.5%. In Australia the S&P/ASX 200 trading 0.3% higher, with the big four banks trading mixed. ANZ shares are 0.5% lower, which is being offset by a 0.5% gain from NAB. Meanwhile Commonwealth Bank is trading 0.3% higher, but Westpac is edging lower by 0.1%. The major miners are helping to support the broader index however, with BHP rising 1.4% and Rio Tinto adding 2.4%. Mainland Chinese markets have opened mixed, with the benchmark Shanghai Composite adding 0.1%, while the smaller cap Shenzhen Composite is trading 0.3% lower. Over in Hong Kong the Hang Seng is underperforming as it falls 0.5%. South Korea’s Kospi trades 0.5% higher, and in Taiwan the Taiex also has a gain of 0.5%. Southeast Asian markets are mixed however, with the KLCI in Malaysia adding 0.1%, while the Straits Times in Singapore is inching lower by less than 0.1%, and the Jakarta Composite in Indonesia drops 0.2%.
Non-Farm Payrolls Are More Important Than Ever
2021-09-02 22:44UTC
The U.S. releases its closely watched non-farm payrolls report tomorrow, and according to analysts at Dow Jones the results will be a solid 720,000 new jobs created for the U.S. economy in August. That’s below the 943,000 jobs reported in July, but it is still far greater than the jobs counts before the pandemic. This month’s report could be even more important than usual as it has the potential to influence the timing of the Federal Reserve’s tapering on bond purchases. A strong result will reinforce the belief among Fed members that the economy has recovered enough to withstand the withdrawal of stimulus, while a weak result could see the Fed hold off on tapering until 2022. The impact of either decision could be significant for equities, for the U.S. dollar, and for commodities like gold and oil. A stronger than expected reading will have market participants betting on the Fed tapering sooner rather than later. That’s likely to strengthen the U.S. dollar and send Treasury yields higher, but will also cause gold and oil to retreat in response to the stronger U.S. dollar. It could also cause equities, which have put in seven consecutive months of gains, to drop off record levels as investors react to the drop in stimulus. However if the jobs report is weaker than expected it could cause the Fed to hold off on tapering. That would be negative for the U.S. dollar and Treasuries. Oil isn’t likely to see a large impact, but gold could rally if the weakness in the U.S. dollar is pronounced. And equities could rally as investors cheer continued stimulus.
U.S. Daily Market Review
2021-09-02 12:59UTC
U.S. stock futures gained some side today after weekly jobless claims came better than estimated.The Dow Jones Industrial Average futures added 80 points. The S&P-500 futures soared 0.2% and Nasdaq-100 futures advanced 0.3%.Russell 2000 index secured 0.6% on Wednesday following a 2.1% gain in August. The number of officially unemployed Americans dropped last week, while layoffs sunk to their lowest level in more than 24 years in August.Initial claims for state unemployment benefits tumbled by 14,000 to a seasonally adjusted 340,000 for the week ended Aug. 28, as reported by the Labor Department.The Labor Department declared today that 340,000 Americans filed for first-time jobless benefits in the last week of August, which is a loss of 14,000 from the prior week.
European Daily Market Review
2021-09-02 08:11UTC
European stocks are still without a clear direction as the markets are focused on the next reading of U.S. nonfarm payrolls, coming out on Friday.The pan-European Stoxx-600 moves around the flatline in early trade. The German DAX added 0.21%, the French CAC-40 gained 0.18% and the British FTSE-100 inclined 0.08%.The Swedish Orphan Biovitrum rose 24.2% after U.S. venture capital firm Advent International and Aurora Investment offered to buy the drugmaker in a deal of 69.4 billion Swedish crowns ($8 billion).Miner BHP Group dropped 5% on ex-dividend trading, weighing on the UK’s blue-chip FTSE 100.BNP Paribas is negotiating with Agricultural Bank of China (AgBank) to form a wealth management venture.
Crude Oil Prices Fell
2021-09-02 06:14UTC
Oil prices retreated today after OPEC+ decided to preserve its policy of gradually returning output levels at a time when coronavirus cases around the world are rapidly rising.In addition, many U.S. refiners are still shut down.Now, oil trades at $68.461, which is a rise of $0.253 or 0.37% from the previous close of 68.208.The daily trading range is from $67.830 to 68.490, while the trading volume is 10.534K.The Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia, together known as OPEC+, decided to extend a policy of phasing out record production reductions by adding 400,000 barrels per day (bpd) each month to the market.On the other side, OPEC+ boosted its demand forecast for 2022 while also there are call to grow production increases from the White House.The U.S., oil refineries in Louisiana could need several weeks to restart after the caused damages from Hurricane Ida.U.S. crude inventories fell by 7.2 million barrels despite the surge of the new coronavirus infections cases across America.
Asian Daily Market Review
2021-09-02 02:16UTC
Asian markets are mostly higher on Thursday morning, despite a flat session overnight on Wall Street. With the U.S. labor report incoming later in the week it’s surprising to see such strength ahead of what could be a surprise to investors. In Japan the Nikkei is trading flat, with a loss of less than 0.1% as a stronger Yen is weighing on shares today. Softbank Group is edging higher by less than 0.1%, while Sony has a gain of 0.7% on the day so far. Among the major exporters Toyota is falling 0.5%, Panasonic is underperforming with a loss of 1.7%, and Canon is trading lower by 1.1%. Australia’s S&P/ASX 200 is also trading lower today, falling 1% to lead losses across the Asian region. Shares of the big four banks are lower, but performing better than the broader market. ANZ has a 0.3% loss, NAB is falling 0.5%, Commonwealth Bank is edging lower by 0.2%, and Westpac is dropping 0.5%. The major miners are performing far worse, with BHP losing 1.2%, and Rio Tinto dropping 1.7%. Mainland Chinese markets have opened the day with gains as the benchmark Shanghai Composite trades 0.4% higher and the smaller cap Shenzhen Composite is inching up by just 0.1%. Meanwhile over in Hong Kong the Hang Seng is leading gains for the region as it’s rising 1%. South Korea’s Kospi trades 0.7% lower, while the Taiex in Taiwan is edging lower by less than 0.1%. Southeast Asian markets are mixed and little changed, with the Straits Times in Singapore less than 0.1% lower, while the Jakarta Composite in Indonesia is less than 0.1% higher.
September Could Be A Danger To Equity Markets
2021-09-02 02:03UTC
U.S. markets were little changed to kick off September, with the benchmark S&P 500 edging slightly lower by less than 0.1%. September is historically the worst month of the year for markets, which is a concern to some analysts and traders given the current fundamental picture. Also of concern is the fact that markets have now strung together seven consecutive months of gains, which makes a pullback more likely at this time. The rise in COVID cases has been negatively impacting on economic conditions as well, and while markets haven’t reacted to this yet, investor sentiment could begin to weaken if conditions continue to deteriorate. This Friday’s non-farm payrolls could be the first test of that theory. Economists are expecting new jobs in the U.S. to increase by 750,000 for August. While that would have been a stellar month before the COVID pandemic, it pales in comparison with the 943,000 jobs reported in July. Even worse, some analysts have suggested that the rise in COVID cases could mean that the jobs report comes in even weaker than this. That would be a dual edged sword for equity markets. On the one hand, weakness from the labor market could be a signal that the economic recovery is stalling, which could send shares tumbling. On the other hand a weak jobs report could also spark speculation that the Fed will delay tapering, leading to a rally for stocks. Risk appetite remains high in markets currently, with small cap and technology names outperforming the broader market. That could also spell disaster for the market in the event of risk appetite being dulled.
U.S. Daily Market Review
2021-09-01 14:12UTC
U.S. stocks rallied partly led by technology shares after the S&P 500 jumped to a seven-month peak.The Dow Jones Industrial Average added 26.82 points, or 0.08%, at the open to 35,387.55. The S&P-500 secured 6.12 points, or 0.14%, at 4,528.798, while the Nasdaq Composite gained 49.72 points, or 0.33%, to 15,308.98 at the start of the session.Zoom Video shares recovered close to 3% 2.8% a 16% loss Tuesday after Cathie Wood revealed she bought nearly 200,000 shares on the dip.U.S. manufacturing activity entered into solid recovery in August amid strong order growth.Moreover, the Institute for Supply Management (ISM) announced that its index of national factory activity soared to 59.9 in August from a reading of 59.5 in July.
The Euro Is Into A Solid Rising Path
2021-09-01 09:53UTC
The euro currency entered into a higher path channel just below a near one-month peak today.Presently, the Euro versus the USD trades $1.1815, which is another rise of $0.00076 or 0.06% from the previous close of 1.18081.The daily trading range is from $1.1793 to 1.1818, while the trading volume is 60.829K.Data from yesterday indicated in that the euro zone inflation jumped by 3% year-on-year in August.This is the peak mark of the last decade, coming above the European Central Bank's 2% target and a 2.7%.Still however, the common currency failed to register a large progress above the $1.18 level. Meanwhile, the USD Index registered some marginally higher values versus its main pairs.The USD index, which measures the greenback against six rivals, rallied to to 92.775 from yesterday.
European Daily Market Review
2021-09-01 09:39UTC
European stocks gained some ground this morning after euro zone inflation data on Tuesday gave in some positive signals to the markets.The German DAX added 0.47%, the French CAC-40 inclined 1.12% and the British FTSE-100 advanced 0.85%.The pan-European Stoxx-600 surged around 0.8% in early trade, with retail stocks climbing 1.5% to lead the rising path.The Caixin/Markit manufacturing Purchasing Managers’ Index for August marked 49.2 on Wednesday, below the 50 mark.Swedish airline company SAS reported 1.36 billion Swedish krone ($160 million) net loss for the third quarter as travel restrictions are still hurting air travel. Pernod Ricard came above full-year 2020/21 operating profit expectations and stated the restart of a 500 million euro ($590 million) share buyback program. Ukrainian President Volodymyr Zelensky will meet with President Joe Biden in Washington today.This well waited meeting, which could have high-stakes implications for Zelensky, who has vied for American support since he was elected back in 2019.
Gold Prices Slipped
2021-09-01 06:38UTC
Gold prices retreated this morning during the Asian hours. The markets are still into a cautious mode for the latest U.S. jobs report, which could provide signals whether the Fed could launch its asset tapering and interest rate increases.Now, gold trades at $1815.77, which is a small recovery of $3.74 or 0.21% from the previous close of 1812.03.The daily trading range is from $1810.15 to 1816.88, while the trading volume is 66.389K.Moreover, the U.S. Conference Board (CB) consumer confidence index marked 113.8, a half a year bottom.In addition, the European Central Bank (ECB) is also considering whether to begin asset tapering, with Tuesday’s Eurozone consumer price index (CPI) grew a higher-than-expected 3%.In Asia Pacific, China’s Caixin manufacturing purchasing managers index (PMI), announced today, came to lower levels than the estimates of 49.2 and less than the 50-mark indicating growth.
Asian Daily Market Review
2021-09-01 02:12UTC
Asian markets are trading mixed as investors await the release of the Caixin/Markit manufacturing Purchasing Managers Index. This private measure of manufacturing comes out just one day after the official Chinese manufacturing data came in weaker than expected yesterday. Also awaiting release is Australia’s second quarter preliminary GDP data. In Japan the Nikkei is 0.8% higher as the Yen continues slipping lower versus the U.S. dollar. Shares of Softbank are modestly higher by 0.2%, while Sony shares are trading up by 0.4%. Among the major exporters Toyota is adding 0.6%, Panasonic has a gain of 0.7%, and Canon is rising 1%. Australia’s S&P/ASX 200 is 0.8% lower as investors have turned cautious ahead of the GDP data. The big four banks are mostly lower, with ANZ falling 1.2%, Commonwealth Bank losing 0.6%, Westpac dropping 0.5%, and NAB edging higher by 0.1%. The major miners are also weighing on results as BHP is down 0.9% and Rio Tinto is losing 1.7%. In mainland China the benchmark Shanghai Composite has opened with a modest 0.2% loss, but the smaller cap Shenzhen Composite is down 1% as investors worry about the potential regulation of video game time for those under 18. In Hong Kong the Hang Seng is trading 0.5% lower as the potential video game regulation also hits shares listed there. South Korea’s Kospi is edging lower by 0.1%, and the Taiex in Taiwan is matching that with its own 0.1% loss. In Southeast Asia Singapore’s Straits Times Index is 0.3% higher, Malaysia’s KLCI is 0.3% lower, and the Jakarta Composite in Indonesia is gaining 0.2%.
Robinhood's Revenue Model Potentially At Risk
2021-08-31 23:42UTC
Shares of online broker Robinhood plunged 6.9% on Monday, but recovered 1.6% on Tuesday as investors took the drop as an opportunity to get into the stock at a lower level. Whether or not that turns out to be a smart move will take time to see. The initial drop on Monday came after the SEC chairman told Barron’s that there is a possibility for the SEC to ban payments for order flow, which is Robinhood’s primary source of revenue. Part of the reason investors were willing to step in and buy Robinhood despite the potentially disastrous news is that Robinhood responded to the possibility by saying that they could adapt if payment for order flow was removed as a source of revenue. Shares did continue falling Tuesday morning, reaching as low as $41.51 a share before rebounding to close the session at $44.32 a share. While the SEC could institute a complete ban on the practice of payment for order flow, it’s more likely they would take a more measured approach initially. SEC chairman Gary Gensler refused to comment further on the potential change. Another potential negative for Robinhood comes in the form of competition. On Monday it was reported that the leading digital payments platform Paypal is investigating adding stock trading for its customers. Paypal has already added cryptocurrency trading over a year ago. Robinhood’s IPO was just over a month ago, but the stock has had a wild ride as it first doubled in price, only to later see half its value wiped out in short order. Shares gained 24% in August.
The USD Dropped To A Bottom Mark
2021-08-31 14:22UTC
The USD sunk around three-week bottoms versus a basket of currencies on Tuesday.Presently, the USD versus the Euro trades at 0.845 EUR, which is a further loss of $0.0021 or 0.25% from the previous close of 0.8474.The daily trading range is from 0.8442 to 0.8476.Moreover, the USD has been into a falling side since Federal Reserve Chair Jerome Powell's comments at the Jackson Hole conference on Friday.U.S. payrolls reports are coming out on Friday this week.In addition, the USD index retreated to a quarter of a percent to 92.456, its lowest level since Aug. 6.Furthermore, the GBP surged to a two-week peak of $1.38010, before losing ground to $1.38.
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