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- Trading day in one post 25.07.2017
Trading day in one post 25.07.2017
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Loading...Overview of the Asian markets: Most of the Asian markets were trading lower today. Investors started to position themselves appropriately due to the upcoming FED's rate decision on Thursday. The USD continue to sell of as the uncertainty around the Trump's administration climbed. This was shown by the speech given by the President in the early hours of the night, where he reached out to all Americans and the Democrats and asked for cooperation in regards of the upcoming event and repealing of Obama care, as the debates are starting again today. The share of auto producers rose as the USD stabilized and stopped its fall, at least for now. From the meeting minutes of the BoJ its clear that all members of the Central bank are thinking alike and support the loose monetary policy continuation, until the target inflation of 2% is reached. The JPY rose suddenly but it most likely will weaken again towards the end of the Asian session.
ASX 200 rose by 0.85% to 5 736,10. Nikkei 225 fell by -0.13% to 19 950.11, as the Kospi traded lower by -0.08% to 2,449.46. Shanghai composite also traded lower by -0.36% at level of 3,238.99. In Hong Kong, the index Hang Seng rose by с 0.08% up to 26,867.12.
FX market overview: The absence of data during the Asian market, was the cause of uneventful session today, but also the investors are careful as the FED rate decision looms. The dollar index/DXY traded around level of 93,930. The NZD was the weakest currency but it managed to clear its looses. It is possible to see the currency to continue to fall if traders loose their appetite for risk before the FED decision. The AUD and CAD, on the other had continue to trade firm and strong. The expectaitons for another rate hike from the BoC support the Canadian currency. The British Pound also increased slightly, but trading it remains risky. The Euro jumped in the late hours of the Asian session without any news events and its possible that traders supported the currency after its short term consolidation and we might see higher levels again. The JPY should remain weak after the meeting minutes from the BoJ. The consistently weaker JPY helped the stocks of the exporters as it helps their profits.
Commodities Markets: The price of Oil was slightly higher during the Asian session, reaching $46.70 per barrel. Analysts remain with the thought that the price of Oil will continue to climb up slowly , but it will largely remain below $60. After the OPEC's meeting in St. Petersburg, the price of the commodity was supported, as it was clear the the organization thinks that during the second half of the year the demand for Oil will increase and that will balance the excess storage and restore balance between lower production levels and decent World demand. However, adjustments will continue to be made if the desired effect is not reached. Gold remained without any sizable changed during the night and the price remained around $1255, as the low liquidity is due to the anticipated risk event from the FED. The rest of the of the metals like the Silver and Palladium will possibly follow the direction of the Gold, as the risk event looms and we might see higher prices again if no rate hike is voted.
Европейски борсов пазар:
European stocks fell as a rout in carmakers outweighed a rally in banks on the first day of the earnings
season’s busiest week.
The Stoxx Europe 600 Index fell 0.2 percent at the close. Equities fell as much as 0.6 percent after data showed the euro- area economy in July grew at the slowest pace in six months. Automakers fell for a third day, weighing on Germany’s DAX Index, as concerns lingered about antitrust collusion in the industry. European shares fell last week as a strong euro stoked concern that exporter profits will suffer.
Almost a third of the companies in the Stoxx 600 are scheduled to report results this week. Deutsche Bank AG, BNP Paribas SA and UBS Group AG are among financial firms slated to do so.
A euro at $1.20 versus the U.S. dollar may be the “pain threshold” at which the single currency would damp this year’s long-awaited earnings revival in Europe, according to a Bloomberg survey of 23 strategists and fund managers.
Adding to weak data in Europe, a report showed manufacturing in Germany expanded less than expected in July. The benchmark DAX Index fell 0.3 percent amid losses in auto shares.
The European markets are expected to open higher. DAX expected to open higher by 46 points around 12245.30, CAC by 20 up to 5,141, UKX around 37 points higher at 7,398.
Американски борсов пазар: American stock markets closed slightly lower today for the DJIA and the S&P 500 today, as for the NASDAQ its traded higher. This situation is quite familiar, as the tech sector is raising again, despite the other industries. Fundamentally the economy continue to expand slowly, but there are indicators that signal possible negative business activity. The expectations from the corporate financial reports are positive, as the 6 out of 11 sectors in the S&P 500 have reported better than expected. Transportation sector is again with the worst fall and some analyst pay close attention to that sector, as it plays a role as a barometer for the economy. The markets are also expecting FOMC rate decision on Wednesday.
DJIA: -66.90 points/ -0.31% - 21,513.17
S&P: -2.63 points/ -0.11% - 2,469.91
NASDAQ: 23.05 points/ 0.36% - 6,410.81
RUSS 2000: 2.74 points/ 0.19% - 1,438.58
VIX: 9.37
Alphabet's financial report is better than expected with EPS $5.01 vs. $4.45, Доходност от 3.09 Млрд.
In the S&P higher trader the Financial and tech sector and lower traded Utilities and the trasporation sectors. DJ, closed lower with Johnson&Johnson contributing with the highest loss. If the positive sentiment hold ground and data from the USA today come out better than expected, its possible to see higher prices of the US indices.
Икономическите данни и новини които да следим днес:
09:00 - Germany - German Import Price Index (MoM) (Jun)
09:45 - France - French PPI (MoM) (Jun)
11:00 - Germany - German Ifo Business Climate Index (Jul)
13:00 - UK - CBI Industrial Trends Orders (Jul)
15:55 - USA - Redbook (YoY)
16:00 - USA - House Price Index (May)
17:00 - USA - CB Consumer Confidence (Jul)
17:00 - USA - Richmond Manufacturing Index (Jul)
20:00 - UK - BoE MPC Member Haldane Speaks
US Equity Upgrades
B&G FOODS (BGS) UPGRADED TO BUY FROM NEUTRAL AT CITI
BUFFALO WILD WINGS (BWLD) UPGRADED TO OUTPERFORM FROM NEUTRAL AT WEDBUSH
HP INC. (HPQ) UPGRADED TO OUTPERFORM FROM SECTOR PERFORM AT RBC CAPITAL
HP INC. (HPQ) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT MORGAN STANLEY
NIKE (NKE) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT MORGAN STANLEY
ROYAL CARIBBEAN (RCL) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN
U.S. BANCORP (USB) UPGRADED TO BUY FROM HOLD AT ARGUS
US Equity Downgrades
ADVANTAGE OIL & GAS (AAV) DOWNGRADED TO SECTOR PERFORM FROM OUTPERFORM AT RBC CAPITAL
CARRIZO OIL & GAS (CRZO) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT JPMORGAN
CUBESMART (CUBE) DOWNGRADED TO UNDERPERFORM FROM NEUTRAL AT BOFA/MERRILL
ENERGEN (EGN) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT JPMORGAN
EP ENERGY (EPE) DOWNGRADED TO SECTOR PERFORM AT RBC CAPITAL
EP ENERGY (EPE) DOWNGRADED TO SECTOR PERFORM FROM OUTPERFORM AT RBC CAPITAL
EXTRA SPACE STORAGE (EXR) DOWNGRADED TO NEUTRAL FROM BUY AT BOFA/MERRILL
FAIRMOUNT SANTROL (FMSA) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT CREDIT SUISSE
FAIRMOUNT SANTROL (FMSA) DOWNGRADED TO SELL FROM NEUTRAL AT GOLDMAN SACHS
GUARANTY BANCORP (GBNK) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT KEEFE BRUYETTE
GULFPORT ENERGY (GPOR) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT JPMORGAN
JONES ENERGY (JONE) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT JPMORGAN
MARATHON PETROLEUM (MPC) REMOVED AS FRANCHISE PICK AT JEFFERIES
NEW RELIC (NEWR) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT MORGAN STANLEY
NVE CORP. (NVEC) DOWNGRADED TO HOLD DUE TO VALUATION AT CRAIG-HALLUM
PFIZER (PFE) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT CREDIT SUISSE
RINGCENTRAL (RNG) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT MORGAN STANLEY
RITE AID (RAD) DOWNGRADED TO NEUTRAL FROM BUY AT MIZUHO
SMART SAND (SND) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT CREDIT SUISSE
US Equity Initiations
CISION (CISN) INITIATED WITH AN OUTPERFORM AT CREDIT SUISSE
COUPA SOFTWARE (COUP) INITIATED WITH AN OVERWEIGHT AT CANTOR
DISCOVERY (DISCA) INITIATED WITH A MARKET PERFORM AT WELLS FARGO
ELDORADO RESORTS (ERI) INITIATED WITH AN OVERWEIGHT AT JPMORGAN
JOHNSON & JOHNSON (JNJ) REINSTATED WITH AN OUTPERFORM AT CREDIT SUISSE
MERIT MEDICAL INITIATED WITH A BUY AT BOFA/MERRILL
SCRIPPS NETWORKS (SNI) INITIATED WITH A MARKET PERFORM AT WELLS FARGO
SOLARIS OILFIELD (SOI) INITIATED WITH AN OUTPERFORM AT RAYMOND JAMES
SPRING BANK PHARMACEUTICALS (SBPH) INITIATED WITH AN OVERWEIGHT AT CANTOR
TESLA (TSLA) INITIATED WITH A NEUTRAL AT CITI
TILE SHOP (TTS) INITIATED WITH A HOLD AT LOOP CAPITAL
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