DXY Index Stuck In Range; UK Elections Bode Well For Brexit, GBP
Video length: 00:10:56 After a brief rally at the start of April, the US Dollar Index (DXY) finds itself swinging back lower within its consolidation, a range that has carved itself out over the past four-plus months. A lack of significant drivers on the US Dollar side of things, or rather, disappointment among US fundamental drivers, […]
Morgan Stanley Beats Earnings Estimates, BlackRock, Inc. Misses On Revenue
Morgan Stanley (MS) and BlackRock (BLK) released their latest earnings reports before opening bell this morning. Morgan Stanley posted earnings of $1 per share on $9.7 billion in revenue, compared to the consensus estimates of 89 cents per share and $9.3 billion. In last year’s first quarter, the firm reported $7.8 billion in revenue and […]
GBP/USD Bullish Pennant Targeting Higher Levels
The GBP/USD spiked heavily after UK PM Theresa May called for snap UK elections for June 8. UK PM May stated that these elections might further instill the stability in UK and would provide stability for a longer period. Traders favored UK PM’s reasoning and the GBP flew off above weekly resistance levels. The pair […]
Morning Call For Wednesday, April 19
OVERNIGHT MARKETS AND NEWS Jun E-mini S&Ps (ESM17 +0.27%) this morning are up +0.27% and European stocks are up +0.37%. A 4% rally in Morgan Stanley in pre-market trading is giving banking stocks a boost after it reported Q1 revenue of $9.75 billion, higher than expectations of $9.29 billion. Energy producing stocks are higher as well […]
Oil Closes Lower On The Back Of Increased Shale Output
On Tuesday, oil closed lower after it was reported that shale output in the U.S. had increased substantially. The OPEC deal continues to gain traction for the oil market. Forecast shows that there may be another surprise fall in the next stockpile report. WTI crude oil closed lower by 0.24 cents to $52.14. Brent […]
Sensex Finishes Flat; Power Stocks Rally
Indian share markets continued to trade range bound in the afternoon session as investors turned cautious ahead of a slew of corporate results. The sentiments also remained dull due to mixed international markets. At the closing bell, the BSE Sensex stood higher by 17 points, while the NSE Nifty finished down 2 points. Meanwhile, the S&P BSE Mid Cap and the S&P BSE […]
Morgan Stanley Jumps After Beating Estimates On 96% Surge In Fixed Income Revenue
Following yesterday’s surprising Goldman miss, traders were closely watching the results of its closest comp, Morgan Stanley this morning to determine if the Goldman FICC revenue disappointment was systemic or a one-off event. They were pleasantly surprised when MS beat on both the top and bottom line, reporting revenue of $9.75 billion and EPS of […]
What Is Going On With Silver?
As I discussed in my previous article, since the beginning of 2017 two large gold ETFs, GLD and IAU, have been generally accumulating gold. However, the largest silver ETF (SLV), has been doing the opposite: Source: Simple Digressions The chart shows that every single month SLV reported an outflow of silver from its vaults. As […]
US Dollar On The Back Foot As Elections Grab The Attention
The talk of a strong dollar by the US Treasury Secretary drowned in the political rush in Europe. GBP/USD surged on the election announcement as markets cross their fingers for a soft Brexit. And in France, it’s open season regarding the elections. Commodity currencies are doing alright as China grows. Markets are clearly energized after […]
Coca-Cola Upgraded To Outperform From Neutral At Credit Suisse
Credit Suisse analyst Laurent Grandet upgraded Coca-Cola to Outperform and raised his price target for the shares to $49 from $44. The stock closed yesterday up 41c to $43.48. With incoming CEO James Quincey taking over on May 1, and the refranchising nearly complete, Coca-Cola “has all the pieces in place to be successful again,” […]
