Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations
17:43
After opening with stability, trading on Wall Street moves to declines – NASDAQ by 0.5%, S&P 500 by 0.2%, the Dow Jones is now trading unchanged.
News toTesla – The European Union is about to lower the purchase tax on Tesla vehicles produced in China, from a rate of 20.8% to 9%. Additionally, according to a report in China, Tesla’s new factory in Shanghai is about 45% complete, just three months after construction began. The $200 million, 200,000 square meter plant will initially produce about 10,000 units a year and could generate $10 billion in annual revenue. On the less positive side, presidential candidate Donald Trump has said he may eliminate the $7,500 tax credit for purchasing an electric vehicle .
17:19
Interest rate cuts in Europe continue – today it was Sweden’s central bank, the Riksbank, which lowered interest rates by 25 basis points to 3.5%. The bank hinted at two or three more downgrades by the end of the year.
16:55
Trading on Wall Street continues to be stable and without any particular direction – the indices trade around the base index.
AMD Also rising today in trading. Yesterday it announced an agreement to purchase ZT Systems, which designs data center equipment for cloud computing and artificial intelligence, at a cost of approximately 5 billion dollars. The deal, one of AMD’s largest, is part of the company’s attempts to increase its product range for large data center customers while promising to improve performance and try to undermine Nvidia’s dominance.
ZT has annual revenue of $10 billion, almost half of AMD’s annual revenue of 23.3 over the past 12 months. However, AMD plans to sell ZT’s manufacturing business and keep its design business.
The Wall Street Journal compares the purchase to the purchase of Mellanox by Nvidia, which was considered expensive at the time but contributed advanced capabilities and helped Nvidia present advantages and take the lead during the boom of the artificial intelligence era. AMD estimates that the deal will close in the first half of next year, subject to regulatory approvals.
16:30
Trading on Wall Street opened this afternoon with slight decreases of up to 0.1% in the leading indexes, after eight consecutive days of gains in the Nasdaq and S&P 500 indices. If the S&P 500 rises today, it will be the longest streak of gains in almost 20 years – November 2004.
By the end of the reporting season, 460 of the 500 S&P 500 had already reported and about 80% of those beat expectations.
Lowe’s The operator of the Do-It-Yourself chain of home improvement and maintenance stores reported mixed results in the second quarter – revenues were $23.6 billion compared to an expected $23.9 billion and adjusted earnings were $4.1 per share compared to an expected $3.97 per share. The company lowered expectations for the entire year.
15:59
3D printing company nano dimension Recorded in the second quarter revenues of 15 million dollars, an increase of 1.7% from the corresponding quarter. The net loss attributable to shareholders amounted to $44 million in the quarter, much more than a loss of only $9.1 million in the corresponding quarter.
Nano Dimension reduced its cash burn to $17.7 million, compared to $28.2 million in the corresponding quarter, and at the end of the period it had $764 million in cash. The company recently reported its intention to acquire Desktop Metal from the US for $183 million in cash.
15:44
After the longest streak of gains this year, Wall Street hopes that the Nasdaq and S&P 500 indices will complete a ninth consecutive day of gains today, now the indices are trading with stability and small changes.
Investors will focus this week on hints about lowering interest rates from the Federal Reserve Bank: tomorrow the minutes of the Federal Reserve’s latest interest rate meeting will be published and on Friday Bank Chairman Jerome Powell will speak at the Governors’ Conference in Jackson Hole.
15:18
Palo Alto The Israeli company is trading up about 3% in pre-market trading on Wall Street after Nir Tzuk’s cyber giant surprised the early forecasts in terms of profit and revenue and published a positive forecast for the rest of the year. Revenues during the fourth fiscal quarter increased by 12% compared to the corresponding quarter, and stood at $2.19 billion, the early forecasts stood at $2.16 billion. Adjusted earnings per share rose 5% to $1.51 for the quarter, compared to the early expectation of $1.41.
Palo Alto’s forecast for the third quarter of this year stands at a range of between 2.1 and 2.13 billion dollars, higher than the forecast that stood at 2.1 billion, while the income for the whole of the company’s next financial year that will begin in the third quarter may range between 9.1 and 9.15 billion – similar to expectations the analysts. In fiscal year 2024, which ended in the second quarter, Palo Alto brought in $8.03 billion and posted a profit of about $2.58 billion.
14:02
The Israeli holding company in the field of technology Formula systems published the second quarter reports today. The company, under the management of Guy Bernstein, in which it presented a 1.9% growth in revenue to $668 million and a 10.7% increase in net profit attributable to shareholders to $18.8 million. In the first half, revenues grew by 3% to $1.37 billion, and net profit attributable to shareholders increased by 10.1% to $36 million – record levels in the company. At the same time, Formula announced a dividend of 2.32 shekels per share and a total of 35.6 million shekels. The company is traded on Nasdaq and Tel Aviv with a value of 1.2 billion dollars. It controls the dual companies Magic and Sapience and the company Matrix which is traded in Tel Aviv.
12:57
The mixed trend in Europe continues. In the US, futures trade in a mixed trend.
In the US debt market, government bonds are trading in a mixed trend. The 10-year yield stands at 3.87% and the two-year yield is trading around 4.06%.
10:32
The trading day in Europe is hourly in a mixed trend. The Dax rises by 0.3%, the Potsi falls by 0.4% and the French CAC adds about 0.2% to its value.
09:03
This morning (Tuesday) in Asia, the main indices are trading in a mixed trend. The Nikkei jumps by more than 2%, the Hang Seng falls by 0.4%, the Shanghai Stock Exchange sheds about 1% and the Kospi rises by 0.8%.
US futures are trading slightly higher this morning.
Last night on Wall Street, the trading day closed in a green trend. The Nasdaq rose 1.4%, the S&P 500 rose 1% and the Dow Jones added about 0.6%.
The share of the maritime transport company Zim jumped by about 17% after surprising investors last night (Monday) with a significant increase in its annual forecast, and overtook the forecasts in the second quarter.
Among the chip shares, a share stood out positively Nvidia which climbed over 4%. also AMD closed on a similar rise after it announced its intention to acquire server builder ZT Systems in a cash and stock deal totaling $4.9 billion.
The stock of Warren Buffett’s holding company, Berkshire Hathaway B It rose by about 1% and broke the all-time high when it traded around a price of $450.45.
Also a share McDonald’s increased by more than 3% after the investment bank, Evercore ISI, raised the target price of the stock from $320 to $300. “We are increasingly bullish on McDonald’s US business for 2024, with some improvement in the market share trend that has occurred recently, which we believe will continue through the second half of 2024,” the investment bank wrote.
● The investment recommendations of “Barron’s” magazine for the days after the interest rate cut in the US
The stock of the dual software company Liveperson Jumped 27.5% yesterday on the Nasdaq in high trading volume, without any report from the company. In the last two months, the stock has tripled its value and today the company’s value reaches $157 million. Even after the high increase, Liveperson is far from the highs it reached at the height of the Corona epidemic, so Its value reached 4.7 billion dollars.
The company, under the management of John Sabino, is an American company that is also traded on the Tel Stock Exchange and employs workers in Israel as well. It provides SaaS (software as a service) solutions to organizations to manage their relationship with customers. According to the company’s forecast, it should end the year 2024 with revenues of 300-315 million dollars, a decrease of 20%-24% compared to the previous year, which was also a year of declining revenues, and with a positive EBITDA of 15-26 million dollars, compared to 25.8 million dollars in 2023. According to Yahoo finance data, most analysts Those who cover the stock have neutral recommendations.
In the US debt market, government bond yields are trading stable this morning. The 10-year yield is 3.85%. The yield on two-year bonds, which is considered more sensitive to short-term interest rate changes, trades around 4.06%.
● Senior market official: “In a year the interest rate in the US will be 2% lower – you should buy now”
In the macro sector, the Central Bank of China left the prime interest rate on loans unchanged, at a level of 3.35%.
In the commodity market, oil prices are now down 0.8% after plunging by 2.5% last night. Against the background of the decline in the gates, the optimism surrounding the cease-fire talks between Hamas and Israel following the speech of Secretary of State Anthony Blinken. The price of a barrel of Brent stands at 77 dollars at this time and the price of a barrel of WTI trades around 73 dollars.
At the Swiss bank, Lombard Odier, they analyze the race for the White House and the macroeconomic effects of Republican and Democratic governments: “In the Republican and Democratic scenarios, we expect real GDP growth in the US in the range of 1.9%-2.2% in 2025. In the case of ” Republican “clearing the table” – winning the presidency, the House of Representatives and the Senate – the pro-growth policy may lead to higher nominal growth and inflation, this may lead the Fed to stop lowering interest rates at a level of about 4% in the second quarter of 2025.
“In the scenario of a Trump victory with a divided Congress, tariffs may be the main factor, which will slow down growth and cause inflation to rise, which will lead to the Fed stopping interest rate cuts, but at a lower level due to the weakness of growth and the labor market. The Harris term will be characterized by the continuation of existing policies, which will allow For the Fed to continue interest rate cuts until mid-2025 to keep unemployment low while reducing inflation.”
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