UK's FTSE is lower by 1.0%. Financials and select consumer names are among the laggards with RBS, British American Tobacco, Lloyds Banking, Compass, Persimmon, Prudential, Direct Line Insurance, Barclays, and ITV holding losses between 0.8% and 4.0%. France's CAC is down 0.7% amid losses in most components. Financials Societe Generale, BNP Paribas, and Credit Agricole show losses between 1.1% and 1.6% while STMicroelectronics, Kering, TechnipFMC, Airbus, Renault, Danone, and Louis Vuitton are down between 0.6% and 1.9%. Germany's DAX is down 0.7%. Infineon is down 2.5% while Bayer, Adidas, BMW, SAP, BASF, and Daimler hold losses between 0.6% and 2.5%.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
Friday, November 16, 2018
Monday, November 12, 2018
OPEC officials 11/12
Over the weekend, remarks from OPEC officials indicate that they are likely to formally cut output at their next meeting in December. Concerns of no deal being achieved on Brexit are flaring back up, and Prime Minister May is feeling pressure on all sides. Reports are surfacing that satellite images of North Korea, indicate that the country’s nuclear threat has worsened since the Trump-Kim summit. This week’s economic calendar will be weighted towards the end of the week with CPI being released on Wednesday and Jobless Claims, Retail Sales, and Import/Export Prices coming out on Thursday. Earnings continue to roll on with Home Depot (HD) results coming out on Tuesday morning and Walmart (WMT) on Thursday morning. As of this writing, U.S. crude oil futures (/CL) are 1% higher near $60.85 per barrel and S&P 500 futures (/ES) are slightly lower near 2775.
Friday, November 9, 2018
Disney (DIS)
Disney (DIS) – The Mouse beats the house -- The entertainment juggernaut reported earnings of $1.48 per share which was well ahead of the consensus estimate of $1.35 per share. Revenue figures also beat, with the company reporting revenue of $14.3 billion versus estimates of $13.76 billion. The shares are trading 1.5% higher, near $118 in the pre-market.
Thursday, November 8, 2018
Hologic Inc. (HOLX)
Hologic Inc. (HOLX) shares rose in the extended session Wednesday as the medical technology company's earnings fell short of Wall Street estimates but revenue topped them. Hologic shares rose 4.6% after hours, following a 2% gain to close the regular session at $41.26. The company reported fiscal fourth-quarter net income of $50.5 million, or 18 cents a share, compared with $82.7 million, or 29 cents a share, in the year-ago period. Adjusted earnings were 58 cents a share. Revenue rose to $813.5 million from $802.9 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 59 cents a share on revenue of $806.3 million. For the year, Hologic expects earnings of $2.38 to $2.42 a share on revenue of $3.29 billion to $3.34 billion, while analysts had forecast $2.42 a share on revenue of $3.31 billion.
Friday, November 2, 2018
WSJ Dollar Index
The WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, was down 0.2% on Friday.
The British pound, meanwhile, gained 0.2% against the dollar to $1.303, its second session of gains amid hopes for progress in Brexit negotiations.
"The Bank of England's statements on Thursday indicated that a Brexit transition deal with the EU could promise upside to its economic projections and make rate hikes likelier," Daniel Trum, a strategist at UBS, wrote in a note to clients. "Indeed, the U.K. economy would justify them already were it not for the Brexit uncertainty."
News from China also helped lift Asian markets, according to some analysts, after Mr. Xi met with Chinese business leaders this week. He pledged to reduce their tax burdens and offered financial support to private companies, according to the official Xinhua News Agency.
Beyond the trade dispute, some market tensions have eased in recent days following a series of steady earnings announcements and renewed hope that the U.S. economy isn't on the verge of a downturn.
"The economic cycle is OK and the selloff in the equities market has meant the valuations are very reasonable," said William Dinning, head of investment strategy and communication at Waverton Investment Management.
"I don't think we have any sign of a recession in the U.S. -- there may be a bit of a slowdown," he added.
Investors were also positioning ahead of October employment data expected Friday, with many anticipating that the U.S. Federal Reserve will tighten monetary policy more quickly if inflationary pressures build.
A Wall Street Journal survey of economists forecast the Labor Department will report that 188,000 jobs were added over the month, while unemployment held at 3.7%.
Investors were watching the U.S. technology sector in particular after Apple posted mixed results following the closing bell on Thursday.
Geoff Yu, head of the U.K. Investment Office at UBS Wealth Management, said last month's selloff may have been caused by investment in technology groups ramping up particularly steeply in recent months.
The 10-year U.S. Treasury yield drifted up to 3.172%, compared with 3.144% on Thursday. Yields move inversely to prices.
In commodities, Brent crude, the global benchmark, gained 0.3% to $73.14 a barrel. Gold fell 0.1% to $1,237.20 an ounce.
The British pound, meanwhile, gained 0.2% against the dollar to $1.303, its second session of gains amid hopes for progress in Brexit negotiations.
"The Bank of England's statements on Thursday indicated that a Brexit transition deal with the EU could promise upside to its economic projections and make rate hikes likelier," Daniel Trum, a strategist at UBS, wrote in a note to clients. "Indeed, the U.K. economy would justify them already were it not for the Brexit uncertainty."
News from China also helped lift Asian markets, according to some analysts, after Mr. Xi met with Chinese business leaders this week. He pledged to reduce their tax burdens and offered financial support to private companies, according to the official Xinhua News Agency.
Beyond the trade dispute, some market tensions have eased in recent days following a series of steady earnings announcements and renewed hope that the U.S. economy isn't on the verge of a downturn.
"The economic cycle is OK and the selloff in the equities market has meant the valuations are very reasonable," said William Dinning, head of investment strategy and communication at Waverton Investment Management.
"I don't think we have any sign of a recession in the U.S. -- there may be a bit of a slowdown," he added.
Investors were also positioning ahead of October employment data expected Friday, with many anticipating that the U.S. Federal Reserve will tighten monetary policy more quickly if inflationary pressures build.
A Wall Street Journal survey of economists forecast the Labor Department will report that 188,000 jobs were added over the month, while unemployment held at 3.7%.
Investors were watching the U.S. technology sector in particular after Apple posted mixed results following the closing bell on Thursday.
Geoff Yu, head of the U.K. Investment Office at UBS Wealth Management, said last month's selloff may have been caused by investment in technology groups ramping up particularly steeply in recent months.
The 10-year U.S. Treasury yield drifted up to 3.172%, compared with 3.144% on Thursday. Yields move inversely to prices.
In commodities, Brent crude, the global benchmark, gained 0.3% to $73.14 a barrel. Gold fell 0.1% to $1,237.20 an ounce.
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