Tech stocks up in Wall Street – RealReal +12 %

The tech stocks soared up in Tuesday trading in New York. Apple´s (AAPL) stock closed up 4,23 % to 208,97 dollars due to the tariffs delays in the US China trade negotiations. Also retail gained and for example Amazon (AMZN) closed up 2,21 % to 1824 dollars. The tariffs delay is expected to help the Christmas shopping as well.

The re-used luxury online shop RealReal gained over 12 % in trading. The company published its second quarterly figures ending June 30th. According to the press release the total revenue gained 51 % to 71 million dollars from a year earlier and the average order value was 452 dollars. The net loss was 26,8 million dollars compared to the loss of 17,6 million dollars a year ago. The company had the IPO in the beginning of July.

Tesla (TSLA) was also up, 2,62 % to 235 dollars and Ralph Lauren (RL) also up 1,61 % to 93,41 dollars. The retail company Macy´s was also up, 0,41 % to 19,36 dollars. The company is to publish its figures on Wednesday.

Dow Jones- index closed up 1,44 % to 26 279 points, the large S&P 500 -index closed up 1,48 % to 2926 points and tech-index Nasdaq closed 1,95 % to 8016 points. Semiconductor sector index closed up 2,95 % to 1489 points.

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Stocks tumbled in NY – hit by trade war

The financial markets tumbled today globally as a response to the tightening trade war between the US and China trade. The global economy growth was the main concern in the markets while the Chinese currency, yuan decreased to its lowest levels in decade, to around 7 per dollar. Last week the US President Donald Trump informed about the new tariffs in the China trade.

Dow Jones index closed down 2,9 % to 25 717 points, the S&P 500 index closed down 2,99 % to 2844 points and the tech-Nasdaq index down 3,47 % to 7726 points. The gold and Japanese yen increased.

Apple (AAPL) closed down 5,23 % to 193,34 dollars, ride-hailing company Uber (UBER)closed down 3,34 % to 39,05 dollars, IBM (IBM) closed down 4,41 % to 140,76 dollars, Microsoft (MSFT) closed down 3,43 % to 132,21 dollars and Walmart down 3,27 % 105,82 dollars. Luxury company Ralph Lauren (RL) closed also down 3,19 % to 95,73 dollars. The electric car manufacturer Tesla (TSLA) closed down 2,57 % to 228,32 dollars.

According to Bloomberg market analyst, the trade war could hit US jobs as early as the next two months. This would also increase the global pressures for more rate cuts by the central banks in Europe and in the US. Last week the Fed lowered its fed funds by 25 basis points for the first time since the financial crisis.

In Europe the stocks were also down. In London the FTSE 100 index closed down 2,47 % to 7223 points, in Germany the DAX-index closed down 1,80% to 11 658 points and in France the CAC 40 -index closed down 2,19 % to 5241 points.

In Asia the Hang Seng closed down 2,85 % to 26151 points in Hong Kong and the Nikkei 225 index closed down 1,74 % to 20720 points.

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US IPOs are expected to continue- WSJ

The recent ride-hailing IPOs have not caused the delaying of other IPOs in the row, writes the Wall Street Journal today. Although the Uber (Uber)  and Lyft (Lyft) share prices are down 7 % and 25 % respectively from their IPO prices, the IPO window is still open.

The newspaper reminds that for example Zoom Video Communications (ZM) and the plant based protein food producer Beyond Meet (BYND) were up 150 % and 257 % from their offerings. Pinterest (PINS) fell on Friday after the quarterly report, but it is up 41 from its IPO level.

Other listings on Friday, the content delivery company Fastly (FSLY) ended nearly up 50 % to 23,99 dollars and the Chinese “Starbucks coffee” Luckin Coffee (LK) also had a strong market debut.

According to WSJ and Dealogic, the IPO May listings totalled so far 15,22 billion dollars, while the sum was 6,23 billion dollars in April and 4,79 billion dollars in March.

Companies, that are still on the pipeline, are for example cybersecurity Crowd Stick and messaging company Slack Technologies, hotel reservations Airbnb and office space rental company WeWork.

On Friday the SP& 500 index ended down 0,58 % to 2859 points, the Dow Jones ended down 0,38 % to 25 764 points and Nasdaq down 1,04 %  to 7816 points.

In Asia the Nikkei rose 0,89 % to 21 250 points in Tokyo, while in Hong Kong the Hang Seng index went down 1,16 % to 27 946 points.

In Europe, the German Dax-index ended down 0,58 % to 12 238 points and in London the FTSE 100 index also down 0,07 % to 7348 points.

The sterling traded at 1,27 dollars and at 1,139 euros. The US dollar was trading at 109,98 yens.

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Stocks ended up – positive trade talks

Financial markets ended up for the week in Wall Street. Dow Jones index was up 1,74 % to 25883 points, S&P 500 -index 1,09 % to 2775 points and Nasdaq-index 0,61 % to 7472 points.

For the Friday trading, the positive outlook for the US-China trade talks help lifted the markets as well as the good US consumer outlook. On the other hand, the national emergency regarding the financing of the border wall between US-Mexico did not have any bigger impact.

In Europe the Brexit-discussion continued and according to Bloomberg News, the Irish Foreign Minister Simon Coveney had said that the EU will offer a package to help the UK PM Theresa May to get the deal but would not accept “unreasonable British demands”. In the industry, the car manufacturer Porsche (PAH3) said that it is possible that a hard Brexit might lift the UK car prices by 10 %. The Brexit talks will continue next week.

In London, the FTSE index was up 0,55 % to 7236 points and in Germany the DAX-index was up 1,99% to 11299 points and in France ended up 1,79 % to 5153 points. During one month, the Dax has gained 3,75 % , CAC 5,69 % and FTSE 3,85%.

In Asia, the Nikkei-index was down 1,13 % to 20900 points and in HongKong the HangSeng index was also down 1,87% to 27900 points.

In the forex markets, the euro was trading quite flat at 1,129 dollars, but the UK sterling was up 0,67% to 1,288 dollars.

The Stock Exchanges will be closed on Monday in the US due to the President´s Day.

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Brexit: No more time – new backstop?

After UK Brexit votes  this week, the situation with the UK- EU is still the same. No new news  – this means that solution is not ready yet. The UK Parliament agreed that the deal could be done if the Irish border issue, the backstop, would have a new approach. What that would be, is still unclear and the EU has said  on Wednesday that there would be no new agreements.

The UK Parliament voted that no new timeline was given, which means that the March 29th exit-day is still valid. Prime Minister Theresa May was granted a mandate to negotiate with the EU collaques about the Irish border issue. According to news agencies, she is not travelling to Brussels this week any more.

The UK Parliament is having the Brexit-vote on Valentine´s Day, the February 14th and according to Bloomberg, some EU diplomats are expecting to have the EU summit about the Brexit on the March 21-22.

The financial markets have seen increasing prices in spite of the turbulence in this Brexit-matter. For example in London the FTSE 100 -index ended up 1,58 % to 6941 points, but also the Wall Street increased to new level due to the news that the Federal Reserve will be “patient” with the future interest-rates moves. The Feds Funds Rate is now at 2,25 – 2,50 percent and the Fed is still having the 2 percent inflation target.

Dow Jones was up 1,61 % to 24976 points, the S&P 500-index was up 1,51 % to 2679 points and technology-index Nasdaq was up 2,01 % to 7169 points.

The US-China tradetalks are having a new chapter when the Chinese economic advisor, Vice Premier Liu He is meeting with the US Treasury Secretary Steven Mnuchin today and tomorrow.

In Asia, the stockmarkets were mixed while the HangSeng increased by 0,40 % to 27642 points and the Nikkei-index in Tokio decreased by 0,52 % to 20 556 points.

 

 

 

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Stocks up in Wall Street – Brexit talks continued

Stocks ended up in Wall Street on Friday. All the three major indices gained over 1 % because of the Bloomberg news that China has agreed to buy US goods by a value of 1 trillion dollars in order to reduce the US trade surplus to zero by 2024. Last year the trade surplus was 323 billion dollars.

Dow Jones – index gained 1,38 % and ended to 24706 points, S&P 500 -index gained 1,32 % and ended to 2670 points and Nasdaq 1,03 % to 7157 points. On Monday the markets will be closed due to Martin Luther King Jr holiday.

In London the Brexit talks continued and PM Theresa May had talks with EU-leaders and she met also other members of her Cabinet. According to Bloomberg she will have to present a new plan on Monday in the Parliament. The House of Commons will vote on different Brexit plans on January 29th. The stock markets ended up in London City and FT 100 -index gained 1,95 % to 6968 points.

In Germany the DAX index ended up 2,63 % to 11205 points and in France the CAC 40-index 1,70 %  to 4875 points.

In Asia the Nikkei-index ended up 1,24 % to 20666 points and in Hong Kong the Hang Seng index ended up 1,25 % to 27090 points.

Euro was trading 0,21 % down to 1,136 dollars. The UK sterling was down 0,85 % to 1,28 dollars.

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Stocks to one-month high – Goldman up

The US stock markets continued their upward trend and the shareindexes reached one-month high during Wednesday trading. Two big financial companies, Goldman Sachs and Bank of America, both exceeded their earnings estimates.

Goldman Sachs reported its full year and fourth quarter earnings and according to the report, the group´s net revenues were 36,62 billion dollars and net earnings 10,46 billion dollars for the whole year 2018. The company shares jumped and lifted also Dow Jones- index and the banking sector as well.

-We are pleased with our performance for the year, achieving stronger top and bottom line results despite a challenging backdrop for our market-making businesses in the second half. For the year, we delivered double-digit revenue growth,
the highest earnings per share in the firm’s history and the strongest return on equity since 2009. We are confident that we are well positioned to support an even larger universe of clients, continue to diversify our revenue mix and deliver
strong returns for our shareholders in the years ahead, David Salomon, the CEO and Chairman of the Group said.

Dow Jones index ended up 0,90 % to 24 282 points, S&P 500 -index 0,41 % to 2623 points and Nasdaq ended up 0,39 % to 7051 points.

In London, where the UK Goverment won the confidence vote, FTSE ended down 0,47 % to 6862 points. The voting started at 7 pm local time. In Germany the DAX-index ended up 0,36 % to 10 931 points and in France the CAC-index ended up 0,51 % to 4810 points.

In Asia the Nikkei-index traded down 0,55 % to 20 442 points, while in Hong Kong the Hang Seng index ended up 0,27 % to 26 902 points.

 

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