Sydney opening news digest
|Will ether rally sharply in the last few months of this year?|
|Mean reversion is the concept that given enough time, individual asset class returns revert to their long run averages. We trace the magnitude and duration of this cyclical effect on investments on both growth vs value and domestic vs international in this KnowRisk Report.|
|It would be typical to expect stellar employment reports to lead to a rise in equity indexes. But, today is not typical.|
|We are in an aging bull market for stocks and many people are worried that the great run we have enjoyed over the past decade is coming to an end. Especially, because it has been ten years since we have seen a month as volatile as October.|
|The noise-trader momentum driving the stock is evaporating, the company’s mounting (and increasingly expensive) debt poses a significant near term liquidity risk, and the bull case is full of holes.|
|Starting today, the five-day festival known as Diwali—literally, “a row of lights”—will be observed by millions of Hindus, Sikhs and Jains worldwide. A celebration of good triumphing over evil, the festival typically coincides with the Hindu new year.|
|I think these stocks will see a lot of capital flow to them when the second micro bubble bursts.|
|The most likely outcome going forward is that military budgets will flat-line for the remainder of the Trump presidency, presenting the services with painful choices about their highest priorities. Here are the possible impacts for individual weapons systems and initiatives.|
|The weakness in global debt capital markets had a notable impact on debt origination fees earned by investment banks around the globe in Q3|
|Is debt good or bad? The answer is “Yes.”
Debt is future spending pulled forward in time. It lets you buy something now for which you otherwise don’t have cash yet.
|This morning, investors appear to be optimistic a day after midterm elections in the United States. The positivity seems to be coming as one source of uncertainty is now behind the market.|
|The Puerto Rico Electric Power Authority’s (PREPA) proposed privatization is not the magic elixir for improving the utility plagued by political meddling and corruption. Improving PREPA will depend on achieving independent governance, regardless of whether PREPA is a private or public entity.|
|The success of FAANG companies has given them outsize influence on the markets and society. We’re taking a look at the next crop of possible long-term tech winners. We call them TANDs.|
|To become a “Dividend Aristocrat,” a dividend paying company must accomplish an incredible feat: consistently increase shareholder dividends every year for at least 20 consecutive years.|
|The very future of the Eurozone and European project is at risk if Italy refuses to draft a new budget by November 13th. Rome refuse to retreat, so I see markets as overvaluing Italian debt.|
|It’s a pitfall that can slash your income and your nest egg overnight—and this hidden trap is particularly dangerous to your financial health right now.|
|Fears of an impending global trade war and several other macroeconomic trends had a negative impact on equity capital market activity over the third quarter of 2018, with companies around the globe delaying plans of IPOs or FPOs to avoid choppy market conditions.|
|The five largest U.S investment banks reported over $2.5 billion in M&A advisory fees in Q3 2018 – a reduction of roughly 7% from the figure of $2.7 billion a year ago as well as in the previous quarter.|
|“Stocks are plunging… what should I do?” That’s the #1 question readers are asking me .|
|EUR/USD remains bid ahead of the Federal Reserve meeting, with the exchange rate at risk for a near-term rebound amid the failed attempt to test|
|Stocks are jumping today following yesterday’s mid-terms, and this extends the November recovery from the October sell-off.|
|The Reserve Bank of New Zealand (RBNZ) meeting may curb the NZD/USD correction should the central bank endorse a dovish forward-guidance for monetary policy.|
|A brutal October has led into a very bullish November, at least so far, for the British Pound. But with prices nearing a big zone|
|Gold has carved out a well-defined weekly/monthly opening-range just below key resistance. These are the targets & invalidation levels that matter on the XAU/USD charts.|
|NZDUSD Outlook: RBNZ May Spark Larger Short Squeeze|
|The DXY Index is working on a doji candle as attention shifts away from US midterm elections to the November FOMC meeting.|
|Retail trader sentiment data suggest gains for both the Euro and the British Pound against the US Dollar after the US mid-term elections.|
|One major risk event is now in the rearview with yesterday’s mid-term elections, and another is on the horizon with today’s FOMC rate decision. The|
|Crude Oil Boosted on OPEC Jawboning, NZD Soars Ahead of RBNZ – US Market Open|
|The cryptocurrency market broke slightly higher over the last few days and volume picked-up. Is the recent market torpor about to be broken?|
|The stocks markets have been on fire and as far as Wall Street went, it was a sea of green despite a wave of Blue hitting the White House.
|RBNZ’s Orr is speaking in the presser and has said that they are not taking a rate cut off the table.
Data dependent RBNZ leaves Official Cash Rat
|NZD/USD 4-hour chart
|Analysts at Westpac explained that equity markets rallied strongly in Europe and the US as the election results were digested.
|Analysts at CIBC, point out the legislative inaction will not translate into a non-event for the US economy in the final two years of Donald Trump’s f|
|AUD/NZD dropped below the 200 week moving average at 1.0762 for the first time in four months after this week’s jobs data that followed a series of mo|
|EUR/JPY 4-hour chart
Resistance 1: 130.00 figure
Support 1: 129.50
|The NZD/USD pair remained around 0.6780/90 following the decision of the Reserve Bank of New Zealand to keep rates unchanged as expected. The kiwi pea|
|The RBNZ has left the Official Cash Rate (OCR) at 1.75% and says expects to keep the OCR at this level through 2019 and into 2020.
RBNZ says there are
|United States Consumer Credit Change registered at $10.92B, below expectations ($16.5B) in September|
|New Zealand RBNZ Interest Rate Decision meets expectations (1.75%)|
|Gold rose earlier today to $1,236 and tested weekly highs but failed to break higher and pulled back, erasing all daily gains. Price dropped to $1,225|
|Analysts at ANZ Bank New Zealand Limited noted that the RBNZ is coming up.
“Despite the stronger starting point for GDP, CPI and yesterd
|In a market wrap, analysts at ANZ Bank New Zealand Limited explained that global equities are welcoming reduced US political uncertainty.
The RBNZ is expected to leave the Official Cash Rate (OCR) at 1.75% at its policy meeting today, however, this meeting will garner far
|According to analysts at Wells Fargo, global growth may be starting to slow. The see the slowdown in China as one of the main concerns.
|EUR/USD had been sliding since the markets digested the results of the midterms while the DXY drifts back some ground lost. DXY has drifted higher fro|
|AUD/NZD Daily chart
Spot rate: 1.0721
|According to Richard Franulovich and Sean Callow, Strategists at Westpac, the lack of a major surprise in the mid-term US elections limited the net m|
|Analysts at Standard Chartered, point out that the FOMC will need to decide soon whether bank reserves remain abundant or return to scarcity. They exp|
|AUD/USD 4-hour chart
Main trend: Bullish
Resistance 1: 0.7300 figure
|Analysts at Wells Fargo, have further reduced their forecasts for home sales and new home construction following the recent string of weaker housing r|
|Analysts at TD Securities expect that the November FOMC meeting should pass without much market impact, as the Fed should remain on track for another|
|AUD/USD has rallied from 0.72 the figure and the heels of the Kiwi that came out with some very impressive jobs data yesterday. The dollar was also on|
|United States 30-Year Bond Auction climbed from previous 3.344% to 3.418%|
|S&P500 daily chart
Main trend: Bullish
|US President Donald J Trump is holding a press conference and is now taking questions from the press following the outcome of the Mid-Term Congression|
|The USD/JPY pair trimmed losses during the American session amid a recovery of the US Dollar across the board, following US election results. The pair|
|USD/JPY 4-hour chart
Main trend: Bullish
Resistance 1: 113.55 October 2 low
|US President Donald J Trump is holding a press conference following the outcome of the Mid-Term Congressional Elections whereby the Democrats have tak|
|Markets Got the Midterms Right. Now What Happens?
What the Election Results Mean for Business
Job Openings Outnumbered Unemployed Americans by More
|Stocks rose Wednesday following the 2018 midterm elections.
Democrats captured control of the House, while Republicans expanded their Senate majority.
|Square reported third-quarter results after Wednesday’s closing bell that beat on both the top and bottom lines.
Shares slid 6% in after-hours tradin…
|Attorney General Jeff Sessions, a longtime opponent of legal marijuana, resigned Wednesday as attorney general.
The cannabis producer Tilray surged 30% on…
|Samsung showed off a foldable smartphone that it created using a new type of display called “Infinity Flex.”|
|Of the 69 new partners at Goldman Sachs, we highlighted a few standouts from different areas across the bank.|
|Match Group, the owner of Tinder, beat on both the top and bottom lines.
The dating-service provider delivered fourth-quarter revenue guidance that fell s…
|‘The act of impeachment alone could create noise in markets-although we don’t see any potential decline (or bounce) as long-lasting. Why? Generally spea…|
|The $9 billion cloud communications platform Twilio saw its stock surge after it posted earnings. Here’s what Twilio reported.|
|Apple and its investors will thus be relieved they are no longer in her searchlight.|
|Goldman Sachs named its new partners on Wednesday. Here’s a list of the bankers who just joined one of the most prestigious clubs on Wall Street.|
|After the murder of journalist jamal Khashoggi, Saudi Arabian investments are being looked at with increased scrutiny — and it could put Uber’s IPO in jeopardy.|
|Weed stocks are rallying after Michigan legalizes marijuana for recreational use|
|The tech sector has become a trap for investors trying to replicate their prior success, and a $2 trillion strategist has ideas for what you should by instead.|
|Dialysis stocks are up Wednesday following the midterm election. California voters rejected Proposition 8, which would’ve limited the revenue of dialysis clinics in the state.|
|Papa John’s missed on both the top and bottom lines, but its comparable sales slump was better than feared.
The pizza chain slashed the high end of its pr…
|Colorado voters in Tuesday’s midterms rejected Proposition 112, which would have restricted oil exploration in the DJ Basin.
Oil explorers that operate in…
|Voters in Tuesday’s 2018 midterm elections made Michigan the 10th US state to legalize the recreational use of marijuana.
Utah and Missouri legalized the …
|The 2018 midterm elections went as expected, but Dennis DeBusschere of Evercore has a trade he says is going largely overlooked.|
|Michael Kors beat on profits but missed on sales.
Its same-store sales dropped 2.1%, mostly due to a decline in the European market.
|TripAdvisor Inc. TRIP, +1.88% shares rallied in the extended session Wednesday after the travel site’s quarterly earnings topped Wall Street estimates|
|U.S. stocks on Wednesday registered the best day in weeks following midterm election votes that resulted in a split Congress, as expected, but removed|
|Roku Inc. ROKU, +5.83% shares dropped more than 10% in after-hours trading Wednesday despite a quarterly earnings report that topped expectations, as|
|Shares of IAC/InterActiveCorp. IAC, -6.02% were down 1.9% in after-hours trading after the company beat third-quarter revenue expectations and announc|
|Qualcomm Inc. QCOM, -0.66% shares rose in the extended session Wednesday after the chipmaker topped Wall Street estimates for the quarter. Qualcomm sh|
|The Dow Jones Industrial Average DJIA, +2.13% surged by more than 500 points late Wednesday, with the blue-chip gauge taking a fresh leg higher after|
|Rep. Jerry Nadler, the New York Democrat who is slated to lead the House Judiciary Committee next year, said he wanted “answers” on why Attorney Gener|
|Jeff Sessions is resigning as attorney general and will be replaced by his chief of staff Matthew Whitaker, President Donald Trump said Wednesday. The|
|The Securities and Exchange Commission announced Wednesday that ITG Inc. ITG, +8.29% and its affiliate AlterNet Securities will pay $12 million to set|
|General Electric Co. GE, -2.34% investors only got a one-day reprieve, as the struggling diversified industrial company’s stock resumed its tumbled to|
|Coty Inc. COTY, -22.54% Chief Executive Camillo Paine said the beauty company will “modify” its distribution center consolidation plan for the rest of|
|Treasury prices shed their earlier gains, pushing yields off their sessions lows, after a 30-year bond auction drew poor demand from investors. The 10|
|The Dow Jones Industrial Average DJIA, +2.13% was rallying on Wednesday, rising above a psychological level at 26,000 for the first time in about a mo|
|Shares of Amazon.com Inc. AMZN, +6.86% surged 5.7% in midday trade Wednesday, enough to pace its consumer discretionary peers, after the e-commerce an|
|President Donald Trump tore into CNN’s Jim Acosta at a White House news conference on Wednesday, calling the reporter a “rude, terrible person.” Acost|
|U.S. stock benchmarks midday Wednesday were trading at intraday highs, as President Donald Trump championed the successes of GOP candidates in midterm|
|Citigroup C, +2.37% was fined $38.7 million by the Securities and Exchange Commission over its handling of what are called “pre-released” American Dep|
|Shares of Etsy Inc. ETSY, +23.70% shot up 27% in active midday trade, putting them on track for the biggest one-day gain in over three years, after th|
|A quarter of all sales on Election Day (25.1%) took place on smartphones, according to data provided by Adobe, up 28.3% from smartphone sales activity|
|The S&P 500 index SPX, +2.12% climbed 1.2% midday Wednesday, trading above its long-term trend line for the first time in a few weeks. The S&P 500 ind|
|Papa John’s International Inc. PZZA, +5.48% is in need of a buyer, say Stifel analysts led by Chris O’Cull. The pizza delivery company, which has been|
|Senate Majority Leader Mitch McConnell said Wednesday he discussed infrastructure as a potential area of compromise with House Minority Leader Nancy P|
|The Dow Jones Industrial Average traded near session highs Wednesday morning, as investors appeared to assume a sanguine stance after midterm election|
|U.S. oil prices turned lower Wednesday after the Energy Information Administration reported that domestic crude supplies rose by 5.8 million barrels f|
|CNBC reported Wednesday that Apple Inc. AAPL, +3.03% isn’t holding settlement talks with Qualcomm Inc. QCOM, -0.66% regarding an ongoing dispute about|
|Shares of MiMedx Group Inc. MDXG, -41.16% plummeted 34% to pace all Nasdaq losers in morning trade Wednesday, after the biopharmaceutical company disc|
|U.S. stock benchmarks opened solidly higher early Wednesday, as investors braced for a divided Congress and looked ahead to an updated policy statemen|
|Target Corp. TGT, +1.37% was upgraded to outperform from market perform at Cowen as analysts see the company’s price value, tech-enabled pickup option|
|Newell Brands Inc.’s shares NWL, +1.10% soared 3.5% in premarket trade Wednesday, after the owner of brands including Paper Mate and Sharpie said it i|
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|The cryptocurrency market capitalisation expanded by around 8% over the last week and turnover picked-up. Are buyers slowly returning to the market? -Subscri…|
|The US dollar has gone back and forth during the trading session on Wednesday in reaction to the election results, which have been erratic to say the least. …|
|The Euro went back and forth rather wildly during trading on Wednesday, mainly in reaction to the midterm elections in America. Ultimately though, I think tr…|
|The S&P 500 rose rather significantly during the trading session on Wednesday, breaking above the 2800 level initially. Ultimately, this is a good sign that …|
|Bitcoin markets did rally a bit overnight, but most of the session on Wednesday was rather quiet although above the $6500 level. That’s an area that was prev…|
|The WTI Crude Oil market continues to fall lower, breaking significantly below the $62.50 level during the Wednesday session. I believe that ultimately we co…|
|When trading the FX markets, it is absolutely vital that you know when to cut your losses. By being able to identify when it is time to get out of a trade, y…|
|With vanadium supply constricting and demand expanding, John Meyer, mining analyst and partner at SP Angel, explains that there are not many plays within the…|
|Mike Ingram, chief market strategist at WH Ireland, says there’s a 75% chance of a hike from the Federal Reserve (Fed) in December and just a 10% chance this…|
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