Trading Review: Ongoing Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
The U.S. Consumer Price Index rose 0.5% in July (up 5.4% in the last 12 months), in line with expectations. The core index rose 0.3% from a 0.4% rise.
Perrigo Joins Wicks (see previous report), and the two lose nearly 10% in early trading on Wall Street. Perrigo posted quarterly results in which it missed analysts’ forecasts and posted adjusted earnings of 50 cents a share, while the market expected 62 cents a share. The company also posted revenue of $ 980 million while the market expected its revenue to stand at $ 1.02 billion.
BlackRock Investment Institute experts refer in their weekly review to Europe’s rise as a global economic restart leader: “The economic restart continues to expand, and this supports its risk-taking position and the underweight position we are in in government bonds. These assets show low returns and do not reflect the current economic momentum. While the economic restart began in the US and China, these days Europe is becoming the leader in the macro level at the macro level, supporting our tactical position of overweight in European equities. S&P 500 reported quarterly results in the first week of August, with 87% exceeding earnings and sales forecasts (which were the highest since 2011). “In fact, they were punished. This reflects the dynamics of the restart – very strong profits, but only during the restart period. In Europe, about 90% of MSCI companies reported profits, with just over half winning estimates.”
Trade in Europe continues to be positive. In Frankfurt the rises are moderate, when Deutsche Bank Increases by 0.3% andin Iyar At 0.5%. In London there is an increase of almost 2% for the aviation group IAG , and also Vodafone Strengthens than usual. In Paris, the supermarket chain Carrefour Climbs 2.8%.
The contracts on Wall Street are changing trend and now the contract on the Dow Jones is trading up slightly. The contract for the S&P 500 has weakened slightly, the contract for the Nasdaq 100 is down 0.2%.
Weeks Israel still stands out in pre-trade and is now cut by more than 8%. Billionaire Richard Brensen’s Virgin Galactic is also losing ground in early trading.
In Europe, the positive trend continues, with increases of 0.1% in Frankfurt, 0.3% in Paris and 0.4% in London.
Wall Street futures are still signaling declines with the opening of trading.
In early trading Weeks The Israeli stands out negatively and is cut by 7% after publishing its quarterly results and updating down its annual forecasts. Its revenues were higher than expected and stood at about $ 316 million (34% more than in the corresponding quarter and 4% more than in the first quarter of the year).
The company as mentioned updated its forecasts below and noted that this is due to the uncertainty regarding the development of the plague. “Our users do not know whether to set up a new online activity or rather plan physical events and services, and the result of the uncertainty for us is a slowdown in the creation of new online activities.” Weeks’ new forecast also predicts 25% revenue growth (the company expects $ 311-317 million), impressive growth but at a slower pace than in recent quarters.
Trading on European stock exchanges opened in a positive trend. Potassium is up 0.3%, Kak is up 0.2% while the DAX is trading unchanged.
The crypto market is on the rise again, and Bitcoin has already passed the $ 46,000 mark. Heather also continues to strengthen and rises to $ 3,200.
The Hong Kong index is trading down very slightly, partly due to Shiomi losing 1.6% in a relatively high trading volume. On the other hand, banks and fuel companies are climbing.
The Japanese stock market closed up 0.6% as car companies ended the day with price increases. In Sydney, trading closed up 0.3%.
In Asia, there is a mixed trend this morning, although the large and prominent markets are enjoying price increases. The Nikkei is up 0.5%, Shanghai is up 0.3% and Shenzhen is up 0.1%, and Sydney is up. The Heng Seng index, on the other hand, weakened slightly, with declines in Taiwan, South Korea and India.
The one that stands out most in Tokyo is the Mitsubishi Bank share – which jumps 3.5% in a very high trading volume, over 5 times what follows. Car companies are also getting decent increases: Mitsubishi climbs 2.3%, Suzuki jumps 5.4%, Nissan and Mazda 1.3%, Toyota 1.1%.
In the commodities segment, there are slight price declines. Yesterday crude oil strengthened and Brent crude oil once again stands at over $ 70 a barrel, but today its exchange rate has weakened by about 0.2%. WTI oil also retreated at a similar rate, to $ 68.1 a barrel.
In Wall Street futures the trend is mostly negative, but at very low rates. Inflation data as well as crude oil inventories will be released later today. Yesterday the New York Trading Day closed with a mixed trend. The Dow is up 0.5% and closed at a record high after the Senate approved a $ 1 trillion infrastructure investment package, the Nasdaq was down 0.5% and the S&P 500 was up 0.1%.
There are still gains in the crypto market. Bitcoin is still hovering around the highest rate in three months – $ 45.5 thousand – a 20% increase in a week. Heather completes a 27% higher weekly decline, trading at around $ 3,160.
The Ripple and Dogecoin also enjoy market rallies, trading at 87 and 24 cents respectively (weekly increases of 23% and 34%, respectively).