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- Varchev Finance: Trading day in one post 9.11.2017
Varchev Finance: Trading day in one post 9.11.2017
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Loading...Asian Borse Market: Asian indices posted a rise on Thursday. Japan's Nikkei climbed 1.98% and passed above the key level of 23,000. Korean Kospi is 0.18% in green territory. The Australian ASX also did not stay behind, rising by 0.51%, with the mining industry making the biggest contribution to the Australian benchmark. China's indices also added to their values. Shanghai composite is with 0.1% increase, Shenzhen composite by 0.27% and Hang Seng by 0.76%. President Trump's statement was under the spotlight during the Asian session. The US president made a statement in Beijing where he discusses the trade deficit between China and the United States.
FX Market: USD: The dollar remains below the key level of 1.1670. It seems that the bulls of the EUR are tired and in their place come those of the USD. In the short term, we expect an increase in USD mainly due to speculation that the interest rate rise in December will happen. From a technical point of view, EUR/USD has formed Head & Shoulders and has pierced the neckline of the figure. It is more likely to see appreciation of the US currency. NZD: During the Asian Hours, RBNZ announced that it would leave the interest rate unchanged in the country: 1.75% (which is a record low for the bank). The Monetary Report, however mentioned that interest rate hikes would start in 2019 and the economy as a whole is performing well. We remain positive towards the NZD. JPY: yen's depreciation is continuing. Lack of global uncertainty discourages investors to pour capital in hedging instruments like JPY. It also appears that BoJ will be the only central bank that will not raise its interest rate this year or reduce its quantitative easing. All of these factors weigh on JPY and we can look for short positions for any convenient correction.
Commodities market: OIL continued its rise during the Asian session as WTI reached $ 56.90 a barrel, and Brent reached $ 63.50 a barrel. Political uncertainty in Saudi Arabia has freed the way for oil and black gold is highly valued at the moment. Another factor is that OPEC's agreement remains in force as mining cuts remain unchanged. GOLD: Gold is currently in consolidation. Expectations to raise interest rates, as well as rising inflation in the US, have a negative effect on the price of the metal. But we have not seen a serious decline. This means that investors do not want to abandon the precious metal completely.
European stock market: We expect European indices to start the session with a small decrease. The German DAX will open around 13,385, the French CAC will open around 5470 and the UKX around 7515. The better data we saw during the Asian session from China will most likely positively influence indexes after the stock market is open the possible drop is quickly erased.
US Stock Exchange Market: US indices closed the session on Wednesday with an increase. DJIA climbed 0.03%, with Wal-Mart being the best performing stock in the index, which rose 1.8%. S&P jumped 0.14% and Nasdaq 0.32%. Today the market engine will be the fiscal statements of the companies. We expect fiscal results for the third quarter from: Kohl, Macy's, Nvidia, Walt Disney and others.
Economic calendar for the European and American trade sessions 09.11.2017
8:45 Switzerland - Unemployment rate
9:00 Germany - Trade balance
11:00 EU - Economic bulletin
12:00 EU - Economic forecasts
15:00 UK - NIESR GDP Forecats
15:30 USA - Initial jobless claims
15:30 Canada - New housing price index
18:30 Switzerland - SNB Gov Thomas Jordan speaks
US Equity Upgrades
AARON'S (AAN) UPGRADED TO BUY FROM HOLD AT LOOP CAPITAL
ARISTA NETWORKS (ANET) UPGRADED TO OUTPERFORM FROM SECTOR PERFORM AT RBC CAPITAL
ATLAS AIR (AAWW) UPGRADED TO BUY FROM HOLD AT STIFEL
CHUBB (CB) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN
FIRST HORIZON (FHN) UPGRADED TO STRONG BUY FROM OUTPERFORM AT RAYMOND JAMES
GENERAL MILLS (GIS) UPGRADED TO HOLD FROM SELL AT SOCIETE GENERALE
GREAT AJAX (AJX) UPGRADED TO BUY FROM NEUTRAL AT COMPASS POINT
GREEN DOT (GDOT) UPGRADED TO BUY FROM NEUTRAL AT BTIG
HAIN CELESTIAL (HAIN) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT BERNSTEIN
IZEA (IZEA) UPGRADED TO BUY FROM HOLD AT CRAIG-HALLUM
QUALCOMM (QCOM) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT RAYMOND JAMES
QUALCOMM (QCOM) UPGRADED TO OUTPERFORM FROM SECTOR PERFORM AT RBC CAPITAL
STEWART (STC) UPGRADED TO MARKET PERFORM FROM UNDERPERFORM AT KEEFE BRUYETTE
SUPERNUS (SUPN) UPGRADED TO BUY FROM HOLD AT STIFEL
TAKE-TWO (TTWO) UPGRADED TO OUTPERFORM FROM NEUTRAL AT BAIRD
UMPQUA (UMPQ) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT KEEFE BRUYETTE
VIRTU FINANCIAL (VIRT) UPGRADED TO NEUTRAL FROM SELL AT CITI
US Equity Downgrades
ALCENTRA CAPITAL (ABDC) DOWNGRADED TO UNDERPERFORM FROM OUTPERFORM AT RAYMOND JAMES
AMPLIFY SNACK BRANDS (BETR) DOWNGRADED TO HOLD FROM BUY AT SUNTRUST
ANDERSONS (ANDE) DOWNGRADED TO NEUTRAL FROM BUY AT BUCKINGHAM
BROWN & BROWN (BRO) DOWNGRADED TO SELL FROM NEUTRAL AT CITI
CBL & ASSOCIATES (SBL) DOWNGRADED TO UNDERPERFORM FROM NEUTRAL AT MIZUHO
COGNEX (CGNX) DOWNGRADED TO UNDERWEIGHT FROM NEUTRAL AT JPMORGAN
CORELOGIC (CLGX) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT WILLIAM BLAIR
E.L.F. BEAUTY (ELF) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT PIPER JAFFRAY
ELLINGTON FINANCIAL (EFC) DOWNGRADED TO NEUTRAL FROM BUY AT B. RILEY FBR
MALLINCKRODT (MNK) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT BARCLAYS
MALLINCKRODT (MNK) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT WELLS FARGO
MALLINCKRODT (MNK) DOWNGRADED TO NEUTRAL FROM BUY AT GOLDMAN SACHS
NATIONAL CINEMEDIA (NCMI) DOWNGRADED TO UNDERWEIGHT FROM NEUTRAL AT JPMORGAN
ONEMAIN HOLDINGS (OMF) DOWNGRADED TO NEUTRAL FROM BUY AT BOFA/MERRILL
ROCKWELL COLLINS (COL) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT CREDIT SUISSE
SALLY BEAUTY (SBH) DOWNGRADED TO UNDERWEIGHT FROM EQUAL WEIGHT AT MORGAN STANLEY
SCOTTS MIRACLE-GRO (SMG) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT JPMORGAN
SNAP (SNAP) DOWNGRADED TO HOLD FROM BUY AT STIFEL
SNAP (SNAP) DOWNGRADED TO SECTOR PERFORM FROM OUTPERFORM AT RBC CAPITAL
SNAP (SNAP) DOWNGRADED TO SELL FROM NEUTRAL AT UBS
SNAP (SNAP) DOWNGRADED TO UNDERWEIGHT FROM NEUTRAL AT JPMORGAN
TAUBMAN CENTERS (TCO) DOWNGRADED TO NEUTRAL FROM BUY AT MIZUHO
VERITIV (VRTV) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT WELLS FARGO
US Equity Initiations
ACCENTURE (ACN) INITIATED WITH A BUY AT PIVOTAL RESEARCH
ABEONA THERAPEUTICS (ABEO) INITIATED WITH A BUY AT SUNTRUST
ACORDA THERAPEUTICS (ACOR) INITIATED WITH A BUY AT H.C. WAINWRIGHT
ASSEMBLY BIOSCIENCES (ASMB) INITIATED WITH A BUY AT JEFFERIES
COGNIZANT (CTSH) INITIATED WITH A BUY AT PIVOTAL RESEARCH
COGENTIX MEDICAL (CGNT) RESUMED WITH A BUY AT ROTH CAPITAL
OMEROS (OMER) INITIATED WITH A BUY AT H.C. WAINWRIGHT
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