Red in New York: NASDAQ cuts 2.6%, bond yields at a two.year high

Trading Review: Current Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations

23:00

Day of trading on the New York Stock Exchange closed sharply: the Nasdaq was down 2.6%, the Dow was down 1.5% and the S&P 500 was down 1.8%.

US government bond yields soared: 10-year bond yields rose by about 11 basis points to 1.88%, the highest since January 2020. The yield on two-year bonds rose above 1% for the first time since February 2020.

The declines in the Dow were led by bank shares, with the Goldman Sachs bottom cut by 7% after missing its profit forecast and reporting a 23% jump in operating expenses in the fourth quarter of 2021 due to wage costs. G. Pi Morgan was down 4%.

Technology stocks continued to decline sharply, with Microsoft down 2.4% following the announcement of the giant deal to buy gaming company Activision, which flew 26%, for $ 68.7 billion in cash.

Tesla dropped 1.8%, Meta, formerly Facebook, dropped 3% and Amazon mimicked 2%.

Clothing retailer Gap fell 6.7 percent after downgrading Morgan Stanley to a “missing return.”

Of the Israelis, Teva was down 3%, Weeks was down 4.8%, Innovis was down 8.8%, Faber was down 4.2%, REE was down 8% and Solaredge was down 5.9%. On the positive side, Floristem jumped 10.9%, G-Medical jumped 20%, Bioline rose 8.5%, Sharplink Gaming advanced 6.1%, Rada strengthened 5% and Redhill added 4.4%.

22:15

The Brent oil benchmark, the global benchmark, rose 1.2 percent, $ 1.03, to close at $ 87.51 a barrel, its highest level since October 13, 2014.

Against the backdrop of high oil prices, the Iranian-backed Yemeni-backed rebels’ attack on oil facilities in the UAE yesterday, and growing fears of a Russian invasion of Ukraine that would affect Europe’s energy market. The damage to supply may be compounded by an increase in demand, which has been hit by the spread of the Omicron variant less than initially feared. Goldman Sachs predicts that the price of Brent oil could reach $ 100 a barrel in the third quarter of this year.

21:35

The WTI oil contract for February delivery was up 1.9%, $ 1.61, and closed at $ 85.43 a barrel, its highest level since October 2014.

20:35

A gold contract for February delivery was down 0.2%, at $ 4.1, and closed at $ 1,812.4 an ounce.

19:00

European stock markets ended the day trading lower: in Frankfurt the DAX was down 1%, in London the Potsy 100 was down 0.6%, in Paris Cuck 40 it was down 0.9% and in Amsterdam the EAX was down 1.5%. The pan-European Stokes 600 index retreated 0.9%, leading the technology segment, which lost 2.1%. Contrary to the trend, oil and gas shares rose by 1.3% against the background of rising oil prices.

18:20

NASDAQ is back to lead in declines and losing 1.9%. At the bottom of the NASDAQ, Modern is cutting 7.7%, Applied Materials is down 5.6%. Among the rises in the index, the gaming company EA gains from Activision’s momentum and rises by 5%, Pindudo rises by 3.4% and Palo Alto advances by 2.8%.

17:20

The declines in the Nasdaq weakened slightly and it is now losing 1.3%, the Dow is down 1.6% and the S&P 500 is down 1.4%.

In addition to the 8% Goldman Sachs stock, G.P. Morgan is down 3.5%.

Of the Israelis, Floristem does not stop and jumps 13%, Ayala Pharmaceuticals rises 11%, Iron Source advances 2.6%. On the downside, Teva is down 2.2%, Innovis is down 4% and Faber is down 1.2%.

16:35

New York Stock Exchange Day opened with declines in leading indices. The Dow Jones industrial average is down 1.3%, the NASDAQ is down 1.7% and the S&P 500 is down 1.2%.

Goldman Sachs Bank missed its earnings forecast and the stock fell 7%. Earnings in the fourth quarter of 2021 totaled $ 10.81 per share, compared to analysts’ expectations of $ 11.76. Revenue was $ 12.64 billion, above the $ 12.08 billion forecast. Operating expenses jumped 23% due to rising wages and an increase in legal reserves.

Microsoft acquires gaming company Activision in a $ 68.7 billion deal, the largest in its history. Activision flew 30%. Microsoft is weakening slightly.

The dollar is up 0.3% against the currency basket and stable against the Japanese yen at 114.6 yen per dollar. The pound lost 0.4% to $ 1.36 a pound and the euro retreated at a rate similar to $ 1.14 a euro. Gold retreated 0.2% and traded around $ 1,813 an ounce.

16:10

The Israeli chip company Valens, which provides chips for fast communication to the automotive and audio-video markets, today announced a collaboration with the American Stoneridge, a manufacturer of advanced electronic systems for vehicles and trucks, whose customers include Volvo, General Motors and Ford. Valens and Stoneridge are collaborating to present a video transfer solution for truck safety systems. Valens CEO Gideon Ben-Zvi said the solution would allow a safer driving experience for truck drivers using Stoneridge systems.

15:45

Oil prices have soared to the highest levels since 2014. Brent oil is up 1.3% to $ 87.6 a barrel. Goldman Sachs expects the price to reach $ 100 in the third quarter of this year. WTI oil jumps 2% to $ 85.5 a barrel. Against the backdrop of expected increases in demand due to hope Shuriant Omicron will not continue to oppress the economy, and fears of supply shortages amid an attack by oil tankers in the UAE by the Houthi rebels yesterday and the prospect of a Russian invasion of Ukraine.

14:00

In 10-year US government bond trading, the negative trend continues and the yield is now rising by about 3 basis points to about 1.81%.

Ofer Klein, head of the economics and research division at Harel Insurance and Finance, notes that “we expect a moderation in US inflation in the second half of the year. At the same time, in the last two months there have been more half-wages and price increases in the rental section, which led the governor and others in the Fed to signal a first interest rate hike as early as March. We believe that next Wednesday the governor will announce this, a scenario that is already embodied in the capital markets. At the same time, we do not believe that the Fed will accelerate the rate of interest rate increase beyond what is embodied in the market today due to the negative impact of the disease waves and the lack of a budget. ”

12:00

Contracts for the Nasdaq 100 are now down 1.7%, and Dow Jones contracts are down 0.7%. In Europe, the leading stock indices are down 1.5%.

After you have joined Inmode Last week published preliminary results for the fourth and final quarter of 2021, Oppenheimer Investment House writes that “the strong momentum continued in the last quarter (with an emphasis on December which was the strongest month in the company’s history) which is traditionally characterized by strong seasonality and now expects record revenues “$ 1 million, annual growth of about 46%, above our expectations and the consensus forecast of $ 100 million, with adjusted earnings per share in the range of $ 0.61-0.62, annual growth of about 31%, above the consensus forecast of $ 0.53 per share.”

“At the same time, the company also released a conservative forecast for 2022 as a whole with revenues in the range of $ 415-425 million, below the consensus forecast of about $ 422 million, according to the mid-range point, which represents annual growth of only about 17% compared to revenues for 2021 ”

10:15

Trading day on the European stock exchanges opened in a negative trend. The 600 leading stocks on the continent retreated 0.6%.

Contracts for the Nasdaq 100 are down 1.1%, and contracts for the Dow Jones are down 0.3%.

In the commodity trading industry, a contract for a Brent oil barrel traded 1.6% higher at around $ 87.9. Gold maintains stability.

In the crypto market, Bitcoin is down slightly around $ 41,900. Atherium is down more than 1% and is trading around $ 3,170.

09:15

The Nikkei closed down close to 0.3%, while the Sydney 200 fell 0.1%. Mitsubishi Finance stood out in Tokyo with a decline of 1.6%, JFE Holdings fell by 6.8%, Nissan shed 1%. The oil giant Infax strengthened by 1.7% against the background of rising oil prices.

Coffee , Teddy Sagi’s cyber security software provider traded on the London Stock Exchange, this morning released preliminary financial results, according to which it ended 2021 with revenues of $ 230.5 million, an increase of 89% compared to 2020. The latest forecast provided by the company was revenues of $ 197-202 million, ie. Actual revenues are about 14% higher than the upper limit of the forecast.

08:10

Most major stock exchanges in Asia today are trading in a negative trend. In Tokyo, the Nikkei index is down 0.2%, and in Hong Kong the Hang Seng is down 0.5%. In Shanghai, on the other hand, the stock index is up 0.6%.

Trades on U.S. stock market indices are declining. Contracts on the Nasdaq 100 are down about 1%, and contracts on the Dow Jones are down about 0.2%.

In 10-year US government bond trading, the negative trend continues, so that the yield continues to rise. The yield is now recording an increase of about 6 basis points to about 1.84%.

There was no trading in New York yesterday on the occasion of “Martin Luther King Day” and today investors will return to activity, with the reporting season picking up speed in the background. Reports will be released today, among others, Bank of America and Goldman Sachs, tomorrow the results of Procter & Gamble, United Health, ASML, and Morgan Stanley, Netflix and American Airlines are expected to be published on Thursday.

The Bank of Japan today left the interest rate unchanged. The BOJ’s annual inflation forecast rose from 0.9% to 1.1%.

In the commodity trading industry, a Brent oil barrel contract traded up 1% to around $ 87.3.

In the crypto market the trend is mixed, and Bitcoin is trading steadily around $ 42,150. Atherium is down more than 1% and is trading around $ 3,180.

By Editor

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