Heads-up News 

Sydney Trading Session Heads Up Monday, March 12, 2018

Sydney opening news digest

Lawsuit claims Wall Street’s ‘fear gauge’ was ‘manipulated’

Wall Street’s so-called “fear gauge” was rigged, a new federal class action lawsuit alleges.

 

Saudi Aramco IPO: Why it might slip into 2019

Saudi officials were hoping to sell shares in oil giant Aramco this year but 2019 is now looking more likely.

 

Former Microsoft and GM CFO in mix to replace Gary Cohn

Chris Liddell, formerly CFO of General Motors and Microsoft, is in the running to be the next National Economic Council director. So is CNBC personality Larry Kudlow. Wall Street would cheer either pick over someone like Peter Navarro.

 

How the UK could hit back at Russia over Sergei Skripal attack

The British government has a range of tools it can use to strike back at Moscow after the Kremlin was linked with the attempted murder of former Russian double agent Sergei Skripal.

 

Goldman Sachs’ Harvey Schwartz retires, signaling David Solomon will be its next CEO

Goldman Sachs just named an heir apparent to Lloyd Blankfein. Harvey Schwartz announced plans to retire, paving the way for David Solomon to eventually become CEO.

 

Ford and GM to get hit by Trump’s tariffs — but not as badly as feared?

One Wall Street analyst recently suggested that profits for GM and Ford could fall by $1 billion due to tariffs on steel and aluminum.

 

How To Estimate Bitcoin’s Fundamental Value

Bitcoin pricing has rebounded of late to again approach the $10,000 mark, which is our estimate for its current fair value based on our bitcoin price estimator dashboard.

 

The Historic Bull Market Faces Off Against Steel Tariffs

Friday marked the 9th anniversary of the stock bull market, the second longest since WWII following the spectacular run in the 1990s that met its match when the tech bubble burst in 2000. If it can avoid dropping more than 20 percent in the next six months, it will become the longest-lasting ever.

 

Can CVS’s Acquisition Of Aetna Live Up To Its Price Tag?

Drug retail chain CVS has completed a $40 billion bond sale, the third-largest corporate bond sale on record, to finance its proposed acquisition of health insurer Aetna.

 

Insider Buys: Cross Country Healthcare And Four Other Companies

The chief executives of these five companies bought their own shares in February and March.

 

How Discrete GPU Market Growth Can Boost Nvidia’s Results

The market for GPUs, and discrete GPUs in particular, has been Nvidia’s bread and butter, as the company has garnered a substantial position in this market in the last few years.

 




How This Pot Lifestyle Guru Aims To Raise A Million Dollars

This cannabis entrepreneur is betting on equity crowdfunding and her fans to spread the word that she’s raising capital to build her brand

 

Going Private Could Be The Best Thing To Ever Happen To Nordstrom–With One Big Caveat.

The Nordstrom family has been looking to take the company private for some 8 months now. Last week its $8.4 billion offer was rejected. With one big caveat, the notion of taking the company private should ultimately be a really smart move.

 

Apple And 4 Other Stocks That Fit Buffett’s Investing Style

Investors can utilize the investment factors important to Buffett to find stocks that hold investment potential and stack up fundamentally based on a series of financial and valuation criteria.

 

How To Trade U.S. Equity Averages That Are Nearing Risky Levels

The Nasdaq powered to a new all-time intraday high on Friday. Here’s how to trade it and four other indexes now.

 

Why Do Some Predictions Succeed & Others Fail? Watch The PBS Show, ‘Predictions By The Numbers’

Is it a science or an art? Predicting what’s to come by analyzing numbers — the PBS show Predictions by the Numbers explores probabilities.

 

Tax Reform Provides Boost To Small Business Retirement Plans

The Tax Cuts and Jobs Act is going to have a lot of unintended consequences—some good and some bad. One encouraging impact that the new tax reform could have is to increase the number of defined benefit and cash balance retirement plans set up by small businesses.

 

Gold Prices Hold Fibonacci Support, but for How Long?

Gold bulls have posed waning enthusiasm since setting a fresh yearly-high in late-January. This has helped to bring-in a bearish channel, but buyers have continued

 

Bitcoin May Set Fresh Lows As Traders Are Further Net-Long

The combination of current sentiment and recent changes gives us a stronger Bitcoin-bearish contrarian trading bias.

 

Euro Weakness May Continue On Weak Sentiment

Recent changes in sentiment warn that the current EURUSD price trend may soon reverse lower despite the fact traders remain net-short.

 

EUR/JPY Resistance Test at Prior Support Keeps Door Open for Bears

EUR/JPY was previously in a consistent bullish trend that even held-up through the ECB’s extension of QE last October. But that support has already started

 

USD/JPY Downtrend Remains; Potential Pennant in GBP/USD

Domestic issues in Japan and the UK are proving to be the major influences in FX markets at the start of the week.

 

Bearish EUR/JPY With Deeper Breakdown Potential

EUR/JPY put in a breakdown of the prior bullish trend in February, and that move showed initial signs of continuation as we opened into March.

 




Setback Likely for USDCHF Before Uptrend Resumes

USDCHF is facing strong near-term resistance around the 0.96 level and looks likely to fail there and slip back before its current uptrend restarts.

 

US AM Digest: US Dollar Edges Higher; Pound Up on Brexit Headlines

The US Dollar has started the week on slightly higher footing, recovering more ground as the prospect of steep tariffs on the United States’ major

 

EUR/USD Drops to Support, USD Range Expands Ahead of CPI, FOMC

This week’s calendar calms from the busier schedule of the past couple of weeks; but next week’s FOMC rate decision looms large as we’re seeing

 

Bloomberg Today Crossing Wall Street

Here I am on Bloomberg ” rel=”noopener” target=”_blank”>this afternoon.

Posted by Eddy Elfenbein on March 12th, 2018 at 5:28 pm

The information in t

 

RBC: McDonald’s hyped its new Dollar Menu so much that the real game changers were overlooked (MCD) | Markets Insider

McDonald’s new $1, $2, $3 menu isn’t living up to the hype. 
RBC Capital Markets says the menu is stealing the spotlight from other new food offering…

 

A California asset manager has a cryptocurrency fund that’s up by 50% in 4 months

Bitwise Asset Management now has more than 500 LPs invested in its so-called HODL fund.

 

Tesla spikes despite news it temporarily shutdown Model 3 production last month (TSLA) | Markets Insider

Tesla is up more than 5% Monday despite no significant positive news or Wall Street analyst upgrades.
There were reports, however, that the company had to…

 

A throwaway comment in a conversation with Richard Branson hints at the future of Goldman Sachs

BI PRIME: The path is now clear for David Solomon to succeed Lloyd Blankfein as CEO of Goldman Sachs. His ascension could also signal a large cultural shift.

 

TRUMP: ‘Phase 2’ tax cut might be on the way

“Kevin are we going for an additional tax cut, I understand?” President Trump said at a meeting with the Houston Astros at the White House.

 

Netflix sinks as short-seller says it could fall to $300 (NFLX) | Markets Insider

Netflix is the best performing FAANG stock of 2018 so far, but that same outperformance is fueling skepticism. 
Shares of the streaming company fell …

 

Nike is showing 3 signs it can turn around its sneaker slump (NKE) | Markets Insider

Nike is showing some signs of progress toward accelerating sales growth and margins, Wedbush Analyst Christopher Svezia says.
Svezia believes the company’…

 

Barclays has now run point on the 3 biggest debt deals in history — here’s how it’s able to punch above its weight class

BI PRIME: Business Insider spoke with two Barclays bankers to find out how the firm has been able to land lead roles on the three biggest debt deals in history.

 




The race to replace Gary Cohn as Trump’s top economic adviser is heating up — and 2 big names have become the frontrunners

CNBC’s Larry Kudlow and the ex-Microsoft exec Christopher Liddell are said to be frontrunners to replace Gary Cohn as the top White House economic adviser.

 

What you need to know on Wall Street today

Hello. Here’s what you need to know on Wall Street today.

 

CRYPTO INSIDER: ‘Pure capitalism:’ Exchanges charge up to $1 million to list ICOs | Markets Insider

Welcome to Crypto Insider, Business Insider’s roundup of all the bitcoin and cryptocurrency news you need to know today. Sig…

 

Wall Street trading firm trueEx is set to launch a derivatives platform for cryptocurrency

A Wall Street trading tech firm is diving into the world of cryptocurrency with a new derivatives platform.

 

There’s a suspicious burst of taxi rides to and from Wall Street banks and the New York Fed around the time of key Fed meetings

New York City taxi data shows increased activity around the Federal Reserve Bank of New York around the Fed’s eight yearly policy meetings.

 

The man likely to be the next CEO of Goldman Sachs says the perfect résumé won’t get you the job — here’s what will

David Solomon, the co-president and co-COO of Goldman Sachs, says there’s one subject every college student should get a little exposure to.

 

Goldman Sachs hits an all-time high as it becomes clearer who will replace Lloyd Blankfein as CEO (GS) | Markets Insider

Goldman Sachs’ current co-COO David Solomon is set take over when current CEO Lloyd Blankfein retires. 
Shares of the bank spiked after Goldman said …

 

Disney is set to dominate Netflix in the battle to be ‘the world’s leading content company’ (DIS) | Markets Insider

Disney has all the means to become the ‘world’s leading content company,’ writes Steven Cahall, an analyst at RBC Capital Markets.
The company could spend…

 

John Oliver compares bitcoin to a $15,000 Beanie Baby: ‘You’re not investing — you’re gambling’

John Oliver gave a crash course on bitcoin, cryptocurrency, and blockchain on Sunday night’s “Last Week Tonight.”

 

People are freaking out about a trade war — but the stock market is saying something else

BI PRIME: Goldman Sachs has two charts that dispel the idea that a global trade war is bad for mega-cap US stocks.

 

It just became a lot clearer who will replace Lloyd Blankfein at the top of Goldman Sachs

Harvey Schwartz, a Goldman Sachs executive who was considered a potential successor to CEO Lloyd Blankfein, just unexpectedly retired.

 

‘I leave with my heart full and head held high’: A senior exec at trading technology firm ITG is out

Jamie Selway, a market structure expert, was with ITG for seven years.

 




Advaxis shares drop as cancer-drug study on hold after death

Advaxis Inc. ADXS, +0.45% shares sank in the extended session Monday after the biotech company’s cancer-drug study was placed on hold following the de

 

Lattice CEO Billerbeck to retire, COO Hawk named as interim chief executive

Lattice Semiconductor Corp. LSCC, +0.47% late Monday said its Chief Executive Officer Darin Billerbeck is retiring, effective March 16. The board has

 

Stitch Fix stock drops in late trading after earnings miss

Stitch Fix Inc. SFIX, +6.87% shares dropped in the extended session Monday after the company missed earnings expectations. Stitch Fix shares dropped n

 

Tilly’s shares fall more than 13% on quarterly sales miss

Shares of Tilly’s Inc. TLYS, +5.44% tanked more than 13% late Monday after the retailer posted fourth-quarter sales below expectations. Tilly’s said i

 

Stitch Fix stock surges nearly 10% ahead of earnings

Stitch Fix Inc. SFIX, +6.87% stock jumped nearly 10% in afternoon trading Monday, ahead of the company’s earnings release after the market closes. Sti

 

Dow ends lower amid report that Kudlow will interview as possible Cohn replacement

U.S. stocks finished firmly lower on Monday, with the Dow down about 160 points, amid reports suggesting that CNBC contributor Larry Kudlow was the le

 

Stock market ends mostly higher, Nasdaq closes at records

U.S. stocks closed mostly lower on Monday, though the Nasdaq ended at a record for a second straight session. The Dow Jones Industrial Average fell 15

 

Larry Kudlow may interview for White House economics job this week: WSJ

Top White House officials have reached out to gauge Lawrence Kudlow’s interest in becoming President Donald Trump’s top economic adviser, and the CNBC

 

Time Warner upgraded to buy at UBS, as analysts remain confident AT&T deal will close by mid-year

Analysts at UBS upgraded shares of Time Warner Inc. TWX, +1.56% to buy from neutral on Monday, as media companies become more engrossed in the arms ra

 

Boeing, Caterpillar’s stock exact roughly 100-point toll on Dow industrials

The Dow Jones Industrial Average traded firmly lower Monday afternoon, on the back of a selloff in shares of industrial giants Boeing Co., and Caterpi

 

Oil prices retreat as data point to continued gains in U.S. output

Oil prices settled with a loss on Monday, giving back part of the sharp gains seen in the previous session as recent data showed a rise in weekly U.S.

 

U.S. shale oil output forecast to climb by 131,000 barrels a day in April: EIA

Shale crude-oil production from seven major U.S. oil plays is expected to see a climb of 131,000 barrels a day in April to 6.954 million barrels a day

 




Micron shares rally as analyst nearly doubles price target

Micron Technology Inc. MU, +8.76% shares surged Monday after one analyst nearly doubled his price target on the stock. Micron shares rallied nearly 12

 

Democrat Lamb leads in new poll of Pennsylvania special election

Democrat Conor Lamb leads Republican Rick Saccone in a new poll of Pennsylvania voters a day ahead of a closely watched special House election. The Mo

 

U.K. Prime Minister May: Russia ‘highly likely’ behind Salisbury spy poisoning

U.K. Prime Minister Theresa May said on Monday it was “was highly likely Russia was responsible” for poisoning former spy Sergei Skripal and his daugh

 

Apple to buy Texture, the digital magazine subscription service by Next Issue Media

Apple Inc. AAPL, +0.97% said Monday it has reached a deal to buy Texture, which is Next Issue Media LLC’s digital magazine subscription service, for a

 

Blankfein succession plan coming into focus as Harvey Schwartz, Goldman’s co-COO and former CFO, sets exit

Harvey Schwartz, co-chief operating officer and president at Goldman Sachs Group Inc., is set to retire, the company announced via Twitter early Monda

 

Small-cap barometer less than 1 percentage point from all-time high close as stock market climbs

The most popular benchmark of small-capitalization stocks on Monday was less than a percentage from a record, underlining a relatively brisk recovery

 

U.S. stocks rally broadly, 10 of 11 primary S&P 500 sectors higher

U.S. stocks rose on Monday, with stocks advancing in a broad rally that had 10 of the 11 primary S&P 500 sectors higher on the day. The only negative

 

Adamas stock rises 5% on strong launch of Parkinson’s drug

Adamas Pharmaceuticals Inc. ADMS, +3.76% shares rose 5% in Monday morning trade after the company released new data showing that its Parkinson’s disea

 

Stock market opens higher, Nasdaq hits a fresh all-time peak, as Wall Street focuses on upbeat jobs report

U.S. stock-market indexes on Monday traded higher, with the Nasdaq Composite climbing deeper into record territory, as investors viewed last week’s jo

 

Regeneron discounts on cholesterol drug sends some rival stocks down

Regeneron Pharmaceuticals Inc.’s REGN, +0.83% plans to lower the price of its cholesterol-lowering medication Praluent sent shares of some of its riva

 

Anthera Pharmaceuticals’ stock plunges toward record low after failed drug trial

Shares of Anthera Pharmaceuticals Inc. ANTH, -80.87% plummeted 84% in premarket trade Monday, after the biopharmaceutical company said it would suspen

 

Forex: Top FX Headlines: USD/JPY Downtrend Remains; Potential Pennant in GBP/USD: 3/12/18

– A potential scandal surrounding Japanese Finance Minister Taro Aso has traders rethinking Abenomics’ ‘weak JPY’ point of view. ‘ Signs that a transition de…

 




S&P 500 and NASDAQ 100 Forecast March 13, 2018

The S&P 500 rallied a bit during the trading session on Monday but gave back most of the gains to form a bit of a shooting star looking candle. Because of th…

 

EUR/USD and GBP/USD Forecast March 13, 2018

The EUR/USD pair initially pulled back during trading on Monday but found enough support near the 1.2275 level to turn things around and rallied significantl…

 

USD/JPY and NZD/USD Forecast March 13, 2018

The US dollar rolled over a bit on Monday against the Japanese yen, as it looks like we have started a bit of a “risk off” move again. However, I see a signi…

 

WTI Crude Oil and Natural Gas Forecast March 13, 2018

The WTI Crude Oil market has been noisy during Monday trading, falling significantly but finding buyers later in the day. I think at this point, it looks as …

 

Bitcoin Forecast March 13, 2018

Bitcoin initially tried to rally during the trading session on Monday but found the $10,000 level to be far too resistive to continue going higher. Because o…

 

Monday Market update 12th March 2018

David talks about the lack of reaction from the Trump tariffs, and the positive reaction from latest US jobs report. Get the latest daily analysis on product…

 

Cheer Up

Adage:

Q: How bad is the economy?
A: Vice President Cheney took his stockbroker hunting!

Cartoon:


Image courtesy: www.profitf.com

Have a nice trading!




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