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Some Asian Markets Closed For Lunar New Year

The Chinese Lunar New Year Holiday began this weekend. which means markets in key economic regions are closed this week. On the list are China and Korea. two important players on the tech scene. Optimism was high going into the holiday. after positive news from Washington. Trade representatives on both sides of the US/China trade negotiation. say a meeting between Trump and Xi is in the works. and slated for later this month.

Trading in Japan and Australia was bullish on both fronts. Both indices were able to post gains near 0.50%. on earnings and outlook for 2019. The outlook for 2019 is not strong growth. but it is calling for growth on a localized and global scale. In earnings news, shares of Sony fell -8.0% on weaker than expected revenue. and a lower forecast for revenue and EPS in 2019.

EU Markets Flat As Earnings Season Rolls On

European markets were mixed and trading flat as earnings season reaches its peak. The French CAC was the biggest loser in midday trading with a loss near -0.50%. The German DAX was also lower. but its decline was only half that of the CAC. the UK FTSE 100 was able to advance about 0.25%.

On a sector basis, the Autos led the losers with an average decline of -1.0%. Weakness in Chinese data over the past two weeks. and the holiday closure were to blame. Shares of Wirecard. a payment processor, surged 8.0% on word. its employees were cleared of criminal wrong-doing by a law firm hired by Wirecard.

In economic news EU PPI was weaker than expected. The Producer Price Index fell -0.80%. versus an expected -0.7% and points to an accelerated slowing in the EU economy.

US Futures Flat, Big Earnings Expected After The Bell

US futures were mostly flat in the early pre-opening session. The major indices were hugging the 0.00% mark. with microscopic moves over and under that level all morning. The sentiment is generally positive following. a raft of good news in the previous week. but expectations for big earnings after the close of trading kept investors in check.

Topping the list of earnings expected after the closing bell. include Google parent Alphabet, Gilead Life Sciences, and Seagate Technologies. Reports from others have been good. so there is a high expectation for the same today. Earnings from consumer/industrial products company Clorox. were much better than the consensus estimates. and sent shares of its stock up more than 5.0% in early trading.

There is some economic data due out this week. but nothing as important as last week’s blowout non-farm payrolls payroll report. Topping the list is the ISM Manufacturing Report. but it may be overshadowed by what is likely to be a contentious. State-of-the-Union Address on Tuesday.

The post Lunar New Year appeared first on Online Commodity trading.

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The Dollar:

The Dollar : Key stats include November factory orders due out on Monday. Private sector PMI numbers from both the Markit. and ISM surveys on Tuesday. On Wednesday, nonfarm productivity. and unit labor costs for the 4thquarter are due out. Following last week’s jobless claims. labor market numbers will garner more attention. than usual in the week ahead.

4th quarter GDP numbers will also be released during the week. A 30th January’s scheduled release was delayed. due to the extended government shutdown.

The Dollar Spot Index ended the week down 0.56% to $95.794.

  The EUR:

Stats include Spanish unemployment numbers due out on Monday. member service sector PMI numbers. and retail sales figures out of the Eurozone. Economic data due out of Germany includes factory orders. industrial production, and trade figures due out Wednesday through Friday. Of less influence will be inflation figures out of Italy on Monday.

The Pound:

Key economic data due out is limited January construction and service. sector PMI numbers on Monday and Tuesday. We will expect January house price figures to be largely ignored on Thursday. The BoE’s first policy decision of the year. and Brexit chatter will likely to take the spotlight.

The Loonie:

Stats include December trade data due out on Tuesday. housing sector figures and January’s Ivey PMI on Wednesday. and employment figures due out on Friday. Trade figures, the Ivey PMI and employment figures will be the main area of focus. from a data perspective.

The Aussie Dollar:

Key stats include retail sales figures and trade data due out on Tuesday. which will be out ahead of the RBA’s February policy decision. The RBA will also release its statement of monetary policy on Friday. The markets will likely brush aside December building approvals, due out on Monday.

The Japanese Yen:

It’s a relatively quiet week ahead. Key stats are limited to December household spending. and current account figures due out on Friday. While household spending figures will provide some direction. expect market risk sentiment to drive the Yen through the week.

The Kiwi Dollar:

Stats are limited to December building consents due out on Monday. and 4th quarter employment numbers that are scheduled for release on Thursday. Expect the 4th quarter employment numbers to be the key driver on the data front.

Out of China:

There are no material stats scheduled for release. with China on holiday for Chinese New Year for the week. Volumes will be on the lighter.

Geo-Politics

Brexit: We’re onto Plan C, or at least that is the hope. The alternative is a no deal departure. BoE views on what lies ahead could add to the Pound’s troubles this week.

Trump and the State of the Union Speech: The Speech is on Tuesday. Expect some market moving comments.

U.S – China Trade War:  There were no negative updates to hurt the global financial markets. with talks next scheduled to resume in March.

Hua Wei: Will Canada extradite Huawei CFO Wanzhou to the U.S? Expect a political storm and a material impact on any hopes of a trade agreement between the U.S and China should Wanzhou be delivered.

The post This Week Global Event appeared first on Online Commodity trading.

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Toady Piyush Goyal Finance minister (1st February 2019) presented the Union Budget 2019 in  Lok Sabha.  Let’s have a look at the important aspects of Union Budget 2019.

Back ground of Union Budget 2019
  • Piyush Goyal was appointed interim finance minister on January 23. with Arun Jaitley undergoing treatment in the United.
  • This is Modi government’s 6th union Budget and 1st Interim.
  • An Interim Budget usually doesn’t list out new schemes or doesn’t unveil any policy measures.
  • This budget is crucial given that it is taking place months ahead of the Lok Sabha elections. Any major announcement will have major political significance.
  • The Economic Survey 2019 was not The new government. elected after general elections due by May. is expected to present a full budget in July along with the Economic Survey.
Quick Glance of Union Budget 2019
  • Fiscal deficit for 2018/19 seen at 4% of GDP
  • No income tax for income up to ₹5,00,000
  • Poor farmers to get ₹6,000 per year under PM Kisan scheme
  • Standard deduction to be raised from ₹40,000 to ₹50,000
  • Individuals with gross income of up to ₹6.5 lakh will not need to pay any tax. if they make investments in provident funds and prescribed equities
  • Standard tax deduction for salaried persons raised from ₹40,000 to ₹50,000
  • TDS threshold on interest on bank and post office deposits raised from ₹10,000 to ₹40,000
  • TDS threshold on rental income increased from ₹1.8 lakh to ₹2.4 lakh
  • I-T processing of returns to be done in 24 hours
  • Within next 2 years all verification of tax returns will be done electronically. without any interface with the tax payer
  • Package of ₹6000 per annum for farmers with less than 2 hectares of Scheme. will be called Pradhan Mantri Kisan Samman Nidhi.
  • Vande Bharat Express, an indigenously developed semi high speed train, to be launched
  • One lakh digital villages planned in the next five years
  • Fund allocation to Northeast region increased to ₹ 58,166 crore in this year. a 21% rise over last year for infrastructure development
  • Anti-camcord regulations to be introduced in the Indian Cinematograph Act. to prevent piracy and contact theft of Bollywood
  • Single window clearance for Indian filmmakers will be
  • 25 per cent of sourcing for government projects will be from MSME. of which three per cent will be from women
  • National Artificial Intelligence portal to be developed soon
  • The ESI cover limit has been increased to ₹ 21,000. Minimum pension was also increased to ₹ 1000.
  • Mega pension scheme for workers from the organised sector with income of less than ₹15,000. They will be able to earn ₹ 3000 after the age of 60. The scheme will be called PM Shramyogi Maan Dhan Yojana.
  • Unorganised labour to get ₹3,000 per month after age of 60 under mega pension scheme
  • 2% interest subversion for farmers pursuing animal
  • All farmers affected by severe natural calamities will be given interest subversion for the entire period of three per cent of
  • The 22nd AIIMS will come up in Haryana
 Important Highlights of Union Budget 2019
  • All farmers affected by natural disasters to get 2% interest subvention upfront for entire loan period
  • Current account deficit for 2018/19 seen at 5% of GDP
  • Farmers up to 2 hectare of land to come under PM Kisan scheme
  • Government launches mega pension scheme for social security coverage of unorganised labour
  • Fiscal deficit for 2018/19 seen at 4% of GDP
  • Recovered ₹3 lakh crore via bankruptcy code
  • Bank of India, Bank of Maharashtra and Oriental Bank no more under RBI’s prompt corrective action
  • Poor farmers to get ₹6,000 per year under PM Kisan scheme
  • PM Kisan to transfer cash directly to farmers under PM Kisan scheme
  • Poor farmers to get cash in three equal installments under PM Kisan scheme
  • PM Kisan scheme for poor farmers to cost government ₹75,000 crore FY20
  • PM Kisan scheme for poor farmers to get ₹20,000 crore in FY19
  • PM Kisan scheme to transfer cash directly to farmers’ accounts
  • PM Kisan scheme to start transfer of cash with effect from December 2018
  • Government announces Rashriya Gokul Mission to support poor owning cows
  • Rashriya Gokul Mission cow scheme to get ₹750 crore in the current year
  • Central government to alone support PM Kisan scheme
  • All farmers affected by natural disasters to get 2-5% interest subvention
  • Gratuity cap doubled to ₹20 lakh
  • Government to contribute equally in pension accounts under mega pension scheme
  • Unorganised labour to get ₹3,000 per month after age of 60 under mega pension scheme
  • Government to implement mega pension scheme for unorganised labour from this year itself
  • Mega pension scheme is for people with income up to ₹15,000 per month
  • PM mega pension scheme to benefit 10 crore people
  • Total of 8 crore cooking gas cylinders to be distributed by next year under PM Ujwala Yojna
  • Government to contribute 14% under New Pension Scheme
  • India is the second biggest hub for start-ups
  • A National Programme for Artificial Intelligence covering 9 areas to be promoted
  • Government projects to source 25% material from SMEs, 3% from only women-owned SMEs
  • GEM platform to cover all public sector enterprises to promote local industry, trade
  • SME loans with ticket size of ₹1 crore to get 2% interest subvention
  • Defence Budget crosses ₹3 lakh crore mark in FY20 Budget
  • Budgetary support for railways for FY20 is ₹64,587 crore
  • Railways’ operating ratio seen at 2% in FY19, 95% in FY20
  • North-east states to get 21% higher budget allocation at ₹58,166 crore in FY20
  • Will set up 1 lakh digital villages in next 5 years
  • JAN Dhan, Aadhar and mobile have been game changers
  • 34 crore Jan Dhan bank accounts opened in last 5 years
  • Single window clearance to be made available to Indian film makers
  • TV: Railways FY20 capex seen at ₹1.58 lakh crore
  • Direct tax collections estimated at ₹12 lakh crore in FY19
  • Poised to become a $5 trillion economy in 5 years
  • Aspire to become a $10 trillion economy in 8 years
  • ₹1.3 lakh crore undisclosed income brought under tax net
  • 3,38,000 shell companies detected and their directors disqualified
  • Average GST collection ₹97,100 crore
  • Government lays out 10-year roadmap to improve ease of living
  • Making India a pollution-free India in 10-year roadmap
  • To lead world in transport and energy storage devices
  • To bring down dependent on imports for energy needs
  • Roadmap envisions people traveling in electric cars
  • Tenth dimension of government’s India 2030 vision is a healthy governance
  • Fiscal deficit pegged at 4% of GDP for FY20
  • Fifth dimension of government’s India 2030 vision is clean rivers
  • Government to scale up Sagarmala programme
  • Seventh dimension of India 2030 is to lead in space programmes
  • Eighth dimension of India 2030 is to grow food in environment friendly manner
  • Ninth dimension of India 2030 is a healthy India
  • Tenth dimension of India 2030 programme is a comprehensive wellness system
  • FY20 total expenditure seen at ₹27.84 trillion rupees
  • FY20 capital expenditure seen at ₹3,36,292 crore
  • Central schemes to get ₹3,27,679 crore FY20
  • National education mission to get ₹38,572 crore FY20
  • Integrated child development scheme to get ₹27,584 crore FY20
  • SC, ST welfare to get ₹76,800 crore FY20
  • Salary earners, pensioners to get tax benefit
  • Salary earners up to ₹5,00,000 annual income to get full tax rebate
  • No income tax for income up to ₹5,00,000
  • Salary earners of up to ₹6,50,000 income to not pay tax if they make tax related investments
  • Standard deduction to be raised from ₹40,000 to ₹50,000
  • No tax if you own second house
  • No TDS on post office savings up to ₹40,000
  • No TDS on rental income up to ₹2,40,000 per year
  • No tax on notional rent on second house
  • Capital gains tax exemption under Section 54 raised to ₹2 crore
  • Tax on notional rent on unsold inventory to not be paid for 2 years
Sector-Wise Breakdown of the Union Budget Income Tax reliefs
  • No tax till Rs 5 lakh income for individuals tax payers
  • Standard deduction increased to Rs 50,000 from Rs 40,000 for salaried class
Tax  exemptions  on  investments:
  • Individuals with gross income up to 5 lakh rupees will not need to pay any tax if they make investments in provident funds and prescribed equities
  • TDS threshold for home rent increased from Rs 8 lakh to 2.4 lakh
  • Interest income up to Rs 40,000 in post offices and banks made tax free
  • Capital gains tax exemptions under Section 54 to be available up to Rs 2 Capital gains exemption to be available on 2 house properties
  • Income tax relief on notional rent from unsold houses extended to 2 years from 1 year
Other tax related reliefs :
  • Income Tax returns to be processed within 24 hours and returns will be paid immediately
  • Within nearly two years, almost all assessment and verification of IT returns will be done electronically by an anonymised tax system without any intervention by officials
For farmers :
  • Rs 6,000 per year assured income support for small and marginal farmers
  • Farmers having up to 2 hectare of lands will get Rs 6,000 per year in three equal The scheme will be effective from December 1, 2018.
  • Interest subvention for farm loan takers: Farmers affected by natural calamities to get 2% interest subvention and additional 3% interest subvention upon timely repayment
  • 2% interest subvention to farmers who pursue animal husbandry, fisheries jobs through Kisaan credit cards
  • Kamdhenu scheme for animal husbandary
GST :
  • Group of Ministers to suggest ways to reduce GST for house buyers
  • Direct tax collections increased from Rs 38 lakh crore in 2013-14 to almost Rs 12 lakh crore; The tax base is up from Rs 3.79 crore to 6.85 crore
  • Businesses with less than Rs 5 crore annual turnover, comprising over 90% of GST payers, will be allowed to return quarterly returns
  • Indian Customs to fully digitised exim transactions and leveraging RFID for Govt abolishes duties on 36 capital goods
  • GST collections in January 2019 has crossed Rs 1 lakh crore
Sops for workers :
  • Rs 3,000 per year pension for unorganised sector workers
  • New Pradhan Mantri Shram Yogi Maandhan Yojana for unorganised sector workers with income up to Rs 15,000 per Beneficiaries will get Rs 3,000 per month pension with a contribution of Rs 100 per month after the retirement. Govt allocates Rs 500 crore for the scheme
  • Gratuity limit increased for workers to to ₹20 lakh
Rural allocations :
  • Rs 60,000 crore for MNREGA
  • Rs 19,000 allocated for construction of rural roads under Gram Sadak yojana
Defence  Budget  :
  • Govt increases defence budget to over Rs 3 lakh Govt will provide additional funds for Defence, if needed.
  • We have disbursed 35,000 crore rupees under #OROP scheme in the last few years
Railways :
  • Railway’s operating ratio seen 2% in FY19 Vs 95% FY20.
  • Railway capex for FY20 set at record Rs 6 lakh crore
  • Today there is not a single unmanned railway crossing on the broad gauge in
Fiscal Deficit :
  • For FY19, government has revised the fiscal deficit target to 4 percent in FY 19. Fiscal deficit for 2019/20 estimated at 3.4 percent of GDP.
  • Government’s stated commitment earlier was to bring down the fiscal deficit to 1 percent of GDP by the end of March 2020, and to 3 percent by March 2021
  • Current account deficit at 5% of the GDP
  • A single window clearance for filmmakers
  • Nine priority sectors for govt : To build next-gen infrastructure – physical as well as social; (1) To build a Digital India that reaches every citizen; (2) Clean and Green India; (3) Expanding rural industrialization using modern industrial technologies; (4) Clean Rivers – with safe drinking water to all Indians; (5) Oceans and coastlines; (7) India becoming launchpad of the world; (8) Self-sufficiency in food and improving agricultural productivity with emphasis on organic food; (9) Healthy India;

(10) Minimum Government Maximum Governance, with proactive, responsible and friendly bureaucracy

Social schemes:
  • Govt to build 1 lakh digital villages
  • For the welfare of farmers and for doubling their income, historic decision was taken to increase MSP by 5 times the production cost for all 22 crops
  • To ensure cleaner fuel and health assurance, we embarked upon Pradhan Mantri Ujjwala Yojana, a programme to give 8 crore free LPG connections to rural households, 6 crore connections have been given already
  • Committee under NITI Aayog to be set up to for denotifed nomadic & semi nomadic communities
  • A single window clearance for filmmakers to be made available to filmmakers, anti-camcording provision to also to be introduced to Cinematography Act to fight piracy
State of Economy:
  • India is poised to become a $5 trillion economy in next 5 years, $10-trillion economy in the next eight years
  • Black money: Committed to eliminating the scourge of black money; anti-black money measures taken have brought an undisclosed income of about 30 lakh crore rupees to the fore; 3.38 lakh shell companies were deregistered
  • GST has been continuously reduced, resulting in relief of 80,000 crore rupees to consumers; most items of daily use for poor and middle class are now in the 0%-5% tax bracket
  • Fiscal deficit seen at 4 percent in FY 19 and Current account deficit at 2.5% of the GDP
  • We have recovered Rs 3 lakh crore through Insolvency and Bankruptcy Govt expects banks on the central bank’s Prompt Corrective Action list to be removed soon.
  • Indian GDP: Growth in the last 5 years has been higher than that by any other Spent Rs 2.6 lakh crore in recap of PSU Banks
  • Average inflation in UPA government was 10% and we have brought that down that to 4 Inflation in December 2018 was 2.1%. If we had not controlled inflation our families would have been spending 35-40 per cent more on daily use items
  • We conducted transparent auctioning of natural resources like coal and oil
  • Domestic air traffic doubled in the last 5 years
  • Over 90 percent of the country has been covered under sanitation People have made this a social revolution and i thank the 130 people of the country. More than 5.45 lakh villages have been declared Open Defecation Free
  • In the past, false promises were made but we have taken targeted expenditure on all dimensions
  • Everybody will get electricity connection in the near We have provided 143 crore electricity bulb to the poor
  • Ayushman Bharat the world’s largest healthcare programme was launched to provide medical care to almost 50 crore people, resulting in 3,000 crore savings by poor families
  • Lower costs of Stents & Knee implants have benefitted Government has announced 14 new AIIMS since 2014
  • Loans worth Rs 23 lakh crore have been given under Mudra Yojana
  • Monthly mobile data consumption has increased 50x in last 5 years; cost of data & voice calls in India is possible the lowest in the world

The post The Union Budget 2019 Highlight appeared first on Online Commodity trading.

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Market Trend : U.S. Treasury yields dropped on Wednesday. setting off a wave of activity in the commodity and financial markets. after the Federal Reserve signaled to some investors .that it may slow the pace of interest rate increases in 2019. Fed policymakers left the benchmark overnight lending rate unchanged. between a range of 2.25 percent and 2.50 percent at their January meeting.

In the cash market, 2-year U.S. Treasury Notes settled at 2.512 percent. Down 0.014 percent, 5-year Treasury Notes. settled at 2.490 percent, down 0.015 percent. and the benchmark 10-year Treasury Notes finished at 2.681 percent down 0.014 percent. The yield on the 30-year Treasury bond was mostly unchanged at 3.054 percent.

Yields were pressured after Fed policymakers said the central bank. Would be patient when making decisions about future monetary policy. The Fed also removed references to “further gradual increases”. to the federal funds rate in its monetary policy.

It Starts with Treasury Yields then Moves to the U.S. Dollar

The drop in U.S. Treasury yields helped make. the U.S. Dollar a less-attractive investment sending the major currencies sharply higher. After the Fed statement and Powell’s remarks. the futures markets continued to price in no further tightening. while indicating a small chance for a rate cut over the next year.

March U.S. Dollar Index futures settled at 95.031, down 0.485 or -0.51%.

Earlier in the session. the index was boosted by stronger-than-expected private sector jobs data for January. Payrolls processor ADP reported that the U.S. private sector added 213,000 jobs in January. That beat forecasts for gains of 178,000. but the monthly total came in lower than job gains of 271,000 in December.

Gold Was Ahead of the News

The reaction in the gold market to the Fed news wasn’t. as pronounced as the rally in stocks or currencies. Although the Fed was reassuringly dovish. it wasn’t hugely unexpected by gold investors. who started the ball rolling last Friday with a strong surge to the upside.

April Comex gold reached its highest level since June 14. rallying as much as $13.40 on an intraday basis. it only managed to finish at $1315.50, up $0.30 or +0.02%.

The price action suggests investors had priced in the dovish Fed news. but the buying wasn’t strong enough to overcome. the increased demand for risky assets.

The post U.S. Treasury yields dropped appeared first on Online Commodity trading.

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Stocks fell in European trading Wednesday. After gains in much of Asia, as investors digested U.S. President Donald Trump’s State of the Union address to Congress.

While the address raised no new concerns. Trump reiterated his determination to protect American jobs. and get China to make structural changes to its economy. to help curb its trade surplus with the U.S.

British Prime Minister Theresa May was due to meet with major political parties. in Northern Ireland in a bid to end an impasse over her proposal. for Britain’s departure from the European Union.

Germany’s DAX dropped 0.3 percent to 11,330 and the FTSE 100 in Britain lost 0.2 percent to 7,162. The CAC 40 in France slipped 0.2 percent to 5,075.

Wall Street looked likely to get a slow start. with the future contract for the Dow Jones Industrial Average down 0.1 percent at 25,288.00. that for the S&P 500 also down 0.1 percent, at 2,727.25.

Asian benchmarks were higher. though most regional markets remained closed for the lunar new year holidays.

Japan’s Nikkei 225 index gained 0.1 percent to 20,874.06. Australia’s S&P ASX 200 rose 0.3 percent, helped by buying of banks’ shares, to 6,026.10, while the Sensex in India jumped 1.0 percent to 36,975.23. Markets in Hong Kong, mainland China and most of Southeast Asia were closed for lunar new year holidays.

CHINA-US TRADE:

Positive sentiment was supported by reports from Washington. citing unnamed sources, that say U.S. Trade Representative Robert Lighthizer. and Treasury Secretary Stephen Mnuchin plan to travel to Beijing. next week for the next round of talks aimed at resolving trade and technology. related disputes that have led to both sides imposing tariffs on billions of dollars’ worth of each other’s products.

ENERGY: U.S. crude oil lost 62 cents to $53.04 per barrel in electronic trading. on the New York Mercantile Exchange. It fell 1.6 percent to settle at $53.66 per barrel on Tuesday. Brent crude, used to price international oils, gave up 70 cents to $61.28 per barrel. It slid 0.8 percent to close at $61.98 per barrel in London.

CURRENCIES: The dollar slipped to 109.65 yen from 109.96 yen on Tuesday. The euro weakened versus the dollar to $1.1395 from $1.1405.

(Note- Above all information are taken from various sources, Alice Blue Commodity are not responsible for any miss information)

The post Trump’s State Of Union Speech Market Mixed on Thursday appeared first on Online Commodity trading.

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Asian Shares Make Higher : Asia following a rally on Wall Street led by technology companies. There was little if any immediate reaction to President Donald Trump’s State of the Union address.

Japan’s Nikkei 225 index gained 0.4 percent to 20,921.05 early Wednesday. Australia’s S&P ASX 200 also climbed 0.4 percent. helped by buying of banks’ shares, to 6,030.90. Markets in Hong Kong, mainland China and most of Southeast Asia were closed for lunar new year holidays.

The overnight rally in U.S. markets, supported by strong corporate earnings. extended the benchmark S&P 500 index’s winning streak to five days.

More than 68 percent of companies reporting earnings in the S&P 500. beat analyst forecasts during the most recent quarter. Those results, in part, helped drive the market’s best January in 32 years.

CHINA-US TRADE:

Positive sentiment has been supported by reports from Washington. citing unnamed sources, that say U.S. Trade Representative Robert Lighthizer. and Treasury Secretary Stephen Mnuchin plan to travel to Beijing next week. for the next round of talks aimed at resolving trade and technology-related. disputes that have led to both sides imposing tariffs on billions of dollars’ worth of each other’s products.

WALL STREET: The S&P 500 index added 0.5 percent to 2,737.70. The Dow Jones Industrial Average gained 0.7 percent to 25,411.52. The tech-heavy Nasdaq composite added 0.7 percent to 7,402.08 and the Russell 2000 index of smaller companies picked up 0.2 percent, to 1,520.23.

ENERGY: U.S. crude oil added 7 cents to $53.73 per barrel in electronic trading on the New York Mercantile Exchange. It fell 1.6 percent to settle at $53.66 per barrel on Tuesday. Brent crude, used to price international oils, picked up 4 cents to $62.02 per barrel. It slid 0.8 percent to close at $61.98 per barrel in London.

CURRENCIES: The dollar slipped to 109.80 yen from 109.96 yen on Tuesday. The euro weakened versus the dollar to $1.1399 from $1.1405.

(Note- Above all information are taken from various sources, Alice Blue Commodity are not responsible for any miss information)

The post Technology Companies Led Asian Shares Make Higher appeared first on Online Commodity trading.

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World markets were mixed Monday. amid speculation over the next steps in a dispute between the U.S. and China over technology development. and trade following meetings in Washington last week.

American and Chinese negotiators ended two days of talks in Washington. last week without word of a deal. though those involved — including U.S. President Donald Trump — were optimistic about the road ahead.

Trump said he plans to meet his Chinese counterpart Xi Jinping to sort out contentious issues. “I think when Xi and I meet, every point will be agreed to.” Trump said, without specifying a date or location.

A tariffs cease-fire between the U.S. and China is set to end on March 2. and the U.S. is expected to raise import taxes from 10 percent to 25 percent. for $200 billion in Chinese goods.

“There is rising optimism on the trade talks between the U.S. and China. although no details have been nailed down. The upside is limited as President Trump also mentioned that. if the talks are not successful a new round of tariffs is imminent.” Alfonso Esparza, senior market analyst at OANDA, said in a commentary.

Global Market Changes On Monday

Germany’s DAX lost about 0.1 percent to 11,171.50. and the CAC 40 in France fell 0.3 percent to 5,001.13. Britain’s FTSE 100 was about 0.3 percent higher at 7,042.77 as traders awaited. Prime Minister Theresa May’s trip to later this week to Brussels. where she will attempt to renegotiate a deal securing. Britain’s exit from the European Union on March 29. The future contract for the Dow Jones Industrial Average edged 0.1 percent higher. to 25,015.00 and that for the S&P 500 index. also added 0.1 percent to 2,706.00.

Monday IN ASIA:

Hong Kong’s Hang Seng index edged 0.2 percent higher to 27,990.21. Japan’s Nikkei 225 index advanced 0.5 percent to 20,883.77. and Australia’s S&P ASX 200 gained 0.5 percent to 5,891.20. New Zealand’s NZX index shed 0.2 percent to 9,747.69. India’s Sensex was down 0.1 percent at 36,454.38. Shares rose in Thailand but fell in Singapore, Indonesia and the Philippines. Markets in mainland China and Taiwan are closed for the week for Lunar New Year celebrations. South Korean markets were closed for a holiday.

CHINESE DATA: A private survey released on Sunday suggested that China’s services activity slowed in January. The Caixin services purchasing managers’ index fell to 53.6 points for the month, down from 53.9 in December, likely due to domestic conditions. Numbers over 50 indicate expansion on the index’s 100-point scale. But new export sales grew at the fastest pace in more than a year, in a nod to an easing trade standoff with the U.S.

ENERGY:

Benchmark U.S. crude rose 8 cents to $55.34 per barrel in electronic trading on the New York Mercantile Exchange. It added $1.47 to settle at $55.26 per barrel on Friday. Brent crude, used to price international oils, was up 31 cents at $63.06 per barrel. The contract gained $1.91 to $62.75 per barrel in London.

CURRENCIES: The dollar strengthened to 109.87 yen from 109.50 yen late Friday. The euro was up slightly $1.1450. The British pound was trading at $1.3056, down from $1.3082.

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World Stocks Down Ahead:  World markets edged lower on Friday ahead of the monthly U.S. jobs report. and after the U.S.-China trade talks yielded few immediate results.

Germany’s DAX fell 0.2 percent to 11,153 and France’s CAC 40 fell almost 0.1 percent to 4,991. Britain’s FTSE 100 advanced 0.1 percent to 6,978. Wall Street was set for a quiet open. The future contract for the Dow Jones Industrial Average was flat. while the S&P 500 futures shed 0.1 percent.

THE DAY IN ASIA:

Hong Kong’s Hang Seng index was flat at 27,930.74. while the Shanghai Composite index jumped 1.3 percent to 2,618.23. Japan’s Nikkei 225 index rose less than 0.1 percent to 20,788.39. after the country’s unemployment rate unexpectedly fell to 2.4 percent in December from 2.5 percent the month before. South Korea’s Kospi was down 0.1 percent at 2,203.46. Australia’s S&P ASX 200 edged 0.1 percent lower to 5,862.80. Shares rose in the Philippines and Thailand but fell in Singapore. Markets in Taiwan were closed.

CHINA-U.S. TALKS:

American and Chinese negotiators wrapped up two days of talks. Thursday without a deal but with an upbeat outlook. Presidents Donald Trump said China has agreed to buy more American soybeans. but he expects to meet President Xi Jinping to seek agreement on other contentious issues. “There are some points we don’t agree to, but we will agree,” Trump said. “I think when Xi and I meet, every point will be agreed to.” A tariffs cease-fire between the U.S. and China is set to end on March 2. and the U.S. is expected to raise import taxes. from 10 percent to 25 percent for $200 billion in Chinese goods.

MANUFACTURING DATA:

A private survey suggested manufacturing in China slowed in January. China’s Caixin Manufacturing PMI was 48.3 points in January. down from 49.7 in December. This was its lowest reading since February 2016. Readings below 50 indicate contraction on the index’s 100-point scale. Similar surveys were downbeat also for Britain. where companies are suffering from the uncertainty over Brexit, and in the eurozone.

ANALYST’S TAKE:

“The terrible decline in the Caixin PMI index … shows just how important it is for China and the U.S. to secure a trade deal. If nothing else. a deal should prevent the near-term imposition of higher tariffs.” Robert Carnell of ING Bank said in commentary.

U.S. JOBS DATA:

Traders are awaiting the release of jobs data later Friday. The Labor Department’s monthly employment report will likely show that U.S. employers added a good amount of jobs in January, despite a partial shutdown of the government and concerns about global growth. According to data provider FactSet, analysts expect 165,000 jobs to be added and the unemployment rate to remain at a low 3.9 percent.

ENERGY:

Benchmark U.S. crude dropped 2 cents to $53.77 per barrel in electronic trading on the New York Mercantile Exchange. It lost 44 cents to settle at $53.79 per barrel on Thursday. Brent crude, used to price international oils, rose 25 cents to $61.90 per barrel. The contract dropped 70 cents to $60.84 per barrel in London.

CURRENCIES:

The dollar strengthened slightly to 108.91 yen from 108.89 yen late Thursday. The euro rose to $1.1468 from $1.1445.

The post World Stocks Down Ahead Of US Jobs Report appeared first on Online Commodity trading.

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Wall Street got its mojo back in January after finishing 2018 with its worst December since 1931.

Stocks finished higher Thursday, closing out the month with the best gain for the S&P 500 index since October 2015.

A series of strong corporate earnings helped power the month long rally, which followed a dismal December that nearly brought the benchmark index into a bear market, meaning a decline of 20 percent from a recent peak.

Facebook helped drive the market higher on Thursday after reporting solid user metrics. Charter Communications soared after its revenue came in ahead of forecasts. General Electric also climbed. Amazon reported earnings after the close of regular trading that topped Wall Street’s forecasts.

Homebuilders surged following new data showing sales of new U.S. homes soared in November.

Strong results and outlooks from big U.S. companies seem to be calming some of the fears investors had that a recession might be looming.

“Overall, we’re still encouraged that this earning season is comforting to people,” said Ryan Detrick, senior market strategist at LPL Financial.

The S&P 500 index rose 23.05 points, or 0.9 percent, to 2,704.10. It rose 7.9 percent in January. In December, it tumbled 9.2 percent.

The Dow Jones Industrial Average fell 15.19 points, or 0.1 percent, to 24,999.67. The Nasdaq composite climbed 98.66 points, or 1.4 percent, to 7,281.74. The Russell 2000 index of smaller companies picked up 12.48 points, or 0.8 percent, to 1,499.42.

Communications, health care and consumer goods and services stocks powered Thursday’s market gain as investors remained focused on corporate earnings, which have been mixed.

Facebook beat Wall Street’s profit and revenue forecasts, despite an increase in spending on privacy and security. Its user base grew to 2.32 billion, up 9 percent from a year earlier and higher than analysts’ forecasts. The stock gained 10.8 percent to $166.69.

General Electric reported mixed results for the fourth quarter, but revenue and profit were still higher across most of its segments. The industrial conglomerate has been cutting costs and spinning off units for years in a bid to boost its bottom line. The stock climbed 11.6 percent to $10.16.

Microsoft fell 1.8 percent to $104.43 after the technology company swung to a profit in its latest quarter, driven by revenue growth at its cloud-computing platform. The results beat forecasts, but the company’s key personal computing segment fell short of estimates.

Homebuilders climbed on new data showing sales of newly built homes soared in November. The Commerce Department said new home sales jumped 16.9 percent in November from the previous month. Despite the healthy gain, sales remain 7.7 percent below the pace from a year earlier. The report was delayed by the 35-day government shutdown. Meritage Homes led the pack, vaulting 10.1 percent to $45.08.

Concerns over the ongoing U.S.-China trade conflict, uncertainty over the path of interest rates and signs of a weakening global economy helped knock the market into a steep slump in December. While concerns over trade and a slowing economy remain, corporate earnings have put investors in a buying mood. And this week, the Federal Reserve sent a strong signal to the markets that it is in no hurry to raise interest rates in coming months, another confidence boost for the market.

Trade talks between the U.S. and China entered a second day Thursday. President Donald Trump voiced optimism before meeting with representatives from China, but noted there would be “no final deal” until he sits down with Chinese President Xi Jinping.

Among the biggest gainers in January were Xerox and Celgene, which climbed 42.8 percent and 38 percent, respectively. General Electric also turned in a big January gain: 34.2 percent.

Boeing notched the biggest January gain in the 30-company Dow, rising 19.6 percent.

U.S. crude oil fell 0.8 percent to settle at $53.79 per barrel in New York. Brent crude, used to price international oils, added 0.4 percent to close at $61.89 per barrel in London.

Bond prices rose. The yield on the 10-year Treasury fell to 2.64 percent from 2.69 percent late Wednesday.

The dollar fell to 108.66 yen from 108.92 yen on Wednesday. The euro weakened versus the dollar to $1.1479 from $1.1492.

Gold rose 0.7 percent to $1,319.70 an ounce. Silver added 0.9 percent to $16.07 an ounce. Copper gained 0.6 percent to $2.78 a pound.

In other energy futures trading, wholesale gasoline fell 1.4 percent to $1.36 a gallon. Heating oil slid 1 percent to $1.88 a gallon. Natural gas dropped 1.4 percent to $2.81 per 1,000 cubic feet.

The post Wall Street got its back in January after finishing 2018 appeared first on Online Commodity trading.

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The major Asian stock indexes are trading lower on Tuesday. Amid renewed US-China tensions. Concerns are being raised after the U.S. Department filed criminal charges on Monday. to officially request the extradition of Meng Wanzhou. The chief financial officer of Chinese telecommunications giant Huawei. Fresh concerns over China’s economy were also at the forefront on Monday. following a sharp break in U.S. equity markets. after bellwether companies Caterpillar and Nvidia issued weak guidance.

At 0345 GMT, China’s Shanghai Index is trading 2583.94, down 13.04 or -0.50%. Hong Kong’s Hang Seng is at 27437.94. Down 139.02 or -0.50% and South Korea’s KOSPI Index. is at 2170.28, down 7.02 or -0.32%.

In Japan, the NIKKEI Index is at 20448.47, down 200.53 or -0.97% and Australia’s ASX 200 Index is at 5877.40, down 28.20 or -0.48%.

U.S. Department of Justice Seeks Extradition of Huawei CFO

The Justice Department filed criminal charges. on Monday to officially request the extradition of Meng Wanzhou. The CFO of Chinese telecommunications giant Huawei. The Justice Department also announced charges against Huawei. for allegedly stealing trade secrets from T-Mobile.

“Huawei and its senior executives repeatedly refused to respect U.S. law. said FBI Director Christopher Wray. In Monday’s press conference. “Huawei … systematically sought to steal valuable trade secrets.”

Stock investors are particularly disturbed by the timing of the charges. since they come right before the start of crucial high level trade talks. between the United States and China in Washington on January 30-31. Although experts don’t believe that this incident can be tied. directly to trade negotiations since the investigation likely began. long before the start of the trade dispute.

New Concerns Over China’s Economy

Last week, traders showed a muted reaction to the weaker Chinese GDP numbers. and the International Monetary Fund’s (IMF). warning about the slowing global economy. However, the weakness in China’s economy finally hit home. on Monday when Caterpillar reported weaker-than-expected. earnings for the fourth quarter. The bellwether company cited lower demand in China. for its decline in sales in the Asia/Pacific region.

Meanwhile, chipmaker Nvidia. slashed its fourth-quarter revenue guidance to $2.2 billion from $2.7 billion. It said in its report that “deteriorating macroeconomic conditions. Particularly in China,” impacted demand for its graphics processing units.

The decline in Nvidia also spread to other chipmakers. Advanced Micro Devices dropped 8 percent while Micron slipped 2.3 percent. The VanEck Vectors Semiconductor ETF (SMH) dropped nearly 2 percent.

The post US-China Trade Tensions effect on Asian Markets appeared first on Online Commodity trading.

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