Heads-up News 

Sydney Trading Session Heads Up Tuesday, March 13, 2018

Sydney opening news digest

One idea to stop Venezuela’s downward spiral: Switch to the US dollar

A Venezuelan presidential candidate is proposing to replace the country’s spiraling currency, the bolivar, with the US dollar to end hyperinflation.

 

Jamie Dimon warns Trump tariffs may ‘backfire’

Jamie Dimon, the CEO of JPMorgan Chase, has a message for President Trump: Corporate America is worried about your trade agenda.

 

Trump loses two free trade advocates in one week

The departures of Gary Cohn and Rex Tillerson, two major free trade advocates in the administration, come as President Trump is set to impose sweeping tariffs.

 

What Larry Kudlow thinks about trade, taxes, stocks and recessions

Larry Kudlow — who is said to be Trump’s pick to head the National Economic Council — disagrees with Trump on tariffs and trade and thinks Trump needs to worry less about the stock market. Kudlow likes Trump’s tax cuts though.

 

Hedera Hashgraph Thinks It Can One-Up Bitcoin And Ethereum With Faster Transactions

Cryptocurrency startup Hedera announced plans to launch a new virtual currency platform in the second half of this year. So far, Hedera has raised $18 million in funding from accredited investors, including cryptocurrency holding company Digital Currency Group.

 

Bitcoin Struggles To Stay Above $9,000 As Traders Wait And See

Why has Bitcoin been having a hard time staying above $9,000?

 

A Tale Few People Know About An Oscar-Winning Investment

This is a story about a man who made a smart investment and went the distance pursuing his dream.

 

A Snapshot Of Schlumberger’s Business And Outlook

The downturn in the oil markets over the last three years caused Schlumberger , the world’s largest oilfield services company, to post significant declines in its revenues and profitability.

 

What Lies Ahead For Qualcomm As U.S. Blocks Broadcom’s Takeover Attempt?

The Trump administration blocked Broadcom’s bid for Qualcomm on national security grounds, in a move that could effectively end Broadcom’s pursuit of the U.S. communications technology giant. Here we take a look at why the deal fell through and what it could mean for Qualcomm going forward.

 

The Truth About Mnuchin And The Bond Market

Treasury Secretary Mnuchin has an explanation for everything- except for how the government is going to fund $1 trillion of debt this year.

 

How ‘Stormy’ Got Investors’ Attention

The Investment Climate Indicator’s primary role is to make the reader/investor think. Specifically, to consider that markets go up and down based on a wide variety of factors, including economic, valuation, emotional and political factors.

 




Stratfor’s 2018 Second-Quarter Forecast: Global Trends

All eyes will be fixed on the White House this quarter as it launches a trade offensive whose collateral damage will span the globe. As economic and political pressure mounts against China, North Korea will use a temporary detente with the South to undermine the U.S. containment strategy against it.

 

The Most Confused Identity In Your Portfolio: High Yield Bonds

High yield bonds, AKA “junk” bonds, have an identity crisis. They show up in our portfolio under the category of “bonds”, but in reality, they move more like the stock market than the bond market. They have characteristics of both bonds and stocks – and may be an important part of your portfolio.

 

Economist Lacy Hunt: These Conditions Preceded The Last 7 Recessions

In 2007, a dollar in debt generated 37 cents in GDP growth. In 2017, a dollar in debt created only 31 cents in GDP. Money supply and bank credit are collapsing.

 

Zendesk Stands Little Chance Against Industry Goliaths

As the market matures and competition firmly establishes itself, this firm’s lack of resources and highly negative margins create an uphill battle.

 

Yes, China Does Cheat In Trade – The Rest Of The World Needs To Wake Up

I have no doubt China is breaking the rules across numerous industries. The focus on new tariffs the U.S. is levying on steel and aluminum, and our trading relationship with China misses this bigger point. The entire multilateral trading system is the victim of China’s cheating.

 

2 Ways To Make Sure Your Portfolio Is Diversified

These are two quick ways you can ask yourself if your portfolio is diversified and now is the time to rebalance – before the next bear market.

 

Earnings Growth Not All It Seems At PacWest Bancorp

Last week, analysts parsed 409 10-K filings and collected 54,383 data points. In total, they made 8,989 forensic accounting adjustments with a dollar value of $1.3 trillion. Analyst Eric Roll identified two significant red flags in PacWest Bancorp’s (PACW) 2017 10-K

 

Bull Market Or Bear Market? Chart Reader Matt Peters Has Thoughts

Chartered Market Technician Matt Peters offers his analysis of charts for stocks, bonds and gold.

 

NZD/USD Technical Analysis: Rebound Struggles Before GDP Data

The New Zealand Dollar is struggling to build upside momentum having rebounded at familiar range support. All eyes now turn to fourth-quarter GDP data.

 

Price Action Setups Around a Falling US Dollar After CPI Sell-Off

The US Dollar’s down-trend continues after getting another kick-below the 90.00 level on DXY this morning. The fact that this weakness continues in the face

 

Crude Oil Price Forecast: US Production Surge Has Spreads Favor Downside

US surge in production remains in focus as inventory drawdowns have paused and OPEC is likely to hold off on extending production curbs as the

 

Weekly Technical Perspective on EUR/USD, EUR/JPY and EUR/AUD

A broader technical picture offers perspective on price with respect to trend. Here are the updated targets & invalidation levels that matter on the Euro

 




GBP/USD Breaks Out Amid Waning Bets for Four Fed Rate-Hikes in 2018

Topside targets are coming back on the radar for GBP/USD as fresh data prints coming out of the U.S. economy fail to boost bets for

 

US AM Digest: US Dollar Finds Little Relief in February CPI Report

For now, rates markets continue to price in a 100% chance of a 25-bps rate hike next week by the Fed, and three hikes in

 

US Dollar Bulls Retreat After CPI: JPY Falls Ahead of BoJ Minutes

CPI printed at 2.2% this morning for the sixth consecutive month at the Fed’s 2% target or higher. This led to a quick fall in

 

Sentiment Data Suggest Downside for Bitcoin, Ether, Litecoin and Ripple

Sentiment figures show retail traders heavily long the principal cryptocurrencies; from a contrarian viewpoint that suggests their prices could fall.

 

February CPI +0.2% Crossing Wall Street

This morning, the government reported that the CPI rose by 0.2% last month. Splitting out the decimals, it was up 0.15005%. Thank you for rounding.

T

 

Trump is considering a move that could set off ‘the next great crisis’ with China

President Trump wants to use an investigation into Chinese intellectual property theft to impose large tariffs and trade restrictions according to a new report.

 

Dick’s Sporting Goods’ CEO just called out Under Armour’s worst mistake

Under Armour’s expansion into more retailers has hurt Dick’s Sporting Goods.

 

Microsoft slides off record highs after 238 discrimination and harassment complaints filed by female workers go public (MSFT) | Markets Insider

Shares of Microsoft fell 2.44% after news the company received 238 internal complaints about gender discrimination and sexual harassment.
This was pa…

 

Dow drops 200 points as White House chaos continues | Markets Insider

Stocks fell Tuesday after President Donald Trump unexpectedly blocked the Broadcom-Qualcomm merger and ousted Secretary of State Rex Tillerson.
GE was the…

 

43 top economists were polled on Trump’s latest big policy — not a single one said it would help Americans

43 top economists were asked whether President Trump’s new tariffs on steel and aluminum were good for Americans. not a single one said yes.

 

Competitive video games are taking the globe by storm — and there are 5 companies that could reap the benefits (ATVI, EA, MSFT, NVDA, SNE) | Markets Insider

Esports represents a massive growth opportunity for companies, a Bernstein analyst said.
The sports category has a large fan base, which can number half a…

 




Starbucks quietly solved the biggest problem plaguing the brand — and customers are already seeing a huge change

Starbucks made some changes to its mobile ordering system, and the improvements were clear when Business Insider visited every day for a week.

 

With Tillerson gone, the first member of an infamous ‘suicide pact’ has left the White House

Rex Tillerson, Jim Mattis, and Steven Mnuchin reportedly had agreed to all leave if Trump fired one of them.

 

What you need to know on Wall Street today

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

 

Waymo just shared a video showing its driverless cars in action — and it should make the competition nervous

The Waymo driverless car experiment has been underway in Phoenix, Arizona since last year.

 

Wall Street gets a reprieve on 2 of its biggest worries about the economy

Key reports on inflation and wages should at least temporarily quell Wall Street fears of an imminent inflation spike.

 

CRYPTO INSIDER: We went inside SXSW’s bitcoin party | Markets Insider

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

 

‘No places to hide’: Global markets are undergoing a major change that’s left investors at serious risk

BI PRIME: Goldman Sachs says the Goldilocks market of strong growth without inflation is being challenged, posing huge risks to investors.

 

Amazon is reportedly planning to offer a new credit card tailored to the needs of small business owners

Amazon is looking to woo small business owners with an attractive new credit card offering, Bloomberg reported on Monday.

 

We did the math to see if it’s worth buying a Powerball or Mega Millions lottery ticket

Powerball has a jackpot of $420 million and Mega Millions is at $318 million this week. We did the math to see whether it’s worth buying a ticket.

 

The economist Joseph Stiglitz explains why he thinks the late Milton Friedman’s ideas have contributed to rising inequality in the US

Joseph Stiglitz blames the ideas of fellow Nobel laureate economist, the late Milton Friedman, for contributing to toxic byproducts of capitalism in the US.

 

Tesla’s Model 3 production is reportedly nowhere near its target — but don’t expect it to hurt the company

Tesla said it would produce 5,000 Model 3 vehicles a week by the end of the second quarter, but current estimates suggest that won’t happen.

 

Best Buy is punishing customers who return too many items — and it’s a disturbing trend sweeping across the retail industry

Best Buy, Home Depot, Victoria’s Secret, and other retailers use a third-party company to discreetly track how often shoppers return purchases.

 




Trump reportedly eyes $60 billion in tariffs on China goods

The White House reportedly is looking at imposing up to $60 billion in tariffs in Chinese goods, according to Reuters. The tariffs would be targeted a

 

API data reportedly show a weekly rise U.S. crude supply, but gasoline stockpiles fall

The American Petroleum Institute reported Tuesday that U.S. crude supplies rose nearly 1.2 million barrels for the week ended March 9, according to so

 

Boeing, Goldman stocks contribute about 70 points to Dow’s 170-point drop

The Dow Jones Industrial Average ended lower on Tuesday, driven partly by sharp declines in shares of Boeing Co. and Goldman Sachs Group Inc. The pair

 

U.S. stocks close lower, tech weakness ends lengthy Nasdaq streak

U.S. stocks closed lower on Tuesday, with equities dropping in a broad decline as political uncertainty returned to the forefront of Wall Street. The

 

Dow transports rally to buck weakness in broader stock market

The Dow Jones Transportation Average DJT, +0.48% rallied 0.7% in afternoon trade, to buck the weakness in the broader market, as gains in airline stoc

 

Oil prices post fourth decline in 5 sessions

Oil prices fell Tuesday, pressured by expectations for further gains in U.S. crude supply and production, with the Energy Information Administration s

 

Amazon’s stock heads for first loss in 8 sessions, as charts suggest ‘very overbought’ condition

Shares of Amazon.com Inc. AMZN, -0.64% fell 0.4% in afternoon trade Tuesday, putting them on track to snap a seven-session win streak, amid a broad pu

 

Tillerson says he’s delegating secretary responsibilities by end of day

Rex Tillerson said Tuesday he’s delegating his responsibilities as secretary of state by the end of the day, but will officially step down effective o

 

Apple says WWDC event to kick off June 4 in San Jose

Apple Inc. AAPL, -0.96% announced Tuesday that its Worldwide Developers Conference will begin on June 4 at the McEnery Convention Center in San Jose.

 

Gold prices log biggest single-session gain in a week

Gold prices rose Tuesday, notching their biggest one-day dollar and percentage gain in a week. U.S. President Donald Trump’s decision to remove Rex Ti

 

DSW’s stock soars after post-earnings call as CEO clarifies upbeat revenue guidance

Shares of DSW Inc. DSW, +10.71% shot up 9.5% in midday trade, in the wake of fiscal fourth-quarter results and an upbeat revenue outlook, a dividend h

 

AMD stock falls after report of Ryzen, Epyc vulnerabilities

Advanced Micro Devices Inc. AMD, +1.04% stock dropped suddenly Tuesday morning after a report that its chips were uniquely susceptible to a certain at

 




China’s Industrial and Commercial Bank doesn’t comply with U.S. anti-money laundering laws: Fed

The Federal Reserve on Tuesday said one of the world’s biggest banks, Industrial and Commercial Bank of China, had “significant deficiencies” in risk

 

Qualcomm stock falls as Trump’s blockage of buyout leaves it vulnerable, analyst says

Shares of Qualcomm Inc. QCOM, -4.95% are down 3.8% in Tuesday morning trading, after President Donald Trump said that he would block Broadcom Ltd.’s A

 

A key barometer for small cap stocks just touched a 7-week high

The small-capitalization Russell 2000 hit its highest level since late January, as that segment of the equity market has drawn buyers who have fretted

 

SEC fines foreign affiliates of KPMG, Deloitte and BDO

The Securities and Exchange Commission fined foreign affiliates of KPMG, Deloitte & Touche, and BDO for their involvement in audit work that allegedly

 

Canadian dollar slips on BOC Gov. Poloz’s dovish-sounding speech

The Canadian dollar USDCAD, -0.1080% dropped against its U.S. rival on Tuesday, as the early release of a speech by Bank of Canada Gov. Stephen Poloz

 

Amazon lifts Nasdaq to another record, set for eighth straight positive session

U.S. stocks rose broadly on Tuesday, with the Nasdaq on track for its longest streak of daily gains in about five months, thanks to a similarly long s

 

Proteostasis’s stock rockets on heavy volume after BTD granted

Shares of Proteostasis Therapeutics Inc. PTI, +54.11% rocketed 70% toward an 11-month high in very active morning trade Tuesday, after the biopharmace

 

GrubHub stock rises after Guggenheim raises price target to Street-high $140

Shares of GrubHub Inc. GRUB, -0.31% are up 0.6% in Tuesday morning trading after analysts at Guggenheim raised their price target on the stock to $140

 

Dow rises 180 points as inflation report matches expectations; Tillerson out as secretary of state

U.S. stock benchmarks traded firmly higher Tuesday morning following a report on consumer inflation that was in line with expectations and a White Hou

 

Altice USA added to Goldman Sachs conviction list, shares gain 5%

Analysts at Goldman Sachs on Tuesday added buy-rated Altice USA Inc. ATUS, +1.71% to the firm’s conviction list. The analysts see Altice’s valuation a

 

Zscaler increases size, price of IPO

Zscaler Inc. ZS, +0.00% increased the size and target price of its initial public offering Tuesday morning, ahead of an expected market debut Friday.

 

Stock-market index futures pare gains on report that Tillerson is out as secretary of state

U.S. stock-index futures on Tuesday cut early gains following a report that Rex Tillerson was stepping down as secretary of state. Futures for the Dow

 




Lagarde warns of criminal, financial stability risks from cryptocurrencies

International Monetary Fund Managing Director Christine Lagarde warned about the risks from bitcoin BTCUSD, -0.18% and other cryptocurrencies. In a bl

 

GE’s stock sinks after analyst slashes price target

Shares of General Electric Co. GE, -4.44% sank 2.5% in premarket trade, after J.P. Morgan analyst Stephen Tusa slashed his stock price target, citing

 

Trump says he will replace Tillerson with Pompeo as secretary of state

President Donald Trump said Tuesday he will replace Secretary of State Rex Tillerson with CIA Director Mike Pompeo. Trump asked Tillerson to step asid

 

Dollar pares gains despite CPI meeting expectations

The U.S. dollar pared its modest gains and dipped into negative territory on the back of Tuesday’s consumer price inflation report. As the report met

 

Amazon and others might be eyeing this pharmacy, analyst says

After Cigna Inc.’s CI, -1.75% acquisition of Express Scripts Holding Co. ESRX, -1.60% Diplomat Pharmacy Inc. DPLO, +0.27% could be the next takeover t

 

Treasury yields hold ground after consumer price index data

Treasury yields were largely unchanged after the February consumer price index report matched expectations. The 10-year note yield TMUBMUSD10Y, -0.78%

 

Price Action Setups Around a Falling US Dollar After CPI Sell-Off

The article accompanying this webinar can be found at the following location: https://www.dailyfx.com/forex/video/live_events/2018/03/13/price-action-setups-…

 

Blockchain Security: Owning Crypto vs Trading Crypto | #IGCryptoChat 3

DailyFX and IG collaborate to bring you the third instalment of #IGCryptoChat. IG’s Sara Walker is joined by DailyFX’s resident cryptocurrency expert Nick Ca…

 

S&P 500 and NASDAQ 100 Forecast March 14, 2018

The S&P 500 initially tried to rally during the trading session on Tuesday but found the 2800 level to be far too resistive to continue to go higher. We test…

 

WTI Crude Oil and Natural Gas Forecast March 14, 2018

The WTI Crude Oil market initially tried to rally during Tuesday but rolled over to slam into the uptrend line that I have marked on the chart. I think that …

 

Bitcoin Forecast March 14, 2018

Bitcoin markets went back and forth during the trading session on Monday, as the Bitcoin/US dollar market hovers around the $9100 level. The area is where we…

 

EUR/USD and GBP/USD Forecast March 14, 2018

The EUR/USD pair initially drifted a bit lower during trading on Tuesday but found enough support to turn around and rallied again. Because of this, it looks…

 




USD/JPY and AUD/USD Forecast March 14, 2018

The US dollar initially rallied against the Japanese yen, reaching towards the 107 handle, but then turned around to fall and form a shooting star. The shoot…

 

Blockchain Security: Owning Crypto vs Trading Crypto | #IGCryptoChat 3

Join us live for #IGCryptoChat 3 where we sit down with Stephan Tual, founder of Atlas Neue and Slock.it, and Nick Cawley, DailyFX’s resident cryptocurrency …

 

Cheer Up

Adage:

No matter how much work you put into developing your system, if it takes you 5 minutes to make a decision and you are trading on 3 minute bars, you probably won’t be successful.

Cartoon:


Image courtesy: www.profitf.com

Have a nice trading!




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