Daily Video Review - 13/08
- Donald Herison
- English
- MARKETS NEWS
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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:
Another day, another devaluation for the Chinese yuan.
But investors are not freaking out like earlier in the week.
1) All eyes on China
The Chinese currency dropped again versus the U.S. dollar, but the central bank is rushing to calm fears about the yuan's more than 3% tumble over the past three days.
The central bank said Thursday that it expects the currency to stabilize, and that circumstances no longer call for continued depreciation.
China's government has in the past tightly controlled the yuan, but now it's trying to allow market forces to play a larger role in setting the value of the currency.
2) Stock Market rebound
The yuan's recent, unexpected moves frightened traders. Many hit the "sell button." But now people have calmed down.
U.S. stock futures are pointing up Thursday. European markets are making big advances in early trading and all Asian markets closed with gains.
"Fears of [a] Chinese economic meltdown appear to have been allayed for the time being," said Augustin Eden, a research analyst at Accendo Markets.
3) Earnings
Kohl's (KSS), Dillard's (DDS), Coty (COTY) and Nestle (NSRGY) are reporting earnings before the market opens.
This afternoon, a handful of companies, including Nordstrom (JWN), will report after the market closes.
4) Stock market movers
News Corp. and Cisco: Shares in News Corp (NWS) and Cisco (CSCO, Tech30) are expected to surge by about 4% at the open on the back of well-received earnings, which came out Wednesday evening.
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1) BEIJING (Reuters) - Alibaba's shares skidded to a record low in New York on Wednesday after China's biggest e-commerce company posted its slowest revenue growth in over three years.
2) NEW YORK (Reuters) - Boeing Co (N:BA) sees continued strong demand for civilian aircraft and pressure to increase its production rates, despite concerns about growth in China and several years of record aircraft orders.
3) Investing.com - The dollar tumbled over 1% to one-month lows against the other major currencies on Wednesday, as markets were still digesting news that China devalued its currency for the second consecutive day.
4) ATHENS/BRUSSELS (Reuters) - The European Union moved to keep Greece on a tight rein after its latest bailout, with sources saying the 85 billion euro ($94.83 billion) deal will be reviewed by lenders in October and any discussion of debt relief will only come at a later stage.
5) Investing.com - West Texas Intermediate oil trimmed gains on Wednesday, after data showed that oil supplies in the U.S. fell less than expected last week.
Crude oil for delivery in September on the New York Mercantile Exchange tacked on 20 cents, or 0.46%, to trade at $43.28 a barrel during U.S. morning hours. Prices were at around $43.52 prior to the release of the inventory data.
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What is it? Greek Parliament will vote to decide if the measures in the third bailout program will be implemented.
When? Tentative
Trading Tip: This announcement can greatly affect the EUR so make sure to follow it!
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What is it? It's a leading indicator of economic health - production is the dominant driver of the economy and reacts quickly to ups and downs in the business cycle.
When? At 1:30am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the CNY to rise.
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What is it? It's the first indication of the employment situation, released a month earlier than the Unemployment Rate. Source changed series calculation formula as of Jun 2015.
When? At 1:30am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the GBP to rise.
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