Tag: Gold (NYMEX:GC.M18.E)

Interest Rates On The Rise

Posted on by The INO.com Team

Hello traders everywhere. The 10-year U.S. Treasury yield has risen above 3% for the first time since January of 2014, signaling that higher interest rates are ahead for the U.S. bond market as the Federal Reserve is intent on boosting interest rates after keeping them at historically low levels for some time. The yield, the benchmark for everything from U.S. mortgages to dollar bonds in developing nations, climbed as high as 3.0014% in morning trading, before slipping back below 3% to 2.979% in the early afternoon.

As the 10-year yield broke three percent the stock market turned lower with the DOW losing over 1% on the day with the S&P 500 losing .80% and the NASDAQ falling 1.4% as tech is posting heavy losses.

Interest Rates Rise

Speaking of tech, the FAANG stocks are all lower on the day with Alphabet leading the way. Alphabet (Google) is posting a loss of over 4.5% on the day after reporting earnings where they made a lot of money, but investors are worried about rising expenses.

The other FAANG members are posting steep losses as well. Facebook declined 3.4%, Amazon 3.8%, Netflix declined 4.2% and Apple is losing just a tad over 1% on the day.

Key Levels To Watch This Week:

S&P 500 (CME:SP500): 2,553.80
Dow (INDEX:DJI): 23,344.52
NASDAQ (NASDAQ:COMP): 6,805.90
Gold (NYMEX:GC.M18.E): 1,337.60
Crude Oil (NYMEX:CL.M18.E): 67.14
U.S. Dollar (NYBOT:DX.M18.E): 88.94
Bitcoin (CME:BRTI): 6,616.14

Every Success,
Jeremy Lutz
INO.com and MarketClub.com

Late Week Market Sell-Off Dampens Mood

Posted on by The INO.com Team

Hello traders everywhere. Apple Inc. (AAPL) is leading declines in the technology sector which in turn is dragging down U.S. indexes ending what looked to be a positive week for stocks mid-week. Energy companies are also taking a bit of a hit from lower oil prices after President Donald Trump's criticism on OPEC in a tweet earlier in the morning saying that:

"Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted"!

Market Sell-Off

The S&P 500, DOW and NASDAQ are all trying to post small gains for the week overall, which would give the three indexes their first back to back weekly gains since mid-February.

The almighty dollar is ending a strong week with a gain of .58% erasing the losses that it saw last week on the back of rising interest rates. Treasury yields are headed toward 2.95% on the week. Continue reading "Late Week Market Sell-Off Dampens Mood" →

It's All About Corporate Earnings

Posted on by The INO.com Team

Hello traders everywhere. It's all about corporate earnings this week vs. the geopolitical tensions of the past few weeks to a month. Gone are the talks of trade tariffs and possible conflicts as the markets turn to outstanding earnings reports from the big names in tech and the big banks.

This push higher this week has given life to the markets and helped the both the DOW and S&P 500 issue new green weekly Trade Triangles indicating that the projected long-term downtrend has moved to a sidelines position based on the Chart Analysis Scores. We will now turn our attention to the next major hurdle and that's the issuance of new green monthly Trade Triangles for both indexes.

As for the NASDAQ, it too issued a new green weekly Trade Triangle signaling that the long-term trend has resumed and is looking to head higher based on a strong Chart Analysis Score of +100.

Syria Fears Ease

Crude oil continues higher hitting a new high this month, it's the highest level since 2014. The reason for the gains today is an Energy Information Administration (EIA) report that showed shrinking American petroleum surpluses and the first crude withdrawal from the largest U.S. storage complex in six weeks. The U.S. draw-downs underlined optimism that an OPEC-led effort to curb global supplies will be reinforced later this week when the cartel and allied producers gather in Saudi Arabia. Continue reading "It's All About Corporate Earnings" →

Stocks Rise As Syria Fears Ease

Posted on by The INO.com Team

Hello traders everywhere. Wall Street is off to a good start this week as fears of an escalating conflict in Syria have eased. The DOW has gained as much as 200 points, with Merck & Co. Inc. (MRK) rising more than 2% on news that their immunotherapy drug Keytruda plus chemotherapy significantly improved overall survival in newly-diagnosed patients with advanced non-small cell lung cancer. The S&P 500 has climbed 0.75%, and the Nasdaq gaining 0.65% in the morning session.

On Saturday, the U.S. military conducted precision missile strikes against the Syrian government as a response to a chemical attack carried out in the country. The attack was conducted in conjunction with France and the U.K. The Pentagon described the U.S.-led strikes as a "justified, legitimate and proportionate response" to the Syrian regime's continued use of chemical weapons.

Syria Fears Ease

Crude oil has dropped from the three-year high that it posted to end the week as concerns about conflicts in the Middle East eased. Oil had dropped as much as 1.9% on the day but has settled around the $66.50 level, down about .55%. Continue reading "Stocks Rise As Syria Fears Ease" →

Global Tensions Push Oil To Three Year High

Posted on by The INO.com Team

Hello traders everywhere. Global tensions have Rocked the oil markets today sending crude oil to a three year on the back of a +3% gain in Tuesday's trade. WTI crude is trading above the $66, a +2% gain, breaking through the previous levels of resistance were sitting just shy of $65. The last time the price oil was this high was in 2014.

The reason for the sharp upward move stems from comments by Russia and the United States over the conflict in Syria. Russia's ambassador to Lebanon told local media that Russia would shoot down American missiles headed Syria's way. This follows an alleged chemical weapons attack by President Bashar Assad that killed dozens in a rebel-held area over the weekend.

Global tensions

President Trump responded via Twitter saying:

"Russia vows to shoot down any and all missiles fired at Syria. Get ready Russia, because they will be coming, nice and new and 'smart!' You shouldn't be partners with a Gas Killing Animal who kills his people and enjoys it!"

To add to that, the Energy Information Administration (EIA) data on Wednesday showed swelling surpluses at the biggest domestic storage complex as well as nationwide last week. American crude production also climbed, while exports of American oil declined to 1.21 million barrels a day.

Key Levels To Watch This Week:

S&P 500 (CME:SP500): 2,741.38
Dow (INDEX:DJI): 24,977.65
NASDAQ (NASDAQ:COMP): 6,630.67
Gold (NYMEX:GC.M18.E): 1,330.10
Crude Oil (NYMEX:CL.K18.E): 61.93
U.S. Dollar (NYBOT:DX.M18.E): 88.53
Bitcoin (CME:BRTI): 6,194.46

Every Success,
Jeremy Lutz
INO.com and MarketClub.com