EUR/USD 4 hour The EUR/USD retraces back to the broken resistance of 1.15 within the bullish trend which could turn out to become a support level. However, there is an interest rate decision today for the Euro zone by the European Central Bank (ECB) plus a follow-up press conference. These events will probably cause increased volatility and could heavily impact price action too. 1 hour The EUR/USD could still be completing a potential wave 4 (purple) as long as price stays above 1.15. A break below it will however invalidate this wave structure and could retrace deeper. USD/JPY 4 hour The USD/JPY has broken above the resistance trend line (do...
Podcast: Play in new window | Play in new window (Duration: 13:15 — 7.6MB) DOW + 66 = 21,640 SPX + 13 = 2473 NAS + 40 = 6385 RUT + 14 = 1441 10 Y + .01 = 2.27% OIL + .69 = 47.09 GOLD – 1.00 = 1242.00 BITCOIN + 1.75% = 2334.63 USD ETHEREUM – 2.36% = 209.06 The Dow Industrials, S&P 500, Nasdaq Composite and Russell 2000 all closed at record highs on Wednesday. This is the first time all 4 indexes closed at a record high on the same day since March 1st. ETFs have seen net new inflows of $250 billion thus far this year, and more than half of that inflow has gone to just 20 ETFs, or about 1% of the ETF universe. The most popular ETF ...
Italian hedge fund BxWorld Fund has entered a position in Soligenix (Nasdaq: SNGX), a biotech company with some interesting products for the cure of cancer and a range of products against bioterrorism and radioactive warfare. Luca Fer, BxWorld’s fund manager, says: “We consider the company a target also for the USA government or some defense institution”. We think that the target price is $11.00. Soligenix is an interesting stock at present. Now trading with a market value of just $16.07M, the company has a mix of catalysts and obstacles that spring from the nature of its operations. In light of the many issues surrounding...
Coca-Cola (KO) has been under pressure for a few years. KO is up roughly 33% since 2012. The S&P 500 is up roughly 88% over the same time frame. They have sought to streamline their business and have divested a lot of assets. But the clouds are still dark for Coke. KO has three major problems: Aggressive competitor: Pepsi (PEP) is very aggressive. And very diversified: in addition to drinks they offer snack foods (Frito-Lays), granola bars & cereals. KO does just beverages Soft drink tax: Cities have begun to tax soft drinks, with the inevitable result that sales are falling. By a lot. Two months after enacting the tax, Philadel...
A healthy close for Asia in today’s trading after the uncertainty seen from a mixed US session. The large cap DOW recovery helped but it was the broader S&P and Nasdaq that contributed most for Asia’s impetus. The Nikkei only marginally closed in positive territory but it was the fact that it closed above the psychological 20k mark that everyone is talking about. In China the Shanghai was in positive sentiment again today closing up over 1.4% with help from a stronger Hang Seng (+0.5%) ahead of the expected US/China news conference – which “was” scheduled for later in the trading day. Of course we see later, that this was ca...
Crude oil prices raced higher after official EIA inventory data revealed a far larger outflow than expected. US stockpiles shed 4.73 million barrels compared with the 3.46 million draw expected by the markets and a shock gain foreshadowed in API figures for the same period. A pause to consolidate may now be in the cards. The stock of top-tier event risk has been exhausted for the week, leaving prices without an obvious catalyst. As ever, the markets’ acute focus on global oversupply means that stray comments from officials in key producing nations may stoke kneejerk volatility. Meanwhile, a lull in pertinent news-flow left gold prices ...
American Express Company (NYSE: AXP), the New York City-based global services company that offers charge and credit cards, business credit cards, travel services, gift cards, prepaid cards and merchant services, reported financial results today for its second-quarter 2017, as follows: In reference to the Q2 results Chairman and CEO, Kenneth I. Chenault, said: “We…continue to execute a strategy that is transforming our consumer, commercial and merchant businesses…[and] while…[this has] suppressed short-term results, we believe it will put us in a stronger position for the longer term… Beyond any one quarte...
Today, at 5 PM EST on my Facebook page called: Mish’s Market Minute Daily, I went live with the first of six cartoons that represent the Modern Family. Coincidence or not? The Russell 2000 must like the publicity and his character depiction as IWM made a new all-time high! Now, Gramps was not alone. The S&P 500 and Nasdaq continued their rock goddess status and also made new all-time highs. Reason to celebrate? We think so. After all, on the heels of the Health Care Act’s failure to launch comes the hopes of getting a tax plan through. Yet, should we worry that not all members of the Family participated in the joy? Transportation (IYT...
American Express Company (AXP – Free Report) released its second-quarter 2017 financial results, posting earnings of $1.47 per share and revenues of $8.31 billion. Currently, AXP is a Zacks Rank #3 (Hold) and is down 1.20% to $85 per share in after-hours trading shortly after its earnings report was released. AXP: Beat earnings estimates. The company posted earnings of $1.47 per share, just beating the Zacks Consensus Estimate of $1.46 per share. Beat revenue estimates. The company saw revenue figures of $8.31 billion, topping our consensus estimate of $8.19 billion. The credit card giant posted a quarterly profit of $1.31 billion,...
When it comes to investments, T. Rowe Price Group (Nasdaq: TROW) is thought of as a model of stability. The 80-year-old company has $861.6 billion under management. It manages dozens of stock and bond funds for individual and institutional investors. T. Rowe Price currently pays a $0.57 per share quarterly dividend, or $2.28 on an annual basis. It has an excellent track record of raising dividends. Not including a special $2 per share dividend in 2015, the company has raised its annual dividend every year since 1987. That includes the years during the financial crisis – impressive for a financial institution. But T. Rowe Price hit a major...