Archives of “April 2019” month

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Nikkei 225 closes lower by 0.27% at 22,200.00

  
Analysis, Global Indices

Tokyo’s main index closes lower in tepid session for Asian equities

Nikkei 24-04

Asian stocks are not really following their US counterparts as equities are struggling in trading today. I reckon a stronger dollar overnight and concerns about the PBOC refraining from monetary easing is helping to play a role here.

That said, US equity futures are also down by 0.2% for the time being. However, as we navigate through trading this week, it’ll all boil down to key earnings releases. Today, we’ll have Facebook and Microsoft so those reports will be the bellwether for how risk will perform in North American trading later.

S&P and Nasdaq close at record levels

  
Analysis, US Market

Short of all time records but getting close

The S&P and Nasdaq are closing at record levels. The Dow is up but still shy of the highest close.
The final numbers:
  • The S&P index rose 25.66 points or 0.88% at 2933.64. The high reached 2936.31. The low reached 2908.53.  The S&P index previous high close came in at 2930.75 on September 20. The all time intraday high price was at 2940.91.
  • The Nasdaq index rose 105.55 points or 1.32% at 8120.82. The high reached 8128.87. The low extended to 8023.81. For the Nasdaq the prior high close was at 8109.688. The all time intraday high price came in at 8133.298.
  • The Dow closed at 26656.39, up 145.34 pointsor 0.55%. THe high reached 26695.96. The low extended to 26503.56.  The Dow’s highest close came in at 26828.39.  The all time intraday high reached 26951.81
Some winners today included:
  • Twitter, +15.62% (reported better earnings)
  • QUALCOMM, +5.79%
  • First Solar, +2.77%
  • Stryker, +2.60%
  • Adobe, +2.31%
  • United Technologies, +2.26%
  • Southwest air, +2.13%
  • Amazon, +1.93%
  • Intuitive Surgical, +1.91%
  • Coca-Cola, +1.71%
Some losers today included
  • Rite Aid, -7.91%
  • Albemarle, -3.3%
  • Procter & Gamble, -2.68%
  • Deutsche Bank, -2.4%
  • Verizon, -2.11%
  • Walgreens boots, -1.63%
  • Micron, -1.45%
  • General Mills, -1.43%

One of the world’s greatest investors lost $130 million on Bitcoin

  
Analysis, BITCOIN

Even the best get burned

Even the best get burned
The billionaire founder of SoftBank lost $130 million of his own money by buying Bitcoin near the peak and later selling it, according to a Dow Jones report.
Masayoshi Son has made SoftBank the fourth-largest publically traded company in Japan via investments in many tech companies including Alibaba, Sprint, Yahoo Japan.
While the loss sounds catastrophic, it’s only a small portion of Masayoshi Son’s estimate fortune of $18.8 billion. Bloomberg ranks him as the 55th richest person.
He “made the investment at the recommendation of a well-known bitcoin booster, whose investment firm SoftBank bought in 2017, the people said,” according to the report.

Gulf OPEC producers can lift output but only if there is enough demand – report

  
Analysis, Crude

OPEC and industry sources cited

  • Gulf producers can raise output following US sanctions on Iran but only if there is enough demand, according to OPEC sources cited by Reuters
  • Saudi Arabian oil output may be higher in May than April but that’s not related to Iran sanctions and it will be within the OPEC production target range.
There’s been a small uptick in oil.
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