Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations
Back to a positive trend in New York, the Dow Jones rises 0.7%, the Nasdaq adds 0.4%, and the S&P 500 jumps 0.7%.
stock Zoom falling 5.8% after releasing disappointing reports earlier today. The retailer’s stock bSet Bay which also released its financial statements today, jumps 11.6%, after beating forecasts.
In the crypto market, the bitcoin currency has risen by 1% in the last day, and is trading for 16 thousand dollars per unit. Looking weekly, the currency is still down 4.7%.
Ether also increased in the last day by 1.5%, and traded for 1,130 thousand dollars per currency. But on a weekly basis, the currency is down 10.6%.
● For the first time since its issuance: the largest crypto exchange in the US is worth less than $10 billion
● The crypto exchange FTX purchased luxury real estate worth 121 million dollars for the founder’s parents
After a positive opening, New York trading moved into a mixed trend. The Nasdaq is now down 0.3%, while the S&P 500 continues its rise of 0.3%, and the Dow Jones is up 0.6%.
European stock markets returned to a positive trend. Dax is up 0.4%, FTSE is up 1%, and the KAC adds 0.4%.
The stock market in New York opened with slight gains. The Dow rose 0.6% at the open, the S&P added 0.5%, and the Nasdaq opened up 0.3%.
Today the quarterly reports of the retailers will be published Best Buy andFresh dollar the computer company HP and company Nordstrom .
stock Teva USA a subsidiary of Teva Pharmaceutical Industries Ltd. rises 4% in early trading in New York after announcing today that it has reached an agreement on a proposed statewide settlement regarding painkillers in the US with the states’ legal advisors and representatives of the plaintiffs. The Allergan Company has completed also the terms of its state-wide settlement. As the company announced in the third quarter, Teva and Allergan concluded the indemnification terms between them. Now the accession procedure will begin within which the countries can join the state-wide settlement.
Slight increases are recorded in futures trading on US stock market indices.
stock Best Buy Jumps about 7% in early trading after the electronics chain posted good reports for the last quarter.
on the other hand, Fresh dollar Drops by about 4% after the company published a weak forecast for the fourth quarter of the year.
Mixed trend in European stock markets now. Trading in futures contracts on US stock market indices also shows a mixed trend.
In the early trading, increases in stocks are recorded Tesla Netflix andAmazon . Microsoft registers a slight decrease.
Zoom Drops by about 9% in early trading in New York after the company last night published good reports for the third quarter, but warned of damage to revenues in the current quarter.
Increases of up to 0.9% in European stock markets. Slight increases are recorded in futures trading on US stock market indices.
In their weekly review, Blackrock economists note that “Our strategic outlook for the next 5 years is positioned in accordance with the new economic regime of greater macro volatility in the market. We are overweight investment-rated credit in companies with healthy balance sheets that can withstand the mild recession we expect, and maintain a modest overweight in stocks in the developed market. In general, we expect that the total return of stocks in the coming decade will be greater than fixed income assets, even if stocks experience severe declines in the near term. Currently we prefer short-term government bonds because they are not affected by the desires of investors who demand a long-term premium like in long-term bonds. Our modest overweight in developed market stocks stems from the assumption that central banks will live with inflation, to maintain a mild recession and fair long-term valuations.”
“We remain overweight in inflation-linked bonds because we expect continued inflation – and still like long-term linked bonds, as we think the new regime of production constraints will continue. For next year, stocks still do not fully reflect recession expectations and the impact on corporate profits , and that is why we are underweight from a tactical point of view.”
Bitcoin fell to a more than two-year low in Asian trading as investors drove down most cryptocurrency prices on concerns that the collapse of cryptocurrency exchange FTX.com on Nov. 11 could bankrupt other businesses exposed to the platform.
Bitcoin fell as low as $15,599 and is now trading at $15,739. It is at prices last seen in September 2020, or before the 2021 bull run when it hit a high of US$68,000. It is now down about 77% from that high.
Ethereum also fell below the $1,100 level and hit a five-month low of $1,084. Now its price stands at $1,089
The trading day in European stock markets opened with a mixed trend. The Dax index registers a slight decrease, and the Potsi rises by 0.5%.
Trading in futures contracts on US stock market indices shows stability with a downward trend.
In Asia, the Nikkei index in Tokyo closed up 0.6%, while in Hong Kong the Hang Seng index fell by about 1.3%. Shanghai rose about 0.1%
Asian stock markets are trading today in a mixed trend. The Nikkei index in Tokyo climbs by 0.7%, while in Hong Kong the Hang Seng index falls by about 0.7%. Shanghai is up by about 0.8%, Australia is up by 0.6%, and the Kospi index in Seoul is down by about 0.4%.
● The Nasdaq has already lost almost 30% this year. Is it still at too high a level?
● Giant companies threaten to move from Europe to the US: is this the beginning of a trade war?
In the commodity trading sector, oil contracts registered slight increases after yesterday falling more than 5% during trading, after the “Wall Street Journal” reported that OPEC Plus policies are considering increasing output by about 500,000 barrels per day. News Agency of Saudi Arabia announced that such a step is not being considered in the kingdom, and at the end of trading oil contracts recorded slight declines.
The global macro arena will be relatively sparse today, with no significant data releases.
Strong declines were recorded in the crypto market yesterday. Bitcoin fell during trading by more than 5% and reached the level of $15,650, and Ethereum fell by 8% and traded around $1,080. Now Bitcoin is trading around $15,800, and Ethereum around $1,100.
Trading on Wall Street closed last night with declines: the Dow Jones index recorded a decrease of about 0.1%, and the Nasdaq index retreated by about 1.1%. Tesla fell by 6.8%, Apple by 2.2%, Lemonade by 6.1%, Faber by 5.8%, and Riskypaid by 4.1%. On the other hand, Disney jumped by 6.3%.
Trading in futures contracts on US stock market indices is now stable.
The forex market is also calm. The euro is trading stably around 1.025 dollars per euro, the pound is strengthening by about 0.1% around 1.183 dollars per pound, and the Japanese yen is strengthening by 0.15% and is trading around 142 yen per dollar.
We will remind you that on Thursday there will be no trading in New York on the occasion of Thanksgiving. On Wednesday evening, the minutes from the last Federal Reserve meeting will be published, during which the interest rate in the US was raised by 0.75% for the fourth time in a row (and the sixth increase in a row since March).