Archives of “October 26, 2019” day

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Major economic releases and events for next week’s trading

  
  Analysis
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The FOMC decision and nonfarm payroll highlight the key releases and events

Monday
  • No key releases
Tuesday
  • RBA Gov. low speaks 2:45 AM ET/0645 GMT
  • US conference Board consumer confidence, 10 AM ET/1400 GMT
Wednesday
  • US ADP nonfarm employment, 8:15 AM ET/1215 GMT
  • US advance GDP for 3Q. 8:30 AM ET/1230 GMT. This is the first cut for the 3Q
  • Bank of Canada rate statement. 10 AM ET/1400 GMT. No change expected
  • Bank of Canada press conference, 11:15 AM ET/1515 GMT
  • FOMC rate decision. 2 PM ET/1800 GMT.  The Fed is expected cut by 25 basis points
  • Fed Chair Powell press conference.  2:30 PM ET/1830 GMT
Thursday
  • NZ ANZ business confidence.  8 PM ET/0000 GMT
  • China manufacturing PMI, 9 PM ET Weds/0100 GMT
  • Bank of Japan outlook report/monitor policy statement and BOJ press conference.  No change in rates expected
  • Canada GDP, 8:30 AM ET/1230 GMT
  • US personal spending and income.  8:30 AM ET/1230 GMT
Friday
  • China Caixin manufacturing PMI.  9:45 PM ET Thursday/0130 GMT
  • US employment data, 8:30 AM ET/1230 GMT.  Nonfarm payroll expected to rise by 90 K.  Effects from strike could be 40K.  Unemployment rate 3.6% versus 3.5% last month
  • ISM manufacturing PMI.  10 AM ET/1400 GMT.  Last month index fell to 47.8.  The market is looking for rebound to 49.0.
The Brexit train is heading to October 31 end date. What happens is anyone’s guess.

Major earnings releases next week. Alphabet, Apple, Facebook, AMD highlights

  
Analysis, US Market

One more big week of earnings ahead.

Monday, October 28

  • Alphabet, G00GL
  • AT&T, T
  • Spotify, SPOT
  • T mobile, TMUS
  • Beyond Meat, BYND

Tuesday, October 29

  • Electronic arts, EA
  • Advanced Micro Devices, AMD
  • Stryker Corp., SYK
  • Sprint, S
  • Corning, GLW
  • ConocoPhillips, COP
  • Merck, MRK
  • General Motors, GM
  • Pfizer, PFE
  • MasterCard, MA

Wednesday, October 30

  • Apple, AAPL
  • Yum Brands, YUM
  • GE, GE
  • Cirrus Logic, CRUS
  • McKesson, MCK
  • Hyatt hotels, each
  • Starbucks, SBUX
  • Facebook, FB

Thursday, October 31

  • Alibaba group, BABA
  • Bristol-Myers Squibb, BMY
  • Clorox, CLX
  • International Paper, IP
  • Celgene CELG
  • Cigna, CI
  • Kraft Heinz, KHC

Friday, November 1

  • Exxon Mobil, XOM
  • Chevron, CVX
  • Colgate-Palmolive, CL

Bitcoin spikes higher…

  
Analysis, BITCOIN

Moves up over $1000

The price of bitcoin on point basis spike higher and is trading up nearly $1000 on the day on the Coinbase exchange.
Moves up over $1000
Looking at the hourly chart above, the digital current a 1st moved above the September 30 swing low at $7701 and then trumped that by moving above the 100 and 200 hour moving averages at $7808 and $7918 respectively.  Sellers turned buyers and the run higher was in full motion.
What now?
Staying on the hourly chart, the September 26 high at $8659.40 and the 50% retracement of the move down from the September 20 high at $8837.79 are the next targets. That 50% retracement also is close to the swing hi from October 12 at $8826.
Taking a broader look at the daily chart, the price is also approaching its 200 day moving average at Coinbase at $8885.65.
Bitcoin on the daily chart

US stocks recover from earlier losses and close higher. S&P index closes just below record levels

  
Analysis, US Market

Major indices end higher on the week

The US major stock indices recovered from earlier losses. The move higher was helped by positive comments about US China trade progress.
On the day the S&P index moved above the high close level at 3025.86 intraday, but fell short of the all-time high level at 3027.98.  The close is just below those levels at 3022.20
The final numbers are showing
  • S&P index rose 11.96 points or 0.4% at 3022.25
  • NASDAQ index rose 57.33 points or 0.70% at 2843.12
  • Dow industrial average rose 150.36 points or 0.56% at 26955.89
for the week, the major indices closed higher:
  • S&P index rose 1.21%
  • NASDAQ index rose 1.90%
  • Dow industrial average rose 0.69%

So close, but if there is to be a new record close it will have to wait until next week for the S&P index

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