Closing Bell (August 28)
UK Sparks: Thomas Cook Rescue Package Confirmed
Thomas Cook Group has announced that it has agreed the terms of its rescue by Fosun Tourism Group. The Chinese company, which owns Wolverhampton Wanderers football club, will inject £450m into the company for 75% of the tour operator and 25% of its airline.
Another Sedate Overnight Session
WTI Crude (CL) Weekly MACD Trying to Positively Cross
Caution Remains Warranted
A Top Amazon Finance Exec Departs
Jeff Bezos is the face of Amazon.com, Inc. AMZN. But working quietly behind the scenes was Kurt Zumwalt, Amazon’s global treasurer who quit his post after 15 years, CNBC reported. Zumwalt’s LinkedIn page says he “built and scaled” Amazon’s treasury department, which he oversaw as the company grew from $5 billion in revenue to more than $200 billion.
Positioning For Uncertainty Amid The Current Market Turmoil
The Ripple Effects Of Fees
Transitioning Business Model Creates Buying Opportunity
Five Questions: Hidden Risks in Investing with Corey Hoffstein
Investing in the stock market is a risky activity. The obvious risks like losing a large portion of your portfolio during a bear market, or underperforming the market by a wide margin if you employ an active strategy can be more than many investors can handle.Given th high level of risk that is inherent in investing, it doesn’t make sense to take more risk than you have to.
Morning Express: August 27, 2019
U.S. benchmarks are clinging to yesterday’s recovery, but trade war uncertainties persist. Although China ultimately denies calling the U.S as reported by the White House early yesterday morning, the positive narrative around restarting trade talks and comments from President Trump that a deal is within reach have lifted sentiment from the depths of Sunday’s open. Overall, the risk-appetite is ignoring a clear escalation of tensions between the two sides.
Early Look: Tuesday, August 27, 2019
Stock futures are flat across the board, having rebounded from Friday’s sharp selloff yesterday, helped by President Trump as he provided markets with a much more optimistic tone on a potential trade deal with China, saying Beijing asked to “get back to the table” for talks. But outside of a few comments from Trump, following up after announcing increased tariffs on additional China goods last Friday, markets were relatively quiet amid a lack of market moving corporate news.
UK Sparks: Polymetal Earnings Slip On Currency Losses
Polymetal International, the Russian gold and silver mining group, saw net earnings fall from $175m to $153m in the first half of this year, mostly due to foreign exchange losses. Underlying net earnings increased by 21% from $155m to $188m, while revenues rose 20% to $946m, mainly driven by a 22% uplift in gold-equivalbent production. Chief executive Vitaly Nesis says the results reflect “solid operational delivery”.
Closing Bell (August 27)
It’s Quiet Out There
S&P500 (ES) Nearing Prior Jan-Aug Upchannel Support
FX Rundown: August 26, 2019
Session close: Settled at 1.1116, down 49 ticks
Fundamentals: The Euro lost significant ground with the Dollar snapping back after President Trump said China called and wanted to restart trade talks. Now that pressure is on the Federal Reserve to loosen monetary policy amidst escalating trade tensions, the Dollar has lost the safe haven trade war luster it once had. Also weighing on the Euro was the worst read on German Ifo Business Climate since November 2012. U.S Durable Goods data was certainly nothing to write home about with the headline read missing at -0.4% but it was not enough to stop the recovery. Final German Q2 GDP data is due tomorrow at 1:00 am CT and French Consumer Confidence is out at 1:45 am. From the U.S, we look to Case Shiller at 8:00 am CT, Consumer Confidence at 9:00 along with Richmond Manufacturing.
Technicals: Aggressive bears had their opportunity on the open last night to fade the rally as it approached what we quoted as “strong resistance” at … Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and actionable bias and levels.
U.S. Muni Market: Shields Holding on Supply-Demand Dynamics
Deal or No Deal?
Costco Is the Most ‘Woke’ Company Out There
Weekly Market Recap: August 26, 2019
Economic Update: August 26, 2019
The first estimate for 2Q19 real GDP growth came in at 2.1%, a little stronger than the consensus expectation of 1.9%. Real government spending and real consumer spending were positive contributors to growth, while a decline in business fixed investment, slower inventory growth and weaker trade detracted.
Whipsawed By Trade Headlines; Market Set To Rally
It hasn’t been a dull start to the week — and the week hasn’t even started for the cash market. On the contrary, the futures market has been full of excitement, which could also be construed as misdirection given the purported catalyst for a spike in the futures for the major indices.
May Salesforce Be With You
Big US tech is under fire home and abroad, but Salesforce’s midichlorian count was high late last week – and its stock rose 6% after its better-than-expected quarterly report. The Silicon Valley darling’s software is focused on helping companies manage their customer relationships via the cloud, and its two biggest products continued to grow last quarter.
10 Biggest Price Target Changes For Monday
Credit Suisse lowered Pivotal Software Inc PVTL price target from $20 to $15. Pivotal Software shares closed at $14.88 on Friday.Morgan Stanley boosted Intuit Inc. INTU price target from $244 to $260. Intuit shares closed at $278.74 on Friday.