|Day's range||7,186.1597 - 7,256.4307|
|52-week range||5,579.6401 - 7,291.3101|
OPEC and non- OPEC members are meeting in Vienna on Thursday for the start of a 3-day summit where production cuts are on the agenda.
It’s another jam packed week ahead, with trade wars, OPEC, the Bank of England’s monetary policy decision and a number of central bankers slated to talk through the week. Things could get ugly if the U.S responds…
The Dow Jones 30 in the NASDAQ 100 were a bit noisy during the trading session on Friday and have diverged as far as the weekly candles are concerned. This is perhaps because of trade tariffs more than anything else.
The Dow Jones 30 and the NASDAQ 100 both sold off during the trading session on Friday as the United States announced more tariffs against the Chinese, and then of course the Chinese retaliated. Because of this, it makes sense that a little bit of a “risk off” move was had going into the weekend, and I think that’s exactly what we are seeing on this chart.
Amazon.com, Inc. (NASDAQ:AMZN) showcased its cashier-less Amazon Go store in Seattle last year, giving the world a glimpse at the potential future of the retail store. It looks like the showcase posed a challenge to rival tech firm Microsoft Corporation (NASDAQ:MSFT) because new reports suggest that the software giant is also working on a similar project. Microsoft has reportedly poached a computer vision specialist that was involved in the development of Amazon Go.
Comcast Corporation (NASDAQ:CMCSA) is reportedly interested in purchasing a large portion of assets belonging to Twenty-First Century Fox Inc Class A (NASDAQ:FOXA) at a hefty price of $65 billion. The company has announced on Wednesday that it is willing to pay as much as $65 billion in order to acquire most of the businesses owned by Fox, particularly its film and TV assets. The announcement means the company is planning to battle it out with Walt Disney Co (NYSE:DIS).
US stock markets were very noisy during the trading session and a bit of a mixed bag. The markets continue to show a lot of bullish pressure, and I think that we are finally starting to see market participants push the NASDAQ 100 as well, which has been a bit of a laggard.
Employees of electric carmaker Tesla Inc (NASDAQ:TSLA) have been informed that around 9% of the company’s workforce will be laid off. This is the largest layoff in the history of Tesla and it comes as the car maker burns through cash with a view of meeting production goals for the Model 3 sedan. According to the founder and chief executive officer of Tesla, Elon Musk, the staff cuts will not compromise the ability of the automaker with regards to meeting the company’s goals.
The US stock markets were sideways overall, as we continue to see a lot of headline risk out there. I think that the market may be trying to catch his breath so that we can continue the upward movement. Short-term pullbacks should continue to offer plenty of value in a market that is overall going to be bullish.
Apple Inc. (NASDAQ:AAPL) has announced that it will no longer be allowing the use of its devices to mine digital currencies according to new review guidelines on the App Store. Apple’s decision to ban the use of its devices for cryptocurrency mining is partly motivated by its plans to employ strict restrictions for apps that are power-intensive. “Apps, including any third party advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining,” stated Apple.
The US stock markets were a bit quiet during the day on Monday, as we await the results of a summit between the Americans and the North Koreans. Obviously, this could be a major geopolitical event, and it will of course attract a lot of attention.
KKR & Co. L.P. Unit (NYSE:KKR) is reportedly almost finalizing its deal for the acquisition of Envision Healthcare Corp (NYSE:EVHC) according to sources familiar with the matter.
The Dow Jones 30 in the NASDAQ 100 both had positive weeks, as we continue to see buying pressure in the US stock markets. However, they are not equal in their strength, as the Dow Jones 30 certainly seems to be leading the way.
The Dow Jones 30 and NASDAQ 100 both initially fell during the day on Friday but found enough support underneath the turn around and show signs of strength. This is a very bullish sign, and I think that we could continue to go much higher.
US stock markets continue to be bullish and continue to outperform many of the other indices that we follow around the world. The market should continue to go to the upside based upon momentum, but we are getting a bit overextended.
While the “Risk On” rally continues in global stocks, the Chinese markets are lagging behind over fears of trade tensions and high levels of maturing debt.
Alibaba Group Holding Ltd (NYSE:BABA)’s cloud computing arm, Alibaba Cloud, recently unveiled the ET Agricultural Brain, a proprietary artificial intelligence technology.
The Dow Jones 30 in the NASDAQ 100 both rallied significantly during the day on Wednesday to test major resistance barriers. I think that the market will eventually break out, but the occasional short-term pullback may come into play so that we can get the necessary momentum.
The markets have been pretty much stable over the last 24 hours and the Asian markets have also moved higher and managed to close higher during this time. The European markets have taken a cue from them and they are trading in a strong and steady manner at this point of time but the worries over Italy and the situation over there is something that continues to concern and impact the markets, both directly and indirectly. The gold markets have also been stable but on the weaker side.
Facebook, Inc. (NASDAQ:FB) has once again found itself in an awkward situation in which it is being stared down by U.S Intelligence and this time for providing data access to a Chinese firm that was flagged by the government.
Donald Trump’s steel and aluminum tariffs have led to a spike in US steel prices and physical aluminum premiums. The spreads between US and international steel prices are now at historical levels. For instance, according to SteelBenchmarker, US hot rolled coil and cold rolled coil prices are approximately 60% higher than international export prices. US Midwest physical premiums, which fell sharply in 2015 after end users’ complaints of a rigged market led to changes in London Metals Exchange warehousing rules, have also spiked since the Section 232 tariffs.
US stock drifted back and forth during the trading session on Tuesday, as we approached some major levels, and of course continue to see a lot of back-and-forth when it comes to concerns about global trade.