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Showing posts from April, 2019

Notification | From The Desk of Fernando Guzmán Cavero

Tomorrow Wednesday 1, May 2019  I won't be on the Internet with you.  I apologize for any inconvenience this might have caused you. I will be backed next Thursday or at The most the following Monday. Please stay tuned                                                            Fernando Guzmán Cavero                                                         

FX | Currencies Price Report | The Dollar on Tuesday 30, April 2019 | Euro hits 1-week peak on upbeat data, dollar retreats

Kelly Olsen 3 minutes John Phillips | Digital Editor | CNBC The euro climbed to a one-week high against the dollar on Tuesday after first-quarter economic growth figures on the euro zone beat market expectations, dispelling some pessimism over the zone’s common currency. Mixed U.S. data and caution ahead of a two-day Federal Reserve meeting pushed the dollar further away from a near two-year high. Euro zone economic growth accelerated to 0.4% in the first three months of 2019, recovering from a slump in the second half of last year, data showed on Tuesday. The strong data offered some relief to traders after a disappointing manufacturing PMI survey this month and cautious comments from European Central Bank policymakers raised concerns that the broader economy is struggling to gain traction. “The (overall) data have been coming in better than expected. The euro is the biggest short in the market right now,” said Steven Englander, global head of G10

Bonds | Bond Yield Report on Tuesday 30, April 2019 | US Treasury yields tick lower as Fed meeting kicks off

Fred Imbert,Sam Meredith 2-3 minutes Treasury yields traded slightly lower on Tuesday as the Federal Reserve kicked off a two-day monetary policy meeting. The yield on the benchmark 10-year Treasury note traded at 2.504% while the 30-year bond dipped to 2.931%. Yields move inversely to prices. U.S. Markets Overview: Treasurys chart The Fed is largely expected to keep rates unchanged, but investors will look for clues about where the central bank thinks the economy is headed. The central bank’s meeting comes after its preferred measure of inflation, the core personal consumption expenditures index, remained unchanged for March. Labor conditions, however, remain, tight in the U.S. “Many at the Fed seem to be perplexed (and a bit concerned) by the perceived disappearance of the trade-off between unemployment and inflation,” wrote William DelWiche, investment strategist at Baird. “The recent drop in core inflation rates (as meas

Wall Street | Wall Street Closing Report on Tuesday 30, 2019 | Nasdaq retreats from record high as Alphabet posts worst day in more than 6 years

Yun Li 3-4 minutes Stocks fell on Tuesday as a sharp drop in Google’s parent Alphabet dragged down the communication services sector. The Nasdaq Composite slid 0.8% after reaching an all-time high in the previous session, while the Dow Jones Industrial Average rose 0.1%. Alphabet fell 8% and was headed for its worst day since October 2012 after posting revenue of $36.34 billion in the first quarter, versus $37.33 billion expected. The weaker revenue was driven by the decelerating ad sales growth at Google, the company said. “We acknowledge the uncertainty around the effectiveness of ad product improvements and continued limited transparency company wide, but we also believe there remains multiple monetization opportunities ahead,” JMP Securities analyst Ronald Josey said in a note. Other stocks had more positive reactions to earnings, however. Dow-component McDonald ’s posted quarterly earnings and revenue that topped analysts’ expectations. Global same-

Energy | Oil | Oil Price Report on Tuesday 30, April 2019 | Oil prices rise on Venezuela turmoil, Saudi support for OPEC cuts

Tom DiChristopher 3-4 minutes Oil prices rose on Tuesday as Venezuela’s opposition leader called on the military to back him to end Nicolas Maduro’s rule and after Saudi Arabia said a deal between producers to withhold output could be extended beyond June to cover all of 2019. The situation in Venezuela, an OPEC member whose oil exports have been hit by U.S. sanctions and an economic crisis, was fluid on Tuesday. The government promptly dismissed any suggestion of a military insurrection. The statements by Saudi energy minister Khalid Al-Falih came despite pressure by U.S. President Donald Trump to raise output to make up for a supply shortfall expected from tightening U.S. sanctions against Iran. “There was an uptick even without Venezuela due to Falih’s comments,” said analyst Olivier Jakob at Petromatrix Brent crude futures were up 84 cents, or 1.2, at $72.88 per barrel around 11:55 a.m. ET (1555 GMT). U.S. West Texas Intermed

Gold | Gold Price Report on Tuesday 30, April 2019 | Gold edges up as weak Chinese data dampens risk sentiment

Sam Meredith 3 minutes Gold prices edged up on Tuesday as disappointing Chinese factory activity data brought back concerns about the health of the global economy, denting risk appetite. Spot gold rose 0.4 percent to $1,285 per ounce. U.S. gold futures were up 0.4 percent at $1,286.20 an ounce. “The weaker Chinese PMI is a supportive element and aiding gold. Also, from a technical point of view, we have seen a rebound from $1,280, which is a good support level,” said Carlo Alberto De Casa, chief analyst with ActivTrades, adding that a weaker dollar was also helping gold. ”(I) don’t see much room for decline in prices from here and only the strength of the U.S. dollar can hurt gold.” European equity markets nudged down on Tuesday, following weaker Asian stock markets as the latest Chinese data pointed to some fragility in the world’s second-largest economy despite Beijing’s attempts to spur growth. Gold is generally used by

Europe | Europe Closing Report on Tuesday 30, April 2019 | European markets close mixed as euro zone GDP beats expectations; AMS shares jump 21%

Chloe Taylor, Sam Meredith 3-4 minutes European stocks were slightly lower on Tuesday, as signs of economic growth in the euro zone failed to outweigh weaker-than-expected Chinese data. European Markets: FTSE, GDAXI, FCHI, IBEX TICKER COMPANY NAME PRICE CHANGE %CHANGE VOLUME FTSE FTSE 100 FTSE 7405.65 -35.01 -0.47 391717860 DAX DAX DAX 12303.92 -24.10 -0.20 47525817 CAC CAC CAC 5565.66 -15.32 -0.28 48338084 The pan-European Stoxx 600 was down around 0.2% during afternoon deals, with most sectors and major bourses in negative territory. Europe’s basic resources stocks — with their heavy exposure to China — led the losses, down 1.8%. Glencore was the among the worst performers, trading almost 4% lower. Looking at individual stocks, chipmaker AMS surged to the top of the European benchmark during morning trade. It comes after the Apple supplier reported an upbeat outlook for the second quarter , driven by a rising number of A

Europe Markets | Bank of England deputy governor warns against curbing financial regulations post-Brexit

Elliot Smith 2 minutes Pedestrians walk past the Bank of England in the City of London, Britain June 28, 2016. Paul Hackett | Getty Images Light touch financial regulation after the U.K. leaves the European Union will not help the British financial sector, according to a deputy governor at the Bank of England. Speaking to CNBC’s Joumanna Bercetche at the Innovate Finance Global Summit in London, Deputy Governor for Markets and Banking Dave Ramsden indicated that adopting light touch regulation to gain a competitive advantage for the U.K. financial sector after Brexit was not on the agenda. Ramsden said it was important that the Bank of England retained focus in its core mission of ensuring the soundness of individual banks and the overall financial system, especially 11 years on from the start of the financial crisis. “The lessons we have learned from that are that it’s incredibly important to always maintain the right r

Market Insider | Stocks making the biggest moves premarket: Alphabet, General Electric, MGM Resorts & more

Fred Imbert 3-4 minutes Check out the companies making headlines before the bell: Alphabet — The Google-parent reported better-than-expected earnings but its stock dropped nearly 8% in the premarket after posting a slowdown in advertising revenue growth . The company said its ad revenue grew by 15.3% in the first quarter, down from 24.4% in the year-earlier period. General Electric — The industrial giant reported better-than-expected quarterly results as the company works to simplify its business and turn around the company. CEO Larry Culp also reaffirmed General Electric’s 2019 forecast , sending the stock up 8.5%. AK Steel — Shares of the steel company rose 3.7% in the premarket after reporting earnings per share for the previous quarter that beat expectations. The company’s results got a boost from higher prices. MGM Resorts International — The casino operator’s stock fell 3.2% on a big miss on quarterly earnings. MGM posted a

Employment Costs Index News Release | Compensation costs up 0.7% Dec 2018 to Mar 2019 and up 2.8% over the year ending Mar 2019

     Compensation costs up 0.7% Dec 2018 to Mar 2019 and up 2.8% over the year ending Mar 2019 Compensation costs increased 0.7 percent for civilian workers, seasonally adjusted, from December 2018 to March 2019. Over the year, compensation rose 2.8 percent, with wages and salaries rising 2.9 percent, and benefit costs rising 2.6 percent. HTML | PDF | RSS | Charts Source: BLS

Investing | the biggest analyst calls of the day: Alphabet, Bank of America, Disney & more

Michael Bloom 4-5 minutes Here are the biggest calls on Wall Street on Tuesday: Stifel downgraded Alphabet to ‘hold’ from ‘buy’ Stifel downgraded the stock and said it sees “lower visibility” on revenue growth. “We view shares as fairly-valued at current levels and believe the multiple is likely to remain range bound over the next twelve months as a potential deceleration digestion period lies ahead with lower visibility into near-term revenue growth rates. The upside to Street margin in 1Q would be an encouraging trend all else equal, though the topline deceleration path and questions regarding Alphabet’s long-term revenue growth trajectory are likely more meaningful to intermediate-term stock performance in our view, while discretionary spending could also cause opex to tick up again in future quarters. At aftermarket prices, GOOGL shares trade at approximately 22x our 2020E GAAP EPS, matching the three-year historical average o

Business News | Vodafone found security flaws in Huawei equipment in 2011, 2012

4-5 minutes LONDON (Reuters) - Telecoms group Vodafone found security flaws in equipment supplied by China’s Huawei to its Italian business in 2011 and 2012, the two companies said on Tuesday. FILE PHOTO: The Logo of Huawei is seen at its showroom in Shenzhen, Guangdong province, China March 29, 2019. REUTERS/Tyrone Siu/File Photo Vodafone, the world’s second-biggest mobile operator, said it had found security vulnerabilities in two products and that both incidents had been resolved quickly. Huawei, the world’s biggest producer of telecoms equipment, is under intense scrutiny after the United States told allies not to use its technology because of fears it could be a vehicle for Chinese spying. Huawei has categorically denied such accusations. Vodafone paused the deployment of Huawei equipment in its core networks in January as the British group waits for Western governments to give the Chinese company full security clearance. Last wee

Analysis | The Cybersecurity 202 | Here are the 55 things the U.S. government most needs to protect against cyberattacks

By Joseph Marks 9-11 minutes PowerPost Analysis Analysis Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events THE KEY Christopher Krebs, director of the Department of Homeland Security's Cybersecurity and Infrastructure Security Agency. (Evan Vucci/AP) The Department of Homeland Security is releasing today a list of 55 things the government most needs to protect from digital attacks. The government believes that a cyberattack on any of these government or private sector services or functions could have a “debilitating effect” on national security, the U.S. economy or public health. On the list, provided first to The Cybersecurity 202, are some obvious things -- such as supplying water or generating electricity. But the list also delves into some broader categories, including preserving Constituti

The Americas | Venezuelan opposition leader Juan Guaidó appears to stage military-backed challenge to President Maduro

By Mariana Zuñiga  4-5 minutes Venezuelan opposition leader Juan Guaido speaks with a military member near the Generalisimo Francisco de Miranda Airbase, "La Carlota," in Caracas, Venezuela, April 30, 2019. (REUTERS/Manaure Quintero ) Anthony Faiola Correspondent covering Latin America, Venezuela, Argentina, Brazil, human rights, poverty, globalization and economics April 30 at 7:15 AM CARACAS, Venezuela — Venezuelan opposition leader Juan Guaidó appeared early Tuesday to be staging a military-backed challenge to President Nicolás Maduro, issuing a video with troops that he said was recorded at a base in Caracas and urging other soldiers to join the final stage of “Operation Liberty” meant to force the socialist leader from power. “People of Venezuela, the end of usurpation has arrived,” Guaidó said. “At this moment, I am with the main military units of our armed forces, starting the f

Health News | Novartis's Sandoz strikes deal for biosimilar of Herceptin

1-2 minutes FILE PHOTO: Swiss drugmaker Novartis' logo is seen at the company's plant in the northern Swiss town of Stein, Switzerland October 23, 2017. REUTERS/Arnd Wiegmann/File Photo ZURICH (Reuters) - Novartis’s Sandoz division has struck a deal with Taiwan’s EirGenix Inc to market a biosimilar version of Roche’s Herceptin that is now in late-stage development to treat some cancer tumors. Novartis said the accord covers the trastuzumab biosimilar in Phase III development for human epidermal growth factor receptor 2 positive (HER2+) breast and gastric tumors. EirGenix will be responsible for development and manufacturing, while Sandoz has the right to commercialize the product in all markets except China and Taiwan. EirGenix will receive an upfront payment, milestone payments, and a share of profits from sales, Novartis said, giving no more financial details. The deal - the third biosimilar collaboration for Sandoz in 18 mon

Markets | Small Caps Stand to Benefit From Stronger Dollar

Markets Good morning, I'm Jessica Menton, here with your daily market update. Alphabet shares are dropping premarket after the Google parent posted its slowest quarterly revenue growth since 2015. Investors will turn their attention to earnings from General Electric, Eli Lilly and Merck ahead of the opening bell. Tech giant Apple headlines companies reporting results after the market closes. As stocks wrap up the final trading day of the month, I explore why small-cap shares are facing a critical test.   Markets in a Minute   Overnight Developments Global stocks wavered after Wall Street hit a new closing high, raising questions about how much longer the rally can continue. Read our full market wrap here   Dollar’s Climb Could Boost Small-Cap Stocks The broader market could benefit