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- Trading day in one post 12.07.2017
Trading day in one post 12.07.2017
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Loading...Overview of Asian indices:
The Asian markets fell. Japanese Nikkei traded lower -0.34 % as the JPY gained strength. ASX also fell by -0.82%. Chinese markets followed the rest of the indices lower. Shanghai composite moved to the down side by -0.05%, as Shenzhen composite traded lower -0.419%.
FX overview: JPY gained strength against its rival. At the moment USD/JPY is trading around level of 113.40, as it was traded 114.30 earlier. The pound continue to fall against the EUR and the USD, as trading as follows 0.893 and 1.2850 respectively.
What to expect today: At 11:30 traders await the data from the Average earnings +bonuses from the UK. This month much of the economic data came out negative, therefore it is more likely that the currency is under pressure and will fall.
17:00 we will see if the BoC will raise the interest rate. Expectations are for a rise of 0.25 basis points up to 0.75%. Much of the CAD movement up is already priced in, but if we do not have an increase, its possible that the CAD will fall quickly to the downside.
USD – Remains under pressure. At the moment the USD is the weakest among the currencies. Today Janet Yellen will testify in front of the Congress at 17:00, and depending on her comments, investors will likely decide if the USD would remain weak or traders may support it.
Commodities Markets
What to expect today:
The price of Oil remains without any significant movement during the Asian hours. It does remain in bearish trend, and we will wait for a correction to enter short. At 17:30 comes out the latest data for the Crude Oil Inventories. If data is better than expected it will support the black Gold.
Gold: The precious metal went up overnight. The price jumped from the strong technical level of $1,200, but for the moment we remain short, after a test of the break of the main diagonal support at $1,237.
Overview of the American indices and futures: The US indices closed mix yesterday. At the opening DJIA opened higher but then quickly erased all of the gains, after the news about the emails that belong to Trump Jr. The S&P 500 finished the session up by 0.08%, as the Nasdaq closed higher by 0.27%.
What to expect today: Traders will focus on the Yellen's testimony in front of the Congress. Investors, will watch for any obvious clues when we can expect another rate hike and the state of the economy. FED chair my also comment on their action in regards to decreasing of the balance sheet.
Economic news and data, which will likely move the markets today:
9:00 Germany - WPI
11:30 UK - Average Earnings Index +Bonus (May)
11:30 UK - Unemployment Rate (May)
12:00 EU - Industrial Production (MoM) (May)
17:00 USA - Fed Chair Yellen Testifies
17:00 CAD - Решение за основният лихвен процент
17:30 USA - Crude Oil Inventories
18:15 CAD - BoC Gov Poloz Speaks
21:00 USA - Beige Book
21:15 USA - FOMC Member George Speaks
FX Technical picture:
Indices technical picture:
European stocks in the buy zone:
Infineon Tech AG, Adidas AG, Kion Group AG(KGX), Vowkswagen AG, EIFAGE AG(FGR.DE),
Ipsen FR (IPN.PA), Zalando SE(ZAL.DE), MTU Aero Engines DE(MTX.DE), Credit Agricole,
Leoni AG(LEO.DE), PUMA AG(PUM.DE), Rio Tinto PLC, BHP Billiton PLC,
European stocks in the Sell zone:
Santander, Kering, ENI, Nestle, Novartis
US Equity Upgrades
AGCO (AGCO) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT WILLIAM BLAIR
BAXTER (BAX) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT BMO CAPITAL
CALATLANTIC (CAA) UPGRADED TO EQUAL WEIGHT FROM UNDERWEIGHT AT BARCLAYS
ENANTA (ENTA) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT JMP SECURITIES
EXXON MOBIL (XOM) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT BARCLAYS
GREAT PLAINS ENERGY (GXP) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN
IMPERIAL OIL (IMO) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT BARCLAYS
KEYCORP (KEY) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT KEEFE BRUYETTE
KEYCORP (KEY) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT KEEFE BRUYETTE
M&T BANK (MTB) UPGRADED TO BUY FROM HOLD AT JEFFERIES
MAGNA (MGA) UPGRADED TO TOP PICK AT CORMARK
STMICROELECTRONICS (STM) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN
THERAPEUTICSMD (TXMD) UPGRADED TO OUTPERFORM FROM PERFORM AT OPPENHEIMER
WESTAR ENERGY (WR) UPGRADED TO OUTPERFORM FROM IN LINE AT EVERCORE ISI
WESTAR ENERGY (WR) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN
US Equity Downgrades
CHARLES SCHWAB (SCHW) DOWNGRADED TO HOLD FROM BUY AT DEUTSCHE BANK
CLUBCORP (MYCC) DOWNGRADED TO IN-LINE FROM OUTPERFORM AT IMPERIAL CAPITAL
GILDAN ACTIVEWEAR (GIL) DOWNGRADED TO SECTOR PERFORM FROM OUTPERFORM AT RBC CAPITAL
GUARANTY BANCORP (GBNK) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT PIPER JAFFRAY
INOTEK PHARMACEUTICALS (ITEK) DOWNGRADED TO NEUTRAL FROM BUY AT H.C. WAINWRIGHT
LENNAR (LEN) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT BARCLAYS
MURPHY OIL (MUR) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT BARCLAYS
PATTERSON COMPANIES (PDCO) DOWNGRADED TO SELL FROM NEUTRAL AT UBS
PETMED EXPRESS (PETS) DOWNGRADED TO HOLD FROM BUY AT CRAIG-HALLUM
PULTEGROUP (PHM) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT BARCLAYS
SNAP (SNAP) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT MORGAN STANLEY
TOLL BROTHERS (TOL) DOWNGRADED TO UNDERWEIGHT FROM EQUAL WEIGHT AT BARCLAYS
TOYOTA (TM) DOWNGRADED TO UNDERPERFORM FROM NEUTRAL AT BOFA/MERRILL
TRI POINTE (TPH) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT BARCLAYS
WEST MARINE (WMAR) DOWNGRADED TO NEUTRAL FROM BUY AT B. RILEY
WHOLE FOODS (WFM) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT WELLS FARGO
US Equity Initiations
ACORDA THERAPEUTICS (ACOR) INITIATED WITH A HOLD AT JEFFERIES
AMGEN (AMGN) ASSUMED WITH A BUY AT JEFFERIES
ANAPTYSBIO (ANAB) INITIATED WITH AN OUTPERFORM AT BAIRD
AXOVANT SCIENCES (AXON) INITIATED WITH A BUY AT JEFFERIES
BELDEN (BDC) INITIATED WITH A BUY AT GUGGENHEIM
BIOGEN (BIIB) ASSUMED WITH A HOLD AT JEFFERIES
CELGENE (CELG) ASSUMED WITH A BUY AT JEFFERIES
CHEESECAKE FACTORY (CAKE) INITIATED WITH AN OUTPERFORM AT WEDBUSH
CITI (C) INITIATED WITH A HOLD AT HSBC
COACH (COH) INITIATED WITH A BUY AT MKM PARTNERS
COLONY STARWOOD HOMES (SFR) INITIATED WITH AN OUTPERFORM AT RAYMOND JAMES
DELEK US (DK) REINSTATED WITH A NEUTRAL AT JPMORGAN
DENTSPLY SIRONA (XRAY) INITIATED WITH A BUY AT H.C. WAINWRIGHT
ESPERION (ESPR) INITIATED WITH A HOLD AT JEFFERIES
FIBROGEN (FGEN) INITIATED WITH A BUY AT JEFFERIES
FORTRESS BIOTECH (FBIO) INITIATED WITH A BUY AT RODMAN & RENSHAW
GILEAD (GILD) ASSUMED WITH A HOLD AT JEFFERIES
GRAPHIC PACKAGING (GPK) INITIATED WITH A BUY AT DA DAVIDSON
INSMED (INSM) INITIATED WITH AN OUTPERFORM AT BAIRD
INTERCEPT (ICPT) INITIATED WITH A BUY AT JEFFERIES
JAGUAR ANIMAL HEALTH (JAGX) INITIATED WITH A BUY AT RODMAN & RENSHAW
MASIMO (MASI) INITIATED WITH A BUY AT STIFEL
MICHAEL KORS (KORS) INITIATED WITH A SELL AT MKM PARTNERS
NATIONAL BANK (NBHC) INITIATED WITH A NEUTRAL AT PIPER JAFFRAY
PROTHENA (PRTA) INITIATED WITH A BUY AT JEFFERIES
SIENTRA (SIEN) INITIATED WITH AN OVERWEIGHT AT STEPHENS
SPARK THERAPEUTICS (ONCE) INITIATED WITH A BUY AT JEFFERIES
TETRAPHASE (TTPH) INITIATED WITH A BUY AT H.C. WAINWRIGHT
TWILIO (TWLO) INITIATED WITH AN OUTPERFORM AT BAIRD
VERTEX (VRTX) INITIATED WITH A BUY AT JEFFERIES
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