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Tue, 25th April 2017

Anirudh Sethi Report

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Archives of “exchange traded fund” Tag

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.

Overnight US Market :Dow Closed +303 points.S&P 500 Up 32 points

The Trump Rally is back on again.

Wall Street didn’t get the nitty gritty details it wanted on policies such as tax reform and trade from President Trump Tuesday night in his speech to Congress, but the commander-in-chief’s “presidential” tone set investors at ease and they pushed the Dow up more than 300 points to a record-setting close above 21,000.

Investors are taking Trump’s measured and positive demeanor as a sign that he will have a better chance of getting his economic agenda through Congress.

In his address to a joint session of lawmakers, Trump reiterated his push for “historic tax reform” that will put American businesses on a level playing field with foreign competitors, repeated his calls for a $1 trillion infrastructure spending plan and noted that his administration has “undertaken a historic effort to massively reduce job‑crushing regulations.” The president also repeated his promise to repeal and replace Obamacare.

Wall Street was also listening for the things Trump didn’t say. He didn’t echo recent attacks on the media, complain about fake news or mention spats with celebrities and other topics considered “off message.”

Overnight US Market : Dow 11th straight record.

The Dow Jones industrial average capped off another profitable week by stretching its string of all-time closing highs to 11 sessions, its longest record-setting run since 1987.

A late-day rally propelled the Dow to its eleventh up day in a row and third straight week of gains, keeping alive the bullish vibe that has been in place since Feb. 9. Investors will quickly shift their focus to next week’s main event: President Trump’s key address to Congress Tuesday, a speech that Wall Street hopes will be laser-focused on his administration’s economic agenda.

The blue chip stock gauge, which has not finished down since Feb 8, has rallied nearly 770 points, or about 4%, in its hot streak. On Friday, after trading in negative territory for most of the day, it eked out a gain of 11.44 points to close at a record 20,821.76. The Dow’s 11-session winning streak matches a comparable run that ended back on Jan. 3, 1992, or 25 years ago.

More important, however, the Dow is chasing a string of 13 consecutive “record” closes dating back to Jan. 20, 1987

Wall Street is hoping that Trump will lay out in more detail his agenda of tax cuts for businesses and the middle class, as well as spending plans to upgrade the nation’s infrastructure. There is increasing concern among investors that Trump’s growth-friendly policies might not materialize fast enough to merit the sharp rise in stock prices.

Global stock barometer a whisker away from record peak

Global large-and-mid capitalisation stocks have climbed to within easy striking distance of setting a new all-time high for the first time in almost two years, led by a strong performance by US equities.

The MSCI all-world index, which tracks companies in 46 countries that account for 85 per cent of the investable equities market, closed on Monday at 441.14, just 0.35 per cent away from the all-time high it struck in May 2015.

The gauge has climbed by 23.5 per cent over the past 12 months, partly reflecting a sharp rebound from a fall at the start of last year.

Equity bourses around the world have been lifted by a brightening outlook for the world economy, along with a recovery in the price of oil.

World Bank economists reckon global growth will accelerate from 2.3 per cent in 2016, to 2.7 per cent this year, and 2.9 per cent the next year. The optimism has come as central banks in Europe and Asia have loosened monetary policy in a bid to spur faster growth.

In the US, the Federal Reserve has pledged to only “gradually” tighten policy. Some economists have also marked-up their estimates for the rate of expansion for the world’s biggest developed economy on expectations that Donald Trump and a Republican Congress will roll-out business-friendly policies.

Overnight US Market :Dow Closed + 97 points

Stocks closed out the week in a strong fashion Friday as the Dow, S&P 500 and Nasdaq all jumped to new all-time highs in the market’s push further into record territory.

The Dow Jones industrial average rose 96.97, or 0.5%, to close at a record 20,269.37, according to preliminary calculations. The Standard & Poor’s 500 index gained 8.23 points, or 0.4%, to 2316.10 and the Nasdaq composite index added 18.95, or 0.3%, 5734.13.  Both the S&P and Nasdaq were up for a fourth straight day.

Miners and other raw materials companies led the market rally and rising crude oil prices also gave energy companies a big boost. Investors kept their focus on strong company earnings and corporate deal news.

Investors have focused on companies quarterly results lately as they size up corporate America’s growth prospects. Earnings are on track to mark the second-consecutive quarter of growth after a losing streak of five straight quarters. Beyond earnings, investors are also eying Washington D.C. for signs the Trump administration will deliver on the promised business-friendly policy proposals that helped drive a market rally last fall, including slashing government regulations and taxes.

Benchmark U.S. crude was up 91 cents, or 1.7%, at $53.91 a barrel in New York. The contract rose 66 cents on Thursday. Brent crude, the benchmark for international oil prices, was up $1.05, or 1.9%, at $56.68 a barrel in London.