Trading Review: Ongoing Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
The New York trading day closed with slight gains in the leading indices. The Dow Jones industrial average was up 0.4%, the S&P 500 was up 0.3% and the Nasdaq was up 0.1%.
Among the Israelis, they stood out positively Abogen , Tremor , Culture, Intercure, Stratiss and SimilarWeb. On the other hand, it was a weak day for Hippo, whose value was cut by more than 14%. Ormed lost about 9%, Global Island parted ways with 5%.
The energy companies on Wall Street have concentrated the interest of investors tonight and have certainly benefited from rising oil prices, most notably Chevron, Cabot, Symarks and Oxidental Petroleum.
Rises on Wall Street have moderated, and now the Dow Jones and S&P 500 are up 0.1% while the Nasdaq is unchanged.
While oil market gains have calmed and U.S. oil has fallen below $ 70 a barrel again, energy companies are still accumulating sharp gains, including Cabot oil and gas , Symarks Energy , Oxidental Petroleum andmisfortune – More beautiful increases are recorded at Spotify And Globalstar.
Virgin Galactic Of billionaire Richard Branson loses 4.6%, visa Decreases 2.9% andMasterCard 2.5%. The clothing chain American Eagle Outfitters Cut by 9%. The Israelis Hippo, Ormed andIntec Pharma Recording high declines, and Global.E Online Which drops by 6%.
The rises on Wall Street continue, with the Nasdaq and S&P 500 rising 0.3% and the Dow Jones advancing 0.4%.
While oil prices continue to trade up about 2.3%, energy companies continue to stand out with high increases. The satellite company Globalstar is still concentrating investor interest and soaring 20%. Since the beginning of the week the stock has already added 66% to its value.
Among Israeliness, Abogen andCulture Record beautiful rises. Hippo still sheds about 15%, Ormed falls 9%.
European Trading Day closed with slight gains. The British Potassium Index rose 0.2%, the CAC rose 0.1% while the Dax index rose instead.
On Wall Street, increases of about 0.4% continue in the three leading indices. Oil prices are rising and boosting New York energy stocks, among them Cimarex andCabot oil and gas Which jumps 7%, Oxidental Petroleum Which exceeds 6% andDevon Energy Which is strengthened by 5%. also misfortune Rises, but more moderately – about 2%.
Among Israelis on Wall Street, the trend is mixed. Intercure Continues the positive momentum it recorded in Tel Aviv also on the NASDAQ, when it climbs above 11%. More beautiful increases are recorded Abogen , Tremor , Stratiss , Toxface , SimilarWeb andRisked –
On the other hand, Hippo Holdings Falls above 16% andOrmed Cut by 9%.
Oil prices are soaring, and U.S. WTI oil is now trading at more than $ 70 a barrel, after climbing 2.7%. Brent crude is also rising 2.3 percent to $ 73.2 a barrel.
Oppenheimer Investment House updates that it has maintained an Outperform recommendation for the stock Monday , With a target price increase to $ 420. “Monday was recently issued on Wall Street and has since shown a meteoric rise in the stock, given investors’ enthusiasm for particularly high growth rates of about 100%, significant market opportunity without direct competition and potential for long.term continued growth at high rates. We believe Monday is an extraordinary growth “Israeliness, which is also reflected in a significant premium in its share pricing, is expected to have further positive surprises in its results.“
New York trading day opened in a positive trend, with 0.4% gains in leading indices.
The share of the satellite company Globalstar jumps about 11% following the trend it has enjoyed in recent days, amid rumors that the next iPhone device will use satellite communications.
At the top of the Dow Jones index Walgreens Which costs 1.5% andmisfortune andDark With an increase of 1.2%.
Macro USA: The number of initial unemployment claims last week was 340,000, compared to the expected 345,000 claims. This is the lowest level since March 2020. Increases in futures contracts after the publication of the data signal a green opening in about half an hour.
In the various European stock exchanges, only slight increases are recorded, the highest of which is 0.6% in Stockholm and Brussels. The Dax and Kak indices are up just 0.1%, and Potsey is down slightly.
In the crypto market, there have been price increases, with Bitcoin trading around $ 49.9 thousand, Heather jumping to a level of almost $ 3,800 and Dogecoin rising to 30 cents.
“Looking at Ether (which is considered the second digital currency in its class) and the recent echo around it, we understand that smart contracts will be an integral part of the future,” says Avi Selma, CEO of Hyposwiss’s Israeli representative office. A central that manages them may change the global rules of the game. “
Selma adds: “Bitcoin is still showing strength despite the fact that many forces are consistently working against it, from the Chinese government to regulators around the world. There is no need to be moved by the volatility that has characterized it since its inception. Slowly become the new gold. “
Trading on Wall Street is expected to open in a mixed trend with an upward trend, ahead of the release of unemployment data today and tomorrow.
Company Gilat Announced today that it has received additional orders worth $ 17 million to support low.satellite satellite group gateways. Gilat’s subsidiary, Wavestream, has been selected to provide solid.state amplifier systems for a leading satellite operator to support low.satellite satellite gateways. The orders were received as part of a contract previously reported by the company.
Oil contracts are trading at slight increases. This is after the companies in OPEC + decided yesterday to increase the oil production at a gradual rate of 400,000 barrels per month (at least until December).
Meital Bar.David, a senior energy analyst in Mizrahi.Tefahot, notes that “following the decision, the organization’s companies will produce 5.4 million barrels of oil per September, which is 5.4 million barrels per day lower than in January 2020 before the outbreak of the corona virus.” Considering that the spread of the Delta variant has a relatively limited effect on demand, which is on the rise, there is also evidence of relatively low inventory levels, especially in the United States. Justifies lower output.
“The organization will continue to hold monthly meetings out of a desire to have a ‘finger on the pulse’ and in my opinion this is a wise decision due to the very dynamic reality in the market. This is contrary to past tradition where its meetings were held once every six months. “With the publication of the decision, the price of oil fell by about $ 1 a barrel, then corrected and has since moved in a narrow range. I expect volatility around current levels in the near future.“
European Stock Exchange Day opened with a mixed trend. Wall Street indices are also trading in a mixed trend.
Traders around the world are waiting for data from the US labor market to be released today and tomorrow.
On the Asian stock markets, there are slight price increases today. Wall Street indices are trading in a mixed trend.
The yield on 10.year US government bonds stands at 1.30%.
Oil contracts are down slightly.
On Wall Street, trading closed last night in a mixed trend. The Nasdaq closed slightly higher, while the Dow Jones fell 0.1% at the end.
Stefan Monier, chief investment officer of Swiss bank Lombard Odeier, said in a report that “Fed Chairman Jerome Powell said this week following signs of moderation in inflation and improved job data that the central bank may slow the pace of its asset purchases, but clarified that there is no connection” Between this step and raising the interest rate – even though some viewers do. It should be remembered that the Federal Reserve’s balance sheet has a major impact on the stability of the American market – since the beginning of the Corona crisis, the Fed has acquired assets of more than $ 4 trillion (18% of US GDP) and almost doubled its balance sheet, which stands at $ 7.45 trillion. “It will reduce its acquisition of assets in January 2022 by $ 10 billion a month, and its balance sheet will then stand at $ 8.3 trillion.“
“The Fed’s balance sheet size is important because expanding government bond purchases leaves fewer ‘safe’ assets for investors, pushing those to invest in more risky assets. This can have an effect on market expansion behavior and cash flow, an effect that can only be achieved by lowering interest rates. Therefore, although consumer demand pushes inflation beyond the central bank target, the flexible inflation target allows the Fed to look beyond short.term increases and avoid automatically raising interest rates in response to an increase. We at Bloombard Audier anticipate that the first US interest rate hike will not be before January 2023, and will come only after the completion of the asset purchase reduction, and a period of stability in the Fed’s balance sheet size, despite the possibility of reducing the asset purchase plan. Before the outbreak of the corona plague by 2025. ”