Trading Review: Current Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
The day of trading on the European stock exchanges closed with a largely positive trend. In Frankfurt, the DAX was up 0.2%, in London the Potsy 100 was up 0.4% and in Paris Cuck 40 up 0.1% and the Amsterdam 25 up 0.2%. The pan-European Stokes 600 index was up 0.3%. The consumer confidence index in the eurozone rose in June by 1.8 points compared to the previous month, according to an initial estimate published today.
On Wall Street, the indices have risen: the Dow is up 0.1%, the Nasdaq is up 0.4% and the S&P 500 is up 0.3%.
Mixed trend in New York: The Dow Jones industrial average is down 0.2%, the Nasdaq is up 0.1% and the S&P 500 is maintaining stability.
Macro USA: Sales of existing homes fell for the fourth month in a row. Sales of existing homes in the United States fell 0.9% in May to a seasonally adjusted annual rate of 5.8 million housing units, according to the National Association of Realtors. This month, 1.23 million homes were for sale, a drop of 20.6% compared to May 2020.
Trading on the New York Stock Exchange opened stably: the Dow Jones, the Nasdaq and the S&P 500 traded almost unchanged.
Federal Reserve Chairman Jerome Powell will testify later this morning before the House of Representatives about the central bank’s response to the Corona epidemic.
The 10-year US government bond yield is slightly strengthening to 1.50%. The dollar strengthened by 0.1% against the basket of lenders and by 0.4% against the Japanese yen to 110.7 yen per dollar. The pound is down 0.3% at $ 1.39 to the pound and the euro is down 0.1% to $ 1.19 to the euro. WTI oil lost 0.5% and traded around $ 73.3 a barrel and Brent crude retreated 0.1% to about $ 72.3 a barrel. Gold is down 0.3% and is priced at around $ 1,778 an ounce.
The price of Bitcoin fell below $ 30,000 for the first time since January, and now stands at about $ 29,600.
Trade in Europe continues to rise slightly. The rise of the DAX is strengthened to 0.3%, with among other things pulling the stock-raising index Deutsche Telekom, Deutsche Post, Convestro and Lind. The kak rises about 0.2%, the potash advances 0.4%.
The price of gold continues to fall, and a contract for delivery in August is trading at $ 1,778 an ounce.
Oil has weakened slightly: WTI is shedding nearly half a percent and the price per barrel is now $ 72.7. Brent crude also retreated slightly to a price of 74.6 a barrel.
The mixed trend in European stock markets continues. While the DAX erased the decline it recorded earlier in the day and is currently trading at a slight rise, the stock exchanges in Madrid, Milan, Zurich and Portugal continue to lose height. The Potsy index is up 0.3%, the Kak is 0.2%.
Energy company Torchlight continues to focus on early trading on Wall Street, and is now soaring more than 58%. AMC is weakening. The declines in trading on Wall Street futures have moderated, amounting to 0.2% for Russell 2000.
In the crypto market, price declines continue. Bitcoin is still trading at $ 31,000, Etherium 1,880. The ripple continues to plummet and trades for just 57 cents. The DogeCoin dropped to 18 cents per unit, down about 42 percent in a week.
Dr. Ron Eichel, chief analyst at Colmax Capital Markets, began surveying U.S. software giant Adobe with a strong buy recommendation for the coming week. “The momentum indicator is neutral. The support line is at the level of $ 324.54. The resistance line is at the level of $ 606.29, “the review said.
Trade in Europe continues to be mixed. The Dax shed 0.3% and the Kak 0.1%, the Potsy rises 0.2%. In Frankfurt Deutsche Bank sheds 0.5% in high trading turnover, Bayer loses 1.8%. In London, there have been slight increases for Barclays, Lloyds Bank, British Telecom and Rolls-Royce.
Wall Street futures are trading slightly lower, and the Nasdaq is expected to weaken 0.3 percent.
The declines in the crypto market continue. Bitcoin is weakening and falling below $ 32,000, Etherium is plunging to $ 1,880. The DogeCoin drops to 18 cents per unit and the Ripple to 58 cents.
Trading in Europe opened this morning in a mixed trend. The German DAX index is down 0.4%, while the Potsy is up 0.1%. The Kak is trading steadily, with a downward trend. Further declines are recorded in the Madrid, Milan and Zurich stock exchanges.
Among the stocks that are concentrating interest in Frankfurt at the opening of trading: Henkel, BMW, Deutsche Post, Deutsche Bank and Bayer. On the other hand, Adidas, Siemens, Volkswagen and Deutsche Bourse started the day with slight declines.
Asian stocks closed higher after sharply declining yesterday. The Nikkei was up 3.1%, Shanghai was up 0.8% and Shenzhen was up 0.3%. The gains also reached Australia, with the Sydney Stock Exchange climbing 1.4%. The Hong Kong index, which is still trading, is now losing about 0.4%.
Trading on the Asian stock markets is on a positive trend today, led by the Japanese Nikkei, which jumped about 3% after falling more than 3% yesterday. Trading on Wall Street indices is up slightly, after trading in New York closed yesterday.
Bitcoin is now trading at a slight rise to $ 32,800. Yesterday, the crypto market recorded another day of sharp declines, amid tightening restrictions on bitcoin activity in China. China’s central bank has summoned a group of banks and mobile payment apps, including the popular AliPay, and ordered a halt to any bitcoin activity going through them. On Tuesday, the Chinese government halted power supplies to the coin miners and exacerbated market declines.
Brent crude continues to climb 0.3% to $ 75.1 a barrel, which is expected to plunge domestic energy stocks.
Gil Michael Befman, Chief Economist of Bank Leumi, notes in his weekly oil review that “the high level of morbidity in emerging countries and the resulting restrictions pose a risk to global oil market demand. On the other hand, in developed economies there is progress in the immunization process. Greater mobility of people, travel and aviation. “
“In our estimation, the demand for fuel from developed countries is expected to rise in the coming months, with an emphasis on the summer season, when demand for fuel for transport is high as people travel, which is expected to keep oil prices short around their high level. OPEC + decision to continue production quotas. In the coming months, and not to accelerate the pace, it is expected to increase the oil supply in a measured and controlled manner. “