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Varchev Finance: Trading day in one post
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Loading...Asian Stock Market: Asian markets followed the US example and recorded new, higher values during the Asian session. Investors closely looked Trump's visit to Asia, and today the president is expected to discuss the situation in North Korea with its southern neighbor. Japan's Nikkei 225 climbed 1.25%, reaching its highest levels 26 years ago. The main drivers were the energy stocks, which rose strongly after the rise in oil. Kospi declined by 0.15% despite growth in the energy sector. ASX200 managed to mark a 0.86% increase Hang Seng climbed 1.21% and Shanghai composite by 0.58%.
FOREX: JPY marks the second day of decline, falling 0.26% during the Asian session, amid rising stock markets and low demand for hedging instruments. USD is traded slightly, as this week is poor on US economic data. We expect a slight weakening of the dollar by the end of the week. AUD traded downward after RBA left interest rates unchanged, and in the RBA's report, investors did not find enough evidence to raise interest rates by the end of the year. Inflation forecasts remain low and, according to Bank members, the indicator will remain at low levels for a long time. GBP will most likely remain under the influence of Brexit as well as the policies of the island after losing support from bans on tightening the policy of the central bank. The currency has fallen in the last three weeks because of worries about the UK's separation with the EU, and the failure of the Bank of England to start tightening monetary policy. EUR traded unchanged, and investors are expecting Mario Draghi's statement today as of 12:00.
Commodity market: Oil continues to mark new peaks, reflecting the complicated situation in Saudi Arabia due to the arrests of senior Saudi Aramco employees and the royal family. GOLD traded slightly, reflecting the rising stock market and high-risk appetite. Precious metal managed to find support for the third time at around $ 1270, showing that despite the growth of stocks investors prefer to remain secure.
European stock market: European markets are expected to open up, reflecting the positive positivism during the US and Asian sessions. The German DAX30 will start the session with an increase of 30 points at the price of 13 499. The French CAC40 will start trading 4 points higher at 5519, the British FTSE100 will open up to 7580 or 18 points higher, forming a new record high. Today we expect Mario Draghi's statement, from which investors will seek more information about the monetary policy of the ECB. We do not expect serious changes to Draghi's tone as to his latest statement, as he was firmly convinced that QE will continue to work, and interest rates will remain low, even after the definitive cessation of the program of quantitative easing.
US Trade session: US stock indices reached new records on Monday after Wall Street moods were backed up by Broadcom's corporate news deal with Qualcomm. Dow Jones industrial average rose 9.23 points to 23 548.42 points, reaching a historic peak. The Nasdaq composite technology index also closed at a record high after rising 0.3 percent to 6,786.44 points. The S&P 500 also recorded a record, rising by 0.13% to 2 591.13 points. The markets were excited about the news that Broadcom's chip maker had made a bid to acquire competitor Qualcomm worth $ 103 billion. If the deal is realized, it will be the largest in the history of the technology sector.
Economic Calendar for European and US trade sessions - 07.11.2017
09:30 Germany - Industrial Production
10:30 UK - Halifax Price Index of Housing
11:00 Eurozone - Speech by Mario Draghi
12:00 Eurozone - Retail Sales - September
17:00 USA - New Jobs and Jobs (JOLTS)
22:30 US - API Oil inventories
US Equity Upgrades
AMEDISYS (AMED) UPGRADED TO BUY FROM HOLD AT BENCHMARK
AMEDISYS (AMED) UPGRADED TO BUY FROM NEUTRAL AT MIZUHO
BILL BARRETT (BBG) UPGRADED TO OUTPERFORM FROM IN-LINE AT IMPERIAL CAPITAL
BLUEBIRD BIO (BLUE) UPGRADED TO BUY FROM NEUTRAL AT BTIG
CLEAN HARBORS (CLH) UPGRADED TO MARKET PERFORM FROM UNDERPERFORM AT RAYMOND JAMES
DEVON ENERGY (DVN) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT STEPHENS
DOMINO'S PIZZA (DPZ) UPGRADED TO BUY FROM HOLD AT MAXIM
EQUINIX (EQIX) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN
HEALTHSOUTH (HLS) UPGRADED TO BUY FROM NEUTRAL AT MIZUHO
HOLLYFRONTIER (HFC) UPGRADED TO NEUTRAL FROM SELL AT GOLDMAN SACHS
HORIZON TECHNOLOGY (HRZN) UPGRADED TO MARKET PERFORM FROM UNDERPERFORM AT RAYMOND JAMES
INTERCEPT (ICPT) UPGRADED TO NEUTRAL WITH $69 TARGET AT CANTOR FITZGERALD
JUNO THERAPEUTICS UPGRADED TO BUY FROM HOLD AT SUNTRUST
NEWPARK RESOURCES (NR) UPGRADED TO BUY FROM HOLD AT SUNTRUST
RENAISSANCERE (RNR) UPGRADED TO BUY FROM NEUTRAL AT CITI
SOUTHCROSS ENERGY PARTNERS (SXE) UPGRADED TO MARKET PERFORM AT RAYMOND JAMES
U.S. STEEL (X) UPGRADED TO MARKET PERFORM FROM UNDERPERFORM AT COWEN
YELP (YELP) UPGRADED TO OUTPERFORM FROM SECTOR PERFORM AT RBC CAPITAL
US Equity Downgrades
AMERICAN ASSETS TRUST (AAT) DOWNGRADED TO NEUTRAL FROM BUY AT BOFA/MERRILL
ARC DOCUMENT (ARC) DOWNGRADED TO NEUTRAL FROM BUY AT FBR CAPITAL
BROOKFIELD RENEWABLE (BEP) DOWNGRADED TO NEUTRAL FROM OUTPERFORMER AT CIBC
CAESARSTONE (CSTE) DOWNGRADED TO UNDERWEIGHT FROM NEUTRAL AT JPMORGAN
CRITEO (CRTO) DOWNGRADED TO HOLD FROM BUY AT JEFFERIES
CRITEO (CRTO) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT COWEN
ENVISION HEALTHCARE (EVHC) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT STEPHENS
EPIZYME (EPZM) DOWNGRADED TO SECTOR PERFORM FROM OUTPERFORM AT RBC CAPITAL
HABIT RESTAURANTS (HABT) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT RAYMOND JAMES
HABIT RESTAURANTS (HABT) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT BAIRD
HOPE BANCORP (HOPE) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT RAYMOND JAMES
IMPERIAL OIL (IMO) DOWNGRADED TO UNDERWEIGHT FROM OVERWEIGHT AT BARCLAYS
IMPINJ (PI) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT PIPER JAFFRAY
NOW INC. (DNOW) DOWNGRADED TO NEUTRAL FROM POSITIVE AT SUSQUEHANNA
OCLARO (OCLR) DOWNGRADED TO BUY FROM STRONG BUY AT NEEDHAM
OCLARO (OCLR) DOWNGRADED TO HOLD FROM BUY AT CRAIG-HALLUM
ORASURE (OSUR) DOWNGRADED TO HOLD FROM BUY AT JEFFERIES
PAPA JOHN'S DOWNGRADED TO NEUTRAL FROM BUY AT BTIG
SQUARE (SQ) DOWNGRADED TO HOLD FROM BUY AT STIFEL
ZIMMER BIOMET (ZBH) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT PIPER JAFFRAY
US Equity Initiations
HOLLYFRONTIER (HFC) REINSTATED WITH AN OVERWEIGHT AT BARCLAYS
MICHAEL KORS (KORS) INITIATED WITH A POSITIVE AT SUSQUEHANNA
TABULA RASA HEALTHCARE (TRHC) INITIATED WITH AN OVERWEIGHT AT FIRST ANALYSIS
TAPESTRY (TPH) INITIATED WITH A POSITIVE AT SUSQUEHANNA
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