Tag Archives: Apple Stocks

Facebook Earnings: Favourable Performance Expected To Continue

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: NZD Official Cash Rate @ 17.00 GMT

WHAT WE’RE WATCHING TODAY

Facebook Earnings: Favourable Performance Expected To Continue

Facebook’s Q2 2014 results are due today with expectations high considering the company’s performance in recent quarters. Analysts expect a significant year over year jump in ad revenues driven by higher ad pricing and the number of ad impressions. Although Facebook’s user base growth has slowed down, its revenue growth has accelerated on the back of innovation in ad format and delivery. Mobile will remain the focus, with the the mobile platform’s revenue contribution nudging close to 65%. Market watchers will be looking at how the company performs in international markets which is where the most of its incremental growth will come from in the future. Facebook saw 82% growth in its ad revenue during the first quarter of 2014, which was primarily driven by a 118% increase in its average ad pricing. This eclipsed Q4 2013 ad pricing growth of 92%, which is encouraging considering tougher year-over-year comparison. The growing proportion of feed-based ads was the primary reason behind this success.

In the coming quarters, Facebook is likely to focus on improving its monetisation in international markets. The push comes from the fact that despite harbouring most of the world’s population, Asia, Africa and South America haven’t contributed much to Facebook’s revenues suggesting that Facebook has a tremendous opportunity to increase monetisation in international markets.

Europe Shares Set For Lower Open

European shares are geared up for a lower open today after previous gains amid ongoing geopolitical concerns in Gaza and Ukraine. The FTSE is called down 15 points at 6,780 while the German Dax is seen lower by 22 points at 9,712. The European Union failed to announce any tough sanctions against Russia at a meeting on Tuesday. The U.S. was hoping for stricter penalties to be placed on Russia to push the country into cooperating with an international investigation into the downed Malaysian jet and calming the separatists in the eastern part of Ukraine. EU ministers drafted possible sanctions that could stem access to financial services and technology but they failed to put in place broader penalties.

Asian stock markets were mixed today with investors opting to book profits. U.S. stocks rose on Tuesday, lifting the S&P 500 to a record as Wall Street focused on quarterly earnings and fresh data releases.

Apple Beats Expectations On Strong IPhone Sales

Apple reported its second straight quarter of double-digit percentage growth in iPhone sales yesterday as it heads into a major update of its flagship product. The company sold 35.2 million iPhones in the quarter ended June 28, up 12.7% from the 31.2 million units in the year-ago period. The latest figure was just short of analysts’ projections for sales of 35.9 million iPhones. Strong iPhone sales were driven by demand from Brazil, Russia, India, and China with sales in those countries rising 55%, including a 48% increase in China alone. In the past few years, the June quarter has been the slowest for Apple as the company gears up with new products ahead of the year-end. Apple is counting on an expected new product push of larger iPhones and smart-watches before year-end to revitalise earnings that have flattened after more than a decade of remarkable growth, raising concerns that Apple is losing its innovative touch. Apple’s third quarter profit was $7.75 billion, up 12.3% from $6.9 billion in the year-ago period while earnings per share rose to $1.28 from $1.07. Revenue rose 6% to $37.43 billion from $35.32 billion in the same period a year earlier.

That sums up today’s highlights! Remember to keep in touch via our Facebook, Twitter, Google+ & LinkedIn pages for all the latest news on the days trading activities. We hope you have a profitable day on the markets.

German Industry Output Sees Biggest Fall In 2 Years

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: NZD NZIER Business Confidence @ 22.00 GMT

WHAT WE’RE WATCHING TODAY

German Industry Output Sees Biggest Fall In 2 Years

German industrial output fell 1.8 percent on the month in May, its biggest drop in more than two years, with analysts pointing to weakness in construction and geopolitical effects and the way public holidays fell. The drop came as a surprise particularly as industrial output was forecast to be unchanged. The second quarter is gradually turning into a massive disappointment. So far, May has brought disappointing retail sales, falling industry orders and now a significant fall in production. Even if some of this was down to missing days at work because of the bridge days, and might be recovered later, there has not been the momentum in the second quarter. The Economy Ministry did not specify which geopolitical areas were of concern but economists are worried about the Ukraine crisis and the impact on oil prices of the insurgency in Iraq. Following 0.8 percent growth in the first three months of the year, the German economy is widely expected to slow in the second quarter. The general state of the German economy is, nevertheless, not in question and is expected to be strong again. The government forecasts growth of 1.8 percent for the year as a whole on the back of strong domestic demand and a healthy jobs market.

Gold Falls As Strong Equities & Data Tarnish Safe-Haven Appeal

Gold nudged down on Monday as firm equity markets dented the precious metal’s safe-haven appeal, while speculation over an earlier than expected hike in U.S. interest rates after strong jobs data also took it’s toll on prices. Gold has been under pressure since data on Thursday showed U.S. employment growth increased in June and the jobless rate closed in on a six-year low, supporting evidence of brisk economic growth. Spot gold slipped 0.3 percent to $1,316.50 an ounce today after five consecutive weekly gains. A bullish U.S. jobs report prompted several economists to toy with the idea of bringing forward their forecasts for a Federal Reserve interest rate hike, although most held firm, preferring to wait for more data. A rate hike would dent gold’s appeal as a hedge against inflation. Geopolitical tensions in Iraq and Ukraine should, however, continue to underpin bullion and curb losses.

Shares To Watch: Apple Hires Tag Heuer Executive Before Smartwatch Launch

Apple is rumoured to have hired Swiss luxury watch maker Tag Heuer’s Watch-Sales Head, Patrick Pruniaux, in anticipation of its October launch of its smart-watch - a sign that the company is positioning its iWatch device as a luxury item. Last month, it was reported that the iWatch will be marketed primarily as a fashion accessory, despite featuring multiple health-monitoring and fitness-tracking sensors. The rumours about the health-monitoring aspects of the iWatch were further bolstered when Apple unveiled the HealthKit data storage platform at the Worldwide Developers Conference last month. It has also been suggested that Apple will release multiple iWatch models which may be geared toward different market segments with at least two different versions of the iWatch planned for release. One model may be aimed at the luxury watch market, while a less expensive version may be aimed at the mainstream wearable tech market. While the exact nature of the iWatch launch remains to be seen, it is likely to have the same status symbol power as many other Apple products with the potential to be a threat for the industry.

That sums up today’s highlights! Check out our Facebook, Twitter, Google+ and LinkedIn pages for all the latest trading news of the day. We hope you have a profitable day on the markets.

U.S. Growth Evident But Consumers & Businesses Still Penny Pinching

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: U.S. Existing Home Sales @ 14.00 GMT

WHAT WE’RE WATCHING TODAY

U.S. Growth Evident But Consumers & Businesses Still Penny Pinching

The American job market is on the way up with an increase in hiring and U.S. manufacturers are growing faster. The economy finally seems to have emerged from its winter slow down and is now on an upbeat path….However, Americans are spending less than they used to, a big hindrance for an economy that relies heavily on consumers to generate growth. The slower pace of consumer spending can be traced to a prolonged period during which businesses have invested below their historical norm. Markets will get another look this week at whether the trends in consumer spending and business investment took a turn for the better in May but economists don’t expect a huge improvement. An update on new homes sales is due and the government is likely to report that the economy shrank even more sharply in the first quarter than previously estimated. Although an improving economy is visible, it still has a long way to go before a five-year-old recovery can be considered in good shape. These days, it’s not as easy for prospective buyers get a home loan as financial companies don’t want to make the same mistake they made before the recession by accepting customers who pose any credit risk. The third and final revision to first-quarter gross domestic product probably won’t bring any cheer the markets either as the government is expected to report that U.S. growth contracted by 2% instead of 1% as previously reported which would be the biggest decline since the tail end of the 2007-2009 recession.

The case for faster U.S. growth in the second quarter of 2014 and beyond rests on the hope that businesses and consumers will spend more although so far this year, companies haven’t toed the line. Business investment as measured by a category known as core capital goods fell in April and it’s only rising at a modest 3.5% rate over the past three months. Durable goods orders for May, released on Wednesday, is unlikely to show a marked shift in business investment either. As for consumers, they did more shopping in the early spring and spending is likely to rise in May, but spending is running at just two-thirds the typical rate this far into an economic recovery. Part of what’s holding them back is a paltry increase in wages even though more companies are hiring and job opening are at a post-recession high. After inflation is taken into account, wages are basically flat over the past year. Yet while Fed officials expect unemployment to fall even faster than they predicted just a few months ago, they haven’t changed their growth forecasts for the next two years. As market watchers know, faster U.S. growth depends on willingness to spend and invest…

Oil Gains On Increasing Iraq Violence

West Texas Intermediate rose for the third day and Brent gained as militants in Iraq seized more territory and President Obama warned that the crisis may spill over into other countries. August futures climbed as much as 0.6 percent in New York. A Chinese manufacturing gauge rose to a seven-month high in June, indicating that the economy of the world’s second-biggest oil user is picking up. WTI for August delivery rose by 62 cents to $107.45 a barrel. The July contract expired at $107.26 on June 20. The volume of all futures traded was about 1 percent above the 100-day average. Front-month prices have increased 8.9 percent this year. Brent for August settlement gained as much as 47 cents, or 0.4 percent, to $115.28 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude traded at a premium of $7.96 to WTI, from $7.98 on June 20.

Apple iWatch Due To Begin Production

Taiwan’s Quanta Computer will start mass production of Apple’s first smartwatch in July, as the company attempts to prove it can still compete against rival Samsung Electronics. The watch will be Apple’s first foray into a niche product category that many remain skeptical about, especially as to whether it can drive profits amid cooling growth in tech gadgets. Apple is expected to ship 50 million units within the first year of the product’s release. Mass production will start in July and the commercial launch will come as early as October. The company is accountable for at least 70 percent of final assembly. LG Display Co is said to be the exclusive supplier of the screen for the gadget’s initial batch of production. The iWatch also contains a sensor that monitors the user’s pulse for which Singapore-based imaging and sensor maker Heptagon is on the supplier list for the feature.

That sums up today’s highlights! Keep checking in for all the latest news on the day’s trading events via Facebook, Twitter, Google+ & LinkedIn. We hope you have a profitable day on the markets.

What Will Apple Reveal This Week?

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: GB Manufacturing PMI @ 08.30 & U.S. ISM Manufacturing PMI @ 14.00 GMT

WHAT WE’RE WATCHING TODAY

What Will Apple Reveal This Week?

Apple’s Worldwide Developer Conference starts today amid speculation about what the company is planning to reveal. Rumours are that Apple’s lineup this year will be the best in 25 years. Although consumers will likely have to wait until later this year for big product announcements, industry experts say that the company may roll out some new features in its software at the conference. The focus is expected to be on two big themes; health and connecting the home. For Apple, it’s all about having all the devices connected and getting people even more locked into their ecosystem and adding value to devices that users already have. The company’s competitors, including Google, which recently bought the smart thermostat company Nest, are all making plays in this space and time is ticking for Apple to do the same. Presently, it is a fragmented experience and the plan is to start connecting things together which Apple will do by using the iPhone. Related to improving Apple’s home experience, the company may also implement voice-enabled Siri capabilities in Apple TV which would help the company compete with Amazon’s Fire TV. In addition, there are rumours of the next iPhone and iPad having larger screens and that the updated operating system will enable split-screen capabilities on the iPad. This would help it compete with the growing number of tablets flooding the enterprise space. A revealing week ahead for Apple watchers, traders will be watching the markets for movements in the price of Apple stocks.

ECB Expectations Pressure Euro

The euro came under pressure today as the market braced for further stimulus measures from the European Central Bank this week. Hopes for policy action at Thursday’s ECB policy review have been high since ECB president Mario Draghi said in Portugal last week that the central bank must be prepared to take action if risks surrounding persistently low inflation emerge. The ECB is thus preparing a package of policy options for its meeting that includes cuts in all its interest rates. In the markets, the focus is shifting to what the Governing Council could do to ‘surprise’ the markets, such as signaling that more aggressive unconventional quantitative easing measures could be forthcoming. Analysts point out that if the ECB does not surprise markets, there could be some cautious profit taking on the EUR, and add that risks for EUR could be on the downside over the medium term. The euro edged down slightly to $1.3627, and remained not far from a three-month low of $1.3586 touched on Thursday.

Gold Falls In Longest Losing Streak In 7 Months

Gold fell for a fifth straight session today in its longest losing streak since November, affected by stronger global equities and weak physical demand in Asia. Spot gold had eased 0.2 percent to $1,247.89 an ounce, not too far from a 4-month low of $1,241.99 hit on Friday. The five-day fall is the metal’s longest losing run since October/November when it dropped for seven straight days. The technical outlook for gold is not looking very good and there is a strong chance it will fall to $1,230 and possibly all the way $1,200. Physical markets haven’t reacted very much to last week’s drop but if prices fall to $1,200, there could be some action. Physical buying failed to pick up as consumers expect gold prices to fall even further. Other data also showed that hedge funds and money managers cut their bullish bets in gold futures and options in the latest week to their lowest level in nearly four months, another sign of waning investor interest in the metal amid higher equities. An early or quick gold turnaround is not expected as the market may not have bottomed yet.

That sums up today’s highlights! It’s a busy week on the market so ensure you’re up-to-date with all the latest news via our Facebook, Twitter, LinkedIn and Google+ pages. We hope you have a profitable day on the markets.

U.S. Economy Back On Track

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets.

WHAT WE’RE WATCHING TODAY

U.S. Economy Back On Track As Strong Retail Spending Adds To Momentum

The U.S. economy is back on track after a difficult first quarter and it is not expected to cool off again anytime in the near future. A number of economic reports this week, spearheaded by sales at retail stores, are expected to show a faster pace of growth in April and May. Furthermore, trends point to the nation’s gross domestic product increasing in the second quarter after little growth in the first quarter of the year. Part of the snapback in growth reflects spending and investment that normally would have taken place in the first quarter had it not been for the severe weather. The prospect of the momentum extending beyond the second quarter is likely to rest mainly on whether companies continue to add workers. Job gains have averaged 238,000 a month since February which is the second best three-month stretch since the recession ended.

However, the recovery has been uneven since it began in mid-2009 and analysts are not ready to declare good times are here to stay after years of disappointing growth. The unexpected hiccup in the housing market is one of the biggest threats to the rosy scenario for the U.S. economy beyond the second quarter. Sluggish sales could dampen demand for a variety of goods that new owners need to buy for their homes and hurt retailers in the process. In April, economists predict that builders started work on more new homes and permits for new construction also rose. However, both permits and new construction are still likely to remain below the post-recession highs set in November and December.

CBI: U.K. Interest Rates Will Rise From Early-2015

Encouraging signs that the U.K. recovery is becoming more broad-based has led the Confederation of British Industry to raise its 2014 and 2015 growth estimates for the U.K. It now expects the U.K. economy to expand by 3 percent this year and by 2.7 percent in 2015, up from previous expectations of 2.6 percent and 2.5 percent respectively. Interest rates are expected to start rising in the first quarter of 2015. In the first quarter of this year, Britain posted GDP growth of 0.8 percent quarter-on-quarter, marking the fifth consecutive quarter of expansion.

However, as 2015′s general election looms, the CBI warned that political uncertainty could threaten the U.K.’s recovery and that the priority for the next government should be to keep the deficit reduction strategy on track, to tackle the U.K.’s economic challenges and to reform public services. The CBI also highlighted that business investment in the U.K. was on the rise. In the final quarter of 2013 it was 8.7 percent higher than the year before, and the trend is gaining momentum. It now expects business investments to grow by 8.3 percent this year and by 9.1 percent in 2015.

Is Beats Electronics Worth $3.2 Billion? Some Analysts Say Why Bother?

It was reported last week that Apple would be interested in acquiring Beats Electronics, the well-known headphone maker and music streaming distributor, for $3.2 billion founded by Dr. Dre. Although, at $3.2 billion this would be Apple’s largest acquisition to date, $3 billion is less than two percent of the company’s cash and less than ten percent of its annual free cash flow, in the overall scheme of things, it’s not a deal that is going to have a material impact on results. However, the change in Apple’s acquisition strategy will generate some questions for management and the Board of Directors. Some are struggling to see the rationale behind this move. Beats would undoubtedly bring a world class brand in music to Apple, but have pointed out that Apple already has a world class brand and has never acquired a brand for a brand’s sake. Beats does not have any intellectual property that would drive the acquisition justification beyond the brand. Instead, analysts believe that Apple’s cash should be utilised for acquisitions in the internet services space, which happens to be Apple’s biggest weakness. Traders will be watching the market for news…If Apple completes a $3.2 billion acquisition of Beats, Carlyle Group which owns just under 50% of Beats will bank a near $1 billion profit.

That sums up Monday’s highlights!

We hope you have a profitable day on the markets!

U.S. Unemployment Claims, Mario Draghi Speaks

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: USD Unemployment Claims @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

Economic Data…U.S. Unemployment Claims, Mario Draghi Speaks

New jobless claims registered last week remained low at 304,000, near their pre-recession levels, following 302,000 posted in the previous week. Economists predict claims will climb to 315,000 in the week ended April 19 due in part to the Easter holidays where it is usual for claims to rise. Layoffs are reported to be trending lower and hiring is finally starting to gain momentum after being held back by severe weather earlier in the year, with recent jobless claims hitting their lowest levels in almost seven years.

ECB President Mario Draghi is also due to speak at a conference in Amsterdam today. He is expected to comment on the low inflation rate in the Eurozone. Market volatility is expected due to Draghi’s heavy handed approach on the euro.

Apple Earnings Drive Stocks

Apple impressed investors with a big earnings beat on Wednesday evening as well as another big stock buyback and a dividend hike. Shares jumped 7.8 percent in afterhours trading and are expected to boost sentiment on Wall Street. The stock shot up more than 8 percent in after-hours trading to $567.50. Apple Chief Executive, Tim Cook said the company chose to expand its stock-buyback program by $30 billion because it views its shares as undervalued. The company said it would boost the overall size of its capital return program to more than $130 billion by the end of 2015, up from its previous $100 billion plan. After more than a decade of remarkable earnings growth, the technology giant’s revenue and profit are flattening and the company is fighting the perception that its best days are behind it. Apple said net income was $10.22 billion in its fiscal second quarter ended March 29 versus $9.55 billion in the year-ago period. Revenue rose to $45.6 billion from $43.60 billion in the same period a year earlier. Apple’s earnings per share rose to $11.62 from $10.09, because the company’s stock repurchase program decreased the pool of total shares. Analysts, on average, estimated that Apple would post earnings of $10.18 per share on revenue of $43.53 billion.

European shares are also set for a higher open today on the back of Apple’s earnings. The FTSE is called up 18 points at 6,693, the German Dax is seen higher by 46 points at 9,590 and the French CAC is seen up 19 points at 4,470.

Gold Edges Up On Ukraine & U.S. Housing Data

Gold edged up today but held near a more than two-month low, dimming its appeal as an alternative investment. Bullion for immediate delivery rose as much as 0.3 percent to $1,287.08 an ounce, and traded at $1,287.06 at 11:40 a.m. Prices fell to $1,277.69 on April 22, the lowest level since Feb. 11. Gold has rallied 7.1 percent this year, rebounding from the worst annual drop in more than three decades as unrest in Ukraine, a rout in emerging markets and concern that the U.S. recovery may be losing momentum fueled demand. Investors are now waiting for the release of U.S. jobless claims and durable goods orders data for clues on the health of the world’s largest economy ahead of next week’s meeting of the Federal Reserve Open Market Committee on interest rates.

That sums up today’s highlights! You can find all the latest daily trading news and developments via our Facebook, Twitter, Google+ and LinkedIn pages. We hope you have a profitable day on the markets!

Lackluster U.S. Home Sales For March

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: USD Existing Home Sales @ 14.00 GMT

WHAT WE’RE WATCHING TODAY

Lackluster U.S. Existing Home Sales Expected For March

Monthly sales data due today is expected to reveal lackluster rates in March as existing home sales likely fell by 1.0% to a 4.57 million unit rate. Pending home sales have remained weak, with a 0.8% decline in February after a 0.2% decline in January, suggesting limited momentum for completed sales. Total housing inventory was up in February, although the number of homes for sale was still low, indicating that constraints on the supply side are also likely to continue to hold back the sales pace. Analysts are, however, expecting a sharp spring rebound with some strengthening in home sales as an increase in projects and purchases delayed by bad weather proceed.

Is The Long Bull Market Set For A Summer Correction?

As the markets head towards the summer, analysts are becoming increasingly concerned that the long bull market in stocks is set for a correction. The S&P is now nearly 1 percent higher for the year, after rising around 30 percent last year, but it is still down over 1 percent from the all-time high it reached in early April. The Dow Jones Industrial Average is off around 1 percent this year, after climbing over 22 percent last year. Market watchers point out that the market could react to any number of factors, such as an escalation of tensions in Ukraine, deleveraging in China or even if the Federal Reserve’s moves to taper its asset purchases prove to be too fast. A correction could be as much as 8 percent over a four to six week period. Earlier this month we experienced a correction in social media stocks with high-flying momentum names in Internet and social media sectors sold off sharply. The Nasdaq index dropped as much as 9.7 percent from its March high, flirting with the official correction level of 10 percent, before retracing some losses. The index is still down nearly 4 percent from its early April high. Many U.S. listed technology stocks entered a bear market, experiencing a loss of at least 20 percent, with more funds flowing into stocks considered defensive or lower risk. If conditions deteriorate, analysts expect the Fed may hold off on tapering which would boost prices again, while noting the correlation between the Fed’s moves to increase its balance sheet by buying assets and gains in stocks is around 90 percent.

Apple Among Top Tech Market-Value Losers As Facebook Posts Gains

The technology selloff has seen off large chunks of value, highlighted by big market cap drops in the sector’s high-fliers led by Apple and Amazon. Apple has shed about $28 billion in market cap since the beginning of the year, a 6% drop as Twitter’s market value has fallen 26%, as its market capitalisation fell by $9 billion. Other big name technology stocks have seen substantial cuts in market value: LinkedIn fell by nearly $5 billion, or a loss of 18% while Yahoo dropped by $4.5 billion. A notable exception in the downward trend is Facebook which has seen its market value grow by nearly $15 billion, or 11%, since the beginning of the year. Investors appear to be turning to more mature tech powerhouses amid the uncertainty, for example, Microsoft, which has seen its market value climb 7% by $22 billion. According to analysts, there is something of a bubble going on in tech, and with those except Apple who have really high multiples, it is easy to see how concerns about an overheated market would cause people to flee high-multiple stocks and to seek refuge in lower-multiple stocks.

That sums up today’s highlights! Keep up with all the latest trading events of the day via our social media channels - we’re on Facebook, Twitter, Google+ & LinkedIn.

We hope you have a profitable day on the markets!

Just A Minute!

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the markets:

Main Trading Events Of The Day: USD PPI m/m @ 12.30 & USD Prelim UoM Consumer Sentiment @ 13.55 GMT

WHAT WE’RE WATCHING TODAY

Markets Await US PPI & Consumer Sentiment Reports

With U.S. PPI data due later today, the government will probably report that wholesale prices rose a mild 0.2% in February to match the increase in January. Wholesale prices reflect the costs that companies pay for raw or semi-finished products and services before they sell them to consumers. The government has revamped the produce price index to include the cost of services, government purchases, exports and construction. The old PPI only included wholesale goods and covered just a small portion of all goods and services produced in the United States. The first PPI compiled under the new formula showed basically no change in inflationary patterns in January. Wholesale prices have risen just 1.2% in the past 12 months.

Consumer sentiment forecasts reveal slight differences. According to a Thomson Reuters report, the consumer sentiment survey for March is forecast to fall slightly to 80.8 from 81.6 in February. Over the past year the survey has ranged from a high of 85.1 in July to a low of 73.2 in October. Another report predicts a rise of 0.4 points to 82.0, based on the fact that weekly consumer confidence indicators improved into March with the Bloomberg Consumer Comfort Index for the week ending March 2 showing its strongest level since the beginning of January. Higher gasoline prices may weigh on sentiment, but equity indices have moved higher since the end of February which likely boosted the consumer outlook at the beginning of the month.

USD PPI m/m @ 12.30 & USD Prelim UoM Consumer Sentiment @ 13.55 GMT

Gold Hits Fresh Six-Month Highs On Ukraine/China Worries

Gold rose to fresh six-month highs on Friday heading for its biggest weekly gain in four weeks, supported by increasing tensions between Russia and the West over Ukraine and worries over an economic slowdown in China. The metal has gained nearly 3 percent this week, marking its sixth straight weekly rise, as investors exited riskier assets such as equities. While money flowing into gold-backed exchange-traded funds has increased, reflecting confidence in the metal’s outlook, physical demand has slowed as higher prices put off buyers, making some cautious about how long the rally can last. Demand in China, the world’s biggest bullion consumer, has fallen with prices on the Shanghai Gold Exchange about $3 an ounce lower than London prices, compared with a premiums of over $20 earlier this year. Physical buying in other Asian regions has also slowed, with some selling to make a profit from rising prices. Gold is getting its biggest support from the crisis in Ukraine. Data on Thursday showed China’s economy slowed markedly in the first two months of the year, with growth in investment, retail sales and factory output all falling to multi-year lows.

Next From Apple: A Pedometer That Never Misses Steps?

With a constant stream of innovative tech releases, it’s always interesting to keep any eye on Apple stocks. So, what’s next on Apple’s agenda? According to reports, the next big release that Apple has up its sleeve is a smart pedometer. Documents released Thursday at the U.S. Patent and Trademark Office show that the company is working on a device to more accurately measure a person’s movement, presumably for a health-monitoring wearable device. Apple is expected to take the iWatch mainstream and expects it to reach the public later in 2014. The patent covers a smart wrist-mounted pedometer that can automatically determine its location on a user’s body and compensate for missed steps using advanced processing algorithms. Analysts are looking for the tech giant whose stock is down slightly from the beginning of the year to introduce new product categories to excite buyers again. Keep an eye on those Apple stocks!

That sums up today’s highlights! Don’t forget to keep up with all the latest market developments via our social media channels! We hope you have a profitable day on the markets and a great weekend - we’re back on Monday!