Daily Video Review - 20/07
- 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:
It looks like the week is getting off to a decent start.
U.S. stock futures are edging up, all European markets are in positive territory and even Greek banks are reopening after a three-week closure.
1) Gentle markets
Global stock markets are looking stable at the start of a new week, though Asian markets ended with mixed results.
Crude oil futures are flat, up 0.1% to trade around $51 per barrel. However, gold is on the skids, trading down about 1.6% to trade around $1,114 per ounce.
The previous week was a strong one for stocks. The Dow Jones industrial average pushed up by nearly 2% over the five trading days. The S&P 500 did even better with a 2.4% gain, while the Nasdaq hit new record highs after surging by 4.3%.
2) Earnings
Earnings season continues with oilfield services company Halliburton (HAL) and Morgan Stanley (MS) reporting quarterly results before the market opens.
Toymaker Hasbro (HAS) is also reporting earnings ahead of the open. The company has benefited recently from its ties to popular movie and TV franchises, including Transformers, Star Wars toys and Marvel.
IBM (IBM, Tech30) will report after the close.
3) Greek banks reopen
Bank branches across Greece have reopened Monday after a three-week shutdown. Limits on withdrawals have been loosened a little, though daily and weekly caps remain in place. Other capital controls are also continuing and the stock exchange remains shut.
The banks were shutdown and the stock market stopped trading at the end of June as the country teetered on the brink of bankruptcy, and people rushed to withdraw their savings.
Now the situation is stabilizing as eurozone leaders have begun negotiating a new bailout for Greece worth as much as 86 billion euros ($93 billion).
4) Stock market movers
Carmax, eBay: Shares in used car seller Carmax (KMX) saw a 2% boost in extended trading after the company posted strong quarterly earnings Friday.
Shares in eBay (EBAY) are dipping by about 1.5% premarket, after surging by over 4% at the end of last week.
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What is it? It's a detailed record of the RBA Reserve Bank Board's most recent meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates.
When? At 9:30am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the AUD to rise.
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What is it? It's a leading indicator of consumer spending - retailers generally order more goods from wholesalers when they expect consumer sales to increase.
When? At 8:30am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.
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1. The Nasdaq composite index opened at a record high on Friday after strong quarterly results from Google (O:GOOGL), while Boeing (N:BA) kept the Dow in the red.
2. The dollar moved higher against a basket of other major currencies on Friday, after the release of upbeat U.S. inflation and housing data added to expectations for a rate hike in the near future.
3. Crude oil futures were little changed on Friday, hovering close to four-month lows as the stronger dollar coupled with concerns over a global supply glut continued to weigh on the commodity.
4. Boeing Co (N:BA) on Friday said it will take a $536 million after-tax charge in its second-quarter results to deal with deficiencies in the fuel system on the KC-46 aerial refueling tanker it is developing for the U.S. Air Force.
5. Gold prices held steady at eight-month lows in European morning hours on Friday, as the stronger dollar and increased risk-appetite following positive news from Greece weighed heavily on the precious metal.
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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:
It's been a thoroughly exciting week in the markets, and it's not over yet.
1) Nasdaq set for another record?
It looks like the Nasdaq could hit new all-time highs Friday. The tech-heavy index finished Thursday with a 1% gain.
The Nasdaq will have to surpass the level 5,164.36 to reach a new record.
U.S. stock futures are mixed ahead of the open, with the Nasdaq indicating it will keep rising while the Dow Jones industrial average and S&P 500 could post small declines.
2) Earnings
General Electric (GE) and Honeywell (HON) are reporting ahead of the open.
Telecoms firm Ericsson (ERIC) reported second quarter results earlier in the morning and shares are rising by about 6% in Europe.
Shares in Google (GOOGL, Tech30) are set to surge by about 11% this morning after the tech giant reported better-than-expected results on Thursday evening.
3) Germany votes on Greek bailout
Germany's parliament -- the Bundestag -- is voting Friday on whether to support formal negotiations on a new Greek bailout, which was agreed in principle by eurozone leaders earlier this week.
"[German Chancellor Angela] Merkel has enough votes to ensure passage, but there may be interest in the level of dissent expressed vocally or in votes," said Paul Donovan, a senior economist at UBS.
Many Germans hate the idea of lending Greece more money after years of overspending and political mismanagement.
4) International markets overview
European markets are slipping a bit lower in early trading, while most Asian markets ended with strong gains.
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