Heads-up News 

Frankfurt Trading Session Heads Up Tuesday, February 13, 2018

Frankfurt opening news digest

What is a ‘reciprocal tax’ and why is Trump talking about it

President Donald Trump said Monday he would soon unveil a plan to impose a “reciprocal tax” on imports, and argued that trading relationships with major nations have become unfair.

 

China Wants To Turn The Indian Ocean Into The China Ocean

After Sri Lanka, China is turning Maldives into another trading outpost.

 

Nikkei 225 Technical Analysis: 2016 Rising Trend Line Still Holds

The Nikkei 225 put in its largest weekly decline in almost 2 years, conveniently pausing for a break on a long-term rising trend line from

 

Lackluster U.K. Consumer Price Index (CPI) to Fuel GBP/USD Losses

Updates to the U.K. Consumer Price Index (CPI) may spark a mixed reaction in GBP/USD as the headline reading for inflation is expected to downtick

 

Crude Oil Price Rise Fades on US Output Bets, API and IEA on Tap

Crude oil prices saw an intraday bounce undone by forecasts for faster US output growth. A monthly report from the IEA and API inventory data

 

Asia AM Digest: Will Wall Street Calm Continue into Asia?

The sentiment-linked Australian Dollar was a benefactor of another positive day on Wall Street and a rebound in copper. President Donald Trump unveiled his budget

 

EUR/GBP Technical Analysis: Chart Setup Favors Euro Gains

The Euro has struggled to make lasting headway against the British Pound but overall technical positing continues to point in favor of the upside

 

Indian Markets Closed For Mahashivratri

Indian markets remain closed on Tuesday on account of Mahashivratri. Positive cues from global markets helped benchmark indexes recover from their biggest weekly losses since August on Monday.

 

South Korea Money Supply Growth Eases Slightly

South Korea’s money supply growth eased marginally at the end of the year, preliminary figures from Bank of Korea showed Tuesday. M2, a broad measure of money supply climbed 4.

 

Asian Markets In Positive Territory

Asian stock markets are in positive territory on Tuesday after U.S. stocks closed higher overnight for a second straight session. Markets are showing signs of stabilizing following last week’s brutal selloff that was triggered by worries over rising interest rates.

 

Japanese Market Advances

The Japanese stock market, which resumed trading on Tuesday following a long weekend, is advancing after U.S. stocks closed higher overnight for a second straight session.

 




Additional Support Predicted For Thai Stock Market

The Thai stock market has finished higher in two of three trading days since the end of the four-day slide in which it had given away almost 50 points or 2.9 percent.

 

Indonesia Shares Called Higher On Tuesday

The Indonesia stock market moved higher again on Monday, one session after it had ended the two-day winning streak in which it had collected more than 65 points or 1 percent.

 

Japan Producer Prices Gain 0.3% On Month In January

Producer prices in Japan picked up 0.3 percent on month in January, the Bank of Japan said on Tuesday. That was in line with expectations and up from the downwardly revised 0.

 

Australian Market Rises

The Australian stock market is rising on Tuesday after U.S. stocks gained overnight for a second straight session and as investors digested upbeat local corporate earnings results.

 

Australia Business Confidence Index Rises To +12 – NAB

Business confidence in Australia ticked higher in January, the latest survey from the National Australia Bank revealed on Tuesday with an index score of +12. That’s up from the downwardly revised +10 in December.

 

Hong Kong Bourse Poised To Snap Losing Streak

The Hong Kong stock market has finished lower in back-to-back sessions, sliding almost 1,000 points or 3.1 percent along the way. The Hang Seng Index now rests just shy of the 29,450-point plateau although it may find traction on Tuesday.

 

China Shares Draw Firm Lead For Tuesday

The China stock market on Monday wrote a finish to the four-day losing streak in which it had plummeted more than 360 points or 10.2 percent. The Shanghai Composite Index now rests just beneath the 3,155-point plateau and it may extend its gains on Tuesday.

 

Singapore Stock Market May Extend Monday’s Gains

The Singapore stock market has climbed higher in two of three trading days since the end of the four-day losing streak in which it had surrendered more than 150 points or 4.

 

Malaysia Shares Called Higher Again On Tuesday

The Malaysia stock market bounced higher again on Monday, one session after it had ended the two-day winning streak in which it had advanced more than 25 points or 1.

 

South Korea Bourse May Reclaim 2,400-Point Level

The South Korea stock market has finished higher in two of three trading days since the end of the four-day losing streak in which it had tumbled more than 170 points or 7 percent.

 

Japan Producer Prices Data Due On Tuesday

Japan will on Tuesday release January numbers for producer prices, highlighting a light day for Asia-Pacific economic activity. Producer prices are expected to rise 0.

 

Stocks Show Significant Move To The Upside – U.S. Commentary

Stocks moved mostly higher over the course of the trading session on Monday, adding to the gains posted in the previous session. With the upward move, the major averages further offset the steep losses seen early last week.

 




Stocks Remain Mostly Positive In Mid-Day Trading – U.S. Commentary

After an early move to the upside, stocks remain mostly positive in mid-day trading on Monday. The major averages are adding to the notable gains posted in the previous session.

 

Stocks Pull Back Off Best Levels But Remain Mostly Positive – U.S. Commentary

Stocks moved notably higher early in the trading session on Monday but have given back some ground over the course of the morning. The major averages have pulled back off their best levels but remain in positive territory.

 

Abeona Therapeutics (ABEO) Has Fallen To A 5-Month Low

Abeona Therapeutics (ABEO) announced Monday morning that it has been granted orphan drug designation by the FDA for its ABO-202 program, for the treatment of infantile Batten disease.

 

Rapid7 Inc. (RPD) Is Falling After Q4 Loss

Rapid7 Inc. (RPD) reported a fourth quarter non-GAAP loss of $0.17 per share Monday morning, compared to the loss of $0.13 per share a year ago. The consensus estimate was for a loss of $0.

 

Xerium Technologies (XRM) Has Climbed To Nearly A 4-Month High

Xerium Technologies (XRM) has been gaining ground since the open Monday and is now up 0.26 at $5.07. Xerium Technologies has broken out of a 1-month trading range and has set nearly a 4-month high.

 

Jamba Inc. (JMBA) Is Climbing On Q4 Sales

Jamba Inc. (JMBA) announced Monday morning that its fourth quarter system-wide comparable store sales increased 5.3%. The company also announced that it expects to report full year 2018 revenues of $68 million to $70 million.

 

Stamps.com Inc. (STMP) Continues To Pullback

Stamps.com Inc. (STMP) has been declining since the open of trade Monday and is now down 11.92 at $172.72. Stamps.com is extending the losses from the previous 2 sessions and has dropped to nearly a 1-month low.

 

Sapiens International Corp. (SPNS) Has Tumbled To A New Low On Outlook

Sapiens International Corp. (SPNS) announced Monday morning that it expects to report full year 2017 non-GAAP revenue of $271 million to $273 million and full year 2018 non-GAAP revenues of $280 million to $285 million.

 

CSRA Inc. (CSRA) Has Leaped To A New High After Bought By General Dynamics

CSRA Inc. (CSRA) announced Monday morning that it has agreed to be acquired by General Dynamics (GD) for $40.75 in cash, approximately $9.6 billion. CSRA has gapped open dramatically higher this morning and is now up 9.

 

Stocks May See Continued Rebound In Early Trading

The major U.S. index futures are pointing to a higher opening on Monday, with stocks likely to see further upside following the higher close seen last Friday. The upward momentum on Wall Street comes as traders seem likely to continue to pick up stocks at reduced levels following recent weakness.

 

Futures Pointing To Initial Strength On Wall Street – U.S. Commentary

After ending the previous session notably higher, stocks may see some further upside in early trading on Monday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 206 points.

 

New Jersey Issues Cease And Desist Order To Bitstrade

Authorities in New Jersey have issued a cease and desist order to a digital currency investment fund called ‘Bitstrade.’ New Jersey Attorney General Gurbir S. Grewal and the Division of Consumer Affairs announced that the Bureau of Securities issued an emergency order to stop Bitstrade, an online cryptocurrency-related investment entity, from “fraudulently offering unregistered securities.

 




Expedia Inc. (EXPE) Sank To A New Low After Q4 Profit Disappoints

Expedia Inc. (EXPE) reported fourth quarter EPS of $0.84 after the bell Thursday, down from $1.17 in the prior year period. The consensus estimate was for EPS of $1.

 

NCR Corp. (NCR) Fell To Over A 2-Month Low After Q4 Report

NCR Corp. (NCR) reported fourth quarter EPS of $0.92 after the close Thursday, down from $1.07 last year. Street expectations were for EPS of $0.87. The company expects to report first quarter EPS of $0.

 

Unisys Corp. (UIS) Set A 6-Month High After Jump In Q4 Profit

Unisys Corp. (UIS) reported fourth quarter EPS of $1.75 after the bell Thursday, up from $0.60 last year. Revenues rose 3.5% to $746.6 million from $721.7 million last year.

 

GOP Senate Candidate Austin Petersen Accepts Contribution In Bitcoin

Candidates have started accepting contributions to their election campaign fund in cryptocurrency. Libertarian-turned-Republican Senate candidate Austin Petersen announced he received a total of 24 cryptocurrency donations.

 

ION Geophysical Corp. (IO) Broke Out To A New High For The Year

ION Geophysical Corp. (IO) rose steadily until mid-morning Friday, before settling into a range. Shares finished with a gain of 4.50 at $27.55 on the highest volume of the year.

 

Spartan Motors Inc. (SPAR) Climbed To A 1-Month High

Spartan Motors Inc. (SPAR) traded to the upside for the majority of Friday’s session and ended the day with a gain of 1.45 at $15.55. Spartan Motors has been attempting to recover following over a month long pullback from the highs of the year.

 

MCBC Holdings Inc. (MCBC) Broke Out To A New High On Q2 Results

MCBC Holdings Inc. (MCBC) reported second quarter EPS of $0.43 Thursday, up from $0.22 a year ago. The company expects full year 2018 Adjusted EPS to grow in the low to mid-40 percent range.

 

Portugal Inflation Slows For Second Month

Portugal’s consumer price inflation eased for the second straight month in January, figures from Statistics Portugal showed Monday. Inflation moderated to a 6-month low of 1.

 

Wall Street Poised For Strong Opening

The initial trading of U.S. Futures Index point to a broadly higher opening for Wall Street. Asian shares closed mixed on Monday, while European shares are trading higher.

 

Wall Street Poised For Strong Opening

The initial trading of U.S. Futures Index point to a broadly higher opening for Wall Street. Asian shares closed mixed on Monday, while European shares are trading higher.

 

Sensex, Nifty Surge On Firm Global Cues

Positive cues from global markets helped Indian shares recover from their biggest weekly losses since August on Monday. The benchmark BSE Sensex jumped 294.71 points or 0.

 

MobileIron Inc. (MOBL) Jumped To A 6-Month High On Q4 Results

MobileIron Inc. (MOBL) reported fourth quarter non-GAAP EPS of $0.00 Thursday, compared to the loss of $0.03 in the previous year. Revenues rose 7 percent to $48.

 




A female executive at Steve Cohen’s investment firm says it created a hostile work environment toward women

Lauren Bonner, an associate director at Point72 alleges that the company pays women less money than what the suit describes as less-qualified male employees.

 

Walgreens has reportedly approached a massive drug distributor about a takeover

One of America’s largest pharmacy businesses has reportedly approached one of the US’s largest drug distributors, The Wall Street Journal reports.

 

Apple topped the Swiss in holiday watch shipments

Apple Watch may not be an iPhone-like success, but in its industry, it’s becoming a standout hit.

 

Microsoft just hired a chief diversity officer — and IBM is suing them over it

BI PRIME: IBM claims that its diversity strategy is confidential, and that the company is put at risk if its competitors find out what it is.

 

Amazon laying off hundreds amid hiring spurt

Amazon.com Inc. AMZN, +3.48% is laying off hundreds of workers, even as it continues on a nationwide hiring spree and seeks to build a new headquarter

 

AmerisourceBergen shares skyrocket on report of Walgreens takeover bid

Walgreens Boots Alliance Inc. WBA, +0.00% is making a bid to take over AmerisourceBergen Corp. ABC, +0.29% the Wall Street Journal reported late Monda

 

Cheer Up

Adage:

A new ‘Black Box’ concept for the wall street hedge fund manager: 1) put 10 hungry monkeys in a box, each representing a different investment class that they are considering.. .2) toss in one ripe banana… 3) close the box and turn off the light!

Cartoon:


Image courtesy: www.forexfactory.com

Have a nice trading!




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