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Fri, 26th May 2017

Anirudh Sethi Report

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Archives of “exchange traded fund” Tag

Overnight US Market :S&P closed at Record High

What sell-off? In a feat that has not been accomplished in more than a week, the S&P 500 on Wednesday notched a fresh record closing high.

The S&P 500 gained 0.25 per cent to 2,404, the Dow Jones Industrial Average added 0.36 per cent to 21,012.4, and the Nasdaq Composite gained 0.44 per cent to 6,163.

Last week, equities markets took a blow from rising concern over the political fortunes of US President Donald Trump.

Still, after Wednesday’s gains, the most recent bout of selling has been entirely reversed and then some. The S&P 500 index is up 7.4 per cent for the year.

Investors on Wednesday parsed through minutes from the Federal Reserve’s May meeting, which set the table for next month’s meeting, which could see it raise rates for the second time this year. Investors interpreted the news as dovish on margin, however, with the US dollar slipping 0.26 per cent against a basket of six peers.

The yield on the benchmark 10-year Treasury note fell 0.0298 per cent to 2.2502 per cent.

MSCI to make decision on China A-share inclusion on June 20

Mark your calendars China watchers.

MSCI will on June 20 announce whether it would finally include China’s domestic A-shares in its global indices.

The US index provider last June delayed for a third straight year the A-shares’ inclusion into its benchmark $1.5tn emerging markets stock index, citing regulation worries and accessibility for global investors.

Ahead of this year’s decision, China has embarked on a series of new actions aimed at addressing these concerns. Its banking regulator has launched a “regulatory windstorm” while the central bank has made the first move to ease capital controls, providing much needed liquidity to the offshore renminbi market.

Meanwhile, BlackRock has for the first time publicly backed the inclusion of onshore stocks in MSCI’s indices and Chinese officials have even criticised dividend-dodging companies, dubbed “iron cockerels”, and promised extra scrutiny.

Overnight US Market :Dow closed -41 points

S&P down -0.19%. Dow down -0.19%. Nasdaq down -0.02%

The US major stock indices are ending the session with small declines.
  • S&P was down -0.19% or -4.57 points to 2384.20. The high for the day reached 2393.68. The low for the day reached 2382.36.
  • Nasdaq was down -1.332 points or -0.02% to 6047.60. The high today reached 6074.03. The low reached 6040.707
  • The Dow fell by -40.82 points or -0.19% to 20940.51. The high today reached 20987.76. The low extended to 20926.75.
For the week, the major indices benefited from the gains from Brexit and modest follow through during the week.
  • The Nasdaq was the big winner for the week, rising by 2.32%
  • The S&P rose by 1.91%
  • The Dow rose by 1.51%.
Today is also the last day of the calendar month, and stocks are ending with gains (thanks in part, to the gains this week).
  • The Nasdaq rose by 2.30% this month
  • The S&P rose by 0.91%.
  • The Dow rose by 1.34%.
For the year (just for giggles):
  • The Nasdaq is leading the way with a 12.34% gain
  • The S&P is up 6.49% and
  • The Dow is up 5.96%.
Overall, investors in equities cannot be disappointed with the overall performance of the equity markets with 1/3 of the calendar year complete. What will the next 1/3 bring?
As posted earlier, the earnings calendar is chock-a-block with big time names that have helped propel the overall market higher including Facebook, Tesla, and Apple.

Overnight US Market :Indices can’t hold onto gains. End marginally lower.

S&P down -0.05%. Nasdaq unchanged.  Dow -0.10%

The markets got the broad brush strokes of Pres. Trumps tax plan from the team of Mnuchin and Cohn.  The stock market was not all that impressed (or the 2x +200 days already had a lot priced in).
Anyway, the US stocks was able to still stay positive until the very end when the prices dipped into the red.
At the end of the day:
  • The S&P ended down -1.16 points or -0.05% to 2387.45. The high for the day toyed with the 2400 level (high reached 2398.16). The low came in at 2386.76.
  • The Dow fell by -21.03 points or -0.10%. The high extended to 21070. The low reached 20972.27. The index closed at 20975.09.
  • The Nasdaq is ending the day down -0.265 points, unchanged on the day. The high extended to 6040.89. The low 6021.719. The close 6025.227.

Overnight US Market :Dow closed -31 points.

Not today Trump. France has an election.

The major US indices are ending the day lower but losses are somewhat modest.  Even Trumps claim that big tax cuts are coming next week did not have an impact.  France elections this week helped to keep the lid on equities.
For the day:
  • S&P ended down -0.30% to 2248.69. The high reached 2356.18. The low 2344.51. The index failed to close above the 50 day MA this week at 2357.42 despite a few tries to break back above. That is a little more bearish at the end of the week and something to watch in the early part of next week.
  • One day after closing at a record level, the Nasdaq is closing at 5910.52 down -6.254 points or -0.11%
  • The Dow fell by -30.95 points or -0.15%
For the week:
  • S&P indeix is ending the week with a gain of 0.85%
  • Nasdaq is ending with a gain of 1.82%
  • The Dow is ending up 0.46%
For the year to date:
  • S&P is up 4.91%
  • Nasdaq is up 9.8%
  • Dow is up 3.97%

Overnight US Market :Dow closed +174 points ,S&P 500 closed up 18 points

Nasdaq up 0.92%. S&P up 0.76%.  Dow up 0.86%

The US major indices are ending the day with solid gains.
The Nasdaq index is leading the way, closing at record highs today.  
More specifically, 
  • The Nasdaq is up 53.74 points or 0.92% to 5916.77
  • The S&P is also up strongly. The index is up 17.67 points or 0.76%. The index, however, could not close above its 50 day MA at 2356.38. The index is closing just below the MA at 2355.84
  • The Dow industrial average is also closing higher by 174.22 points to 20578.71. The high reached 20629.78.

Overnight US Market : Down day for the major US stock indices. S&P closes below the 50 day MA

S&P, Nasdaq and Dow.

The major US stock indices are all closing lower. Moreover the S&P index is closing below it’s 50 day MA for the first time since the 8th of November. The 50 day MA comes in at 2350.92. Yesterday, the price fell below that MA line (it also fell below on March 27th) but recovered by the close.   Today, was not so lucky as the price is not only closing below the MA line, but also closing nearer the low.
  • The Nasdaq is closing down -30.612 points or -0.52%
  • The Dow industrial average is closing down -59.44 points or -0.29%
For your guide the 50 day MA comes in 5828.43. The index settled at 5826.16 today.

Overnight US Market :Dow closed -7 points.

Wall Street failed to hang on to its modest gains on Friday as escalating tensions between the US and Russia over President Donald Trump’s surprise airstrike on Syria weighed on investor sentiment.

The S&P 500 gave up gains of as much as 0.3 per cent to end the day 0.1 per cent lower at 2,355.54. For the week, the index is down 0.3 per cent.

It’s a similar story for the Dow Jones Industrial Average, which closed largely unchanged for the day, as well as for the week at 20.656.10, after having advanced as much as 0.3 per cent earlier on Friday.

Stocks had a choppy Friday, with the major indices swinging between minor losses and gains as the markets weighed a weaker-than-expected March jobs report against Mr Trump’s latest foreign-policy shift and a terror attack in Stockholm.

Overnight US Market : Broader market up. Dow down.

S&P up +0.11%. Nasdaq up +0.38%

The major US stock indices are ending the session mixed with the broader markets up, while the more specialized Dow Industrial Average down.
  • S&P index is ending the day up 2.56 points or +0.11%
  • Nasdaq composite index is ending the day up 22.40 points or 0.38%
  • Dow Industrial Average is down -42.18 points or-0.20%
The Dow has been down 9 of the last 10 trading days. For the year it is still up 4.54% while the S&P is up 5.46% and the Nasdaq is up 9.56%.

Bitcoin price tops gold for the first time ever

The price of a bitcoin has climbed above that of a troy ounce of gold for the first time on record after the cryptocurrency enjoyed a dramatic upswing in interest since last year.

Bitcoin has jumped by nearly 33 per cent this year to trade at $1,265 on Thursday amid a surge in interest in China, where the authorities fret the digital currency is being used to facilitate capital flight from the country. Bitcoin has risen nearly 200 per cent over the past 12 months, despite efforts to curb its use in China.

Of course, comparing gold to bitcoin is arbitrary, given that the precious metal is measured in weight – a troy ounce of gold (about 31 grams) cost $1,233 on Thursday – while the virtual currency beloved of technologists is entirely ephemeral and abstract. But the cross is nonetheless symbolic of its unexpected staying power and influence in certain circles.

SEC officials on February 14 met with Tyler and Cameron Winklevoss – the bitcoin ETF’s champions – to discuss the proposal and a decision is due by March 11, according to Bloomberg.

The digital currency came close to the headline gold price in late 2013, when it spiked above $1,000 per dollar for the first time, but then quickly halved in value in 2014, traded sideways for much of 2015 before embarking on a sharp rally in the middle of last year.