Tag: NASDAQ (NASDAQ:COMP)

Earnings Outweigh Trump's Trade Remarks

Posted on by The INO.com Team

Hello traders everywhere. Solid earnings results for the likes of Microsoft Corp. (MSFT) and Honeywell International Inc. (HON) have helped to offset the latest round of tough trade war talk from President Trump.

President Donald Trump said he’s "ready to go" with tariffs on $500 billion of Chinese imports, saying the U.S. has been taken advantage of for too long.

"I'm not doing this for politics. I'm doing this to do the right thing for our country," Trump said in a CNBC interview with Joe Kernen on "Squawk Box" that aired Friday. "We are being taken advantage of and I don't like it."

Microsoft Corp. (MSFT) was rising 2% on Friday after the software giant posted better-than-expected fiscal fourth-quarter earnings on the surging strength of its cloud computing business. Microsoft reported adjusted earnings of $1.13 a share in the quarter, topping forecasts of $1.07. Revenue in the period rose 17.5% to $30.09 billion and also beat analysts' estimates. Driving the earnings beat and the revenue jump in the fourth quarter was a 93% increase in sales for Microsoft's flagship Azure clouding computing business, and solid growth for its productivity and business processes unit, which includes its Office 365 suite, where sales rose 13.1% to $9.67 billion.

Trumps Trade Remarks

Honeywell International Inc. (HON) reported better-than-expected results for second-quarter 2018. Adjusted earnings in the reported quarter came in at $2.12 per share, outpacing the analysts' estimate of $2.01. The bottom line also improved 18% year over year. This upside primarily stemmed from the company's stellar operational performance during the quarter. Revenues of $10,919 million in the second quarter surpassed the Zacks Consensus Estimate of $10,776 million. The top line also grew 8% year over year. Organic revenues improved 6% on an annualized basis. Continue reading "Earnings Outweigh Trump's Trade Remarks" →

S&P 500 Hovers Near Five Month High

Posted on by The INO.com Team

Hello traders everywhere. As we hit the middle of July and the doldrums of summer the S&P 500 is hovering near a new five-month of 2,835.96, presently trading at the 2,815.00 level and up roughly 3.5% on the month. The move higher has been propelled by a positive earnings season, for the most part, led by the big banks. Morgan Stanley (MS) rounded off earnings from big banks, gaining 3% after its profit topped analysts' estimates on gains in fixed income and equities trading businesses.

The DOW remains to trail the S&P needing to get to above 26,306.70 to hit a new five-month high. However, it does lead the S&P 500 with a monthly gain of 3.78% on the month so far. But the real leader of the bunch remains to be the NASDAQ, which is trading near all-time highs at the 7,800 level and looking to head higher with a monthly gain over 4.4% at the moment.

Can the S&P 500 catch the NASDAQ this month as the tech sector stumbles?

Key Levels To Watch This Week:

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New Tariffs On Chinese Goods Push Stocks Lower

Posted on by The INO.com Team

Hello traders everywhere. The stock market is trading lower Wednesday after the Trump administration announced that is unleashing a new wave of tariffs on $200 billion worth of Chinese goods. The tariffs won't come into effect immediately but instead face a review process, with hearings taking place in mid-to-late August. The announcement came just days after both nations imposed $34 billion worth of tariffs on each other.

New Tariffs Chinese Goods

The Dow has fallen over 190 points as we enter afternoon trading, with Caterpillar as the biggest decliner. The S&P 500 has dropped 0.65% as energy, materials, and industrials dropped. The Nasdaq also declined 0.60%.

Key Levels To Watch This Week:

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DOW Jumps As Banks Rally

Posted on by The INO.com Team

Hello traders everywhere. Banks rally and send the DOW up over 300 pts at it's the highest level today. The reason for the optimism, dissipating trade war fears and high expectations for good earnings with earnings season about to kick off on Friday with JPMorgan Chase & Co. (JPM), Wells Fargo & Company (WFC) and Citigroup Inc. (C) reporting on their second quarter of 2018.

Stocks also got a boost from a positive jobs report released on Friday, which revealed that the U.S. economy added 213,000 jobs in June, beating expectations. The news helped divert attention away from the ongoing trade war between the U.S. and its most prominent partners.

Banks rally

Last week, the U.S. slapped tariffs on $34 billion of Chinese goods. China responded to the tariffs by imposing its retaliatory levies on imports from the States. But that has had little effect on the markets to start the week, and most analysts believe that the "Trade War" has already been priced into the stock market. Continue reading "DOW Jumps As Banks Rally" →

Crude Oil Outperforms Stock Market

Posted on by The INO.com Team

Hello traders everywhere. Crude oil outperforms stock market for the week, that's not a statement that you hear very often, but it's true this week as crude is set to have it's biggest weekly gain in over two months posting a +8% gain on the week. The reason, shrinking U.S. stockpiles, supply disruptions from Canada to Libya, tensions between Iran and the U.S. and last week's decision by the Organization of Petroleum Exporting Countries (OPEC) and allied producers to relax supply limits.

As for Iran, if the recent re-imposition of U.S. sanctions succeeds in driving the Islamic Republic's oil exports close to zero, crude could surge to $100 a barrel, according to many analysts.

The Energy Information Administration (EIA) reported on Wednesday that national crude stockpiles fell by 9.89 million barrels last week, the most significant decline since September 2016. Inventories in the storage hub at Cushing, Oklahoma, also declined, while domestic crude exports surged to a record.

Crude Oil Outperforms Stock Market

The stock market is closing out the week on a high note with the DOW, S&P 500 and NASDAQ all higher on the day getting a boost from the big banks and Nike, but it's still headed for weekly losses as traders are still skittish over global trade frictions.

The NASDAQ is leading the way lower with a weekly loss of -1.8% followed by the S&P 500 -.7% and the DOW standing at -.60%. The U.S. Dollar is posting a minimal gain of +.08% rebounding from last weeks loss. Gold continues to be under pressure from the bears and is down -1.23% on the week continuing it's weekly loss streak now standing at three weeks. And last, but not least we have Bitcoin which remains to be caught in the bear trap losing another -4.0% on the week and trading below the $6,000 level as we wrap up the week.

Key Levels To Watch Nest Week:

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