Tag Archives: S&P 500

Dollar Holds Longest Yen Gains Since 2005 Following U.S. GDP

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

Dollar Holds Longest Yen Gains Since 2005 Following U.S. GDP

There are clear signs that the U.S. economy is strengthening as the dollar headed for its biggest monthly gain versus the euro since February last year. The dollar has risen versus all except one of its 16 major counterparts in July as reports have shown gross domestic product rebounded, consumer confidence improved and durable goods orders increased. Economists predict that NFP data tomorrow will reveal that employers added more than 200,000 jobs for a sixth month. The dollar was little changed at $1.3396 per euro having advanced 2.2 percent this month. It appreciated to $1.3367 yesterday, the strongest since Nov. 12. The U.S. currency traded at 102.78 yen from 102.79 in New York, having risen for the previous nine trading days.

So far, the Fed has nevertheless given no signs of being in a hurry to raise interest rates. Yesterday, it delivered a slightly more upbeat assessment on the economy and scaled back its monthly bond-buying program by another $10 billion in a widely expected move. Traders expect markets to now take stock of the overnight moves and wait for the next batch of key data including U.S. non-farm payrolls tomorrow.

U.S. Stocks Higher As Fed Calms Rate-Hike Fears

U.S. stocks ended a choppy session slightly higher, as the Federal Reserve appeared to ease fears that it will start raising interest rates sooner than anticipated. Following yesterday’s FOMC meeting, the Fed said the economy is improving but emphasised that significant slack remains in the labour market. The central bank gave no hint of timing of the first rate hike and repeated that it expects that to come a considerable time after the end of its bond-buying program. The S&P 500 closed up less than a point at 1,970.08. The Dow Jones Industrial Average finished off session lows, but with a loss of 31.75 points to 16,880.36. The Nasdaq Composite added 20.20 points to 4,462.90. Tech stocks shone amid a buying frenzy in Twitter after the social media network’s results exceeded forecasts. Its shares leapt 22% as analysts moved up price targets in the wake of blowout results. European stocks closed mostly lower, while in other markets crude oil and gold both lost ground.

Gold Stays Below $1,300 On U.S. Economic Optimism

Gold held overnight losses to trade below $1,300 an ounce today and looked likely to extend declines to a fourth day as optimism over U.S. economic growth curbed safe-haven appetite for the metal. Spot gold was flat at $1,295.20 an ounce after dropping 0.3 percent in the previous session. If U.S. data continues to beat expectations, the metal will come under further long liquidation. According to some analysts, gold is poised to break support at $1,292 and fall further to $1,284, as indicated by its wave pattern and a Fibonacci projection analysis.

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

Euro Declines Before German Sentiment & Elections

Here’s our a 60 second summary of what’s happening in the financial markets:

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

WHAT WE’RE WATCHING TODAY

Euro Declines Before German Sentiment & Elections

The euro was set for a three-week decline today before data that may show German business confidence fell and prompt the European Central Bank to boost stimulus as soon as next month. The Euro approached a three-month low versus its U.S. peer amid concern that euro-skeptic parties will gain ground in elections for the European Union Parliament. The dollar remained higher against most major counterparts before a U.S. report due today that may indicate an increase in new home sales last month. The euro bought $1.3651 from $1.3656 after touching $1.3635 on May 21, the weakest since Feb. 13 and fetched 138.81 yen from 138.93.The dollar was little changed at 101.72 yen after climbing 0.4 percent yesterday. The euro has fallen 0.3 percent since May 16, extending a 1.3 percent decline in the previous two weeks.

U.S. Stocks End Higher For Second Day

U.S. stocks rose modestly yesterday, extending the prior day’s rally, as investors weighed varied economic reports a day after the Federal Reserve signaled interest rates would remain low for the foreseeable future. Yesterday’s data included the Markit Economics preliminary index of U.S. manufacturing, which rose to 56.2 this month from 55.4 in April. Other reports had sales of previously owned homes rising last month, the Conference Board’s index of leading economic indicators gaining in April and more Americans than estimated filing claims for jobless benefits last week. After a 43-point fall and 32-point gain, the Dow Jones Industrial Average rose 10.02 points, or nearly 0.1 percent, to 16,543.08. After rising within 2 points of its record close, the S&P 500 added 4.46 points, or 0.2 percent, to 1,892.49 while the dollar gained against the currencies of major U.S. trading partners.

Gold Trades Below $1,300 As Palladium Continues To Rise

Gold traded below $1,300 an ounce this week as investors assessed the health of the U.S. economy and the impact on monetary stimulus. Platinum and palladium were poised for a second week of gains. Bullion for immediate delivery traded at $1,294.13 an ounce today after climbing 0.2 percent yesterday, following data that showed U.S. jobless claims rose more than forecast. Gold has advanced 7.7 percent this year partly on tension in Ukraine and concern that the U.S. economic recovery may be fragile. U.S. data continues to be mixed which keeps gold in a tight trading range.

That sums up today’s highlights! All the latest trading updates can be found on our Facebook, Google+, Twitter and LinkedIn pages - stay in touch!

We hope you have a profitable day on the markets.

Just A Minute!

Welcome to Tuesday’s ‘Just A Minute’. Here’s a 60 second summary of some of the key market activities today:

Main trading events of the day: UK Construction PMI @ 09.30 GMT & U.S. Factory Orders @ 15:00 GMT

Stocks to watch: Buffalo Wild Wings Inc, Hillenbrand Inc & Sirius XM Holdings. Twitter & LinkedIn shares edge higher ahead of reports later this week.

Other trading news: Gold holds advance as concern that global growth may be faltering sends equity markets lower and boosts demand for haven assets.

What We’re Watching Today:

Market Watch: More Selling Ahead

The S&P 500 broke below an important trend line yesterday, and technicians are seeing more selling ahead. Whether this means the start of a bear market remains to be seen but at the very least, there’s going to be a very severe, very sustainable and really quite an ugly correction. The S&P 500 is down 5.7 percent since the start of the year, and it fell 2.3 percent Monday. The S&P ended the day at 1741, and selling accelerated when it broke through 1770, a level it tested and held last week. According to the Stock Trader’s Alamanc, “A bear market requires a 30 percent drop in the Dow Jones Industrial Average after 50 calendar days or 13 percent decline after 145 calendar days. Reversals of 30 percent in the Value Line Geometric Index since 1965 also qualify.”

Eurozone:

Deflation fears: Will The ECB Pull The Trigger Again?

Another low inflation shock in the eurozone has increased the pressure on the European Central Bank (ECB) to act, with some economists arguing that a rate cut could be announced as soon as this week. The focus will be on ECB President Mario Draghi this Thursday following the central bank’s policy meeting, with economists expecting him to act sooner rather than later. Concerns that the 18-nation currency bloc was headed for deflation were boosted further on Friday, when official data revealed that inflation fell to 0.7 percent in January – below the 0.9 percent expected by economists, and significantly lower than the ECB’s 2 percent target. Although the ECB remains in a wait-and-see mode, it is likely that it will be forced to act and this is only a question of time.

Tech:

Investors Eye Microsoft Breakup

Microsoft’s new leadership could almost double the company’s valuation by parting with a good chunk of the businesses it uses to court consumers. Offloading units such as Xbox video-game consoles and the Bing search engine may be the change Microsoft needs to stimulate growth as it prepares to make Satya Nadella chief executive officer. Some analysts believe that Microsoft should go further by also splitting off Windows and smartphones to focus on providing services to business customers. Former CEO and co-founder Bill Gates is weighing giving up his title as chairman, but is likely to remain involved in product development. Stocks are cheap – keep an eye on them!

That sums up Tuesday’s highlights! We wish you a profitable trading week. Remember to keep in touch with us on Facebook, Google+ & Twitter for all the latest news, information, tips and more! Trade with the experts and become a superior trader!

S&P 500 Advances Most This Year on Retail Sales

The Standard & Poor 500 Index has recorded its biggest gain of the year on rising U.S. stocks amidst better-than-expected retail sales and a corporate merger that boosted confidence in U.S. economy.

Technology companies were lead in gains by Inter Corp. and Jabil Circuit Inc. with rises of at lease 4 percent as analysts posted upgrades. Google (GOOG) Inc. advanced 2.4 percent following its purchase agreement for thermostat maker Nest Labs Inc. for $3.2 billion in cash. Time Warner Inc. refused an acquisition offer from Charter Communications Inc. and added 2.7 percent. JPMorgan Chase & Co. and Wells Fargo remained at their previous levels following fourth-quarter reports.

The S&P 500 (SPX) climbed 1.1 percent, its biggest increase since 18th December and one that erased nearly all of yesterday’s loss. The Dow Jones Industrial Average advanced 115.92 points, or 0.7 percent. In terms of share numbers, about 6.5 billion of them were bought and sold on U.S. market yesterday, moving at 7.7 percent above the 30-day average.

Yesterday, the S&P lost 1.3 percent, the greatest amount since November, as investors reconsidered their valuations following the record levels the index reached last year on a 30 percent valuation. The benchmark index lost 1.6 percent from the start of the year through yesterday, making this its worst beginning to a year since 2009.

Index Bull Rallies On With Job Market’s Slow Recovery

Over the last five years the job market has been on its slowest recovery in decades, but it has kept share prices into an extended bull run with $14 trillion having been restored to the market.

Big companies’ reluctance to hire new staff is expected to propel the Standard and Poor’s 500 Index into its highest profits margins ever next year, surpassing the 10 percent mark. Investors, moreover, do not expect to see the market bull slow down its pace any time soon after Fed Chairman nominee Janet Yellen identified the staggering employment market as the greatest hindrance to reducing bond purchase.

Even as American employees have been battling with salary cuts and job losses ever since recession hit in 2008, the last 57 months have recorded phenomenal performances for investors who have benefited by companies’ reductions in expenses and record-low borrowing costs that have pushed the S&P 500 into a 167 percent climb. The great market bulls, moreover, foresee that for as long as the Fed keeps its focus on unemployment rather than inflation equities will keep advancing.

With worker compensation on the slide as companies and the ratio of U.S. salaries to earning having fallen to 3.2, its slowest since 1996, S&P 500 companies have seen their profitability rise increasing the profitability of each dollar of sale to a remarkable 9.9 cents this year.

S&P 500 Poised for Best Year Gain in a Decade

The Standard and Poor’s 500 Index is headed for its best annual gain since 2003 with U.S. stocks raising again this week after the weaker-than-expected economic data triggered bets the Federal Reserve will not reduce its stimulus at its meeting.

The S&P 500 gained 0.1 percent to 1,762.11 at 4 p.m. in New York. The gauge has increased 23.6 percent this year, which would mark the best annual gain since a 26.4 percent jump in 2003. The Dow Jones Industrial Average dropped 1.35 points, or less than 0.1 percent, to 15,568.93. About 5.9 billion shares changed hands on U.S. exchanges, in line with the three-month average.

Last week, the S&P 500 rallied 0.9 percent during its third straight weekly gain. The gauge has climbed 4.8 percent this month as U.S. lawmakers agreed to raise the government’s borrowing limit.

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