Tuesday , May 11 2021

Apple Apple NASDAQ, midterms and Fed worried



Photo: Reuters

(Boursier.com) – The US rating is now displayed in a scattered order on Monday. The DJIA takes 0.51% to 25,399 points, while the S & P500 takes 0.06% to 2.725 points. The Nasdaq, Again sealed by Apple, yields by contrast nearly 1% at 7,286 pts. The Federal Reserve's monetary meeting is scheduled for Wednesday and Thursday, and risk aversion is dominating despite the thin hopes of a trade deal with China.

In the forex market, the dollar fell by 0.2% against the currency basket.In Nymex, crude oil barrel (December contract) rose 0.9% to $ 63.7, while Brent pre-1.1% to $ 73.7 …

The concern of & measurements

The short-term elections in the US will be one of the biggest meetings of the week, with recent polls showing that the Democratic Party can win the US House of Representatives, while the Republicans win the Senate – retain their majority. Insists that the Democrats' success will be very bad for actions …

On Twitter, Donald Trump is sweeping negative polls for Republicans today. "Quit & VOTE Remember, we may now have the" largest economy "in the history of our country!

Rom Powell expected to stand firm

The Fed is expected to keep interest rates unchanged on Thursday night, between 2% and 2.25% of federal funds after its penultimate meeting in 2018. The probability of the status quo will be 93, according to the CMW FedWatch tool. The Fed, on the other hand, will raise its fourth interest rate on December 19, bringing the fund rate between 2.25% and 2.50% (FedWatch's 72.1% probability). ) … This monetary tightening of the US Federal Reserve is now openly and regularly criticized by Trump, who is concerned about its impact on US economic expansion and employment.

Hopes on the commercial front

Chinese President Xie Pingping played the conciliation card on Monday for the opening of the China International Import Exhibition (CIIE) in Shanghai on November 5-10, attended by thousands of investors. For example, Shay undertook to lower China's import tariffs to improve access to its market. The Chinese leader says he wants to "open his market to the world." The president of China also intends to open the markets of education of culture or media, according to today's words. He wants to safeguard the interests of foreign companies in matters of intellectual property. Therefore, Shai spoke about the emergence of a global trading environment without detailed details of concrete steps.

Trump and Xi under surveillance

The recent remarks by the Chinese leader are not really convincing observers, in the middle of the open trade dispute with the United States. Negotiations are still underway this month between the two economic powers ahead of a long-awaited meeting between Donald Trump and Xi Jiefing at the edge of the G20 summit in Argentina, November 30 and December 1. Since the beginning of the conflict, the United States Trump has already imposed additional taxes to 250 billion dollars of imported Chinese products. Beijing responded with additional taxes totaling about $ 110 billion in US imports.

The president of the United States promised on Thursday, on the Twitter social network, had a "very long and good conversation" with the President of China, Shi Jing on many topics, especially trading. "These discussions are progressing, with meetings planned for the G- 20 in Argentina, and I had a good discussion on North Korea, "said Trump, when markets feared a more difficult dispute than potential taxes.Customs on the import of Chinese products Sources Bloomberg even said at the beginning of last week that Trump is expected to impose additional taxes soon on all imports from China (More than 500 billion worth of products).

The Chinese press last week approved these phone calls between Trump and Shai, which will be their first call for a few months, so can show a desire to appease. The Chinese president, for his part, said he hoped to develop strong and healthy ties between the first two economic forces of the planet. "Negotiations from both countries should strengthen their relationship and consult on issues of concern to both sides, and they should promote a plan that both sides can accept," said Shai on the CCTV channel.

Strong service indicators

Business expansion in the US was approved in October, so the PMI index for March 2018 stood at 54.8, compared to a consensus of 54.7 places and a 54.7 reading level for the previous reading.

The ISM index for services (called "no production") for October 2018, which was published today, stood at 60.3, compared with a consensus of 59.1 and a level of 61.6 last month. Therefore, the ISM reflects a slight slowdown in service activity, which remains at a historical level.

Finally, these two service indicators are still far beyond the 50 mark, which marks extension.

After Apple, quarterly publications continue

The quarterly season has not yet ended across the Atlantic, after the "disappointment" DarkWhich somehow appealed to Wall Street last weekend. It remains indeed a beautiful week of results, with more than 70 members of the S & P500 index …

CNA Financial (11%) announced a net profit of $ 336 million and $ 1.23 for the third quarter, as well as a adjusted profit of $ 317 million and a adjusted profit of $ 1.17.

Diamond Offshore (-1%) reported a net loss of $ 51 million, or 37 cents per share, for the same period, and a adjusted loss per share of $ 0.26 per share. The group, which is active in oil and gas drilling, generated quarterly revenue of $ 286 million.

Loews (+ 4%) posted a net profit of $ 278 million, or 88 cents per share, in the third quarter, in revenue of $ 3.61 billion.

Sysco (-10%) deadlines. The US food group missed consensus on the first fiscal quarter. Cisco posted a profit of $ 431 million, or 81 cents per share, compared to $ 368 million a year earlier. Earnings per share were 91 cents, but the consensus was 92 cents. Revenue was $ 15.2 billion, up from $ 14.7 billion a year earlier and $ 15.4 billion in consensus.

SeaWorld (-3%) reported higher quarterly earnings and revenues than expected. Net profit was $ 96 million, $ 1.11 for security, up from $ 55 million a year earlier. The consensus was $ 1.09 bpa. Total revenue increased by 10% to $ 483 million, while the consensus was $ 475 million.

Lowe of (-1%), the number two furniture in the US, will close 20 stores in the US and 31 in Canada, as part of recent strategic initiatives. The group estimates that the effect of "closing the stores" in 2018 will be 28 to 34 cents per share.

Berkshire Hath (+ 5%), Warren Buffett's company, far exceeded expectations for the quarter ended, doubling operating profit in the third quarter, thanks to strong insurance results as well as lower taxes. Operating profit was $ 6.9 billion, up from $ 3.4 billion the previous year and $ 6.1 billion.

Dark (-4%) still suffers on Wall Street today, after falling 6.6% on Friday. The market value of the Cupertino group fell this time significantly below $ 100 billion, operators confirm sales of iPhones and guidance somewhat disappointing. Caution still dominates today, while the group with the apple would cancel the increases in production of the iPhone XR, if one believes the Japanese newspaper "Nikkei". Apple had announced to subcontractors Foxconn and Pegatron that they would have to give up an increase in the number of production lines dedicated to the iPhone XR, the cheapest of the three new iPhone models sold.

Amazon (-3%) waives its minimum purchase price for free shipping during the holiday season, said the American giant of e-commerce. The minimum purchase for non-premium customers is US $ 25. The offer will remain valid until the end of the Christmas delivery.

Ferrari (-1%) on Wall Street, after disappointing quarterly results. By negative effects on the currency and negative product mix, the prestigious automaker achieved a consolidated EBITDA of 278 ME (+ 4.7%) in revenues of 838 ME (0.3% + 2.2% at a fixed rate) in the third quarter of 2009. Net profit was NIS 287 million, compared with NIS 1,140 million the year before. Ferrari, which sold 2,262 vehicles during the period (+ 10.6%), has approved its 2018 targets, ie revenues of more than 3.4 billion euros, adjusted EBITDA of at least 1.1 billion euros and the delivery of at least 9,000 cars.

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