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- Trading day in one post 09/01/2017
Trading day in one post 09/01/2017
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Loading...Overview of the Asian markets: Asian stocks traded sideways as investors await a U.S. jobs report for clues on the Federal Reserve’s policy-tightening path due Friday ahead of a long weekend in America. Japan’s Topix index swung between gains and losses as of 11 a.m. Tokyo time, while the Nikkei 225 Stock Average added 0.2 percent. The Kospi index in South Korea and Australia’s main gauge were slightly lower after early gains. Hang Seng Index in Hong Kong rose 0.4 percent, while the Shanghai Composite Index added 0.3 percent. Contracts on the S&P 500 were up less than 0.1 percent after the underlying measure rose 0.6 percent. The MSCI Asia Pacific Index climbed 0.1 percent.
Currency market: USD: The dollar was trading lower compared to other currencies, remaining around the level of 1.19 per euro. Worse US inflation data has negatively affected the greenback. The Dollar Spot Index was steady after falling 0.2 percent. EUR: The euro was unchanged at $1.1907, near the strongest since 2015. Today we expect PMI data in the euro area manufacturing sector. We will probably see higher volatility today in the single currency. JPY: The yen fell 0.1 percent to 110.10 per dollar after rising 0.2 percent.
Commodities Markets: OIL.WTI fell 0.5 percent to $47.01 a barrel. GOLD lost 0.2 percent to $1,319.18 an ounce after capping its best month since January. Gasoline for September advanced on Thursday for an eighth day, up 14 percent to $2.1399 a gallon. Earlier, the front-month contract touched the highest since July 2015. The October contract fell 0.5 percent to $1.7707 a gallon. The rise in prices was mainly due to the effects of Hurricane Harney.
European stock market: As tensions with North Korea remain in the background, economic data from Europe today is now in focus. During the previous session, the European indexes were trading higher. Today they are pointed to open higher as well: German Dax will be higher by 19 points to 12082, French CAC 6 points higher to 5096, and British FTSE 100 also by about 6 points up to 7430.
U.S. stock market: American stocks closed higher, after data underscored the resilience of the American and Chinese economies and concern over North Korea shifted to the background.The S&P 500 Index erased a monthly loss with its fifth straight advance. During the Asian markets session it rose by 0.1%. The indices DJIA and Nasdaq also traded higher by 0.1%. Today we expect major US economic data for unemployment and nonfarm payrolls.
Economic calendar for the European and U.S. trading sessions 09/01/2017
09:30 Australia - Commodity prices
10:15 Switzerland - Retail Sales
10:50 France - Manufacturing PMI
10:55 Germany - Manufacturing PMI
11:00 Euro zone - Manufacturing PMI
11:30 UK - Manufacturing PMI
12:15 Euro zone - ECB's Constancio speaks
15:30 USA - Average Hourly Earnings
15:30 USA - Unemployment Rate
15:30 USA - Nonfarm Payrolls
16:30 Canada - RBC Manufacturing PMI
16:45 USA - Manufacturing PMI
17:00 USA - ISМ Manufacturing PMI
17:00 USA - ISM Manufacturing Employment
17:00 USA - Michigan Consumer Sentiment and Expectations
20:00 USA - U.S. Baker Hughes Oil Rig Count
23:00 USA - All Car Sales
US Equity Upgrades
C.H. ROBINSON (CHRW) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT STEPHENS
CAE (CAE) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT BMO CAPITAL
CIENA (CIEN) UPGRADED TO BUY FROM NEUTRAL AT CITI
DOMINION MIDSTREAM (DM) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT MORGAN STANLEY
HESS MIDSTREAM PARTNERS (HESM) UPGRADED TO OVERWEIGHT AT MORGAN STANLEY
LANDSTAR SYSTEM (LSTR) UPGRADED ON TIGHTENING TRUCKLOAD ENVIRONMENT AT STEPHENS
LANDSTAR SYSTEM (LSTR) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT STEPHENS
M.D.C. HOLDINGS (MDC)UPGRADED TO MARKET PERFORM FROM UNDERPERFORM AT WELLS FARGO
PATTERSON-UTI (PTEN) UPGRADED TO BUY FROM NEUTRAL AT CITI
PROSPECT CAPITAL (PSEC) UPGRADED TO MARKET PERFORM FROM UNDERPERFORM AT RAYMOND JAMES
SANOFI (SNY) UPGRADED TO HOLD FROM REDUCE AT HSBC
SANTANDER CONSUMER (SC) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT PIPER JAFFRAY
US Equity Downgrades
ARC LOGISTICS (ARCX) DOWNGRADED TO HOLD FROM BUY AT STIFEL
ARC LOGISTICS (ARCX) DOWNGRADED TO HOLD FROM BUY AT SUNTRUST
COTY (COTY) DOWNGRADED TO SELL FROM HOLD AT BERENBERG
CUBESMART (CUBE) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT RAYMOND JAMES
KEANE GROUP (FRAC) DOWNGRADED TO NEUTRAL FROM BUY AT CITI
THE ADVISORY BOARD (ABCO) DOWNGRADED TO HOLD FROM BUY AT CANACCORD
VORNADO (VNO) DOWNGRADED TO HOLD FROM BUY AT STIFEL
US Equity Initiations
CAPITAL SOUTHWEST (CSWC) INITIATED WITH AN OUTPERFORM AT BAIRD
LA JOLLA (LJPC) INITIATED WITH AN OVERWEIGHT AT JPMORGAN
RE/MAX HOLDINGS (RMAX) INITIATED WITH A BUY AT CRAIG-HALLUM
REATA PHARMACEUTICALS (RETA) INITIATED WITH A BUY AT JEFFERIES
UNIVERSAL DISPLAY (OLED) INITIATED WITH A BUY AT DEUTSCHE BANK
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