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  • Finance

    Sensex Ends Day In Red; Metal Stocks Lead Losses

    After opening the day in red, share markets in India witnessed negative trading activity throughout the day and ended the day in red. Sectoral indices traded mixed, with stocks in the power sector and stocks in the metal sector, leading the losses. At the closing bell, the BSE Sensex stood lower by 159 points (down 0.5%) and the NSE Nifty closed down by 57 points (down 0.5%). The BSE Mid Cap index ended the day down 0.8%, while the BSE Small Cap index ended the day down by 0.7%. The rupee was trading at Rs 68.69 against the US$ in the afternoon session. Oil prices were trading at US$ 78.67 at the time of writing. Asian stock ma...
    On July 2, 2018 / By
  • Finance

    EURUSD Forex Analysis For Monday, July 2

    EUR/USD Forex Analysis for July 2, 2018 First, we look into the last week’s trade and what happened on June 29, 2018, and it opens at 1.15674 and went high at 1.16898 and gone low 1.15575 and finally close at 1.16805. The calculated pivot point for the day is 1.1642 LEVELS FIRST LEVEL SECOND LEVEL THIRD LEVEL BUY LEVELS 1.1690 1.1720 1.1746 SELL LEVELS 1.1607 1.1551 1.1518 EUR/USD pair takes a bearish trend due to negative results in Markit manufacturing PMI’s. Also, US Dollar holds stronger due to Germany political chaos. Some of the Notable events occurred and impact the pair considerably, they are EUR: Markit Manufacturing PMI ...
    On July 2, 2018 / By
  • Finance

    Adamis Enters Distribution Agreement With Novartis Unit Sandoz

    Adamis Pharmaceuticals (ADMP) announced last night that it has entered into an exclusive distribution and commercialization agreement with Sandoz, a division of Novartis (NVS), to commercialize Symjepi or the emergency treatment of allergic reactions including anaphylaxis. Symjepi is epinephrine and competes against Mylan’s (MYL) EpiPen. Under the terms of the agreement, Sandoz will obtain the United States commercial rights to Symjepi in exchange for an upfront fee and potential performance-based milestones payments. Additionally, Adamis and Sandoz will equally share net profits, as defined in the agreement, generated from sales of Sym...
    On July 2, 2018 / By
  • Finance

    E The Morning Track – No Breaks

    Geopolitical fears remained front and center for the start of the third quarter trading. We are starting the quarter with risk off in equities, but bonds are not bid up enough to counter the pain and the USD is stronger. It’s Monday and the weekend news didn’t bring any relief for China and the trade tariffs looming. The EU warned of a $300bn hit to its auto sector over US car import tariffs. Nor did it bring much surprise, as Mexico elects AMLO as President– a left leaning populist with 53% of the vote. This brought the MXN 1.3% stronger to 19.6406 but it’s back over 20 again tracking USD gains elsewhere. The weekend didn’t of...
    On July 2, 2018 / By
  • Finance

    Major Asset Classes – Performance Review – Monday, July 2

    Real estate investment trusts (REITs) in the US posted the strongest gain in June among the major asset classes. The gain marked a second straight month with securitized real estate topping the performance list. Although most market categories retreated last month, US REITs bucked the trend with a solid advance. The MSCI REIT Index increased 4.4% in June — the fourth consecutive monthly gain. Last month’s rally lifted the index to a new high for 2018 and close to the previous peak from last December. The asset class suffered a sharp correction in the first two months of this year, but since March US REITs have been rebounding. In three of...
    On July 2, 2018 / By
  • Finance

    Morning Call For Monday, July 2

    Overnight Markets And News Sep E-mini S&Ps (ESU18 -0.52%) this morning are down -0.53% and European stocks are down -0.57% as trade risks drag global equity markets lower. Sep COMEX copper (HGU18 -0.39%) is down -0.51% to a 9-1/4 month low, which undercut mining stocks and metals producers on concern trade tensions are beginning to slow global manufacturing activity. The Eurozone Jun Markit manufacturing PMI was revised downward to a 1-1/2 year low of 54.9 and the China Jun manufacturing PMI fell -0.4 to 51.5, weaker than expectations of -0.3 to 51.6. Asian stocks settled lower: Japan -2.21%, Hong Kong closed for holiday, China -2.51%,...
    On July 2, 2018 / By
  • Finance

    Third Quarter Begins With A Thump

    The window dressing ahead of the end of Q2 failed to signal a turn in sentiment. Equity markets have taken back those gains and more. The US dollar is broadly firmer, though it was coming off its best levels near midday in Europe, and the three-basis-point slippage puts the US 10-year yield at 2.83%, its lowest in more than a month.   Investors are wrestling with the implications of escalating trade tensions. The US tariffs on $34 bln of Chinese imports are to go into effect at the end of the week. The US has threatened to put a 10% tariff on $200  bln of Chinese goods if it retaliates, fans fears to an escalating conflict that is seen a...
    On July 2, 2018 / By
  • Finance

    Corporate Profits Are Trending Higher. The Equities Bull Market Isn’t Over

    As we’ve demonstrated here at BullMarkets before, the U.S. economy, corporate profits, and stock market all move in the same direction in the medium-long term. The final reading for Q1 2018 GDP (released June 28, 2018) demonstrates that corporate profits are still rising. And for all the people who think that earnings numbers are “manipulated” via GAAP rules, these are corporate profits according to the IRS. Fact.   But of course, nominal numbers (e.g. nominal corporate profits) are meaningless. Nominal numbers will always go up in the long term due to inflation. That’s why we care more about the inflation-adjusted corporate profits....
    On July 2, 2018 / By
  • Finance

    WTI Crude Oil And Natural Gas Forecast – Monday, July 2

    WTI Crude Oil The WTI Crude Oil market rallied again on Friday, reaching towards the $74.25 level. We have made a fresh, new high, and I don’t see much to keep us from reaching towards the $75 level above. However, we are overbought by just about any measure you can use, so I think a pullback is not only likely, but it’s necessary at this point. If you are not long of this market already, then I would stand on the sidelines and wait for the market to pullback significantly, perhaps forming some type of supportive candle on the daily chart. If you are already long of the WTI Crude Oil market, and then perhaps you could move your stop loss ...
    On July 2, 2018 / By
  • Finance

    The Active Dominant Cycle: July 2 Major Swing Low

    Review: From the June 4th Raj T&C Weekend Email (One month ago): “There is a cluster of 6-7 fixed cycles all due end June/early July that should be a major High or Low” Actual: The fixed cycles due end June/early July: the 80 CD Cycle, the 90 CD Cycle, the 95 CD Cycle, the 32-33 wk cycle, the 5 Month cycle and the 1308 CD Cycle are all due late June/early July should be a major swing Low based on the dominant active cycle shown below. Fixed cycles can expand and contract by a few days to a few weeks and are not exact, while an “active” cycle is a precise historic cycle as it is +/- 1 to 2 ...
    On July 2, 2018 / By