US Index Futures fell and Asian shares toppled on Thursday after a revenue warning from Apple on its Q1 results adds to fears of slowing global growth. Dow futures point to a decline of over 400 points at the open.
The Dow is currently trading at 23015, the S&P at 2476 and the Nasdaq at 6211.
MSCI's Index of Asia-Pacific shares excluding Japan dropped 0.6%, whilst the Nikkei futures fell 2.2%.
The news from Apple sparked a 'flash crash' in the currency markets, sendi
FAANG stocks have now shed more than $1 trillion in market value since recent highs, whilst Target leads the fall in retail as its shares dropped 10.5% yesterday after posting worse than expected earnings figures.
The Nasdaq ended the day down 1.7%, whilst the S&P was down 1.8%. The Dow Jones dropped 550 points to close on Tuesday, erasing this year’s gains as it moved into negative territory.
Asian stocks slipped on Wednesday as intensifying fears on global economic growth and
This blog post is to update everyone of the themes that DailyFX expects to focus on in the week ahead. Given the focus of previous weeks, the backdrop market conditions and the event risk ahead; the three topics below will be particularly important in our coverage.
Risk trends amid trade wars
If you somehow were in doubt that trade wars were already underway, the enactment of reciprocal $34 billion tariffs by the United States and China on each other this past week should banish that
Turkey: Financial markets regained their cool overnight, returning to some semblance of normal trading conditions. Traders appear a little more comfortable with the Turkey situation, apparently reassured by the idea that developed economies and financial markets are shielded from the direr consequences of a Turkish borne financial crisis. The core issue is unlikely to disappear entirely, given hostilities between the US and Turkey have only escalated in recent days. Moreover, global fundamentals
The three main American indices: the Dow, the S&P and the NASDAQ all rose over 4% on boxing day following the Dow’s worst Christmas eve ever.
Asian markets followed the trend with the Nikkei also raising 4%
Oil saw its largest daily gain since 2016 with an 8% rally. Oil related companies in Australia also climbed on the price increase.
The dollar basket rose almost 0.6% in the main session but finished the day with a strong gain of 0.29%
Huawei concerns deepen as
Risk Trends – Monitor Liquidity Closely
Sentiment is turning increasingly septic across the financial markets. This past week certainly wasn’t the first week that signs of trouble were starting to show. However, a clear capitulation by one of the favorite benchmarks of hold-out bulls – US indices – has undermined one of the few reliable backstops left. The S&P 500 and Dow have been in retreat through much of October after hitting their respective record highs. Up until this past week,
Brexit draft has been backed up by the cabinet where Theresa May will announce a speech on Thursday to the Parliament, however, there are assumptions that this could end with a vote of no confidence
China delivering a written response to the US demands for wide-ranging trade reforms, which could potentially end the trade war between the two countries
Bitcoin market capitalisation declines to its lowest level since October 2017, falling to under $100billion. Ethereum and XRP also d
Global equity markets falter on trade war talk.
Turkish lira gains on a presidential win for Recap Tayyip Erdogan.
Oil sheds it's gains as OPEC agree on output hike.
Saudi Arabia lifts the ban on female drivers which could generate up to $90bn for their economy according to Bloomberg Finance
Britain sees its two year anniversary from the Brexit referendum vote. GBP down 11% in that time helping buoy the FTSE and companies who generate the majority of their revenue fro
Poor EoY results helped pushed the FTSE lower yesterday as miners sold off, whilst the White House threat for further Chinese tariffs had a negative impact on the S&P energy and industrial sector which also suffered.
In the US the Fed decided to hold rates ahead of a likely September hike. Range remains in the 1.75 to 2 per cent channel.
According to a US trade representative, the refusal of China to meet US demands, along with implementation of retaliatory tariffs on US goods
US equities rallied late on Thursday to close higher in a wild session which saw the Dow finishing 1.1% up, after initially falling over 500 points earlier in the day. The S&P and Nasdaq also fell 2.8% and 3.3% respectively, but both ended in positive territory after the late surge.
Donald Trump is said to be considering an executive order which will ban US firms from using equipment built by Chinese companies ZTE and Huawei, according to a Reuters report.
Overall, European mar
The Trump house looks to impose 10% tariffs on $200 bln of Chinese goods.
Shanghai and Hong Kong equity markets drag down the wider overnight Asian session.
The bidding war on Sky continues with Murdoch's Fox offering £14/share beating Comcasts previous £12.50.
Copper and zinc slide to 1-year low, oil also sharply lower on trade war fears.
Asian overnight: Asian markets were back in the red overnight, as Donald Trump has once again ramped up trade war fears, driving aw
Fed hints that future interest rate rises may be lower than anticipated. Whilst Wall Street saw it's 5th biggest daily increase Asian stocks also gained as a result, the Nikkei saw a 0.9% increase whilst SoftBank rose over 3% and Nintendo a further 4%.
Trump announced yesterday that he is exploring new auto tariffs with a view to promote domestic production. This comes as part of an ongoing Trump Administration tariff war.
Georgia elects first female president. Salome Zurabishvili
Rout over? There are tentative signs that the global equity rout witnessed last week has subsided, at least for now. The tone shifted during Asian trade on Friday, and despite a weak day for European markets, Wall Street ended the week on a positive note, led by a bounce in the major tech stocks. It’s not to say that there isn’t the risk that this sell-off may not continue at some stage this week: in fact, futures markets are indicating a sluggish start for Asia today. More to the point, the fun
Deutsche Bank has kicked off the banking season in Europe today as the bank announced a net profit of €229 million, with analysts expecting a profit of €149 million, as the investment bank branch loses ground. Barclays has followed by beating expectations as net income came in at £1 billion vs. £723 million expected, Jes Staley announced he is "very pleased" with the Q3 results.
The EU continues to mount pressure on the Italian government as Valdis Domborvskis, vice-president of the Europ
Trade war worries offset the gains seen in Wall Street with the Asian equity market struggling overnight.
The trillion dollar valuation race between Apple and Amazon continues with Amazon tipping the $900bn valuation yesterday.
GBP continues to take a beating against major world currencies as CPI data yesterday remained unchanged, reducing the likelihood of a rate hike in August.
US banking shares continue to do good in earning season as Morgan Stanley profit jump.
Chinese markets hit with yuan slipping to 6 month low and stock market and leading index falling.
Oil sees significant positive price action as US pressures allies on Iranian crude oil.
Trump hits out at Harley Davidson motorcycles for planning a move of U.S shores on the back of trade tariffs. 'Trading the trade wars' video by IGTV and Bryan Noble is today's featured video below.
Gold slips as investors turn to rival safe haven assets.
Bitcoin and cryptocurrency cons
Developments have been made in the US-China trade war with Trump announcing ‘substantial progress’ has been made by both sides resulting in the hike on Chinese imports being delayed.
Theresa May is set to meet world leaders in Egypt later today. Yesterday she announced there will be a new vote on her deal by the 12th of March but has faced criticism that this is just 17 days before the deadline.
Asian markets have rallied on the back of the trade war announcement, with the Shanghai
Theresa May continues to back her Brexit deal despite deep divisions in her party, 16 members of which have openly called for a vote of no confidence in the Prime Minister
Brexit draft agreement led to several resignations including Brexit Secretary Dominic Raab and cabinet minister Esther McVey
The GBP fell 1.7% against the dollar and 1.9% against the Euro yesterday, the lowest in over two weeks. However, this morning has seen a slight rally
The Trump administration are rep
Asian market bounced a little on Wednesday morning on continued trade war talks. In the Chinese markets regulators sought to calm the markets.
Those with large Chinese export books such as Boeing and machinery manufacturers Caterpillar were hit the hardest with Trump's threat of further tariffs. These may be ones to watch going forward as the trade war unfolds.
The ‘big four’ accounting scandal continues with internal report from a Lloyd’s bank employee detailing allegations of mis
Positioning Extremes Grow More Extreme
There are a few undisputable and universal forces when it comes to the financial markets. One of those all-powerful winds is the concept of risk trends which is referred to by many names such as ‘risk on, risk off’ or referenced unknowingly when we blindly attribute market wide movement to animal spirits through technical cues, smart versus dumb money, panic to greed. Another of these truisms is the allocation of capital. While total wealth does grow
Despite announcing a loss of 4 cents per share Snap shares soared in after-hours trading as the social media giant beat analysts expectations, the general consensus was that the company would report a net loss of 8 cents per share in Q4.
Disney also beat expectations aided by the launch of its streaming service ESPN+ and sales increases in its theme park businesses, earning per share came in at $1.84 vs $1.55 expected.
The Dow rose by 172 points, followed by a 0.47% increase in th
Asian stocks generally up on hopes trade tensions may ease.
Hopes of a China - US trade resolution pushed up copper, often seen as a barometer for the economic outlook, dragging behind it miners such as BHP Billiton and Glencore.
Venezuela have debased their currency taking off five zeros, along with increase minimum wage by 3000% in and effort to prop up their economy.
Yesterday the world trade organisation confirmed that Turkey had lodged a trade dispute against the US.
As MPs prepare to vote on amendments to the Brexit Plan, Theresa May has set the 13th of Feb as the date to hold a second round of voting on her Brexit deal.
Apple is set to release its Q4 earnings after market close today. According to Zacks Investment Research, the EPS is expected to be $4.17, an increase of 7% YoY. This will be a crucial earnings report for Apple, as it pre-announced its December results on January 2nd, lowering revenue expectations by 8%, and blaming the slowdown on w
Amazon announced a rise in investments, causing shares to fall over 5 percent , however beats earnings per share expectations and revenue, reporting $6.04 per share in comparison to an estimate of $5.68 per share and a revenue of $72.4billion versus %71.9billion.
Caxin Manufacturing PMI falls below expectations to 48.3 in January in comparison to 49.7 in December, its lowest reading since 2016
Stocks in Asia mostly traded higher, with the Shanghai Composite increasing around 1.3 pe
Weeks Left of Liquidity, A Laundry List of Unresolved Fundamental Threats
We have officially closed out November Friday and we are now heading into the final month of the trading year. Historically, December is one of the most reserved months of the calendar year with strong positive returns for benchmark risk assets like the S&P 500 along with a sharp drop in volume and significant drop in traditional volatility measures (like the VIX index). There is a natural, structural reason for t
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