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Stocks - U.S. Futures Fall Amid Fears of Slowing Global Growth

दिसम्बर 14, 2018, 11:41

Investing.com – U.S. futures slumped on Friday, as investors worry about slowing economic growth in China and elsewhere.

The S&P 500 futures fell 22 points or 0.86% to 2,622.62 as of 6:40 AM ET (11:40 GMT) while Dow futures slumped 210 points, or 0.85%, to 24,361. Meanwhile tech heavy Nasdaq 100 futures decreased 70 points, or 1%, to 6,682.

Retail sales in China posted their weakest growth in 15 years, increasing worry about the world’s second largest economy as the country is impacted by trade disputes with the U.S. In Japan, the Bank of Japan’s Tankan survey released overnight showed companies expect conditions to worsen in the next three months.

Meanwhile data from the euro zone revealed the weakest business activity in the private sector in just over four years, highlighting the slowing growth in the region.

General Electric (NYSE:GE) was among the top gainers in premarket trading, rising 1.5%.

Elsewhere, Costco (NASDAQ:COST) fell 3% after reporting disappointing quarterly earnings and revenue. Starbucks (NASDAQ:SBUX) dipped 3.4% after it announced a partnership with Uber Eats at 2,000 of its stores in the U.S.

Tesla (NASDAQ:TSLA) decreased 0.7%, while semiconductor company Micron (NASDAQ:MU) slumped 2.9% and Facebook (NASDAQ:FB) was down 1.7%. Boeing (NYSE:BA) inched down 2% and Cisco (NASDAQ:CSCO) slipped 1.8%.

In economic news, retail sales comes out at 8:30 AM ET (13:30 GMT), with industrial production at 9:15 AM ET (14:15 GMT) and IHS Markit PMI data at 9:45 AM ET (14:45 GMT).

In other commodities, gold futures fell 0.3% to $1,242.70 a troy ounce while crude oil futures decreased 0.3% to $52.41 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, rose 0.4% to 97.52.

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Cardano Dips Below 0.029021 Level, Down 3%

दिसम्बर 14, 2018, 11:28

Investing.com - Cardano fell bellow the $0.029021 level on Friday. Cardano was trading at 0.029021 by 06:27 (11:27 GMT) on the Investing.com Index, down 3.33% on the day. It was the largest one-day percentage loss since December 13.

The move downwards pushed Cardano's market cap down to $754.95227M, or 0.72% of the total cryptocurrency market cap. At its highest, Cardano's market cap was $23.91700B.

Cardano had traded in a range of $0.028781 to $0.029483 in the previous twenty-four hours.

Over the past seven days, Cardano has seen a stagnation in value, as it only moved 0.66%. The volume of Cardano traded in the twenty-four hours to time of writing was $10.48803M or 0.09% of the total volume of all cryptocurrencies. It has traded in a range of $0.0283 to $0.0324 in the past 7 days.

At its current price, Cardano is still down 97.85% from its all-time high of $1.35 set on January 4.

Elsewhere in cryptocurrency trading

Bitcoin was last at $3,317.6 on the Investing.com Index, down 2.65% on the day.

XRP was trading at $0.29744 on the Investing.com Index, a loss of 2.11%.

Bitcoin's market cap was last at $57.78926B or 55.07% of the total cryptocurrency market cap, while XRP's market cap totaled $12.14847B or 11.58% of the total cryptocurrency market value.

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Top 5 Things to Know in the Market on Friday

दिसम्बर 14, 2018, 10:43

Investing.com - Here are the top five things you need to know in financial markets on Friday, Dec. 14:

1. Attention turns to deluge of U.S. data

Among the downpour of U.S. economic data due on Friday, investors will focus on retail sales for November, due at 8:30 AM ET (13:30 GMT) on Friday, as they look for further signs on the strength of the American consumer.

The consensus forecast is that the report will show retail sales rose 0.1% last month, after a 0.8% increase in October. Excluding the automobile sector, sales are expected to increase 0.2%.

Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy. Consumer spending accounts for as much as 70% of U.S. economic growth.

Also on the economic calendar, traders await industrial production for November at 9:15 AM ET (14:15 GMT) and preliminary purchasing managers’ indices for the manufacturing and services sectors in December from IHS Markit at 9:45 AM ET (14:45 GMT).

2. Weak growth figures from China, Europe add to investor malaise

While waiting for the U.S. data, economic indicators elsewhere spooked investors in overnight trade on Friday.

China’s worse-than-expected retail sales saw their weakest growth in 15 years, while industrial output rose the least in nearly three years, casting further doubt over demand in the world’s second largest economy.

Japanese business confidence and plans for capital expenditures managed to hold steady in December, but the Bank of Japan’s Tankan survey released overnight showed companies expect conditions to worsen in the next three months.

Over in Europe, data from the euro zone revealed the weakest business activity in the private sector in just over four years, highlighting the slowing growth in the region.

The Bundesbank also warned Friday that growth in Germany, the motor of the euro area economy, will slow in the coming years, coming on the back of remarks made by European Central Bank president Mario Draghi on Thursday that risks to the economic outlook for the region were tilting to the downside.

3. Global stocks tumble over economic concerns

After a mixed close on Wall Street on Thursday, the weak Chinese data sent Asian stocks into a tailspin. China’s Shanghai Composite closed with losses of 1.5%, while Japan’s Nikkei 225 slumped 2.1%.

The downbeat mood spread to Europe where the region’s own weak data only added pessimism to the selloff. With all of the major European indices in the red, the pan-European Stoxx 600 fell 0.98% by 5:38 AM ET (10:38 GMT).

U.S. stock futures pointed to a lower open on Friday as investors shared in the worries over the global economy. At 5:40 AM ET (10:40 GMT), the blue-chip Dow futures fell 221 points, or 0.90%,S&P 500 futures lost 23 points, or 0.88%, while the Nasdaq 100 futures traded down 71 points, or 1.06%.

4. Risk of U.S. recession jumps to highest level since financial crisis

Amid worries over the global economy, the risk of a recession in the U.S. during the next two years jumped to 40%, according to a recent Reuters survey.

That was compared to the 35% seen when the poll was conducted in November and was the highest level since January 2008, just months before the beginning of the financial crisis that led to the Great Recession.

As market attention shifts to the Federal Reserve’s monetary policy decision next week, economists have been ratcheting down expectations that the central bank will be able to continue the current pace of rate hikes next year.

While markets widely anticipate that the Fed will hike rates by a quarter point at next week’s meeting, they are pricing in just one further increase in 2019.

5. Oil dips after boost from supply deficit hopes

Oil prices headed lower on Friday as investors took profit after a nearly 3% surge in the prior session. Thursday’s boost was thanks to updated forecasts from the International Energy Agency (IEA) which said it expects a supply deficit in the second quarter of 2019 if OPEC and its allies move forward with plans to reduce output starting in January.

U.S. crude oil futures lost 20 cents, or 0.38%, to $52.38 by 5:41 AM ET (10:41 GMT), while Brent oil traded down 29 cents, or 0.47%, to $61.16.

Read more: 3 Key Developments That Will Move Oil Markets In Early 2019 -Ellen R. Wald

Concerns of oversupply will remain in the spotlight on Friday as investors keep an eye on a measure of future output stateside with Baker Hughes’ weekly data out at 1:00 PM (18:00 GMT).

The U.S. rig count dropped by 10 to 877 last week while the Energy Information Administration reported Wednesday that U.S. oil production had fallen from a record high of 11.7 million barrels per day to 11.6 million, easing concerns over escalating production.

However, in its monthly report released Thursday, the IEA warned however that U.S. shale's influence over global crude markets would only get stronger.

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India stocks higher at close of trade; Nifty 50 up 0.13%

दिसम्बर 14, 2018, 10:45

Investing.com – India stocks were higher after the close on Friday, as gains in the Oil&Gas, Public Sector Undertakings and Power sectors led shares higher.

At the close in NSE, the Nifty 50 gained 0.13%, while the BSE Sensex 30 index climbed 0.09%.

The best performers of the session on the Nifty 50 were Bharti Airtel Ltd. (NS:BRTI), which rose 5.33% or 16.15 points to trade at 319.25 at the close. Meanwhile, Yes Bank Ltd (NS:YESB) added 3.23% or 5.65 points to end at 180.35 and Bharat Petroleum Corp. Ltd. (NS:BPCL) was up 3.00% or 10.05 points to 345.30 in late trade.

The worst performers of the session were Housing Development Finance Corporation Ltd (NS:HDFC), which fell 1.95% or 37.95 points to trade at 1904.10 at the close. HCL Technologies Ltd (NS:HCLT) declined 1.72% or 16.85 points to end at 961.20 and Wipro Ltd (NS:WIPR) was down 1.08% or 3.65 points to 333.10.

The top performers on the BSE Sensex 30 were Bharti Airtel Ltd (BO:BRTI) which rose 5.32% to 318.80, Yes Bank Ltd (BO:YESB) which was up 3.23% to settle at 180.35 and Oil And Natural Gas Corporation Ltd (BO:ONGC) which gained 2.58% to close at 146.95.

The worst performers were Housing Development Finance Corporation Ltd (BO:HDFC) which was down 1.95% to 1904.15 in late trade, Wipro Ltd (BO:WIPR) which lost 1.67% to settle at 333.10 and Larsen&Toubro Ltd (BO:LART) which was down 0.79% to 1413.85 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 840 to 733 and 57 ended unchanged; on the Bombay Stock Exchange, 1250 fell and 1224 advanced, while 134 ended unchanged.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 2.52% to 15.1575 a new 1-month low.

Gold Futures for February delivery was down 0.37% or 4.65 to $1242.75 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 0.46% or 0.24 to hit $52.34 a barrel, while the February Brent oil contract fell 0.55% or 0.34 to trade at $61.11 a barrel.

USD/INR was up 0.34% to 71.785, while EUR/INR fell 0.12% to 81.1320.

The US Dollar Index Futures was up 0.46% at 97.505.

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U.S. Dollar Rises as Investors Look Ahead to Fed Meeting

दिसम्बर 14, 2018, 10:20

Investing.com - The U.S. dollar was higher on Friday, as investors turned their focus to the expected Federal Reserve rate increase next week, even as uncertainty over next year’s hikes kept gains in check.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.5% to 97.52 as of 5:20 AM ET (10:20 GMT).

The Fed meets for two days next week and is expected to increase rates, with a 79.2% chance priced in, according to Investing.com’s Fed Rate Monitor Tool.

Still, investors remain uncertain of the number of rate hikes in 2019, after dovish comments from Fed officials who have signaled that interest rates are nearing a "neutral range" where they do not stimulate or hinder economic growth.

"There is a lot of disagreement in the markets over the Fed's rate hike course in 2019 with traders expecting anywhere between one to four rate hikes," said Michael McCarthy, chief markets strategist at CMC markets.

The dollar was lower against the safe-heaven Japanese yen, with USD/JPY decreasing 0.07% to 113.53.

Meanwhile the pound was lower as Brexit woes continued, as it seems unlikely that UK Prime Minister Theresa May’s party will support her agreement with Brussels on leaving the European Union in March. GBP/USD slipped 0.3% to 1.2605.

The euro was pushed down by the stronger dollar, with EUR/USD falling 0.6% to 1.1291.

Elsewhere, NZD/USD slumped 0.9% to 0.6788 while AUD/USD was down 0.8% to 0.7163. The Canadian dollar decreased with USD/CAD up 0.3% to 1.3389.

-Reuters contributed to this report.

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Indonesia stocks lower at close of trade; IDX Composite Index down 0.13%

दिसम्बर 14, 2018, 10:15

Investing.com – Indonesia stocks were lower after the close on Friday, as losses in the Mining, Basic Industry and Infrastructure sectors led shares lower.

At the close in Jakarta, the IDX Composite Index fell 0.13%.

The best performers of the session on the IDX Composite Index were Mega Perintis Tbk PT (JK:ZONE), which unchanged 0.00% or 0 points to trade at 690 at the close. Meanwhile, Global Teleshop Tbk (JK:GLOB) added 24.18% or 44 points to end at 226 and Minna Padi Investama Tbk (JK:PADI) was up 23.66% or 155 points to 810 in late trade.

The worst performers of the session were Perdana Bangun Pusaka Tbk PT (JK:KONI), which fell 24.44% or 110 points to trade at 340 at the close. Renuka Coalindo Tbk (JK:SQMI) declined 24.40% or 102 points to end at 316 and Sunson Textile Manufacturer (JK:SSTM) was down 22.35% or 114 points to 396.

Falling stocks outnumbered advancing ones on the Jakarta Stock Exchange by 220 to 156 and 152 ended unchanged.

Shares in Mega Perintis Tbk PT (JK:ZONE) unchanged to all time highs; unchanged 0.00% or 0 to 690.

Crude oil for January delivery was down 0.06% or 0.03 to $52.55 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 0.20% or 0.12 to hit $61.33 a barrel, while the February Gold Futures contract fell 0.33% or 4.10 to trade at $1243.30 a troy ounce.

USD/IDR was up 0.64% to 14603.3, while AUD/IDR fell 0.80% to 10467.40.

The US Dollar Index Futures was up 0.50% at 97.540.

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Gold Falls as Focus Turns to Fed

दिसम्बर 14, 2018, 09:52

Investing.com - Gold prices were lower on Friday, as the U.S. dollar rose in anticipation of a Federal Reserve rate hike next week.

Comex gold futures for February delivery slumped 0.3% to $1,242.95 a troy ounce as of 4:51 AM ET (9:51 GMT).

The price of bullion was pushed lower by a stronger greenback. The Fed is expected to increase rates by 25 basis points at its next meeting on Wednesday, its fourth rate hike this year.

Chances of a hike are priced in at 79.2%, according to Investing.com’s Fed Rate Monitor Tool.

Dollar gains are likely to be short lived however, as the central bank is expected to slow down its pace of rate hikes in 2019.

A mix of inflation data and dovish comments from Fed policymakers has investors uncertain about how many rate hikes there will be next year.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, rose 0.5% to 97.55.

The precious metal usually falls as the dollar rises, as it is denominated in the U.S. currency and is sensitive to moves. Bullion becomes more expensive for holders of other currencies when the dollar rises and cheaper when it falls.

Other metals were lower on the Comex, with silver futures falling 1% to $14.697 a troy ounce. Among other precious metals, Platinum Futures decreased 0.5% to $793.05 while Palladium Futures dipped 1.5% to $1,172.70 an ounce. Copper futures were down 1.3% to $2.731 a pound.

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Euro Zone Business Growth Hits 4-Year Low in December: PMI

दिसम्बर 14, 2018, 09:01

Investing.com – Euro zone private sector activity slowed in December to its weakest level in more than four years, according to survey data released on Friday.

The preliminary reading of the IHS Markit services purchasing managers’ index came in at 51.4 this month from 53.4 in November.

Economists had forecast a reading of 53.5.

The manufacturing PMI fell to 51.4 compared to expectations for 51.9 and from 51.8 a month earlier.

The composite output index, which measures the combined output of both the manufacturing and service sectors fell to 51.3 from 52.7, against expectations for 52.8. That was its lowest level since November 2014.

The report highlighted that new business inflows almost stalled, job creation slipped to a two-year low and business optimism deteriorated.

“An undercurrent of slowing economic growth was exacerbated by protests in France and on-going weak demand for autos,” IHS Markit explained.

“Companies are worried about the global economic and political climate, with trade wars and Brexit adding to increased political tensions within the euro area. The surveys also point to further signs that the struggling autos sector continued to act as a drag on the region’s economy,” IHS Markit chief economist Chris Williamson said.

He added that the surveys suggest growth of just 0.1% for the region in the fourth quarter.

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Japan stocks lower at close of trade; Nikkei 225 down 2.02%

दिसम्बर 14, 2018, 08:35

Investing.com – Japan stocks were lower after the close on Friday, as losses in the Machinery, Precision Instruments and Communication sectors led shares lower.

At the close in Tokyo, the Nikkei 225 fell 2.02%.

The best performers of the session on the Nikkei 225 were Showa Denko K.K. (T:4004), which rose 1.61% or 60.0 points to trade at 3790.0 at the close. Meanwhile, Mitsubishi Estate Co Ltd (T:8802) added 1.51% or 27.5 points to end at 1846.5 and Isetan Mitsukoshi Holdings Ltd. (T:3099) was up 1.37% or 18.0 points to 1333.0 in late trade.

The worst performers of the session were Tokyo Dome Corp. (T:9681), which fell 7.65% or 75.0 points to trade at 905.0 at the close. Yahoo Japan Corp. (T:4689) declined 5.73% or 18.0 points to end at 296.0 and Tokyo Electron Ltd. (T:8035) was down 5.46% or 770.0 points to 13345.0.

Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 2871 to 703 and 144 ended unchanged.

Shares in Yahoo Japan Corp. (T:4689) fell to 5-year lows; losing 5.73% or 18.0 to 296.0. Shares in Tokyo Electron Ltd. (T:8035) fell to 52-week lows; losing 5.46% or 770.0 to 13345.0.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was down 7.72% to 19.59.

Crude oil for January delivery was down 0.55% or 0.29 to $52.29 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 0.88% or 0.54 to hit $60.91 a barrel, while the February Gold Futures contract fell 0.36% or 4.50 to trade at $1242.90 a troy ounce.

USD/JPY was down 0.04% to 113.57, while EUR/JPY fell 0.36% to 128.62.

The US Dollar Index Futures was up 0.32% at 97.368.

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China stocks lower at close of trade; Shanghai Composite down 1.53%

दिसम्बर 14, 2018, 07:35

Investing.com – China stocks were lower after the close on Friday, as losses in the Travel&Leisure, Technology Hardware&Equipment and Retailers sectors led shares lower.

At the close in Shanghai, the Shanghai Composite lost 1.53%, while the SZSE Component index declined 2.29%.

The best performers of the session on the Shanghai Composite were Zhejiang Tuna Environmental Science &Technology Co Ltd (SS:603177), which rose 10.03% or 0.98 points to trade at 10.75 at the close. Meanwhile, Poten Environment Group Co Ltd (SS:603603) added 10.02% or 1.49 points to end at 16.36 and Zhongchangmari (SS:600242) was up 9.99% or 1.430 points to 15.750 in late trade.

The worst performers of the session were Huayi Electric Co Ltd (SS:600290), which fell 9.25% or 0.430 points to trade at 4.220 at the close. Shanghai Shibei Hi-Tech Co Ltd A (SS:600604) declined 8.31% or 0.60 points to end at 6.62 and Deluxe Family Co Ltd (SS:600503) was down 8.26% or 0.300 points to 3.330.

The top performers on the SZSE Component were Shenzhen Jiawei Photovoltaic Lighting Co Ltd (SZ:300317) which rose 5.62% to 5.64, Tonghua Golden-Horse Pharmaceutical Industry Co Ltd (SZ:000766) which was up 3.67% to settle at 8.48 and Shenzhen Agricultural Products Co Ltd (SZ:000061) which gained 3.22% to close at 5.13.

The worst performers were Hualan Biological EngineeringInc (SZ:002007) which was down 10.01% to 34.25 in late trade, Shenzhen Shenxin Taifeng Group Co Ltd (SZ:000034) which lost 10.01% to settle at 14.03 and Jiangxi Boya Bio Pharma (SZ:300294) which was down 9.48% to 27.32 at the close.

Falling stocks outnumbered advancing ones on the Shanghai Stock Exchange by 1345 to 107 and 23 ended unchanged.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was unchanged 0.00% to 25.26.

Gold Futures for February delivery was down 0.32% or 4.00 to $1243.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 0.65% or 0.34 to hit $52.24 a barrel, while the February Brent oil contract fell 0.76% or 0.47 to trade at $60.98 a barrel.

USD/CNY was up 0.20% to 6.8957, while EUR/CNY rose 0.08% to 7.8249.

The US Dollar Index Futures was up 0.18% at 97.227.

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Oil Prices Fall After Jumping 3% on Mid-2019 Supply Deficit Hopes

दिसम्बर 14, 2018, 07:06

Investing.com - Oil prices fell on Friday in Asia after a 3% jump in the previous session on suggestions that global supplies could balance by the middle of next year.

Crude Oil WTI Futures for January delivery declined 0.4% to $52.40 per barrel at 2:06 AM ET (07:06 GMT) on the New York Mercantile Exchange.

London’s Intercontinental Exchange showed that Brent Oil Futures for February delivery fell 0.6% to $61.09 a barrel.

The International Energy Agency (IEA), which represents the interest of energy consumers in the West, gave oil bulls some hope by forecasting a supply deficit in the second quarter of next year, versus a month ago when it said that it expected a surplus for all of 2019.

The forecast came after the OPEC said earlier this week that 2019 demand for its crude would fall to 31.44 million barrels per day, 100,000 bpd less than predicted last month and 1.53 million less than it currently produces.

OPEC and its allies reached an agreed last week to cut oil production by more than the market had expected.

Meanwhile, the Energy Information Administration (EIA) reported on Thursday that U.S. crude inventories fell by 1.2 million barrels in the week to Dec. 7. However, the decline was less than expected, as markets previously forecasted a decrease of 3 million barrels.

In other news, Oman will be reducing oil output by 2% from January for an initial period of six months, Reuters reported citing a letter sent to customers of Omani oil by the country's oil and gas ministry.

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Asian Markets Extend Losses as China Data Disappoints

दिसम्बर 14, 2018, 06:51

Investing.com - Asian stocks extended their losses in afternoon trade on Friday after China reported weaker-than-expected data.

Growth in Retail sales and industrial output in China slowed more than expected in November, official data showed on Friday.

Retail sales grew 8.1% year on year, according to China’s National Bureau of Statistics, compared with the median forecast of 8.8%. The growth was the weakest pace since 2003, according to Reuters’ records.

Meanwhile, growth in industrial output also dipped half a percentage point to notch a year-on-year rise of 5.4%, lower than the 5.9% that markets projected.

On the other hand, fixed-asset investment grew 5.9% from January to November, marginally higher than the previous expected 5.8%.

Despite the weak data, China's statistics bureau spokesman Mao Shengyong said China is on track to hit its 2018 GDP growth target of around 6.5%, although the economy would be facing more external uncertainties in 2019.

Weaker industrial output and retail sales growth in November showed that downward pressure on the economy is increasing, he added.

Meanwhile, although not a directional driver, Bloomberg reported that the White House would later in the day officially announce a delay in tariff hike on Chinese imported goods.

The report came after China promised to remove retaliatory tariffs on U.S. automobiles and postpone some targets of its ambitious plans to dominate high-end technologies, the “Made in China 2025” plan, by 10 years.

“They’ve started to make some very early stage, very preliminary, but very welcome moves,” Commerce Secretary Wilbur Ross told Bloomberg in an interview on Thursday.

The Shanghai Composite and the SZSE Component fell 1.5% and 2.3% respectively by 1:49 AM ET (06:49 GMT). Hong Kong’s Hang Seng Index declined 1.7%.

Real estate developer China Jinmao Holdings Group Ltd (HK:0817), a subsidiary of the state-backed conglomerate Sinochem Corporation, issued CNY 2 billion perpetual medium-term notes on Thursday.

Jinmao was granted the approval to raise up to CNY 10 billion in two years. The company said the first batch of notes aims to raise funds to support the development and construction of property projects and to add to its working capital.

Meanwhile, Japan’s Nikkei 225 slumped 2.1% even after a preliminary survey compiled by IHS Markit showed the country’s manufacturing activity expanded in December.

The Flash Markit/Nikkei Japan Manufacturing Purchasing Managers' Index (PMI) came in at 52.4 in December, compared with 52.2 in November, the survey showed on Friday.

Separately, the Bank of Japan released the Tankan survey on Friday that showed large Japanese manufacturers’ sentiment stood at plus 19 in December, unchanged from three months ago and beating a median market forecast of plus 17.

The index for non-manufacturers rose to plus 24, exceeding the general consensus of plus 21.

The Tankan survey “is a better indication of the underlying strength of the Japanese economy than the prior GDP figures,” said Robert Carnell, ING’s chief economist and head of research in the Asia Pacific.

Apple (NASDAQ:AAPL) screen supplier Japan Display Inc (T:6740) jumped as much as 40% in morning trade on reports that the company is in discussion with Chinese businesses and investment funds get support for its turnaround efforts.

Elsewhere, South Korea’s KOSPI traded 1.3% lower, while Australia’s ASX 200 was also down 1.1%.

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Taiwan stocks lower at close of trade; Taiwan Weighted down 0.86%

दिसम्बर 14, 2018, 06:45

Investing.com – Taiwan stocks were lower after the close on Friday, as losses in the , Machinery and Oil, Gas&Electricity sectors led shares lower.

At the close in Taiwan, the Taiwan Weighted declined 0.86%.

The best performers of the session on the Taiwan Weighted were Bonny Worldwide Ltd (TW:8467), which rose 10.00% or 2.75 points to trade at 30.25 at the close. Meanwhile, Giantplus Technology Co Ltd (TW:8105) added 9.76% or 1.00 points to end at 11.25 and FocalTech Systems Co Ltd (TW:3545) was up 9.02% or 2.40 points to 29.00 in late trade.

The worst performers of the session were Green Energy Technology Inc (TW:3519), which fell 9.95% or 0.61 points to trade at 5.52 at the close. San Chih Semiconductor Inc Ltd (TW:3579) declined 9.90% or 0.86 points to end at 7.83 and Tatung Co (TW:2371) was down 9.87% or 3.55 points to 32.40.

Falling stocks outnumbered advancing ones on the Taiwan Stock Exchange by 549 to 247 and 114 ended unchanged.

Shares in Green Energy Technology Inc (TW:3519) fell to all time lows; down 9.95% or 0.61 to 5.52. Shares in San Chih Semiconductor Inc Ltd (TW:3579) fell to 5-year lows; losing 9.90% or 0.86 to 7.83.

Crude oil for January delivery was down 0.55% or 0.29 to $52.29 a barrel. Elsewhere in commodities trading, Brent oil for delivery in February fell 0.78% or 0.48 to hit $60.97 a barrel, while the February Gold Futures contract fell 0.32% or 3.95 to trade at $1243.45 a troy ounce.

USD/TWD was up 0.13% to 30.876, while TWD/CNY rose 0.09% to 0.2229.

The US Dollar Index Futures was up 0.17% at 97.218.

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China Jinmao Issues ¥2B Medium-Term Notes to Boost Property Projects

दिसम्बर 14, 2018, 06:05

Investing.com - Real estate developer China Jinmao Holdings Group Ltd (HK:0817), a subsidiary of the state-backed conglomerate Sinochem Corporation, issued RMB2 billion perpetual medium-term notes on Thursday.

Jinmao was granted the approval to raise up to RMB10 billion in two years. The company said the first batch of notes aims to raise funds to support the development and construction of property projects and to add to its working capital.

The notes are unsecured, and Jinmao subsidiary Jinmao Shanghai can redeem the notes on the third and each of the subsequent interest payment days. Jinmao Shanghai is set to determine the coupon rate, which will be announced after the notes are issued.

This is not the first attempt for the company to raise funds. In January, it announced plans to raise $425 million from placing 900 million shares at a discount towards working capital, according to the South China Morning Post.

Jinmao’s shares last traded at HK$3.70 at 12:15 PM ET (05:15 GMT) on Friday, down 1.9%.

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Australia stocks lower at close of trade; S&P/ASX 200 down 1.05%

दिसम्बर 14, 2018, 06:00

Investing.com – Australia stocks were lower after the close on Friday, as losses in the Telecoms Services, IT and Financials sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 declined 1.05%.

The best performers of the session on the S&P/ASX 200 were Sigma Pharmaceuticals Ltd (AX:SIG), which rose 43.21% or 0.175 points to trade at 0.580 at the close. Meanwhile, Infigen Energy Ltd (AX:IFN) added 11.76% or 0.050 points to end at 0.475 and Australian Pharma Industries Ltd (AX:API) was up 8.50% or 0.125 points to 1.595 in late trade.

The worst performers of the session were Nine Entertainment Co Holdings Ltd (AX:NEC), which fell 8.90% or 0.14 points to trade at 1.49 at the close. Domain Holdings Australia Ltd (AX:DHG) declined 8.66% or 0.220 points to end at 2.320 and Speedcast International Ltd (AX:SDA) was down 6.22% or 0.230 points to 3.470.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 643 to 418 and 349 ended unchanged.

Shares in Nine Entertainment Co Holdings Ltd (AX:NEC) fell to 52-week lows; down 8.90% or 0.14 to 1.49. Shares in Domain Holdings Australia Ltd (AX:DHG) fell to all time lows; down 8.66% or 0.220 to 2.320.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 3.37% to 16.908.

Gold Futures for February delivery was down 0.17% or 2.10 to $1245.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 0.42% or 0.22 to hit $52.36 a barrel, while the February Brent oil contract fell 0.72% or 0.44 to trade at $61.01 a barrel.

AUD/USD was down 0.50% to 0.7191, while AUD/JPY fell 0.62% to 81.60.

The US Dollar Index Futures was up 0.06% at 97.113.

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Bitcoin Slips as Crypto Startup Basis Shuts Down

दिसम्बर 14, 2018, 05:56

Investing.com - Bitcoin and other major cryptocurrencies edged down on Friday morning in Asia, as digital token protocol Basis halted operations and returned its capital to investors due to regulatory concerns.

Bitcoin lost 3.08% to $3,305 and Ethereum also dropped 2.42% to $86.2 at 10:43PM ET (02:43 GMT).

XRP slipped 1.32% to $0.29919, while Litecoin fell 3.35% to $23.191.

Aimed to launch a stable and decentralised token resistant to volatility, Basis announced on Thursday its decision to shut down and return capital to its investors.

The company cited the “serious negative impact” of the need to comply with U.S. securities regulation.

“As regulatory guidance started to trickle out over time, our lawyers came to a consensus that there would be no way to avoid securities status for bond and share tokens, though Basis would like to be free of this characterisation,” Basis CEO Nader Al-Naji said in a statement.

The startup’s investors included Google’s capital investment arm GV, Silicon Valley venture capital firm Andreessen Horowitz and Bain Capital Ventures, among others.

Still, some countries remain interested in driving digital currencies.

The Gulf Times reported that the central bank of the United Arab Emirates is working on a joint project with the Saudi Arabia Monetary Authority to launch a cryptocurrency for cross-border transactions.

“This would be more efficient. This is between us and the banks,” said UAE central bank Governor Mubarak Rashed Al Mansouri.

French politicians also urged President Emmanuel Macron to invest EUR500 million in the blockchain sector. They presented a report on the ledger technology on Wednesday which proposed making France a “blockchain nation,” according to Cryptovest.

“This 10-year-old [blockchain] technology is moving out of the experimental stage into an industrial implementation. The public will see the development of its uses in everyday life,” Jean-Michel Mis from the ruling party La Republique En Marche said.

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Yuan Falls on Weak Chinese Data; Dollar Edges Up

दिसम्बर 14, 2018, 05:51

Investing.com - The yuan fell on Friday in Asia after China reported a set of weak data.

The USD/CNY pair traded 0.13% higher to 6.8917 by 12:30 AM ET (05:30 GMT).

The fall in the yuan came after official data showed growth in retail sales and industrial output in China slowed more than expected in November.

Retail sales grew 8.1% year on year, compared with the median forecast of 8.8%. The growth was the weakest pace since 2003, according to Reuters’ records.

Growth in industrial output also dipped half a percentage point to notch a year-on-year rise of 5.4%, lower than the 5.9% that markets projected.

On the other hand, fixed-asset investment grew 5.9% from January to November, marginally higher than the previous expected 5.8%.

The People's Bank of China (PBOC) has set the yuan reference rate at 6.8750 vs the previous day's fix of 6.8769.

Meanwhile, the U.S. dollar index that tracks the greenback against a basket of other currencies gained 0.1% to 97.118, as investors awaited an expected U.S. interest rate hike next week.

The Federal Reserve is widely expected to raise interest rates the fourth time this year, but analysts will likely focus more on the policy outlook for 2019, over which there is more uncertainty.

"There is a lot of disagreement in the markets over the Fed's rate hike course in 2019 with traders expecting anywhere between one to four rate hikes," said Michael McCarthy, chief markets strategist at CMC markets.

McCarthy said markets will be watching for any revisions in the Fed's growth and inflation outlook. He sees more upside to the dollar versus the euro and yen if its forward guidance paints a stronger picture for the U.S. economy.

Elsewhere, the USD/JPY pair slipped 0.1% to 113.50.

The AUD/USD pair and the NZD/USD pair were down 0.4% and 0.8% respectively.

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China Retail Sales, Industrial Output Growth Both Miss Expectations in November

दिसम्बर 14, 2018, 04:56

Investing.com - Growth in Retail sales and industrial output in China slowed more than expected in November, official data showed on Friday.

Retail sales grew 8.1% year on year, according to China’s National Bureau of Statistics, compared with the median forecast of 8.8%. The growth was the weakest pace since 2003, according to Reuters’ records.

Meanwhile, growth in industrial output also dipped half a percentage point to notch a year-on-year rise of 5.4%, lower than the 5.9% that markets projected.

On the other hand, fixed-asset investment grew 5.9% from January to November, marginally higher than the previous expected 5.8%.

The weak Chinese data came amidst a yet unresolved Sino-U.S. trade dispute.

However, there have been signs of progress in the U.S.-China talks since this month as China appeared to be taking more steps to ease tension with the U.S.

Beijing promised to remove retaliatory tariffs on U.S. automobiles and postpone some targets of its ambitious plans to dominate high-end technologies, the “Made in China 2025” plan, by 10 years.

The “Made in China 2025” is a strategic plan announced in May 2015. The plan aims to lessen China’s dependency on imported technology and has been a main target in Trump’s trade war.

China will also seek to be more open to participation by foreign companies, according to reports.

Bloomberg reported that the Trump administration would announce later in the day that it is officially delaying the tariff hike from 10% to 25% on $200 billion worth of Chinese goods until March.

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Adobe Earnings miss, Revenue beats In Q4

दिसम्बर 14, 2018, 04:06

Investing.com - Adobe (NASDAQ:ADBE) reported fourth quarter earnings that missed analysts' expectations on Thursday and revenue that topped forecasts.

The firm reported earnings per share of $1.83 on revenue of $2.46B. Analysts polled by Investing.com forecast EPS of $1.89 on revenue of $2.43B. That compared to EPS of $1 on revenue of $2.01B in the same period a year earlier. The company had reported EPS of $1.73 on revenue of $2.29B in the previous quarter.

For the year, Adobe shares are up 41.57%, outperforming the Nasdaq which is up 1.91% year to date.

Adobe follows other major Technology sector earnings this month


On November 27, Salesforce.com reported third quarter EPS of $0.61 on revenue of $3.39B, compared to forecasts of EPS of $0.5 on revenue of $3.37B.

Broadcom earnings beat analyst's expectations on December 6, with fourth quarter EPS of $5.85 on revenue of $5.45B. Investing.com analysts expected EPS of $5.58 on revenue of $5.4B

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

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Costco Earnings miss, Revenue beats In Q1

दिसम्बर 14, 2018, 04:04

Investing.com - Costco (NASDAQ:COST) reported first quarter earnings that missed analysts' expectations on Thursday and revenue that topped forecasts.

The firm reported earnings per share of $1.61 on revenue of $35.07B. Analysts polled by Investing.com forecast EPS of $1.62 on revenue of $34.52B. That compared to EPS of $1.45 on revenue of $31.81B in the same period a year earlier. The company had reported EPS of $2.36 on revenue of $44.41B in the previous quarter.

For the year, Costco shares are up 21.7%, outperforming the Nasdaq which is up 1.91% year to date.

Costco follows other major Services sector earnings this month


On November 15, Walmart reported third quarter EPS of $1.08 on revenue of $124.9B, compared to forecasts of EPS of $1.01 on revenue of $125.42B.

Lowe’s earnings beat analyst's expectations on November 20, with third quarter EPS of $1.04 on revenue of $17.42B. Investing.com analysts expected EPS of $0.98 on revenue of $17.36B

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

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Asian Markets Fall; White House to Officially Delay China Tariff Hike, Reports Say

दिसम्बर 14, 2018, 02:10

Investing.com - Asian stocks fell in morning trade on Friday, despite reports that White House is making official its decision to delay a tariff hike on $200 billion worth of Chinese goods until Mar. 1.

Citing two people familiar with the matter, Bloomberg said a notice in the Federal Register is expected to be published later in the day.

The tariff increase was initially planned for Jan. 1.

The report came after China promised to remove retaliatory tariffs on U.S. automobiles and postpone some targets of its ambitious plans to dominate high-end technologies, the “Made in China 2025” plan, by 10 years.

“They’ve started to make some very early stage, very preliminary, but very welcome moves,” Commerce Secretary Wilbur Ross told Bloomberg in an interview on Thursday.

However, the reports failed to lift sentiment, as the Shanghai Composite and the SZSE Component fell 0.6% and 0.8% respectively by 9:10 PM ET (02:10 GMT). Hong Kong’s Hang Seng Index declined 1.5%.

Meanwhile, Japan’s Nikkei 225 slumped 1.8% even after a preliminary survey compiled by IHS Markit showed the country’s manufacturing activity expanded in December.

The Flash Markit/Nikkei Japan Manufacturing Purchasing Managers' Index (PMI) came in at 52.4 in December, compared with 52.2 in November, the survey showed on Friday.

Separately, the Bank of Japan released the Tankan survey on Friday that showed large Japanese manufacturers’ sentiment stood at plus 19 in December, unchanged from three months ago and beating a median market forecast of plus 17.

The index for non-manufacturers rose to plus 24, exceeding the general consensus of plus 21.

The Tankan survey “is a better indication of the underlying strength of the Japanese economy than the prior GDP figures,” said Robert Carnell, ING’s chief economist and head of research in the Asia Pacific.

Apple (NASDAQ:AAPL) screen supplier Japan Display Inc (T:6740) jumped as much as 40% in morning trade on reports that the company is in discussion with Chinese businesses and investment funds to get support for its turnaround efforts.

Elsewhere, South Korea’s KOSPI traded 1.3% lower, while Australia’s ASX 200 was also down 0.9%.

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Day Ahead: Top 3 Things to Watch

दिसम्बर 13, 2018, 08:31

Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.

1. November Retail Sales on Tap

Retailers have been struggling lately, with the SPDR S&P Retail (NYSE:XRT) ETF down about 17% in the last three months.

Tomorrow’s retail sales figures will give investors insight into how businesses fared in November, which includes Black Friday but not the following weekend and Cyber Monday.

The Commerce Department will release the numbers at 8:30 AM ET (13:50 GMT).

On average, economists expect that retail sales rose 0.1% last month and that core retail sales, which exclude automobile sales, rose 0.2%.

2. December Manufacturing PMI Expected to Dip

Following retail sales, there will be data on industrial and manufacturing activity.

At 9:15 AM ET, the latest figures on November industrial production arrive, with economists looking for a 0.3% rise.

At 9:45 AM ET, the preliminary December manufacturing purchasing managers index (PMI) will be reported. Economists forecast that the PMI ticked down to 55.1.

October business inventories come in at 10:00 AM ET, with a 0.6% rise predicted.

3. Oil Trades Look to Rig Count

Oil prices staged a surprise late charge to settle 3% higher today.

But analysts warned that there was little fundamental support for the move, which could mean another whipsaw day of price action tomorrow.

"It doesn't look like there's much news behind these gains," said John Kilduff, partner at New York energy hedge fund Again Capital. "I'd be wary, to say the least."

Tomorrow the Baker Hughes weekly oil rig count comes out at 1:00 PM ET (18:00 GMT). Last week the number of rigs in operation stood at 877.

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Stocks - Dow Closes Higher Despite Giving up Gains in Roller-Coaster Trade

दिसम्बर 13, 2018, 09:10

Investing.com - The Dow closed higher Thursday, despite giving up most of its gains, as optimism over U.S.-China trade faded and weakness in financials weighed.

The Dow Jones Industrial Average rose 0.29% to 24,597, below its session high of 24,740. The S&P 500 fell 0.02%, while the Nasdaq Composite fell 0.39%.

Positive sentiment on trade faded, pressuring the broader market, even as a Chinese ministry spokesman touted progress on U.S.-China talks and reportedly said any U.S. trade delegation would be welcome.

The positive sound bite from Beijing on trade comes a day after reports that China could revamp its economic plans to give foreign companies more access to its domestic market.

Defensive corners of the market like consumer staples, and utilities, were in favor, underscoring the weaker sentiment on risk.

Procter & Gamble (NYSE:PG) led consumer staples higher, rising more than 2% after being upgraded to buy from neutral at Merrill Lynch.

Beyond trade, the broader market was hurt by ongoing weakness in financials as bank stocks continued to fall ahead of the Federal Reserve meeting next week, when the central bank is expected to rein in its outlook on rate hikes.

Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS) and Citigroup (NYSE:C) ended the day in the red.

Energy, meanwhile, supported the broader market on the back of rise in oil prices on signs tightening crude supply following reports of falling stockpiles at a key delivery hub in Oklahoma.

Losses in industrials, meanwhile, were limited by a rally in General Electric (NYSE:GE) after a long-time critic JPMorgan (NYSE:JPM) upgraded its outlook on the conglomerate, citing an improved balance sheet.

General Electric also announced it will launch a new Industrial Internet of Things software company, which would operate as a wholly-owned and independently-run GE business with $1.2 billion in annual software revenue.

In corporate earnings, Adobe Systems (NASDAQ:ADBE), after the close Thursday, reported earnings that missed on both the top and bottom lines.

Starbucks (NASDAQ:SBUX) shares fell in after-hours as the coffee chain's subdued outlook on longer-term growth offset above-forecast earnings.

In political news, meanwhile, federal prosecutors reportedly launched a probe into whether President Donald Trump's 2017 inauguration misspent funds it raised and also whether donors funded the campaign in exchanged for access to the incoming Trump administration as well as “policy concessions or to influence official administration positions,” The Wall Street Journal reported, citing sources.

Top S&P 500 Gainers and Losers Today:

General Electric (NYSE:GE), Aflac (NYSE:AFL) and Kimberly-Clark (NYSE:KMB) were among the top S&P 500 gainers for the session.

Monster Beverage (NASDAQ:MNST), Hanesbrands (NYSE:HBI) and Under Armour (NYSE:UA) were among the worst S&P 500 performers of the session.

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Mexico stocks higher at close of trade; S&P/BMV IPC up 1.54%

दिसम्बर 13, 2018, 09:29

Investing.com – Mexico stocks were higher after the close on Thursday, as gains in the Telecoms Services, Industrials and Consumer Staples sectors led shares higher.

At the close in Mexico, the S&P/BMV IPC added 1.54%.

The best performers of the session on the S&P/BMV IPC were Banco Del Bajio SA Institution De Banca Multiple (MX:BBAJIOO), which rose 0.46% or 0.170 points to trade at 36.800 at the close. Meanwhile, Grupo Televisa SAB Unit (MX:TLVACPO) unchanged 0.00% or 0.00 points to end at 52.38 and America Movil SAB de CV (MX:AMXL) was unchanged 0.00% or 0.000 points to 13.850 in late trade.

The worst performers of the session were GMexico Transportes SA de CV (MX:GMXT), which fell 3.07% or 0.780 points to trade at 24.600 at the close. Grupo Financiero Santander Mexico SAB de CV Class B (MX:BSMXB) declined 2.12% or 0.550 points to end at 25.360 and Grupo Cementos De Chihuahua (MX:GCC) was down 1.07% or 1.110 points to 102.440.

Rising stocks outnumbered declining ones on the Mexico Stock Exchange by 132 to 101 and 17 ended unchanged.

Shares in Grupo Televisa SAB Unit (MX:TLVACPO) unchanged to 5-year lows; unchanged 0.00% or 0.00 to 52.38.

Gold Futures for February delivery was down 0.25% or 3.10 to $1246.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 3.85% or 1.97 to hit $53.12 a barrel, while the February Brent oil contract rose 2.86% or 1.72 to trade at $61.87 a barrel.

USD/MXN was up 1.13% to 20.2994, while EUR/MXN rose 1.00% to 23.0657.

The US Dollar Index Futures was up 0.04% at 97.058.

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U.S. stocks mixed at close of trade; Dow Jones Industrial Average up 0.29%

दिसम्बर 13, 2018, 09:25

Investing.com – U.S. stocks were mixed after the close on Thursday, as gains in the Utilities, Oil&Gas and Consumer Goods sectors led shares higher while losses in the Basic Materials, Telecoms and Consumer Services sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average rose 0.29%, while the S&P 500 index lost 0.02%, and the NASDAQ Composite index declined 0.39%.

The best performers of the session on the Dow Jones Industrial Average were Procter&Gamble Company (NYSE:PG), which rose 2.62% or 2.46 points to trade at 96.49 at the close. Meanwhile, McDonald’s Corporation (NYSE:MCD) added 1.61% or 2.95 points to end at 186.43 and Merck&Company Inc (NYSE:MRK) was up 1.28% or 1.00 points to 79.01 in late trade.

The worst performers of the session were Nike Inc (NYSE:NKE), which fell 1.87% or 1.39 points to trade at 72.93 at the close. DowDuPont Inc (NYSE:DWDP) declined 1.05% or 0.57 points to end at 53.78 and American Express Company (NYSE:AXP) was down 0.73% or 0.78 points to 106.70.

The top performers on the S&P 500 were General Electric Company (NYSE:GE) which rose 7.30% to 7.20, Aflac Incorporated (NYSE:AFL) which was up 6.64% to settle at 45.75 and Kimberly-Clark Corporation (NYSE:KMB) which gained 3.93% to close at 118.40.

The worst performers were Monster Beverage Corp (NASDAQ:MNST) which was down 6.98% to 53.43 in late trade, Hanesbrands Inc (NYSE:HBI) which lost 6.63% to settle at 13.80 and Under Armour Inc C (NYSE:UA) which was down 6.31% to 17.810 at the close.

The top performers on the NASDAQ Composite were Adial Pharmaceuticals Inc (NASDAQ:ADIL) which rose 104.93% to 4.16, Cancer Genetics Inc (NASDAQ:CGIX) which was up 55.32% to settle at 0.365 and Pernix Therapeutics Holdings Inc (NASDAQ:PTX) which gained 22.86% to close at 0.430.

The worst performers were Applied Genetic (NASDAQ:AGTC) which was down 47.10% to 3.47 in late trade, CounterPath Corp (NASDAQ:CPAH) which lost 22.53% to settle at 1.410 and LogicBio Therapeutics Inc (NASDAQ:LOGC) which was down 21.77% to 9.70 at the close.

Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1975 to 1089 and 98 ended unchanged; on the Nasdaq Stock Exchange, 2006 fell and 653 advanced, while 55 ended unchanged.

Shares in Hanesbrands Inc (NYSE:HBI) fell to 5-year lows; down 6.63% or 0.98 to 13.80. Shares in Procter&Gamble Company (NYSE:PG) rose to all time highs; up 2.62% or 2.46 to 96.49. Shares in Applied Genetic (NASDAQ:AGTC) fell to 52-week lows; falling 47.10% or 3.09 to 3.47. Shares in CounterPath Corp (NASDAQ:CPAH) fell to all time lows; falling 22.53% or 0.410 to 1.410.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 3.77% to 20.65.

Gold Futures for February delivery was down 0.25% or 3.15 to $1246.85 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 3.85% or 1.97 to hit $53.12 a barrel, while the February Brent oil contract rose 2.84% or 1.71 to trade at $61.86 a barrel.

EUR/USD was down 0.05% to 1.1362, while USD/JPY rose 0.27% to 113.59.

The US Dollar Index Futures was up 0.05% at 97.070.

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Canada stocks lower at close of trade; S&P/TSX Composite down 0.25%

दिसम्बर 13, 2018, 09:25

Investing.com – Canada stocks were lower after the close on Thursday, as losses in the Healthcare, Industrials and IT sectors led shares lower.

At the close in Toronto, the S&P/TSX Composite declined 0.25%.

The best performers of the session on the S&P/TSX Composite were Empire Company Ltd (TO:EMPa), which rose 10.68% or 2.75 points to trade at 28.51 at the close. Meanwhile, AltaGas Ltd (TO:ALA) added 9.69% or 1.33 points to end at 15.05 and Baytex Energy Corp (TO:BTE) was up 8.41% or 0.19 points to 2.45 in late trade.

The worst performers of the session were Aphria Inc (TO:APHA), which fell 10.48% or 0.815 points to trade at 6.965 at the close. Birchcliff Energy Ltd . (TO:BIR) declined 6.69% or 0.22 points to end at 3.07 and Aurora Cannabis Inc (TO:ACB) was down 6.50% or 0.53 points to 7.62.

Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 589 to 533 and 116 ended unchanged.

Shares in Empire Company Ltd (TO:EMPa) rose to 3-years highs; rising 10.68% or 2.75 to 28.51.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was up 0.50% to 20.22 a new 1-month high.

Gold Futures for February delivery was down 0.25% or 3.15 to $1246.85 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 3.85% or 1.97 to hit $53.12 a barrel, while the February Brent oil contract rose 2.86% or 1.72 to trade at $61.87 a barrel.

CAD/USD was down 0.04% to 0.7488, while CAD/EUR rose 0.05% to 0.6591.

The US Dollar Index Futures was up 0.05% at 97.070.

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Brazil stocks higher at close of trade; Bovespa up 0.99%

दिसम्बर 13, 2018, 08:35

Investing.com – Brazil stocks were higher after the close on Thursday, as gains in the Financials, Industrials and Real Estate sectors led shares higher.

At the close in Sao Paulo, the Bovespa gained 0.99%.

The best performers of the session on the Bovespa were Gol Linhas Aereas Inteligentes SA Pref (SA:GOLL4), which rose 5.26% or 1.10 points to trade at 22.00 at the close. Meanwhile, JBS SA (SA:JBSS3) added 4.26% or 0.49 points to end at 12.00 and Suzano Papel e Celulose SA (SA:SUZB3) was up 3.53% or 1.28 points to 37.57 in late trade.

The worst performers of the session were Kroton Educacional SA (SA:KROT3), which fell 2.65% or 0.26 points to trade at 9.54 at the close. Via Varejo SA (SA:VVAR3) declined 1.67% or 0.08 points to end at 4.70 and B3 SA Brasil Bolsa Balcao (SA:B3SA3) was down 1.60% or 0.45 points to 27.70.

Rising stocks outnumbered declining ones on the BM&FBovespa Stock Exchange by 234 to 197 and 37 ended unchanged.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was down 4.45% to 32.65 a new 3-months low.

Gold Futures for February delivery was down 0.30% or 3.70 to $1246.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January rose 3.56% or 1.82 to hit $52.97 a barrel, while the March US coffee C contract rose 1.02% or 1.05 to trade at $104.10 .

USD/BRL was up 0.96% to 3.8927, while EUR/BRL rose 0.93% to 4.4240.

The US Dollar Index Futures was up 0.05% at 97.062.

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Colombia stocks lower at close of trade; COLCAP down 0.80%

दिसम्बर 13, 2018, 08:15

Investing.com – Colombia stocks were lower after the close on Thursday, as losses in the Financials, Industrials and Investment sectors led shares lower.

At the close in Colombia, the COLCAP lost 0.80% to hit a new 52-week low.

The best performers of the session on the COLCAP were Etb (CN:ETB), which rose 2.95% or 8.0 points to trade at 279.0 at the close. Meanwhile, Grupo Aval Acciones y Valores SA Pref (CN:GAA_p) added 0.50% or 5.0 points to end at 1015.0 and Grupoaval (CN:GAA) was up 0.49% or 5.0 points to 1025.0 in late trade.

The worst performers of the session were Avianca Holdings Pf (CN:AVT_p), which fell 4.95% or 95.0 points to trade at 1825.0 at the close. Cemex Latam Holdings SA (CN:CLH) declined 3.61% or 150.0 points to end at 4000.0 and Corporacion Financiera Colombiana SA (CN:CFV) was down 1.56% or 280.0 points to 17720.0.

Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 16 to 6 and 4 ended unchanged.

Shares in Avianca Holdings Pf (CN:AVT_p) fell to 52-week lows; falling 4.95% or 95.0 to 1825.0.

US coffee C for March delivery was up 1.02% or 1.05 to $104.10 . Elsewhere in commodities trading, US cocoa for delivery in March rose 4.02% or 87.00 to hit $2249.00 , while the February Gold Futures contract fell 0.31% or 3.90 to trade at $1246.10 a troy ounce.

USD/COP was up 0.29% to 3178.30, while BRL/COP fell 0.46% to 816.54.

The US Dollar Index Futures was up 0.05% at 97.065.

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Top Gainers: GE, Ciena, Aflac Soar as Wall Street Struggles for Gains

दिसम्बर 13, 2018, 07:59

Investing.com – General Electric , Ciena and Aflac soared heading into the close Thursday, sidestepping a weaker backdrop for the broader market.

Networking equipment company Ciena (NYSE:CIEN) rallied more than 7% after the company beat fourth-quarter estimates and guided fiscal 2019 and first-quarter revenue above consensus, sending its share price more than 7% higher.

The company attributed its upbeat results to strong demand from webscale players, tier one telecommunications service providers and Asia.

Ciena also guided first quarter and fiscal 2019 revenue above estimates.

Insurance company Aflac (NYSE:AFL) soared 8% after Japan Post Holdings reportedly was set to spend $2.6 billion for a 7%-8% stake in the company, according to Nikkei Asian Review.

The move is part of Japan Post’s strategy to expand overseas as the health insurance domestic market in Japan continues to decline. The deal is expected to get approved by the end of December and completed by the end of 2019.

General Electric (NYSE:GE) climbed 7% as JPMorgan delivered a more upbeat assessment on the conglomerate's balance sheet and ability to raise capital.

JPMorgan cited improved visibility on the "known unknowns" of General Electric's balance sheet and improved risk-to-reward profile.

General Electric also announced it will launch a new Industrial Internet of Things software company, which would operate as a wholly-owned and independently-run GE business with $1.2 billion in annual software revenue.

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Oil Ends up 3% on Cushing Draw, Mid-2019 Supply Deficit Hopes

दिसम्बर 13, 2018, 05:40

Investing.com - A surprise inventory drawdown at the delivery hub for U.S. crude futures, along with suggestions that global supplies could balance by middle of next year, turned into a 3% rally for oil on Thursday, though some traders said the gains may not last due to the mediocrity of the data.

Futures of New York-traded West Texas Intermediate crude, as well as U.K. Brent, had a lackluster start for the U.S. session despite market intelligence firm Genscape estimating drawdown of nearly 822,000 barrels at the Cushing, Okla. delivery hub for the week to Dec. 11, traders who saw the data said. While the inventory drop was a break from the sharp weekly builds of about 1 million barrels or more seen recently in Cushing, higher pipeline capacity should soon bring more oil into the hub, analysts said.

WTI settled up $1.43 cents, or 2.8%, at $52.58 per barrel.

Brent rose by $1.32, or 2.2%, to $61.47 by 3:00 PM ET (20:00 GMT).

Earlier on Thursday, the International Energy Agency (IEA), which represents the interest of energy consumers in the West, gave oil bulls some hope too by forecasting a supply deficit in the second quarter of next year, versus a month ago when it said that it expected a surplus for all of 2019.

But the IEA's latest forecast also said any balancing of oversupply expected in the first half of the year would be predicated on OPEC and its allies keeping to their promise of cutting a combined 1.2 million barrels per day in supply through June.

The positive Genscape number for Cushing and the somewhat bullish forecast by the IEA lifted WTI and Brent by about 20 cents per barrel, or 0.5%, in midmorning trade. But just before the close, the market suddenly took off, for reasons few traders could fathom.

"It doesn't look like there's much news behind these gains," said John Kilduff, partner at New York energy hedge fund Again Capital. "I'd be wary, to say the least."

Contrary to market expectations, oil prices have recovered little since the enlarged OPEC+ group announced production cut plans last week, defying U.S. President Donald Trump, who had demanded the group keep supply flowing unhindered and possibly at lower prices.

With just about two weeks to the end of 2018, WTI remains down about 13% on the year and some 30% lower from four-year highs of nearly $77 per barrel hit in early October. Brent is down about 8% on the year and nearly 30% lower from four-year highs of nearly $87 per barrel hit two months ago.

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