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Accents from the American session today (21.08.2018)

nyse

Rating:

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These are the American stocks that we will be tracking during today's session:

Apple - The company announced a new, cheaper model of its MacBook line, which will have a 13-inch retina display and the design of MacBook Air. This is the first improvement to the MacBook line in several years. Apple will also update its Mac mini line with a model for professionals.

J.P. Morgan - The bank announced it will offer a new trading platform for its 47 million clients. The trading platform will offer 100 free stock or ETF trades for the first year, as well as no minimum account balance to open.

Microsoft - The company alerted the American government that it has found attempts by Russian hackers to influence the November mid-term elections in the US.

J. M. Smucker - The company announced better earnings but weaker sales. We expect the stock to trade lower due to more pessimistic expectations from management.

Toll Brother - The home-manufacturing company reported better earnings and sales. It sold more homes at a higher average price. This caused it to revise its estimate for average house price for the year, from $835,000 to $860,000.

Tesla - 18 of 22 suppliers of the company said they were concerned about Tesla's finances, according to the WSJ.

BHP Billiton - Despite its good quarterly performance, the mining company said it was pessimistic for the near future due to rising costs and the risk of a trade war.

 

The S&P500 index is extremely close to the January high around 2877-2878. Currently the index trades at 2866. We expect a test of the resistance at 2877 today or tomorrow.

Focus is also on the dollar. According to J. P. Morgan Asset Management the dollar will continue rising. As we described in a post earlier today, we find the current levels of DX, the dollar index, attractive for opening long positions. The trend is not broken yet, and the fundamentals remain more or less unchanged. Supportive of the dollar are expectations from economists for the economy to grow by more than 3% in the second half of 2018. If it does, GDP this year will have grown by the most since 2005.

Sources: CNBC, Bloomberg Finance L.P.

Image: pixabay.com


 Trader Velizar Mitov

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