We would love to hear your thoughts about our site and services, please take our survey here.
Really not much point in commenting on the weeks trading suffice to say the bears are in control and the stock is in need of spiritual support.
That's highly unlikely. Having had plenty of opportunity to buy investors, are in a quandary, and on the off chance the F/Y nos underwhelm they are primed to be sellers of the stock.
But having been a die hard bull for nigh on 2 years I see no reason to desert the company on short sellers outpacing buyers on one weeks evidence.
I think investors have been caught in the headlights and refuse to press the up switch for a clearer long-term view. I'm a buyer and remain on the bull tack come what may!
Wk 15
820 - 840
L/yr 520
High 935
Low 443
7/88 113
-------
T/trds 50
T/vols 33,000
Buys 12,150
Sells 20,850
Sell% 63
Av trd 657
Av trd £ 500
------
Ytd
Msi -5%
100 +3%
250 u/c
All +4%
Aim -1%
---
Gold +15%
Oil +17%
Palm +22%
---------
Morning all.
Big tech pulled the broader mrkt out of its slide yesterday led by the Nsdq hitting a record close. Apple and Nvidia were both up c.4% and were responsible for most of the mrkt gains which totalled $300bn in added value to stocks.
Earnings growth for companies in the 500 is expected to jump 11% this year. Eps growth for the 500 are up 47x that of the broader mtkt over the last 17 years and since 2004 the S&P has nearly quadrupled where the MSCI is up 48%. No wonder overseas companies want to list in NY.
Globe Life stock slammed 53% on Thursday bounced back 15% yesterday. The stock had been sold down on a report from Fuzzy Panda Research who alleged multiple occurrences of insurance fraud. Morgan Stanley ($86) dropped 5% on news Fed regulators are probing how the bank vets clients who are at risk of money laundering through the banks sprawling wealth management division.
The producer price index came in below estimates providing some relief however NY Fed President dampened rate cut hopes saying there's no need for a policy change in the near term.
The big banks will kick off the reporting season today when JPMC, Citi and Wells Fargo present earnings numbers.
Nyse data
Issues 2901
Advances 1415
Declines 1379
U/c 107
NH 47
NL 28
T/vol(bn) 3•8
------------
DJ -2 (38,459)
SP +38 (5199)
NS +296 (18,308)
R2 +6 (1291)
WTI $86
10ytb 4•575%
-----------
MSCI(W) +11 (3391)
Gold Bugs +4 (267)
---------------
Latest :- Vix 15. Brent $90.
Gold $2385. Copper 4•263.
Palm$1140. Silver $28•865.
$1•254. €1•170.
FF +35. DF +50.
Morning all.
On Wall the major stock averages remained firmly negative throughout the session falling to their lowest point in almost 2 months. Bond yields spiked to 4•500% and stock index futures fell on high inflation impacting ever changing rate cut prospects now scaled back by most analysts to September.
As US consumer prices increased more than expected in March due to gas prices and higher rents for the 3rd month in a row investors turned risk averse and pulled money out of the market particularly among the small caps. Gold which has been the star performer in Q1 slipped back but bulls of gold look to a close above $2400 as their next price objective.
In a surprise announcement the giant US big box retailer Cost Co said it had sold $100m in 1 ounce gold bars between Aug & Sept. Investors should start paying attention to the retailers gold business now thought to be running at between $100m - $200m a month with physical over the counter demand growing strongly.
The Dow tumbled over 400 points taking the index to 38,462 some 1428 points below the 52 wk high of 39,889. Big tech growth stocks and profit taking among the Dow 30, where Home Depot, Intel & Goldman propped up the laggards caused the about turn in sentiment. Walmart and Chevron led the 9 gainers on the big board.
-----------
Nyse data
Issues 2894
Advances 414
Declines 2433
U/c 47
NH 36
NL 46
T/vol(bn) 3•8
------------
Latest :- Vix 16. Brent $91.
Gold $2341. Copper $4•289.
Palm $1140. Silver $28•095.
$1•254. €1•167.
FF +22. DF +28.
Morning all.
Wall St having set multiple records through Nov to March now begs the question whether inflation is cool enough to deliver cuts to int rates.
Doubts have crept in after a series of hotter than expected reports on the economy that some are even talking about the possibility of no cuts, that's down from 6 or 7 at the start of the year. This raises fears of tipping the economy into recession should the Fed dither.
Todays volumes and trades were down on average as some of the bigest gainers in the Ai frenzy gave back gains (Nvidia et al). The mrkt staged a late rally to close near par for the day as Tesla ($177) returns to favour though Boeing ($178) fell $4 on an engineers complaint the company wilfully ignored safety issues. Strongly denied by Boeing.
Among lower division stocks Tilray Brands ($2•06) a meme Canadian cannabis stock was the big loser slumping 20% on Q3 growth nos to disapoint. Moderna ($113) a mega cap star of the covid era was a bright spot gaining 6% on news of a promising early stage drug trial.
Nyse data
Issues 2895
Advances 1615
Declines 1177
U/c 103
NH 104
NL 8
T/vol(bn) 3•4
------------
DJ -9 (38,884)
SP +8 (5210)
NS +70 (28,170)
R2 +7 (1324)
WTI $85
10ytb 4•359%
-----------
MSCI(W) +4 (3412)
Gold Bugs +5 (268)
---------------
Latest :- Vix 15. Brent $90.
Gold $2357. Copper $4•305.
Palm $1140. Silver $28•215.
$1•267. €1•168.
FF +46. DF +21.
Morning all.
Celestial events aside there's a packed diary of economic data out this week. Bond yields spiked ahead of key economic & inflation data, the release of FOMC minutes and the ECB monetary policy meetings later in the week, which could also shed additional light on officials thinking on rates. Reports on US consumer and producer inflation in the month of March are scheduled for Wed and Thursday.
Wall turned in a laclustre performance trading mostly around the u/c line at the start of Q1 earnings season led by JPMC, City & Wells Fargo. On a dull day for the mrkts Tesla provided a rare boost when Musk said the company would unveil its self driving robotaxi on August 8th. Shares added $8 to $173.
Trump's Media & Tech group valued at $9bn a few weeks ago sank another 8% as fans give up on the stock. Once trading as high as $74 the stock is changing hands at $36. His paper profits have dropped around $1•6bn to c.$3bn to date. The declines are welcome news for short sellers who own approx 5m shares.
Nyse data
Issues 2910
Advances 1665
Declines 1139
U/c 106
NH 133
NL 16
T/vol(bn) 3•2
-------------
DJ -11 (38,893)
SP -2 (5202)
NS -8 (18,100)
R2 +8 (1317)
WTI $87
10ytb 4•273%
----------
MSCI(W) +6 (3409)
Gold Bugs -3 (262)
---------------
Latest :- Vix 15. Brent $91.
Gold $2343. Copper $4•273.
Palm $1135. Silver $27•885.
$1•266. €1•165.
FF -2. DF -6.
Morning all.
A good close today for Billington investors are slowly catching on and some press on Master Investor hasn't gone amiss!
Last communication from HO was on the 12th, Dec reporting
the H/Y results, the one's impacted by the 'delayed delivery' (revenues not accounted for).
Since then their's been no news to holders. While not unusual for the board to be slow coming forward, it doesn't help with investor relations. Perhaps their has been nothing to report? So let's give the board the benefit of our doubts though I suspect we have had either new orders on several fronts or add-ons since Dec '23.
Like any good poker player one keeps an ace or two up your sleeve. If the next material RNS will be the F/Y nos it better contain some aces else you can expect blood on the streets of Doncaster in June.
Stocks across Asia opened wk15 mixed despite Wall ending strongly on Friday. Tokyo followed the Street higher closing the morning session up 525 led by exporters, techs and financials. Stocks came under selling pressure towards close the 225 ending just short of 39,250.
Elsewhere in Asia HK investors were active early on pushing the Hang Seng up over 200 but profit taking sent the index lower at mid session. Dealers are only too eager to snatch profits when they can, long'term bein about 5 minutes.
In an effort to stem the 'roulette' reputation Hong Kong's leader John Lee said they were trying to lure back capital, businesses and visitors in an effort to boost the stock market which has taken a hit from China's slowdown the property crash and geo political tensions.
In Sydney stocks are narrowly better as the ASX200 moved above 7800 thanks to Gold Miners, Techs and Banks. Newmont ($40) stood out gaining more than 5% for its 9th straight gain but still well short of its year high of $52. The ASX200 was heading to 7780 after days best of 7802.
In other news Life 360 soared 17% after the family monitoring app maker said it was outpacing mrkt forecasts after drawing in 4•8m active users in Q1 but shares in Elders one of Australia's bigest companies slumped 25% after its H1 nos came in significantly below expectations due to the El Nino weather effect, lower farmgate prices and margin pressures.
Latest :- Vix 16. Brent $90.
Gold $2336. Copper $4•238.
Palm $1140. Silver $27•910.
$1•270. €1•169. 10ytb 4•427%
FF +10. DF -5.
Morning all.
DJ +307 (38,904)
SP +57 (5204)
NS +230 (18,108)
R2 +5 (1309)
WTI $87
10 y/tb 4•406%
------------
MSCI(W) +16 (3402)
Gold Bugs +8 (265)
----------------
Close :- Vix 16. Brent $91.
Gold $2329. Copper $4•340.
Palm $1140. Silver $27•600.
Yen 151•21. Yuan 7•23.
$1•264. €1•166.
FF +18. DF +35.
Morning all.
In a shortened week vols and bargains were about average for the year though investors saw little increase in the value of their beleaguered shares which still remain underwater for the year. Buyers and seller vols cancelled out on the week.
So, if past history is a guide it won't be until wk 21 we see a turnaround from the 442 low.
MSi data
Ytd
Sp 850
H 935
L 443
L/y 510
7/88 113
-------
Trades 50
T/vols 41,200
Buys 21,800
Sells 19,400
Buy% 53
Av trd 824
Av£trd 500
-----
Ytd
MSi -5%
Ftse +2%
All +3%
Aim -8%
250 u/c
---
Gold $ +13%
Palm $ +23%
Brent $ +18%
----
Evening all.
Morning Taverham that's a nice chunk to be getting on with! I feel sure come the F/Y report we will hear about contract wins not disclosed during the year for some reason. I thought anything material to the share price must be reported to the market immediately? Do defence companies get a waiver in this respect?
On Wall St stocks turned in a strong performance throughout much of the day but came under substantial pressure late on.
The major averages plummeted in the final two hours ending sharply lower nearly at their worst levels. Oils climbed on geo political tensions as Biden called for an immediate ceasefire under threat of cutting back on armaments to Israel. Defence stocks gained as the Cboe volatility index posted its highest close since Nov 1st.
Gold came off its best levels in early dealings after hitting another record high overnight at $2300 basis spot. The US military is expecting some form of retaliation from Iran adding to investor worries.
In addition there's some nervousness ahead of the jobs report today. Economists polled by Reuters expect non farm payrolls in March to fall to 200,000 from 275,000 in Feb while unemployment rate will likely remain at 3•9%.
Nyse data
Issues 2898
Advances 975
Declines 1836
U/c 87
NH 225
NL 16
T/vol(bn) 4•1
------------
DJ -530 (38,597)
SP -64 (5147)
NS -281 (17,879)
R2 -11 (1303)
WTI $87
10ytb 4•312%
-----------
MSCI(W) -23 (3386)
Gold Bugs -4 (257)
---------------
Latest :- Vix 16. Brent $91.
Gold $2280. Copper $4•187.
Palm $1150. Silver $26•665.
$1•263. €1•166.
FF -88. DF +41.
Morning all.
On Wall St stocks recovered from early losses spending most of the day in positive territory. The Dow failed to breach 40,000 as buying interest waned towards the close the major averages ending narrowly mixed.
There was little reaction from the mrkts to Powell indicating the Fed will stick to its wait-and-see approach to rate cuts. Dealers expect the next 25bp cut to be in June.
Nyse data
Issues 2897
Advances 1668
Declines 1143
U/c 86
NH 170
NL 36
T/vol(bn) 3•7
-------------
DJ -43 (39,127)
SP +6 (5211)
NS +38 (18,160)
R2 +7 (1315)
WTI $86
10ytb 4•367%
-----------
MSCI(W) +6 (3410)
Gold Bugs +6 (261)
---------------
Latest :- Vix 14. Brent $90.
Gold $2298. Copper $4•230.
Palm $1160. Silver $27•185.
$1•265. €1•167.
FF +10. DF +74.
Morning all.
The ftse 100 is up 2•6% ytd thanx to just 5 stocks providing 80% of the gains.
* GSK
* RR
* BP
* BAE
* RELX
The Euro stoxx 50 index is up 12% ytd.
The S&P fell 38 after hitting an all-time high last week. Other indexes did worse the Dow sank nearly 400 and the Nsdq fell 156 while the Russell small caps tumbled 2%. Stocks came off their lows in late trades.
Fed officials have said they need further confirmation inflation is heading sustainably downwards before acting on further cuts as a surprisingly strong report on US manufacturing showed a return to growth after 16 straight months of contraction hurt those expectations. Dealers now think at best 2 rate cuts this year due to the resilience of the economy.
Health Care stocks led the mrkts down on profit concerns after the Govt failed to boost payments for private Medicare plans as usual. Humana tumbled 13% to $304 and CVS off 7% to $74. Tesla ($166) dropped 5% after after posting a drop in sales and deliveries in Q1 (387,000) / (433,000) as competition from China and Western auto makers are into demand. Tesla stock on many broker 'sell lists' is off 33% ytd but still ranked in the top 20 global companies by mrkt capital at no 15 ($531bn).
Among the few gainers were oil and gas stocks, Exxon ($120) up 2% and Marathon Oil ($29) rose c.4% as crude jumped over $85 on news reports that the Iranian Consulate in Damascus was destroyed by an Israeli missile killing twelve including two generals and five officers.
Gold, being the only store of value in a deflating economy and a property meltdown, has seen Chinese buyers and Central Banks piling in pushing the price towards $2300 on safe haven demand and bullish chart action. In January gold traded at $2060.
-------
Nyse data
Issues 2901
Advances 704
Declines 2128
U/c 69
NH 103
NL 38
T/vol(bn) 3•9
------------
Latest :- Vix 15. Brent $89.
Gold $2284. Copper $4•097.
Palm $1105. Silver $26•430.
$1•258. €1•167.
FF -27. DF -65.
Morning all.
So what's new?
DJ -240 (39,567)
SP -11 (5244)
NS +39 (18293)
R2 -14 (1331)
WTI $84
10ytb 4•310%
-----------
MSCI(W) -13 (3425)
Gold Bugs +5 (252)
---------------
Latest :- Vix 13. Brent $88.
Gold $2259. Copper $4•056.
Palm $1105. Silver $25•435.
$1•254. €1•168.
FF -7. DF-112.
Morning all.
Asian mrkts are trading mostly lower today following the lack of any major news from global markets which were closed for Good Friday.
Europe will be closed today for the Easter Bank Holiday though NY will open later on.
In China gains were seen after domestic data showed the manufacturers purchasing index expanded in March for the first time since Sept. The Shanghai Composite was up 31 at mid'day and the junior Shenzen ahead by 40.
Japan is trading much lower today after opening up strongly currently the 225 is off 473 after nearly 700 lower earlier due to weak domestic economic data & business confidence falling for the first time in a year as factory activity contracted for the 10th straight month. Equities suffered losses across the board led by industrials and financials.
Elsewhere S.Korea, KL and Singapore trade better while Indonesia and Taiwan are both in the red. Hong-Kong and NZ are closed for Easter.
Gold closed earlier at near record highs solidly above $2220 and continues to push ahead as Central Banks reduce their holdings of US Treasuries while simultaneously increasing their percentage of reserves allocated to gold.
Latest :- Vix 13. Brent $87.
Gold $2262. Copper 4•050.
Palm $1105. Silver $25•315.
$1•263. €1•171. WTI 4•198%.
FF +38. DF +174.
Morning all.
MSi £134m obviously!
Ftse All Share Ranking (unofficial guide) as at close Thursday 28th, March 2024.
1) Shell £169•6bn
2) Azn £166•0bn
3) HSBC £118•0bn
4) ULVR £99•4bn
5) BP £84•2bn
----------------
536=) Msi £13•4m
618=) Huddled Grp £7m
-------------------