Tag: Gold (NYMEX:GC.G18.E)

Wall Street Surges On Earnings Expectations

Posted on by The INO.com Team

Hello traders everywhere. The stock market is posting new intra-day record highs again as traders turn their sights to a wave of corporate earnings. Most experts believe that earnings season will be exceptionally strong on the heels of the new U.S. Tax Code.

An early indication of this can be seen by the stronger than expected earnings from J.P. Morgan today. The most prominent U.S. lender by assets said the new tax law would help future profits by not only reducing the amount it pays the federal government but also by stimulating more business.

Shares of JP Morgan (JPM) rose 1.1%, helping lift the S&P financial index up 0.6%, after its fourth-quarter profit beat estimates.

Wells Fargo (WFC) on the other hand fell 0.8% after it set aside $3.25 billion in the fourth quarter to cover legal expenses related to probes into its mortgage and sales practices.

MarketClub's Mid-day Market Report

Key levels to watch next week: Continue reading "Wall Street Surges On Earnings Expectations" →

It's Time To Buy Alibaba

Posted on by The INO.com Team

Hello traders everywhere. Alibaba Group Holding Limited (NYSE:BABA) issued a NEW green monthly Trade Triangle on Tuesday (1/9/18) which means it could be time to go long the stock. Now, if you missed the alert or didn't see the Trade Triangle yesterday, the price action today has given you the perfect opportunity to enter the trade at a lower/better level on a bit of a pullback.

Alibaba Group Holding Limited (NYSE:BABA)

I believe that Alibaba is one of the more attractive stocks of 2018 based on the fact that it is the Amazon of the East, except it is growing faster and trading cheaper than Amazon. I look for Alibaba to produce another great year on the back of a truly impressive 2017 where we saw it produce an impressive 78% gain.

Key levels to watch this week: Continue reading "It's Time To Buy Alibaba" →

Stocks Shake Off Lackluster Jobs Data

Posted on by The INO.com Team

Hello traders everywhere. U.S. job growth slowed more than expected in December due to a decline in retail employment, but a pick-up in monthly wage gains points to labor market strength that could pave the way for the Federal Reserve to increase interest rates in March.

MarketClub's Mid-day Market Report

Nonfarm payrolls increased by 148,000 jobs last month after surging by 252,000 in November, the Labor Department said on Friday. Retail payrolls decreased by 20,300 in December, the largest drop since March, despite reports of a strong holiday shopping season.

The unemployment rate was unchanged at a 17-year low of 4.1%. Economists had forecasted payrolls rising by 190,000 in December. The economy needs to create 75,000 to 100,000 jobs per month to keep up with growth in the working-age population.

Job growth surged in October and November after being held back in September by back-to-back hurricanes, which destroyed infrastructure and homes and temporarily dislocated some workers in Texas and Florida.

Key levels to watch next week: Continue reading "Stocks Shake Off Lackluster Jobs Data" →

DOW To 30,000?

Posted on by The INO.com Team

Hello traders everywhere. Luckily for us the old saying "New Year, New Me" doesn't seem to apply to the U.S. market as the DOW surpasses the 25,000 mark for the first time ever and the other major indexes soon followed, posting new records as well. This record breaking move higher was propelled by strong U.S. private jobs numbers that added to a stream of robust economic data from across the world.

President Donald Trump even weighed this morning by proclaiming that his new number for the DOW is 30,000. What do you think? Will the DOW hit 30k before then end of 2018? Or are we due for a major correction?

MarketClub's Mid-day Market Report

Key levels to watch this week: Continue reading "DOW To 30,000?" →

Gold's Strong Move Continues Into 2018

Posted on by The INO.com Team

Hello traders everywhere. Gold hit its highest levels since late September on Tuesday, extending a year-end rally that saw the metal rise 6.3% in the last three weeks of 2017. An early morning drop by the Dollar helped drive gold prices above $1,315 an ounce in early trading.

The weaker dollar, which posted its most significant annual drop since 2003 last year, helped to lift gold by more than 11% in 2017. The metal surged $78 an ounce over the last three weeks of the year alone.

MarketClub's Mid-day Market Report

After ending the year on a down note, falling from an all-time high above $19,000, Bitcoin is fighting back this afternoon after opening the year lower on Monday and is currently trading up 3% on the day trading at the $13,800 level.

Key levels to watch this week: Continue reading "Gold's Strong Move Continues Into 2018" →