Dow +175 S&P +16 NASDAQ +44 - US equity markets made up all of yesterday's afternoon losses in the premarket this morning and headed even higher after the open on positive jobs data. The weekly jobless claims numbers hit their lowest levels since the very beginning of 2009, stoking optimism that Friday's nonfarm payrolls would also show marked progress on the jobs front. Selected improvements in same-store sales are helping as well, while Cisco is lighting up the Nasdaq on a strong Q1 report and an upbeat outlook. Front-month crude is subdued on the equity strength, trading just above the $80 handle.
- Shares of CVS are down more than 20% after the company said its pharmacy benefits management business may decline as much as 12% in 2010 (the firm refrained from offering any 2010 guidance on the call). CVS's Q3 results were largely in line with expectations, and it also authorized a brand new $2B stock buyback program. Prudential Financial beat profit estimates and raised its full-year profit guidance significantly, but missed revenue targets. PRU is down 3% or so. MGM returned to profitability in Q3 and told investors that Las Vegas is looking better than at any time since the crisis began. MGM is up 7%.
- Aetna, Cardinal Health and Cigna are up modestly this morning after all three firms exceeded expectations in quarterly earnings reports. Note that the entire health insurance sector was up significantly yesterday as investors speculated that the big Republican election wins could restrain healthcare reform. Note that Aetna trimmed its full-year guidance range, and warned that the uncertain employment situation in 2010 may constrain the business. Casualty insurer Allstate missed top- and bottom-line estimates, sending shares of ALL down 5%. Note that IMS Health is up 25% after receiving a $5.2B cash buyout offer from a private equity firm.
- Cisco Systems is leading the broader tech sector higher this morning after beating estimates and adding even more funding to the company's giant stock buyback program. "Building off what we saw as a clear tipping point in Q4, our Q1 results continued to reflect strong sequential growth trends that meet or exceed expectations during normal economic times," said Cisco CEO John Chambers. Mobile applications chipmaker Qualcomm missed Q4 expectations and guided below par for 2010 and next quarter, although investors are looking past these results and taking heart from a big contract renewal from Samsung. CSCO is up 4% in early trading, while QCOM is up 3%. Smaller chip names MCHP and SANM offered solid results as well - MCHP is up more than 5% while SANM is up a whopping 25% on outstanding guidance for next quarter.
- Despite the potential presented by attractive y/y comparisons thanks to the terrible state of retail last October, today's October same-store sales data was largely mixed, with little evidence for an across the board trend of recovering consumer spending. Apparel names TJX, Ross Stores and the Gap beat estimates and reported improvements over September comp sales levels. Aeropostale, which has consistently reported huge positive comps over the last year, surprised to the downside, missing estimates by a wide margin. American Eagle Outfitters and The Limited missed estimates and slipped back into negative y/y comps. Costco pushed further into the green in October after returning to positive comps back in September. Competitor BJ's disappointed at -1%, while Target's same store sales were more or less flat. High-end department stores Nordstrom and Saks both crushed consensus expectations with surprisingly strong comps. Mid-market department store Bon-ton also beat expectations. Dillard's and JC Penny fell further into the red, while Kohl's came up short of expectations but sustained positive comps.
- US economic data has whetted risk appetite this morning, and equity strength has thrown the greenback on to the defensive. Across the pond, the ECB and BoE both left key interest rates unchanged, as expected. The BoE added another Â£25B to its quantitative easing program, for fresh total of Â£200B. Sterling firmed up in the aftermath of the announcement, given most analysts were seeking a Â£50B increase. GBP/USD tested 1.6640 before consolidating in its post-decision range. ECB Chief Trichet said the ECB would begin mopping up extra liquidity soon, and largely reiterated the usual barrage of rhetoric about rates being appropriate, signs of economic recovery emerging in 2009 and slow recovery arriving in 2010. The dollar managed to recovery from session lows after Trichet's comment that a strong USD was in US's interest and reiterated the G7 position that excessive volatility was unwanted. Trichet did note that an orderly appreciation of emerging market currencies is a good way to correct global imbalances. In mid-morning
trade, some dealers wondered whether EUR/USD should have been higher after this morning's events.
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.
Mon 19 Mar 2018 Tue 20 Mar 2018 AA 9:30 GB- CPI A 10:00 DE- ZEW Survey Wed 21 Mar 2018 AA 03:00 AU- Employment AA 9:30 GB- Employment A 12:30 US- Current Account AA 14:00 US- Existing Homes Sales A 14:30 US- EIA Crude A A18:00 US- Fed Rate Decision A 21:00 NZ- RBNZ Rate Decision Thu 22 Mar 2018 AA All Day flash PMIs AA 9:30 GB- Retail Sales AA 12:00 GB- Bank Of England Decision A 13:30 US- Weekly Jobless Fri 23 Mar 2018 AA 12:30 CA- CPI/Retail Sales A 12:30 US- Durable Goods A 14:00 US- New Homes Sales
John M. Bland, MBA co-founding Partner, Global-View.com
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.