Snapchat Soars, Reversing Earlier Crash, After Tencent Buys 10% Stake
Just as an avalanche of SNAP sellside downgrades was unleashed by Wall Street analysts (JPM and UBS both downgraded to Sell with $15 and $7 price targets, respectively), the proverbial Hail Mary emerged early on Wednesday morning, when hours after reporting atrocious earnings which sent its stock crashing, in its just released 10-Q, Snapchat reported that Tencent, […]
Sensex Closes On A Weak Note; Ashok Leyland Down 2.3% On Missing Street Estimates
Indian share markets witnessed selling pressure in the afternoon session and finished in red for second consecutive session. At the closing bell, the BSE Sensex closed lower by 152 points and the NSE Nifty finished down by 47 points. The S&P BSE Mid Cap finished down by 0.8% while S&P BSE Small Cap finished down by 0.5%. Losses were largely seen in metal stocks, energy stocks and PSU […]
AUD/USD Bounces, But It Is Forming Lower Highs
The Australian dollar lost its high range in late October and seems to have stabilized at a new range. Support is found at 0.7625 and resistance is at 0.7730. Any drop to the downside was followed by a rise to the upside in recent days. This is the case today as well. After falling to […]
What To Expect From Disney’s Q4 Earnings Report
The third-quarter earnings report season is finally wrapping up, and throughout nearly every corner of the market, investors are celebrating strong results. However, there are still a few bellwether reports on the horizon, including that of the Walt Disney Company (DIS – Free Report). Once regarded as Wall Street’s most reliable buy-and-hold stock, Disney has struggled recently. […]
Bank Stocks, Dollar Slide Hit By Fresh Tax Reform Doubts
U.S. equity futures are little changed as European and Asian shares retreated, led by sliding bank stocks and a drop in the dollar as doubts over republican tax cuts and ongoing bond curve flattening hurt sentiment and prompted fresh questions over the viability of the US expansion. Investor concerns also returned to geopolitics as Trump […]
WTI Crude Oil And Natural Gas Forecast – Wednesday, Nov. 8
WTI Crude Oil The WTI Crude Oil market went back and forth during the day on Tuesday, ultimately settling on a very neutral candle. I believe that this suggests that the market is ready for a pullback, and quite frankly I think that’s healthy. The $55 level underneath should be support, as it was previous […]
Toronto Is Entering A Housing Bubble
Why do I bring up Toronto? That’s not even in the US. Well, in order to understand bubbles in all major cities, you must understand how they get to that point and this will hopefully serve as a warning for investors and those looking to enter housing markets for the first time. Toronto is the […]
EUR/USD: Rebounds Paint An Unclear Picture
Previous: Yesterday, Tuesday, November 7th, trading on the euro/dollar pair closed slightly down (-19 pips). In Europe, the euro dropped to 1.1554 as the US dollar rose across the board. The head and shoulders model looks to be continuing its formation and a sharp reversal looks on the cards. This kind of behavior can be […]
Global Equity Valuation Charts
If it has felt like global equities have done well this year that’s probably because they have. The MSCI All Countries World Index is up 15.7% in local currency terms YTD (18.4% in USD terms) and is now up about 40% off the February 2016 bottom. With rising prices comes rising valuations, but there are some subtleties to […]
AUD/USD Daily Analysis – Wednesday, November 8
AUD/USD is facing 0.7624 support. A breakdown below this level could signal resumption of the downtrend from 0.7897 then further decline towards 0.7500 could be seen. Near term resistance is at 0.7670. A break of this level could bring price back to test 0.7729. Above this level will indicate that lengthier consolidation for the longer […]
