Trading Review: Current Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
Electric vehicle maker Rivian on its way to a Monday of loss since it was issued last week? The company is now shedding about 5% in early trading on Wall Street, after losing 15% yesterday. also Celebrity andKamtech Israeliness loses height beforehand.
On the other side is Anvidia which jumps by 8% in the pre-market and so does the department store chain Kohl’s , Which reported a 16% increase in its sales in the third quarter and raised its forecast for the year.
Trade in Europe continues to be a mixed trend. Trading in the contracts shows increases, the highest of which is in contracts on the Nasdaq, which increase by 0.6%.
The Turkish lira is plummeting after the Turkish central bank decided to cut interest rates again, this time by 100 basis points, to 15%. This is after lowering 200 basis points last month, and despite inflation raging at a rate of 20%.
About 90% of S&P companies published their reports for the third quarter, with 81% surprising investors for good. Reported an increase in profits of 42.5% compared to expectations for 33.2%, and reported 18.7% growth in sales compared to expectations for 16.1%. According to Adi Borkowitz, Investment Manager at Overseas Desk Activists Investment Portfolios, Finance, Health and Energy Services are the industries in which the most impressive surprises were recorded. “The energy industry rose thanks to the sharp rise in oil prices. The surprise in the reports of the energy and finance industry translated into increases in these indices which rose from the beginning of the year 52% and 36% respectively and led the industry yield table.”
Borkowitz added that the S&P index has risen 50% since the beginning of 2020, but the profit multipliers have hardly risen: “The multiplier at the beginning of 2020 was 21, the future multiplier for 2021 is expected to be 22.5. This shows us that the increase in corporate profitability justifies the price level In the stock market, “he concluded.
The mixed trend in European markets continues. The DAX was up 0.1%, the Kak was up 0.3% and the Potsy was down 0.1%.
In Frankfurt, the tire manufacturer continues to stand out Continental With a decline of over 5% in high trading turnover (the fifth largest in the DAX index), while stocks Deutsche Bank and-BMW Increase by 1%. In London, there was a decrease of more than 1% for the oil giant BP against the background of the declines in the commodity market.
In the early trading arena on Wall Street, automaker Rivian continues the negative momentum it recorded last night and loses over 6%, and Lucid also joins the trend and loses 7%.
Anvidia Jumps 7% after publishing reports last night. The chipmaker topped analysts’ forecasts with revenue of $ 7.1 billion, compared to expectations of $ 6.8 billion. Earnings were $ 1.17 per share, compared to expectations of $ 1.1 per share.
Trade in Europe opened with a mixed trend. The DAX index is rising slightly, Kak is trading steadily while Potsy continues to lose ground after inflation figures released yesterday in the UK.
In Frankfurt, a stock stands out Continental Which loses 5.5%. The tire, brake and other products maker in the automotive industry announced last night that it will replace its CFO Wolfgang Schaefer following an investigation into illegal use of the Defeat device in diesel engines.
In Asia, trading closed down. The Shanghai index fell close to 0.5%, the Shenzhen index fell 0.9% and the Hang Seng lost 1.5%. Technology stocks stood out negatively in Hong Kong, with Shiomi losing 3%, Alibaba imitating 5.6% and Tencent and Mituan falling 3%.
Oil continues to decline and is trading down about 1% or more. WTI oil is trading around $ 76.6 a barrel, Brent crude is below $ 80 and a January delivery contract is trading at $ 79.5 a barrel.
Trading in Asian markets is currently on a negative trend. The Nikkei index in Tokyo traded steadily but towards closing started to lose height, eventually dropping 0.3%. In Shanghai and Shenzhen the indices are down 0.3% and Hang Seng is down 1.5%.
In Hong Kong, there have been significant declines in Shiomi, Alibaba and Petrochina.
Most of the declines in Tokyo can be attributed to the debt of the oil giant Infax, which lost about 7% in the high-volume trading volume in the Nikkei index. Yesterday, US oil inventories were released, indicating a surprising drop in inventories, which actually indicates an increase in demand and was supposed to support prices. Last week, inventories of only one million barrels were recorded, while the expectation was 2.1 million. For $ 77.1 a barrel, Brent crude is trading at $ 80 a barrel.
The crypto market is experiencing moderate gains compared to yesterday, but Bitcoin is still at a relatively low level to a record set last week and stands at about $ 59.7 thousand. Heather traded at $ 4,250, the dogecoin for 23 cents.
Contracts on Wall Street signal a positive opening trend, with contracts for Dow Jones trading steadily but contracts for Nasdaq and S&P 500 recording slight gains. Last night’s trading day in New York ended with price declines. The Nasdaq index fell 0.3% , The Dow Jones lost nearly 0.6% and the S&P 500 shed 0.2%.
The foreign exchange market is stable, with similar to last night the dollar trading around NIS 3.07 and the euro for NIS 3.48.