Stocks to invest in
1. U.S. Stock Market:
“U.S. stocks edged lower on Friday and were on track to book declines for the week, weighed down by financial and industrial sectors. At 11:06 a.m. ET (1506 GMT), the Dow Jones Industrial Average was down 29.34 points, or 0.14 percent, at 20,890.08, the S&P 500 was down 5.22 points, or 0.22 percent, at 2,389.22 and the Nasdaq Composite was down 3.35 points, or 0.05 percent, at 6,112.61.”
“U.S. stocks, Treasury yields and the dollar edged lower Friday, as the latest batch of U.S. economic data fell short of expectations. The Dow Jones Industrial Average fell 30 points, or 0.1%, to 20889 shortly after the opening bell. The S&P 500 dropped 0.1%, and the Nasdaq Composite edged up 0.1%.”
“U.S. stocks edged lower on Friday and were on track for a weekly decline as investors reacted to an uncertain political environment stemming from President Donald Trump’s firing of former FBI Director James Comey. The Dow Jones Industrial Average DJIA, -0.05% fell 41 points, or 0.2%, to 20,879. The S&P 500 SPX, -0.12% slipped 6.5 points to 2,388, a decline of 0.3%. The Nasdaq Composite Index COMP, +0.05% fell 8 points to 6,108, a decline of 0.1%.”
2. U.S. Bond Market:
“Treasury yields headed South early Friday after two key economic measures both disappointed. The yield on the 10-year note quickly fell to 2.35% from 2.38% just before the report. It had traded as high as 2.42% a day earlier.”
“U.S. stock futures edged lower Friday as quarterly results continued to pressure shares of retailers, while economic releases weighed on the dollar and Treasury yields. 10-year U.S. Treasury yields edged down slightly to 2.355% from 2.400% Thursday. Yields move inversely to prices.”
“The U.S. Treasuries rallied on expectations of a rise in the country’s retail sales for the month of April, scheduled to be held later in the day. The yield on the benchmark 10-year Treasury slumped nearly 3 basis points to 2.37 percent, the super-long 30-year bond yields also plunged nearly 3 basis points to 3.01 percent while the yield on short-term 2-year note traded nearly 2 basis points lower at 1.33 percent.”
3. FX Markets:
“The U.S. dollar tilted slightly lower Friday, with updates on retail sales and inflation closing out what will still likely be a notable, winning week for the greenback’s performance. One euro EURUSD, +0.5524% fetched $1.0871, a touch higher than $1.0863 late Thursday in New York. Against the yen, USDJPY, -0.40% the dollar slipped to ¥113.78 from ¥113.87. On Friday, sterling GBPUSD, -0.0155% traded at $1.2867, down from $1.2887 late Thursday in New York.”
“The dollar tumbled after a slew of US data. The US dollar index is down by 0.3% at 99.34 as of 8:51 a.m. ET. The euro is up by 0.5% at 1.0914 against the dollar after data showed German GDP rose by 0.6% in the first quarter, in line with expectations, and German CPI held flat for April, also in line with expectations. The Japanese yen is higher by 0.5% at 113.37 per dollar. The British pound is little changed at 1.2885 against the dollar.”
“The Pound to Dollar recovered on Friday after the release of US Inflation and Retail Sales data undershot expectations and raised questions about the strength of the US recovery. GBP/USD recovered from the 1.2850 post-FOMC lows to highs of 1.2880 at the time of writing, in the ten minutes after the release of the data.”
“From March 10 through April 11, the Japanese yen was the strongest currency in the world. It appreciated 4.7% against the dollar. Among the majors, sterling can in second place with a 2.7% gain. Among emerging market currencies, the yen edged past the Mexican peso’s 4.4% rise. That was then. This is now. Since April 11, the yen is the world’s weakest currency. It lost 3.6% against the greenback. The Canadian dollar is a close second with a 3.3% decline. In the emerging market space, the Chilean peso has been the worst performer, nursing a 2.7% loss.”
“Oil prices consolidated on Friday with a correction from sharp gains seen after this week’s inventories data as markets increasingly focussed on the May 25th OPEC meeting. WTI oil prices hit selling interest close to $48.20 p/b during US trading on Thursday and edged back below the $48.00 level as prices corrected from the sharp gains seen following the inventories data earlier in the week. Prices consolidated just below $48.00 in Asian trading with a lack of fresh incentives.”
“Gold tried for its third-straight winning session on Friday, a feat it had not achieved since mid-April, as the dollar drifted lower ahead of U.S. retail sales and inflation data. Gold for June GCM7, +0.46% rose by $4.70, or 0.4%, to $1,229 an ounce. It is on track to finish the week little changed. Gold has been declining in the face of prospects for higher interest rates and as riskier investments, including stocks, remain in favor. July silver SIN7, +1.08% rose 13 cents or 0.8%, to $16.39 an ounce. On a continuous contract basis, silver is also poised for its third-straight win, which hasn’t happened since mid-April. It looks to wrap up the week about where it finished last Friday.”
“SILVER PRICES rallied with gold and both metals recovered last week’s closing level in US Dollar terms in London trade on Friday. Silver prices rose above $16.40 per ounce as government bonds rose with world stock markets and commodities ahead of key US data on retail sales and consumer-price inflation.”
5. Market Movers:
Trade Desk Inc (NASDAQ:TTD), which offers a technology platform for ad buyers globally, has secured a $200 million credit facility. The administrative agent and lead arranger of the credit facility was Citibank N.A. Other additional lenders included Bank Hapaolim, Union Bank, US Bank, East West Bank and City National Bank. With the facility, Trade Desk will be able to restate and amend the firm’s present outstanding credit facility as the company will be able to borrow amounts totaling $200 million. This will be at a yearly rate of LIBOR or prime. There will also be an applicable margin. Some of the purposes the facility could be put to includes acquisitions, working capital as well as general corporate purposes.
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General Electric Company (NYSE:GE) shares fell more than 2% Friday after the company’s stock was downgraded to “sell” from “hold” by analysts at Deutsche Bank who said that the company will be forced to cut its current 24 cents per share dividend and lower its earnings guidance in the coming years. “GE’s weak cash flow has become worse in recent quarters … The company appears to be operating relatively ‘close to the line’ in terms of sufficient cash generation to continue to fund such a robust dividend and share repurchase program,” analyst John Inch said. GE shares fell 2.5% to $28.16.
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Twitter Inc (NYSE:TWTR) is trumping bears off and on the TWTR stock chart … but if you’re looking to make your trading account great again, using a Twitter spread in lieu of shares is definitely worth the time spent. Let me explain. TWTR stock is back. Long pronounced dead by bears and the platform of choice for our fair nation’s Commander-in-Chief, Twitter recently issued a rousingly good report. For their part, traders bid up shares of Twitter by 7.50% in the immediate aftermath while adding 24% over the five-day period.
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A trial of AstraZeneca plc (ADR) (NYSE:AZN)‘s key immunotherapy drug durvalumab showed it reduced disease progression in lung cancer patients, sending the company’s shares higher and giving it a lead over rivals as it seeks to transform its oncology business. The trial results are an unexpectedly early boost for the product, known commercially as Imfinzi, which the company hopes will become a blockbuster drug with sales in the billions of dollars. It sets AstraZeneca apart from rivals Merck and Roche, whose equivalent drugs are years behind in the race for similar treatments against lung cancer. Shares in AstraZeneca extended gains to be up by 9.1 percent by mid-afternoon, the top FTSE 100 riser, hitting its highest level since September 2016 and set for its biggest one day rise since May 2014.
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Nordstrom, Inc. (NYSE:JWN) shares were left reeling despite a first quarter that saw a beat on both the top and bottom lines. The department store, often viewed as one of the strongest company’s in a struggling retail environment, fell over 11 percent on Thursday. While comp sales fell 2.8 percent at the company’s flagship stores, a bright spot for Nordstrom was at its discount retail store Nordstrom Rack, which saw an impressive 8.7 net sales increase and a 2.3 increase in comps. Online sales made up 24 percent of total sales in the quarter.
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Traders are taking a second look at how shares of Alere Inc (NYSE:ALR) have been performing lately. A favorite tool among technical stock analysts is the moving average. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a specific period of time. Moving averages can be very useful for identifying peaks and troughs. They may also be used to help the trader figure out proper support and resistance levels for the stock. Currently, the 200-day MA is sitting at 40.88, and the 50-day is 43.14.
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Pandora Media Inc (NYSE:P) has placed itself up for sale and it believes that it will have a buyer within the next 30 days. Pandora made it officially known that it is welcoming its buyout within the next 30 days. Sources familiar with the matter told CNBC that the company believes it can attract a suitable deal in the next month. This expectation might seem too ambitious for the media streaming company. However, a recent report stated that a private equity firm called KKR invested $150 million in Pandora in exchange for a board seat and convertible preference shares.
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– Stocks to invest in