Daily Video Review - 27/10
- Donald Herison
- English
- MARKETS NEWS
- Hits: 2005
US stocks climbed at the end of last week after better than expected earnings and data. Positive earnings were also released throughout the week boosting sentiment.
Asian markets were mixed today. The Nikkei added 0.63% as positive earnings and data reinstated confidence in the economy lowered fears of a global slowdown.
European markets are lower today after another round of weak data from Germany. Markets were initially reacting to results of stress tests performed on 130 European banks over the weekend. The outcome was not as bad as expected as only 25 banks failed.
Oil traded choppy due to concerns of oversupply and lower demand. Goldman Sachs, an investment bank, has cut its forecast for oil for 2015.
Gold is trading sideways between $1234/ounce and $1227/ounce. Volatility will increase ahead of Wednesday’s FOMC statement where traders are eager to hear any updates regarding raising interest.
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4 Tips for Today's Trading - 27/10
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What is it? It checks the change in the total value of sales at the retail level.
It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity.
Usual Effect: If the number is higher than the forecast, you can expect the JPY to rise.
When? October 27th at 7:50pm Eastern Time.
Trading Tip: This announcement can greatly affect the JPY, make sure to make your trades before.
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4 Tips for Today's Trading - 27/10
How I Made Over $30,000 a Year by Investing in Binary Options
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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1) Banking Goldmine
Investors are expressing their disappointment after the European Central Bank revealed that 25 financial firms failed an extensive health check. Shares in about a dozen European banks are tanking Monday morning.
Most major European markets were declining by about 0.5% in early trading.
2) Market Moves
US stock futures were barely budging from their Friday closing levels.
Gold prices were declining slightly and oil prices were up a touch.
3) Earnings
There will be plenty of quarterly results to sort through Monday.
Allergan (AGN), Merck (MRK) and Citizens Financial Group (CFG) will be reporting earnings before the open.
After the close, we'll hear from Twitter (TWTR, Tech30), Buffalo Wild Wings (BWLD), Crocs (CROX) and Denny's (DENN).
4) Economics
At 10am ET, the government will release data on September pending home sales.
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