The FTSE currently indicates a stronger open, as rumours that todays US GDP numbers might be stronger then expected has traders ready to press the buy button. Analysts are expecting for a reading of -4.7% however some traders are now only pricing in a -4% loss. Just a warning, that should the number come out as expected, look for the markets around the world to take a dive. Continue Reading »
After a disastrous start to the week, financial markets rallied well on Friday to close the week unchanged or slightly up. The CAC, DAX and FTSE closed the week up 0.4%, 0.73% and 1.65% respectively. The S&P 500 and Down closed the week down 0.23% and 0.65%, with the strongest performance coming from the Nasdaq 100 which rose 3.24%, its 7th winning week on the trot. The Nasdaq was buoyed by strong performances from Ebay, and Microsoft. Amazon also continued its incredible run in the face of the bear market, since the November lows it has risen 141.11%. Continue Reading »
The FTSE currently indicates a very weak open, as traders are organizing their portfolio ahead of tomorrows UK GDP report. Analysts are expecting a contraction of almost 2% for the first quarter. However there has been talk that the number could come much worse then that. The FTSE is likely to spend the day in the red.
Crude oil is currently trading around the 48 dollars per barrel mark after the risk of widening bank losses dragged U.S. equities and other commodities lower. Oil’s two-day climb stalled after lenders including Wells Fargo & Co. said credit markets haven’t recovered yet. Adding to the weak crude price is the report from U.S. regarding the oil inventory which rose for a seventh week to its highest level since September 1990.
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The FTSE currently indicates a stronger open, as traders are hoping that the UK employment numbers will hint at an improving economy. Also being released this morning is the minutes from the last meeting of the BOE. With all this data, we can expect a very wild morning for the FTSE.
Crude oil is trading just under the 50 dollars per barrel level following gains in U.S. equities, after Treasury Secretary announced that “vast majority” of the nation’s banks passed the capitalization stress test. Crude futures rose as financial shares led U.S. equities higher. Energy prices also increased as the euro climbed against the dollar, bolstering the appeal of commodities as an alternative investment. Oil prices are likely to be quiet today, until the release of the inventory numbers later in the day.
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Another week goes by, and world markets put more distance between current levels and the lows of March. The broad S&P 500 managed to register its sixth positive week on the trot, something that would have seemed impossible just a month ago. Leading the charge has been the resurgent financial sector with major US banks beating analysts’ estimates with their latest earnings announcements. Wells Fargo, Goldman’s, JP Morgan and Citi Group all surprised to the upside, though many have questioned the sustainability of these results, with government bailouts and accounting changes playing a significant role in some of the outperformance. For example, some questioned the ‘orphaned’ month in Goldman’s earnings, as they switched their accounting period from December to January. Continue Reading »