Trading Review: Current Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
22:00
The trading day on the New York Stock Exchange was marked by gains that intensified towards the close. The Dow Jones Industrial Average was up 1.8%, the Nasdaq was up 2.9% and the S&P 500 was up 2.1%.
At the same time, oil prices continued to fall, a Brent contract for delivery in May fell 6.5%, $ 6.99, and closed at $ 99.91 a barrel – down 22% from a week ago record, $ 127.98 a barrel, the highest price since July 2008.
Against the backdrop of trading, investors are following recent developments regarding the ceasefire negotiations in Ukraine and the corona closures in China that have experienced a significant outbreak, which could disrupt supply chains.
The decline in oil prices oppressed shares of energy companies Axon Mobile fell 5.7% and Chevron 5%. Airline shares peaked after five major carriers raised their revenue forecasts and recovery expectations for flights on U.S., Delta, American Airlines and United Airlines jumped about 9%.
Technology giant stocks recovered some of the declines, Amazon and Microsoft jumped 3.9%, Apple rose 3%, Alphabet added 2.6% and Meta 2.9%. Chips shares also rose, with Anvidia jumping 7.7%.
Nearly all Dow and Nasdaq shares were painted green, with Disney jumping 4% and Procter & Gamble Home Depot and McDonald’s rising more than 3%.
Among Israelis, Monday jumped 7.2%, Solaredge rose 5.8%, Zim rose 3.2%, Teva advanced 2.2% and Weeks strengthened 3.9%. On the downside, Supercom cut 15.3%, and Siren lost a similar rate and Rey Automotive dropped 4.7%.
21:25
The gains on Wall Street are strengthening towards the end of trading: the Dow Jones index is up 1.9%, the Nasdaq is up 2.9% and the S&P 500 is up 2.1%.
Brent oil for delivery in May fell 6.5 percent, to $ 6.99, and closed at $ 99.91 a barrel – down 22 percent from a week-ago high of $ 127.98 a barrel, the highest price since July 2008.
20:45
A WTI oil contract for April delivery was cut by 6.4%, $ 6.57, and closed at $ 96.44 a barrel.
19:50
Gold retreated Tuesday in a row: a contract for delivery in April fell 1.6 percent, $ 31.1, and closed at $ 1,929.7 an ounce.
18:45
European stock markets ended the trading day in a negative trend: in Frankfurt the Dax index closed steadily, from the red side, in London the Potsy 100 lost 0.2% and in the Paris Cuck 40 it weakened at a similar rate. The European Stakus 600 Index retreated 0.3%.
17:40
The gains on the Nasdaq are up and the index is up 2.4%. Chips shares are up, Anvidia is up 6.7%, AMD is up 6%. Hardware maker Marvel is up 8.2%.
Oil continues to lose ground: Brent oil loses 8% to $ 98.3 a barrel, WTI oil cuts 9% to $ 93.7 a barrel.
16:40
Rises in New York are strengthening: the Dow Jones industrial average is up 1%, the Nasdaq is up 1.8% and the S&P 500 is up 1.3%.
Aviation stocks dominate the top of the S&P 500, while energy stocks bottom at the bottom. The Nasdaq is led by Chinese Internet stocks led by JD.COM, which jumped 11%. At the top of the Dow, McDonalds is up 2.9%, American Express is up 2.8% and Procter & Gamble and Disney are up 2.6% each.
Of the Israelis, Tabula jumps 10%, Teva rises 2%, Nano Dimension jumps 4.6% and Iron Source strengthens 3%. On the downside, Zim loses 2.6% Siren drops 4% and Rey Automotive weakens 3.4%.
15:30
The trading day on the New York Stock Exchange opened with gains: the Nasdaq index rose by 1%, the Dow Jones index strengthened 0.8% and so did the S&P 500 index.
Oil prices continue to fall Monday continuously and fall back below $ 100 a barrel. The declines are depressing on energy stocks. Chevron, Liberton and Marathon lose about 5%. Aviation shares, on the other hand, are rising – United Airlines is up 10%, Delta is up 9% and American Airlines is up 8%.
Macro USA: The jump in energy prices in February led to the sharpest monthly jump in wholesale product prices in the US, according to data from the Bureau of Statistics of the Department of Labor. The producer price index rose 0.8% in February compared to January. On an annualized basis, this is a jump of 10% compared to February 2021. The core index of producer prices, excluding food, energy and commercial services, rose by only 0.2%, well below forecasts of 0.6%.
The yield on 10-year US government bonds falls by about five basis points to a level of 2.1%. In the commodity arena, Brent oil is down 6.2% to $ 100 a barrel, and WTI oil is down 6.5% to about $ 96 a barrel. Gold loses 2% to $ 1,921 an ounce, silver drops 1.3%, platinum cuts 4.8%. Wheat is up 0.9%.
The dollar weakened by 0.2% against the currency basket and by 1% against the Japanese yen to 118 yen per dollar. The pound is up 0.6% at $ 1.31 a pound and the euro is up 0.4% at $ 1.10 a euro.
13:55
Moderation of declines in Europe. The Dax index is down 1.2% and the CAC index is down 1.3%, while the decline in the English Potsy index has intensified by about 1%. Earlier it was reported that the unemployment rate in the kingdom had dropped to 3.9% (when forecasts estimated it would stand at 4%) and the number of job seekers had also dropped well above expectations.
Volatility on Wall Street was reflected even before the start of the trading day, and futures moved to slight increases of 0.1% -0.3%. In the early trade, airlines stand out, among them American Airlines , United , Southwest Alaska Air and Delta, and Game Stop, Modern And Pot Locker climb. On the other hand, the energy companies, in them Oxidental Petroleum Devon and Oil Marathon, go down.
Celebrity The Israeli company, which provides digital intelligence solutions, announced that it has been selected by the US Department of Public Security to provide technology to reduce crime related to hard drugs. The agreement is a multi-year worth over $ 800,000.
In the oil trading arena, declines deepened to 7% -8%. Brent drops to $ 99.7 a barrel, and US oil to $ 95.5 a barrel.
12:25
In the weekly review of Blackrock Investment firm experts predict that the Ukraine war will have a far-reaching impact on the macro environment: “It will reduce global growth, increase inflation and put central banks in a troubled position.” The rise in energy prices is a “severe shock to supply that adds to the problem of the existing supply chain and this causes inflation and slower growth, especially in the eurozone countries. “, Blackrock explains.
Referring to energy prices, BlackRock notes that the recent rise in prices has led the eurozone to an extraordinary rate of energy cost burden as a percentage of GDP. “This is a higher rate than what we saw in the early 1970s. The United States is still in a safe place below that rate. This is why we see the current energy crisis, for Europe, as one that can equate to acute crises from the past such as the 1973 oil embargo. We believe that the European Central Bank’s forecasts underestimate the effects of the shock on growth. “The U.S. is on a more positive point in our view. The shock is still smaller than previous energy crises and the U.S. also has better mitigation effects on growth as a result of its strong momentum in the economic restart.”
11:20
The declines in Europe continue and even intensify. The DAX is already down 2.2% and the CAC is down 2.4%. Potsy sheds 1.5%, Eurostocks 50 drops 2.3% and so onStokes 600 In 2%. The declines in Wall Street futures are around 0.7%.
Shares of the footwear company Dr. Martins Falls by 11.7% in London, and further sharp declines are recorded by the mining company Polymthal Bank of England Charter standard The Norwegian robotics company Autostor andDaimler German. On the other hand, a bank BPM The Italian climbs, Electrolux Strengthens in Stockholm andCredit Suisse Rises about 3% in Zurich.
The crypto market is experiencing moderate declines. GodBitcoin Loses 1.7% and trades for $ 38.4 thousand, eEtherium Decreased 2.6% to $ 2,522 per currency. The small currencies are also recording declines of 2% -3%.
10:08
European stock markets opened the day in a negative trend. The German Dax and French Kak indices are down 1.3%, the British Potsy is down 1.2% and more declines of more than 1% are recorded in Amsterdam, Milan, Stockholm and the index Eurostocks 50 The European rule.
In Hong Kong, trading closed with a sharp 5.5% drop in the flagship index Hang Seng , Mainly due to sharp declines in technology and energy stocks. China Index Shanghai Fell by 5%, Shenzhen index fell 4.3%.
Futures on leading Wall Street indices are trading down 0.3%. Government bonds recorded a slight decline in yields, with the yield on the 10-year bond shed 3 points and dropped to 2.11%.
In the oil market, brent prices are cut by 6% and it is approaching a prefix change, while trading around $ 100 a barrel. The WTI has already dropped to $ 96 a barrel. Both crude oil have already lost 20% in the past week.
09:00
The decline in the Heng Seng Index is deepening and it is already plunging more than 6%. The Shanghai index falls 4.5% and the Shenzhen index 3%. The Japanese Nikkei was up 0.1%, and the Kospi was down 0.9%.
In Hong Kong, particularly sharp declines are recorded in shares of Ping, Sands China, Longpur, Country Garden, Alibaba, CSPC Pharma, Tencent and China Overseas.
On Wall Street the contracts moved to the negative side. Futures on NASDAQ are stable, but on Dow Jones and the S & P500 are down 0.1%.
07:50
The leading indices in Asia are traded mainly in declines (index Nike The Japanese actually strengthens by 0.3%), among other things against the background of the renewed corona outbreak in China and Hong Kong and the fear that Chinese shares will be deleted from trading in the US, after the Securities Authority did not verify their financial statements. Hang Seng Falls by 3.5% and in China the indices fall by 1.8% -2.6%.
China’s industrial production index rose 7.5% year-on-year in February, compared with an expectation of only 3.9%. Retail sales rose 6.7%, above the forecast of 3% increase. The unemployment rate in China is also above forecasts – 5.5% in February compared to 5.1% in the previous month. Unemployment data in the UK and the Combined Consumer Price Index in France will also be released today.
In Tokyo, car manufacturers are rising, with Nissan rising 4.5% and Toyota adding 2.3%. The oil giant Infax is down more than 7%, the iron mining company Sumitomo is diving by 10%. In Hong Kong, there are sharp declines for Petrochina and CNOOC, and technology companies are also losing ground after falling on Wall Street last night, including Alibaba losing 7%. Other significant declines are recorded by Tencent, Ping and JDCom.
Crude oil prices, which were cut more than 6% yesterday, continue to fall below $ 100 a barrel of US oil (WTI). Brent is trading around $ 101.7 a barrel, down 4.8%. The negative momentum continued in gold as well, losing 1.1% to $ 1,928 an ounce.
Wall Street futures are trading slightly higher after a negative close last night, with U.S. government bond yields soaring to near-three-year highs. The yield on the 10-year bond soared by 14 points to 2.14%, the highest level since May 2019, and this morning is also at that rate. NASDAQ fell 2% yesterday, S & P500 0.7% and Dow Jones closed unchanged.
This week the United States moved to daylight saving time. Until March 24, when the clock will also change in Israel, trading hours on Wall Street will be between 15:30 and 22:00 Israel time. Tomorrow at 20:00 (Israel time) the interest rate decision will be published Of the Federal Reserve, when according to market estimates it will rise by 25 basis points.
Rafi Gozlan, chief economist at IBI Investment House, explains in his review that the Fed’s room for maneuver is low against the background of the very high inflation environment. The February US Consumer Price Index rose 0.8 percent to hit 7.9 percent year-on-year. Emphasis will be on the way in which the central bank sees the deterioration in the macro picture – that is, the acceleration in inflation in the face of the moderating effects on activity later in the year – and the resulting assessments both in terms of interest rates and balance sheet progress.
The Fed signaled a 25-hp rather than a 50-hp interest rate hike, in an attempt not to produce too sharp a shock in the markets, as the geopolitical deterioration helped it. However, Chairman Jerome Powell recently noted that the Fed “It may accelerate the pace if necessary, and as things stand on the day, the continued acceleration in inflation in the coming months raises the probability of higher rates, of 50 bp, in one of the following decisions,” Gozlan noted.