- Home
- >
- Daily Accents
- >
- Trading day in one post 04.08.2017
Trading day in one post 04.08.2017
Rating:
Loading...Overview of the Asian Markets: All Asian markets managed to turn the negative open and to post gains, with the exception of the Nikkei in Japan. There is again disapproval of Abe's monetary policies and the stimulus program, as there are reports that the program will reach its limits in the middle of next year and still the desired aim of 2% inflation is not achieved in Japan. The market in Australia was lower during most of the time during the session but managed to turn positive. This is on the back of news that Commonwealth bank has breach money laundering laws. Banks share fell -2.88%, and the sub-index fell -0.66%. Nikkei fell by -0.36%. The Australia S&P/ASX 200 fell by -0.27%. Hang Seng up by 0.04%, and the Shanghai Composite gained 0.24%.
Overview of FX market: The USD did stabilized a bit, but this may not last. Additional negative pressure was inserted by the situation in Washington. The data from the NFP is awaited and it may support the USD if data is to come out better than expected. The Euro continue to be strong and working toward the next target of $1.20 but we may see a correction before that. The GBP fell sharply yesterday after the BoE left rates unchanged of 0.25%. The Aussie increased in value after the positive tone from the monetary policy statement overnight. For now the AUD is stronger than NZD. The Canadian currency has been trading lower for the past few sessions but it may change and to strengthen again, supported by the risk sentiment.
Commodities Markets: The price of Oil has risen slightly, after it was down during the American session, but it kept its gains around $48 per barrel. The demand for Oil in the US reached the record 9.84 M barrel per day, during the last week, which is the highest weekly number since June 1990. The prices of the prеcious metals keep their bullish tendency, with Gold trading at $1,267 and Silver at $16.62, even that at the opening during the night the futures of Silver opened by -0.2 pips, but the price managed to recover quickly.
European stock market: The European stock market is expected to open slightly lower today, as the investors and traders are expecting the NFP report and will possibly remain sidelined until then. Also speculators are probably pondering over the BoE's decision to leave rate unchanged at 0.25%, siting concerns of Brexit and inflation risks. The German DAX will open lower around 12,152, French CAC around 5,130, as the British UKX at a level of 7,478. During the previous trading session the European indices were trading higher after the BoE's decision, as the Europe Stoxx 600 closed the day higher 0.08%. There are also other important economic news that traders will be focused on and we expect a volatile trading session.
American Stock Market: American stocks closed slightly lower today, except DJIA, as the index NASDAQ closed with most loss. Dow Jones climbed over 22,00 points and added to it today 10 more points, after the better than expected financial results from Apple. Fundamentally, the economy is well but there are some indicators that can spell slowing growth. Investors are careful as they are expecting the most important news of the week, the NFP/Non-Farm Payrolls report tomorrow, with expectations of 183К and the Unemployment rate will be carefully watched by traders. These numbers are directly tied to the next action that FED will take in regards to the interest rates and normalization of its balance sheet. The turmoil in Washington is still present in regard to the Trump campaign staff and Russia.
DJIA: 9.86 points/ 0.04% - 22,026.10, S&P: -5.41 points/ -0.22% - 2,472.16, NASDAQ: -22.30 points/ -0.35% - 6,340.34, RUSS 2000: -7.92 points/ -0.56% - 1,404.98, VIX: 10.44
For the S&P higher were the Industrial sector and Utilities stocks. Most negative reading was from the Energy sector by -1.34%. For Dow Jones higher were traded Pfizer and GE. Telsa was traded higher by 6.5% for the NASDAQ index, after it reported less than expected loss.
Economic Calendar:
09:00 - Germany - German Factory Orders
11:10 - Euro zone - Retail PMI
15:30 - USA - Average Hourly Earnings
15:30 - USA - Non-Farm Payrolls
15:30 - USA - Trade balance
15:30 - USA - Unemployment rate
15:30 - CAD - Unemployment rate
15:30 - CAD - Trade balance
17:00 - CAD -Ivey PMI
20:00 - USA - U.S. Baker Hughes Oil Rig Count
US Equity Upgrades
AGIOS PHARMACEUTICALS (AGIO) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT LEERINK
BLACK DIAMOND (BDE) UPGRADED TO BUY FROM HOLD AT STIFEL
CRESTWOOD EQUITY (CEQP) UPGRADED TO BUY FROM HOLD AT STIFEL
ILLUMINA (ILMN) UPGRADED TO EQUAL-WEIGHT FROM UNDERWEIGHT AT FIRST ANALYSIS
PFIZER (PFE) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT BMO CAPITAL
RESMED (RMD) UPGRADED TO BUY FROM NEUTRAL AT CITI
ROYAL CARIBBEAN (RCL) UPGRADED TO NEUTRAL FROM SELL AT GOLDMAN SACHS
US Equity Downgrades
ARTISAN PARTNERS (APAM) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT KEEFE BRUYETTE
BIG 5 SPORTING (BGFV) DOWNGRADED TO HOLD FROM BUY AT DEUTSCHE BANK
BURLINGTON STORES (BURL) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT CREDIT SUISSE
GREEN PLAINS PARTNERS (GPP) DOWNGRADED TO UNDERPERFORM FROM BUY AT BOFA/MERRILL
LASALLE HOTEL (LHO) DOWNGRADED TO SELL FROM NEUTRAL AT GOLDMAN SACHS
NEURODERM (NDRM) DOWNGRADED TO NEUTRAL FROM BUY AT ROTH CAPITAL
PEBBLEBROOK HOTEL (PEB) DOWNGRADED TO SELL FROM NEUTRAL AT GOLDMAN SACHS
PIONEER NATURAL (PXD) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT WELLS FARGO
REGULUS (RGLS) DOWNGRADED TO NEUTRAL FROM BUY AT CHARDAN
RESMED (RMD) DOWNGRADED TO NEUTRAL FROM BUY AT BOFA/MERRILL
RESMED (RMD) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT CREDIT SUISSE
TEN LTD. (TNP) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT WELLS FARGO
ULTIMATE SOFTWARE (ULTI) DOWNGRADED TO HOLD FROM BUY AT DEUTSCHE BANK
US Equity Initiations
JABIL CIRCUIT (JBL) INITIATED WITH AN OVERWEIGHT AT JPMORGAN
KOHL'S (KSS) ASSUMED WITH A BUY AT JEFFERIES
PARK CITY GROUP (PCYG) INITIATED WITH A BUY AT LOOP CAPITAL
SEQUANS (SQNS) INITIATED WITH AN OUTPERFORM AT BAIRD
WAL-MART (WMT) INITIATED WITH AN OUTPERFORM AT OPPENHEIMER
Varchev Traders Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
