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- Varchev Finance: Trading day in one post 17.11.2017
Varchev Finance: Trading day in one post 17.11.2017
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Loading...Asian Stock Market: Bulls have once again conquered the world ... Asian markets were booming after temporary uncertainty stemming from postponing the tax reform for 2019. Alas today, the main driving force behind the market is the same tax reform voted by the US House. Japan's Nikkei 225 grew by only 0.07% due to the big differences in the growth of technology companies. Sony rose 1.47%, but Nintendo dropped 0.42%. Automobile manufacturers and retailers enjoyed good profits. Korean Kospi rose by 0.53%, with technological shares being the main culprit for that. ASX200 rose 0.26% after the Health and Information Technology sector enjoyed big profits early in the session. In China, Hang Seng rose 0.81% and Shanghai Composite and Shenzhen recorded a 0.31 and 0.95% drop.
FOREX: USD - The greenback is traded unchanged from most of its competitors after the temporary growth stemming from the vote on the tax reform by the House of Representatives. JPY - The yen recorded the strongest growth of 0.46% against the backdrop of North Korea's plans and the desire of investors to hedge some of the new stock market long positions. EUR and GBP rose 0.35% and 0.30%, reflecting David Davies' desire to postpone the next Brexit meeting for another week, and earlier today it became clear that Angela Merkel is already holding talks about a government.
Commodity market: WTI is trading unchanged during the Asian session, reflecting the expectation of investors waiting at OPEC's meeting at the end of the month to decide whether the productive abatement program of the producing countries will remain in place by the end of 2018. Gold has grown slightly, but growth has been limited due to strong growth. The precious metal is traded at around $ 1282 or a 0.36% increase.
European stock market: Despite the growth of US markets and Asia, European futures indicate that they will start the red session. Germany's Dax will open 20 points down 13 060. The French benchmark CAC40 is expected to start at 5333.7 or more than 10 points lower. The UKX will follow its counterparts from mainland Europe and start the session at 7372.6 or 16 points lower than yesterday's closing.
US Stock Market: Wall Street proved that Trump Trade is still in place after the Dow Jones rose by 0.80%, SP500 by 0.82%, and Nasdaq by 1.3%. The main drivers were CISCO and Wall-Mart, which grew by 6% and 10% respectively. The moves were dictated by good financial statements and, in addition, the Chamber of Deputies' voted tax reform.
Economic Calendar for European and US trade sessions:
10:30 Eurozone - Speech by Mario Draghi - President of the ECB
11:00 Eurozone - Current account
15:00 Germany - Speech by Jens Weidmann - President of the Bundesbank
15:30 US - Building permits
15:30 US - Housing starts
15:30 Canada - Consumer Price Index - CPI
20:00 US - number of oil platforms in the US by Baker Huges
US Equity Upgrades
ALASKA AIR (ALK) UPGRADED TO STRONG BUY FROM OUTPERFORM AT RAYMOND JAMES
BOOT BARN (BOOT) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN
CREDIT SUISSE (CS) UPGRADED TO NEUTRAL FROM UNDERPERFORM AT MACQUARIE
DICK'S SPORTING (DKS) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN
ENGILITY (EGL) UPGRADED TO BUY FROM HOLD AT NOBLE FINANCIAL
INGREDION (INGR) UPGRADED TO OVERWEIGHT FROM EQUAL WEIGHT AT STEPHENS
SANGAMO (SGMO) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT PIPER JAFFRAY
TESARO (TSRO) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT LEERINK
TYSON FOODS (TSN) UPGRADED TO BUY FROM HOLD AT ARGUS
YY (YY) UPGRADED TO BUY FROM HOLD AT JEFFERIES
US Equity Downgrades
BROADSOFT (BSFT) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT RAYMOND JAMES
CARDINAL HEALTH (CAH) DOWNGRADED TO HOLD FROM BUY AT ARGUS
CVR REFINING (CVRR) DOWNGRADED TO SELL FROM NEUTRAL AT UBS
IHS MARKIT (INFO) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT WILLIAM BLAIR
JOHNSON CONTROLS (JCI) DOWNGRADED TO NEUTRAL FROM POSITIVE AT SUSQUEHANNA
MACOM (MTSI) DOWNGRADED TO UNDERPERFORM FROM NEUTRAL AT BOFA/MERRILL
MARATHON PETROLEUM (MPC) DOWNGRADED TO NEUTRAL FROM BUY AT UBS
SMART SAND (SND) DOWNGRADED TO HOLD FROM BUY AT JEFFERIES
SNAP (SNAP) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT JMP SECURITIES
TECHNIPFMC (FTI) DOWNGRADED TO REDUCE FROM HOLD AT HSBC
TREEHOUSE (THS) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT BMO CAPITAL
UROGEN PHARMA (URGN) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT RAYMOND JAMES
US Equity Initiations
ALBIREO PHARMA (ALBO) INITIATED WITH A BUY AT ROTH CAPITAL
ANAPTYSBIO (ANAB) INITIATED WITH A BUY AT SUNTRUST
APPLE (AAPL) RESUMED WITH A MARKET PERFORM AT WELLS FARGO
ARISTA NETWORKS (ANET) RESUMED WITH A MARKET PERFORM AT WELLS FARGO
CISCO (CSCO) RESUMED WITH AN OUTPERFORM AT WELLS FARGO
COMMVAULT (CVLT) INITIATED WITH AN OUTPERFORM AT WELLS FARGO
CRAY (CRAY) INITIATED WITH AN OUTPERFORM AT WELLS FARGO
ELECTRONICS FOR IMAGING (EFII) INITIATED WITH A MARKET PERFORM AT WELLS FARGO
EXTRACTION OIL & GAS (XEG) INITIATED WITH AN OUTPERFORM AT IMPERIAL CAPITAL
FORTIVE (FTV) INITIATED WITH AN OUTPERFORM AT BMO CAPITAL
GALMED (GLMD) INITIATED WITH A BUY AT ROTH CAPITAL
HP ENTERPRISE (HPE) RESUMED WITH A MARKET PERFORM AT WELLS FARGO
HP INC. (HPQ) RESUMED WITH A MARKET PERFORM AT WELLS FARGO
JUNIPER (JNPR) RESUMED WITH A MARKET PERFORM AT WELLS FARGO
KARYOPHARM (KPTI) ASSUMED WITH A BUY AT H.C. WAINWRIGHT
NETAPP (NTAP) RESUMED WITH A MARKET PERFORM AT WELLS FARGO
NUTANIX (NTNX) INITIATED WITH AN OUTPERFORM AT WELLS FARGO
PLATFORM SPECIALTY PRODUCTS (PAH) REINITIATED WITH A NEUTRAL AT CREDIT SUISSE
PURE STORAGE (PSTG) RESUMED WITH AN OUTPERFORM AT WELLS FARGO
QUDIAN (QD) INITIATED WITH A BUY AT STIFEL
QUDIAN (QD) INITIATED WITH AN EQUAL WEIGHT AT MORGAN STANLEY
SEAGATE (STX) RESUMED WITH A MARKET PERFORM AT WELLS FARGO
SUPER MICRO COMPUTER (SMCI) INITIATED WITH A MARKET PERFORM AT WELLS FARGO
VBI VACCINES (VBIV) INITIATED WITH AN OUTPERFORM AT BMO CAPITAL
WESTERN DIGITAL (WDC) RESUMED WITH AN OUTPERFORM AT WELLS FARGO
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