Click to Verify

Register Now And Get A Free Introduction Lesson

Try us Without Risk


You take the profits,
We cover possible losses,
On your first 5 trades.



Register for No-Loss Guarantee

HOT OPPORTUNITIES

Check how much you could earn on

Enter your investment Amount
Please enter an amount between 50 and 5000
Back
 
Asset
Action
Sell
Amount
$200
Leverage
1:200
Profit
$1,280
Register for full explanation
 

Courses for all skill levels

For beginners

Courses for beginners without previous experience.

Sign Up

For professionals

Take your trading to the next level with our advanced courses.

Sign Up

See what others are trading

Find out what’s hot, and what’s not.

Here you can see what other traders are thinking and investing. This great tool can help you catch early trends in the markets and act accordingly.
Will you follow the trend or go in the opposite direction?

 
 
 

Market Updates

Commodities - Natural Gas Futures Turn Higher After Storage Data

Investing.com - The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. increased by 91 billion cubic feet in the week ended May 18, compared to forecasts for a build of 92 billion.

Thursday’s data compared with a gain of 106 billion cubic feet (bcf) in the preceding week and represented a decline of 804 billion from a year earlier and was also 499 bcf below the five-year average.

Total U.S. natural gas storage stood at 1.629 trillion cubic feet, 33.0% lower than levels at this time a year ago and also 23.4% below the five-year average for this time of year.

After the report, natural gas for delivery in June on the New York Mercantile Exchange rose 0.3 cents, or about 0.1%, to trade at $2.917 per million British thermal units by 10:33AM ET (14:33GMT).

Futures had been inching down 0.4 cents, or about 0.1%, at $2.910 prior to the release of the supply data.

The commodity was on track for its third straight session of gains on the back of weather forecasts for hotter weather across the country.

In its forecasts for May 24-30, the National Weather Service predicted above-average temperatures that would consolidate over most of the U.S. and continue in the following week.

Demand for natural gas tends to rise in the summer months as warmer temperatures increase the need for gas-fired electricity to power air conditioning.

Read More

U.S. Existing Home Sales Fall in April

Investing.com - Sales of previously-owned U.S. homes fell in April, according to figures released by the National Association of Realtors on Thursday.

Existing home sales fell 2.5% in April from the previous month to an annualized pace of 5.46 million units.

Economists had forecasts a 0.2% decrease to an annualized pace of 5.56 million.

Existing home sales account for 90% of the market and are calculated when a contract closes.

NAR indicated that sales also slid 1.4% on an annualized basis as all four major regions saw no gain in sales activity last month.

NAR chief economist Lawrence Yun explained that the slump was due to extremely low inventory levels.

“The root cause of the underperforming sales activity in much of the country so far this year continues to be the utter lack of available listings on the market to meet the strong demand for buying a home,” he said.

“Inventory shortages are even worse than in recent years, and home prices keep climbing above what many home shoppers are able to afford,” Yun added.

According to the report, the median existing-home price for all housing types in April was $257,900, up 5.3% from April 2017 ($245,000).

Read More

Wells Fargo Sees Stock Market Breakout

Investing.com - Stocks have been stuck in a volatile trading range since the correction of February, but one Wall Street firm says that will soon yield to another move higher.
In a note to clients, the Wells Fargo (NYSE:WFC) Investment Institute says technical data indicate a breakout and "a resumption of the trend that was in place before the correction."
The firm points to the fact that on several recent occasions the S&P 500 has closed above its 200-day moving average, which is viewed as a key indicator for determining long-term price trends.
Wells says history shows that once a breakout begins investors will feel a sense of "missing out" on the market gains and invest new money, pushing prices even higher.
The firm has a year-end, price target for the S&P 500 of 2,950, which is about 3% higher than the index's record peak in late January.

Read More

Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.02%

Investing.com – Saudi Arabia stocks were lower after the close on Thursday, as losses in the Real Estate Development, Media&Publishing and Building&Construction sectors led shares lower.

At the close in Saudi Arabia, the Tadawul All Share fell 0.02%.

The best performers of the session on the Tadawul All Share were Saudi Industrial Services Co. (SE:2190), which rose 4.87% or 0.70 points to trade at 15.08 at the close. Meanwhile, Saudi Transport&Investment Co (SE:4110) added 4.63% or 1.85 points to end at 41.85 and Abdullah Al Othaim Markets Company (SE:4001) was up 3.53% or 2.47 points to 72.50 in late trade.

The worst performers of the session were Saudi Automotive Services Co. (SE:4050), which fell 13.00% or 2.34 points to trade at 15.66 at the close. Al Alamiya Cooperative Insurance (SE:8280) declined 6.90% or 2.11 points to end at 28.45 and Dar Alarkan Real Estate Development (SE:4300) was down 5.03% or 0.60 points to 11.34.

Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 118 to 63 and 5 ended unchanged.

Crude oil for July delivery was down 1.67% or 1.20 to $70.64 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 1.40% or 1.12 to hit $78.68 a barrel, while the June Gold Futures contract rose 0.71% or 9.20 to trade at $1298.80 a troy ounce.

EUR/SAR was up 0.26% to 4.3979, while USD/SAR rose 0.02% to 3.7509.

The US Dollar Index Futures was down 0.21% at 93.71.

Read More

ECB Minutes - Markets Believe Asset Purchases Likely to Conclude by End of 2018

Investing.com - Minutes from the European Central Bank's April 26 policy meeting released Thursday revealed that policymakers were confident that inflation would return to the 2% target in the medium term, while they recognized that markets expected that the asset purchase program would be concluded by the end of this year.

Last month the ECB left the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.40%, respectively.

It also confirmed that its asset purchase program would remain at €30 billion ($35.2 billion) a month would continue, until the end of September or beyond if necessary.

At that meeting, ECB president Mario Draghi acknowledged the slowdown in the euro zone economy, referring to it as a “moderation”. However, Draghi blamed temporary factors such as a harsh winter, strikes, and the early date of Easter, in March instead of April.

The minutes recognized that there had been “some moderation in activity, but so far remained consistent with a solid and broad-based expansion of the euro area economy.”

“The underlying strength of the euro area economy continued to support the Governing Council’s confidence that inflation would gradually converge to its inflation aim of below, but close to, 2% over the medium term,” the minutes stated.

Nevertheless, the IHS Markit purchasing managers’ index released on Wednesday showed that business activity in the region sank to an 18-month low in May, dampening ECB prospects for the removal of policy accommodation.

The minutes showed that members "broadly agreed" that financial conditions continued to be "very accommodative overall", in spite of increased uncertainty and volatility in some markets.

"A remark was made that survey and analysts’ expectations regarding APP net purchases were unchanged, with market participants continuing to anticipate net purchases concluding towards the end of 2018." the ECB noted.

Overall, the minutes were largely in line with Draghi’s message at the April 26 press conference and little movement was seen in Forex markets after the publication.

At 7:42AM ET (11:42GMT), EUR/USD was trading at 1.1711 from around 1.11715 ahead of the release, while EUR/GBP was at 0.8745 from 0.8744 earlier.

The next monetary policy meeting will take place on June 14.

Read More

Weekly Comic: Powell Doesn’t Offer Hawks Much As Fed Tilts Dovish

Investing.com - Minutes of the latest Federal Reserve meeting hinted at a dovish approach to interest rate hikes in the United States, disappointing hawks that were expecting a more aggressive pace of monetary tightening.

Most Fed policymakers thought it likely another interest rate increase would be warranted "soon" if the U.S. economic outlook remains intact, the minutes showed on Wednesday.

But they also revealed the Fed would tolerate inflation rising above its goal for a time, suggesting it would not raise the tempo at which it increases interest rates.

The probability of three more rate hikes by the end of this year, rather than two, decreased immediately after the release of the minutes, according to Investing.com's Fed Rate Monitor Tool.

Investors have fully priced in a rate rise at the Fed's next policy meeting on June 12-13. However, Wall Street remains divided over how many more time the central bank will raise interest rates after that.

The dollar and Treasury yields lost momentum, pulling back from recent highs after the minutes of the Fed's last policy meeting were seen as dovish.

Several market-moving reports, including the May jobs report and the second estimate of GDP growth for the first quarter, are due next week, and investors will be watching for more clues on the current rate-hiking path.

To see more of Investing.com’s weekly comics, visit: http://www.investing.com/analysis/comics

Read More

Sri Lanka stocks higher at close of trade; CSE All-Share up 0.10%

Investing.com – Sri Lanka stocks were higher after the close on Thursday, as gains in the Power&Energy, Trading and Telecoms sectors led shares higher.

At the close in Colombo, the CSE All-Share added 0.10%.

The best performers of the session on the CSE All-Share were Adam Investments Ltd (CM:ADAM), which rose 50.00% or 0.100 points to trade at 0.300 at the close. Meanwhile, Equity Two PLC (CM:ETWO) added 24.33% or 14.60 points to end at 74.60 and Selinsing PLC (CM:SELI) was up 22.27% or 136.60 points to 750.00 in late trade.

The worst performers of the session were PCH Holdings PLC (CM:PCHH), which fell 14.29% or 0.100 points to trade at 0.600 at the close. York Arcade Holdings PLC (CM:YORK) declined 11.00% or 11.00 points to end at 89.00 and Paragon Ceylon PLC (CM:PARA) was down 10.44% or 5.90 points to 50.60.

Rising stocks outnumbered declining ones on the Colombo Stock Exchange by 102 to 91 and 55 ended unchanged.

Shares in Adam Investments Ltd (CM:ADAM) rose to all time lows; rising 50.00% or 0.100 to 0.300. Shares in York Arcade Holdings PLC (CM:YORK) fell to 52-week lows; falling 11.00% or 11.00 to 89.00.

Crude oil for July delivery was down 0.71% or 0.51 to $71.33 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 0.83% or 0.66 to hit $79.14 a barrel, while the June Gold Futures contract rose 0.45% or 5.80 to trade at $1295.40 a troy ounce.

GBP/LKR was up 0.61% to 211.890, while USD/LKR rose 0.08% to 157.990.

The US Dollar Index Futures was down 0.18% at 93.74.

Read More

India stocks higher at close of trade; Nifty 50 up 0.80%

Investing.com – India stocks were higher after the close on Thursday, as gains in the IT, Technology and Banking sectors led shares higher.

At the close in NSE, the Nifty 50 added 0.80%, while the BSE Sensex 30 index added 0.93%.

The best performers of the session on the Nifty 50 were Bharti Airtel Ltd. (NS:BRTI), which rose 4.34% or 15.50 points to trade at 371.90 at the close. Meanwhile, Tata Consultancy Services Ltd. (NS:TCS) added 3.31% or 115.65 points to end at 3603.70 and Infosys Ltd (NS:INFY) was up 2.96% or 35.10 points to 1221.00 in late trade.

The worst performers of the session were Tata Motors Ltd (NS:TAMO), which fell 6.33% or 19.60 points to trade at 288.65 at the close. Oil And Natural Gas Corporation Ltd (NS:ONGC) declined 4.39% or 7.70 points to end at 167.70 and GAIL Ltd (NS:GAIL) was down 5.45% or 17.60 points to 309.50.

The top performers on the BSE Sensex 30 were Bharti Airtel Ltd (BO:BRTI) which rose 4.11% to 371.45, Infosys Ltd (BO:INFY) which was up 3.09% to settle at 1221.85 and Tata Consultancy Services Ltd. (BO:TCS) which gained 3.08% to close at 3604.80.

The worst performers were Tata Motors Ltd (BO:TAMO) which was down 6.56% to 288.95 in late trade, Oil And Natural Gas Corporation Ltd (BO:ONGC) which lost 4.50% to settle at 167.65 and Tata Motors Ltd DVR (BO:TAMdv) which was down 4.40% to 168.30 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 834 to 754 and 45 ended unchanged; on the Bombay Stock Exchange, 1324 fell and 1229 advanced, while 129 ended unchanged.

Shares in Tata Motors Ltd (NS:TAMO) fell to 52-week lows; down 6.33% or 19.60 to 288.65. Shares in Tata Consultancy Services Ltd. (NS:TCS) rose to all time highs; up 3.31% or 115.65 to 3603.70. Shares in Infosys Ltd (NS:INFY) rose to 52-week highs; up 2.96% or 35.10 to 1221.00. Shares in Tata Motors Ltd (BO:TAMO) fell to 52-week lows; losing 6.56% or 20.30 to 288.95. Shares in Infosys Ltd (BO:INFY) rose to 52-week highs; gaining 3.09% or 36.60 to 1221.85. Shares in Tata Consultancy Services Ltd. (BO:TCS) rose to all time highs; gaining 3.08% or 107.75 to 3604.80. Shares in Tata Motors Ltd DVR (BO:TAMdv) fell to 3-years lows; losing 4.40% or 7.75 to 168.30.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 7.15% to 13.1450.

Gold Futures for June delivery was up 0.45% or 5.80 to $1295.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.63% or 0.45 to hit $71.39 a barrel, while the July Brent oil contract fell 0.74% or 0.59 to trade at $79.21 a barrel.

USD/INR was up 0.10% to 68.355, while EUR/INR rose 0.14% to 80.0917.

The US Dollar Index Futures was down 0.17% at 93.75.

Read More

Top 5 Things To Know In The Market On Thursday

Investing.com - Here are the top five things you need to know in financial markets on Thursday, May 24:

1. U.S.-China Trade Dispute Remains In Focus

Trade concerns continued to nag at investors after U.S. President Donald Trump appeared to have opened a new front in the trade war by considering new tariffs, this time on cars.

The Trump administration is weighing a plan that would impose tariffs of as much as 25% on imported vehicles, citing national security grounds.

The move opens yet another front in the Trump administration’s trade battles with both allies and rivals, a confrontational approach that has yielded mixed results.

Meanwhile, China's Commerce Ministry said earlier that it had not pledged to cut the country's trade surplus with the U.S. by a certain figure, fueling uncertainty over trade talks between the world's two largest economic powers.

2. U.S. Stock Futures Point To Muted Open

U.S. stock futures pointed to a muted open, as investors looked ahead to a fresh batch of corporate earnings and economic data, while monitoring fresh developments surrounding talks with China and North Korea.

At around 5:45AM ET, the blue-chip Dow futures dipped around 7 points, or less than 0.1%, the S&P 500 futures inched up 1 point, while the tech-heavy Nasdaq 100 futures indicated a gain of 7 points, or roughly 0.1%.

Stocks ended slightly higher on Wednesday, as an early session sell-off was entirely erased following the release of the minutes from the Federal Reserve’s latest policy meeting.

On the earnings front, reports from Best Buy (NYSE:BBY), Ross Stores (NASDAQ:ROST), and Gap (NYSE:GPS) will be the notable reporters from the retail sector, while Hormel Foods (NYSE:HRL), Autodesk (NASDAQ:ADSK), and McKesson (NYSE:MCK) will also report results on Thursday.

Elsewhere, in Europe, the continent's major bourses inched higher in mid-morning trade, with Italy leading the advancers as political tension there eased for now.

Earlier, in Asia, markets in the region stumbled as investors reacted to fresh setbacks in trade talks between the U.S. and China.

3. Dollar Loses Steam After Dovish Fed Minutes

The dollar lost momentum against a basket of currencies, pulling back from a five-month high after the minutes of the Fed's last policy meeting were seen as dovish.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.25% at 93.67, down from a five-month high of 94.12 set on Wednesday.

Meanwhile, the U.S. 10-year Treasury yield stood at around 3.01% in early action.

While the minutes showed most policymakers thought it likely another interest rate increase would be warranted "soon", they also revealed the Fed would tolerate inflation rising above its goal for a time, suggesting it would not raise the tempo at which it increases interest rates.

On the economic data side, investors will get the weekly report on initial jobless claims at 8:30AM ET, followed by home prices for March at 9AM ET.

A report on existing home sales in April, and the Kansas City Fed’s latest manufacturing activity reading are then due at 10AM and 11AM respectively.

4. Oil Prices Slip On Rising Stockpiles, OPEC Worries

Crude prices were on the backfoot, pressured by a surprise jump in weekly U.S. crude supplies.

U.S. crude was down 53 cents, or 0.7%, at $71.31, while Brent crude, the global benchmark, declined 78 cents, or 1%, to $79.02 a barrel.

Speculation that the Organization of the Petroleum Exporting Countries may decide to boost output to make up for a Venezuelan production shortfall and potential lost supply from Iran also weighed on oil prices

5. DOJ Launches Investigation Into Bitcoin Manipulation

The U.S. Department of Justice has opened a criminal investigation into whether traders are manipulating the price of bitcoin and other cryptocurrencies, according to sources familiar with the matter.

Investigators are focused on illegal moves that can affect prices, such as spoofing, which refers to flooding a market with fake orders.

Federal prosecutors are working with the Commodity Futures Trading Commission, the sources said.

Bitcoin prices sank 7%, or around $550, to $7,339 (BTC/USD), after falling sharply Wednesday.

Read More

Gold Prices Move Higher as Weaker Dollar, Trade Worries Support Demand

Investing.com - Gold prices moved higher as a weaker dollar and U.S.-China trade concerns continued to support demand for the safe haven precious medal.

At 5:15AM ET (9:15GMT), gold futures for June delivery on the Comex division of the New York Mercantile Exchange was up $7.40, or around 0.6%, to $1,297.00 a troy ounce.

Meanwhile, the dollar fell after the latest Federal Reserve meeting minutes hinted at a dovish approach to rate hikes later this year. The minutes released on Wednesday indicated central bankers are happy to let inflation run above the 2% target for a “temporary period”, signaling no rush to tighten monetary policy. 

The U.S. dollar index that tracks the greenback against a basket of six major currencies last stood at 93.65, down 0.28% by 5:17AM ET (9:17GMT).

Dollar-denominated assets such as gold are sensitive to moves in the dollar – a drop in the dollar makes gold more affordable for holders of foreign currency and thus increases demand for the precious metal.

Escalating friction between China and the U.S. on trade issues also served to increase appetite for the safe haven asset. U.S. President Donald Trump gave a bleak outlook on Wednesday, calling for a “different structure” in trade negotiations and suggesting that the current deal will be “too hard to get done”.

On Thursday’s economic calendar, market participants will keep an eye on weekly jobless claims and April existing home sales.

Policymakers will also be in the spotlight as Atlanta Fed chief Raphael Bostic and Philadelphia Fed president Patrick Harker will speak later on Thursday.

In other metals trading, silver futures rose 1.0% at $16.570 a troy ounce by 5:17AM ET (9:75GMT).

Palladium futures slipped 0.1% to $970.40 an ounce, while sister metal platinum gained 0.9% at $909.30.

In base metals, copper traded up 0.4% to $3.083 a pound.

Read More

Japan stocks lower at close of trade; Nikkei 225 down 1.11%

Investing.com – Japan stocks were lower after the close on Thursday, as losses in the Mining, Chemical, Petroleum&Plastic and Warehousing sectors led shares lower.

At the close in Tokyo, the Nikkei 225 declined 1.11%.

The best performers of the session on the Nikkei 225 were NTT Data Corp. (T:9613), which rose 3.63% or 43.0 points to trade at 1226.0 at the close. Meanwhile, Otsuka Holdings Ltd (T:4578) added 3.29% or 174.0 points to end at 5465.0 and Chugai Pharmaceutical Co., Ltd. (T:4519) was up 2.89% or 170.0 points to 6050.0 in late trade.

The worst performers of the session were Yaskawa Electric Corp. (T:6506), which fell 5.14% or 240.0 points to trade at 4430.0 at the close. Mazda Motor Corp (T:7261) declined 5.11% or 75.5 points to end at 1400.8 and Kawasaki Heavy Industries, Ltd. (T:7012) was down 4.96% or 180.0 points to 3452.5.

Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 2461 to 895 and 210 ended unchanged.

Shares in Chugai Pharmaceutical Co., Ltd. (T:4519) rose to all time highs; rising 2.89% or 170.0 to 6050.0.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 13.86% to 16.18.

Crude oil for July delivery was down 0.45% or 0.32 to $71.52 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 0.58% or 0.46 to hit $79.34 a barrel, while the June Gold Futures contract rose 0.56% or 7.20 to trade at $1296.80 a troy ounce.

USD/JPY was down 0.35% to 109.68, while EUR/JPY unchanged 0.00% to 128.75.

The US Dollar Index Futures was down 0.28% at 93.65.

Read More

UK Retail Sales Rise by 1.6% in April

Investing.com - UK retail sales rose 1.6% in April, the Office for National Statistics said on Thursday.

This was compared to a 1.1% decline in the previous month which was revised up from an initial 1.2% decrease.

Economists had forecast a reading of 0.8%.

Year-on-year, retail sales rose by 1.4% last month.

Analysts had penciled in just a 0.1% gain.

Sales in March had advanced 1.3% from the year before, which was an upward revision from the initial 1.1% gain.

Core retail sales, which exclude automobile sales and fuel, increased by 1.3% in April, after dropping 0.5% a month earlier.

Economists had expected just a 0.4% rise.

Year-on-year, core retail sales gained 1.5% in April, compared to expectations for a 0.1% increase.

A month earlier, they registered a 1.3% advance which was revised up from an initial 1.1% rise.

Read More

China stocks lower at close of trade; Shanghai Composite down 0.44%

Investing.com – China stocks were lower after the close on Thursday, as losses in the Technology Hardware&Equipment, Electricity and Utilities sectors led shares lower.

At the close in Shanghai, the Shanghai Composite fell 0.44%, while the SZSE Component index lost 0.63%.

The best performers of the session on the Shanghai Composite were Hainan Haiqi Transportation Group Co Ltd (SS:603069), which rose 10.02% or 1.040 points to trade at 11.420 at the close. Meanwhile, TongLing Zonfa Trinity Technology Co Ltd (SS:600520) added 10.01% or 1.81 points to end at 19.89 and Hna Innovation Hainan Co Ltd A (SS:600555) was up 9.92% or 0.52 points to 5.76 in late trade.

The worst performers of the session were Shanghai Baosight Software Co Ltd A (SS:600845), which fell 6.91% or 1.920 points to trade at 25.870 at the close. Wuxi Hongsheng Heat Exchanger Manufacturing Co Ltd (SS:603090) declined 5.92% or 1.210 points to end at 19.220 and Shanghai Chengdi Construction Corp Ltd (SS:603887) was down 5.90% or 1.810 points to 28.890.

The top performers on the SZSE Component were Xinjiang Beixin Road&Bridge Group Co Ltd (SZ:002307) which rose 9.97% to 7.06, Xian International Medical Investment Co Ltd (SZ:000516) which was up 9.09% to settle at 6.00 and Shenzhen Capchem Tech (SZ:300037) which gained 6.85% to close at 23.23.

The worst performers were Beijing Orient Landscape Co Ltd (SZ:002310) which was down 8.74% to 15.03 in late trade, Shenwu Environmental Tech (SZ:300156) which lost 7.60% to settle at 9.00 and Shanxi Baiyuan Trousers Chain Management Co Ltd (SZ:002640) which was down 5.62% to 18.31 at the close.

Falling stocks outnumbered advancing ones on the Shanghai Stock Exchange by 772 to 524 and 80 ended unchanged.

Shares in Beijing Orient Landscape Co Ltd (SZ:002310) fell to 52-week lows; losing 8.74% or 1.44 to 15.03. Shares in Xian International Medical Investment Co Ltd (SZ:000516) rose to 52-week highs; rising 9.09% or 0.50 to 6.00. Shares in Shenwu Environmental Tech (SZ:300156) fell to 5-year lows; losing 7.60% or 0.74 to 9.00.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was up 6.58% to 21.39.

Gold Futures for June delivery was up 0.52% or 6.70 to $1296.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.39% or 0.28 to hit $71.56 a barrel, while the July Brent oil contract fell 0.48% or 0.38 to trade at $79.42 a barrel.

USD/CNY was down 0.04% to 6.3874, while EUR/CNY rose 0.25% to 7.4912.

The US Dollar Index Futures was down 0.19% at 93.73.

Read More

Forex – Dollar Drops Amid Risk Aversion  

Investing.com –  The dollar slid against major Asian currencies Thursday morning after climbing overnight to a fresh high for the year. Without any key economic data in the region, investors focused on political events that clouded the market outlook. As risk appetite soured, the safe-haven yen was sent higher.

The U.S. dollar index that tracks the greenback against a basket of six major currencies last stood at 93.78, down 0.14%, at 12:49AM ET (04:49 GMT).  On Wednesday night, the index climbed above the 94 level for the first time this year, reaching 94.10.

The market was also reacting to the outcome of a meeting of the U.S. Federal Reserve on Wednesday. The Fed appeared to be content to let inflation run above the 2% target for a “temporary period”, signaling no rush to tighten monetary policy.

The USD/JPY pair slid 0.49% to 109.49 as the U.S. sought to impose more tariffs, reigniting fears of a trade war. The yen surged after U.S. President Donald Trump ordered Commerce Secretary Wilbur Ross to initiate a probe into automobile imports.

The yen was also affected by the reaction to uncertainty over whether a planned summit between Trump and North Korean leader Kim Jong-un would happen. Doubts over whether the summit will go ahead have destabilized geopolitical relations in Asia.

A top North Korean diplomat criticized U.S. Vice President Mike Pence who suggested that the fate of North Korea follow the Libyan model, prompting the Asian country to say that a “nuclear-to-nuclear showdown is entirely dependent upon the decision and behavior of the United States”. The Libyan model refers to the U.S. approach to that country, which ended with the capture and killing of leader Moammar Gadhafi after operations carried out with NATO support and help.

In Australia, the AUD/USD pair gained 0.13% at 0.7570 The Aussie was not hurt by headlines regarding potential hefty tariffs on foreign cars.

In China, the People's Bank of China set the set the reference rate for the yuan against the dollar, the mid-point from which the currency is allowed to trade, at 6.3816 versus the previous day's 6.3773. The USD/CNY pair gained 0.03% to trade at 6.3906. 

Read More

Asian Equities Lower Amid Renewed China-U.S. Tension

Investing.com – Asian equities were mostly lower in morning trade on Thursday amid renewed China-U.S. tension, as U.S. President Donald Trump hinted he has second thought about the trade deal he agreed with Beijing over the weekend.

“Our Trade Deal with China is moving along nicely, but in the end we will probably have to use a different structure in that this will be too hard to get done and to verify results after completion,” Trump said on Twitter on Wednesday. 

Meanwhile, the Federal Reserve meeting on Wednesday was also in focus as it indicated central bankers are happy to let inflation run above the 2% goal for a “temporary period”, indicating they're in no rush to tighten more aggressively.

In Asia, Japan stocks underperformed its regional peers, with a strengthening yen cited as catalyst for the selling in local stocks after U.S. President Trump ordered the Commerce Department to consider a probe into automobile imports, which could lead to possible fresh tariffs on foreign vehicles.

The Nikkei 225 was down 1.2% by 9:30 PM ET (01:30 GMT).

China’s Shanghai Composite and the SZSE Component both slipped 0.1%, while Hong Kong’s Hang Seng Index edged up 0.03%.

Although not a directional driver, reports that the U.S. is seeking better access for imports of genetically modified crops into China garnered some attention. Citing two people familiar with the matter, Reuters reported that agricultural trade has been a long term main issue between the two nations.

"I can say with full confidence that biotech is one of the key issues for USDA in this conversation with the Chinese," the source said.

Elsewhere, Australia’s S&P/ASX 200 slipped 0.1%, while South Korea’s KOSPI traded 0.3% lower.

Read More

Peru stocks lower at close of trade; S&P Lima General down 1.02%

Investing.com – Peru stocks were lower after the close on Wednesday, as losses in the Banking&Financials, S&P Lima Juniors and Mining sectors led shares lower.

At the close in Lima, the S&P Lima General lost 1.02% to hit a new 1-month low.

The best performers of the session on the S&P Lima General were Grana Y Monter (LM:GRA), which rose 5.73% or 0.110 points to trade at 2.030 at the close. Meanwhile, Empresa Agroindustrial Pomalca (LM:POM) added 4.80% or 0.006 points to end at 0.131 and Enel Distribucion Peru SAA (LM:ENE) was up 3.77% or 0.220 points to 6.050 in late trade.

The worst performers of the session were Candente Copper (LM:DNT), which fell 13.33% or 0.0100 points to trade at 0.0650 at the close. PPX Mining Corp (LM:PPX) unchanged 5.13% or 0.00 points to end at 0.07 and Panoro (LM:PML) was down 4.92% or 0.013 points to 0.251.

Falling stocks outnumbered advancing ones on the Lima Stock Exchange by 21 to 14 and 7 ended unchanged.

Crude oil for July delivery was down 0.50% or 0.36 to $71.84 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.20% or 0.16 to hit $79.73 a barrel, while the June Gold Futures contract rose 0.08% or 1.00 to trade at $1293.00 a troy ounce.

USD/PEN was up 0.15% to 3.2734, while EUR/PEN fell 0.63% to 3.8271.

The US Dollar Index Futures was up 0.43% at 93.91.

Read More

Brazil stocks lower at close of trade; Bovespa down 2.25%

Investing.com – Brazil stocks were lower after the close on Wednesday, as losses in the Financials, Public Utilities and Real Estate sectors led shares lower.

At the close in Sao Paulo, the Bovespa lost 2.25% to hit a new 3-months low.

The best performers of the session on the Bovespa were Marfrig Alimentos SA (SA:MRFG3), which rose 7.59% or 0.60 points to trade at 8.50 at the close. Meanwhile, Cosan SA Industria e Comercio (SA:CSAN3) added 1.46% or 0.59 points to end at 40.93 and Embraer SA (SA:EMBR3) was up 1.46% or 0.33 points to 22.95 in late trade.

The worst performers of the session were Centrais Eletricas Brasileiras SA (SA:ELET3), which fell 11.47% or 2.07 points to trade at 15.97 at the close. Centrais Eletricas Brasileiras SA (SA:ELET6) declined 9.42% or 1.95 points to end at 18.75 and Qualicorp SA (SA:QUAL3) was down 7.98% or 1.71 points to 19.72.

Falling stocks outnumbered advancing ones on the BM&FBovespa Stock Exchange by 296 to 114 and 31 ended unchanged.

Shares in Qualicorp SA (SA:QUAL3) fell to 52-week lows; falling 7.98% or 1.71 to 19.72.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was down 1.19% to 31.58.

Gold Futures for June delivery was up 0.12% or 1.50 to $1293.50 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.65% or 0.47 to hit $71.73 a barrel, while the July US coffee C contract fell 1.13% or 1.36 to trade at $119.47 .

USD/BRL was down 0.58% to 3.6270, while EUR/BRL fell 1.26% to 4.2428.

The US Dollar Index Futures was up 0.43% at 93.91.

Read More

Bitcoin Falls Below $8,000 as Traders Flee Cryptos

Investing.com – Bitcoin fell below $8,000 on Wednesday as ongoing negative sentiment forced traders to abandon their bullish crypto holdings, wiping more than $30 billion off the crypto market.

Bitcoin fell 7.34% to $7,589.4 on the Bitfinex exchange from a high of $8,196.8.

Bitcoin’s plunge below $8,000 appeared to attract a wave of selling as some said the move lower was a sign that upside momentum in the popular crypto was diminishing amid falling demand.

The total market cap of cryptocurrencies fell to about $333 billion, at the time of writing, down from about $367 billion on Tuesday, reflecting the negative sentiment on cryptos amid fears of a regulatory crackdown.

The cryptocurrency industry has become a “farce” as the light-natured regulation of the industry, where barriers to creating a new cryptocurrency is “zero,” was attracting increased levels of fraudulent activity, said Minneapolis Federal Reserve President Neel Kashkari on Tuesday.

Kashikari tempered his comments somewhat saying “there will probably be a shakeout, and maybe a handful of these things [cryptocurrencies] will end up surviving.”

Bitcoin has struggled to mount a recovery following its unsuccessful attempts to rally above $10,000 earlier in the month. A recent step up in regulatory efforts in South Korea and North America has sparked uncertainty through the crypto industry, crippling upside momentum in cryptos.

Ripple XRP fell 8.65% to $0.60752 on the Poloniex exchange, while Ethereum fell 14.95% to $592.89.

Bitcoin Cash fell 12.17% to $1031.19, while Litecoin fell 7.49% to $122.09.

Read More

Day Ahead: Top 3 Things to Watch

Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow

1. Jobless Claims, Housing Data, Fed Speakers on Tap

The Labor Department releases its weekly count of the number of individuals who filed for unemployment insurance due 08:30 am ET for the week ended May 18, expected to show jobless claims fell to 220,000 from 222,000 the prior week.

The Bloomberg Consumer Confidence Index due 9:45AM ET – which measures views on the condition of the U.S. economy, personal finances and the buying climate – will also be closely monitored.

Existing Home Sales due 10:00AM ET for April is expected to show a decline of 0.2% for April to 5.56 million units from 5.60 million units the prior month.

Federal Reserve officials will continue to chime in with speeches that could offer clues on U.S. monetary policy.

Speeches by FOMC Member Raphael Bostic at 10:35AM ET and FOMC Member Patrick Harker at 2:00PM ET will be closely watched after the Federal Reserve’s minutes showed policymakers continued to view gradual rate hikes as appropriate.

The dollar hit a sixth-month high on Wednesday supported by a slump in EUR/USD, GBP/USD slumped.

2. Natural Gas Inventories, Crude Oil in Focus

Natural gas prices rose on Wednesday ahead of data expected to show an increase in natural gas storage for the fourth week in a row.

The Energy Information Agency’s weekly natural gas storage report is expected show gas storage rose by 92 billion cubic feet last week.

Following the rally into settlement on Wednesday, crude oil prices will likely remain in focus after U.S. government data showed US supplies unexpected surged last week.

That was in contrast to the weekly industry report from the American Petroleum Institute on Tuesday showing a draw in crude supplies.

Crude futures settled 36 cents higher at $71.84 a barrel.

3. Best Buy Q1 Earnings Eyed

Best Buy releases its quarterly results before the opening bell on Thursday, May 24.

Analysts expect the durable goods retailer to post first quarter earnings of $0.74 per share on revenue of $8.73 billion.

Same-store sales will be one the key metrics watched by market participants amid expectations that efforts to increase e-commerce may have weighed on the company’s margins and reduced traffic.

Same-store sales are expected to rise 2.6%.

Best Buy has trickled lower heading into its earnings report as traders appeared to take profit on recent gains after the stock rose to an all-time high last week.

Shares of Best Buy Co Inc (NYSE:BBY) closed 0.52% higher at $75.86.

Read More

Fed's Minutes: June Rate Hike on Track as Inflation Nears Target

Investing.com - Federal Reserve policymakers saw inflation nearing the U.S. central bank’s target prompting the need for gradual rate hikes, according to the minutes of its May meeting, published on Wednesday.

The Fed kept its benchmark rate unchanged at 1.50% to 1.75% at the conclusion of its two-day policy meeting on May 2 and stuck to its projections for two additional rate hikes this year.

Consumer price inflation, as measured by the 12‑month percentage change in the price index for personal consumption expenditures (PCE), was 2% in March, warranting the need for further gradual rate hikes, the Fed's minutes showed.

"Participants generally expected that further gradual increases in the target range for the federal funds rate would be consistent with solid expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective over the medium term," according to Fed's minutes.

Fed officials also said that after an extended period of low inflation, the Committee's longer-run policy objective "was to return inflation to its symmetric 2% goal on a sustained basis."

The above-trend economic growth was underpinned by a number of factors including a strong labor market following a drop in the unemployment rate below 4% in April for the first time since 2000.

"A number of economic fundamentals were currently supporting continued above-trend economic growth; these included a strong labor market, federal tax and spending policies, high levels of household and business confidence, favorable financial conditions, and strong economic growth abroad," the minutes showed.

The report did little to alter the outlook for monetary policy, with the majority of traders expecting a rate hike at the Fed’s next meeting in June.

CIBC said the Fed minutes were somewhat dovish as the US central bank expressed "tolerance for a bit of overshooting on the inflation front" and did not appear too concerned about the prospect of an overheating economy.

Traders are pricing in a 95% rate hike in June, according to Investing.com’s Fed Rate Monitor Tool. The odds of a fourth rate in December, meanwhile, have decreased to about 39%.

Read More

Gold Prices Flat as Geopolitical Uncertainty Offsets Dollar Pressure

Investing.com – Gold prices traded flat on Tuesday pressured by a rally in the dollar to six-month highs but losses were limited as rising geopolitical uncertainty triggered demand for safe-haven assets.

Gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell by $0.90, or 0.07%, to $1,291.10 a troy ounce.

Signs of US-China trade tensions saw traders pile into gold, helping the precious metal steady from a heavy selloff last week despite a strong uptick in the dollar.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose to a sixth-month high of 94.04.

A stronger dollar makes gold more expensive for holders of foreign currency, reducing demand for the yellow metal.

The uptick in geopolitical tensions arrived as President Donald Trump on Tuesday said he was not pleased with recent U.S.-China trade talks and also raised doubts about whether the U.S.-North Korea summit would take place next month.

Also supporting the precious metal was a fall in U.S. bond yields ahead of the release of the minutes of the Federal Reserve’s May meeting slated for 2PM ET.

In a rising interest rate environment, investor appetite for gold weakens as the opportunity cost of holding the precious metal increases relative to other interest-bearing assets such as bonds.

In other precious metal trade, silver futures fell 0.90% to $16.43 a troy ounce, while platinum futures lost 0.76% to $901.90 an ounce.

Copper fell 1.98% to $3.07

Read More

Finland stocks lower at close of trade; OMX Helsinki 25 down 1.64%

Investing.com – Finland stocks were lower after the close on Wednesday, as losses in the Oil&Gas, Basic Materials and Technology sectors led shares lower.

At the close in Helsinki, the OMX Helsinki 25 declined 1.64%.

The best performers of the session on the OMX Helsinki 25 were Kesko Oyj (HE:KESKOB), which rose 0.04% or 0.02 points to trade at 50.52 at the close. Meanwhile, Outotec Oyj (HE:OTE1V) fell 0.05% or 0.004 points to end at 8.298 and Valmt (HE:VALMT) was down 0.25% or 0.04 points to 16.11 in late trade.

The worst performers of the session were Neste Oil Oyj (HE:NESTE), which fell 2.96% or 2.08 points to trade at 68.24 at the close. Outokumpu Oyj (HE:OUT1V) declined 2.82% or 0.1720 points to end at 5.9380 and UPM-Kymmene Oyj (HE:UPM) was down 2.28% or 0.73 points to 31.29.

Falling stocks outnumbered advancing ones on the Helsinki Stock Exchange by 103 to 39 and 18 ended unchanged.

Brent oil for July delivery was down 0.45% or 0.36 to $79.21 a barrel. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.71% or 0.51 to hit $71.69 a barrel, while the June Gold Futures contract fell 0.05% or 0.60 to trade at $1291.40 a troy ounce.

EUR/USD was down 0.68% to 1.1700, while EUR/GBP fell 0.06% to 0.8765.

The US Dollar Index Futures was up 0.46% at 93.94.

Read More

Italy stocks lower at close of trade; Investing.com Italy 40 down 1.40%

Investing.com – Italy stocks were lower after the close on Wednesday, as losses in the Financials, Industrials and Technology sectors led shares lower.

At the close in Milan, the Investing.com Italy 40 fell 1.40% to hit a new 1-month low.

The best performers of the session on the Investing.com Italy 40 were Bper Banca SpA (MI:EMII), which rose 1.09% or 0.051 points to trade at 4.723 at the close. Meanwhile, Salvatore Ferragamo SpA (MI:SFER) added 0.44% or 0.11 points to end at 25.05 and Mediaset (MI:MS) was up 0.29% or 0.009 points to 3.061 in late trade.

The worst performers of the session were Saipem SpA (MI:SPMI), which fell 3.43% or 0.1380 points to trade at 3.8820 at the close. Pirelli&C SPA (MI:PIRC) declined 2.68% or 0.20 points to end at 7.42 and Buzzi Unicem (MI:BZU) was down 2.30% or 0.51 points to 21.68.

Falling stocks outnumbered advancing ones on the Milan Stock Exchange by 267 to 93 and 34 ended unchanged.

Crude oil for July delivery was down 0.73% or 0.53 to $71.67 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 0.45% or 0.36 to hit $79.21 a barrel, while the June Gold Futures contract fell 0.05% or 0.60 to trade at $1291.40 a troy ounce.

EUR/USD was down 0.67% to 1.1701, while EUR/GBP fell 0.05% to 0.8766.

The US Dollar Index Futures was up 0.46% at 93.94.

Read More

Denmark stocks lower at close of trade; OMX Copenhagen 20 down 0.29%

Investing.com – Denmark stocks were lower after the close on Wednesday, as losses in the Real Estate, Oil&Gas and Technology sectors led shares lower.

At the close in Copenhagen, the OMX Copenhagen 20 declined 0.29%.

The best performers of the session on the OMX Copenhagen 20 were Pandora A/S (CO:PNDORA), which rose 2.57% or 13.0 points to trade at 518.0 at the close. Meanwhile, AP Moeller - Maersk A/S B (CO:MAERSKb) added 1.31% or 124 points to end at 9620 and Chr. Hansen Holding A/S (CO:CHRH) was up 0.68% or 4.0 points to 593.6 in late trade.

The worst performers of the session were Vestas Wind Systems A/S (CO:VWS), which fell 2.51% or 11.4 points to trade at 442.2 at the close. Nordea Bank AB (CO:NDA) declined 1.99% or 1.30 points to end at 63.94 and Jyske Bank A/S (CO:JYSK) was down 1.01% or 3.7 points to 361.8.

Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 71 to 43 and 22 ended unchanged.

Shares in Chr. Hansen Holding A/S (CO:CHRH) rose to all time highs; up 0.68% or 4.0 to 593.6.

Crude oil for July delivery was down 0.75% or 0.54 to $71.66 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 0.48% or 0.38 to hit $79.19 a barrel, while the June Gold Futures contract fell 0.03% or 0.40 to trade at $1291.60 a troy ounce.

USD/DKK was up 0.69% to 6.3671, while EUR/DKK rose 0.02% to 7.4496.

The US Dollar Index Futures was up 0.46% at 93.94.

Read More

Poland stocks lower at close of trade; WIG30 down 1.85%

Investing.com – Poland stocks were lower after the close on Wednesday, as losses in the Energy, Chemicals and Basic Materials sectors led shares lower.

At the close in Warsaw, the WIG30 fell 1.85% to hit a new 52-week low.

The best performers of the session on the WIG30 were Cyfrowy Polsat SA (WA:CPS), which rose 0.96% or 0.24 points to trade at 25.14 at the close. Meanwhile, Bank Polska Kasa Opieki SA (WA:PEO) added 0.29% or 0.33 points to end at 114.58 and Kruk SA (WA:KRU) was up 0.09% or 0.20 points to 228.40 in late trade.

The worst performers of the session were Energa SA (WA:ENGP), which fell 6.84% or 0.67 points to trade at 9.13 at the close. PGE Polska Grupa Energetyczna SA (WA:PGE) declined 6.81% or 0.69 points to end at 9.44 and Tauron Polska Energia SA (WA:TPE) was down 6.51% or 0.140 points to 2.010.

Falling stocks outnumbered advancing ones on the Warsaw Stock Exchange by 296 to 159 and 168 ended unchanged.

Shares in Energa SA (WA:ENGP) fell to 52-week lows; losing 6.84% or 0.67 to 9.13. Shares in PGE Polska Grupa Energetyczna SA (WA:PGE) fell to 52-week lows; down 6.81% or 0.69 to 9.44. Shares in Tauron Polska Energia SA (WA:TPE) fell to all time lows; falling 6.51% or 0.140 to 2.010.

Crude oil for July delivery was down 0.60% or 0.43 to $71.77 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 0.44% or 0.35 to hit $79.22 a barrel, while the June Gold Futures contract fell 0.03% or 0.40 to trade at $1291.60 a troy ounce.

EUR/PLN was up 0.39% to 4.3003, while USD/PLN rose 1.01% to 3.6737.

The US Dollar Index Futures was up 0.42% at 93.90.

Read More

Germany stocks lower at close of trade; DAX down 1.47%

Investing.com – Germany stocks were lower after the close on Wednesday, as losses in the Basic Resources, Chemicals and Insurance sectors led shares lower.

At the close in Frankfurt, the DAX fell 1.47%, while the MDAX index declined 1.07%, and the TecDAX index fell 0.78%.

The best performers of the session on the DAX were SAP SE (DE:SAPG), which rose 0.32% or 0.310 points to trade at 96.420 at the close. Meanwhile, Deutsche Telekom AG Na (DE:DTEGn) fell 0.11% or 0.015 points to end at 13.520 and Beiersdorf AG O.N. (DE:BEIG) was down 0.12% or 0.120 points to 98.520 in late trade.

The worst performers of the session were Deutsche Lufthansa AG (DE:LHAG), which fell 3.74% or 0.940 points to trade at 24.180 at the close. Linde AG 1 (DE:LIN1) declined 3.14% or 6.2000 points to end at 191.3500 and Volkswagen AG VZO O.N. (DE:VOWG_p) was down 2.74% or 4.84 points to 171.76.

The top performers on the MDAX were CTS Eventim AG (DE:EVDG) which rose 4.15% to 40.620, Grand City Properties SA (DE:GYC) which was up 0.86% to settle at 21.00 and Prosiebensat 1 Media AG (DE:PSMGn) which gained 0.64% to close at 26.8200.

The worst performers were Wacker Chemie O.N. (DE:WCHG) which was down 3.63% to 149.85 in late trade, Salzgitter AG (DE:SZGG) which lost 3.36% to settle at 46.910 and Kion Group AG (DE:KGX) which was down 2.86% to 71.40 at the close.

The top performers on the TecDAX were Evotec AG O.N. (DE:EVTG) which rose 0.99% to 14.255, Sartorius AG VZO O.N. (DE:SATG_p) which was up 0.44% to settle at 137.600 and Wirecard AG (DE:WDIG) which gained 0.40% to close at 126.650.

The worst performers were RIB Software AG Na (DE:RIB) which was down 4.19% to 20.600 in late trade, SLM Solutions Group AG (DE:AM3D) which lost 3.37% to settle at 32.95 and SMA Solar Technology AG (DE:S92G) which was down 3.30% to 58.600 at the close.

Falling stocks outnumbered advancing ones on the Frankfurt Stock Exchange by 512 to 204 and 71 ended unchanged.

Shares in Grand City Properties SA (DE:GYC) rose to 52-week highs; up 0.86% or 0.18 to 21.00. Shares in Sartorius AG VZO O.N. (DE:SATG_p) rose to 52-week highs; rising 0.44% or 0.600 to 137.600.

The DAX volatility index, which measures the implied volatility of DAX options, was up 13.51% to 16.66 a new 1-month high.

Gold Futures for June delivery was down 0.03% or 0.40 to $1291.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.60% or 0.43 to hit $71.77 a barrel, while the July Brent oil contract fell 0.44% or 0.35 to trade at $79.22 a barrel.

EUR/USD was down 0.63% to 1.1706, while EUR/GBP fell 0.03% to 0.8767.

The US Dollar Index Futures was up 0.42% at 93.90.

Read More

Norway stocks lower at close of trade; Oslo OBX down 1.08%

Investing.com – Norway stocks were lower after the close on Wednesday, as losses in the Technology Hardware&Equipment, Diversified Financials and Auto&components sectors led shares lower.

At the close in Oslo, the Oslo OBX declined 1.08%.

The best performers of the session on the Oslo OBX were SalMar ASA (OL:SALM), which rose 1.65% or 5.80 points to trade at 357.60 at the close. Meanwhile, Grieg Seafood (OL:GSFO) added 0.27% or 0.25 points to end at 92.25 and P/f Bakkafrost (OL:BAKKA) was up 0.19% or 0.80 points to 427.00 in late trade.

The worst performers of the session were Norwegian Air Shuttle ASA (OL:NWC), which fell 3.69% or 10.10 points to trade at 263.40 at the close. Golden Ocean Group Ltd (OL:GOGLT) declined 2.90% or 2.00 points to end at 67.00 and Norwegian Finans Holding ASA (OL:NOFI) was down 2.41% or 2.15 points to 87.20.

Falling stocks outnumbered advancing ones on the Oslo Stock Exchange by 136 to 38 and 25 ended unchanged.

Crude oil for July delivery was down 0.62% or 0.45 to $71.75 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July fell 0.46% or 0.37 to hit $79.20 a barrel, while the June Gold Futures contract fell 0.07% or 0.90 to trade at $1291.10 a troy ounce.

EUR/NOK was down 0.10% to 9.4845, while USD/NOK rose 0.63% to 8.1100.

The US Dollar Index Futures was up 0.48% at 93.96.

Read More

Raymond James Sees Spotify Subscribership Doubling In Two Years

Investing.com - Spotify will double the number of its subscribers by 2020, as the music industry shifts from "a transaction to an on demand model," according to investment firm Raymond James.
With that thinking, the firm initiated coverage of the music streaming company, issuing a strong buy rating and $190 12-month, stock price target.
In a note to clients, James said Spotify has "one of the best growth rates in tech" and can withstand any competitive threat from Apple (NASDAQ:AAPL) or Amazon (NASDAQ:AMZN).
Spotify's first quarterly earnings since going public in April failed to meet Wall Street's expectations, although it did manage a smaller loss. The company said it has 75 million subscribers.
Shares are unchanged from their opening day closing price.

Read More

State Regulators Unleash 'Operation Crypto Sweep'

Investing.com - Now state regulators are cracking down on cryptocurrency fraud.
Regulators in some 40 U.S. states and Canadian provinces have launched "Operation Crypto Sweep," a coordinated effort to uncover illegal investment schemes to raise funds from investors, such as initial coin offerings.
So far, the effort has yielded 70 investigations or inquiries and 35 pending or completed enforcement actions.
The North American Securities Administrators Association is helping to lead the effort.
The state crackdown comes as the federal Securities Exchange Commission steps up its efforts to uncover ICO fraud.

Read More

Forex- Dollar Surges Ahead of Fed Minutes

Investing.com - The greenback rose to a five month high on Wednesday, as investors look ahead to the latest meeting minutes from the Federal Reserve.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.42% to 93.90 as of 11:09 AM ET (15:09 GMT).

Investors will be looking to the Fed meeting minutes at 2:00 PM ET (18:00 GMT) closely for any signs of tightening monetary policy.

A recent increase in bond yields, along with positive economic data and rising inflation, has boosted expectations that the Federal Reserve will increase interest rates and tighten monetary policy.

The Fed raised rates in March and is expected to raise rates twice more, with some investors expecting a third hike. Expectations of higher interest rates tend to boost the dollar by making the currency more attractive to yield-seeking investors.

Meanwhile the euro and sterling continued to fall to five-month lows after disappointing economic data.

The euro was near a five-month low after private sector growth in the euro zone fell to its slowest pace in 18 months in May. The report is likely to push back expectations of an interest rate hike by the European Central Bank.The euro was down, with EUR/USD falling 0.65% to 1.1703.

Meanwhile the pound slumped after data showed that annual inflation slowed in April, which could ease pressure on the Bank of England to increase interest rates. GBP/USD dipped 0.69% to 1.3340.

The dollar was down against the safe haven yen, with USD/JPY falling 0.64% to 109.96. Elsewhere, the Australian dollar was lower, with AUD/USD down 0.46% to 0.7540 while NZD/USD decreased 0.48% to 0.6900.

Read More

Trade On The Go

Trade on your smartphone or tablet with our brand new mobile trading app. Never again miss the opportunity to earn when you are not at home. Access your account information, investment portfolio and market analysis at any time. Download the free A3 Trading app now.

Why Trade Online?

Online trading is absolutely the best way to earn significant profits from investment in the short term. All you need to get started is an internet connection and the desire to learn how to trade. Unlike other forms of investment, you don't need large amounts of money to get started. You can start with as little as $200.

Start Now