Daily Video Review - 23/10
- Donald Herison
- English
- MARKETS NEWS
- Hits: 1458
US stocks dropped following mixed data and earnings reports while Asian markets also declined across the region.
European markets are mixed today after mixed data. Positive data was released from Europe including positive Manufacturing PMI data from Germany. However, data from the UK was disappointing.
Oil dropped sharply yesterday and reached its lowest price since 2012. Recent news of a slowdown in global demand coupled with falling demand are supporting the downwards movement. The price has now rebounded slightly as strong data from China and Europe boosted sentiment slightly.
Gold is falling as the Dollar strengthens. Positive economic data has also reduced fears of a slowdown resulting in less demand for safe haven assets.
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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) Earnings
Quarterly results are due to come thick and fast Thursday. This morning, we'll hear from industrial giants, airlines and food firms.
There's more to watch after the close of trading. Tech heavyweights Amazon (AMZN, Tech30) and Microsoft (MSFT, Tech30), and famed casino giant Wynn Resorts (WYNN) will also be releasing results after the closing bell.
But that's not all! European bank Credit Suisse (CS) just reported better-than-expected third quarter results. Shares were edging high in morning trading.
2) Buffett's Bad Week Continues
Warren Buffett just can't seem to catch a break this week as another big investment hits the skids.
British grocery chain Tesco (TESO) just revealed a bigger-than-expected £263 million ($421 million) profit hole due to an accounting bungle. Its sales in the first half were also down. Buffett, through his investment company Berkshire Hathaway (BRKA), owns a significant stake.
Shares in Tesco fell by 5% in London. They're down 48% so far this year.
Buffett lost $2 billion in the first two days of this week on investments in IBM (IBM, Tech30) and Coca-Cola (KO).
3) Market Moves
US stock futures were pointing higher ahead of the open. The major indexes all fell by nearly 1% over the previous trading session.
European markets were mixed in early trading, while Asian markets ended with losses.
4) Economic Data
The US Department of Labor will be releasing data on weekly jobless claims at 8:30am ET.
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What is it? It checks the difference in value between imported and exported goods during the reported month.
Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation's exports. Export demand also impacts production and prices at domestic manufacturers.
Usual Effect: If the number is higher than the forecast, you can expect the NZD to rise.
When? October 23rd at 5:45pm Eastern Time.
Trading Tip: This announcement can greatly affect the NZD, make sure to make your trades before.
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German Flash Manufacturing PMI (EUR)
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What is it? It checks the number of individuals who filed for unemployment insurance for the first time during the past week.
Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy.
Usual Effect: If the number is higher than the forecast, you can expect the USD to rise.
When? October 23rd at 8:30am Eastern Time.
Trading Tip: This announcement can greatly affect the USD, make sure to make your trades before.
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German Flash Manufacturing PMI (EUR)
Asian Stock Drop While Oil Falls
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What is it? It checks the change in the total value of inflation-adjusted 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 GBP to rise.
When? October 23rd at 4:30am Eastern Time.
Trading Tip: This announcement can greatly affect the GBP, make sure to make your trades before.
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German Flash Manufacturing PMI (EUR)
Asian Stock Drop While Oil Falls
French Flash Manufacturing PMI (EUR)
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What is it? It checks the level of a diffusion index based on surveyed purchasing managers in the manufacturing industry.
It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.
Usual Effect: If the number is higher than the forecast, you can expect the CNY to rise.
When? October 23rd at 3:30am Eastern Time.
Trading Tip: This announcement can greatly affect the EUR, make sure to make your trades before.
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Other top stories:
Asian Stock Drop While Oil Falls
French Flash Manufacturing PMI (EUR)
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What is it? It checks the level of a diffusion index based on surveyed purchasing managers in the manufacturing industry.
It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.
Usual Effect: If the number is higher than the forecast, you can expect the CNY to rise.
When? October 23rd at 3:00am Eastern Time.
Trading Tip: This announcement can greatly affect the EUR, make sure to make your trades before.
Talk to us to get get FREE signals and start earning now:
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4 Tips for Today's Trading - 22/10
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