Dow -60 S&P -5 NASDAQ -13 - Equities opened lower this morning despite news Warren Buffet's Berkshire Hathaway was undertaking the largest buyout in the company's history. That along with the modest rise in factory orders was not enough to offset jitters from Europe, where leading UK banks Lloyds and RBS outlined ongoing restructuring plans and UBS reported disappointing results. In addition, Johnson & Johnson said it would cut up to 7% of its global workforce in an effort to dig up more cost savings. Gold pushed out to fresh all-time highs after India bought $6.7B of the yellow metal from the IMF. Indian officials insisted the move did not signal less confidence in the greenback. Front-month crude dipped below $77 after the opening bell in New York, although the contract is back above $78 in mid morning trade helped by the surge in gold. Treasury prices opened higher in Chicago, but yields have rebounded higher sending prices lower as on the approach of . The 10-year not is down more than a quarter lifting the yield above 3.45%.
- The big news of the morning comes out of Warren Buffet's Berkshire Hathaway said it would acquire the 77% of Burlington Northern it did not already own for $100/shr in cash and stock, in a deal valued at $44B. Warren Buffet noted that the stock component was a sweetener to BNI holders "for tax purposes" and called the deal a "bet on America." Shares of BNI are up nearly 29%. Also not that Berkshire's board approved a 50-1 split of its class B stock in order to accommodate smaller holders of BNI.
- In earnings, MasterCard's bottom-line results beat expectations and revenue was slightly stronger than expected. Executives said headwinds continue to keep top line results from outperforming, but said in the long term the company would continue to benefit from the secular shift toward electronic payments. Shares of MA fell as much as 5% after the open, before recovering to around -3%; competitors AXP, DFS and V are all in negative territory.
- Ag giant Archer-Daniels Midland offered very mixed results: the firm crushed earnings expectations but missed revenue targets by a very wide margin. Many commentators said the mixed results stemmed from skewed y/y comparisons, given last year's extraordinary run ups in commodity prices. ADM executives were upbeat on the conference call, noting that the ethanol business is seeing positive margins and overall conditions are becoming more favorable for the firm. Shares of ADM are up 4-5% in early trading.
- Pharmacy services companies AmerisourceBergen and Medco Health Solutions both modestly beat top- and bottom line expectations and offered strong forecasts for FY10. Shares of both firms are up 3%, although it's worth noting that ABC is well off earlier highs around +6%. Generic pharmaceuticals name Teva reported in line with consensus forecasts, and guided slightly higher than expected for FY10.
- Shares of heavy truck manufacturer Oshkosh are up 8% after the firm destroyed low ball earnings estimates and the CEO made bullish comments about FY10, when it expects to be "solidly profitable." Manufacturer Emerson Electric did modestly better than expected in the quarter, and its shares are up a few percent.
- Royal Caribbean's Q3 was a bit mixed, but its comment on the conference call that there has been no recovery in booking volumes on a sequential basis and guided net yields for next quarter lower. RCL is making fresh lows around -6%. Rental car name Avis Budget Group missed revenue targets in its Q3, and warned that rental volumes are falling on a y/y basis in its Q4. Shares of CAR are up 7% after topping out above +8%. Apparel firm Ralph Lauren may have exceeded expectations in its Q2, but shares of RL have given up gains on the day after the CFO said sales are still depressed.
- The USD and JPY pairs held on to the bulk of their European session gains during the New York morning, although they did fall back somewhat after equity markets stabilized and fixed-income futures moved into negative territory. EUR/USD tested its March uptrend line at the 1.4630 level but dealers noted that the implied volatility of the pair rose once the 1.4680 was breeched. EU growth forecasts released earlier today highlighted some of the fiscal constraints on its respective members budgets over the next few years. Afterward Greece announced a one-off charge on its 300 biggest companies to raise just under â‚¬900M in funds. Sterling was Europe's weakest currencies ahead of the BOE policy meeting on Thursday. The focus will be on the quantitative easing measures and exactly how much (if at all) the special measures ceiling would be raised from the current Â£175B level.
Legal disclaimer and risk disclosure
All information provided by Trade The News (a product of Trade The News, Inc. "referred to as TTN hereafter") is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. Although information is taken from sources deemed reliable, no guarantees or assurances can be made to the accuracy of any information provided. 1. Information can be inaccurate and/or incomplete 2. Information can be mistakenly re-released or be delayed, 3. Information may be incorrect, misread, misinterpreted or misunderstood 4. Human error is a business risk you are willing to assume 5. Technology can crash or be interrupted without notice 6. Trading decisions are the responsibility of traders, not those providing additional information. Trade The News is not liable (financial and/or non-financial) for any losses that may arise from any information provided by TTN. Trading securities involves a high degree of risk, and financial losses can and do occur on a regular basis and are part of the risk of trading and investing.
Forex Trading News
Daily Forex Market News Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Forex News Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."
Actionable trading levels delivered to YOUR charts in real-time.
Tue 19 June 2018 A 12:30 US- House Permits/Starts Wed 20 June 2018 A 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude Thu 21 June 2018 AA 11:00 GB- Bank of England Decision A 12:30 US- Weekly Jobless Fri 22 June 2018 AFlash PMIs
John M. Bland, MBA co-founding Partner, Global-View.com
Global-View Affiliate Program
We are starting an affiliate program to market some of our products.
Send me an email if you would be interested or if you know someone who would like to be an affiliate. Generous commissions payout for those accepted.
Put the word "affiliate" in the email subject line.
Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.
looking for your first broker or do you need of a new one? There are
more critical things to consider than you might have thought.
We were trading long before there were online brokers. Global-View
has been directly involved with the industry since its infancy. We've
seen everything and are up-to-data with recent regulatory changes.
The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.
The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.
Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.
The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.
Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.
Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.
Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.
WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES
CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN
EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE
PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE
INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC
REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL
SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR
SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.