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- Varchev Finance: Trading day in one post 19.10.2017
Varchev Finance: Trading day in one post 19.10.2017
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Loading...Asian Exchange Market: Asian stock markets were trading with increase on Thursday. Japan's Nikkei rose 0.66%, Kospi by 0.08%. Australian ASX added 0.2% to its value. Despite better data from China for industrial production and GDP data, the country's indices have fallen. Shanghai composite declined by 0.52%, Shenzhen composite by 0.735% and Hang Seng down 0.07%.
Currency market: CAD has lost positions in the past few weeks and the investors are awaiting the BoC meeting next week. Although market analysts estimate the chance of raising the interest rate relatively low: 22%, we can get directions when we expect the next increase. The US dollar gained strength after having successfully passed the 1.1850 level. Expectations for an increase in the interest rate in December are the reason for the high appreciation of the currency. If the country's subsequent economic data continues to be above expectations, the FED will not waste time and raise the rate. Currently, market analysts estimate the possibility of an increase in December to 80%. AUD received support today during the Asian session after better-than-expected employment data in the country. Another factor was data from China, where Industrial Production was above 6.6% versus 6.2%. As a risky currency, we expect AUD to appreciate over the next few sessions supported by investor appetite.
Commodities: Gold fell as a result of renewed euphoria of investors. Positive fiscal outcomes send hedging instruments like GOLD into oblivion. From a technical point of view, the metal is under the main resistance of 1300 $, the current price is $ 1277, and the next stronger support is at 1250$. OIL lost a fraction of its price. Brent declined by 0.02% to $ 58.14 a barrel and WTI down 0.02% to $ 52.05 a barrel. For the moment, oil sentiment remains positive.
US Stock Market: US indices closed Wednesday's session at record highs. Guided by IBM's positive fiscal report, the DJIA rose by 160 points and reached level above 23,000. Third-quarter fiscal results are currently the market engine along with the speculation that D.Tramp's tax reform will be successful, investor risk appetite is has increased to the maximum. For the moment, we think long positions of the indexes are more logical and we will use every correction to position themselves.
European Stock Market: We expect European benchmarks to open with a declines. The German DAX will open a 5 point decrease around the 13050, the French CAC with a 9 point drop of 5375. Only UKX takes advantage of the weak GBP and will start trading on positive territory. We expect the indexes to continue to rise as the catalyst of this rise will be data from China after the opening of the stock exchange.
Economic calendar for the European and American trade sessions 19.10.2017
9:00 Switzerland - Trade balance
11:30 UK - Retail sales
15:30 USA - Initial jobless claims
15:30 USA - Philadelphia FED manufacturing index
16:30 USA - FOMC member George speaks
US Equity Upgrades
BIOGEN (BIIB) UPGRADED TO BUY FROM NEUTRAL AT MIZUHO
CENTURY ALUMINUM (CENX) UPGRADED TO BUY FROM HOLD AT DEUTSCHE BANK
CHEVRON (CVX) UPGRADED TO OUTPERFORM FROM NEUTRAL AT MACQUARIE
COMMERCIAL METALS (CMC) UPGRADED TO BUY FROM HOLD AT JEFFERIES
EMERSON (EMR) UPGRADED TO BUY FROM NEUTRAL AT BOFA/MERRILL
ENERGY TRANSFER EQUITY (ETE) UPGRADED TO BUY FROM NEUTRAL AT GOLDMAN SACHS
HALCON RESOURCES UPGRADED TO BUY FROM NEUTRAL AT SEAPORT GLOBAL
PHILLIPS 66 PARTNERS (PSXP) UPGRADED TO NEUTRAL FROM SELL AT GOLDMAN SACHS
PRUDENTIAL (PRU) UPGRADED TO BUY FROM NEUTRAL AT CITI
THOMSON REUTERS (TRI) UPGRADED TO OUTPERFORM FROM SECTOR PERFORM AT SCOTIABANK
WEX (WEX) UPGRADED TO BUY FROM HOLD AT SUNTRUST
US Equity Downgrades
8POINT3 ENERGY (CAFD) DOWNGRADED TO NEUTRAL FROM BUY AT GOLDMAN SACHS
BRIGGS & STRATTON (BCG) DOWNGRADED TO UNDERPERFORM ON VALUATION AT RAYMOND JAMES
DARDEN (DRI) DOWNGRADED TO HOLD FROM BUY AT ARGUS
EATON (ETN) DOWNGRADED TO UNDERPERFORM FROM UNDERPERFORM AT BOFA/MERRILL
EMBRAER (ERJ) DOWNGRADED TO HOLD FROM BUY AT DEUTSCHE BANK
ENERGY TRANSFER PARTNERS (ETP) DOWNGRADED TO NEUTRAL FROM BUY AT GOLDMAN SACHS
FREEPORT MCMORAN (FCX) DOWNGRADED TO SELL FROM HOLD AT DEUTSCHE BANK
INGERSOLL-RAND (IR) DOWNGRADED TO NEUTRAL FROM BUY AT BOFA/MERRILL
KAISER ALUMINUM (KALU) DOWNGRADED TO HOLD FROM BUY AT DEUTSCHE BANK
KINDER MORGAN (KMI) DOWNGRADED TO NEUTRAL FROM BUY AT GOLDMAN SACHS
SPECTRA ENERGY PARTNERS (SEP) DOWNGRADED TO SELL FROM NEUTRAL AT GOLDMAN SACHS
TARGA RESOURCES (TRGP) DOWNGRADED TO NEUTRAL FROM BUY AT GOLDMAN SACHS
TYLER TECHNOLOGIES (TYL) DOWNGRADED TO SECTOR WEIGHT FROM OVERWEIGHT AT KEYBANC
WEST PHARMACEUTICAL (WST) DOWNGRADED TO NEUTRAL FROM BUY AT BOFA/MERRILL
US Equity Initiations
ACADIA (ACHC) INITIATED WITH AN OUTPERFORM AT BMO CAPITAL
AEROHIVE (HIVE) INITIATED WITH A BUY AT CRAIG-HALLUM
AETNA (AET) INITIATED WITH A MARKET PERFORM AT BMO CAPITAL
ALLY FINANCIAL (ALLY) INITIATED WITH A BUY AT CITI
ANTHEM (ANTM) INITIATED WITH A MARKET PERFORM AT BMO CAPITAL
ARDELYX (ARDX) REINITIATED WITH AN OUTPERFORM AT LEERINK
CALLON PETROLEUM (CPE) INITIATED WITH A BUY AT BOFA/MERRILL
CARBONITE (CARB) INITIATED WITH AN OUTPERFORM AT JMP SECURITIES
CENTENE (CNC) INITIATED WITH AN OUTPERFORM AT BMO CAPITAL
CENTENNIAL RESOURCE DEVELOPMENT (CDEV) INITIATED WITH A BUY AT BOFA/MERRILL
CIGNA (CI) INITIATED WITH A MARKET PERFORM AT BMO CAPITAL
CIT GROUP (CIT) INITIATED WITH A BUY AT CITI
DESPEGAR.COM (DESP) INITIATED WITH A NEUTRAL AT CITI
DXC TECHNOLOGY (DXC) INITIATED WITH AN OUTPERFORM AT EVERCORE ISI
EATON VANCE (EV) INITIATED WITH A BUY AT DEUTSCHE BANK
FEDERATED INVESTORS (FII) INITIATED WITH A HOLD AT DEUTSCHE BANK
GROUPON (GRPN) INITIATED WITH A BUY AT GABELLI
HALCON RESOURCES (HK) INITIATED WITH A NEUTRAL AT BOFA/MERRILL
HCA HEALTHCARE (HCA) INITIATED WITH AN OUTPERFORM AT BMO CAPITAL
HUMANA (HUM) INITIATED WITH AN OUTPERFORM AT BMO CAPITAL
ICU MEDICAL (ICUI) INITIATED WITH A SECTOR WEIGHT AT KEYBANC
INPHI (IPHI) INITIATED WITH A NEUTRAL AT DA DAVIDSON
INPHI (IPHI) INITIATED WITH A NEUTRAL AT DA DAVIDSON
JAGGED PEAK ENERGY (JAG) INITIATED WITH A BUY AT BOFA/MERRILL
JAMES RIVER GROUP (JRVR) INITIATED WITH AN OUTPERFORM AT JMP SECURITIES
JANUS HENDERSON GROUP (JHG) INITIATED WITH A HOLD AT DEUTSCHE BANK
LEGG MASON (LM) INITIATED WITH A BUY AT DEUTSCHE BANK
LIFEPOINT (LPNT) INITIATED WITH A MARKET PERFORM AT BMO CAPITAL
MACOM (MTSI) INITIATED WITH A NEUTRAL AT DA DAVIDSON
MEDNAX (MD) INITIATED WITH A MARKET PERFORM AT BMO CAPITAL
MOLINA HEALTHCARE (MOH) INITIATED WITH A MARKET PERFORM AT BMO CAPITAL
NAVIENT (NAVI) INITIATED WITH A BUY AT CITI
OASIS PETROLEUM (OAS) ASSUMED WITH AN OVERWEIGHT AT PIPER JAFFRAY
ONEMAIN HOLDINGS (OMF) INITIATED WITH A NEUTRAL AT CITI
SALLIE MAE (SLM) INITIATED WITH A BUY AT CITI
SEECO HOLDING (SECO) INITIATED WITH A BUY AT JEFFERIES
SPROUTS FARMERS MARKET (SFM) INITIATED WITH A POSITIVE AT SUSQUEHANNA
TACTILE SYSTEMS (TCMD) INITIATED WITH A MARKET PERFORM AT NORTHLAND
TPG RE FINANCE (TRTX) ASSUMED WITH A NEUTRAL AT CITI
UNITED NATURAL FOODS (UNFI) INITIATED WITH A NEUTRAL AT SUSQUEHANNA
UNITEDHEALTH (UNH) INITIATED WITH AN OUTPERFORM AT BMO CAPITAL
UNIVERSAL FOREST (UFPI) INITIATED WITH A MARKET PERFORM AT BMO CAPITAL
UNIVERSAL HEALTH (UHS) INITIATED WITH AN OUTPERFORM AT BMO CAPITAL
WELLCARE (WCG) INITIATED WITH AN OUTPERFORM AT BMO CAPITAL
WISDOMTREE (WETF) INITIATED WITH A BUY AT DEUTSCHE BANK
WPX ENERGY (WPX) INITIATED WITH A BUY AT BOFA/MERRILL
XOMA (XOMA) ASSUMED WITH A BUY AT H.C. WAINWRIGHT
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