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- Trading day in one post 08.09.2017
Trading day in one post 08.09.2017
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Loading...Overview of Asian Stock Markets: Asian markets are trading in mixed moods. Japan's Nikkei 225 dropped 0.45%. In Korea, Kospi recorded a decrease of 0.11%. ASX200 is down 0.38%. In China, Hang Seng rose 0.53% and Shanghai Composite gained 0.24%.
Currency market: The yen is rising as investors search for safe-haven instruments to hedge against the the IRMA hurricane who can bring new damage and fears that North Korea can make a new rocket test on Saturday. JPY is currently traded at around $108.16 per dollar. We stay long on the yen. After the euro reached its highest price since 2015 against the dollar EUR remains stable after the comments of ECB President Mario Draghi. The bottom line in his speech was that the euro is strong and that the GDP is rising better than expected in 2017. Currently, EUR / USD is traded at levels of $1.2064 The sentiment to the dollar remains negative due to the remaining tensions with North Korea and the concerns that the hurricane IRMA will bring new major damage. We stay short on USD.
Commodities markets: Gold continues its rise as a result of tensions between the United States and North Korea and the weaker dollar. The concerns of the IRMA hurricane also have a positive impact on GOLD. Currently, precious metal is traded at levels around $1352.93. Oil is on the rise after most of the closed refineries in Texas have resumed their work. Now, WTI crude is traded at levels around $49.18, and Brent Crude at $54.60. Today we are waiting for the Baker Hughes Oil Rig Count data. This has a negative effect on the gas which is trading lower at $1.66 per gallon.
European stock market: European markets ended in positive territory yesterday, following ECB President Mario Draghi's comments. All major European indices ended in a positive territory and are expected to start lower today. In the pre-market trade UKX is 2 points down, DAX with 11 points down, and CAC 3 points down.
US Stock Market: US markets closed down on Thursday. DJIA declined by 22.86 points or 0.1% to $ 21784.78, while the S & P500 dropped 0.02% to $ 2465.10, with the most losses coming from the finance and telecommunications sectors. Nasdaq composite rose 0.07% to $ 6397.87, with Facebook, Amazon and Microsoft trading with an increase. Shares of General Electric dropped by more than 3% after JPMorgan Chase announced that the fundamental for the company was worse than expected
Economic Calendar for European and US Stock Sessions:
08:45 - Switzerland - Unemployment rate
09:00 - Germany - Trade Balance
11:30 - UK - Industrial Production
11:30 - UK - Trade Balance
11:30 - UK - Manufacturing production
11:30 - Australia - RBA Governor Lowe Speaks
15:30 - Canada - Employment change
15:30 - Canada - Unemployment rate
15:45 - USA - FOMC Member Harker Speaks
20:00 - USA - U.S. Baker Hughes Oil Rig Count
US Equity Upgrades
ALEXION (ALXN) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN
C.H. ROBINSON (CHRW) UPGRADED TO NEUTRAL FROM SELL AT UBS
FORMULA ONE GROUP (FWONA) UPGRADED TO BUY FROM NEUTRAL AT CITI
HORACE MANN (HMN) UPGRADED TO MARKET PERFORM FROM UNDERPERFORM AT KEEFE BRUYETTE
LULULEMON (LULU) UPGRADED TO POSITIVE FROM NEUTRAL AT SUSQUEHANNA
MUELLER WATER (MWA) UPGRADED TO OUTPERFORM FROM NEUTRAL AT BOENNING & SCATTERGOOD
NAUTILUS (NLS) RESUMED WITH A BUY FROM NEUTRAL AT B. RILEY
NAVIENT (NAVI) UPGRADED TO BUY FROM NEUTRAL AT COMPASS POINT
NMI HOLDINGS (NMIH) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT KEEFE BRUYETTE
PATTERSON-UTI (PTEN) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN
PROLOGIS (PLG) UPGRADED TO BUY FROM HOLD AT SUNTRUST
REPSOL (REPYY) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT MORGAN STANLEY
SKYWORKS (SWKS) UPGRADED TO BUY FROM SELL AT CITI
TECH DATA (TECD) UPGRADED TO BUY FROM NEUTRAL AT NORTHCOAST
U.S. Steel (X) upgraded to Buy from Neutral at BofA/Merrill
XOMA (XOMA) UPGRADED TO OUTPERFORM FROM NEUTRAL AT WEDBUSH
US Equity Downgrades
ALLISON TRANSMISSION (ALSN) DOWNGRADED TO SELL FROM HOLD AT DEUTSCHE BANK
AVALONBAY (AVB) DOWNGRADED TO NEUTRAL FROM BUY AT GOLDMAN SACHS
CALUMET SPECIALTY (CLMT) PRODUCTS DOWNGRADED TO NEUTRAL FROM BUY AT JANNEY CAPITAL
ROCKWELL COLLINS (ROC) DOWNGRADED TO NEUTRAL FROM BUY AT BUCKINGHAM
TELEFONICA (TEF) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT JPMORGAN
VIACOM (VIAB) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT WELLS FARGO
US Equity Initiations
AKAMAI (AKAM) INITIATED WITH A NEUTRAL AT CREDIT SUISSE
ALLISON TRANSMISSION (ALSN) INITIATED WITH A NEUTRAL AT BUCKINGHAM
AUTOZONE (AZO) REINSTATED WITH A BUY AT BOFA/MERRILL
BASIC ENERGY BAS) RESUMED WITH AN OUTPERFORM AT EVERCORE ISI
CARLISLE (CSL) INITIATED WITH A BUY AT BUCKINGHAM
CARTER'S (CRI) INITIATED WITH A BUY AT GOLDMAN SACHS
CHECK POINT (CHKP) INITIATED WITH A NEUTRAL AT CREDIT SUISSE
CMS (CMS) ENERGY INITIATED WITH A NEUTRAL AT GUGGENHEIM
DOWDUPONT (DWDP) INITIATED WITH A BUY AT UBS
DOWDUPONT (DWDP) INITIATED WITH A POSITIVE AT SUSQUEHANNA
DOWDUPONT (DWDP) INITIATED WITH AN OUTPERFORM AT MACQUARIE
ENERGY RECOVERY (ERII) INITIATED WITH AN OUTPERFORM AT JMP SECURITIES
FLOOR & DECOR (FND) REINSTATED WITH A BUY AT BOFA/MERRILL
FORTINET (FTNT) INITIATED WITH AN UNDERPERFORM AT CREDIT SUISSE
HELIX ENERGY (HLX) INITIATED WITH A NEUTRAL AT BOFA/MERRILL
HORTONWORKS (HDP) INITIATED WITH AN OUTPERFORM AT CREDIT SUISSE
KEY ENERGY (KEG) RESUMED WITH AN IN-LINE AT EVERCORE ISI
LIGAND (LGND) ASSUMED WITH A BUY AT H.C. WAINWRIGHT
LOWE'S (LOW) REINSTATED WITH A BUY AT BOFA/MERRILL
LULULEMON (LULU) UPGRADED TO POSITIVE AT SUSQUEHANNA
MERITOR (MTOR) INITIATED WITH A BUY AT BUCKINGHAM
MICHAELS (MIK) REINSTATED WITH A BUY AT BOFA/MERRILL
OFFICE DEPOT (ODP) REINSTATED WITH A BUY AT BOFA/MERRILL
OLLIE'S BARGAIN OUTLET (OLLI) REINSTATED WITH A BUY AT BOFA/MERRILL
ONEOK (OKE) REINSTATED WITH AN EQUAL WEIGHT AT BARCLAYS
ORACLE (ORCL) INITIATED WITH AN OUTPERFORM AT CREDIT SUISSE
OWENS-ILLINOIS (OI) INITIATED WITH A NEUTRAL AT UBS
PACCAR (PCAR) INITIATED WITH A NEUTRAL AT BUCKINGHAM
PALO ALTO NETWORKS (PANW) INITIATED WITH AN UNDERPERFORM AT CREDIT SUISSE
PALO ALTO NETWORKS (PANW) UPGRADED TO BUY FROM HOLD AT ARGUS
RANGER ENERGY (RNGR) INITIATED WITH A SECTOR PERFORM AT SCOTIA HOWARD WEIL
RANGER ENERGY (RNGR) INITIATED WITH AN EQUAL WEIGHT AT BARCLAYS
RANGER ENERGY (RNGR) INITIATED WITH AN OUTPERFORM AT EVERCORE ISI
RED HAT (RHT) INITIATED WITH A NEUTRAL AT CREDIT SUISSE
RPC, INC. (RES) INITIATED WITH AN EQUAL WEIGHT AT BARCLAYS
SANTANDER CONSUMER (SC) UPGRADED TO POSITIVE FROM NEUTRAL AT SUSQUEHANNA
SERVICENOW (NOW) INITIATED WITH AN OUTPERFORM AT CREDIT SUISSE
SPLUNK (SPLK) INITIATED WITH AN OUTPERFORM AT CREDIT SUISSE
VMWARE (VMW) INITIATED WITH AN OUTPERFORM AT CREDIT SUISSE
WABCO (WBC) INITIATED WITH A NEUTRAL AT BUCKINGHAM
YOGAWORKS (YOGA) INITIATED WITH A BUY AT GUGGENHEIM
YOGAWORKS (YOGA) INITIATED WITH A BUY AT ROTH CAPITAL
YOGAWORKS (YOGA) INITIATED WITH AN OUTPERFORM AT COWEN
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