Daily Video Reviews - 19/06
- Donald Herison
- English
- MARKETS NEWS
- Hits: 1249
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Greek drama:
European markets are pushing higher in early trading, despite the fact that Greece and its creditors were unable to reach a deal on the country's debt crisis Thursday. Traders appear to be taking the news in their stride as they hope for a last-minute deal at a meeting of top EU leaders Monday.
Without an agreement very soon, Greece could miss a payment to the International Monetary Fund due at the end of the month, making it the first developed country to ever default on IMF debt.
2. Chinese correction:
The main Chinese stock markets in Shanghai and Shenzhen have officially entered correction territory, with each of the key indexes down by about 13% over the last few days.
Investors have grown increasingly wary of what many analysts describe as a bubble.
3. Calm in the U.S.:
U.S. stock futures are looking remarkably placid despite the turmoil overseas.
The Nasdaq closed at an all-time high -- 5,132.95 points -- Thursday after surging 1.3%. It also set an intraday record of 5,143.32, topping the previous all-time high of 5,132.52 from more than 15 years ago.
The Dow Jones industrial average and S&P 500 also jumped by 1% on Thursday.
4. Market movers:
ConAgra, Macerich: ConAgra Foods (CAG), a Nevada-based food company, saw a 7% jolt in its stock in extended trading after hedge fund JANA Partners announced it bought 7.2% of the company's shares.
In a disclosure filed with the SEC, JANA Partners said ConAgra's share are "undervalued and represent an attractive investment opportunity."
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What is it? Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.
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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What is it? Automobile sales account for about 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends.
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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What is it? It's among the primary methods the BOJ uses to communicate with investors regarding monetary policy. It covers the factors that affected the most recent interest rate decision, the overall economic outlook, inflation, and clues regarding future monetary policy.
When? At 2:31am eastern time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the JPY to rise.
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U.S. stocks are on track for a 3-day winning streak.
Headline inflation jumps in May. Jobless claims drop to 267,000.
U.S. stocks opened higher on Thursday as investors digested a number of upbeat economic reports and a day after the Federal Reserve struck a dovish tone and emphasized that rate hikes will come at a slower pace than expected.
Gold futures are climbing, helped by pullback in the U.S. dollar as the Federal Reserve signals it will raise interest rates at a gradual pace.
Oil markets rallied on Thursday on the back of a weaker dollar as investors weighed mixed U.S. oil inventory data. West Texas Intermediate futures for July were trading up 1% at $60.53 a barrel, while Brent crude for August delivery rose 1.1% to $64.60 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange.
The U.S. dollar fell to a one-month-low after the U.S. Federal Reserve signaled Wednesday it will go slow with any interest-rate increases. As oil is priced in dollars, it becomes more expensive for holders of other currencies as the greenback appreciates.
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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. Fitbit steps into the market:
Fitbit, the firm that fashions techy fitness trackers, is making its stock market debut Thursday. The initial public offering was priced at $20 per share, setting the value of the firm around $4 billion. Shares will begin trading on the New York Stock Exchange under the symbol "FIT".
2. Stock market overview:
Market sentiment is getting dragged down by worries that Greece and its creditors will not be able to reach a deal. Greece could be just weeks away from defaulting on its debts, and Thursday is seen as a critical day for political leaders to finalize an agreement. If they can't get a deal, many are predicting doomsday scenarios for the indebted nation. The risks surrounding Greece have pulled down European markets, which are all in the red in early trading.
3. Stock market mover
Oracle: Shares in software company Oracle (ORCL, Tech30) are off by about 7.5% premarket following worse-than-expected earnings. The company reported its revenues were down 5% in the latest quarter as it was hit hard by the strengthening U.S. dollar.
4. Earnings and economics:
Rite Aid (RAD) and Kroger (KR) are reporting their latest earnings before the market open. Kroger is one of the largest supermaket chains in the world, and its stock is up 55% over the past 12 months -- though food cost inflation and lower revenues from fuel sales may hurt the company's revenue.
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