Trading Review: Ongoing Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
23:00
Positive lock in New York. At the end of a volatile day, the major stock indices recorded gains of up to 0.4%.
Significant increases were recorded by Rivian, Lucid and among Israeli stocks ICL , Lemonade Ofko and Siva.
On the other hand, sharp declines recorded thyme, Faber , Rada Monday and Cognate.
In the commodity trading arena, oil continued to lose ground. A Brent oil contract fell 2.4 percent, completing a 19 percent drop in the past month.
21:40
A positive trend on Wall Street right now. Leading stock indices climb 0.6% -0.8%.
stock Anvidia Apple andMicrosoft Cost more than 1%.
The yield on 10-year US government bonds rises by 10 basis points to 2.91%.
21:10
A mixed trend on Wall Street. The Nasdaq is trading steadily and the Dow Jones is down slightly.
The minutes of the Fed’s last “open market committee” meeting, June 14-15, were published, at the end of which the committee member decided to raise the US interest rate by 0.75%. -0.75% this month, even if the move causes a significant slowdown in the economy.
“If the level of inflation remains high, committee members recognize the need for a restraining policy. Committee members know that raising interest rates could hurt economic activity but are determined to bring inflation back to about 2%, leading to a high and sustainable employment rate,” the document said today.
In the weeks leading up to the latest interest rate announcement, economists estimated that the Fed would raise interest rates by only 0.5%, but a particularly high inflation figure (8.6% increase in 12 months) forced the Fed to accelerate the rate hike. “Many members of the committee estimated that there was a risk that inflation would remain at a high level for a long time if the public estimated that the Fed was not determined enough to fight inflation,” according to the minutes.
19:25
The British government collapses: Another wave of resignations was recorded today, when junior ministers joined the public uprising of health and finance ministers, who resigned yesterday while sharply criticizing Prime Minister Boris Johnson. The criticism is against Johnson’s personal background and personal ethics, and the cumulative impression that he lied to the public and party members so that it does not involve a possible policy change, but rather promotes the possibility of quick elections or resignation of party leaders and other conservative politicians running for office.
This afternoon, the Conservative Party’s 1922 Committee convened for an emergency meeting. Johnson was ostensibly protected from another no-confidence vote within the Conservative Party for a year, having won a small majority in the previous vote about a month ago, but party representatives on the committee are considering changing the rules so another vote could be held soon, maybe even tonight. It depends on the vote of the party members on the matter, and on the letters received. The committee convened at 18:30 (Israel time). If Johnson is informed that there is a majority for another vote, he may step down and resign.
18:45
European trading day closed with gains of up to 2% in the leading stock indices. Wall Street is now down 0.5%.
Among Israeli stocks, there are significant declines Cognate Redhill, Monday Risked, Zim Thyme and fertility.
Sharp rises record shares of electric vehicle manufacturers Ribian And Lucid, after Rivian updated that it delivered 4,467 vehicles in the second quarter. Neo On the other hand, falls by about 8%.
Oil contracts are down more than 2%, after a sharp drop yesterday. Energy stocks, among them Exxon Mobile andmisfortune Continue to lose height.
17:05
A mixed trend with a tendency to rise on Wall Street. Major stock indices are climbing at rates of up to 0.4%.
Prominent declines are recorded Tesla Netflix, Ford GM, Elbit Systems Wokmi andFaber .
In the global forex market the euro continues to fall and almost compares its value to the dollar. The euro fell 0.9 percent to $ 1.017, after losing more than 10 percent since the beginning of the year. Avishai Kroani, CEO of Investment Portfolio Activists, notes that “the devaluation of the euro will actually help the eurozone economy mitigate the war in Ukraine’s employment and growth. The devaluation will support exporting companies and may reduce imports. “Between the Fed’s interest rate and the European Bank’s interest rate. Under these conditions, devaluation is completely ‘normal’ and is part of the shock adjustment mechanism.”
Macro USA: The Purchasing Managers ‘Index for the services sector stood at 52.7 points in June, compared with economists’ expectations of 51.7 points.
16:31
The trading day on Wall Street opened with slight gains. The leading indices climb at rates of up to 0.4%.
Stock Thyme Digital Drops 27% after the company issued a profit warning regarding the second quarter of 2022. The company is expected to present an operating loss of about $ 18 million (according to the mid-term range) and adjusted EBITDA (profit after deducting interest, tax, depreciation and amortization) which will be negative at about $ 15.6 million.
Rada Drops 13% after the company issued a warning that its second-quarter revenue would reach $ 22.5 million, while analysts’ expectations were at $ 36.1 million and in the corresponding quarter its revenue was $ 28.3 million.
15:10
While in the stock market the screens are still green and European stock markets are climbing, in the foreign exchange market the euro continues to plummet and almost compares its value to the dollar. Also against the local shekel, and drops to NIS 3.58 (while the dollar is trading at a slight increase around NIS 3.52).
Wall Street saw 0.3% to 0.5% declines in futures contracts.
Redcom The Israeli reported that its service guarantee solution (which ensures a smooth transition to 5th generation for telecom operators), deployed on Rakuten Mobile’s cellular network in Japan, will be extended to telecom operators around the world on the Rakuten Symphony Symworld platform.
13:35
Kamhada The dual, controlled by the Phimie Foundation, won a $ 11.4 million supply agreement for a VARIZIG product for an international organization operating primarily in South America. It is one of four FDA-approved commercial products recently acquired by Kamhada. It is a plasma-based antibody preparation for the treatment of exposure to chickenpox in high-risk patient groups. The stock is climbing about 3% in early trading.
In contrast, Rada and Thyme continue to crash in early trading, Rada more than 10% and Thyme erasing about a quarter of its value.
Wall Street contracts are still stable, while European stock markets are rising sharply by 1.6% -2%. Euro Stokes 50 The European rule adds 1.7%.
12:25
BlackRock Investment Institute experts commented in their weekly review of global markets: “After receiving the latest data, it is clear that the US and the eurozone are facing continued inflation and that there are signs of a slowdown in economic activity – leading to further stock market declines. At the same time, US bond yields for two years recorded the largest weekly decline since 2020, which is a sign that short-term interest rate markets also have doubts that central banks will indeed raise interest rates as expected.
“Central banks’ statements about fighting inflation have not yet given an indication of the way they will choose: to crush growth or live with inflation, so this is not the time to buy stocks in sectors that were previously attractive, even if prices are now low. In the near term, we expect the Fed to raise interest rates Sharp to stifle the restart, and we see opportunities in selected energy stocks, which are now priced with a certain drop in energy prices, in parallel with the increase in revenues and profits of these companies due to the race to replace Russian energy sources. “.
11:30
The Hong Kong Hong Kong Index closed down 1.5%, moderating compared to a nearly 2.5% drop in the early-morning index. The declines were concentrated by energy stocks, and Bank of China, Shiomi, automaker Gili and HSBC also lost ground. Alibaba climbed 1.6%, compared to them.
In Europe, the rises continue, the highest of which in the Dutch AEX index, which jumped 2.3%.
On Wall Street, contracts are still stable. In the early trading arena there are sharp declines toRada andthyme Israeliness, the first issued an unusual profit warning and the second published preliminary results that were not even close to the analysts’ forecasts in the market. To read more, click here.
10:15
European stocks opened in a positive trend this morning, with most major stock indices climbing at about 1.5%. Yesterday, it will be recalled, trading in Europe closed before the comeback of the New York Stock Exchange, and the indices were cut close to 3%.
The contracts on Wall Street erased the slight declines and stabilized again, with no material changes. Bond yields are climbing slightly, and the 10-year bond yield is rising to 2.83%. At the exact same level is the two-year bond yield, which indicates a flattening of the curve.
In China, trading ended in declines: the Shanghai and Shenzhen indices shed 1.4% and 1.3%, respectively. In Hong Kong, the decline moderated slightly to 1.8%, with sharp declines continuing to be led by oil stocks, led by Petrochina and CNOOC. The Idleau restaurant group is also losing ground at a sharp rate.
09:35
The Nikkei index in Tokyo closed down 1.1%, with the energy companies leading the declines in response to the fall in oil prices last night. Infax dived 10%, the Idmitsu refinery operator 6.1% and the Chiyoda oil and gas corporation more than 8.5%. Tokyo Gas and the Tokyo Electric Company also fell sharply, and automakers were also swept away with the negative momentum in the market. Toyota retreated 2.7%, Nissan mimicked 4.5%, Mitsubishi fell 5.6%.
In Hong Kong, declines have intensified and are reaching about 2.3% at this time. In Shanghai the index is down 1.7%, the cosplay in Seoul has lost 2.1%.
In the commodity market, there are slight increases in crude oil prices: American oil adds 0.6% and rises to $ 100.1 per barrel and Brent contracts jump by 1% to $ 103.8.
Meanwhile, Wall Street futures are again red, with 0.5% declines in contracts on the top three stock indices.
07:55
Trading on the Asian stock markets is taking place this morning in price declines. measure Nike The Japanese retreated 1.1% andHeng Seng In Hong Kong by 1.6%. China, South Korea and Taiwan also have declines of more than 1%, while in Australia the flagship index weakened by 0.4%. In India, on the other hand, indices are climbing slightly.
The trend is led by the various energy companies, after the fall in oil prices last night. The Japanese oil giant Infax dives close to 10%, the operator of the Idmitsu refineries by 7.3% and the oil and gas company Chiyoda by more than 8%. In Hong Kong, too, this is the trend, with sharp declines for Petrochina, China Petroleum and CNOOC.
The screens in the commodity market were as aforesaid red yesterday, when crude oil prices plunged due to the fear of an approaching global recession, which would drastically lower the demand for black gold. The Brent oil contract for delivery in September, the global benchmark index, fell 9.5%, $ 10.73, and closed at $ 102.77 a barrel. The WTI oil contract for delivery in August was down 8%, $ 8.93, and closed at $ 99.5 a barrel.
This morning the contracts stabilize and the American oil (WTI) climbs by half a percent and again reaches the level of $ 100 per barrel, while Brent rises by 1% to $ 103.8.
Wall Street recovered from the sharp declines recorded during the trading day, which reached rates of 2%, and closed in a mixed trend. The NASDAQ index jumped 1.7%, the S&P 500 index rose 0.2% and the Dow Jones industrial average weakened 0.4%. This morning, contracts are stable.
Thyme Digital The Israeli crashed 22% in late trading after publishing preliminary results for the second quarter. The company expects revenue in the range of $ 56.4-59.4 million, well below market forecasts for revenue of $ 91.4 million and also significantly lower than its own forecasts, for quarterly revenue of $ 85-95 million.
Today at 21:00 (Israel time) the minutes of the last interest rate meeting of the Federal Reserve will be published, at the end of which the FOMC Open Market Committee decided to raise the US interest rate by 0.75% – the highest rate of increase in nearly 30 years. The interest rate is now in the range of 1.5% to 1.75%. The Fed provided a forecast at the time that by the end of the current year the US interest rate would be 3.4% (compared to the previous forecast of 1.5%), and by 2023 it would rise to 3.8%.
In the crypto market, there are moderate declines of up to 1% in the leading currencies. After recovering slightly yesterday, Bitcoin retreated to $ 20,000 and is once again approaching a prefix change. Atherium weakened to $ 1,135.