- Home
- >
- Daily Accents
- >
- We expect a higher market open at the start of the session. Investor wariness likely before purchases.
We expect a higher market open at the start of the session. Investor wariness likely before purchases.
Rating:
Loading...Futures of US stock indices point to increases and a continuation of the upward trend of the past few days. However, we expect increased wariness from investors. In the last few days, market moods are changeable, indicating the tensions in political risks for the economy and the markets.
The escalation in the trade war continues. After President Donald Trump threatened to place tariffs on another $267 billion in Chinese imports (effectively imposing duties on every product imported from China), China is calling on the WTO to permit sanctions on the United States.
US producer prices meanwhile broke the strong upward trend in the past year: in August, PPI rose 2.3% versus 2.7% expected by analysts. For many traders, this may be an early indicator that end-user inflation in the US will stop rising and hence the Fed will raise interest rates more moderately in the future.
The Euro-dollar reacted to the news by shooting up to its resistance at about 1.16 from 1,156-1,157 earlier today. We will monitor the Euro-dollar for a break above 1.16. While PPI is not the preferred indicator of Fed inflation, a break above 1.16 may signal that traders believe the Federal Reserve will raise interest rates more smoothly.
Stocks to watch today:
Apple - At 20:00 Apple will introduce its new iPhone models as well as other new products such as cheaper MacBook Air. Apple shares have risen significantly in the past week, reflecting investor optimism.
NIO - Chinese electric vehicle company failed to achieve a strong performance of its IPO. The shares of the company sold at $ 6.25. This is the bottom of the range predefined for the offer: $ 6.25- $ 8.25.
Boeing - The company delivers 48 model 737 aircraft in August, compared with 29 in July.
Verizon - The telecom company will launch a 5G network in four cities: Houston, Indianapolis, Los Angeles and Sacramento. The news comes after AT & T also announced they will start offering a 5G network in the US.
Wells Fargo - The company was accused by regulators of selling misleading (and unnecessary) car insurance to its customers earlier this year. In an attempt to tackle the scandal, the company has offered to refund any injured cleints. The regulators, however, refuse the plan: they believe Wells Fargo has to do more to compensate deceived clients.
Tiffany - Oppenheimer's analysts upgraded the performance they expect from the stock from"perform" to "outperform".
Source: CNBC
Original post: Stocks making the biggest move premarket
Photo: pixabay.com
Varchev Traders Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
