Author Archive: Jeremy Parkinson
Morning Call For Thursday, Sept. 27
Overnight Markets And News Dec E-mini S&Ps (ESZ18 +0.09%) this morning are up +0.10% on strength in technology and energy stocks. Energy stocks rose as Nov WTI crude oil (CLX18 +0.94%) climbed +1.09% on supply concerns after U.S. Energy Secretary Perry said he government isn’t planning to tap emergency oil supplies when American sanctions on Iranian crude […]
Fed Hikes, Stocks Fall, Just Correction?
The U.S. stock market indexes lost 0.2-0.4% on Wednesday, as investors reacted to the FOMC’s Interest Rate hike announcement. The S&P 500 index has reached the new record high of 2,940.91 on Friday. It currently trades 1.1% below that high. The Dow Jones Industrial Average lost 0.4% and the technology Nasdaq Composite lost 0.2% yesterday. The nearest important […]
Oil Drops After Saudis Say Ready To Pump Additional 550K Barrels
One week after President Trump tweeted his latest demand for OPEC to cut oil prices (presumably by boosting production), Saudi Arabia is reportedly considering doing just that. We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil […]
Italian Assets Crushed As Populists Upend Budget Talks At Last Minute
Predictably, the fraught Italian budget negotiations went off the rails at the last minute on Thursday, casting further doubt on the country’s fiscal trajectory and underscoring deep fissures between Finance Minister Giovanni Tria and the country’s firebrand deputy Prime Ministers. Matteo Salvini was characteristically defiant ahead of today’s deadline. “We’ll do a courageous budget, the deficit […]
Greenback Firms
Overview: The US dollar is firmer against all the major currencies and most emerging market currencies, extending the recovery seen after the Federal Reserve’s rate hike. Despite the poor finish for US equities yesterday and declines in Japanese and Chinese shares today, the MSCI Asia Pacific Index eked out a small gain. European bourses were on the […]
GBP/USD Challenges Support Of Bear Flag Chart Pattern
GBP/USD 4 hour Source: Admiral Markets MT5 with MT5 GBP/USD motive wave – Accessed: 27 September 2018 at 6:00 AM GMT The GBPUSD currency pair is building a potential bear flag chart pattern, which could be part of a wave 4 (blue) pattern as long as the price does not break above the bottom of wave 1, which is indicated by the […]
More Signs $116 On TLT Safe For Now
Wednesday, the Fed hiked by 25 basis points and the FOMC dot plot continued to forecast another hike this year and three more next. The 10-year T-rate lost four basis points in that session. It increasingly looks like $116 on TLT is safe for now. Following up on Monday’s post (more here), TLT (iShares […]
Sensex Ends Over 200 Points Lower; Realty Stocks Witness Selling Pressure
Share markets in India continued their sell-off seen during the day and ended the trading session deep in the red. All sectoral indices traded on a negative note, with stocks in the realty sector and capital goods sector witnessing most of the selling pressure. At the closing bell, the BSE Sensex stood lower by 218 points (down 0.6%) and the NSE Nifty closed down […]
Bitcoin Forks BCH And BTG Surge As Bitmain Files For IPO
Bitcoin Cash (BCH) led the top 10 major cryptos on Wednesday with a 24% gain by the end of New York session. The surge came as Bitmain, the world’s largest cryptocurrency mining company, filed for an IPO on the Hong Kong Stock Exchange (HKEX). Bitmain is rumored to hold a massive amount of BCH. That’s […]
