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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.
U.S. Daily Market Review
2021-08-31 14:09UTC
Stocks retreated from a record levels.The S&P-500 looks to wrap up its seventh straight month of advances.The Dow Jones Industrial Average dropped 83 points, or 0.2%. The Nasdaq Composite declined 0.2%.The USD depreciated versus most of its Group-of-10 peers.U.S. single-family home prices in 20 key urban markets soared more in June versus last year. Shares of Zoom fell more than 11% in premarket trading after the company signaled a faster-than-expected drop in demand.Zoom predicted the current-quarter revenue between $1.015 billion and $1.020 billion on Monday, indicating a rise of about 31%.Microsoft Corp, Google-owner Alphabet Inc , Apple and Amazon tumbled between 0.2% and 0.5% in premarket trading.
European Daily Market Review
2021-08-31 08:09UTC
European leading stocks opened slightly higher today with investors digesting the latest economic data from the E.U.The German DAX added 0.51%, the French CAC-40 inclined 0.05% and the British FTSE-100 slipped 0.16%.The pan-European Stoxx 600 gained 0.1% higher, with most sectors in positive territory apart from banks, insurance, utilities, travel and leisure and oil and gas. Danish medical company Ambu, its shares soared over 7%. On the other side, Danske Bank dropped almost 4.0%.Shares of airlines Easyjet and Wizz Air tumbled 3.4% and 2.8%, accordingly.Germany’s centre-left Social Democrats (SPD) further added to their lead over Chancellor Angela Merkel’s conservative party, according to a latest poll reported yesterday.Dutch technology investor Prosus NV soared 2% after declaring that it had decided to buy Indian payments platform BillDesk for $4.7 billion.
Crude Oil Prices Fell
2021-08-31 06:31UTC
Oil prices retreated this morning amid issues over that power outages and flooding in Louisiana after Hurricane Ida will seriously hurt crude demand from refineries.Now, oil trades at $69.119, which is a very minor incline of $0.010 or 0.01% from the previous close of 69.109.The daily trading range is from $68.704 to 69.268, while the trading volume is 8.262K.The prices entered into a negative mode amid weaker manufacturing data coming from China.U.S. West Texas Intermediate (WTI) crude futures were down 5 cents, or 0.07%, to $69.16 a barrel at 0555 GMT.The loss of power could last for several weeks, according to official statements.Furthermore, more than 1.72 million bpd of oil production and 2.01 million cubic feet per day of natural gas output remained offline in the U.S. side of the Gulf of Mexico.Furthermore, the Organization of the Petroleum Exporting Countries (OPEC) and allies are likely to agree to carry out the plan to add another 400,000 bpd of supply each month through December.
Asian Daily Market Review
2021-08-31 02:13UTC
Markets are trading broadly lower across Asia Tuesday morning after data shows that Chinese factory activity grew at a slower pace in August versus July. In Japan the Nikkei is easing lower by 0.1%, with a slightly stronger Yen exerting a bit of downward pressure. Shares of Softbank are 1% lower, while Sony is falling 0.4%. Among the major exporters shares of Toyota are lower by 0.6%, Panasonic is adding 0.2%, and Canon has a 0.4% advance. Australia’s S&P/ASX 200 is bucking the falling trend across the region with a gain of 0.2% heading into the final hours of trading in Sydney. Shares of the big four banks are weighing on the index however, with ANZ trading 0.5% lower, Commonwealth Bank losing 0.3%, and Westpac also dropping 0.3%. Shares of NAB are slightly higher by less than 0.1%. Meanwhile the major miners are also falling, with BHP losing 0.6% and Rio Tinto down by 0.3%. Mainland Chinese markets are trading modestly lower too, with the benchmark Shanghai Composite falling slightly by 0.1%, while the smaller cap Shenzhen Composite is 0.4% lower. Over in Hong Kong the Hang Seng is falling 0.7% in response to potential regulations in China that will limit the number of hours those under 18 can play video games to just 3. Shares of Tencent are down 2.5% in response, while Netease shares are falling 3.6%. In South Korea the Kospi has a 0.3% loss, while Taiwan’s Taiex has fallen 0.8% in early trade. Southeast Asian markets are mixed with Singapore’s Straits Times dropping 1.3%, the Jakarta Composite in Indonesia 0.1% lower, but the KLCI in Malaysia adding 0.7%.
Paypal Shares Pop On Stock Trading Speculation
2021-08-30 20:36UTC
Shares of Paypal popped 3.6% higher yesterday as rumors emerged that the digital payments giant is planning on adding stock trading to its platform. With the rise in retail trading that’s exploded revenues for brokers in the past year and a half it comes as no surprise that Paypal might be considering such a move. The rumors emerged after it became known that Paypal has hired former Ally Invest president Rich Hagen as the CEO of a previously unknown division. Hagen was the founder of TradeKing, which was acquired by Ally Invest. The Paypal division is called Invest at Paypal, and the company has not previously reported its existence. Paypal has already rolled out the ability to trade cryptocurrencies in the past year on its platform, but the addition of stock trading could be extremely lucrative for the San Jose, California based digital payments platform. The revelation of Invest at Paypal came from Hagen’s LinkedIn profile, which shows him as CEO of Invest in Paypal and describes his job function as “exploring opportunities” in the retail investing space. During the last quarterly earnings call Paypal’s CEO Dan Schulman said that Paypal’s long term vision included more financial services, which includes “investment capabilities”. Data shows that over the first half of 2021 more than 10 million new investors entered the market. That’s nearly as many as entered the market in all of 2020, which was a record breaking year itself. Interest in the stock markets is booming, thanks to the stay at home pandemic orders, government stimulus, and the popularity of viral trading in meme stocks like Gamestop and AMC Theaters.
U.S. Daily Market Review
2021-08-30 09:57UTC
The S&P-500 marked a further peak mark today as the market continued to gain ground.The broad market index added 0.5% to set a new intraday record high. The Nasdaq Composite secured 0.8% for its own all-time high. The Dow Jones Industrial Average is still a clear market direction.The National Association of Realtors (NAR) announced that its Pending Home Sales Index, based on contracts signed last month, dropped 1.8%.PayPal is could enter into a stock-trading platform.Meanwhile, the share prices of Paypal, broke that trend and rallied more than 3%.The USD stabilized after reaching two-week bottom today, as the dollar tried to recover from Friday's retreat on comments from U.S. Federal Reserve Chair Jerome Powell.Moderna fell more than 2.1% after Japan temporarily suspended another one million doses of the COVID-19 vaccine.
European Daily Market Review
2021-08-30 07:47UTC
European stocks partly inclined this morning, indicating in broadly positive trade across the market.The German DAX added 0.08%, the French CAC-40 gained 0.09% and the British FTSE-100 soared 0.32%.The pan-European Stoxx-600 added 0.1% higher with most sectors rising apart from banks, healthcare, insurance, telecoms and travel and leisure.Euro zone bond yields are around one-month peak just ahead of the release of German inflation data.Bond yields partly shifted on both sides of the Atlantic in the aftermath of U.S. Federal Reserve Chairman Jerome Powell’s speech on Friday.The German inflation data due at 1200 GMT, ahead of a euro area reading tomorrow.
Gold Prices Are Up
2021-08-30 07:04UTC
Gold prices advanced this morning during the Asian hours, adding to ride a rebound resulted from the comments Friday by U.S. Federal Reserve Chairman Jerome Powell.After his remarks the Treasury yields and and the USD entered into a losing mode.Now, gold trades at $1814.47, which is very minor loss of $2.39 or 0.13% from the previous close of 1816.86.The daily trading range is from $1812.62 to 1823.06, while the trading volume is 88.956K.Powell indicated in that the Fed could start tapering off from the large levels of support for the economy by the end of 2021.Powell also stated that the labor data had improved.Gold traders are focused on the possibility that the Fed is not planning to raise rates quickly.Gold prices managed to partly recover from losses Friday following Powell’s comments.
Asian Daily Market Review
2021-08-30 02:29UTC
Asian markets are moving broadly higher to start the week, with investor sentiment rising after the head of the U.S. central bank struck a more dovish tone that expected at last Friday’s Jackson Hole Symposium. Japan’s Nikkei is up a modest 0.2%, despite the Yen gaining on the U.S. dollar since last Friday’s news. Shares of Softbank Group are trading 0.5% lower, and Sony has a loss of 0.2%. Among the major exporters Toyota is adding 0.5% and Panasonic is 1.2% higher, while shares of Canon trade up by 0.8%. In Australia the S&P/ASX 200 is slightly higher by 0.1%, with weakness from the big four banks weighing on the broader market. Shares of ANZ are down 1.1%, NAB has a 0.5% loss, Commonwealth Bank shares are falling 1.2%, and Westpac trades 0.9% lower. However the major miners are giving support to the market, with BHP adding 3% and Rio Tinto advancing 3.1%. Mainland Chinese markets have also opened to gains, with the benchmark Shanghai Composite rising 0.3%, while the smaller cap Shenzhen Composite is advancing 0.5%. However Hong Kong’s Hang Seng is taking its own direction and trades 0.4% lower to lead losses around the region. South Korea’s Kospi is edging higher by 0.1%, and in Taiwan the Taiex has a gain of 0.5%. Increased risk appetite is benefitting the emerging markets and Southeast Asian markets are broadly higher as a result, with Indonesia’s Jakarta Composite leading gains around the region as it rises 0.7%, while the Straits Times in Singapore has a 0.6% gain, and Malaysia’s KLCI is trading 0.5% higher.
Gold Rallies On Fed Chairman Dovishness
2021-08-27 18:54UTC
Gold initially pulled back ahead of the Jackson Hole Symposium, but recovered rapidly as Federal Reserve chairman Jerome Powell struck a dovish tone that sent the U.S. dollar lower across the board, providing the support needed for gold to make a strong move above the $1,800 level. During a virtual speech at the symposium Powell acknowledged that both the labor and inflation data indicates that the Fed targets are near being met, but that more time would be needed to tell if this will be sustained. The Fed chair also expressed concerns over the number of COVID cases in the U.S. and its potential impact on the economy. While he also said that tapering will likely begin in 2021, he was more cautious when discussing interest rates, indicating that the Fed is not anywhere close to raising rates. Taken all together markets saw the speech as dovish, mostly because it didn’t provide any news not already known. Market participants had been hoping for some new information, but were disappointed when it didn’t emerge. The move in gold took it as high as $1,818.68 on an intraday basis, and it remained just slightly below that high at the close. While the $1,818 level is a minor resistance level, the real test for gold will be at the $1,830 level, where the precious metal printed a double top back in July. A breakout move above that level would leave a clear path to $1,900. However, some analysts said that while the chairman’s speech was dovish, it wasn’t dovish enough to kick off a strong rally in gold.
U.S. Daily Market Review
2021-08-27 10:36UTC
U.S. stock index futures partly soared today just ahead of Federal Reserve Chair Jerome Powell’s speech that could provide clear market direction.The Dow Jones Industrial Average secured 86 points, or 0.2%. The S&P-500 futures inclined 0.3% and Nasdaq 100 futures gained 0.3%.The Fed meeting will be online this year, with Chair Jerome Powell’s speech taking center stage Friday morning at 10:00 a.m. ET. Oil giants of Exxon Mobil, Chevron Corp and Schlumberger NV rallied between 0.6% and 1.4%.The stock price of Gap advanced 8% per share in premarket trading after the company’s quarterly earnings report beat on top and bottom lines.The technology leaders of Apple Inc, Facebook Inc, Amazon.com, Google-owner Alphabet Inc, and Tesla Inc also surged in pre trading hours.
European Daily Market Review
2021-08-27 08:25UTC
European markets are still without a clear market direction just ahead of U.S. Federal Reserve Chairman Jerome Powell’s remarks at the annual Jackson Hole symposium.The German DAX added 0.07%, the French CAC-40 slipped 0.01% and the British FTSE-100 gained 0.16%.The pan-European Stoxx-600 only partly declined 0.1% in early trade, with travel and leisure stocks falling 0.8%.The markets are largely concentrated on today’s largely expected speech from Fed chairman Jerome Powell at Jackson Hole, Wyoming. French consumer confidence eased marginally in August despite an increase in coronavirus cases and new requirements of a health pass to enter many retail outlets.The INSEE official stats agency announced its monthly consumer confidence index retreated to 99 from 100 in July.
Crude Oil Prices Are Into A Massive Surge
2021-08-27 07:00UTC
Oil prices rallied this morning, are into a large rising pattern on weekly basis.This comes amid surging concerns over supply worries as many companies began shutting in production in the Gulf of Mexico ahead of a potential hurricane estimates this weekend.Now, oil trades at $68.619, which is a rise of $0.874 or 1.29% from the previous close of $67.745.The daily trading range is from $67.507 to 68.700, while the trading volume is 11.907K.Moreover, U.S. West Texas Intermediate (WTI) crude futures advanced 93 cents $68.34 per barrel.For the week, Brent is on track for a rise of almost 11% on weekly basis.This represents the largest weekly rally since June 2020. Moreover, WTI is about to register of nearly 10%, which serves as the peak since August 2020.In fact, many conglomerates started airlifting workers from Gulf of Mexico oil production platforms such as BHP as a storm is coming in the Caribbean Sea.Presently, the markets are focused on the speech by Fed Chair Jerome Powell later on Friday.
Asian Daily Market Review
2021-08-27 02:14UTC
Asian markets were off to a rocky start on Friday as investors chose to turn cautious ahead of the Jackson Hole Symposium taking place later in the day. Investors are uncertain what might come out of the meeting of global central bankers, causing markets to open broadly lower. However most of the losses didn’t hold, as investor sentiment turned more positive, and markets erased losses to turn higher. Japan’s Nikkei is trading 0.4% lower, despite a fifth consecutive session of Yen weakness versus the U.S. dollar. Shares of Softbank are trading 0.3% lower, while Sony shares are dropping 0.8%. Among the major exporters Toyota is losing 0.6%, Panasonic has a 1% advance, and Canon trades down by 1%. In Australia the S&P/ASX 200 is modestly lower by 0.2%, with the big four banks . Shares of ANZ trade 0.3% lower, while NAB is 0.3% higher. Commonwealth Bank has a slight gain of less than 0.1%, and Westpac is trading 0.1% lower. The major miners are mixed, with BHP falling 0.2% while Rio Tinto is adding 0.4%. Mainland Chinese markets have opened lower as well, with the benchmark Shanghai Composite down less than 0.1%, while the smaller cap Shenzhen Composite is losing 0.3%. Meanwhile Hong Kong is tracking the losses on the mainland, with the Hang Seng trading 0.3% lower. In South Korea the Kospi is trading 0.1% higher, while Taiwan’s Taiex has a 0.3% gain. Southeast Asian markets are trading mixed, with Singapore’s Straits Times Index dropping 0.7%, and Indonesia’s Jakarta Composite 0.3% lower, while the KLCI in Malaysia is advancing 0.4%.
Peloton Shares Fall Sharply On Earnings Disappointment
2021-08-26 21:41UTC
Shares of Peloton were down nearly 7% in after-hours trade following a drop of 1.9% after the exercise equipment maker posted worse than expected quarterly sales and earnings, and also offered up a poor forecast for the coming quarter. Peloton management warned that revenue will slip even further in the coming quarter as they are cutting the price of their original exercise bikes by 20%. It is also shifting its business back to focus more on treadmills, which are less profitable than the cycles. The company cited increased commodity costs and freight prices as part of the reason for weak expectations in the coming quarter. It also plans on increasing its marketing spend in the coming quarter, in the hopes it can generate increased sales volumes. Revenue came in at $936.9 million versus $927.2 million expected, while earnings were a steep loss of $1.05 a share versus $0.45 expected. That compared with net income of $0.27 a share in the same quarter last year. The drop in revenue growth was also due to the recall of Peloton’s Tread and Tread+ treadmill products back in May. Part of the recall also involved the temporary halt in sales of the two types of treadmills. The Tread model is expected to go back on sale next week, but there’s been no indication for when the Trend+ might go back on sale. At the same time the company is facing much steeper competition in the home fitness space, with the likes of Hydrow, Tonal, and Mirror eating into its sales. At the same time the lifting of COVID-19 restrictions is seeing more people head back to in-person gyms.
U.S. Daily Market Review
2021-08-26 10:37UTC
The S&P-500 came off from a record high today as most traders and investors await more details on the Federal Reserve’s future actions.The markets are also focused on the new developments in Afghanistan, which added to the risk-off sentiment.The Dow Jones Industrial Average slipped 58.96 points, or 0.17%, at 35,346.54.The S&P-500 dropped 17.12 points, or 0.38%, at 4,479.07, and the Nasdaq Composite fell 56.33 points, or 0.37%, at 14,985.53. Economic growth marked 6.6% in the second quarter, according to the Commerce Department’s data.The USD surged from one-week bottom level after a regional Federal Reserve president indicated in a faster pace of reducing the Fed’s asset purchases.The USD index gained around 0.06%  just before the statements by James Bullard, the president of the St. Louis Fed.
The Rate of The USD Advanced
2021-08-26 09:49UTC
The USD partly gained versus the euro edged during the early European trading hours this morning.However, the greenback is still around a one-week bottom amid solid levels of risk appetite just ahead of the Federal Reserve’s key Jackson Hole symposium.Now, the USD versus the Euro trades at 0.849 EUR, which is very minor decline of 0.0001 or 0.01% from the previous close of 0.8493.The daily trading range is from 0.8491 to 0.8503.Earlier today, the USD Index added 0.1% higher at 92.930, after dropping to 92.800.Risk appetite has advanced this week by the decision of the U.S. Food and Drug Administration.Moreover, a massive increase for U.S durable goods.
European Daily Market Review
2021-08-26 08:37UTC
European stock markets lost some ground in today's session.The German DAX fell 0.21%, the French CAC-40 lost 0.10% and the British FTSE-100 declined 0.31%.The pan-European Stoxx-600 tumbled around 0.3% in early trade, with travel and leisure stocks falling around 1%. European Central Bank Chief Economist Philip Lane stated yesterday that economic impact from the spread of the delta Covid-19 variant is likely to be limited across the euro zone.French media giant Vivendi soared 3% to lead the Stoxx 600.Euro zone government bonds are into a  steady path in early trading on Thursday.German and Italian 10-year yields marked their largest advance of the last six months.European travel company Tui, airlines Wizz Air, Lufthansa and British Airways-owner IAG all retreated around 1.4% and 2.5%.
Crude Oil Prices Dropped
2021-08-26 06:10UTC
Oil prices retreated this morning for the first session this week amid  higher concerns over demand recovery amid rising COVID-19 infections.Now, oil trades at $67.672, which is another loss of $0.301 or 0.44% from the previous close of 67.973.The daily trading range is from $67.640 to 68.123, while the trading volume is 11.218K.In addition, U.S. oil slipped 50 cents, or 0.7%, at $67.86 a barrel, after securing little more than 1%.The U.S. Energy Information Administration (EIA) announced that American crude inventories tumbled  last week for a third consecutive week.Mexico’s supply is back on track again after a fire on Sunday on an offshore platform killed at least five workers
Asian Daily Market Review
2021-08-26 02:24UTC
Asian markets are showing pockets of weakness Thursday morning despite the overnight records set on Wall Street. The caution is coming as traders worry over the potential regulatory changes coming in China, and await news later today from the Jackson Hole symposium of central bankers. Japan’s Nikkei is trading slightly higher by 0.1%, buoyed by continued weakness in the Yen versus the U.S. dollar. Shares of Softbank are edging lower by less than 0.1%, but Sony shares have dropped 1.8% in  early trade. Among the major exporters Toyota is also edging lower by less than 0.1%, while Panasonic shares fall 0.6%, and Canon has a slight loss f less than 0.1%. In Australia the S&P/ASX 200 is trading down 0.4% as the big four banks have a mixed performance. Shares of Commonwealth Bank are trading 0.1% higher, but Westpac shares are falling 0.6%, NAB is 0.5% lower, and ANZ has a slight 0.1% loss. Meanwhile the major miners are also putting pressure on the broader index, with BHP losing 0.7%, while Rio Tinto trades 1.3% lower. Mainland Chinese markets have opened to losses, with the benchmark Shanghai Composite losing 0.4%, while the smaller cap Shenzhen Composite drops 0.8%. Hong Kong’s Hang Seng is following the lead of the mainland for the first time this week, with a loss of 0.4%. In South Korea the Kospi has given back an early lead and trades lower by less than 0.1% after Korea’s central bank moved to raise interest rates. Taiwan’s Taiex is inching up by less than 0.1%. Southeast Asian markets are mixed, but Malaysia’s KLCI is leading gains for the region as it’s rising 1%.
Recovery In Crude Prices Continues
2021-08-25 20:16UTC
Crude oil continued in its recovery, rising for a third consecutive session Wednesday after U.S. inventory data showed a weekly drop of 3 million barrels in inventory levels. So far this week the recovery in crude has the commodity up nearly 10%, erasing the losses suffered during the seven day slide in prices caused by worries over slowing demand. At the end of the session the global benchmark Brent crude was 1.7% higher as it added $1.20 to $72.25 a barrel. The U.S. benchmark West Texas Intermediate crude advanced 1.2%, adding $0.82 to $68.36 a barrel. In addition to showing a drop of 3 million barrels in U.S. crude inventories, which puts the inventories at their lowest since January 2021, the Energy Information Administration data also showed demand in the U.S. has rebounded to its highest level since March 2020, when the government pandemic restrictions began. Adding to the bullish picture gasoline inventories also fell by 2.2 million barrels, indicating refiners are having trouble keeping up with demand as consumers have taken to the roads for a last summer hurrah. Also helping to support the gains in crude is the loss of roughly 400,000 barrels per day of Mexican crude deliveries following a fire on Monday that’s shut down one of the offshore platforms operated by Mexico’s state oil firm. While the organization said production will resume by August 30, analysts have suggested that full production could take weeks to bring back online. The recovery in crude began Monday on a weak U.S. dollar and news that new COVID cases in China, the largest oil consumer, had fallen to zero.
Crypto Daily Market Review
2021-08-25 20:02UTC
Cryptocurrencies edged higher on Wednesday, but gains were muted for the top ten cryptocurrencies. Bitcoin (BTC) set the tone with a modest gain of 1.5% on the day, but remained trapped below the resistance found at the $50,000 level. Ethereum (ETH), the second largest cryptocurrency by market cap, put in a similar performance as it added 1.1% on the day. The enthusiasm over the London hard fork seems to have passed, and now investors are waiting for the switch from proof of work to proof of stake consensus, which will allow users to collect “interest” on their ETH holdings. The best gain in the top 10 came from Binance Coin (BNB), with the native crypto for the Binance exchange rising 5.3% after rumors emerged of the exchange lloking for as much as $200 billion in government funds. Polkadot (DOT) was the next best performer as it rose 4.1% on renewed bullishness for the NFT and DeFi spaces. There was some disappointment in the space too. Cardano (ADA) fell 1.5%, though to be fair it is still up more than 30% over the past seven days. Also falling were Dogecoin (DOGE), Solana (SOL), and Ripple (XRP), with losses of 2% for DOGE and SOL, while XRP finished the day 0.9% lower. The best gain of the day came from Revain (REV), an online platform for Ethereum blockchain-based tokens reviews. The token was up 32%, but there was no news indicating why it was pumping. The worst performance of the day is from Avalanche (AVAX), as it fell 7.5%, probably on profit taking as it was the best performer in the top 100 yesterday.
U.S. Daily Market Review
2021-08-25 17:29UTC
U.S. markets are on their way to another record close as the afternoon session kicks off Wednesday on Wall Street. Shares of banks are outperforming as the U.S. ten-year Treasury yield has climbed to its highest level in August. Shares of companies tied to the U.S. reopening are also outperforming, with travel and leisure names leading the way. As the afternoon begins in New York the S&P 500 is up 0.3% and trying to close above 4,500 for the first time ever. The Nasdaq has a more modest 0.1% advance, while the Dow Industrials are trading 0.3% higher. With the return of risk appetite, the small cap Russell 2000 is leading the way with a gain of 0.8%. On a per sector basis the financials are leading today with a gain of 1.6%. Energy shares continue putting in a strong showing however, with the sector up 1%. With their own ties to the reopening, the industrials are trading 0.8% higher, while the material sector is up 0.7%. The rally is quite broad based, with only three sectors in the red, and that barely so. The health care sector is trading 0.1% lower, while the technology and consumer staples sectors are each lower by less than 0.1%. As the reopening trade takes control shares of Range Resources are at the top of today’s leader board, adding 5.2%. That’s followed by Albemarle with a gain of 4.7%. The bottom of the leader board is controlled by Nordstrom, with shares plunging 16.5% even though the company beat second quarter earnings estimates and delivered an upbeat forecast for the coming quarters.
European Daily Market Review
2021-08-25 15:10UTC
European markets are mixed and somewhat subdued as investors across the region are taking a more cautious approach to the markets ahead of the Jackson Hole summit, which will take place virtually tomorrow. The pan-European STOXX Europe 600 is basically unchanged, with a very slight loss of less than 0.1%. Germany’s DAX is giving back the gains made in the prior session as it trades 0.3% lower. At the same time France’s CAC 40 is paring losses from the prior session with a 0.2% advance. In Italy the FTSE MiB trades slightly higher by less than 0.1%, and in Spain the IBEX 35 is leading gainers as it adds 0.5%. The biggest gainer in the DAX today is Deutsche Bank, with shares trading 1.5% higher. On the other side of the fence is Delivery Hero, with shares falling 2.3% today to lead losers in the index as investors take profits following the 5.5% gain of the previous session. Among the CAC 40 companies Societe Generale is leading gains as it’s trading 2.6% higher. On the other side of the tape both utility company Engie and food services company Danone are seeing their shares fall by 1.3%. In the U.K. the FTSE 100 has a 0.3% gain, with Standard Chartered bank leading the way with a gain of 3.2%. Other stocks with gains of more than 3% include Flutter Entertainment, Ocado, and Melrose Industries. At the bottom of the index is Russian energy company Rosneft, with shares falling 1.6%. Outside the FTSE 100 shares of Wm Morrison Supermarkets are edging lower by 0.1% following news of its potential inclusion in the FTSE 100.
Asian Daily Market Review
2021-08-25 01:44UTC
Asian markets are moving higher on Wednesday morning, taking their lead from the overnight gains on Wall Street that saw the S&P 500 and Nasdaq both closing at record levels. Investor risk appetite continues to grow in the wake of the full approval of the Pfizer COVID-19 vaccine in the U.S. on Monday. Japan’s Nikkei is trading 0.3% higher, with the USD/JPY trading in a tight range just below the 110.00 level. Shares of Softbank Group are 2.6% higher and Sony is adding 1.1%. Among the major exporters Toyota is advancing 2.3%, Panasonic is trading 2.1% higher, and Canon is edging higher by 0.2%. Australia’s S&P/ASX 200 has a 0.5% gain, with shares of the big four banks pacing the gains for the broader market. Shares of ANZ and NAB are each up 0.4%, Commonwealth Bank is advancing 0.8%, and Westpac is also trading 0.4% higher. The major miners are providing even better support, with BHP rising 1.6% and Rio Tinto gaining 3.2%, while Fortescue Metals is trading 4.2% higher. In mainland China markets have opened little changed and mixed, with the benchmark Shanghai Composite reading 0.1% higher, while the smaller cap Shenzhen Composite is edging lower by less than 0.1%. Meanwhile the Hang Seng in Hong Kong is trading 0.8% higher as it extends the rally that began on Monday. South Korea’s Kospi has a slight gain of 0.2%, while the Taiex in Taiwan is trading 0.4% higher. Southeast Asian markets are advancing as well, with the KLCI in Malaysia leading gains for the region as it adds 0.7%, while Singapore’s Straits Times Index trades 0.5% higher.
Crypto Daily Market Review
2021-08-24 19:16UTC
Cryptocurrency markets took a breather on Tuesday, sliding lower after several consecutive days’ worth of gains. The drop comes just one day after Bitcoin moved above the $50,000 psychological resistance level, only to be rejected. Today Bitcoin (BTC) is trading 2.5% lower, making it one of the best performing top ten cryptocurrencies. Only Solana (SOL) is doing better, although not by much as it is down 2.3% on the day. The second largest cryptocurrency, Ethereum (ETH), is 4% lower, although it remains well above the $3,000 level. Cardano (ADA) has also slipped 4% lower, and has lost its grip on the $3 level. Binance Coin (BNB), which was yesterday’s best performing top ten coin, has dropped 5.2% today, and has been unable to remain above the $500 level. Number six coin Ripple (XRP) is also trading 5.2% lower on the day. Dogecoin (DOGE) has dropped beneath $0.30 with a loss of 6.9%, but the number nine coin Polkadot (DOT) has the largest loss of the day in the top ten as it trades 7.3% lower. Today’s best gainer in the top 100 cryptocurrencies is Avalanche (AVAX), with a 12.6% advance.  Avalanche is an umbrella platform for launching decentralized finance (DeFi) applications, financial assets, trading and other services. Its aim is to be a global assets exchange, allowing anyone to trade or even launch any form of asset in a decentralized manner using smart contracts. At the other side of the spectrum is Helium, which is trading 9% lower on the day. The Helium blockchain was created to power Internet of Things devices and to facilitate communication between them.
U.S. Daily Market Review
2021-08-24 17:27UTC
The S&P 500 is on track to set a new record close as markets head into Tuesday’s afternoon session on Wall Street. Investor confidence and risk appetite remain high following yesterday’s full approval by the U.S. Food and Drug Administration of the Pfizer-BioNTech vaccine for COVID-19. As the afternoon is getting underway the S&P 500 is trading 0.2% higher, as is the Dow Industrials. Even greater gains are coming from the technology sector, sending the Nasdaq 0.4% higher. That also has the Nasdaq on track for a new record close as it is trading above the 15,000 level for the first time ever. On a sector basis the markets are mixed, with seven of the 11 major subsectors posting gains. The best gains are coming from the energy sector for a second consecutive day, with the sector up 1.4%. The financials, consumer discretionary, and materials sectors are also all up 0.8%. On the other side of the tape the defensive sectors are showing weakness in the face of rising risk appetite. Both the consumer staples and real estate sectors are falling 0.7%, while the utilities are 0.5% lower. In the S&P 500 Best Buy has the best performance, with shares trading 9.1% higher after the company reported stronger than expected earnings, and said that the consumer is strong, upgrading their home technology as the work from home shift continues. Many travel related stocks are also rising in response to the Pfizer vaccine full approval yesterday. In the Nasdaq the best performers are Chinese companies, with investors now more clear on the regulatory landscape in China.
European Daily Market Review
2021-08-24 14:32UTC
European markets are trading mostly lower on Tuesday heading into the final hours of trade across the region, although Germany’s DAX is bucking the falling trend after data showed the country’s economy is growing faster than expected. The pan-European Stoxx Europe 600, the broadest measure of European equities, trades 0.1% lower, with weakness from the health care sector weighing. At the same time Germany’s DAX is 0.3% higher, but the CAC 40 in France is 0.3% lower. Italy’s FTSE MiB has a loss of 0.1%, and the IBEX 35 in Spain is leading losses around the region as it’s falling 0.5%. In Germany the DAX is nearly evenly mixed between winners and losers. The top performing stock is Delivery Hero, with shares trading 5.5% higher. Next up is Covestro, with a gain of 2.5%. The increased risk appetite is weighing on defensive names, and E.ON is falling 1.8%, while Deutsche Telecom has a loss of 1.1%. In France the CAC 40 is also nearly evenly mixed between winners and losers, with the top performing stocks falling into the industrial category. Arcelor Mittal shares trade 3% higher, while Alstom has a 1.5% advance. Tire manufacturer Michelin is the biggest loser in the index, falling 1.8%. Luxury brand Hermes International is matching that with its own 1.8% loss. In the U.K. the FTSE 100 is trading 0.3% lower as well, with yesterday’s biggest winner becoming today’s biggest loser. Shares of J. Sainsbury are down nearly 5% as investors take profits after yesterday’s epic rise of over 15%. The biggest winners today are travel stocks Carnival and EasyJet, with shares adding 5% and 4.5% respectively.
Asian Daily Market Review
2021-08-24 01:44UTC
Asian markets have opened higher for the second consecutive session, following strong overnight gains on Wall Street. There’s also optimism from investors in response to the U.S. Food and Drug Administration giving full approval to the Pfizer-BioNTech vaccine. Pundits believe this will usher in mandates for vaccines from a number of corporate giants. Japan’s Nikkei is trading 1% higher, with a weaker Yen helping to provide support for shares of Japanese exporters. Shares of Softbank are surging today, adding 2.9%, while Sony shares are doing even better with a 4% gain. Among the major exporters Toyota is 0.5% higher, Panasonic is advancing 1.6%, and Canon has a 0.7% gain. In Australia the S&P/ASX 200 is making a 0.3% gain, with the big four banks mixed. Shares of ANZ are edging up by less than 0.1%, while shares of NAB are inching lower by less than 0.1%. Meanwhile Commonwealth Bank is adding 0.2%, and Westpac is outperforming with a gain of 0.4%. The major miners are adding their support, with BHP 0.9% higher, and Rio Tinto up by 0.8%. In mainland China markets have opened to modest gains, with the benchmark Shanghai Composite rising 0.2% and the smaller cap Shenzhen Composite matching that with its own 0.2% advance. Over in Hong Kong the Hang Seng is trading 1.3% higher. South Korea’s Kospi is leading gains for the region as it’s rising 1.7%, and in Taiwan the Taiex has a 0.7% gain as well. Southeast Asian markets are trading higher with the Straits Times in Singapore adding 0.6%, while the KLCI in Malaysia inches up by less than 0.1%.
Crypto Daily Market Review
2021-08-23 22:37UTC
Cryptocurrency markets continued their rally on Monday, with Bitcoin (BTC) hitting a three month high as it traded above the psychologically important $50,000 level early in the session. Analysts note that this is a bullish signal, but the real resistance for Bitcoin is higher, at the $51,000 level. A move beyond that resistance could open up a quick move to $54,000 as there’s a volume gap between those two levels. The move higher was broad based, and Ethereum (ETH) also tacked on 4.5% on the day as it climbed above the $3,300 level. Traders remain bullish over the prospects for Ethereum when it switches to a Proof-of-stake consensus mechanism, possibly before the end of 2021. The best gain in the top ten came from Binance Coin (BNB) as it jumped 12.7% to land right at the $500 level. Cardano (ADA) also continued its strong gains, rising 11.2% on the day as traders remain enthusiastic for that blockchain transitioning to a smart contract enabled blockchain that could take on Ethereum. Others in the top ten had more modest gains that ranged from 1% for Dogecoin (DOGE) to 3.5% for Polkadot (DOT). Ripple (XRP) was also modestly higher by 1.8%. The best gain in the top 100 cryptocurrencies was a 19.2% climb in the value of Enjin Coin (ENJ). Enjin is a platform that allows the development of NFTs and with the resumption of bullish sentiment for NFTs Enjin Coin is also benefitting. There were only a handful of coins that posted a loss, and those were small. The largest loss came from Celcius (CEL), which is a banking protocol.
USD Drops As Risk Appetite Snuffs Haven Demand
2021-08-23 18:05UTC
Weakness in the U.S. dollar on Monday helped gold push back above the $1,800 level, while crude snapped a seven session losing streak in a rally that had the commodity up more than 5% on the day. The U.S. dollar has seen substantial strength recently on expectations for the Federal Reserve beginning to taper its bond purchases by the end of 2021. However, on Monday those fears eased in response to the Dallas Fed president expressing the possibly of keeping tapering on hold in light of the potential for the rising number of COVID cases to dent the economic recovery in the U.S. The comments, made last Friday, also snuffed out expectations for Federal Reserve chairman Jerome Powell to lay out a timeline for Fed tapering at the Jackson Hole Summit later this week. The U.S. Dollar Index, which was at a nine and a half month high at the close last Friday, fell nearly 0.5% on the day as the USD retreated against most major rivals. Expectations from market participants now lean towards U.S. tapering to begin in 2022, which is bearish for the USD. The pullback in the U.S. dollar is being seen as healthy by a number of analysts who felt that the rise in the currency had been too fast and too steep. Yet this pullback could be temporary in nature, as the U.S. dollar remains the top choice for traders and investors when it comes to a safe haven asset. The continuing COVID issues almost ensure that investors will continue to seek out safe havens, and over the past year that’s been the U.S. dollar.
U.S. Daily Market Review
2021-08-23 17:53UTC
U.S. markets got off to a strong start Monday morning, beginning a recovery from the dismal performance of the prior week. The rally followed similar moves higher overnight for Asian and European markets, but gained steam after the U.S. Food and Drug Administration announced it was giving full approval for the Pfizer-BioNTech COVID-19 vaccine. As the afternoon gets off to a start the Nasdaq Composite is leading major indices with a gain of 1.5%, while the S&P 500 is 0.9% higher and the Dow Industrials are 0.7% higher. Highlighting the increase in risk appetite on Wall Street, the small cap Russell 2000 is also trading up by 1.8%. In response to the FDA approval shares of Pfizer are 2.6% higher, while BioNTech shares are rallying 9.5% higher. Moderna is also benefitting from the positive news on the vaccine front, with its shares gaining 6.6%. Also making strong gains on the news is the energy sector, as investors speculate that the vaccine approval will help break the rise in delta COVID cases, and lead to an increase in economic growth and travel that will spur demand for oil. The jump in energy shares comes as crude snaps a seven session losing streak, thanks to weakness in the U.S. dollar, and geopolitical risks in the Middle East. Defensive sectors are underperforming however, with the utilities sector losing 1.3% and the real estate sector down 0.4%. Both the material and industrial sectors are rising 1% today, with investors optimistic that the $1 trillion infrastructure bill will soon pass, giving a huge boost to construction, construction materials, and industrial companies.
European Daily Market Review
2021-08-23 15:20UTC
European markets are rebounding modestly on Monday after finishing Friday with the largest weekly loss since February. Gains are extending the positive Asian session, although upside is being muted by continued concerns over global growth, the COVID-19 delta variant, and China’s crackdown on the technology sector. Heading into the closing hour across much of Europe the pan-European STOXX Europe 600 is trading 0.6% higher, with Germany’s DAX edging up by 0.2%, while the CAC 40 in France rallies 1% higher. In Italy the FTSE MiB is advancing 0.3%, and in Spain the IBEX 35 has a 0.4% gain. Despite the modest gain, Germany’s DAX is seeing roughly 70% of its components advancing, led by Adidas with a gain of 2.1%. Delivery Hero shares are also doing well today with a gain of 1.7%, and Volkswagen is trading 1.3% higher. On the other side of the board real estate firm Vonovia is leading losses as it’s fallen 2%. Among the CAC 40 components the luxury retailers are outperforming, as Kering leads with a 3.5% advance, followed closely by Louis Vuitton with a gain of 3.3% and Hermes International with a 3.2% jump. At the bottom of the leader board is pharmaceutical giant Sanofi with a loss of 1.3%. In the U.K. the FTSE 100 is trading 0.3% higher, as investors have put aside Brexit worries for the day. Shares of J. Sainsbury are soaring, up by 15.4% on reports of a potential private equity firm takeover. Luxury retailer Burberry is also trading 3.4% higher in the second spot. The largest loser is telecommunications firm BT Group, with shares trading 3.3% lower.
Asian Daily Market Review
2021-08-23 02:11UTC
Asian markets are climbing early Monday morning as investors take advantage of lower stock prices following last week’s selloff across the region. However there are still concerns over the spread of the delta variant of COVID-19 and the slowing of global growth it appears to be causing. In Japan the Nikkei has jumped 1.2% higher in early trade. A weaker Yen versus the U.S. dollar is helping to spur gains. Shares of Softbank are trading 1.7% lower despite the broader market gains, but Sony shares are soaring 2.7% higher. Among the major exporters Toyota is advancing 2.4%, while Panasonic is adding 1.6% and Canon has a 0.9% gain. Australia’s S&P/ASX 200 is edging up by 0.2%, although the big four banks are mixed. Commonwealth Bank is rising 0.6% and Westpac is inching up by less than 0.1%, but ANZ and NAB are each trading 0.2% lower. The major miners are also helping to support the broader market as BHP is adding 0.7% and Rio Tinto has gained 0.4%. Mainland Chinese markets have opened higher as well, with the benchmark Shanghai Composite rising 0.6%, while the smaller cap Shenzhen Composite has a 0.8% gain. Over in Hong Kong the Hang Seng is rebounding and trying to climb out of bear territory with a 1.7% advance. In South Korea the Kospi is trading 0.7% higher, while Taiwan’s Taiex is surging higher by 1.8% at the open to lead gains for the region. Southeast Asian markets are looking to move higher as well, with the Straits Times Index in Singapore and the KLCI in Malaysia adding 0.2%, while Indonesia’s Jakarta Composite is 0.5% higher.
Moderna Is Best Performing S&P 500 Stock
2021-08-20 22:50UTC
Moderna shares rose 2% on Friday, regaining some of the 5.8% lost on Thursday. It’s been quite the roller coaster week for the stock, which also notched a better than 7% gain on Tuesday. What’s causing all this volatility? It’s the U.S. discussions over the possibility of offering a third booster COVID vaccine. With all this volatility there’s been plenty of attention on Moderna, but another reason to look at the stock is Friday’s gains put it at the top of the leader board for the S&P 500 for the year. That’s right, Moderna is the best performing S&P 500 stock, rising 266.6% since the start of the year. It’s the COVID vaccine that’s driving these gains. Moderna has said it will deliver 1 billion doses of the vaccine this year, and that in 2022 it could deliver 2-3 billion doses. In addition, all these vaccine deliveries have given the company cash reserves of $12.2 billion. That’s pretty good for a pharmaceutical company that was bleeding cash less than 2 years ago. However all isn’t perfect. In fact perfection is part of the problem. Some analysts have said Moderna shares could fall as much as 70% in the coming year because the stock is priced for perfection. The contention is there are simply too many things that could go wrong, too much uncertainty and no way for Moderna to continue delivering perfect results. Case in point. On Thursday shares plunged 5.8% lower on analyst warnings, and last week shares fell 15.6% in a single session after Europe's drug regulator provided a COVID-19 vaccine-safety update. Seems Moderna is at dangerous levels.
U.S. Daily Market Review
2021-08-20 15:21UTC
The leading U.S. stocks are into recovery, while the markets are into a falling side this week stimulated by concerns over the Federal Reserve pulling back its stimulus.The Dow Jones Industrial Average secured around 220 points, or 0.6%. The S&P 500 added 0.6%. The tech-heavy Nasdaq Composite inclined 0.7%.Major U.S. stock averages rebounded Friday while markets remained on a losing track week driven by concerns of the Federal Reserve pulling back its stimulus.Nearly 61% of Americans paid no federal income taxes in 2020, a temporary spike attributed to a sudden decline in income.The USD retreated to a fresh 9-1/2-month peak today.
European Daily Market Review
2021-08-20 07:17UTC
European stocks are still a without a solid direction today amid issues over over monetary policy.The German DAX fell 0.38%, the French CAC-40 lost 0.28% and the British FTSE-100 dropped 0.14%.Germany’s finance minister reported that the economy is into a pattern for a lasting and solid recovery in the third quarter. Euro zone bond yields were are into a static mode, preserving the recent multi-month lows.British retail sales unexpectedly tumbled largely last month.Retail sales volumes retreated around 2.5% in July from June, according to the Office for National Statistics.UK supermarket Morrisons rallied 4.5% to the top of the STOXX 600 decided for takeover offer worth 7.0 billion pounds.
Crude Oil Prices Advacned
2021-08-20 06:28UTC
Oil prices rallied this morning, coming off from three-month bottoms.However, oil is still into a trend of weekly retreat of over 5% as new lockdowns in countries being affected from the jumping new cases of the Delta variant.Now, oil trades at $63.669, which is a further loss of $0.205 or 0.32% from the previous close of 63.874.The daily trading range is from 63.488 to 64.010, while the trading volume is 11.433K.Meanwhile, the USD rallied to a nine-month high on signs the U.S. Federal Reserve is about to limit the stimulus package this year.U.S. West Texas Intermediate (WTI) crude futures for September, expiring today, soared 40 cents or 0.6% to $64.09 a barrel at 0458 GMT.China has introduced new restrictions with no tolerance on the coronavirus policy, affecting shipping and global supply chains.Meanwhile Delta variant outbreaks in Australia and New Zealand have launched strict lockdowns.
Asian Daily Market Review
2021-08-20 02:20UTC
Asian markets are putting in a mixed performance early Friday morning following a choppy overnight session on Wall Street. The U.S. dollar climbed to a nine-month high overnight and commodities are showing weakness as worries over slowing economic growth and the spread of the delta variant of COVID continue to impact global markets. In Japan the Nikkei is trading 0.7% lower, despite the Yen remaining weaker versus the U.S. dollar. Shares of Softbank Group are continuing to slide, trading 1.9% lower, but Sony is rising 1.1% today. Among the major exporters Toyota is falling 1.7%, Panasonic is down 0.8%, and Canon has a 0.4% loss. Australia’s S&P/ASX 200 is rising 0.2%, with the big four banks providing support. Shares of ANZ are up 0.5%, NAB is edging higher by 0.1%, Commonwealth Bank has added 1%, and Westpac has a modest 0.2% gain. The major miners have stabilized after yesterday’s slide and BHP is just 0.2% lower, while rio Tinto shares are rising 0.7%. Mainland Chinese markets have opened lower, but are off their worst levels of the day. The benchmark Shanghai Composite trades 0.5% lower, while the smaller cap Shenzhen Composite is matching that with its own 0.5% drop. Over in Hong Kong the Hang Seng is leading losses for the region as it’s trading 0.8% lower. South Korea’s Kospi is inching lower by 0.1% today, and in Taiwan the Taiex has dropped 0.4%. Southeast Asian markets are mostly higher, with the Straits Times in Singapore adding 0.5%, the KLCI in Malaysia advancing 0.2%, while Indonesia’s Jakarta Composite is edging lower by 0.1%.
Silver Sees No Benefit From Safe Haven Demand
2021-08-19 18:58UTC
Even though investors have been favoring haven assets due to the rise in COVID cases, which has been supporting gold, its sister metal silver hasn’t seen the same enthusiasm in recent sessions. Yesterday was the third consecutive losing session for silver, with prices moving lower for another test of the $23 support level. Silver is seeing this slump primarily due to the belief that the global economy is far from recovering to pre-pandemic levels. Silver is not only a haven, but also has a number of industrial uses, and that is weighing on prices as investors see industrial demand for silver remaining weak in the coming months. Silver has been sliding lower since June, with a clearly defined downward sloping channel, and several clear bearish rising flags defining the channel. In addition, the 50 day moving average has recently dropped below the 200 day moving average, triggering a death cross and indicating that the fall in prices could be far from over. The $23 level is currently offering support, with yesterday’s test being the second such in the past two weeks. If the support continues to hold it could put a floor under silver at least. However, a drop beneath this level could signal a further drop to the $22 level last seen in December. To the upside the $24 level is resistance, and a solid break above that level could signal at least a short term rally. However, that’s not looking likely, and perhaps the best that traders can hope for is a continued sideways move at current levels in the tight range between $23 and $24.
The USD Advanced
2021-08-19 12:12UTC
The USD rallied today during the Asian hours.In addition, the USD gained overnight as the FOMC Minutes outlined an increasingly possibility of tapering.Presently, the USD versus the Euro trades at 0.854 EUR, which is an addition of $0.0012 or 0.14% from the previous close of 0.8536.That comes after the Fed stated a hawkish tone over the past two weeks. The USD index has inclined 0.30% to 93.43, with the catalyst appearing to be stop-loss selling in EUR/USD.The USD and US bonds hardly reacted to the Fed minutes. Additiaonlly, the USD index is now just shy of resistance at 95.50.
U.S. Daily Market Review
2021-08-19 12:07UTC
The S&P-500 lost some ground today in the face of issues over the Federal Reserve removing stimulus.The Nasdaq Composite gained 0.1% to 14,541.79. The Dow Jones Industrial Average retreated 66.57 points, or nearly 0.2%, to 34,894.12.The USD jumped to a nine-month peak amid concerns over widespread coronavirus infections.A recovery in the U.S. economy included stellar second-quarter corporate earnings season on top of accommodative monetary policy has underpinned higher mode for equities.U.S. economic advance for the second quarter could be revised following a recent raft of greater than initially thought data.
European Daily Market Review
2021-08-19 10:39UTC
European markets retreated today as most traders and investors digested the latest Federal Reserve minutes.The pan-European Stoxx-600 declined as much as 2% in mid-morning deals, with all sectors are into a falling side.The German DAX slipped 1.54%, the French CAC-40 lost 2.38% and the British FTSE-100 dropped 1.83%.ECB President Christine Lagarde will not be present at the conference, according to the ECB spokesperson.Norway’s central bank is likely to boost its key policy interest rate as early in September. Norges Bank’s monetary policy committee preserved the rate on hold at a record bottom of 0.0%.Euro zone government bond yields declined across the board, after minutes from a U.S. Federal Reserve meeting indicated in that the bank is not yet ready to slow down its asset purchases.
Gold Prices Dropped
2021-08-19 06:16UTC
Gold prices retreated this morning during the Asian hours.In the meantime the USD is gaining from ground as the USD advanced after the U.S. Federal Reserve indicated in that it could begin asset tapering as soon as 2021.Now, the yellow prices trades at $1776.46, which is another decline of $10.28 or 0.58% from the previous close of 1786.74.The daily trading range is from $1774.29 to 1788.76, while the trading volume is 89.744K.In fact, the USD came above a nine-month peak.Meanwhile, Bank Indonesia will report its policy decision later today.The markets are now focused on the Fed’s Jackson Hole symposium, which is scheduled for Aug. 26 to 28.
Asian Daily Market Review
2021-08-19 02:49UTC
Asian markets are seeing large broad based losses on Thursday morning following the sharp losses seen on Wall Street overnight. Traders are reacting to the latest Federal Reserve meeting minutes, which have confirmed that the Fed is on course to begin tapering its bond purchases before the end of 2021. In Japan the Nikkei is trading 0.7% lower, despite the Yen softening significantly against the U.S. dollar in reaction to the Fed tapering news. Shares of Softbank are edging up by less than 0.1% in opposition with the market losses, but Sony shares trade 1.8% lower. Among the major exporters Toyota is 1% lower, Panasonic is plunging 4.2% lower, and Canon has a loss of 2.6%. Australia’s S&P/ASX 200 is also trading 0.7% lower, with the big four banks mixed. Shares of NAB are 0.8% lower and Commonwealth Bank is 0.2% lower, but ANZ is 0.1% higher, and Westpac is edging up by less than 0.1%. Meanwhile the major miners are plunging lower, with BHP dropping 7.1% and Rio Tinto falling 5.1%. Mainland Chinese markets have also opened to significant losses, as the benchmark Shanghai Composite trades down by 1.1% and the smaller cap Shenzhen Composite has a 0.6% loss. Meanwhile over in Hong Kong the Hang Seng is leading losses for the region as it falls 1.6% lower. South Korea’s Kospi is trading 1% lower, and in Taiwan the Taiex has a substantial 1.5% loss. Southeast Asian markets are broadly lower as well, with the Straits Times in Singapore paring 1.1%, while Indonesia’s Jakarta Composite has a 0.9% loss, and Malaysia’s KLCI is trading 0.3% lower.
Crude Lower For Five Consecutive Sessions
2021-08-18 23:57UTC
Crude oil continued lower yesterday, notching its fifth consecutive losing session as trader worries over potential demand issues put pressure on the commodity. The close was at a three month low for crude, and analysts feel more downside could be in the cards. The drop is coming for several reasons. Rising COVID-19 cases are one, while the drop in economic activity in China is another. As China is the world’s largest consumer of crude it’s thought that a drop in economic activity could have a significant impact on crude demand. The rising COVID cases globally have also worried traders who fear another round of lockdowns that would further dent crude demand. On the other hand there have been some positive developments that could support crude and put a floor underneath its price. One of those is the announcement from OPEC regarding their production plans. At this time there are no plans to increase supplies from OPEC, which should help support prices. The other positive development comes from the U.S., where falling crude inventory levels and rising gasoline reserves indicates that there’s been no drop in demand from the U.S. yet. Of course that drop could soon develop if COVID cases continue spreading across the U.S. Overall, COVID is considered the most unpredictable element in the consideration of crude prices. While continued pandemic will provide downside pressures on crude, any relief on that front could soon spark a renewed rally as traders see it as a chance for demand to return to normal. This pullback could also be healthy for crude as prices did get somewhat extended during the recent demand optimism.
U.S. Daily Market Review
2021-08-18 16:58UTC
U.S. stock indexes are into a static mode today as investors are worried about making big forecasts ahead of minutes from the Federal Reserve's last meeting .The S&P-500 slipped slightly today as most traders and investors are focused on the release of the Federal Reserve’s latest meeting minutes for insights.Estimates predict the Fed to report its initiative “taper” of its asset purchases as early as its Sept. 21-22 meeting.The Dow Jones Industrial Average lost 80 points. The S&P-500 slipped 0.2% and the Nasdaq Composite traded close to the flatline.The USD advanced versus most pairs nagging concerns about the global economy forced investors to turn to safe heavens such as the greenback ahead of the release of the Federal Reserve’s July meeting minutes later today.The USD index partly declined 93.084, just below an early April peak of 93.20, seen last week.
European Daily Market Review
2021-08-18 11:27UTC
European markets partly inclined today as the markets are focused on the inflation data. The pan-European added 0.1% in early deals.The German DAX fell 0.07%, the French CAC-40 dropped 0.36% and the British FTSE-100 lost 0.27%.Carlsberg shares secured 2% after the Danish brewer raised its full-year earnings guidance on Wednesday.The leading nations of the European Union and the United States and other nations reported today in a joint statement they seriously concerned over about Afghan women.U.K. inflation data for July implied in a loss of 2% this morning. Many market analysts estimated that it was likely a blip with data projected to preserve trending higher in the coming months.
Crude Oil Prices Rallied
2021-08-18 05:14UTC
Oil prices surged this morning during the Asian hours, even after marking fifth sessions of losses.Presently, oil trades at $66.877, which is a gain of $0.326 or 0.49% from the previous close of 66.551.The daily trading range is from 66.392 to 66.888, while the trading volume is 6.447K.The oil demand outlook is still very unclear as restrictive measures to curb the uptick in COVID-19 cases globally, which limits the transport levels.Oil data  from the American Petroleum Institute indicated in a draw of 1.163 million barrels for the week ending Aug. 13. The U.S. Energy Information Administration (EIA) will report later today.The EIA’s monthly output report also announced that U.S. shale oil production could jump to 8.1 million barrels per day (bpd) in September, the largest of the last two years.
Asian Daily Market Review
2021-08-18 02:04UTC
Despite broad based losses overnight on Wall Street, and the concerns over rising COVID cases and slowing global growth, Asian markets are trading mostly higher on Wednesday morning. In Japan the Nikkei is trading 0.4% higher, helped by overnight weakness in the Yen versus the U.S. dollar. Shares of Softbank Group are 0.7% higher, and Sony is gaining 1.6%. Among the major exporters Toyota is flat, Panasonic is edging lower by less than 0.1%, and Canon is outperforming with a 0.5% advance. Australia’s S&P/ASX 200 is adding 0.2% following yesterday’s Reserve Bank of Australia statement which said second quarter growth in the nation is going to be unpredictable. The big four banks are supporting gains for the broader market however, with ANZ gaining 0.6%, NAB adding 1%, Commonwealth Bank also adding 1%, and Westpac trading 1.7% higher. Meanwhile the major miners are weighing heavily on the broader market as BHP plunges 4.6% lower and Rio Tinto falls 0.7%. In mainland China markets have opened lower, with the benchmark Shanghai Composite and the smaller cap Shenzhen Composite each trading lower by 0.2%. Over in Hong Kong the Hang Seng is taking its own course and trading 0.4% higher in opposition to the mainland’s losses. South Korea’s Kospi has a gain of 0.4%, but Taiwan’s Taiex is one of the few falling markets as it is down 0.7% in early trade. Southeast Asian markets are with the Straits Times in Singapore advancing 0.7% and the KLCI in Malaysia inching upwards by less than 0.1%, while the Jakarta Composite in Indonesia is flat in early trade.
Will Nvidia Meet Expected Earnings?
2021-08-17 22:07UTC
GPU maker Nvidia is set to release second quarter financial results tomorrow and there are mixed feeling as analysts have projected revenues will increase by over 605< but earnings will increase by less than 50%. While that is a healthy increase, it might not be enough to justify the nearly 50% increase in the price of the stock so far this year. Plus, there have been some questions regarding whether or not Nvidia can even hit the projected revenue and earnings numbers. While the company has beaten earnings estimates quite handily in all four of the past four quarters, it faced a number of challenges in the second quarter that may lead to weaker than expected results. For example, there’s an ongoing shortage of semiconductor chips, and Nvidia is just one of many companies that’s been negatively impacted by this. We know that they’ve been unable to meet customer demand for their products, yet they’ve also been able to post record revenues and earnings anyway. The question is how hard were they hit in the second quarter by supply chain issues. Unlike other semiconductor companies Nvidia does not manufacture their own chips. This reliance on third party sources could have led to greater shortfalls this past quarter. Another potential concern is the crackdown on cryptocurrency mining in China. Because many miners use Nvidia GPUs to mine,  when the crackdown came there was an abundance of Nvidia’s GPUs on the secondary market, and that may have eaten into new sales. Still, Nvidia has historically been very good at hitting sales and earnings numbers, so any worries may be much ado about nothing.
U.S. Daily Market Review
2021-08-17 13:31UTC
U.S. stock retreated some ground as July retail sales fell. This is a further signal that the economy moved to a lower gear.The Dow fell around 330 points, or 0.9%. The S&P 500 shed 0.8% and the Nasdaq Composite lost 1%.U.S. production factories surged in July, boosted by a rise in motor vehicle output as auto makers either pared or canceled annual retooling shutdowns to work around a global semiconductor shortage.U.S. business inventories jumped strongly in June.Business inventories secured 0.8% after advancing 0.6% in May, as reported by the Commerce Department.U.S. homebuilder sentiment sunk to a 13-month bottom in August amid high prices and costs.A serious rise of builder sentiment decreased for a third month to 75 from a July reading of 80, the largest loss since April 2020, according to the National Association of Home Builders/Wells Fargo data.
The USD Into A Rising Pattern
2021-08-17 08:47UTC
The USD advanced this morning during the Asian hours. Presently, the USD versus the Euro trades at 0.849 EUR, which is a minor incline of $0.0001 or 0.01% from the previous close of 0.8490 from the previous close.The daily trading range is from 0.8489 to 0.8501.Falling economic data from China and the rising spread of COVID-19's Delta variant, and the turmoil in Afghanistan all contributed to the rate of the safe-havens such as the greenback.The USD Index that tracks the greenback against a basket of other currencies added 0.05% to 92.668 by 10:43 PM ET (2:43 AM GMT).The euro sunk to as low as 128.50 yen, its lowest level since late March 2021. The U.S. Federal Reserve Chairman Jerome Powell will report at a town hall for educators later in the day. Moreover, the Fed will also report the minutes from its latest meeting tomorrow.
European Daily Market Review
2021-08-17 08:22UTC
European markets dropped some ground today, as the main indexes are into a falling path.This takes places amid rally in COVID-19 cases in Asia and elsewhere raised issues over a dropping economic growth.The German DAX tumbled 0.43%, the British FTSE-100 lost 0.15% and the French CAC-40 retreated 0.51%.The pan-European Stoxx-600 declined 0.3% during morning deals.U.K. jobs data indicated in a number of employees on British company payrolls rose month-on-month by 182,000 in July. The U.K.’s Office for National Statistics reported that the unemployment rate for the second quarter came in at 4.7%.BHP Group announced that Tuesday it would sell its petroleum assets to Woodside Petroleum in an all-stock deal.German bond yields fell alongside those of U.S. Treasuries to their bottom mark of the last week.
Gold Price Fell
2021-08-17 07:26UTC
Gold prices slipped this morning during the Asian hours. However, the price of the precious metal remained close to an over one-week peak as ever-jumping cases of COVID-19 cases on a global scale.Now, gold trades at $1794.52, which is a rise of $7.49 or 0.42% from the previous close of $1787.03.The daily trading range is from $1784.32 to 1795.20, while the trading volume is 94.419K.Moreover, the USD which is into a reverse relationship, appreciated this morning.The markets are now focused on the minutes from the U.S. Federal Reserve’s latest meeting, due to be released later today.In addition, the Reserve Bank of Australia stated the minutes from its latest meeting earlier in the day. The Industrial and Commercial Bank of China also announced transactions of precious metals for some accounts.In the meantime, silver added 0.3% and platinum gained 0.1%.
Asian Daily Market Review
2021-08-17 02:54UTC
Asian markets are mostly lower Tuesday morning as investors continue to monitor COVID outbreaks around the globe, and sentiment remains somewhat dented from the weaker than expected Chinese economic data released yesterday. Also adding to risk aversion today are events in Afghanistan, where the takeover by the Taliban is expected to have global repercussions. Japan’s Nikkei is one of the region’s rising markets, posting a modest gain of 0.2% as investors there are slightly upbeat over the halted gain in the Yen versus the U.S. dollar. Shares of Softbank Group are slightly lower by 0.2%, while shares of Sony are dropping 1.1%. Among the major exporters Toyota is 0.3% lower, Panasonic has a 0.5% loss, while Canon is rising 0.8% to support the broader index. In Australia the S&P/ASX 200 is 0.8% lower after the Reserve Bank of Australia expressed uncertainty over the economic growth in the second half of the year. The big four banks are sliding lower in line with losses for the index, with ANZ and NAB trading 0.8% lower, Commonwealth Bank losing 1%, and Westpac dropping 1.7%. Mainland Chinese markets have opened to slight gains, with the benchmark Shanghai Composite up less than 0.1%, while the smaller cap Shenzhen Composite is adding 0.1%. Over in Hong Kong the Hang Seng is slipping lower by 0.2%. South Korea’s Kospi is trading 0.8% lower, and in Taiwan the Taiex has a 0.3% loss. In Southeast Asia markets are mixed too, with the KLCI in Malaysia adding 0.8%, but the Jakarta Composite in Indonesia falling 0.8% and the Straits Times in Singapore losing 0.6%.
Tesla Shares Tumble
2021-08-16 23:06UTC
Tesla shares tumbled as much as 5% intraday Monday before settling with a loss of 4.3% after U.S. regulators announced an investigation into the company’s Autopilot system for its electric vehicles. The loss also put Tesla shares underwater for the year. Shares are now down 2.8% since the start of 2021 versus a gain of roughly 19% for the S&P 500. The investigation is being launched by the U.S. National Highway Safety Traffic Administration (NHSTA) into 11 crashes that resulted in 17 injuries and one death. All the incidents occurred in vehicles where Autopilot was engaged, and where the vehicles “encountered first responder scenes and subsequently struck one or more vehicles” according to the NHSTA. The report covers roughly 765,000 vehicles manufactured since 2014 by Tesla. There have been a number of probes into Tesla’s Autopilot over the past few months. Initial finding indicate that most of the crashes occurred after dark, and where there were clear first responder sings such as flares, flashing lights, cones, or an illuminated arrow board. Tesla officials declined to comment on the investigation on Monday. Investors are obviously concerned over the investigation, which could result in fines, recalls or both. In addition, it could seriously delay the launch of self-driving cars, something that Tesla’s CEO Elon Musk has been promoting for some time. It’s certain that the rollout of self-driving cars is priced into Tesla shares, but uncertain to what extent the current price reflects expectations for Tesla to release such vehicles and when. Tesla bulls claim this is simply a distraction, and that the company remains on track for autonomous cars in the near future.
U.S. Daily Market Review
2021-08-16 14:20UTC
The leading U.S. stock indexes retreated today amid issues of slowing global growth.The Dow fell 110 points, or roughly 0.3%. The S&P-500 slipped 0.5% and the Nasdaq Composite dropped about 1%.The USD appreciated today versus the main pairs such as the Australian and Canadian dollars, amid dropping economic data from China and the geopolitical issues in Afghanistan.The Biden administration reported a historic growth to the nation’s food stamp program, a decision that granted around 40 million Americans about 30% more to spend on groceries.Tesla’s stock tumbled this morning, as the National Highway Traffic Safety Administration reported a formal probe into the electric vehicle maker’s Autopilot partially automated driving system.Shares prices of Moderna advanced around 230% this year, but now fell  more than 9%.Coronavirus cases in the United States jumped by around 37,024 over the week-end to a total of 36.85 million, as reported by Reuters.
European Daily Market Review
2021-08-16 10:22UTC
European stocks dropped some ground, tracking Asian markets as investors react to lower than predicted economic data.The German DAX slipped 0.54%, the French CAC-40 fell 0.89% and the British FTSE-100 lost 0.89%.The pan-European Stoxx-600 declined 0.5% during mid-morning deals, with all sectors and major bourses in a falling side.The German carrier Lufthansa sunk toward the bottom of the index. BHP said it is in talks with Australian oil-and-natural-gas company Woodside Petroleum Ltd. on a potential deal to combine BHP’s petroleum unit with Woodside.BHP is also could follow the division as part of a strategic review. Israel Discount Bank announced a larger-than-estimated surge in quarterly profit as the country’s economy continued to recover from the coronavirus crisis.Borrowing costs in Germany tumbled to its weakest mark in over a week.The Taliban’s recapture of Afghanistan also boosted bond markets, regarded as a safe haven at times of geopolitical crisis.
Crude Oil Prices Dropped
2021-08-16 06:47UTC
Oil prices retreated more than 1% this morning, falling for a third session.This comes after official data indicated in that refining throughput and economic activity slowed in China.Now, oil trades at $67.461, which is a loss of $0.473 or 0.70% from the previous close of 67.934.The daily trading range is from 67.204 to 68.248, while the trading volume is 11.117K.Factory output and retail sales growth came lower  in July in China, amid missed predictions.China's crude oil processing last month also  sunk to its bottom on a daily basis since May 2020.In Japan a modest economic growth is expected in the current quarter.The International Energy Agency on Thursday reported that rising demand for crude oil reversed course in July. This is because of a slower rate over the rest of 2021 because of the advancing new COVID-19 cases.Many analysts also reduced their futures and options positions in New York and London by 21,777 contracts to 283,601 for the period.
Asian Daily Market Review
2021-08-16 01:40UTC
Asian markets are off to a weak start on Monday morning as investors are increasingly worried over the negative impact of rising COVID cases globally. The losses are coming ahead of a raft of Chinese data being released later today that could confirm the slowdown in the massive economy. Japan’s Nikkei is leading losses for the region as it’s fallen 1.4% in early trade. A stronger Yen is weighing on shares of Japan’s exporters, leading to a broad based drop in the market. Shares of Softbank are 1.9% lower today, and Sony shares have lost 2.1%. Among the major exporters Toyota shares are down 1.6%, Panasonic is losing 2.1%, and Canon has a loss of 1.3%. Australia’s S&P/ASX 200 is also falling today, trading lower by 0.4% as the big four banks are weighing heavily on the broader index. Shares of ANZ are down 2.2%, NAB has fallen 0.7%, Commonwealth Bank is down 1%, and Westpac shares have dropped 0.9%. Meanwhile the major miners are mixed, with BHP shares advancing 1.4%, while Rio Tinto is trading 0.3% lower. In mainland China markets have opened flat ahead of the flood of data, with both the benchmark Shanghai Composite and the smaller cap Shenzhen Composite edging lower by less than 0.1%. Meanwhile Hong Kong’s Hang Seng is following the mainland’s lead with a decline of 0.1%. South Korea’s Kospi is falling 1.2%, and in Taiwan the Taiex is just slightly lower by less than 0.1%. Southeast Asian markets are lower as well, with both the Straits Times Index in Singapore and the KLCI in Malaysia trading down by 0.7%.
Cannabis Stocks Are Heating Up
2021-08-14 16:19UTC
After a dismal few quarters things look to be heating up for the producers in the cannabis space. So far earnings season has shown promise for a number of Canadian and U.S. cultivators as many are growing nicely. It also looks like the legislative backdrop for cannabis is improving. As the market heats up there are a number of things investors should be watching. First of these is of course profitability, but also how well companies are using those profits. For example, last week Tilray not only delivered solid profits, it also showed it is becoming increasingly profitable. It’s recent merger with Aphria have already yielded cost savings thanks to synergies and Tilray has its eye on more growth. Canopy Growth is also worth watching due to its partnership with Constellation Brands, which gives Canopy an excellent distribution network and access to Constellations strong branding experience and knowledge. U.S. producers also look strong, and are boosting production and profits consistently. The U.S. producer stocks look very affordable at current levels, meaning investors could be buying significant growth at a discount. Another potential positive for the industry is the bill introduced in July that would make cannabis legal in the U.S. at the Federal level. That would open up massive opportunity for cannabis stocks as many institutions are currently unable to purchase shares due to the illegal Federal status of cannabis. Those who are investing in cannabis stocks now are still well ahead of the curve. The industry remains very young, and the growth potential, particularly in the U.S., is massive as roughly half of all states have yet to legalize.
U.S. Daily Market Review
2021-08-13 13:07UTC
The major indexes of S&P-500 and Dow Jones Industrial Average soared today.The Dow inclined 70 points, while S&P 500 futures added 0.1%. On the other side, Nasdaq-100 dropped less than 0.1%.Shares of Disney secured more than 5% in premarket trading. This comes after the company announced blowout fiscal third-quarter earnings, coming above forecasts.Pfizer stock prices advanced around 0.2% after the Food and Drug Administration authorized booster shots for certain people with weakened immune systems.U.S. import prices gained less than estimates in JulyImport prices added 0.3% last month after jumping 1.1% in June, as reported by the Labor Department.The ninth straight monthly of surges resulted the year-on-year rise at 10.2% versus to11.3%, seen in June.
European Daily Market Review
2021-08-13 08:43UTC
The major European markets аre without a clear direction today, as most traders and investors are focused on the global economic indicators and rising Covid-19 cases.The German DAX gained 0.27%, the French CAC-40 inclined 0.21% and the British FTSE-100 secured 0.31%.The pan-European Stoxx 600 inclined 0.1% above the flatline in early trade, with retail stocks secured 0.6%.Мeanwhile, markets in Asia-Pacific retreated in Friday’s trade, with South Korea’s Kospi leading the falling path.London’s FTSE-100 advanced, led by heavyweight miners and retailers.The blue-chip FTSE-100 added 0.3%, heading for a fourth straight weekly surge. The GBP depreciated to two-week bottom against the USD. This is creatin a path for a second week of losses as investors looked for fresh catalysts after a surging economy.
Gold Prices Advacned
2021-08-13 06:56UTC
Gold prices rallied this morning during the Asian hours, but was set for a second consecutive weekly retreat.Now, gold trades at $1756.89, which is an addition of $4.55 or 0.26% from the previous close of 1752.34.The daily trading range is from $1751.51 to 1759.22, while the trading volume is 48.681K. The markets are focused on the U.S. Federal Reserve’s next monetary policy move.The USD moves into an inversely relationship to the precious metals, retreated but it is close to a four-month peak market earlier in the week.The latest U.S. economic data, released on Thursday, stated that the producer price index secured 1% month-on-month in July.The consumer price index released the day before suggested that inflationary pressures are peaking, soaring less than initial estimates of 0.3%.In the meantime, the U.S. data also reported that 375,000 initial jobless claims were filed throughout the week.Meanwhile, silver gained 0.2%, while platinum edged dropped 0.2%. 
Asian Daily Market Review
2021-08-13 02:34UTC
Asian markets are mixed Friday morning, with several trading right near unchanged levels after Wall Street indices traded to new record levels overnight. However the continued rise in COVID cases, and shutdown of Chinese ports is placing a good deal of negative sentiment heading into the weekend. Japan’s Nikkei is one of those flat markets, trading slightly lower by less than 0.1%. One extra weight on the Nikkei is overnight strength in the Yen versus the U.S. dollar. Shares of Softbank are also slightly lower by less than 0.1%, while Sony is showing its strength with a gain of 0.9%. Among the major exporters Toyota is trading 0.3% higher, Panasonic has a 0.5% gain, and Canon is adding 0.2%. In Australia the S&P/ASX 200 is trading 0.5% higher, with the big four banks providing underlying strength. Shares of ANZ are up 0.4%, NAB is trading 1.1% higher, and Westpac is up by 1.2%. However Commonwealth Bank has a loss of 0.9% as it’s falling for a second consecutive day. In mainland China markets are headed higher at the open, with the benchmark Shanghai Composite rising 0.1%, while the smaller cap Shenzhen Composite is adding 0.4%. Meanwhile Hong Kong’s Hang Seng is taking its own direction as it trades slightly lower by less than 0.1%. South Korea’s Kospi is leading losses for the region with a drop of 1.8%, and in Taiwan the Taiex is trading 0.9% lower. Markets are mixed in Southeast Asia, with the Jakarta Composite up 0.1% and the KLCI in Malaysia edging up less than 0.1%, while the Straits Times in Singapore is losing 0.6%.
GBP/USD Testing Psychological Support
2021-08-12 22:58UTC
The GBP/USD fell through the psychological support at the 1.3800 level briefly on Thursday as the U.S. dollar caught a bid on inflation data, while the Pound suffered from worries growth in the U.K. has peaked. The pair did recover to back above the 1.3800 level by the close, but could see additional pressure tomorrow. The U.S. dollar gained strength mid-day on Thursday after the Producer Price Index came in stronger than expected, easing recent worries that have sprung up in reaction to the weakness in Wednesday’s Consumer Price Index release. The PPI racked up its largest annual increase in a decade, reaffirming expectations for early tapering from the Federal Reserve. The PPI was up 1% in July after also posting a 1% increase in June. On an annual basis through July the PPI jumped 7.8%, showing that inflation remains strong in the U.S. Adding to pressure on the pair was the release of the U.K.’s growth figures earlier in the day, which indicated that growth may have peaked. Second quarter growth in the U.K. was 4.8%, which was inline with expectations. This has undermined the hawkish stance of the Bank of England to some extent, and dried up buying interest for the Pound. GBP/USD fell as far as 1.3794 during the session, which wasn’t quite to the July 23 low of 1.3780. While we could get a second test of that level on Friday, it’s more probable the pair will settle into a consolidation range from 1.3780 to 1.3830 heading into the weekend. Meanwhile, the US dollar could have topped ahead of the Jackson Hole Symposium later this month.
U.S. Daily Market Review
2021-08-12 12:07UTC
U.S. stocks are still without a solid direction but the Dow Jones Industrial Average managed to notch a new intraday record.However, the main indexes partly tumbled as investors weighed data showing a steady new hirings recovery against a rise in producer prices.The Dow dropped 50 points after rallying to new all-time high at the open. The S&P-500 added 0.1% and the Nasdaq Composite secured 0.2%.Micron shares retreated 5% after Morgan Stanley estimated a slowdown in the memory chip market.The USD partly advanced versus the main pairs, after data showed producer prices posted their largest surge on annual basis of the last 10 years in the 12 months through July.
The USD Is Into A Falling Side
2021-08-12 09:49UTC
The USD lost some ground this morning during the Asian hours. In fact, the USD preserved its positions around a four-month peak as the U.S.’ latest inflation data came higher than estimates.Presently, the USD versus the Euro trades at 0.851 EUR, which is a minor loss of $0.0002 or 0.02% from the previous close of 0.8517.The USD Index that tracks the greenback against a basket of other slipped 0.02% to 92.898.Data released in the U.S. on Wednesday said the core consumer price index (CPI) added 0.3% month-on-month in July.Richmond Fed President Thomas Barkin told Reuters it could take a few more months before the U.S. job market is sufficiently recovered.However, some investors still expect the Fed to report a tapering of stimulus in the year. 
European Daily Market Review
2021-08-12 09:32UTC
European stocks are still without a clear market direction amid rising issues over global Covid-19 cases.The German DAX added 0.22%, the French CAC-40 inclined 0.12% and the British FTSE-100 slipped 0.13%.The pan-European Stoxx-600 hovered around the flatline in early trade, with basic resources falling 1.4%.Euro zone factory output dropped in June as Germany, as the economy is facing serious supply bottlenecks.The EU’s statistics office Eurostat reported industrial output in the 19 countries in the euro zone retreated 0.3% month-on-month.The GBP only slightly moved today as most market specialists predict the Bank of England to make no moves in its monetary policy.The Office for National Statistics reported that the economy secured aorund 4.8% in the second quarter.
Crude Oil Prices Into A Steady Path
2021-08-12 06:31UTC
Oil prices are into a steady pattern today following two sessions of rallies after a call from the United States, the world's top oil consumer.Now, oil trades at $69.100, which is a loss of $0.253 or 0.36% from the previous close of 69.353.The daily trading range is from $68.948 to 69.481, while the trading volume is 10.013K.The U.S. Senate on Tuesday approved a $1 trillion infrastructure bill that will expand transporation systems.The White House urged the Organization of the Petroleum Exporting Countries (OPEC) and its allies to boost supply output in order to compensate the rising gasoline prices.However, there are still issues over the advance will not be adequate to satisfy demand as the U.S. and Europe ease their coronavirus-induced movement restrictions. Moreover, the White House announced its outreach to OPEC+ is ongoing and aimed at long-term engagement.In addition, the EIA report weighed on prices. U.S. crude oil stockpiles dropped last week.
Asian Daily Market Review
2021-08-12 02:19UTC
Asian markets are mixed again on Thursday morning, with some markets giving back early gains. Overnight saw Wall Street indices strike new records following a weaker than expected reading of inflation in the U.S. The U.S. dollar also fell in response to the inflation readings, and continues to soften versus Asian counterparts. Japan’s Nikkei is trading 0.3% higher, although the stronger Yen versus the U.S. dollar is weighing on the index. Shares of Softbank are trading 0.4% higher today, but Sony shares have fallen 0.6%. Among the major exporters Toyota is trading 0.1% higher, and Panasonic is gaining 0.4%, while Canon is outpacing them both with a gain of 0.9%. In Australia the S&P/ASX 200 is edging up by less than 0.1%, with the big four banks mostly flat. Shares of ANZ, NAB, and Westpac are all trading slightly higher by less than 0.1%, but Commonwealth Bank shares are falling 1.9% despite unveiling a record $4.4 billion share buyback plan yesterday. Meanwhile the major miners are mixed, with BHP rising 0.2%, but Rio Tinto shares falling 1.1% as Chinese ore purchases are weaker. In mainland China markets have again opened to losses, but they are modest as the benchmark Shanghai Composite trades just 0.1% lower, while the smaller cap Shenzhen Composite is trading 0.2% lower. Meanwhile in Hong Kong the Hang Seng is outpacing the losses from the mainland for a second consecutive session and trades 0.3% lower. South Korea’s Kospi is inching up by less than 0.1%, and in Taiwan the Taiex has a 0.3% loss. In Singapore the Straits Times Index leads the region with a 0.4% advance.
U.S. Daily Market Review
2021-08-11 12:42UTC
The U.S. leading shares advanced today after inflation surged.In the meantime, shares on a global scale reached to peak marks today after data showed U.S. consumer price jumped less last month.The Dow Jones Industrial Average added around 160 points, or 0.5%. The 30-stock Dow was boosted by names like Caterpillar and Home Depot. The technology-heavy Nasdaq Composite slipped 0.5%. The 10-year Treasury yield is partly static after the CPI report, providing in earlier surge and trading around 1.344%. The USD depreciated today after U.S. inflation data showed consumer price increases.The consumer price index secured 0.5% last month after adding 0.9% in June, according to the Labor Department.
European Daily Market Review
2021-08-11 12:06UTC
European stocks are still without a clear market direction, as traders and investors are still concerned over remained cautious with investors monitoring Covid-19 developments.The German DAX slipped 0.03%, the French CAC-40 gained 0.27% and the British FTSE-100 inclined 0.45%.The pan-European Stoxx 600 inched 0.2% above the flatline by early afternoon.ABN AMRO shares surged 4.7% to lead the Stoxx-600.Euro zone bond yields rallied today, tracking U.S. Treasury yields higher ahead of crucial U.S. inflation data.French company Carrefour is very likely to sale its Taiwan business, which is valued at around 1.6 billion euros ($1.9 billion) in the next month.
Gold Prices Surged
2021-08-11 06:27UTC
Gold prices advanced this morning during the Asian hours but a rising USD and rising bond yields.Now, gold trades at $ 1731.60, which is a surge of $2.90 or 0.17% from the previous close of 1728.70.The daily trading range is from 1723.96 to 1735.07, while the trading volume is 61.38K.The USD, which in general is into negative relationship to the precious metal, appreciated today and the greenback is close to a three-week peak.The U.S. Senate аpproved a massive infrastructure plan yesterday, which will now be on by the House of Representatives.The markets are now focused on the U.S. core consumer price index, due to be released later today. The Fed could start launch asset tapering or hike interest rates prematurely.Meanwhile, silver secured 0.1% to $23.29 per ounce. Platinum also soared around 0.7%.
Asian Daily Market Review
2021-08-11 01:46UTC
Asian markets are having another mixed day on Wednesday following the same overnight on Wall Street. Investors continue to struggle with the conflicts of apparent strong economic recovery and rising COVID cases, which could put a quick end to those recoveries. It’s a conundrum that’s had markets seesawing back and forth for some time. Japan’s Nikkei is trading 0.4% higher, continuing to get a boost from the strength in the U.S. dollar versus the Yen. In contrast with the gains for the broader market, shares of Softbank are trading 1.8% lower and Sony shares are edging down by less than 0.1%. Among the major exporters Toyota is adding 0.7%, Panasonic has a gain of 0.8%, and Canon is edging lower by 0.2%. In Australia the S&P/ASX 200 is trading 0.5% higher as the big four banks are supporting the broader market with a strong upward push. Shares of ANZ are trading 1.5% higher, NAB is advancing 1.7%, Commonwealth Bank is adding 1.6%, and Westpac has a 1.1% gain. Meanwhile the major miners are also supporting the broader market as BHP adds 2.1% and Rio Tinto advances 1.9%. Mainland Chinese markets have opened just slightly lower, with both the benchmark Shanghai Composite and the smaller cap Shenzhen Composite edging lower by less than 0.1%. Over in Hong Kong the Hang Seng is outpacing the losses on the mainland with a drop of 0.4%. South Korea’s Kospi trades 0.4% lower, and in Taiwan the Taiex is falling 0.6%. Southeast Asian markets are mixed, with the Straits Times in Singapore losing 0.5% and the Jakarta Composite in Indonesia falling 0.6%, while Malaysia’s KLCI adds 0.6%.
Coinbase Shares Fall Despite Solid Earnings
2021-08-10 21:35UTC
Global crypt exchange Coinbase saw its shares fall 3.9% ahead of its first earnings report as a publically traded company. Shares are also down 1% following the earnings report, which was released after the close of U.S. markets on Tuesday. Coinbase reported second quarter revenues of $2 billion, which exceeded expectations of $1.88 billion. Earnings more than doubled expectations, with the exchange reporting $1.6 billion in earnings versus expectations for $683.3 million. Despite the positive results shares were trading lower after hours as the company, which doesn’t provide forward financial guidance, warned of lower transaction volumes and transacting users in the current third quarter. More good news from the company is that its trading volumes grew by 38% in the second quarter, despite the drop in Bitcoin and other cryptocurrencies during the period. Institutional trading volume led that as it rose 47%, while retail trading volumes rose 21%. Because retail traders pay significantly higher fees versus institutions, the retail trading side of the business accounted for roughly 95% of Coinbase’s transaction revenues in the second quarter. Coinbase says it added roughly 1,000 new institutional users during the quarter, which highlights the growing adoption of cryptocurrencies by traditional finance companies. Also highlighting this fact is Coinbase’s statement that roughly 10% of the largest hedge funds are currently using its services. Coinbase also said it is providing services to Elon Musk, and his companies SpaceX and Tesla. Investors might find that as a positive considering Musk’s positive impact on the cryptocurrency markets. Also positive is the rate at which Coinbase is adding new products, which helps to drive additional transactional revenues.
U.S. Daily Market Review
2021-08-10 14:31UTC
Stocks are into a higher side, stimulating the Dow and S&P-500 to another record.At 9:58 a.m. ET, the Dow Jones Industrial Average added 70.53 points.The S&P-500 inclined 8.41 points, or 0.19%, at 4,440.76, and the Nasdaq Composite surged 23.54 points, or 0.16%, at 14,883.72.Exxon Mobil and Chevron soared more than 1% today.U.S. worker productivity growth dropped in the second quarter and labor costs came lower than previously predicted.Nonfarm productivity rallied at a 2.3% annualized rate last quarter. Kansas City Southern (KSU.N) advanced 7.8% after Canadian Pacific Railway Ltd (CP.TO) raised its offer for the U.S. railroad operator by about $2 billion to $27.29 billion. The new chairman of Wells Fargo & Co will be Steven Black succeeding Charles Noski who will retire at the end of September.Black has served as co-chief executive officer of private equity firm Bregal Investments since 2012.
The USD Into A Msssive Rise
2021-08-10 10:13UTC
The USD surged to a four-month high against the Euro today.This comes after solid U.S. jobs data bolstered estimates that the Federal Reserve could soon launch tapering its massive bond-buying programme.Currently, the USD against the common currency trades at 0.853 EUR, which is another incline of 0.0015 or 0.18% from the previous close of 0.8518. The daily trading range is from 0.8517 to 0.8537.Тhe greenback was getting a boost from advancing U.S. bond yields.U.S. job openings jumped to a record high in June while hiring also soared, as reported by the Labor Department. This comes after Friday's non-farm payroll report indicating in jobs increased by 943,000 in July, above the estimate of 870,000 The USD index SURGED on Friday and Monday, and marked an 18-day high of 93.02 during Asian trading hours from today.Tomorrow is due the U.S. consumer inflation data, which is expected to provide in some signals on the timing of the Fed's bond-purchase taper.
European Daily Market Review
2021-08-10 08:59UTC
European stocks advanced today, hoping to break out from a cautious approach. European stocks jumped to peak marks, extending rallies to a seventh straight session.The German DAX gained 0.09%, the French CAC-40 inclined 0.01% and the British FTSE-100 slipped 0.11%.The pan-European Stoxx-600 soared 0.3% in early trade, with travel and leisure stocks adding 1.8% to lead the rising pattern.Investor mode in Germany deteriorated for the third month in a row in August amid issues over that rising COVID-19 infections.The ZEW economic research institute reported its survey of investors’ economic sentiment sunk to 40.4 from 63.3 points.Air France KLM and French hotels company Accor dropped after the United States issued a travel warning due to high levels of the COVID-19 virus in France.Swiss duty free retailer Dufry fell 1.0%.
Crude Oil Prices Into Recovery
2021-08-10 06:44UTC
Crude oil prices jumped more than 1% today, recovering some of the retreats in the previous session when prices dropped to three-week bottom.Now, oil prices trades at $67.630, which is a rise of $0.819 or 1.23% from the previous close of 66.811.The daily trading range is from 66.547 to $68.021, while the trading volume is 15.997K.However, price surges could be limited on worries that advancing COVID-19 cases and restrictions in China will dent fuel demand.China today announced greater COVID-19 infections in the latest outbreak. In fact, the country is the biggest oil consumer of the world.In the United States, the Senate is very likely to pass $1 trilon infrastructure bill later today. In case, this is approved this would stimulate the economy and demand for oil as a result. But surging cases of COVID-19 are blighting the outlook for economic growth and overall consumption.Moreover, crude oil inventories are very likely to retreat around 1.1 barrels in the week to Aug. 6, according to initial forecasts.
Asian Daily Market Review
2021-08-10 02:26UTC
Markets were mixed across Asia on Tuesday as investors continued to worry over the rise in regional and global COVID-19 cases, and talk of ending stimulus measures. In Japan investors are returning from a three day holiday extended weekend and have sent the Nikkei 0.6% higher to lead gains across the region. The strength is partially due to weakness in the Yen versus the U.S. dollar, which is supporting shares of Japan’s exporters. Softbank Group is trading 1.1% higher, but Sony is falling 1.9%. Among the major exporters Toyota is adding 0.7% today, Panasonic is edging higher by less than 0.1%, but Canon shares are trading 0.4% lower. Australia’s S&P/ASX 200 is holding to a slight gain of less than 0.1%, with the big four banks posting a mixed performance. Shares of Commonwealth Bank are trading 0.6% higher and Westpac is adding 0.3%, but ANZ has a loss of 0.4%, while NAB inches lower by less than 0.1%. Among the major miners BHP is advancing 0.1%, but Rio Tinto shares are falling 0.5%. Mainland China’s markets have opened to losses once again, with the benchmark Shanghai Composite losing 0.5% and the smaller cap Shenzhen Composite falling 0.3%. Meanwhile over in Hong Kong the Hang Seng is following the mainland’s lead with its own drop of 0.4%. South Korea’s Kospi is trading 0.7% lower, but the Taiex in Taiwan has the largest loss in the region as it trades down by 0.8%. Southeast Asian markets are mixed as Singapore’s Straits Times adds 0.6% and the KLCI in Malaysia is 0.5% higher, but in Indonesia the Jakarta Composite is losing 0.5%.
Flash Crash Sends Gold Plummeting
2021-08-09 21:40UTC
Gold suffered a sharp flash crash of nearly $90 an ounce early Monday on the strength of the U.S. dollar and subdued trading volumes in the Asian session. While price rebounded later in the session gold remained 1.7% lower at the close. There are a number of things weighing on gold right now, with the stronger U.S. dollar being just one. Traders are also watching Treasury yields climb higher, and are expecting tapering and interest rate hikes to come from the Fed sooner rather than later. All three factors have combined in a perfect storm to push gold lower. Prices finished the session at the $1,729 level, which is a support level for gold. That means prices could see a recovery in the coming sessions if we get a bounce off this support level. However if prices continue lower then we should look for the $1,680 level, which is where the flash crash ended today, as the next major support level. That’s actually a double bottom from March, with another double bottom at the same level from April and May of 2020, and it should provide significant support. If that support level breaks the next significant support level isn’t until the $1,460 area, which could mean gold I sin for a prolonged slide. On the other hand if a bounce off support at either the $1,730 or $1,680 level occurs we would look for gold to target the resistance seen at the $1,830 handle. However, worries over rising delta COVID cases could create enough risk aversion to spark some safe haven buying in gold in the coming weeks.
U.S. Daily Market Review
2021-08-09 20:23UTC
U.S. markets struggled on Monday as a bout of profit taking, fears over the delta COVID variant, and a downgrade on Chinese growth by Goldman Sachs all worked to dent investor sentiment. Also pressuring equity markets was a rout in commodity markets, with both gold and oil falling sharply on the day, although for different reasons. By the end of the session the S&P 500 was 0.1% lower and the Dow Industrials lost 0.3%, while the tech heavy Nasdaq squeezed out a 0.2% gain. That left all three indices near record levels. Of course investors remain quite optimistic over the strength of the U.S. economic recovery, however that’s being tempered recently by the growing number of COVID cases as the highly contagious delta variant spreads, particularly in the southern U.S. states. That’s led to concerns regarding companies that were planning on having employees return to the workplace in the fall, and for the start of the school season as kids under the age of 12 aren’t able to receive the vaccine yet. Seven of the eleven S&P subsectors finished the day in the red, with the 1.5% loss in the energy sector the worst. The industrial and technology sectors each fell 0.4%, but other sector losses were more modest. On the other side of the market the financial and health care sectors rose 0.4% each. The biggest winner in the S&P 500 was Tyson Foods, with shares rallying 8.7% higher after the company reported better than expected earnings, while also lifting future guidance. The biggest loser was Air Products, with shares falling 5.2% after the company missed earnings estimates.
European Daily Market Review
2021-08-09 17:08UTC
European markets closed on Monday mixed and little changed to start the week as declines in gold and oil spooked investors. The U.S. dollar also continued its advance on most European currencies as investors believe the Federal Reserve will soon begin tapering its bond buying program. At the close the DAX in Germany was 0.1% lower, while the CAC 40 in France edged slightly lower by less than 0.1%. Italy’s FTSE MiB led gains for the region with a 0.5% advance, while the IBEX 35 in Spain declined 0.2%. In the DAX 30 pharmaceutical company Merck led gainers as it added 2.1%, while Siemens Energy climbed 1.2% higher. At the bottom of the leader board was Delivery Hero with a 3.2% loss. Meanwhile in the French CAC 40 multinational information technology service and consulting company Atos SE led gains as it jumped 3% higher, followed by a 1.6% gain for chip maker ST Microelectronics. Engine and auto makers crowded the bottom of the index as Safran fell 2.2%, Renault lost 2%, and Airbus Group was 1.8% lower. Over in the U.K. the FTSE 100 finished the session 0.1% higher. Scottish energy firm SSE led the list with a gain of 5%. Financials also showed strength as Scottish Mortgage shares rose 2.7% and Sber Bank advanced 1.8%. A financial services company was also at the bottom of the list as shares of Hargreaves Lansdown plummeted 11.3% after warning that the pandemic inspired boom in trading would soon come to an end. Shares of Rolls Royce were also 3% lower, and EasyJet shares fell 2.6% on the day.
Asian Daily Market Review
2021-08-09 02:10UTC
Markets are mixed across Asian and struggling to make gains as investor attention has turned to the worsening COVID situation across the region. The USD is strengthening versus regional currencies as traders react to the strong employment data released last Friday in the U.S. Markets are closed today in Japan and Singapore for public holidays. In Australia the S&P/ASX 200 is trading 0.3% higher, helped by the strength of the U.S. dollar versus the Australian dollar. The big four banks are helping support the main index with strong gains today. Shares of ANZ are trading 1.4% higher, NAB has a 1.3% gain, Commonwealth Bank is adding 1.4%, and Westpac trades 1.5% higher. At the same time major miners are trading mixed as losses for gold in response to the stronger USD are weighing. Shares of BHP are edging up by 0.1%, but Rio Tinto is trading 0.7% lower. In mainland China markets have opened mixed, with the benchmark Shanghai Composite rising modestly by 0.1%, but the smaller cap Shenzhen Composite trading 0.2% lower. In Hong Kong investor sentiment is higher, giving the Hang Seng a gain of 0.3%. South Korea’s Kospi trades slightly lower by 0.1%, while the Taiex in Taiwan is leading losses for the region with a drop of 0.9%. Southeast Asian markets are making gains, with the KLCI in Malaysia advancing 0.3% and the Jakarta Composite in Indonesia has opened to a gain of 0.4%. Gold is 1.4% lower in response to the rising U.S. dollar, and crude is falling 1.7% as traders worry about demand crashing in response to rising COVID cases.
Lowest Weekly Close For EUR/USD Since October
2021-08-06 23:42UTC
The EUR/USD fell to its lowest closing level since April 4, ending the session at the 1.1757 level. The drop of 76 pips came following the release of the U.S. non-farm payrolls, which was stronger than markets were expecting. The non-farm payrolls showed the U.S. economy added 943,000 jobs in July, while the unemployment rate fell to 5.4%. That is likely strong enough to classify as “substantial further progress” for the labor market in the Fed’s eyes, although they’ll likely want at least one more month of similar data before committing to bond tapering. The drop in the pair was almost solely due to U.S. dollar strength as rising Treasury yields helped to support the greenback. In fact, the 10-year Treasury soared 5% higher to a 1.29% yield as investors were clearly actively dumping bonds in a belief that Fed tightening will now be coming sooner rather than later. While it wasn’t quite the lowest daily close of 2021, it was the lowest weekly close. You have to go back to October to see a weekly close lower than that experienced in the past week. The question now is whether the pair will bust down through the support at the 1.1750 level, or rebound on Monday if traders come to think that the selling on Friday was overdone. Either course is possible, so traders will need to be on their toes when markets reopen. If the pair were to fall through the support at the 1.1750 level then the next logical level of support will be the 1.1625 level, which was tested several times on the weekly chart last September and October.
U.S. Daily Market Review
2021-08-06 11:37UTC
The major U.S. stocks hoped to enter into recovery after a higher than predicted jobs report on today.The Dow Jones Industrial Average gained 135 points, or 0.4%, and hit an intraday record high. The S&P-500 inclined 0.1% and reached its own intraday all-time peak. The Nasdaq Composite slipped 0.4%.Amazon and Apple partly retreated, while Zoom Video tumbled more than 3%..U.S. wholesale inventories advanced more than initially estimated in June.The Commerce Department reported today that wholesale inventories secured 1.1%, instead of 0.8% as estimated last month. Nonfarm payrolls jumped 943,000 jobs last month, as reported by the Labor Department. Initial forecasts included 870,000 new job creations.
European Daily Market Review
2021-08-06 10:20UTC
European markets are still without a solid direction as the markets are focused on thefresh round of corporate earnings and the global rally of the delta Covid-19 variant.The German DAX gained 0.17%, the French CAC-40 inclined 0.04% and the British FTSE-100 surged 0.06%.The GBP is into a steady path, preserving its ground to the four-month high against the common currency.This comes after the Bank of England set out plans for how it would follow a stricter monetary policy.The pan-European Stoxx-600 hovered just below the flatline in early trade, with insurance stocks adding only 1%.Maersk, the world’s largest container shipping firm, reported a massive advance of its second-quarter earnings. The company announced earnings before interest, tax, depreciation and amortization (EBITDA) of $5.1 billion, a 200% surge from the $1.7 billion last year.
Crude Oil Prices Could Soon Fall
2021-08-06 07:04UTC
Oil prices rallied this morning during the Asian hours but are expected to retreat in the coming few sessions.  There are some serious fears as many governments introduced again restrictive measures to curb their latest COVID-19 outbreaks continue to cloud the fuel demand outlook. However, the present tensions in the Middle East between Iran and Israel are adding to the downside pressures of oil prices.Now, oil trades at $69.511, which is another minor gain of $0.422 or 0.61% form the previous close of 69.089.The daily trading range is from 68.856 to 69.692, while the trading volume is 8.777K.Japan extended its state of emergency earlier in the week to more prefectures outside Tokyo, while China, the largest oil consumer imposed restrictive measures.
Asian Daily Market Review
2021-08-06 02:12UTC
Asian markets are mixed and little changed Friday morning as investors are awaiting the release of the non-farm payrolls report in the U.S. later today. In Japan the Nikkei is fluctuating back and forth, but holding onto a slight gain of 0.1% headed into the lunch break. Shares of Softbank are 0.4% lower, while Sony is adding 0.6%, and Nintendo is weighing heavily on the broader index with a loss of 8.3% after missing earnings expectations. Among the major exporters Toyota is 1.1% lower, Panasonic is falling 0.5%, and Canon has a 0.4% loss. Australia’s S&P/ASX 200 is also trading back and forth over unchanged levels today, and heading into the final hours of trade is sitting just slightly lower by less than 0.1%. Shares of the big four banks are providing support, with ANZ trading 0.5% higher, NAB advancing 0.2%, Westpac up by 0.3%, and Commonwealth Bank edging up by less than 0.1%. The major miners are a drag however, with BHP trading 2.5% lower, while Rio Tinto has a loss of 1.8%. Mainland Chinese markets have opened to losses, with the benchmark Shanghai Composite falling 0.5%, and the smaller cap Shenzhen Composite losing 0.6%. Meanwhile in Hong Kong the Hang Seng is pacing the mainland losses with a drop of 0.4%. South Korea’s Kospi is trading 0.3% lower, and in Taiwan the Taiex is down by 0.6%. Southeast Asian markets are putting in a mixed performance however, with the Straits Times in Singapore and the KLCI in Malaysia inching lower by less than 0.1%, while Indonesia’s Jakarta Composite is leading gains for the region as it adds 0.8%.
U.S. Daily Market Review
2021-08-05 18:43UTC
The leading U.S. equity indexes advanced today as energy and travel stocks entered into recovery.The Dow Jones Industrial Average gained 185 points, or 0.5%. The S&P-500 secured 0.4%, while the Nasdaq Composite inclined 0.7%. The moves in the stocks came after a mostly lower regular session on Wednesday, which saw the Dow drop 300 points.Weekly initial jobless claims jumped to 385,000 today in hand with estimates.The claims data was the last reading before the key July jobs report, which will be released on Friday morning. Initial claims for state unemployment benefits fell by 14,000 to 385,000 in the week ended July 31, while layoffs sunk to its bottom of the last 21 years, as reported by the Labor Department.The Biden administration dedicated more than $3 billion in additional funding for local governments to boost their resilience to climate change.
European Daily Market Review
2021-08-05 07:30UTC
European markets are into a mixed pattern this morning as the market is focused on corporate earnings and await a key monetary policy decision from the Bank of England.The pan-European Stoxx-600 moved just above the flatline in early trade, with tech stocks adding 0.6% while retail tumbled 1.1%.The French CAC-40 added 0.24% and the British FTSE-100 slipped 0.09%.The Bank of England for its monetary policy decision Thursday. The bank is likely to preserve its massive stimulus program despite continued recovery from the pandemic bottoms.German industrial orders advanced more than forecasts in June, boosted by bookings for large industrial items mainly from domestic clients.The Federal Statistics Office indicated in orders for goods from Germany soared 4.1% on monthly basis.
Gold Prices Fell
2021-08-05 06:47UTC
Gold price dropped this morning during the Asian hours, as the market is focused on remarks from a top U.S. Federal Reserve official that suggested that the central bank could begin asset tapering sooner than initial forecasts.Now, gold trades at $1809.83, which is a decline of $1.45 or 0.08% from the previous close of 1811.28.The daily trading range is from 1808.29 to 1812.42, while the trading volume is 45.604K.Gold managed to recover around 1% during the previous session as the U.S. released some economic data that indicated in ADP non-farm employment change was at 330,000 in July, less than the estiamtes.The precious metal retreated some of the overnight gains, however, after Fed Vice Chair Richard Clarida suggested that conditions for interest rates hikes could be met by the end of 2022. The market now awaits the Bank of England’s policy decision, coming later today.Meanwhile, the number of COVID-19 on a global scaled jumped above the 200 million mark as of Aug. 5.Meanwhile, platinum sunk to an over seven-month low of $1,005.50.
Asian Daily Market Review
2021-08-05 01:45UTC
Asian markets are mixed and little changed on Thursday morning following a similar session on Wall Street as the continued rise in COVID cases and weaker economic data from the U.S. and China have created some risk aversion among investors. Japan’s Nikkei is trading 0.3% higher today, getting a boost from a weaker Yen overnight that’s continued into the Asian session. Shares of Softbank are trading 0.7% lower, but Sony is adding 1.6% after reporting solid earnings late yesterday. Among the major exporters Toyota is 0.4% lower, but Panasonic is adding 1.9% and Canon is edging slightly lower by 0.1%. In Australia the S&P/ASX 200 is basically unchanged with a slight gain of less than 0.1%. Shares of the big four banks are mostly higher, with NAB adding 0.3%, Commonwealth Bank gaining 0.4%, Westpac inching up less than 0.1%, while ANZ is underperforming with a slight loss of less than 0.1%. The major miners are weighing on the broader index however, as BHP is trading 1.1% lower and Rio Tinto is losing 0.2%. In mainland China the benchmark Shanghai Composite has opened to a 0.5% loss, and the smaller cap Shenzhen Composite is leading losses for the region as it’s fallen 0.6%. In Hong Kong the Hang Seng  is slightly lower by 0.1%. South Korea’s Kospi is edging higher by less than 0.1%, and Taiwan’s Taiex is equally little changed, but with a slight loss of less than 0.1%. Southeast Asian markets are mixed as Malaysia’s KLCI is leading gains for the region with a 0.4% advance, while the Straits Times in Singapore is inching lower by less than 0.1%.
Crude Notches Three Consecutive Losing Sessions
2021-08-04 19:43UTC
After finishing July with a fourth consecutive monthly gain crude has gotten August off to a far different start, with crude prices dropping for three consecutive sessions. By Wednesday crude futures were trading at a two-week low as traders have concerns over demand in the coming months due to several factors. Kicking off the drop in crude prices was Chinese economic data released early Monday. The Caixin Manufacturing Survey in China showed factory activity in the country was at a 17-month low in July. Adding to the negative economic news is the U.S., with several measures of economic growth coming in weaker than expected. China and the U.S. are two of the world’s largest crude consumers, and with both economies apparently slowing traders are worried that demand for crude will also slow in the coming months. Also weighing on demand expectations has been the spread of the delta COVID variant, which threatens to cause another round of global lockdowns and economic mayhem. At the same time the U.S. reported a surprise rise in crude inventory levels on Wednesday. Crude inventories in the U.S. rose by 3.6 million barrels in the past week, despite increased refinery activity. Rising inventory levels are bearish for crude prices. The U.S. benchmark West Texas Intermediate (WTI) crude fell $2.41, or 3.4%, to close at $68.15 a barrel. Meanwhile global benchmark Brent crude lost $2.03 per barrel, or 2.8%, to settle at $70.38 a barrel. It was the lowest close for both contracts since July 20, and the first close below $70 a barrel for WTI crude since the same date.
U.S. Daily Market Review
2021-08-04 12:00UTC
U.S. stocks are into a tumble this morning after the earnings of a major automaker and a private sector jobs report came weaker than the forecasts.The Dow Jones Industrial Average dropped 280 points, or 0.8%. The S&P-500 fell 0.4% while the Nasdaq Composite was flat. General Motors retreated around 7% in early trading, after the car maker came below estimates in Q2. The USD was able to regain some ground from a decline.In fact, the USD index versus the main pairs declined around 0.2% on the report before turning back up. The Institute for Supply Management reported that its non-manufacturing activity index reached to 64.1 last month.
European Daily Market Review
2021-08-04 08:01UTC
European markets soared today amid rising U.S. corporate earnings boosted global sentiment.The German DAX added 0.75%, the French CAC-40 gained 0.56% and the British FTSE-100 inclined 0.43%.The pan-European Stoxx-600 secured 0.5% in early trade, with travel and leisure stocks climbing 1.2% to lead the rising path.London’s FTSE-100 came higher, boosted by greater earnings and heavyweight miners.BMW and Stellantis warned that production and sales will be hampered throughout the remainder of 2021 and beyond.UK homebuilder Taylor Wimpey Plc soared 4.0% as it raised its full-year earnings outlook.German fashion house Hugo Boss advanced 1.3% after it expectations.Swiss drugmaker Roche surged 0.5% after Bloomberg reported that SoftBank has built a $5 billion stake in the company.
Gold Prices Rallied
2021-08-04 07:22UTC
Gold prices rallied this morning during the Asian hours. The falling rate of the USD stimulated the precious markets. However, the yellow metal is into a narrow range as the markets await the latest U.S. jobs data.Now, gold trades at $1814.32, which is a rise of $4.17 or 0.23% from the previous close of 1810.15.The daily trading range is from $1808.81 to 1814.99, while the trading volume is 56.327K.Most traders and investors await the ADP non-farm employment change for July, alongside the Markit composite manufacturing purchasing managers' index (PMI).In other precious metals, silver added 0.4% and platinum surged 0.1%. Palladium edged up 0.2% to $2,652.99.  
Asian Daily Market Review
2021-08-04 02:05UTC
Asian markets are mixed on Wednesday morning despite a record close on Wall Street as investors remain concerned over the spread of COVID cases globally. In Japan the Nikkei is trading 0.3% lower as investors there are also being negatively impacted by a stronger Yen versus the U.S. dollar. Shares of Softbank are trading 0.3% lower, while Sony shares are plunging 3.2% ahead of their earnings report due out after markets close in Japan. Meanwhile among the major exporters gains are being made despite the stronger Yen. Toyota is trading 0.3% higher, Panasonic is modestly lower by 0.2%, and Canon is adding 1.5%. Australia’s S&P/ASX 200 is edging up by 0.1%, with the big four banks mixed. Shares of ANZ and NAB are both trading 0.5% lower, Westpac is falling a more modest 0.2%, and Commonwealth Bank is trading up by 0.5%. The major miners are supporting the broader index however, with BHP adding 1.7% and Rio Tinto advancing 1.3%. Mainland Chinese markets are trading nearly flat today, with the benchmark Shanghai Composite and the smaller cap Shenzhen Composite each edging up by less than 0.1%. Meanwhile over in Hong Kong the Hang Seng is ignoring the small mainland gains and trades 0.4% lower. South Korea’s Kospi is 0.3% higher to lead gains for the region, and in Taiwan the Taiex is adding a slight 0.1%. Southeast Asian markets are mixed today, with the Straits Times Index in Singapore climbing 0.2% higher, while Malaysia’s KLCI is leading losses for the region with a drop of 0.6%, and in Indonesia the Jakarta Composite is flat at the open.
Robinhood Shares Finally Come To Life
2021-08-03 23:21UTC
Robinhood went public last Thursday at $38 a share and investors were seemingly underwhelmed as the stock fell 8% on its first day of trading and continued to trade below its IPO price in the following sessions. That all changed yesterday however, as shares of the Menlo Park, CA online broker surged higher by 24% in a single session. With Robinhood selling 25% of its IPO shares to its own customers it’s been suggested that the initial days for the stock were primarily dominated by short-term traders cashing in on their shares, while Tuesday was more indicative of long-term investors beginning to accumulate shares. Tuesday saw the stock as one of the top traded equities at Fidelity, and also one of the most mentioned stocks on the Reddit board WallStreetBets. That’s the same Reddit board that’s been responsible for the meme stock craze that sent shares of Game Stop and AMC Theaters surging higher earlier this year. Robinhood bulls love the stock for its immense growth potential. The platform, which allows trading in equities, cryptocurrencies, and options, has grown from 7.2 million clients in 2020 to over 18 million clients as of March 2021. The company estimates the current number of accounts at 22.5 million. Robinhood could become increasingly powerful in the space if it decides to branch out into other financial services products, such as credit cards. It’s also possible the company could acquire another fintech firm to expand more into the payments space. Prior to the IPO Atlantic Equities gave the firm a 12-month price target of $65 a share, indicating roughly 40% upside from Tuesday’s close.
The USD Into A Dropping Pattern
2021-08-03 11:46UTC
The USD into a falling side, with most investors and traders not willing to bet on strong positions ahead of the release of key U.S. employment data towards the end of the week.Presently, the USD versus the Euro trades at 0.841, which is another loss of $0.0010 or 0.12% from the previous close of 0.8421. The daily trading range is from 0.8408 to 0.8423.The Dollar Index, only minorly dropped at 92.028.Moreover, the USD has tumbled since Federal Reserve Chairman Jerome Powell indicated last week that interest rate increases were still a long way away.The market is now focused on Friday’s official jobs report which will provide some indications of how sustained the U.S. recovery has been in July. Inflation is could rally to an annual 18.6% in July, a surge from 17.5% in June. 
U.S. Daily Market Review
2021-08-03 11:45UTC
U.S. stocks gained some ground and the S&P 500 set a new record high. In fact, the S&P-500 index closed at record high on Tuesday on gains in Apple and healthcare stocks.Nasdaq Composite secured around 0.6% to settle at 14,761.29. PepsiCo Inc. is about to sell the Tropicana orange juice brand to a private-equity firm, called PAI Partners. PepsiCo will receive pretax proceeds of $3.3 billion and retain a 39% stake in the new joint venture in a deal valued at roughly $4.5 billion.The 10-year Treasury yield are into a solid path after dropping back to near five-month lows yesterday.Apple Inc advanced after falling last week. Other leaders such as Netflix Inc, Tesla Inc and Facebook Inc continued to tumble some territory.
European Daily Market Review
2021-08-03 10:16UTC
European stocks only partly moved today as global markets searched for direction amid after increasing Covid-19 cases.The pan-European Stoxx-600 moved around around the same marks in early trade, with oil and gas stocks jumping 1%.Second-quarter earnings have been into a solid path with 66% of the more than half of the STOXX 600 companies that have reported coming above initial forecasts.The German DAX added 0.13%, the French CAC-40 gained 0.87% and the British FTSE-100 inclined 0.50%.Giants such as BP, Standard Chartered, BMW and Societe Generale will be reporting their results. Turkish inflation data advanced to 18.95% in July, more than initial estimates.Higher inflation numbers boosted the Turkish lira to seven-week peak.The GBP appreciated earlier today, stimulated helped by recent falls in COVID-19 infections in the country. The sterling against the euro, it was also 0.2% higher at 0.85365.
Crude Oil Prices Tumbled
2021-08-03 06:48UTC
Oil prices are into a retreat this  morning during the Asian hours, as COVID-19 worries over the new wave are affecting the markets alongside slowing manufacturing activity in the U.S. Now, oil trades at $71.068, which is a decline of $0.404 or 0.57% from the previous close of 71.472.The daily trading range is from 70.958 to 71.701, while the trading volume is 9.741K.China, the world’s largest oil importer, is having hard time to curb its latest COVID-19 development.Moreover, the U.S. manufacturing purchasing managers index (PMI) was 63.4 in July, while the Institute of Supply Management (ISM) manufacturing PMI was 59.5. On the supply side, the Organization of the Petroleum Exporting Countries and allies (OPEC+) implemented its plan to boost their supply by 400,000 barrels a day each month starting from August. OPEC members Saudi Arabia, Kuwait and the United Arab Emirates, boosted crude shipments to multi-month highs in July.U.S. crude oil supply data from the American Petroleum Institute, is coming later today.
Asian Daily Market Review
2021-08-03 02:11UTC
Asian markets are trading broadly lower on Tuesday morning following a mixed session on Wall Street. There’s some negative sentiment in response to the weaker than expected Chinese manufacturing data released yesterday, and some caution as traders are anticipating the U.S. jobs figures out later this week. In Japan the Nikkei is down 0.9%, leading losses for the region as the Yen is stronger versus the U.S. dollar today. Shares of Softbank are 0.8% lower, while Sony is losing 1.2% ahead of its second quarter earnings due tomorrow. Among the major exporters Toyota is edging 0.1% higher, while Panasonic is down 0.7%, and Canon is adding 1%. Australia’s S&P/ASX 200 is trading 0.2% lower, with the big four banks contributing to the broader market weakness. Shares of ANZ are trading down 0.4%, NAB is falling 0.8%, Commonwealth bank is inching lower by 0.1%, and Westpac is losing 0.8%. The major miners are also contributing to market weakness as BHP trades 1.5% lower and Rio Tinto is dropping 0.9%. In mainland China markets have also opened to weakness, with the benchmark Shanghai Composite losing 0.6%, while the smaller cap Shenzhen Composite falls 0.4%. Over in Hong Kong the Hang Seng is even weaker, dropping 0.9% in early trade. South Korea’s Kospi is edging down by less than 0.1%, while the Taiex in Taiwan is looking to buck the falling trend across the region as it creeps higher by less than 0.1%. Southeast Asian markets are mixed as the Straits Times in Singapore falls 0.6%, the Jakarta Composite in Indonesia adds 0.3%, and the KLCI in Malaysia is flat and unchanged.
Disney Earnings And More August Excitement
2021-08-02 20:26UTC
Disney will report on its second quarter earnings after markets close on Thursday August 12, but earnings isn’t the only exciting development in August at the House of Mouse. Other developments include the release of Cruella on Disney+ before the end of the month, and the Halloween event at Disney parks. The Disney Boo Bash kicks off on August 10, even before earnings. While it’s true that this is a Halloween event, Disney decided to get started early this year so that as many guests as possible would be able to enjoy the festivities. The event replaces the Not-so-Scary Halloween Party, and Disney is charging more for the event this year, gambling that demand will be strong for Disney-style festivities. Watch out for potential park closures however, as Florida is now facing a record number of COVID-19 cases and hospitalizations. Just last week Disney reinstituted mask requirements, and if things continue to deteriorate park closures are not out of the question. Then on August 12 Disney will release second quarter financial results, with analysts expecting a 43% year-over-year increase in revenue. While the bottom line results will be interesting, investors will likely be just as focused on other metrics such as park attendance and Disney+ subscriber growth. Finally, Disney fans will get access to Cruella on Disney+ on August 27. Since many people failed to see the film in theaters when it was released over the Memorial Day weekend this could be a big deal for Disney+. Disney shares need help as they’ve been slowing sinking since March and are now 3.1% lower since the start of 2021.
U.S. Daily Market Review
2021-08-02 12:16UTC
U.S. stocks are into a rising path as the market is focused on the first trading day of August.The Dow Jones Industrial Average inclined 179 points, or about 0.5%.The S&P-500 secured 0.6% and Nasdaq Composite added 0.5%. Shares of Carnival Corp. soared almost 2% in early trading. Leading banks such as Morgan Stanley and Bank of America are into a higher side.U.S. manufacturing are still into a gaining mode in July.A reading above 50 implied in a surge in manufacturing, which accounts for 11.9% of the U.S. economy. General Electric Co. shares will begin trading Monday at a reverse split-adjusted price of $103.60. General Electric last week reported earnings and revenue that came above initial forecasts.Bank of America Corp jumped between 0.6% and 1.2%, tracking a slight uptick in the benchmark 10-year Treasury yield.
European Daily Market Review
2021-08-02 07:32UTC
European stocks partly inclined today, being into a rising path, following the global sentiment.The German DAX added 0.92%, the French CAC-40 gained 0.91% and the British FTSE-100 inclined 0.99%.Automakers’ lobby CCFA-PFA announced that the global semiconductor shortage and surging infections are hindering rebound prospects for the French auto market. German retail sales advanced more than the forecasts in June following an easing of COVID-19 restrictions.The Federal Statistics Office reported that retail sales surged 4.2% on the month in real terms after an upwardly revised rally of 4.6% in May. Euro zone government bond yields jumped in early trading on Monday as optimism about more fiscal stimulus in the United States.Germany’s 10-year government bond yield slipped 25 basis points in July, the largest monthly loss since January 2020.
Gold Prices Fell
2021-08-02 06:12UTC
AGold prices retreated this morning during the Asian hours.This comes as the USD moves around one-month low. Now, the yellow metal trades at $1807.76, which is a loss of $5.87 or 0.32% from the previous close of $1813.63. The daily trading range is from $1807.38 to 1816.80, while the trading volume is 97.402K.The USD in general is into a reverse relationship the precious metals. The greenback fell 0.8% during the previous week.The U.S. jobs report for July, including non-farm payrolls, will be released on Friday.The Reserve Bank of Australia and Bank of England will report this week on Tuesday and Thursday.Meanwhile, silver was flat at $25.46, palladium rallied 0.5% and platinum gained 0.9%.
Asian Daily Market Review
2021-08-02 01:58UTC
Asian markets are trading broadly higher to start the week on Monday morning, as investors across the region are awaiting the release of the Caixin Manufacturing PMI data later this morning. Over the weekend the official Chinese reading on manufacturing PMI showed a slowdown to 50.4 versus the 50.9 expected. A reading over 50 still indicates expansion, but the results may have been impacted by the rising number of COVID-19 delta variant cases around Asia. Japan’s Nikkei is trading 1.7% higher to lead gains in the region as the Yen is retreating versus the U.S. dollar to start the week. Shares of Softbank are trading 2% higher to erase some of last week’s losses, and Sony has a 0.4% gain. Among the major exporters Toyota are 1.5% higher, while Panasonic and Canon are surging higher, with advances of 3% and 3.3% respectively. In Australia the S&P/ASX 200 is gaining 1.3% as the big four banks are rallying. Shares of ANZ are 1.2% higher, NAB is adding 2.1%, Commonwealth Bank is 1.7% higher, and Westpac is advancing 1.6%. Among the major miners BHP and Rio Tinto are 0.4% lower each in response to the weaker than expected Chinese manufacturing data. In mainland China markets have opened to losses, with the benchmark Shanghai Composite trading 0.5% lower, and the smaller cap Shenzhen Composite falling 0.2%. Meanwhile in Hong Kong the Hang Seng has a modest 0.2% gain. South Korea’s Kospi is adding 0.4%, and Taiwan’s Taiex is matching that with its own 0.4% gain. Southeast Asian markets are mixed however, with Malaysia’s KLCI advancing 0.2%, but Singapore’s Straits Times Index falling 0.3%.
Uber Suffering China's Tech Crackdown
2021-07-30 23:01UTC
Uber has been under pressure since the start of the pandemic as people have avoided ride sharing in general. Even as the pandemic was waning the company struggled to find drivers, and now the delta variant of COVID threatens Uber’s business once again. And at the same time the company is getting hammered lower due to Chinese authorities crackdown on the tech sector. No, Uber doesn’t operate in China, however they do own a substantial amount of shares in the Chinese ride-hailing service Didi. That company has been under fire from Chinese authorities over its June 30 listing on U.S. exchanges. Didi shares are down some 40% since its June 30 IPO, which has led to a loss of $2 billion for Uber. It gets worse for Uber though. Softbank in Japan is also heavily invested in Didi and is looking at a loss of $4 billion. To offset that loss Softbank said it will sell roughly one-third of its Uber holdings, which is 45 million shares. While that may be a small fraction of the nearly 1.9 billion Uber shares outstanding, it was also enough to spark a selloff in Uber shares. Over the past two sessions Uber shares have lost nearly 8%, and since the start of 2021 shares are down nearly 15%. As mentioned earlier, Uber’s business model is particularly vulnerable to the COVID-19 pandemic, and the rise of a new variant wave is not helping matters in the slightest. Just last week Uber shares looked like they might make some gains after announcing the acquisition of shipping software company Transplace from TPG Capital for around $2.25 billion.
U.S. Daily Market Review
2021-07-30 13:22UTC
The major U.S. markets are in red following a retreat quarterly earnings report from Amazon.com, while data showing a solid rally in June consumer spending.Dow Jones Industrial Average futures slipped 80 points. The Nasdaq-100 futures dropped 1.2% amid a soft earnings report from Amazon.Amazon tumbled 6.4% in premarket trading after it reported its first quarterly revenue coming weaker than expected of the last three years.Data on Friday showed U.S. consumer spending advanced more than estimates in June.U.S. labor costs jumped largely in the second quarter as companies raised wages and benefits competing for workers.The Employment Cost Index gained 0.7% last quarter after inclining 0.9% in the January-March period, as reported by the Labor Department.
European Daily Market Review
2021-07-30 09:55UTC
European stocks are into a red zone today after closing the previous session at all-time highs.The German DAX fell 0.97%, the French CAC-40 dropped 0.34% and the British FTSE-100 declined 0.98%.The pan-European Stoxx-600 index lost 0.7% in early deals, with mining stocks shedding 2.3% to lead the falling path.Back in Europe, earnings continued to take center stage with BNP Paribas, Renault, Air France-KLM and IAG are due later today.BNP Paribas announced a growth of 26% in net profit for the second quarter to 2.9 billion euros ($3.44 billion).Portugal’s economy rallied almost 5% in the second quarter from the preceding three months.GDP jumped 15.5% between April and June versus last year, when the country implemented the first major lockdown, impacting all industries, according to INE.
Crude Oil Prices Retreated
2021-07-30 07:15UTC
Oil prices tumbled this morning during the Asian hours.Demand moved to a higher rate than supply, while vaccination rates dampened the impact of a resurgence of another wave of COVID-19.Now, oil trades at $73.280, which is a loss of $0.109 or 0.15% from the previous close of 73.389.The daily trading range is from 72.920 to 73.470, while the trading volume is 10.951K.Both Brent and WTI futures surged around 2% on weekly basis. In fact, both the American Petroleum Institute and the U.S. Energy Information Administration reported a draw in U.S. crude oil supplies.However, many analysts suggested that rising COVID-19 vaccination rates could limit the need for harsh restrictive measures from the new variant of the virus.The Organization of the Petroleum Exporting Countries and allies (OPEC+) are expected to boost monthly supplies by 400,000 barrels a day beginning in August.
Asian Daily Market Review
2021-07-30 02:54UTC
Asian markets are trading mostly lower Friday morning as traders weigh Amazon’s earnings miss overnight as some worry it could be a signal of slowing consumer spending in the second half of 2021. Also causing worries again is the potential for more tech losses in the face of China’s regulatory crackdown on the sector. Japan’s Nikkei is falling 1.4% and leading losses for the region as the Yen has strengthened against the U.S. dollar overnight. Shares of Softbank are trading 1.9% lower, and Sony has a loss of 1.4%. Among the major exporters Toyota is edging lower by just 0.1%, but Panasonic shares are tumbling 2.7%, and Canon is bucking the falling trend with a gain of 0.3%. Australia is bucking the falling trend across the region, but not by much as the S&P/ASX 200 is inching up by less than 0.1%. The big four banks are helping to support the broader index as ANZ trades 0.3% higher, NAB is adding 0.7%, Commonwealth Bank advances 0.4%, and Westpac is gaining 0.5% higher. The major miners are also supporting the broader market as BHP and Rio Tinto each trade 1.8% higher. Mainland Chinese markets are slumping at the open, with the benchmark Shanghai Composite falling 0.5% and the smaller cap Shenzhen Composite losing 0.6%. Meanwhile in Hong Kong the Hang Seng is trading 0.9% lower. In South Korea the Kospi is losing 0.8%, and Taiwan’s Taiex has a modest 0.3% loss. Southeast Asian markets are mixed as the KLCI in Malaysia falls 0.3%, but the Jakarta Composite in Indonesia is 0.3% higher, and Singapore’s Straits Times is edging up by less than 0.1%.
The USD Into A Retreat
2021-07-29 14:42UTC
The USD slipped to a one-month low on Thursday, just a day after the U.S. Federal Reserve's reassurance that interest rate hikes remain distant for now.The Euro versus the greenback trades  at 1.1887, which is a gain of 0.00428 or 0.36% from the previous close of 1.18427.The daily trading range is from 1.1838 to 1.1889, while the trading volume is 122.492K.The USD index fell 0.3%.The USD index soared 1.6% since the Fed's June meeting.Gross domestic product advanced a 6.5% annualised rate last quarter, according to the Commerce Department.U.S. Treasury yields trended lower after Wednesday's Fed statement.The USD's weaker pattern and a fall in coronavirus cases in Britain, boosted the GBP to its highest level of the last month.
U.S. Daily Market Review
2021-07-29 11:11UTC
U.S. stocks markets advanced to peak values as most traders and investors are having hard time in regards to economic indicators.The Dow Jones Industrial Average secured 150 points to mark an intraday record. The S&P-500 added 0.4%, also reaching a fresh high. The Nasdaq Composite slipped  0.2%.PayPal and Facebook 5% and 3%, accordingly.Share prices of Ford soared around 4% after it raised its 2021 outlook.Contracts to purchase previously owned U.S. homes sunk in June.The National Association of Realtors (NAR) reported that its Pending Home Sales Index, based on contracts signed last month, tumbled almost 2% to 112.8.The USD slipped to a one-month bottom today just a day after the U.S. Federal Reserve’s reassurance that interest rate hikes are still not likely.The USD index declined 0.3% to 92.005, its weakest mark since June 29.
European Daily Market Review
2021-07-29 08:41UTC
European stocks soared today as the market is focused on a fresh round of major corporate earnings.The German DAX added 0.09%, the French CAC-40 inclined 0.69% and the British FTSE-100 surged 0.59%.The pan-European Stoxx-600 secured 0.3% in early trade, with oil and gas stocks jumping 1.8% after solid earnings from energy majors.British mortgage lending surged by a record amount in June as home-buyers rushed to take advantage of a tax break.The GBP advanced to its peak in over a month versus the USD.The sterling has soared for five consecutive sessions.German unemployment sunk in July as companies hired more staff in light of a recovery in Europe’s largest economy, official figures showed on Thursday.The Labour Office reported that the number of people out of work fell by 91,000 in seasonally adjusted terms to 2.598 million. Euro zone bond yields preserved around bottoms as a dovish tone from the U.S. Federal Reserve.Germany’s 10-year yield tumbled to its weakest level since February retreated 0.458%.
Gold Prices Rallied
2021-07-29 07:51UTC
Gold advanced today during the Asian hours to its peak mark of the last week.Now, gold trades at $1816.82, which is another rise of $10.79 or 0.60% from the previous close of 1806.03. The daily trading range is from $1805.88 to 1819.70, while the trading volume is 106.837K.Gold Futures rose 0.81% to $1,814.20 by 12:16 AM ET (4:16 AM GMT).The USD in general moves inversely to gold, retreated after sinking a two-week bottom.The Fed handed down its decision on Wednesday, with asset tapering making it onto the agenda of the two-day Federal Open Market Committee meeting.However, Fed Chairman Jerome Powell alarmed that the U.S. job market still had “some ground to cover.The Reserve Bank of Australia (RBA) could follow asset tapering as it hands down its policy decision in the following week. In other precious metals, silver soared 0.9%.
Asian Daily Market Review
2021-07-29 02:00UTC
Asian markets are making good gains on Thursday morning after receiving reassurances from the U.S. Federal Reserve that tapering is still some way off, as the central bank still sees the need for more recovery from the U.S. economy. Chinese markets are also making headway as it appears the Chinese government could provide support to halt the rout in equity markets there. Japan’s Nikkei is 0.6% higher as the Yen is holding steady versus the U.S. dollar. Shares of Softbank are 2.6% higher and Sony is rallying 3.1% higher ahead of its earnings report next week. Among the major exporters Toyota is modestly higher by 0.3%, while Panasonic is adding 0.6%, and Canon is falling 2.2% in opposition to the uptrend in the broader market. In Australia the S&P/ASX 200 is adding 0.4% despite weakness from the big four banks. Shares of ANZ are edging lower by less than 0.1%, NAB has a 0.5% loss, and both Commonwealth Bank and Westpac are modestly lower by 0.2%. Meanwhile the major miners are providing strong support as BHP rises 1.8% and Rio Tinto advances 2.7%. In mainland China markets are strongly higher at the open, with the benchmark Shanghai Composite adding 1.1% and the smaller cap Shenzhen Composite rallying 1.9% higher. In Hong Kong the Hang Seng is leading gains for the region as it rises 2%. South Korea’s Kospi is edging up by less than 0.1%, while the Taiex in Taiwan adds 0.5%. Southeast Asian markets are mixed however, with Singapore’s Straits Times up 0.5%, while the KLCI in Malaysia is inching lower by less than 0.1%.
Robinhood IPO Hits Wall Street Thursday
2021-07-28 23:20UTC
Robinhood shares will hit Wall Street tomorrow in one of the most highly anticipated IPO’s of the year. The stock trading app has been in the spotlight a number of times over the past year for its role in the trading of meme stocks, so investors are hoping it won’t become one itself. Shares will trade under the symbol HOOD and are expected to be priced from $38-42 a share. If the stock opened at the top end of that range Robinhood would have a fully diluted market cap of $35 billion. Compare that with Coinbase, which went public in April and has a fully diluted market cap of $65 billion. Both Robinhood and Coinbase are two of the favorite places for newer investors to buy cryptocurrencies. Robinhood is extremely popular among young investors due to its mission to democratize investing, which has resonated strongly in the under-30 crowd. As retail stock and cryptocurrency trading has exploded in recent years, so too has Robinhood seen its own growth explode. Currently the company estimates that it had 22.5 million clients with a combined $100 billion in assets in the second quarter of 2021. That’s up from 18 million clients and $80 billion in assets in the first quarter of 2021. Incredibly, Robinhood has grown to become the third largest broker, behind Fidelity (36.4 million accounts) and Charles Schwab (31.9 million accounts). It is also well ahead of eTrade (7.2 million). It has been able to grow so rapidly by being the pioneer of free trading, and was the catalyst for the entire brokerage industry to drop commissions back in 2019.
U.S. Daily Market Review
2021-07-28 16:36UTC
The S&P-500 only partly moved today as the market is focused on a slew of corporate results while expecting the Federal Reserve. Nasdaq Composite added 0.7%. The Dow Jones Industrial Average fell 80 points. Boeing shares advanced around 5% after the manufacturer posted its first profit since the third quarter of 2019. Pfizer shares soared 2% after the company announced greater than expected results  and raised its 2021 sales forecast for the Covid vaccine.The USD index rallied around 0.09%, and the common  currency was 0.07% at $1.1806. The yield on 10-year Treasury notes inclined 2.5 basis points to 1.259%, and the yield on 10-year Treasury Inflation-Protected Securities stood at declined 1.104%.
European Daily Market Review
2021-07-28 07:56UTC
European stocks are into a steady path amid higher earnings data from some of Europe’s biggest banks and companies added to the investor sentiment.The German DAX added 0.24%, the French CAC-40 soared 0.73% and the British FTSE-100 inclined 0.25%.The pan-European STOXX-600 secured 0.1% by 0716 GMT.Wizz Air rallied 4.4% after it forecast capacity to ramp up to between 90% and 100% of pre-pandemic levels in July and August.British bank Barclays advanced over 4%, after first-half profit nearly quadrupled. British house prices soared 10.5% in July compared with the same month last year, sinking to a weaker mark from June’s leap of 13.4%.In monthly terms, house prices dropped 0.5% from June, according to the Nationwide.
Crude Oil Prices Advanced
2021-07-28 07:07UTC
Oil prices rallied this morning during the Asian hours, boosted by a draw in U.S. crude supplies.However, jumping numbers of COVID-19 cases globally created in a negative pressure on oil prices.Now, oil trades at $71.901, which is a rise of $0.025 or 0.03% from the previous close of 71.876. The daily trading range is from 71.797 to 72.211, while the trading volume is 10.765K.Brent oil futures gained 0.65% to $74 by 11:26 PM ET (3:26 AM GMT) after shedding 2 cents during the previous session.U.S. crude oil supply data reported from the American Petroleum Institute indicated in a draw of 4.728 million barrels for the previous week.The numbers from the U.S. Energy Information Administration (EIA) is due later today.
Daily Asian Market Review
2021-07-28 02:39UTC
Asian markets are following the overnight losses on Wall Street, where indices fell off their record highs, and large cap technology earnings were met with muted sentiment. Also weighing on the markets are investor worries over how far Chinese regulators might go to keep Chinese tech companies in check. Japan’s Nikkei has dropped 1.3% heading into the lunch break, with a stronger Yen holding back the Japanese exporters. Shares of Softbank are plunging 3.7% lower, but Sony is bucking the falling trend with a 0.6% advance. Among the major exporters Toyota is 0.6% lower, Panasonic is down 0.3%, and Canon shares have fallen 1.4%. In Australia the S&P/ASX 200 has a loss of 0.6% late in the afternoon in Sydney as the big four banks track the losses for the broader index. Shares of ANZ are trading 0.6% lower, NAB has a loss of 0.4%, Westpac is also falling 0.4%, and Commonwealth Bank is outpacing the losers with a drop of 1.2%. Meanwhile the major miners are also contributing to losses, with BHP down 1.6%, and Rio Tinto dropping 0.8%. Mainland Chinese markets are on the way lower as the benchmark Shanghai Composite is trading 0.7% lower, while the smaller cap Shenzhen Composite has a 0.4% loss. Meanwhile the Hang Seng in Hong Kong is bucking the losing trend across the region with a surprising gain of 0.5%. South Korea’s Kospi is edging lower by 0.1%, and in Taiwan the Taiex is leading losses for the region as it falls 1.4%. Southeast Asian markets are alos lower, with the Straits Times in Singapore and KLCI in Malaysia both losing 0.2%.
Is Amazon Planning A Stock Split?
2021-07-27 22:22UTC
With Amazon on the verge of reporting its second quarter earnings there have been some suggestions that the time may be right for the ecommerce giant to announce a stock split. There have been several compelling reasons given for such a move. For one thing, most companies do announce stock splits during their earnings calls. If Amazon is planning a split now would be the optimal time to announce that. With shares of Amazon near a record high at just above $3,600, Amazon is the second most valuable stock in the S&P 500. Some analysts believe that this means the company, which hasn’t split its stock since 1999, is ripe for a split. In addition, with Jeff Bezos making an exit and Andy Jassy coming in as the new CEO it could be a good move for Jassy to start his tenure as CEO with an impressive move like a stock split. It would certainly set the tone, and could help in his vision for the future of the company. It’s also worth noting that Amazon may have designs on joining the venerable Dow Jones Industrial Average. It can’t do this with its current high stock price, due to the price weighted nature of the DJIA. A stock split would make Amazon eminently eligible to join the hallowed ranks of legendary DJIA members. There have been several recent notable stock splits in the tech sector, including Apple last August, and Nvidia last week. In both cases shares rallied strongly ahead of the stock split, and maybe Amazon hopes to see such a dynamic following their own announcement of a stock split.
Asian Daily Market Review
2021-07-27 01:57UTC
Asian markets are moving higher on Tuesday morning following another record close overnight on Wall Street. More solid corporate earnings helped push U.S. indices higher, with the S&P 500 just edging to a new record close by less than 0.1%. In Japan the Nikkei is trading 0.5% higher, adding to gains from the prior session even as the Yen continues edging higher versus the U.S. dollar, putting pressure on Japan’s export sector. Shares of Softbank are falling for a second consecutive session, losing 0.9%, while shares of Sony are rising for a second consecutive session to add 0.6%. Among the major exporters Toyota is adding 0.3%, Panasonic shares are flat, and Canon has a 0.4% gain. Australia’s S&P/ASX 200 is 0.3% higher, with the big four banks mixed today. Shares of ANZ are slightly higher by 0.1%, and Commonwealth Bank is adding 0.7%, but NAB is trading 0.3% lower and Westpac is edging lower by less than 0.1%. The major miners are helping to lift the broader index for a second session in a row, with BHP gaining 2.5%, while Rio Tinto advances 1.5%, and Fortescue Metals trades 1.2% higher. In mainland China markets have opened higher today after a sharp loss in the prior session. The benchmark Shanghai Composite is trading 0.3% higher, and the smaller cap Shenzhen Composite has a 0.5% advance. Meanwhile Hong Kong’s Hang Seng is modestly higher by 0.2%. South Korea’s Kospi is adding 0.5% today, but in Taiwan the Taiex is inching lower by less than 0.1%. Southeast Asian markets are higher today, with the Straits Times in Singapore and the KLCI in Malaysia each gaining 0.3%.
Alphabet Set To Deliver Second Quarter Earnings
2021-07-26 20:06UTC
The FAANG stocks are considered the cream of the crop when it comes to technology, and in 2021 search giant Alphabet has been the top performing FAANG stock by far. Shares are up nearly 60% since the start of the year, and finished Monday at a new record higher. With second quarter earnings due on Tuesday will this rally in Alphabet be extended, or is it possible the company could disappoint investors, kicking off profit taking and a slide in shares? The outperformance in the stock has been driven by strong earnings, with Google beating analyst expectations significantly in each of the past four quarters. In this quarter Alphabet is expected to deliver an impressive $90.17 per share, which would represent an increase of 53.9% over the same quarter last year. Alphabet receives a majority of its revenue from online advertising, which has seen a strong rebound in 2021 as advertisers try to take advantage of consumer spending trends and the end of global lockdown measures. In addition, Alphabet is also a leader in the cloud computing space, and the 46% increase in cloud computing revenues in the first quarter indicates the firm is not only growing, but is also taking market share. Advertising revenue growth is expected to continue in the second quarter, which will help revenues continue to grow. The cloud computing platform is also expected to see continued growth as companies are still transitioning increasingly to cloud based solutions. If Alphabet is able to meet expectations there’s no reason to think that the rally will continue, however an earnings miss could be the start of a serious slide in shares.
U.S. Daily Market Review
2021-07-26 13:27UTC
The major stock futures lost some ground this morning ahead of a busy week of earnings reports.Giants such as Alphabet Inc, Apple Inc and Microsoft Corp, are about to announce their earnings later this week.Dow Jones Industrial Average futures fell 86 points after dropping by more than 200 earlier.S&P-500 and Nasdaq 100 futures also both traded in negative territory.The Dow Jones Industrial Average tumbled 5.69 points, or 0.02%, at the open to 35,055.86.Sales of new single-family homes last month retreated 6.5% to a seasonally adjusted annual rate of 676,000, as reported by the U.S. Census Bureau and Department of Housing and Urban Development. New home sales, which account for about 10% of the housing market, have declined every month in 2021.
European Daily Market Review
2021-07-26 13:00UTC
European stocks are still without a clear market direction today, tracking lackluster global mood as the markets are focused on the corporate earnings results.The German DAX slipped 0.38%, the French CAC-40 lost 0.02% and the British FTSE-100 fell 0.08%.The pan-European Stoxx-600 recouped some of its earlier losses to trade 0.1% lower by mid-afternoon, with basic resources jumping 2.1% while health care stocks fell 1.4%.Ryanair this morning raised its estimates for full-year traffic on strong summer bookings, according to the Group Chief Executive Michael O’Leary.Today the companies of Michelin, Faurecia, and Philips are all dure their reports.
Gold Prices Rallied
2021-07-26 06:24UTC
Gold prices advanced this morning during the Asian hours.Moreover, the USD stands firm looking ahead to the U.S. Federal Reserve’s policy decision. In general, the greenback is into a negative relationship to the precious metals.Now, gold trades at $1805.58, which is a rise of $3.62 or 0.20% from the previous close of $1801.96. The daily trading range is from $1798.26 to 1809.14, while the trading volume is 80.764K.The FOMC could mark a few changes to the Fed monetary policy during tomorrow’s meeting.On the data front, data from the U.S., released on Friday announced the manufacturing purchasing managers’ index (PMI) came greater than estimated 63.1.Meanwhile, in Europe, a larger number of countries took on defenses measures versus higher cases of COVID-19 involving the Delta variant.
Asian Daily Market Review
2021-07-26 01:59UTC
Asian markets are mostly struggling on Monday morning following another strong session on Wall Street last Friday. Japan’s Nikkei is bouncing strongly off a seven month low as investors there return from a holiday extended three day weekend, but other indices are seeing problems as investor funds continue flowing into the U.S., where markets continue reaching new record heights on strong corporate earnings and an impressive recovery in the U.S. economy. In Japan the Nikkei is trading 1.6% higher despite the Yen edging slightly higher versus the U.S. dollar. Shares of Softbank are slightly higher by 0.1%, while Sony shares are rallying 2.1% higher. Among the major exporters Toyota and Panasonic are each rising 1.2%, and Canon is trading 0.6% higher. Australia’s S&P/ASX 200 is 0.3% higher and gaining strength, despite weakness from the big four banks. Shares of ANZ and NAB are each falling 0.3%, Commonwealth Bank is edging lower by less than 0.1%, and Westpac shares are also 0.3% lower. Meanwhile the major miners are supporting the broader index as BHP and Rio Tinto each add 1.3%. Mainland Chinese markets have opened sharply lower, with the benchmark Shanghai Composite losing 1% while the smaller cap Shenzhen Composite is down 0.8%. Meanwhile over in Hong Kong the hang Seng is leading losses for the region as it is plunging 2.5% at the open. In South Korea the Kospi is retreating 0.3%, and in Taiwan the Taiex is 0.3% higher. Southeast Asian markets are also lower to start the day, with the Straits Times in Singapore retreating 0.3% and the KLCI in Malaysia 0.4% lower.
Tesla's Earnings Only Part Of The Story
2021-07-24 14:33UTC
Investors are looking forward to this coming Monday for a number of huge tech companies second quarter reportings, including one from the leading electric vehicle manufacturer Tesla. The company has already reported second quarter vehicle deliveries, which were at a record-breaking level of 201,250. However shares slumped in response to that number as some analysts were expecting more. Now Tesla has the chance to redeem itself with its quarterly earnings, and related press release information. Whether or not it will do so is another question entirely. Analysts are expecting Tesla to report earnings of $0.96 a share, which would match the previous quarter, but would be more than double the $0.44 a share reported in the same quarter last year. Likewise, revenues are expected to more than double from the same period last year to $11.47 billion. Options traders are currently pricing in a move of 5% in either direction for Tesla shares post-earnings. Any movement in shares is likely to be capped by support at the $570 level or resistance at the $740 level. These are the bottom and top of the range seen in Tesla shares since this past March. In addition, shares are 8.5% lower since the start of 2021, which is quite disappointing when you consider that the S&P 500 is 14% higher since the start of the year. In addition to earnings investors will also have a number of other concerns to focus on. These include the timeline for opening the Berlin and Austin plants, the rising competition in the electric vehicle space, the supply chain and labor shortages, and Tesla’s views on Bitcoin.
U.S. Daily Market Review
2021-07-23 09:12UTC
The leading U.S. indexes rallied, as are trying to mark their fourth straight session of inclines.The Dow Jones Industrial Average added 150 points, or 0.5%. The S&P-500 soared 0.4%. The Nasdaq Composite secured around 0.3%. The S&P-500 is about to close high set on July 12.The 10-year Treasury yield jumped today to 1.3%, easing concerns about the economy.Facebook surged 3% on the results from its social media competitors. Alphabet Google advanced about 1%. American Express announced higher than predicted quarterly results Friday morning, giving a boost to its shares of about 3.5%. After a record high as the company predicted greater forecasts for second-quarter profit.Twitter Inc is 4.9% higher in premarket trading after it reported upbeat revenue incline.
European Daily Market Review
2021-07-23 09:00UTC
European stocks partly inclined today as the market is focused on a weaker a economic growth.The German DAX added 0.06%, while the CAC-40 slipped 0.43% and the  FTSE0100 dropped 0.07%.The pan-European Stoxx-600 advanced 0.5% in early trade, with autos and basic resources adding 1.3% to lead the rising path.Britain’s rapid recovery from the coronavirus pandemic slowed sharply in July as a new wave of cases forced hundreds of thousands of people. Even supermarkets reported that this week that staff shortages were making it hard to operate its business.The GBP depreciated today despite higher-than-predicted retail sales data as investors weighed up the risk of a further rise in COVID-19 cases.Euro zone business activity rallied to a stronger rate in the last 10 years in July as the loosening of more COVID-19 restrictions gave a boost to services.
Crude Oil Prices Advanced
2021-07-23 06:50UTC
Oil prices are still into a rising mode, preserving three session rise to values over $70.Presently, oil trades at $71.599, which is a minor loss of $0.100 or 0.14% from the previous close of 71.699.The daily trading range is from $71.448 to 71.911, while the trading volume is 9.78K.West Texas Intermediate slipped 0.3% during the Asian trading hours after rallying more than 8% in the recent few days.Crude has rallied this year as the rollout of vaccines permits economies started to remove restrictions mode.Moreover, the Organization of Petroleum Exporting Countries and its allies are expected to provide 400,000 additional barrels per day to the market in August and the following quarter.
Asian Daily Market Review
2021-07-23 01:51UTC
Asian markets are steady and little changed Friday morning as investors weigh mixed overnight economic data, rising delta variant cases, and more good corporate earnings. Also playing into markets today are falling U.S. Treasury yields, and more Chinese tech concerns as regulators are considering unprecedented penalties for Didi Corp after its IPO last month. Also, Japanese markets are closed today for a public holiday. In Australia the S&P/ASX 200 is trading flat, with a slight gain of less than 0.1%, with the big four banks trading broadly lower and pressuring the broader market. Shares of ANZ are 0.8% lower, NAB has a 0.5% loss, and both Commonwealth Bank and Westpac are down by 0.7% each. Among the major miners BHP is trading 0.4% lower and Rio Tinto has a 0.7% loss, putting more pressure on the broader index. Mainland Chinese markets have also opened to modest losses, with the benchmark Shanghai Composite losing 0.2% and the smaller cap Shenzhen Composite falling 0.3%. Meanwhile in Hong Kong the Hang Seng is also losing 0.2% in-line with losses on the mainland. Shares of Didi Global fell 11.3% overnight on reports of China considering unprecedented penalties against the tech company, including suspension of certain operations, delisting or withdrawal of Didi’s U.S. shares. There are also rumors of fines in excess of $2.8 billion. In South Korea the Kospi is bucking the losing trend and trading 0.2% higher, while Taiwan’s Taiex also has a gain of 0.4%. Southeast Asian markets are mixed as the Straits Times in Singapore is edging up by 0.1%, but the KLCI in Malaysia is inching lower by less than 0.1%.
Nvidia Shares Continue To Outperform
2021-07-22 20:50UTC
Earlier this week Nvidia shares began trading on a 4:1 split adjusted basis. The split was announced back in May, kicking off a rally in Nvidia shares. Shares have been making solid gains, but fell in the immediate aftermath of the split, losing 1% on July 20. Since then a recovery has been afoot, and shares are once again marching higher, adding 1% yesterday. Since the beginning of 2021 shares are up 50%. While the shortage of semiconductor chips has likely hurt sales to some extent, and the company has warned about troubles in the second half of the year, it’s likely that the pent-up demand for Nvidia processors and hardware will allow the company to continue posting strong financial results. Nvidia processors are used in both gaming and cryptocurrency mining, which definitely helped the company during the pandemic and then during the crypto rally in the first quarter of 2021. The company also serves the data center and artificial intelligence markets, both of which are expected to continue to see strong growth in the second half of 2021 after spending came to a halt in 2020. Both analysts and investors remain very bullish on the stock, as the Nvidia GPUs are seen as the industry standard, and are highly sought after. Continuing pent-up demand due to supply constraints should ensure that Nvidia remains a strong performer in the second half of the year, despite the warnings from management. The most recent highs for the stock were at the $208 level, and with the stock roughly 8% lower now those highs are certainly within reach before Nvidia reports earnings on August 18.
U.S. Daily Market Review
2021-07-22 12:27UTC
U.S. stocks lost some ground amid unexpected surge in jobless claims which resulted in a more cautious investment mode.The Dow Jones Industrial Average dropped 70 points. The S&P-500 slipped 0.1%. The tech-heavy Nasdaq Composite is around the same levels.Second-quarter earnings are likely to secure 75% for S&P 500 companies, according to Refinitiv IBES predictions.Jobless claims unexpectedly advanced to 419,000 last week, more than the 350,000 economists polled by Dow Jones estimated and greater than the upwardly revised 368,000 from the previous period, according to the Labor Department.American Airlines marked a profit for the second-quarter, thanks to the regaining mode of the travel demand and government aid. AT&T Inc (T.N) today boosted raised its full-year financial forecasts as the business is coming from the pandemic.
European Daily Market Review
2021-07-22 08:26UTC
European stocks advanced today, indicating in reflecting positive global momentum.ECB’s policy decision is coming out later today, when it is all but certain to promise an even longer period of stimulus measures to stimulate inflation. The German DAX added 0.84%, the CAC-40 gained 0.63% and the British FTSE-100 lost 0.07%.The pan-European Stoxx-600 inclined 0.7% in early trade, with travel and leisure stocks jumping 2.3% to lead the rising path.The GBP appreciated versus the USD for a second session amid recovering risk sentiment in global markets.Swiss company ABB surged 2.3% to hit its highest level since November 2007 after it doubled its full-year sales outlook.
Gold Prices Retreated
2021-07-22 06:12UTC
Gold price dropped this morning during the Asian hours, which is still around the weakest marks of the week.The rising rate of the USD and higher risk appetite as issues over surging COVID-19 cases abated, both created in a negative pressure on the yellow metal.Presently, gold trades at $1799.22, which is a loss of $3.30 or 0.18% from the previous close of 1802.52.The daily trading range is from 1797.15 to 1803.82, while the trading volume is 85.451.The USD which usually moves inversely to gold, advanced today to just below three-and-a-half-month highs.The market is now focused on the European Central Bank (ECB) policy decision due today.In the meantime, silver slipped 0.1%, palladium gained 0.4%.   
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