FTSE Bursa Malaysia KLCI (.KLSE) negative news flow dampening investor appetite Share prices continued their downward momentum on Bursa Malaysia this morning with trading remaining lacklustre. At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 5.48 points easier at 1,615.42, after opening 3.23 points weaker at 1,617.67. On the broader market, decliners outpaced gainers 200 to 112, […]
Gold 1 OZ (XAU=X) solid resistance at $1,300.00 Technically, the gold bears have the overall near-term technical advantage. A downtrend line is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close in June futures above solid resistance at $1,300.00. Bears’ next near-term downside price breakout objective is pushing […]
Japanese Yen: USD/JPY (JPY=X) rises back up to key level USD/JPY technicals are looking increasingly bullish despite key resistance placing a temporary cap on the uptrend. The 112.20-30 level is holding just as it did back in early March, yet at the same time the pair remains in an intact 4-week uptrend and the chart’s […]
Euro: USD/EUR (EUR=X) push-lower re-testing the 1.1250 level Tomorrow marks Good Friday, meaning many western markets will remain closed, and Monday brings Easter and will see European markets remain on holiday. But ahead of the long weekend FX markets are showing as much excitement as they have so far in Q2, marked by a strong […]
Silver 1 OZ 999 NY (XAG=X) solid technical resistance at $15.31 May silver futures bears have the overall near-term technical advantage. Prices are in a seven-week-old downtrend on the daily bar chart. Silver bulls’ next upside price breakout objective is closing prices above solid technical resistance at the April high of $15.31 an ounce. The next […]
SET Index (.SETI) Heffx Outlook A slide in Thailand’s baht is proving to be a fillip for the country’s exporters of electronics parts. The SET Electronic Components Index is up about 9 per cent so far in April, leading the 28 industry groups in the nation’s stock market. Delta Electronics (Thailand) Pcl is one of […]
British Pound: USD/GBP (GBP=X) to struggle against the US Dollar until there is Brexit clarity One positive is that at least the extension removes the threat of a no-deal scenario for the time being but until there is some longer-term clarity, I fear the Pound could struggle to make any significant impact against the greenback. […]
Toga Limited (OTC:TOGL) Outlook Overall, the bias in prices is: Sideways. The projected upper bound is: 0.95. The projected lower bound is: 0.76. The projected closing price is: 0.85. Candlesticks A black body occurred (because prices closed lower than they opened). During the past 10 bars, there have been 4 white candles and 6 black […]
Alphabet Inc. (NASDAQ:GOOG) expect the cheaper versions of Google’s Pixel 3 phones quite soon If Google’s own hint is anything to go by, we can expect the cheaper versions of Google’s Pixel 3 phones quite soon. There’s no guarantee, but May 7 appears to be the date Google will announce the “Pixel 3a,” as it’s […]
Ironclad Encryption Corporation (IRNC) Outlook Overall, the bias in prices is: Downwards. Note: this chart shows extraordinary price action to the upside. The projected upper bound is: 0.09. The projected lower bound is: 0.03. The projected closing price is: 0.06. Candlesticks A big white candle occurred. This is generally considered bullish, as prices closed significantly […]
GEX Management, Inc. (OTC:GXXM) Outlook Overall, the bias in prices is: Downwards. Note: this chart shows extraordinary price action to the downside. The projected upper bound is: 0.01. The projected lower bound is: -0.01. The projected closing price is: 0.00. Candlesticks A black body occurred (because prices closed lower than they opened). During the past […]
Tianci International, Inc. (OTC:CIIT) Outlook Overall, the bias in prices is: Upwards. Note: this chart shows extraordinary price action to the upside. By the way, prices are vulnerable to a correction towards 1.67. The projected upper bound is: 3.26. The projected lower bound is: 1.84. The projected closing price is: 2.55. Candlesticks A black body […]
NASDAQ Composite (.IXIC) Rally Continues The Nasdaq Composite — one of the three major stock indexes of Wall Street — has been performing impressively so far in 2019. On Apr 16, the tech-laden index closed above 8,000 — a key technical threshold — for the first time after Oct 3, 2018. Positive news on the […]
Tesla, Inc. (NASDAQ:TSLA) is struggling in 2019 The glory days for Tesla (NASDAQ:TSLA) may be approaching an end. For the last few years, the company enjoyed strong sales with barely any advertising. The stock market and Tesla customers and adherents admired CEO Elon Musk for the advancements he brought to the electric vehicle market. That translated to […]
Dow Jones Industrial Average (.DJI) Falls As Medical Stocks Massacred A flat performance by the Dow Jones Industrial Average masked a real bloodletting in top stocks in the health care and pharmaceutical sectors. But stocks today also revealed some important sector rotation — the lifeblood of long-running bull markets. Thirteen of the day’s worst 14 industry groups […]
Hong Kong: HANG SENG INDEX (.HSI) investors watching the health of the Chinese economy Most Asian stock markets closed higher on Wednesday, following the release of better-than-expected economic numbers from China. Mainland Chinese shares were higher on the day. The Shanghai composite rose 0.29 percent to approximately 3,263.12 and the Shenzhen component added around 0.55 […]
Australian Dollar: USD/AUD (AUD=X) advancing after a government report showed China’s economy grew more than expected The Australian Dollar is advancing on Wednesday after a government report showed China’s economy grew more than expected. The Aussie is benefitting because it often acts as a proxy for the Chinese economy. The news helped reverse some of […]
Japanese Yen: USD/JPY (JPY=X) Upbeat China Data Support Treasury Yields, Appetite for Risk Helping to boost Treasury yields and demand for risky assets is the stronger-than-expected economic numbers from China. The data confirms the economy is bottoming out, mostly due to the stimulus from the Chinese economy. The headline data shows that China’s economy grew […]
Dow Jones Industrial Average (.DJI) Rallies to Six Month Highs It had been a rather sideways start to Q2 for the Dow Jones Industrial Average. Setbacks at Boeing have continued to constrain the blue-chip index, and while the S&P 500 continued to rally through the Q2 open, prices in the Dow snapped back last week to re-test […]
Singapore: STI Index (.STI) belief that consumer prices will rise by 3.1% over next 12 months Singaporeans expect consumer prices to remain stable in the year ahead, believing prices will rise by around 3.1 per cent over the next 12 months. This is a little over the 2.9 per cent expected inflation rate polled in […]
Facebook, Inc. (NASDAQ:FB) Earnings Season Is An Opportunity 2018 was a year that Facebook(NASDAQ: FB ) investors would like to forget. FB stock fell off a cliff following self inflicted wounds. And the negative headlines didn’t stop. All told, Facebook stock fell 45% from July highs to December lows. Luckily this year is a different story, FB […]
Apple Inc. (NASDAQ:AAPL) and mobile chip maker Qualcomm have settled a bitter financial dispute Apple and mobile chip maker Qualcomm have settled a bitter financial dispute centered on some of the technology that enables iPhones to connect to the internet. News of the surprise truce Tuesday sent Qualcomm stock soaring more than 23 percent, to […]
Bitcoin: USD/BTC (BTC=X) Advances Past $5,200 At the time of writing Bitcoin is trading up 2.4% at its current price of $5,220, up from its 24-hour lows of $5,030. Early yesterday, Bitcoin incurred relatively large selling pressure that pushed its price from nearly $5,200 to nearly $5,000, which appeared to put Bitcoin’s position within the $5,000 region […]
Tesla, Inc. (NASDAQ:TSLA) Electric vehicles have a small but growing share of the auto market You’ve probably heard of the Nissan Leaf, Chevrolet Bolt and Tesla Model 3. And most car companies, if they are not selling an electric vehicle, are working on bringing one to market. But consumers in the market for new cars […]
United States Oil (USO) prices rises on signs of strong demand from refineries in China Oil prices rose for a second day on Wednesday on signs of strong demand from refineries in China, the world’s second-largest crude user, amid tightening supply as producers curtail output and as oil inventories in the United States fell unexpectedly. […]
Amazon.com, Inc. (NASDAQ:AMZN) revealed its plans to develop a satellite network Amazon is one of the most powerful companies in the world. It has millions of Prime subscribers, owns a fleet of aircraft, streams Emmy-winning shows, and hosts the world’s largest cloud storage platform. The growth of online giants like Amazon may be limited only […]
Twitter, Inc. (NYSE:TWTR) Looking beyond revenue growth Twitter ‘s (NYSE: TWTR ) declining revenue during a portion of 2017 is long forgotten now. Since returning to growth over a year ago, the social network’s top-line momentum has been not just solid, but downright impressive. The company’s revenue for the full year of 2018 was $3 billion, up from $2.4 billion […]
What Could Derail Alphabet Inc. (NASDAQ:GOOG) Stock? On Feb. 4, when Google came out with Q4 2018 earnings, it raised a few eyebrows as the company revealed declining advertising prices and rising costs. Investors are especially concerned that the group’s core advertising business is likely to be at a plateau. They are now watching Amazon’s increased […]
NASDAQ Composite (.IXIC) market is completely focused on earnings U.S. stocks closed higher Tuesday, with the Nasdaq finishing above 8,000 for the first time in six months, as investors parsed a fresh batch of corporate earnings for clues on the broader economy. What did major indexes do? The Dow Jones Industrial Average DJIA, +0.26% rose […]
Gold 1 OZ (XAU=X) Remains Under Pressure Gold is currently sitting on the important 61.8% Fibonacci retracement level of the April – August 2018 move at $1,287/oz. and may make another attempt at the recent lows. A quiet start to a holiday-shortened week in Europe saw gold fade lower and if gold closes below $1,287/oz. an […]
Silver 1 OZ 999 NY (XAG=X) market suggests that we are likely to continue to find buyers Silver markets drifted a bit lower during trading on Tuesday, reaching towards the bottom of the that is a good looking candle stick and it sits right on top of a previous cluster. The fact that we are already […]
Hong Kong: HANG SENG INDEX (.HSI) advancing led by a rally in Chinese markets World shares advanced Tuesday, led by a rally in Chinese markets. Upbeat home price data from China and encouraging talk from the White House on trade negotiations with Beijing appeared to help lift sentiment. Germany’s DAX surged 0.6% to 12,096.93 while […]
Euro: USD/EUR (EUR=X) close above 1.1330 would suggest EUR is ready to tackle 1.1400 While we have expected EUR to “trade with an upside bias” for more than a week (see update on 04 Apr, spot at 1.1245), we were of the view that the “prospect for EUR to move to the next resistance at […]
Singapore: STI Index (.STI) Investors selling off blue chips, large-cap stocks ahead of earnings reports Local shares took their cue from a positive session on Wall Street last Friday but pessimism eventually took hold to send the market lower yesterday. There were mixed messages across the region: Japan and South Korea posted strong gains, while […]
Japanese Yen: USD/JPY (JPY=X) is expected to trade with a positive bias but 112.60 could be out of reach The ‘sideway-trading phase’ in USD that started in late March has ended as it hit a high of 112.09 last Friday before closing at a 4-month high of 112.02. The price action suggests the current USD […]
Australian Dollar: USD/AUD (AUD=X) strength could extend to 0.7210 We highlighted last Thursday (11 Apr, spot at 0.7170) that a “break of 0.7190 would suggest AUD is ready to tackle the Feb’s peak of 0.7210”. AUD opened on a weak note on Friday (12 Apr) before staging a robust rally that hit a high of […]
British Pound: USD/GBP (GBP=X) is expected to trade sideways within a broad range No change in view from last Friday, see reproduced update below. There is not much to add as GBP traded within a relatively narrow range between 1.3050 and 1.3107 and registered an ‘inside trading day’. We have held the same view more […]
Australia: S&P/ASX 200 (.AXJO) failing to push on past its previous significant high ASX bulls will probably still have cause to hope as long as the current broad range holds up through earnings season. However, a break through it will put focus on deeper falls, perhaps toward the 6064.7 mark. That is still only be […]
Amazon.com, Inc. (NASDAQ:AMZN) in talks to launch ad-supported music offering Shares of Spotify Technology SA fell 4 percent on Monday after a report said Amazon.com Inc was in talks to launch a free ad-supported music service, which is expected to intensify competition for the music streaming leader. Amazon would market the free music service through […]
United States Oil (USO) prices edged down after a Russian minister said the nation and OPEC may boost crude output Oil prices edged down on Tuesday after a Russian minister said the nation and OPEC may boost crude output to fight the United States for market share, checking a recent rally driven by tighter global […]
Bitcoin: USD/BTC (BTC=X) Continues to Find Support in Low-$5,000 Region After picking up some steam this past Sunday, Bitcoin was able to approach the $5,200 level before dropping slightly. Although the previous drop – which sent BTC reeling back towards the lower-$5,000 region last week – seemed to mark the end of the surge, it […]
Facebook, Inc. (NASDAQ:FB) The “one share, one vote” issue will be voted on at Facebook’s upcoming shareholder meeting on May 30 Facebook (FB shareholders want some of CEO and chairman Mark Zuckerberg’s power. In a proxy filing on Friday, shareholders proposed that Facebook’s dual-class system be phased out and replaced with a “one share one […]
Dow Jones Industrial Average (.DJI) quietly lower as corporate earnings continued to set the pace The stock market was quietly lower, as corporate earnings continued to set the pace. The Dow Jones industrials lost less than 50 points in today’s stock market, weighed down by Dow Jones stock Goldman Sachs (GS). Chinese stock leader Alibaba […]
Alphabet Inc. (NASDAQ:GOOG) having an iPhone doesn’t stop Google handing over your data A New York Times investigation into how Google furnishes law enforcement with phone data exposed one crucial detail – having an iPhone doesn’t stop Google handing over your data. The in-depth investigation by the Times revealed many details about how Google uses its […]
Tesla, Inc. (NASDAQ:TSLA) stock falling after CEO Elon Musk commented on production estimates again Just two months after he tweeted a production figure forecast, Tesla’s chief executive has done it again just days after he had to appear in court because the Securities and Exchange Commission accused him of violating an agreement to first ask […]
Alibaba Group Holding Limited (NYSE:BABA) setting up for a period of out-performance on the price chart backed by solid fundamentals, market position and enviable growth It’s been a solid 2019 for BABA stock with shares adding about 38% since the start of the year. Still, relative to Invesco China Technology ETF (NYSEARCA:CQQQ) and iShares China […]
Apple Inc. (NASDAQ:AAPL) is reportedly willing to spend $US500 million or more on Apple Arcade Apple may be willing to spend more than half a billion dollars to secure a successful launch for Apple Arcade, its upcoming video game subscription service, according to a new report from the Financial Times. Apple Arcade was unveiled last […]
NASDAQ Composite (.IXIC) suffered today, kicking off the holiday-shortened week on a negative note U.S. markets suffered today, kicking off the holiday-shortened week on a negative note. The Dow and S&P 500 closed lower on the back of disappointing big bank earnings from the likes of Goldman Sachs ( GS ) and Citigroup ( C […]
Singapore: STI Index (.STI) stocks closed lower Singapore stocks closed lower on Monday, with the benchmark Straits Times Index (STI) going down 0.18 percent, or 6.12 points, to close at 3,325.86. A total of 1.19 billion shares changed hands with a turnover of 858.57 million Singapore dollars (about 634.94 million U.S. dollars). Gainers outnumbered losers […]
Silver 1 OZ 999 NY (XAG=X) continue to suffer from a lack of turbulence on the geopolitical front Gold and silver prices are moderately lower in early U.S. trading Monday. The safe-haven metals continue to suffer from a lack of turbulence on the geopolitical front that would provide some demand for them. June gold futures were last down […]
UEM EDGENTA BERHAD (FBMS:KL) higher today taking cue from US share gains The FBM KLCI finished 1.16 points or 0.07% higher today, taking cue from US share gains on Friday at Wall Street. At 5pm today, the KLCI settled at 1,631.33 after rising to its intraday high at 1,638.87. In the US on Friday, the […]
Japanese Yen: USD/JPY (JPY=X) is back within its old uptrend The Japanese Yen has returned to the defensive against the US Dollar after a period of daily-chart strength last week, with USD/JPY well illustrating the value of Fibonacci retracement levels to technical analysis. Between April 7 and 10 the pair retreated below the uptrend channel which had previously […]
Euro: USD/EUR (EUR=X) steady after positive week EUR/USD has started the week with small gains. Currently, the pair is trading at 1.1310, up 0.10% on the day. Last week, the pair climbed 0.7%, its best week since mid-March. It’s quiet on the fundamentals front, with no major events out of the eurozone. In the U.S., […]
Gold 1 OZ (XAU=X) large speculators upped their bullish positioning Large speculators upped their bullish positioning in gold futures – although likely only temporarily — during the most recent reporting week for data compiled by the Commodity Futures Trading Commission. However, these accounts may well have cut their bullish posture since then, as gold prices […]
Hong Kong: HANG SENG INDEX (.HSI) struggle as growth worries overshawow trade-deal hopes Asian market finished mixed Monday as hopes over a trade deal mixed with worries about global growth. The Shanghai Composite index SHCOMP, -0.34% closed down 0.3%. Japan’s Nikkei 225 index NIK, +1.37% jumped 1.4% and the Kospi in South Korea SEU, +0.42% […]
Australia: S&P/ASX 200 (.AXJO) unable to join in with a pan-Asia rally as gold miners weighed and several fund managers lost ground Australian shares steadied at the start of a holiday-shortened week, with the benchmark unable to join in with a pan-Asia rally as gold miners weighed and several fund managers lost ground. The S&P/ASX […]
Australian Dollar: USD/AUD (AUD=X) market continues to look bullish The Australian dollar did very little during the day on Monday, but that’s not a huge surprise considering how bullish the move on Friday was. Overall, the market continues to look bullish in general, but we should also keep in mind that there are external factors […]
Heffx maintains ‘Hold’ call on PUBLIC BANK BHD (PUBM:KL) Heffx has maintained its ‘Hold’ rating on Public Bank Bhd, but with a lower Gordon Growth Model-based target price of RM24.40 (from RM26.50), based on 2.15 times 2019 price-to-book. In a research note last Friday, the research house said it is not amply attractive to warrant […]
Dow Jones Industrial Average (.DJI) positive sentiment boosted by finance ministers of G20 promising to get the act together to revive growth The positive sentiment would get boosted by finance ministers of G20 promising to get the act together to revive growth, that has been slowing globally. Plus the earning season has started on a […]
Facebook, Inc. (NASDAQ:FB) investors are trying to oust Mark Zuckerberg as chairman Facebook investors are trying to oust Mark Zuckerberg as chairman and also rid themselves of the company’s share structure. In a Securities and Exchange Commission filing from Friday, the company listed the various proposals that will be tabled during the May 30th annual shareholding meeting. […]
United States Oil (USO) could see a short-term correction U.S West Texas Intermediate and international-benchmark Brent crude oil futures settled higher last week, but the limited trading range suggests the buying may be slowing. Early in the week, prices rose to their highest levels since November, driven by turmoil in Libya along with ongoing production […]
Bitcoin: USD/BTC (BTC=X) Has At Least a 50% Chance of Succeeding Casares, who has been outspoken about his support for Bitcoin and the crypto markets in the past, shared his thoughts on where he sees the nascent technology heading next in a recent post on the Kana and Katana blog, laying out a strong case for why most […]
Alibaba Group Holding Limited (NYSE:BABA) stock broke out of a cup-with-handle base Alibaba stock broke out of a cup-with-handle base on Friday, and is 0.4% above the 188.18 buy point. Volume was average. It’s key to see strong volume on a breakout, at least 40% to 50% higher than average. Alibaba’s base has a key similarity to the cup-with-handle […]
Tesla, Inc. (NASDAQ:TSLA) $2.6 Billion Compensation Package? If there are contenders for tech titan poster child, Elon Musk is clearly leading the pack. Unlike almost any other CEO in recent memory, Musk embodies the spirit of innovation, vision, risk-taking, fearlessness, and unbridled ambition while also having the popular appeal of a rock star–with ambitions to […]
NASDAQ Composite (.IXIC) record high as earnings begin US stocks have closed near record highs on Friday after the largest US bank, JPMorgan Chase & Co, soothed worries that the first-quarter earnings season would dampen Wall Street’s big rally back from last year’s slump. The S&P 500 is now within one per cent of September’s […]
Gold 1 OZ (XAU=X) resistance at $1,330.80 Technically, the gold bulls still have the overall near-term technical advantage. However, a downtrend line is still in place on the daily bar chart and turned back the early-week rally in prices. Bulls’ next upside price objective is to produce a close in June futures above solid resistance at […]
Euro: USD/EUR (EUR=X) data may prove supportive but worries remain over the strength of the Euro-Zone economy The single-currency is gaining strength going into the weekend, aided in part by weakness in the US dollar, and will wait until data releases mid-week until it confirms whether this trend has further to go. The most important […]
MALAYAN BANKING BHD (MBBM.KL) remains committed to supporting borrowers MALAYAN Banking Bhd (Maybank) is projected to disburse some RM85 billion worth of mortgages as well as loans to small and medium enterprises (SMEs) over the next three years. Its group president and CEO Datuk Abdul Farid Alias said the banking industry remains committed to supporting […]
Singapore Press Holdings Limited (T39.SI) now gets bulk of earnings from property Investor interest in Singapore Press Holdings is set to cool further after the company posted a drop in earnings and cut its dividend once again, underlining its struggle to find direction outside its core business. Once a sought-after stock due to its substantial […]
Singapore: STI Index (.STI) largely range-bound trading This week’s trading in Singapore was one characterised by market watchers as largely range-bound. The Straits Times Index (STI) had either made small gains or losses, and at the week’s close eked out a 9.34 point or 0.3 per cent gain from the previous Friday’s close of 3,322.64. […]
Australian Dollar: USD/AUD (AUD=X) markets will be keeping a close eye on the RBA minutes AUD/USD showed volatility and gained about 1.0% last week. The markets will be keeping a close eye on the RBA minutes, Australian employment data and Chinese GDP. Here is an outlook for the highlights of this week and an updated technical analysis for […]
Japanese Yen: USD/JPY (JPY=X) bull scenario remains a priority The bull scenario remains a priority: 70% of the experts, supported by 100% of the trend indicators, look to the north. According to them, if the yield on 10-year US Treasury bonds continues to grow, the pair, relying on support around 112.00, can rise to the […]
Silver 1 OZ 999 NY (XAG=X) resistance at $15.31 Gold and silver prices are moderately up in early U.S. trading Friday, on corrective bounces after selling off sharply on Thursday. A sell off in the U.S. dollar index today is also benefiting the precious metals markets. June gold futures were last up $3.60 an ounce at $1,297.00. May Comex silver was last […]
British Pound: USD/GBP (GBP=X) investors will be watching employment, inflation and retail sales this week GBP/USD showed little movement last week. It’s a busy week in the U.K, with employment, inflation and retail sales reports. Here is an outlook for the highlights of this week and an updated technical analysis for GBP/USD. Britain and the EU agreed […]
Maxis Berhad (6012.KL) Shayne Heffernan has a “hold” call and target price of RM5.15 on the stock At the 20 sen per share dividend Maxis Bhd has been paying out annually in the past four years, last Thursday’s closing price of RM5.36 would have delivered an implied yield of about 3.7%. The question here is […]
If you are involved in or you are fan of horse racing in Australia, it is important to think hard before you vote in the upcoming election. Given the size of the industry in the country it is well and truly underrepresented in the political arena. From the breeding shed to the winners circle, politicians […]
Facebook, Inc. (NASDAQ:FB) working to put its bad press in the past The social media giant is working to put its bad press in the past, but more importantly, the investing public has grown more comfortable with the idea that data and privacy issues are more and more falling under the rubric of private companies. […]
Bitcoin: USD/BTC (BTC=X) Fails to Break Above $5,350 At the time of writing, Bitcoin is trading down over 4% at its current price of $5,060 and is currently trading near its daily lows. Today’s drop was brought about yesterday after Bitcoin swiftly surged from roughly $5,300 to $5,350, where it faced significant levels of selling pressure that […]
Twitter, Inc. (NYSE:TWTR) investors wondering whether it will again fall For more than eight months, Twitter (NYSE: TWTR ) stock has seen little movement. Since last August, TWTR has reached the $35 per share level twice – only to retreat. For the first time since December, Twitter stock again trades near that key level, leaving […]
Aussie Racing is being directly impacted by the wildly erratic behavior of regulators. The 2 cases in point Ben Currie and Darren Weir have highlighted the inconsistency and apparent hypocrisy of those that are charged with the responsibility of keeping Racing clean. Darren Weir was arrested in a grand theatrical event aimed at convicting him […]
Tesla, Inc. (NASDAQ:TSLA) Shayne ‘Jack’ Heffernan Price Target $150 Tesla Inc. shares on Thursday traded at their lowest in five sessions after a report said the Silicon Valley car maker and Panasonic Corp. have put on hold plans to expand the Nevada Gigafactory. Tesla TSLA, -2.77% shares fell nearly 3% in midday trading, bringing weekly […]
United States Oil (USO) prices firm supported by ongoing supply cuts Oil prices were firm on Friday, supported by ongoing supply cuts led by producer club OPEC and by U.S. sanctions on petroleum exporters Iran and Venezuela. International Brent crude oil futures were at $71.01 per barrel at 0042 GMT, up 18 cents, or 0.3 percent, from […]
Alphabet Inc. (NASDAQ:GOOG) chief diversity officer, Danielle Brown, is leaving the company Following a year full of controversy – including the Google Walkout, where employees protested the company’s handling of sexual misconduct allegations – Google is shaking up its diversity and inclusion team. Google’s chief diversity officer, Danielle Brown, is leaving the company, the company […]
Apple Inc. (NASDAQ:AAPL) Spends US$2.5 Billion in Environmental Initiatives Apple today announced it has nearly doubled the number of suppliers that have committed to run their Apple production on 100 per cent clean energy, bringing the total number to 44. Because of this partnership between Apple and its suppliers, Apple will exceed its goal of […]
Apple Inc. (NASDAQ:AAPL) next premium iPhone will reportedly have three cameras The high-end iPhone Apple is expected to release this fall will be the company’s first smartphone to come with three cameras instead of two, according to reports from Bloomberg and The Wall Street Journal. These reports indicate that only the most expensive, largest new iPhone – presumably […]
NASDAQ Composite (.IXIC) investors waiting for U.S. first-quarter earnings reports A gauge of global equity markets slid on Thursday as investors waited for U.S. first-quarter earnings reports while Treasury yields rose after strong U.S. data and a six-month extension of a deadline for Britain to leave the European Union. The dollar index rose as worries […]
Dow Jones Industrial Average (.DJI) Trump now oversees the tightest labor market in five decades The U.S. labor market appears to be in solid shape at the start of the second quarter, alleviating fears that the world’s largest economy was barreling toward stagnation. Jobless claims, which track the number of Americans laid off from their […]
Australian Dollar: USD/AUD (AUD=X) drifting higher The Australian dollar rose against most major currency pairs on Monday, helped by firmer commodity prices and broad based US dollar weakness. After finishing last week at .7105, the AUD/USD rose to as high as .7131 during the session before eventually closing at .7126. Modest gains were also seen […]
British Pound: USD/GBP (GBP=X) expect fluctuations on updates on the ongoing Brexit drama UK PM Theresa May has arranged last minute meets with the leaders of Germany and France later the day. She will urge the EU leaders to support her get an additional Brexit extension until June 30. In the talks with the EU leaders, she […]
Alphabet Inc. (NASDAQ:GOOG) Shayne ‘Jack’ Heffernan maintains a Buy rating This week is shaping up to be an important one for Alphabet (GOOGL) as the Google Cloud Next conference will commence on Tuesday and go through Thursday. If this is to look like last year’s conference, Google is expected to announce new products and partnerships, […]
Japanese Yen: USD/JPY (JPY=X) 110.75 would sideline bulls for deeper correction The pair extends pullback from 111.82 high on Tuesday, following bearish signal from Monday’s marginal close below 200SMA and formation of reversal pattern on daily chart. Repeated close below 200SMA is needed to confirm near-term stance, however, corrective action should find footstep at 111 […]
Hong Kong: HANG SENG INDEX (.HSI) fell on profit taking as investors awaited more clarity in trade negotiations Asian stocks ended mixed on Tuesday after US President Donald Trump threatened to impose tariffs on selected EU goods in response to the claimed EU subsidies for Airbus. Ongoing Brexit uncertainty and skepticism that any deal can […]
Singapore: STI Index (.STI) mixed after China-US trade talks show progress Shares were mixed in Asia on Monday after trade talks between China and the U.S. wrapped up with officials on both sides claiming progress and the U.S. government reported a strong rebound in hiring in March. Japan’s benchmark Nikkei 225 index slipped 0.2% to […]
Australia: S&P/ASX 200 (.AXJO) very volatile Extending overnight gains, the Australian dollar rose US0.4¢ to US71.30¢ after the rise in mortgage financing delayed expectations for a domestic rate cut ,while government 10-year bond yields rose 2.6 points to 1.90 per cent. Keeping bullish sentiment in check, “very volatile” business business lending slumped 11.4 per cent […]
Euro: USD/EUR (EUR=X) Single Market Traders Prepare For ECB Monday’s session saw the Euro to US Dollar exchange rate pull away from support at $1.12 to gain almost half-a-percent amid a data-sparse session with the single currency gains attributed to a lack of Greenback appeal. Into Tuesday, the EURUSD was last seen trading at $1.12716, […]
Shanghai: SSE Composite Index (.SSEC) investors seek more clarity in the US-China trade negotiations Chinese shares closed weaker on Monday, retreating from gains hit in the previous week, on profit-taking and as investors seek more clarity in the US-China trade negotiations, but hopes that Beijing’s policy will bolster growth curbed losses. At the close, the […]
Silver 1 OZ 999 NY (XAG=X) Prices Came Close to Downside Target We have been highlighting since early March about how silver prices may fall towards 14.75. We refined this target later to be 14.40-14.80. Last week, silver prices hit 14.90. This is close and a rally above 15.64 would build the case the low […]
Gold 1 OZ (XAU=X) gaining further support from higher oil prices Gold prices rose on Tuesday and were hovering close to their highest in more than a week touched in the previous session as the dollar eased on weak U.S. economic data, with the metal gaining further support from higher oil prices. Spot gold was up 0.3 percent at $1,300.47 […]
NASDAQ Composite (.IXIC) concerns U.S. companies will report a decline in earnings for the first time in three years A gauge of global equities was mostly flat on Monday as another drop in Boeing shares and concerns U.S. companies will report a decline in earnings for the first time in three years were offset by […]
United States Oil (USO) sanctions against Iran and Venezuela were also seen pushing up crude prices Oil prices rose to a five-month high on Monday, driven by expectations for tighter global supply from fighting in Libya, OPEC-led cuts and U.S. sanctions against Iran and Venezuela. International benchmark Brent futures were up 69 cents, or 1%, at $71.03 […]