Trading Review: Ongoing Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
The trading day on Wall Street ended in a mixed trend, with the Nasdaq strengthening 0.9%, the Dow Jones losing 0.6% and the S&P 500 closing without a significant change.
Dark andMicrosoft Rose by about 1.3%, Facebook Strengthened by 1.6%, Amazon By 2.3%. Anvidia continued the positive momentum and ended the trade with an increase of 4.7%.
AMC Returning to the interest of investors and climbing towards the end of the trading day by 10%.
Rolls-Royce, which jumped 15% earlier in the day, mimicked the rise it recorded and fell 22%. Bank of America fell 4.3%, Wells Fargo lost 6.1%.
Of the Israeli shares, Global-E andNano Dimension Rose 8%, Weeks Added 5% andLivePerson Rose 3.2%. On the other hand, Zim Withdrew 4.2%, ICL Lost 3.9%, SimilarWeb Decreased 3.5% andnature Separated from 1.7%.
Oppenheimer updates the target price of a stock Ituran Nasdaq for $ 33 (currently priced at $ 28). Ituran owns 17.2% of Bringg, which this week completed another round of investment worth $ 1 billion. Ituran’s holding is at a current value of about $ 172 million (NIS 560 million). A report published by Ituran on the subject excited investors on Wall Street, and Ituran’s share is now trading at a price it has not been trading for about two years.
The crypto market continues to experience price declines, and Bitcoin is already trading at $ 37,000. The currency erased the gains it recorded during the week, in which it traded for more than $ 41,000.
Mixed trading on Wall Street continued, with the rise of the Dow Jones weakening and now standing at about 0.5%. The S&P 500 has moved down slightly. The yield on 10-year US government bonds, which stood at 1.57% this morning, fell 5% during the day and now stands at 1.48%.
Anvidia andRolls Royce Continuing to concentrate investors’ interest and climb about 5% each, Square rises 4.5% and Nintendo strengthens by 3.3%. On the other hand, stocks are declining JP Morgan Chase Bank of America, Exxon Mobile, Wells Fargo , Citigroup , Morgan Stanley, Goldman Sachs andGeneral Electric .
The crypto market is down slightly, and Bitcoin is trading at around $ 38,000 per unit, having already passed the $ 40,000 threshold this week. Etherium trades for $ 2,300, the Dogecoin for 30 cents.
Gold continues to fall in free fall and is already losing more than 4.5%. An August contract now sells for $ 1,773 an ounce.
Mixed lock on European stock exchanges. The Dax index closed without a significant change, the Potsy weakened by 0.4% and the Kak strengthened by 0.1%. The German Stock Exchange in Germany rose 2.6% and British Telecom rose 2.7% in London. Glencore, on the other hand, lost 3.6% in high-trading turnover, and American Airlines fell 3.4%.
On Wall Street, trading is also mixed, with the Dow Jones down 0.6%, the Nasdaq up 1% and the S&P 500 trading steadily.
Stock Anvidia Jumps more than 5% after the investment bank Jeffries Raised the stock’s target price to $ 854. Further strengthening PayPal (3.7%), Shopify (6.5%) Snap (4.3%). On the other hand, Bank of America Weakened by 3.4%, Exxon Mobile Loses about 3% andMorgan Stanley Withdrew by 3.3%.
Trading on Wall Street opened steadily, with slight upswings to the S&P 500 and the Dow Jones, while the Nasdaq weakened slightly.
Rolls Royce Holdings , Which manufactures engines for aircraft and ships, is soaring 15% after reporting that by 2050 it will reach zero emissions from its engines, which could run on green energy. General Motors and Ford are also getting stronger.
412,000 initial unemployment benefit claims were filed last week in the United States, compared with 375,000 the week before. This is a figure that is close to 15% higher than the forecast (359,000 claims).
Meanwhile, trading in Europe continued to decline slightly, with the Potassium in London shed 0.5% – with notable declines in Glencore, American Airlines, Helma and Berkeley. On the other hand, British Telecom, Vodafone, Barclays andHSBC Getting stronger.
Elbit Systems reported this morning on $ 52 million in transactions. The first deal is from its subsidiary in Germany, which won a $ 23 million follow-up contract from the Swedish Procurement Manager to supply additional software radio systems for the Swedish military. The contract will be executed over a period of 30 months. The second deal is from Elbit Systems ‘US subsidiary, which won $ 29 million in orders to improve US military pilots’ night-vision systems.
Gold is now down about 3% and the price per ounce is $ 1,805. Bitcoin traded up 1.2% to $ 39,300.
The day of trading on the European stock exchanges opened with slight declines in the leading stock indices. Wall Street indices are also trading down slightly.
Ronen Menachem, the chief economist of Mizrahi Tefahot, notes following the Fed’s announcement yesterday that “there is an interesting case here that the figure that caught the eye the most and caused the immediate negative reaction of the markets – raising the inflation forecast for 2021 from 2.4% to 3.4% – is also Most importantly, it is more important that the Fed is not at all bothered by an increase in the short-term inflation rate and will therefore continue with the low-interest rate purchase program, and that according to its method the US economy will return to a “normal” state next year: 2% inflation, 3% growth And the beginning of the process of normalizing interest rates. This, in my opinion, is the main (and convenient) message from yesterday’s interest rate announcement, which is why I believe that the markets will rise again, focusing on continued growth, which will also be reflected in the financial statements. “
“This does not mean that the Fed can not make a mistake and there is a certain kind of gamble (and hope) that it will not find itself running after inflation (so-called behind the curve). We also know the opinion of the current finance minister and former governor Yellen “The huge fiscal expansion is not terrible if interest rates rise a little. However, in the meantime, the crisis management by the Fed has been good and professional and the markets have no reason today to doubt its views and moves,” Menachem writes.
Asian stock exchanges are trading in a mixed trend, with the Chinese and Hong Kong stock exchanges trading slightly higher while the Nikkei in Tokyo is down 1.1%. This is after a negative lock on Wall Street last night.
WTI oil is down slightly and gold is down 2% and a contract for delivery in August closed at $ 1,822 an ounce.
Wall Street indices are trading down slightly. The yield on 10-year US government bonds is now rising to 1.577%.
The Federal Reserve decided today, as expected, to leave US interest rates unchanged at zero. The volume of monthly bond purchases, which stands at about $ 120 billion, will not change in the meantime. Fed leaders reiterated that the jump in the inflation rate is temporary but raised the annual inflation forecast to 3.4% from 2.4% at their previous meeting in March, estimating that interest rates will rise at least twice in 2023.
11 out of 18 FOMC (Open Markets) companies now estimate that interest rates will rise at least twice in 2023. In March this year, Shiva estimated that only one interest rate hike would be required.
The Fed noted that they want to see further significant progress in the recovery rate of the U.S. economy before narrowing the bond buying program.
Nadav Ofir, a global markets strategist in Bank Hapoalim’s trading room, notes in response that “the tone of the Fed’s announcement seems to be more positive, with an emphasis on improving the labor market and the US economy, in light of the vaccination program. Compared to four members who rated it in March this year.
“The Fed’s growth forecast for the US economy in 2021 has also improved and now stands at 7%, compared to 6.5% before.”
“We reiterate our assessment that as the US economy continues to improve in light of the decline in the negative effects of the Corona virus, interest rates are expected to rise sooner than expected, and we expect to see at least one rate hike during 2022. Moreover, despite recent yields (in recent days “It is expected that by the end of 2021 the yield on ten-year government bonds will be 2% (now 1.54%)”.