CFD Markets News and Forecasts — 26-01-2018

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26.01.2018
21:08
The main US stock indexes finished trading on the positive territory

Major US stock indices rose strongly, reaching new record levels, supported by high incomes from Intel (INTC) and the pharmacist AbbVie (ABBV), as well as the weakness of the US dollar.

The focus was also on the United States. The Commerce Department reported that the US economy continued to grow in the fourth quarter, losing a little momentum from the summer, but gained enough strength to extend one of its best periods in recent years. Gross domestic product - the cost of all goods and services produced in the US - adjusted for inflation, from October to December increased by 2.6% on an annualized basis. Economists had expected growth of 2.9%. In the second and third quarters the output slightly exceeded 3%. The last growth, caused by a significant increase in the costs of US consumers and enterprises, has limited the best year of the economy since 2014. In the fourth quarter, the volume of output increased by 2.5% compared to the previous year. It grew by 1.8% in 2016 and by 2% in 2015. Last year was the fourth best calendar year of growth since expansion began in mid-2009.

Most components of the DOW index recorded a rise (24 out of 30). The leader of growth was shares of Intel Corporation (INTC, + 10.23%). Outsider were shares of Caterpillar Inc. (CAT, -1.43%).

All sectors of S & P finished trading in positive territory. The healthcare sector grew most (+ 1.7%).

At closing:

Dow + 0.85% 26.616.71 +223.92

Nasdaq + 1.28% 7.505.77 +94.61

S & P + 1.18% 2.872.87 +33.62

20:01
DJIA +0.48% 26,519.54 +126.75 Nasdaq +0.87% 7,475.58 +64.42 S&P +0.78% 2,861.53 +22.28
18:01
U.S.: Baker Hughes Oil Rig Count, January 759
17:00
European stocks closed: FTSE 100 +49.70 7665.54 +0.65% DAX +41.81 13340.17 +0.31% CAC 40 +47.94 5529.15 +0.87%
15:23
UK Brexit minister Davis says is in no one's interest to see businesses delay investment or rush through contingency plans

  • Extending article 50 would not solve legal problems of ratifying withdrawal

  • UK and EU agree on need to have strict time limit for implementation period

  • UK and EU must follow same rules for implementation period to work

  • We agree on need for continued access to each others markets on current terms

14:45
BoE’s Carney: 80% of recovery in G7 is led by investment & trade @livesquawk
14:33
U.S. Stocks open: Dow +0.19% Nasdaq +0.37%, S&P +0.27%
14:30
Before the bell: S&P futures +0.29%, NASDAQ futures +0.47%

U.S. stock-index futures rose on Friday as investors assessed a raft of corporate earnings and economic data.


Global Stocks:

Nikkei 23,631.88 -37.61 -0.16%

Hang Seng 33,154.12 +499.67 +1.53%

Shanghai 3,559.09 +10.78 +0.30%

S&P/ASX -

FTSE 7,648.16 +32.32 +0.42%

CAC 5,537.59 +56.38 +1.03%

DAX 13,325.26 +26.90 +0.20%

Crude $65.57 (+0.09%)

Gold $1,351.30 (-0.86%)

13:48
Wall Street. Stocks before the bell

(company / ticker / price / change ($/%) / volume)

3M Co

MMM

255.5

7.81(3.15%)

33227

ALCOA INC.

AA

53.47

0.17(0.32%)

772

Amazon.com Inc., NASDAQ

AMZN

1,370.00

12.49(0.92%)

49029

American Express Co

AXP

99.5

0.20(0.20%)

681

Apple Inc.

AAPL

174.77

0.55(0.32%)

127730

AT&T Inc

T

37.1

0.08(0.22%)

12815

Barrick Gold Corporation, NYSE

ABX

15.2

0.15(1.00%)

35172

Boeing Co

BA

336.35

1.66(0.50%)

10210

Caterpillar Inc

CAT

174.65

6.31(3.75%)

476858

Cisco Systems Inc

CSCO

42.36

0.19(0.45%)

4510

Citigroup Inc., NYSE

C

79.98

0.53(0.67%)

10054

Deere & Company, NYSE

DE

171.9

2.30(1.36%)

6185

Exxon Mobil Corp

XOM

88.61

0.08(0.09%)

1495

Facebook, Inc.

FB

188

1.45(0.78%)

82917

FedEx Corporation, NYSE

FDX

270.99

0.58(0.21%)

300

Ford Motor Co.

F

11.92

-0.13(-1.08%)

197291

Freeport-McMoRan Copper & Gold Inc., NYSE

FCX

20.55

0.95(4.85%)

273237

General Electric Co

GE

16.58

0.14(0.85%)

288290

General Motors Company, NYSE

GM

44.13

-0.03(-0.07%)

3914

Goldman Sachs

GS

266.9

1.22(0.46%)

4486

Google Inc.

GOOG

1,174.88

10.64(0.91%)

9232

Hewlett-Packard Co.

HPQ

23.7

0.04(0.17%)

2673

Home Depot Inc

HD

206.85

0.63(0.31%)

1234

HONEYWELL INTERNATIONAL INC.

HON

161.87

1.90(1.19%)

939

Intel Corp

INTC

45.88

0.37(0.81%)

56288

International Business Machines Co...

IBM

166

0.63(0.38%)

3458

Johnson & Johnson

JNJ

142.5

0.43(0.30%)

6874

JPMorgan Chase and Co

JPM

116.35

0.68(0.59%)

13552

McDonald's Corp

MCD

176.6

0.48(0.27%)

750

Merck & Co Inc

MRK

61.49

0.31(0.51%)

854

Microsoft Corp

MSFT

92.58

0.76(0.83%)

36849

Nike

NKE

68.03

0.03(0.04%)

929

Pfizer Inc

PFE

37.08

0.15(0.41%)

4145

Procter & Gamble Co

PG

88.66

0.35(0.40%)

10374

Starbucks Corporation, NASDAQ

SBUX

61.07

0.24(0.39%)

8008

Tesla Motors, Inc., NASDAQ

TSLA

348.11

2.22(0.64%)

20781

The Coca-Cola Co

KO

47.85

0.02(0.04%)

649

Twitter, Inc., NYSE

TWTR

22.62

0.25(1.12%)

61746

United Technologies Corp

UTX

135.43

-0.25(-0.18%)

1608

UnitedHealth Group Inc

UNH

245.95

1.10(0.45%)

659

Verizon Communications Inc

VZ

54.39

0.17(0.31%)

334

Visa

V

124.8

0.25(0.20%)

4129

Wal-Mart Stores Inc

WMT

106

0.21(0.20%)

2449

Yandex N.V., NASDAQ

YNDX

38.39

0.52(1.37%)

2450

13:45
Target price changes before the market open

Intel (INTC) target raised to $52 from $47 at Mizuho

Intel (INTC) target raised to $55 from $53 at FB Riley

United Tech (UTX) target raised to $146 from $124 at Stifel

13:44
Downgrades before the market open

Starbucks (SBUX) removed from Conviction Buy List at Goldman

13:43
Upgrades before the market open

Travelers (TRV) upgraded to Neutral at Atlantic Equities

Intel (INTC) upgraded to Outperform from Neutral at Credit Suisse

13:40
Canadian Consumer Price Index increased 1.9% on a year-over-year basis

The Consumer Price Index (CPI) increased 1.9% on a year-over-year basis in December, following a 2.1% gain in November. The all-items excluding gasoline index rose 1.5% year over year in December, matching the increase in November.

Prices were up in seven of the eight major CPI components in the 12 months to December, with the transportation and shelter indexes contributing the most to the increase. The household operations, furnishings and equipment index declined 0.3% on a year-over-year basis.

Consumer prices for transportation rose 4.9% on a year-over-year basis in December, following a 5.9% increase in November. The movement in transportation prices was led by gasoline, which rose 12.2% year over year in December, after increasing 19.6% the previous month. The purchase of passenger vehicles index increased 3.7% in the 12-month period ending in December.

13:38
U.S new orders for manufactured durable goods in December increased $7.0 billion or 2.9 percent

New orders for manufactured durable goods in December increased $7.0 billion or 2.9 percent to $249.4 billion, the U.S. Census Bureau announced today. This increase, up four of the last five months, followed a 1.7 percent November increase. Excluding transportation, new orders increased 0.6 percent. Excluding defense, new orders increased 2.2 percent. Transportation equipment, also up four of the last five months, led the increase, $6.0 billion or 7.4 percent to $87.2 billion.

Shipments of manufactured durable goods in December, up seven of the last eight months, increased $1.5 billion or 0.6 percent to $246.8 billion. This followed a 1.3 percent November increase. Fabricated metal products, also up seven of the last eight months, led the increase, $0.5 billion or 1.5 percent to $33.5 billion.

13:36
U.S GDP rose 2.6% in Q4 vs 3.0% expected

Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the fourth quarter of 2017, according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent.

The increase in real GDP in the fourth quarter reflected positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, exports, residential fixed investment, state and local government spending, and federal government spending that were partly offset by a negative contribution from private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased

The price index for gross domestic purchases increased 2.5 percent in the fourth quarter, compared with an increase of 1.7 percent in the third quarter The PCE price index increased 2.8 percent, compared with an increase of 1.5 percent. Excluding food and energy prices, the PCE price index increased 1.9 percent, compared with an increase of 1.3 percent

13:31
U.S.: PCE price index, q/q, Quarter IV 2.8% (forecast 1.8%)
13:31
U.S.: PCE price index ex food, energy, q/q, Quarter IV 1.9% (forecast 1.6%)
13:30
U.S.: GDP, q/q, Quarter IV 2.6% (forecast 3%)
13:30
Canada: Consumer price index, y/y, December 1.9% (forecast 1.9%)
13:30
Canada: Bank of Canada Consumer Price Index Core, y/y, December 1.2% (forecast 1.5%)
13:30
Canada: Consumer Price Index m / m, December -0.4% (forecast -0.3%)
13:30
U.S.: Durable Goods Orders , December 2.9% (forecast 0.8%)
13:30
U.S.: Durable Goods Orders ex Transportation , December 0.6% (forecast 0.5%)
13:30
U.S.: Durable goods orders ex defense, December 2.2% (forecast 0.3%)
13:30
U.S.: Goods Trade Balance, $ bln., December -71.58 (forecast -68.6)
13:19
Davos - U.S. president Trump says U.S. will no longer turn blind eye to unfair trade practices
12:35
Company News: Honeywell (HON) quarterly earnings beat analysts’ forecast

Honeywell (HON) reported Q4 FY 2017 earnings of $1.85 per share (versus $1.74 in Q4 FY 2016), beating analysts' consensus estimate of $1.84.

The company's quarterly revenues amounted to $10.843 bln (+8.6% y/y), generally in-line with analysts' consensus estimate of $10.796 bln.

The company also issued updated guidance for FY 2018, projecting EPS of $7.75-8.00 (compared to its prior guidance of $7.55-7.80 and analysts' consensus estimate of $7.84) and revenues of $41.8-42.5 bln (versus analysts' consensus estimate of $42.23 bln).

HON fell to $160.00 (-1.14%) in pre-market trading.

12:23
Company News: Starbucks (SBUX) quarterly earnings beat analysts’ estimate

Starbucks (SBUX) reported Q4 FY 2017 earnings of $0.58 per share (versus $0.52 in Q4 FY 2016), beating analysts' consensus estimate of $0.57.

The company's quarterly revenues amounted to $6.073 bln (+5.9% y/y), missing analysts' consensus estimate of $6.188 bln.

SBUX fell to $57.36 (-5.27%) in pre-market trading.

12:16
Company News: Intel (INTC) quarterly results beat analysts’ expectations

Intel (INTC) reported Q4 FY 2017 earnings of $1.08 per share (versus $0.79 in Q4 FY 2016), beating analysts' consensus estimate of $0.87.

The company's quarterly revenues amounted to $17.053 bln (+4.1% y/y), beating analysts' consensus estimate of $16.343 bln.

The company issued in-line guidance for Q1 FY 2018, projecting EPS of $0.65-0.75 (versus analysts' consensus estimate of $0.72) at revenues of $14.5-15.5 bln (versus analysts' consensus estimate of $15.03 bln).

Intel also raised quarterly dividend 10% to $0.30.

INTC rose to $47.63 (+5.14%) in pre-market trading.

11:34
Trump is open to re-joining Paris climate change agreement, if terms are different and better for United States - senior administration officials
10:33
Davos - ECB's Coeure says last thing world needs today is currency war

  • Says reent statements about currencies have not been helpful

  • We will have to reassess if currency levels continue to shift

  • Whatever happens to the dollar remains very important

09:34
UK gross domestic product rose more than expected in Q4

UK gross domestic product (GDP) was estimated to have increased by 0.5% in Quarter 4 (Oct to Dec) 2017, compared with 0.4% in Quarter 3 (July to Sept) 2017.

The dominant services sector, driven by business services and finance, increased by 0.6% compared with the previous quarter, although the longer-term trend continues to show a weakening in services growth.

Production industries grew by 0.6%, boosted by the second consecutive quarter of strong growth in manufacturing.

Growth in manufacturing was partially offset in total production by a significant fall in oil and gas extraction, caused by the well-publicised repair work made to the Forties pipeline.

09:30
United Kingdom: GDP, y/y, Quarter IV 1.5% (forecast 1.4%)
09:29
United Kingdom: GDP, q/q, Quarter IV 0.4% (forecast 0.4%)
09:11
ECB survey sees 2018 inflation at 1.5 pct vs 1.4 pct seen 3 months ago

  • 2018 gdp growth forecast raised to 2.3 pct vs 1.9 pct

  • 2019 gdp growth forecast raised to 1.9 pct from 1.7 pct

  • 2019 inflation at 1.7 pct vs 1.6 pct 3 months ago

  • 2022 inflation forecast steady at 1.9 pct; initial 2020 estimate at 1.8 pct

09:10
Euro area broad monetary aggregate M3 decreased to 4.6% in December

  • The annual growth rate of the broad monetary aggregate M3 decreased to 4.6% in December 2017, from 4.9% in November.

  • The annual growth rate of the narrower aggregate M1, which includes currency in circulation and overnight deposits, decreased to 8.6% in December, from 9.1% in November.

  • The annual growth rate of adjusted loans to households stood at 2.8% in December, unchanged from the previous month.

  • The annual growth rate of adjusted loans to non-financial corporations decreased to 2.9% in December, from 3.1% in November.

09:00
Eurozone: M3 money supply, adjusted y/y, December 4.6% (forecast 4.9%)
09:00
Eurozone: Private Loans, Y/Y, December 2.8% (forecast 2.9%)
08:35
Major stock exchanges in Europe trading mixed: FTSE 7628.61 +12.77 + 0.17%, DAX 13279.38 -18.98 -0.14%, CAC 5501.32 +20.11 + 0.37%
08:21
Davos - Le Maire says it would be wrong for European countries to respond to Trump tax cuts with cuts of their own
  • Tells Reuters that Paris could overtake London as Europe's top financial centre within years


07:45
France: Consumer confidence , January 104 (forecast 106)
07:35
Options levels on friday, January 26, 2017

EUR/USD

Resistance levels (open interest**, contracts)

$1.2559 (2818)

$1.2529 (1094)

$1.2504 (2284)

Price at time of writing this review: $1.2453

Support levels (open interest**, contracts):

$1.2369 (385)

$1.2349 (554)

$1.2324 (569)


Comments:

- Overall open interest on the CALL options and PUT options with the expiration date February, 9 is 130495 contracts (according to data from January, 25) with the maximum number of contracts with strike price $1,1850 (7037);


GBP/USD

Resistance levels (open interest**, contracts)

$1.4359 (243)

$1.4325 (242)

$1.4293 (1137)

Price at time of writing this review: $1.4245

Support levels (open interest**, contracts):

$1.4105 (114)

$1.4071 (149)

$1.4034 (333)


Comments:

- Overall open interest on the CALL options with the expiration date February, 9 is 43676 contracts, with the maximum number of contracts with strike price $1,3600 (3468);

- Overall open interest on the PUT options with the expiration date February, 9 is 38543 contracts, with the maximum number of contracts with strike price $1,3400 (3043);

- The ratio of PUT/CALL was 0.88 versus 0.84 from the previous trading day according to data from January, 25

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.

07:28
Eurostoxx 50 futures up 0.33 pct, CAC 40 futures up 0.37 pct, DAX futures up 0.31 pct, FTSE futures up 0.27 pct
07:25
Bank of England's Carney says Brexit is having a bit of an impact on UK growth in the short term - BBC radio

  • Says UK is a bit of an outlier, we do see a bit of a pick-up in growth

  • World economy is accelerating, UK has not seen this yet

  • There is a prospect that UK will be recoupled with global growth later this year

  • UK economic output likely to be tens of billions of pounds lower by the end of this year than if it hadn't voted for brexit

07:21
Trump says dollar is going to get stronger and stronger, ultimately 'I want to see a strong dollar' - CNBC
06:16
Global Stocks

European stock markets erased earlier gains and turned firmly lower on Thursday, yanked lower by a euro rally after the European Central Bank said eurozone growth was surprisingly strong and offered only limited pushback against the Trump administration's embrace of dollar weakness.

The S&P 500 and the Dow Jones Industrial Average logged fresh records on the back of robust earnings but both indexes finished off intraday highs in volatile trading as the buck rebounded following President Donald Trump's dollar-supportive comments.

Asian equities traded mixed Friday, while the dollar steadied after President Donald Trump waded into the unusual public discussion over exchange rates. Trump said that he favored a strong greenback, just a day after his Treasury secretary endorsed a weaker dollar as good for trade, sending the currency down.

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