Banks unofficially kicked off the first quarter 2018 earnings season on Friday with results from JPMorgan, Wells Fargo and Citigroup. All beat due to a combination of volatile Q1 markets, tax reform, interest rate normalization and robust economic growth, but investors weren’t sure how they felt about those numbers, with those stocks initially rising on…
If investor/trader reaction last Friday to financials’ 1Q18 results is any indication, we are in for some interesting weeks ahead. First-quarter earnings season began in earnest last week. For 1Q18, the sell-side expects $35.63 in operating earnings from S&P 500 companies. Estimates have slightly trended lower since hitting $35.81 on March 8, but have risen…
The top 100 cryptocurrencies continued moderate gains over the weekend, with IOTA leading the top 10 with another 18% gain on Sunday. The gains came after IOTA Foundation has brought on-board Fujitsu’s Dr. Rolf Werner who currently oversees the company’s activities in Germany, Austria, and Switzerland. This move adds on to IOTA’s list of powerful…
Gold ended the week up $11.43 at $1345.01 an ounce, recoding a second consecutive weekly gain, as investors sought refuge from volatility in the wider markets. The yellow metal is being supported not only by a weaker U.S. dollar index, but also by safe-haven demand amid the escalating U.S.-Syria-Russia tensions. The minutes of the U.S….
Asian share markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.3% while the Hang Seng is down 1.6%. The Shanghai Composite is trading down by 1.5%. Over the weekend, US stocks closed mixed. Back home, India share markets opened the day on a negative note. The BSE Sensex is trading lower by 113 points while the NSE…
Four Pillars of GDP: Driven by private consumption The Philippines has fast GDP growth, driven mainly by private consumption and private investments. Net export was a drag on GDP growth in the past four quarters. The Philippines is most expensive in Asia on PE The Philippines is most expensive in Asia on 2018CE* 19.5x PE and…
Gold prices traded higher as the markets’ mood soured in late North American trade on Friday, sending capital fleeing to the relative safety of Treasury bonds and depressing yields. That offered a familiar lift to non-interest-bearing assets epitomized by the yellow metal. The move may have marked de-risking before the weekend as markets weighed tensions in Syria and…
Monday’s stock picks: Long Seagate Technology (STX) Long Plains Group (PAGP) Short Weibo (WB)
USDCAD stays below a falling trend line on its 4-hour chart and remains in the downtrend from 1.2943. As long as the price is below the trend line, the downside movement could be expected to continue and next target would be at 1.2450 area. Near-term resistance is at 1.2625, only a break of this level…
The second week of April 2018 proved to be just another in a series of noisy weeks in 2018 for the U.S. stock market. Geopolitics, trade and good old fashioned political noise filled the week that was for the S&P 500 (Index: SPX), where the ultimate outcome for the week was for the index to close…
