- Sensex, Nifty Set To Open Higher Ahead Of Budget
This will be the last full Budget of the NDA government before the 2019 general elections. Benchmark indexes Sensex and the Nifty ended slightly lower on Wednesday while the rupee broke a two-day losing streak to end up by 2 paise at 63.58 against the dollar. Gold edged up slightly and oil recovered from recent declines even as rising U.S. yields lent some support for the dollar. European markets ended Wednesday's session mostly lower as investors digested mixed corporate earnings results and awaited the Federal Reserve's first policy decision of the year. The pan-European Stoxx Europe 600 index eased 0.2 percent to extend losses for a third straight session.
- Pre-budget rally: Nifty stocks that gained the most in 2018
Among the 50 stocks in Nifty, 28 gave positive returns in this year so far. Out of the Nifty stocks, 10 stocks rose over 10% in this one-month period. Surprisingly, most of these stocks are from the IT sector that were major laggards in the blockbuster rally of 2017. Rally in Yes Bank is led by firm Q3 FY18 results. Among major losers among Nifty stocks so far this year were Bharti Airtel Ltd (down 16.95%), Eicher Motors Ltd (down 11.26%), Aurobindo Pharma Ltd (down 8.49%), Dr Reddy’s Laboratories Ltd (down 7.82%) and Tata Motors fell (down 7.4%).
- Thai Stock Market Draws Firm Lead
(RTTNews) - The Thai stock market inched higher again on Wednesday, one day after it had halted the two-day winning streak in which it had gathered almost 20 points or 1 percent. The Stock Exchange of Thailand remains just above the 1,825-point plateau and it may tick higher again on Thursday. The global forecast for the Asian markets suggests mild upside after the FOMC left interest rates unchanged. For the day, the index added 0.25 points or 0.01 percent to finish at 1,826.86 after trading between 1,819.50 and 1,834.26. The modestly higher close on Wall Street came after the Federal Reserve announced its widely expected decision to leave interest rates unchanged.
- Australia Building Approvals Tumble 20.0% In December
(RTTNews) - The total number of building permits issued in Australia plummeted a seasonally adjusted 20.0 percent on month in December, the Australian Bureau of Statistics said on Thursday - standing at 16,891. Approvals for private sector dwellings excluding houses plunged 39.2 percent on month and 18.4 percent on year to 6,807. The value of residential building plummeted 25.4 percent and the value of non-residential building dipped 3.4 percent. Also on Thursday: • The ABS said that export prices in Australia were up 2.8 percent on quarter in the fourth quarter of 2017. The rise was driven by higher prices paid for petroleum, petroleum products and related materials (+14.0 percent), fertilizers (excluding crude) (+23.1 percent), inorganic chemicals (+13.1 percent) and organic chemicals (+10.0 percent).
- Indonesia Bourse May Add To It Winnings On Thursday
The global forecast for the Asian markets suggests mild upside after the FOMC left interest rates unchanged. The European markets were mixed and the U.S. bourses were slightly higher and the Asian markets figure to split the difference. The JCI finished modestly higher on Wednesday as gains from the financials and cement companies were capped by weakness from the food stocks and a mixed bag from the resource plays. The major averages bounced back and forth across the unchanged line before closing modestly higher. The modestly higher close on Wall Street came after the Federal Reserve announced its widely expected decision to leave interest rates unchanged.
- iShares MSCI Mexico Index Fund ETF (ETF:EWW) - Traders Are Flocking To A Surprising Leveraged EM ETF
Mexican stocks were supposed to be vulnerable to the idea of Donald Trump in the White House, but the MSCI Mexico IMI 25/50 Index gained 14.5 percent last year. The MSCI Mexico IMI 25/50 Index is up about 7 percent to start 2018, a solid showing and one that is sparking renewed interest in the Direxion Daily MSCI Mexico Bull 3X Shares (NYSE:MEXX). The Direxion Daily MSCI Mexico Bull 3X Shares is designed to deliver triple the daily returns of the MSCI Mexico IMI 25/50 Index. Over the past month, the triple-leveraged Mexico ETF is averaging daily inflows of nearly $312,000, according to issuer data. Conversely, the iShares MSCI Mexico ETF (NYSE: EWW), which also tracks the MSCI Mexico IMI 25/50 Index, has 2018 inflows of just $7.4 million.
- Taiwan Stock Market May Extend Wednesday's Gains
The Taiwan Stock Exchange now rests just above the 11,100-point plateau and it's called higher again on Thursday. The global forecast for the Asian markets suggests mild upside after the FOMC left interest rates unchanged. The TSE finished modestly higher on Wednesday following mixed performances from the financial shares and the technology stocks. The major averages bounced back and forth across the unchanged line before closing modestly higher. The modestly higher close on Wall Street came after the Federal Reserve announced its widely expected decision to leave interest rates unchanged.
- Microsoft Q2 Tops Wall Street - Update
Nevertheless, second-quarter adjusted earnings trumped analysts' estimates as did revenues, driven largely by strong growth in cloud business. Redmond, Washington-based Microsoft reported second-quarter loss of $6.30 billion or $0.82 per share, compared to last year's profit of $6.27 billion or $0.80 per share. Intelligent Cloud segment, which includes its Azure on-demand computing services, revenues increased 15 percent to $7.8 billion, with Azure revenues surging 98 percent. "Our investments in IoT, data, and AI services across cloud and the edge position us to further accelerate growth." Under Satya Nadella, Microsoft has been transforming itself and focusing more on cloud-based services as PC shipments continue to drop.
- Applied Materials, Inc. (NASDAQ:AMAT) - Vetr Crowd Upgrades Applied Materials
The Vetr community on Tuesday upgraded Applied Materials, Inc. (NASDAQ: AMAT) from 3.5 stars (Buy) to 4.5 stars (Strong Buy). Crowd confidence was very high, with 83.3 percent of Vetr users giving the stock a Buy rating, 5.6 percent a Hold and 11.1 percent a Sell. See how crowdsourced ratings could help you time the marketApplied Materials shares were trading up 0.52 percent at $53.66. The Vetr crowd is bullish, setting a price target of $57.92, implying an 8.77 percent upside. Analysts were bullish as well with most recent target prices falling in the $65-85 range.
- Stock give up gains after rates rise on Fed statement
Stocks gave back most of their gains Wednesday after the Federal Reserve's upgraded assessment of the economy sent rates shooting higher. The S&P 500 turned negative after the central bank's statement was released. Heading into the announcement, the 30-stock index was trading 148 points higher. Earlier, the Dow, S&P 500 and Nasdaq were trading sharply higher, rebounding from a sharp two-day sell-off. The major indexes fell sharply in the previous two sessions, with the Dow falling more than 500 points in that time period.
- How financial markets performed during the Yellen Fed years
© Provided by CNBC Janet Yellen, Chair of the Federal Reserve. Fed Chair Janet Yellen leaves her post after four years this week, and during her tenure it was smooth sailing for stocks, with tech shares doubling and financial stocks springing back to life. © Provided by CNBCSources: Reuters, FactSetIt was just over nine years ago that the Federal Reserve took the fed funds rate to zero during the financial crisis, but it was the Yellen Fed that brought it back, raising interest rates for the first time since the financial crisis in December, 2015. The Fed has since hiked four more times, and during Yellen's tenure, the S&P financials, big beneficiaries of higher rates, rose 74 percent. The 2-year Treasury yield, the one that most closely reflects Fed policy, has jumped from 0.34 percent to 2.14 percent.
- Stocks trade higher after sharp 2-day sell-off
Stocks traded higher Wednesday, rebounding from a strong two-day sell-off as corporate earnings kept beating expectations. The S&P 500 gained gained 0.25 percent, with industrials and tech as the best-performing sectors. The major indexes fell sharply in the previous two sessions, with the Dow falling more than 500 points in that time period. Rising yields have also put stocks under pressure, elevating concerns over whether higher interest rates could snuff out the bull market. Of the S&P 500 companies that had reported as of Tuesday morning, 80 percent have posted better-than-expected earnings, while 81 percent have beaten top-line estimates, according to Thomson Reuters I/B/E/S.
- Mid-Day Market Update: Cascadian Therapeutics Jumps Following Acquisition News; Bellicum Pharmaceuticals Shares Plunge
Leading and Lagging SectorsOn Wednesday, the industrial shares gained by 0.64 percent. Equities Trading DOWNBellicum Pharmaceuticals Inc (NASDAQ: BLCM) shares dropped 35 percent to $5.35 after the company reported clinical hold on BPX-501 trials in the US. The employment cost index gained 0.6 percent for the fourth quarter. The pending home sales index gained 0.5 percent for December, versus economists’ expectations for a 0.5 percent growth. Domestic crude supplies gained 6.78 million barrels for the week ended January 26, the U.S. Energy Information Administration reported.
- Dow soars 200 points at the open as stocks rebound from 2-day sell-off
© Provided by CNBC NYSE Janet Yellen U.S. stocks opened sharply higher on Wednesday, rebounding from a strong two-day sell-off as corporate earnings keep beating expectations. The major indexes fell sharply in the previous two sessions, with the Dow falling more than 500 points in that time period. Rising yields have also put stocks under pressure, elevating concerns over whether higher interest rates could snuff out the bull market. Wall Street also turned to Washington with the Federal Reserve scheduled to release its latest monetary policy decision. The report serves as a preview to the U.S. government's monthly jobs report, which is scheduled for release Friday at 8:30 a.m.
- Boeing Q4 Results Beat Estimates, Sees Strong FY18; Stock Up
Commercial Airplanes fourth-quarter revenue increased to $15.5 billion on higher planned delivery volume and mix. Defense, Space & Security fourth-quarter revenue increased to $5.5 billion primarily on higher weapons deliveries, and fourth-quarter operating margin was 10.0 percent. Global Services fourth-quarter revenue increased to $4.0 billion, reflecting growth across portfolio. It projects 2018 revenue to be in the range of $96.0 billion - $98.0 billion reflects commercial deliveries of between 810 and 815 aircraft. Wall Street currently is looking for fiscal year 2018 earnings of $11.96 per share on annual revenues of $93.45 billion.
- Greece Retail Sales Fall Further
(RTTNews) - Greece's retail sales declined for the third straight month in December, preliminary figures from the Hellenic Statistical Authority showed Thursday. Retail trade turnover dropped 1.7 percent year-over-year in December, which was worse than the 0.7 percent fall in October. Except automotive fuel, retail sales declined 2.6 percent over the year after a 1.7 percent decrease in the prior month. Retail sales volume fell at a faster pace of 2.9 percent yearly in November, following a 1.0 percent drop in October. On a monthly basis, retail trade turnover declined 0.9 percent from October, when it edged up by 0.2 percent.
- European Shares Hold Steady Ahead Of Fed Decision
In economic releases, Eurozone inflation slowed as expected in January, flash data from Eurostat revealed. Dairy Crest Group shares jumped 3.7 percent. Banco Santander gained half a percent even as the Spanish banking group reported a 4 percent fall in fourth-quarter net profit, hurt by impairments in its U.S. unit. H&M Group shares tumbled 7.2 percent. Steelmaker Arcelor Mittal declined 2 percent despite the company reporting higher annual core profits and resuming dividend payments.
- Eurozone Jobless Rate Steady At 8.7%
(RTTNews) - The euro area unemployment rate held steady at the lowest level in 8 years in December, Eurostat reported Wednesday. The jobless rate remained stable at seasonally adjusted 8.7 percent, the lowest since January 2009. The youth unemployment rate declined to 17.9 percent from 18.1 percent in November. In EU28, the unemployment rate was 7.3 percent in December, stable compared to November. This was the lowest rate registered in the region since October 2008.
- Eurozone Inflation Eases In January
(RTTNews) - Eurozone inflation slowed as expected in January, flash data from Eurostat revealed Wednesday. Inflation came in at 1.3 percent, in line with expectations, but weaker than December's 1.4 percent. Excluding energy, food, alcohol and tobacco, core inflation rose marginally to 1 percent from 0.9 percent in December. Among components, food, alcohol and tobacco climbed at a slower pace of 1.9 percent after gaining 2.1 percent in December. Likewise, energy price inflation eased to 2.1 percent from 2.9 percent.
- Taiwan GDP Growth Improves Unexpectedly In Q4
(RTTNews) - Taiwan's economic growth accelerated unexpectedly in the three months ended December, preliminary estimate from the Directorate General of Budget, Accounting & Statistics (DGBAS) showed Wednesday. Real gross domestic product advanced 3.28 percent year-over-year in the fourth quarter, faster than the 3.10 percent rise in the third quarter. Meanwhile, economists had expected the growth to ease to 2.5 percent. On the expenditure side, real private final consumption grew 2.9 percent annually in the fourth quarter, while gross capital formation declined by 4.78 percent. On a quarter-on-quarter seasonally-adjusted annualized basis, GDP expanded at a slower pace of 4.17 percent in the December quarter, following a 6.84 percent growth in the September quarter.
- France Inflation Rises In January
(RTTNews) - France inflation increased in January on higher services and energy cost, the provisional estimate from the statistical office Insee showed Wednesday. Consumer price inflation rose to 1.4 percent in January from 1.2 percent in the previous month. Inflation, based on the harmonized index of consumer prices, accelerated unexpectedly to 1.5 percent from 1.2 percent in December. Another report from Insee showed that producer prices in the French market remained flat on month in December after gaining 1.5 percent in November. Year-on-year, producer prices in domestic market climbed 1.5 percent.
- Germany's Unemployment Rate Drops Slightly
(RTTNews) - Germany's unemployment rate dropped marginally in December, data from Destatis showed Wednesday. The jobless rate fell slightly to adjusted 3.6 percent from 3.7 percent in November. Meanwhile, on an unadjusted basis, the unemployment rate rose to 3.5 percent from 3.4 percent a month ago. It was down by around 13,000 from the previous month. At the same time, the number of persons in employment increased by 67,000, or 0.2 percent from previous month in December.
- Germany's Retail Sales Fall Unexpectedly In December
(RTTNews) - Germany's retail sales declined unexpectedly in December, data from Destatis revealed Wednesday. Retail sales fell 1.9 percent year-on-year in December, in contrast to November's 4.3 percent increase. This was the biggest fall since November 2014, when sales declined 2.1 percent. On a monthly basis, retail turnover decreased more-than-expected 1.9 percent, offsetting the 1.9 percent increase in November. In the whole year of 2017, retail sales grew 2.3 percent in real terms and by 4.2 percent in nominal terms.