S&P 500 index hits a four year intraday high August 21, 2012 US stocks fell yesterday after the S&P 500 hit its highest level in four years as the benchmark index faced technical resistance and traders cashed in recent gains. The S&P 500 index hit 1,426.68, its highest intraday rise since May 2008. Volume has been light, as expected in August, and only three of the past [...]
Wall Street flat after six week rallying boom August 20, 2012 US stocks were flat yesterday, on signs of fatigue after a six-week run of gains, as the European Central Bank quelled speculation about the form of market intervention that may be taken to stem the region’s debt crisis. Despite the lethargic trading, Apple shares hit a new high, becoming the most valuable public company of [...]
FTSE slides lower as commodities and banks hit by economic worries August 20, 2012 BRITAIN’S top share index fell yesterday, easing further from four-month highs hit last week, weighed by a slide in banks and commodity stocks as expectations for stimulus measures in China and Europe took a slight knock. The European Central Bank sought to quash speculation about the shape of its new bond-buying plans and the Bundesbank [...]
Even dead cats can bounce back to life August 20, 2012 WHEN things go disastrously wrong, the market is always ready to obliterate a stock. It could be because of mistakes made in a company’s operations, as in the case of Carnival earlier this year when one of its liners ran aground off Italy’s west coast. It could be like Facebook’s IPO, where the price rose [...]
China and Us data fail to corrode Qe speculation August 20, 2012 FX360 THE Dow and S&P 500 are both within spitting distance of the highs achieved earlier this year. It will only take a small push for both indices to surmount these heights. After that hurdle, the bulls will have their sights on the pre-financial crisis levels of 2007 – around 14,200 and 1,575 for the [...]
THE TIPSTER | Diageo set to toast sales August 20, 2012 THE international spirits maker and brewer, Diageo, will report earnings on Thursday. Currently on the cusp of buying Jose Cuervo tequila, the share price has increased by 13 per cent over the last six months and 50 per cent year-on-year. As with its last earnings report, it appears that the majority of revenue for the [...]
Technical analysis isn’t infallible August 20, 2012 IF YOU talk to particularly dogmatic technical analysts, you often come away with the feeling that their idea of the perfect trader would have zero contact with the outside world – no City A.M., no Bloomberg and no Twitter. The ideal trader would instead fuel themselves on Fibonacci retracement points and takeaway pizza. But though [...]
Analyst picks for 20 August 2012 August 20, 2012 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short Aussie-dollar and Aussie-Kiwi, buy dollar-yen dips Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days I took profits on my core Aussie dollar-dollar short from $1.0585 last week, and the pair was reshorted at $1.0450 as it appears a top [...]
Market awaits public finance and GDP news August 19, 2012 HIGHLIGHTS for the economic week ahead will be tomorrow’s release of UK’s public finance data, followed by the revision of the second quarter’s GDP figures on Friday. While analysts fear there will only be a small surplus for the July finances figure – or possibly a loss – market watchers believe there will be some [...]
Wall Street is waiting for technical signals as doubt remains over rally August 19, 2012 IN the absence of data or policy catalysts and with the S&P 500 near four-year highs, market participants are hoping technical indicators hold the clues on whether stocks will sell off into September following a slow-speed rally. The S&P 500 is a scant 0.06 per cent away from closing at highs last seen in the [...]