Electronic Trading – EUMAG http://eumag.org/ Tue, 21 Sep 2021 22:54:56 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://eumag.org/wp-content/uploads/2021/06/icon-150x150.png Electronic Trading – EUMAG http://eumag.org/ 32 32 Technical Analysis of NASDAQ-100 (NQ) E-mini Index Futures – Struggling Inside 15069.75 to 14920.25 https://eumag.org/technical-analysis-of-nasdaq-100-nq-e-mini-index-futures-struggling-inside-15069-75-to-14920-25/ https://eumag.org/technical-analysis-of-nasdaq-100-nq-e-mini-index-futures-struggling-inside-15069-75-to-14920-25/#respond Tue, 21 Sep 2021 21:00:00 +0000 https://eumag.org/technical-analysis-of-nasdaq-100-nq-e-mini-index-futures-struggling-inside-15069-75-to-14920-25/ Prices likely retreated after the spot market closed, with investors assessing the risk of contagion from the problems of indebted developer China Evergrande pending the results of a Federal Reserve policy meeting. NASDAQ-100 Component shares ended mixed with Activision Blizzard Inc and Electronic Arts ending down 4.13% and 2.56% respectively. Seagen Inc and Moderna Inc […]]]>

Prices likely retreated after the spot market closed, with investors assessing the risk of contagion from the problems of indebted developer China Evergrande pending the results of a Federal Reserve policy meeting.

NASDAQ-100 Component shares ended mixed with Activision Blizzard Inc and Electronic Arts ending down 4.13% and 2.56% respectively. Seagen Inc and Moderna Inc closed up 3.74% and 2.53% respectively.

Technical analysis of the daily swing chart

The main trend is upward on the daily swing chart, however, the momentum is downward. A trade up to 14699.00 will change the main downtrend. A move to 15702.25 will signal a resumption of the uptrend.

The minor trend is downward. It’s controlling momentum. A trade up to 14807.50 will indicate that selling pressure is building. A move through 15532.50 will change the minor trend upward.

The main range is 13450.00 to 15702.25. If the main trend changes lower, wait for the sell to eventually expand into its retracement zone between 14576.00 and 14310.25.

The middle range is 14,437.00 to 15,702.25. The index is currently testing its retracement zone between 15069.75 and 14920.25. How traders react to this zone will likely determine the direction of the market for the rest of the week.

The short-term range is 15,702.25 to 14,807.50. Its 15255-15360.50 retracement area is the next bullish target. Since the main trend is down, look for sellers on the first test of this area.

Technical forecasts of the daily swing chart

The direction of the E-mini NASDAQ-100 index for December early Wednesday will likely be determined by the reaction of traders at 15,069.75.

Bearish scenario

A sustained move below 15069.75 will indicate the presence of sellers. The first bearish target is the Fibonacci level at 14,920.25. If that level fails, wait for the sell to eventually expand to 14,807.50, followed by 14,699.00.

Withdrawing 14699.00 will change the main downtrend. If this creates sufficient bearish momentum, look for the continuation of the breakout between 14576.00 and 14310.25. Within that range is a main floor at 14,437.00. Aggressive countertrend buyers could step in on a test of this major retracement area.

Bullish scenario

Holding 14920.25 will signal that the selling pressure is weakening. This may trigger a rally of cover at 15,069.75.

Exceeding and maintaining a move above 15069.75 will indicate that counter-trend buying is strengthening. If this move creates enough bullish momentum, look for a possible surge from 15255.00 to 15360.50.

December’s E-mini NASDAQ-100 index futures were down slightly late Tuesday after abandoning earlier gains. The index traded higher for most of the session on a technical rebound from yesterday’s steep drop, but the countertrend rally fizzled out due to the lack of buyers. The futures market close represents a divergence from the NASDAQ Composite spot market which ended lower for the day.

At 8:20 p.m. GMT, December’s E-mini NASDAQ-100 index futures are trading at 14,979.25, down 30.25 or -0.20%.

Prices likely retreated after the spot market closed, with investors assessing the risk of contagion from the problems of indebted developer China Evergrande pending the results of a Federal Reserve policy meeting.

NASDAQ-100 Component shares ended mixed with Activision Blizzard Inc and Electronic Arts ending down 4.13% and 2.56% respectively. Seagen Inc and Moderna Inc closed up 3.74% and 2.53% respectively.

Technical analysis of the daily swing chart

The main trend is upward according to the daily swing chart, however, the momentum is downward. A trade up to 14699.00 will change the main downtrend. A move to 15702.25 will signal a resumption of the uptrend.

The minor trend is downward. It’s controlling momentum. A trade up to 14807.50 will indicate that selling pressure is building up. A move through 15532.50 will change the minor trend upward.

The main range is 13450.00 to 15702.25. If the main trend changes lower, wait for the sell to eventually expand into its retracement zone between 14576.00 and 14310.25.

The middle range is 14,437.00 to 15,702.25. The index is currently testing its retracement zone between 15069.75 and 14920.25. The reaction of traders to this zone will likely determine the direction of the market for the rest of the week.

The short-term range is 15,702.25 to 14,807.50. Its 15255-15360.50 retracement area is the next bullish target. Since the main trend is down, look for sellers on the first test of this area.


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Dow Futures on the verge of rebounding https://eumag.org/dow-futures-on-the-verge-of-rebounding/ https://eumag.org/dow-futures-on-the-verge-of-rebounding/#respond Tue, 21 Sep 2021 13:07:16 +0000 https://eumag.org/dow-futures-on-the-verge-of-rebounding/ Dow futures are up around 256 points this morning Stock futures are on the mend this morning, after yesterday’s massive sell-off that saw major benchmarks register their worst day since May. Overseas markets stabilized following a liquidity crunch at Evergrande in China, helping to bolster global sentiment today. Meanwhile, oil prices and the 10-year Treasury […]]]>

Dow futures are up around 256 points this morning

Stock futures are on the mend this morning, after yesterday’s massive sell-off that saw major benchmarks register their worst day since May. Overseas markets stabilized following a liquidity crunch at Evergrande in China, helping to bolster global sentiment today. Meanwhile, oil prices and the 10-year Treasury yield are also rebounding, ahead of the two-day Federal Reserve policy meeting that will begin later today.

At the last check, the futures contracts on the Dow Jones Industrial Average (DJI) were up about 270 points, while S&P 500 Index (SPX)and Nasdaq-100 Index (NDX) futures were also decidedly in the dark.

Read on to learn more about the current market, including:

  • Matthew Timpane, Senior Market Strategist at Schaeffer, Explains How Investors Should Handle falling volatility.
  • Kroger share is expected to skyrocket as earnings loom.
  • Additionally, Uber’s revised financial outlook; the update of the Johnson & Johnson booster injections; and Apple is getting into mental health.

Futures chart September 21

5 things you need to know today

  1. The Cboe Options Exchange (CBOE) saw more than 1.8 million purchase contracts traded on Monday, up from 977,766 sales contracts. The single-session put / call ratio fell to 0.54 and the 21-day moving average remained at 0.51.
  2. Actions of Uber Technology Inc (NYSE: UBER) are up 4.9% before the opening, after the carpooling base revised its financial outlook for the third quarter. Uber now expects to bring in between $ 22.8 billion and $ 23.2 billion, compared to its previous forecast of $ 22 billion to $ 24 billion. Since the start of the year, UBER is down 22%.
  3. Blue-chip pharmaceutical Johnson & Johnson (NYSE: JNJ) is up 0.7% in e-commerce. The drugmaker has announced its Covid-19 The booster dose is 94% effective when given two months after the first dose and increases antibody levels four to six times higher than a single dose. Johnson & Johnson stock rose 9.8% year-on-year.
  4. According to the Wall Street Journal, Apple Inc (NASDAQ: AAPL) develops iPhone features to help identify depression and cognitive decline. The technology would work via data from the sensors. Year after year, Apple broth has a lead of 33.8%.
  5. Building permit and starts the data is expected to be released today.

VO Buzz Chart September 21

Overseas markets rebound after Evergrande fear

Trade in Asia was mixed on Tuesday, although China’s Shanghai Composite and South Korea’s Kospi remained closed for a holiday. Hong Kong’s Hang Seng rebounded from its fall on Monday to add 0.5%, thanks to a 2.97% rise in the Hang Seng Properties index. Investors also considered comments from the chairman of China Evergrande Group, assuring that the company will honor its commitments to investors, financial institutions, partners and property buyers. Elsewhere, Japan’s Nikkei fell 2.2% after returning from vacation, dragged down by Softbank Group’s nearly 5% drop.

Meanwhile, European markets are on the rise as investors try to erase Evergrande’s woes and focus on the two-day US Federal Reserve meeting. Airlines and travel stocks are among the best performers today, after the United States announced on Monday that it will soon ease travel restrictions for travelers from the United Kingdom and from Europe. In addition, basic resources and stocks of oil and gas are increasing as investors fear shortages of natural gas in the region. At the last check, the German DAX is up 1.5%, the CAC 40 in France is up 1.4% and the London FTSE 100 is up 1.2%.


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Hong Kong stocks lead Asia down; Tokyo and Shanghai closed https://eumag.org/hong-kong-stocks-lead-asia-down-tokyo-and-shanghai-closed-2/ https://eumag.org/hong-kong-stocks-lead-asia-down-tokyo-and-shanghai-closed-2/#respond Tue, 21 Sep 2021 02:01:41 +0000 https://eumag.org/hong-kong-stocks-lead-asia-down-tokyo-and-shanghai-closed-2/ People walk past a bank’s electronic board displaying the Hong Kong Stock Index on the Hong Kong Stock Exchange in Hong Kong on Monday, September 20, 2021. Stocks fell more than 3% in Hong Kong on Monday as part Trade cleared up in Asia, with both Tokyo and Shanghai closed. (AP Photo / Vincent Yu) […]]]>

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People walk past a bank’s electronic board displaying the Hong Kong Stock Index on the Hong Kong Stock Exchange in Hong Kong on Monday, September 20, 2021. Stocks fell more than 3% in Hong Kong on Monday as part Trade cleared up in Asia, with both Tokyo and Shanghai closed. (AP Photo / Vincent Yu)

PA

Shares fell nearly 4% in Hong Kong on Monday in thinned trading during the Asian holiday, with other major markets in Tokyo and Shanghai closed.

Other regional benchmarks also fell after Wall Street ended last week with another drop.

Investors are watching to see if the Federal Reserve will take action to deal with the impact of rising prices on businesses and consumers.

Concerns are also growing about the US debt ceiling. House Democrats said on Friday that they plan to decide this week to suspend the government’s borrowing power cap, and the White House has stepped up pressure on Republicans by warning state and local governments of severe cuts were to come if the measure failed in the Senate.

Hong Kong real estate companies and banks lost ground amid lingering concerns about the potential spillover effects of Chinese developer Evergrande’s financial woes.

The company was set to miss interest payments as rating companies predicted it could default on its debt. Its shares fell 17% on Monday.

Henderson Land Development fell 12% and New World Development fell 11% amid reports that China would step up oversight of the real estate sector in Hong Kong.

The Hang Seng in Hong Kong lost 3.9% to 23,955.18 and the Australian S & P / ASX 200 lost 2% to 7,254.10. Markets were closed in mainland China, South Korea, Japan, Taiwan and Malaysia.

“Asia is off to a nervous start today with seriously depleted holiday cash flow,” Oanda’s Jeffrey Halley said in a comment. “The list of spinning sharks is long, starting with the growing rumor from the United States about the debt ceiling.”

The Fed is due to release its latest update on economic policy and interest rates on Wednesday. The central bank said higher costs for raw materials and consumer goods will always be temporary as the economy recovers, but analysts fear higher prices will persist and hurt corporate results while slashing prices. expenses.

The yield on the 10-year Treasury bill slipped to 1.37% from 1.38% on Friday.

Shares closed lower on Wall Street on Friday, marking a weak end to a checkered week of trading. The S&P 500 Index lost 0.9% to 4,432.99, for its second consecutive weekly loss.

About 80% of the benchmark S&P 500 stocks fell and all sectors except healthcare were in the red.

The Dow Jones Industrial Average fell 0.5% to 34,584.88 and the Nasdaq fell 0.9% to 15,043.97.

The biggest bottlenecks in the market have been technology and communications companies.

The Russell 2000 Small Business Index recovered from an initial decline, rising 0.2% to 2,236.87.

Quadruple witchcraft, the simultaneous expiration of four types of options and futures, has contributed to market volatility. The phenomenon occurs four times a year and forces traders to sort out the details of the contracts they hold. More than 750 billion individual stock options were due to expire on Friday, McKnight said.

In Monday’s other trading, US benchmark crude oil fell 62 cents to $ 71.35 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, it fell 64 cents to $ 71.97 a barrel.

Brent crude, the standard for international prices, fell 56 cents to $ 74.78 a barrel.

The US dollar slipped to 109.92 Japanese yen from 109.95 yen. The euro fell to $ 1.1716 from 1.1731.


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US Stocks Fall Amid Fears of Contagion in Chinese Real Estate | Economic news https://eumag.org/us-stocks-fall-amid-fears-of-contagion-in-chinese-real-estate-economic-news/ https://eumag.org/us-stocks-fall-amid-fears-of-contagion-in-chinese-real-estate-economic-news/#respond Mon, 20 Sep 2021 12:44:00 +0000 https://eumag.org/us-stocks-fall-amid-fears-of-contagion-in-chinese-real-estate-economic-news/ By DAMIAN J. TROISE and STAN CHOE, AP Business Editors Stocks slumped in morning trading on Wall Street on Monday in a broad sell-off that extends an already weak streak for major indices. Concerns about debt-engulfed Chinese real estate developers – and the damage they could do to investors around the world if they default […]]]>

By DAMIAN J. TROISE and STAN CHOE, AP Business Editors

Stocks slumped in morning trading on Wall Street on Monday in a broad sell-off that extends an already weak streak for major indices.

Concerns about debt-engulfed Chinese real estate developers – and the damage they could do to investors around the world if they default – spill over into the markets.

The S&P 500 fell 1.5% at 10:03 a.m. EST. The benchmark index has not fallen more than 1% since mid-August. It also just suffered two weeks of losses and is on track for its first monthly drop since January.

The Dow Jones Industrial Average fell 495 points, or 1.4%, to 34,086 and the Nasdaq fell 1.7%.

Political cartoons

Tech companies have led the market as a whole to the downside. Apple lost 1% and chipmaker Nvidia lost 2.7%.

Banks suffered heavy losses as bond yields fell. This impairs their ability to charge more lucrative interest rates on loans. The 10-year Treasury yield fell to 1.32% from 1.37% on Friday night. Bank of America fell 3.1%.

Oil prices fell 1.3% and weighed on energy stocks.

Utilities and other sectors considered less risky have held up better than the rest of the market.

Concerns about Chinese real estate developers and debt have recently focused on Evergrande, one of China’s largest real estate developers, which appears to be unable to repay its debts.

Many analysts say they expect the Chinese government to prevent an explosion severe enough to impact the losses on the markets. But any hint of uncertainty may be enough to upend Wall Street, after the S&P 500 has surged higher almost uninterruptedly since October.

“While the Evergrande situation is in the foreground, the reality is that stock valuations are exaggerated and the market has benefited from too long a pause from volatility and Monday’s stock declines are not surprising “, David Bahnsen, director of wealth investments. management company The Bahnsen Group said in a research note.

The Hang Seng, Hong Kong’s main index, fell 3.3% for its biggest loss since July. Many other markets in Asia have been closed for the holidays. European markets fell around 2%.

Investors are also watching the Federal Reserve’s reaction to shocks from the broader economic recovery. The central bank has indicated that it will eventually cut back on bond purchases, which has helped keep interest rates low. The timing of this move remains unknown.

The Fed is due to release its latest update on economic policy and interest rates on Wednesday.

Other investor concerns include a potentially messy political fight in Washington over the US debt ceiling. House Democrats said on Friday they plan to decide this week to suspend the government’s borrowing power cap, and the White House has stepped up pressure on Republicans by warning state and local governments of severe cuts were to come if the measure failed in the Senate.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Hong Kong stocks lead Asia down; Tokyo and Shanghai closed https://eumag.org/hong-kong-stocks-lead-asia-down-tokyo-and-shanghai-closed/ https://eumag.org/hong-kong-stocks-lead-asia-down-tokyo-and-shanghai-closed/#respond Mon, 20 Sep 2021 03:35:48 +0000 https://eumag.org/hong-kong-stocks-lead-asia-down-tokyo-and-shanghai-closed/ Shares fell more than 3% in Hong Kong on Monday in thinned trading during the Asian holiday, with other major markets in Tokyo and Shanghai closed. Other regional benchmarks also fell after Wall Street ended last week with another drop. Investors are watching to see if the Federal Reserve will take action to deal with […]]]>

Shares fell more than 3% in Hong Kong on Monday in thinned trading during the Asian holiday, with other major markets in Tokyo and Shanghai closed.

Other regional benchmarks also fell after Wall Street ended last week with another drop.

Investors are watching to see if the Federal Reserve will take action to deal with the impact of rising prices on businesses and consumers.

Hong Kong real estate companies and banks lost ground amid lingering concerns about the potential spillover effects of Chinese developer Evergrande’s financial woes.

The company was expected to pay no interest as rating companies predict it could default on its debt.

The Hang Seng in Hong Kong was down 3.5% to 24,035.30 and the Australian S & P / ASX 200 was down 1.6% to 7,287.90. Markets were closed in mainland China, South Korea, Japan and Malaysia.

The Fed is due to release its latest update on economic policy and interest rates on Wednesday. The central bank said higher costs for raw materials and consumer goods will always be temporary as the economy recovers, but analysts fear higher prices will persist and hurt corporate results while slashing prices. expenses.

A d

The yield on the 10-year Treasury bill slipped to 1.37% from 1.38% on Friday.

Shares closed lower on Wall Street on Friday, marking a weak end to a checkered week of trading. The S&P 500 Index lost 0.9% to 4,432.99, for its second consecutive weekly loss.

About 80% of the benchmark S&P 500 stocks fell and all sectors except healthcare were in the red.

The Dow Jones Industrial Average fell 0.5% to 34,584.88 and the Nasdaq fell 0.9% to 15,043.97.

The biggest bottlenecks in the market have been technology and communications companies.

The Russell 2000 Small Business Index recovered from an initial decline, rising 0.2% to 2,236.87.

Quadruple witchcraft, the simultaneous expiration of four types of options and futures, has contributed to market volatility. The phenomenon occurs four times a year and forces traders to sort out the details of the contracts they hold. More than 750 billion individual stock options were due to expire on Friday, McKnight said.

A d

In Monday’s other trading, US benchmark crude oil fell 65 cents to $ 71.32 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, it fell 64 cents to $ 71.97 a barrel.

Brent crude, the standard for international prices, fell 57 cents to $ 74.79 a barrel.

The US dollar slipped to 109.90 Japanese yen from 109.95 yen. The euro fell to $ 1.1716 from 1.1731.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.


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National Bank of Fujairah launches NBFX electronic trading platform – News https://eumag.org/national-bank-of-fujairah-launches-nbfx-electronic-trading-platform-news/ https://eumag.org/national-bank-of-fujairah-launches-nbfx-electronic-trading-platform-news/#respond Sun, 19 Sep 2021 11:11:53 +0000 https://eumag.org/national-bank-of-fujairah-launches-nbfx-electronic-trading-platform-news/ The National Bank of Fujairah (NBF) has announced the launch of its electronic trading platform – NBFX. By expanding the bank’s digital offerings, NBFX provides customers with a digital experience tailored to meet their cash flow needs and is available to conventional and Sharia-compliant banking customers. 24/7 availability means customers can execute transactions during and […]]]>

The National Bank of Fujairah (NBF) has announced the launch of its electronic trading platform – NBFX.

By expanding the bank’s digital offerings, NBFX provides customers with a digital experience tailored to meet their cash flow needs and is available to conventional and Sharia-compliant banking customers. 24/7 availability means customers can execute transactions during and beyond bank working hours and enjoy liquidity in all time zones.

The new platform acts as an efficient, competitive and user-friendly place for the execution of foreign exchange and precious metals transactions. NBFX offers users a tailored experience based on their needs with instant and easy execution of FX trades, order management and easily available trade history. Unique to NBFX is the ability for clients to execute undeliverable FX futures (NDF) and FX time options 24/7.

Commenting on the launch of NBFX, NBF CEO Vince Cook said: “The launch of NBFX further underscores the bank’s commitment to being the best financial partner for customers; this is achieved by combining the latest technology with its extensive market experience. This unique platform ensures that customers are able to customize it to their preferences, gain access to the most competitive price execution, and leverage valuable data and information to guide their decisions. “

He added: “In addition, they benefit from the support of a team of treasury, trading and structuring experts to help them adapt to changes in the market and to hedge the underlying risks. Going forward, we plan to expand the reach of NBFX to meet customer needs. wider requirements in the field of energy, base metals and raw materials.

NBFX is designed for existing and potential clients, allowing them to benefit from a simplified and streamlined trade reservation process, reducing the need for manual intervention while opening competitive FX and precious metals prices in real time. By leveraging best practices and multi-factor authentication for client connections, NBFX provides a safe and secure platform for clients to execute transactions.

Developed to meet customer needs, this new platform is part of the bank’s overall strategy to help its customers take advantage of new opportunities made possible by the evolution of financial technologies.

business@khaleejtimes.com

Journalist



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Stocks tumble on Wall Street, abandoning the gains of the week https://eumag.org/stocks-tumble-on-wall-street-abandoning-the-gains-of-the-week-2/ https://eumag.org/stocks-tumble-on-wall-street-abandoning-the-gains-of-the-week-2/#respond Sat, 18 Sep 2021 05:34:26 +0000 https://eumag.org/stocks-tumble-on-wall-street-abandoning-the-gains-of-the-week-2/ A forex trader walks past screens showing the Korea Composite Stock Price Index (KOSPI), left, and the exchange rate between the US dollar and the South Korean won at a foreign exchange trading floor in Seoul, South Korea, Friday September 17th. 2021. Asian stocks were mixed on Friday after a mishmash of economic data led […]]]>

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A forex trader walks past screens showing the Korea Composite Stock Price Index (KOSPI), left, and the exchange rate between the US dollar and the South Korean won at a foreign exchange trading floor in Seoul, South Korea, Friday September 17th. 2021. Asian stocks were mixed on Friday after a mishmash of economic data led Wall Street to close largely lower. (AP Photo / Lee Jinman)

PA

Wall Street closed a checkered week of trading on Friday with a wide sell-off that wiped out the week’s major index gains.

The S&P 500 lost 0.9% and posted its second consecutive weekly loss. About 80% of the benchmark stocks fell. Much of the pullback was tech and communications companies. Industrial and financial stocks also weighed heavily on the index. Only the healthcare sector of the index managed to gain.

Small company stocks held up to the overall market decline. Bond yields have generally increased. Energy prices have fallen.

Trading was choppy throughout the week as investors weighed in a mixed set of economic data reflecting how the economy is resisting a spike in COVID-19 cases and how it may continue to recover in the months to come. . Wall Street is also considering next Wednesday when the Federal Reserve is due to release its latest update on economic policy and interest rates.

“We saw a gradual deterioration over the week, with two small periods of rising, but for the most part a general weakening of the (stock) market,” said Alan McKnight, chief investment officer at Regions Asset Management.

The S&P 500 lost 40.76 points to 4,432.99. Despite falling about 0.6% for the week, the index is less than 2.3% of the all-time high it reached on September 2.

The Dow Jones Industrial Average fell 166.44 points, or 0.5%, to 34,584.88, while the high-tech Nasdaq composite slipped 137.96 points, or 0.9%, to 15,043 , 97.

The Russell 2000 Small Business Index recovered from an early decline and rose 3.96 points, or 0.2%, to 2,236.87.

Bond yields have increased. The 10-year Treasury yield fell from 1.33% Thursday night to 1.38%.

Technology and communications stocks were the biggest weightings in the market. Apple fell 1.8% and Facebook fell 2.2%.

Oil prices fell 0.9% and natural gas prices fell 4.3%. Weak energy prices helped push energy stocks down. Oil services company Schlumberger fell 1.9%.

Health care stocks posted gains. Laboratory equipment maker Thermo Fisher Scientific stood out with a 6.5% jump after giving investors an encouraging business update. Some travel-related stocks made strong gains. Cruise operator Carnival rose 2%, while Norwegian Cruise Line gained 2.1%.

The “quadruple witchcraft,” the simultaneous expiration of four types of options and futures, also influenced market fluctuations. The phenomenon occurs four times a year and forces traders to sort out the details of the contracts they hold. More than 750 billion individual stock options were due to expire on Friday, McKnight said.

“Just the size of that plays into that,” he said. “It creates more volume in the market and some of the volatility associated with it.”

Much of this week’s economic data indicated an economy struggling to grow in recent months. Inflation remains a concern for businesses, which face supply chain issues and higher costs. Concerns about the highly contagious delta variant have also prompted analysts to fear that consumer spending, a key component of economic growth, is stagnating.

Investors will have an eye on the Fed next week to see if the central bank takes action to deal with the impact of rising prices on businesses and consumers. The Fed has said higher costs for raw materials and consumer goods are likely to remain temporary as the economy recovers, but analysts fear higher prices will persist and hurt business results while cutting spending .


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From opposition to support, the roller coaster farmers have been through https://eumag.org/from-opposition-to-support-the-roller-coaster-farmers-have-been-through/ https://eumag.org/from-opposition-to-support-the-roller-coaster-farmers-have-been-through/#respond Sat, 18 Sep 2021 05:20:41 +0000 https://eumag.org/from-opposition-to-support-the-roller-coaster-farmers-have-been-through/ The three pieces of legislation introduced last year and the turmoil that followed brought farmers and agricultural policies back to the forefront, which could also impact policy outcomes. Friday, September 17 marked the year of the enactment of the controversial agricultural laws in India. The Three Laws – Agricultural Trade and Trade (Promotion and Facilitation) […]]]>

The three pieces of legislation introduced last year and the turmoil that followed brought farmers and agricultural policies back to the forefront, which could also impact policy outcomes.

Friday, September 17 marked the year of the enactment of the controversial agricultural laws in India.

The Three Laws – Agricultural Trade and Trade (Promotion and Facilitation) Act 2020; Essential Products (Amendment) Act 2020; and Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Act, 2020 – has divided the nation, leading to farmer-led unrest across the country over the past year.

What are the agricultural laws?

Agricultural Trade and Trade (Promotion and Facilitation) Act 2020: this law allows farmers to extend their trading area from certain areas to “any place of production, collection, aggregation”. They can also switch to e-commerce and e-commerce for the programmed products. This law prohibits state governments from levying market fees, taxes on farmers, traders, and e-commerce platforms.

Farmers Agreement (Empowerment and Protection) on Agricultural Price Insurance and Services Act 2020: According to this law, farmers can enter into pre-arranged contracts with buyers within a legal framework.

Essential Products Act 2020 (Amendment): This law removes foods such as grains, pulses, potatoes, onions, edible oilseeds and oils from the list of essentials, removing the limits on storage of agricultural products produced by horticultural techniques, except under “extraordinary circumstances”. It allows the imposition of any stock limit on agricultural products only in the event of a sharp rise in prices.

The government has presented these laws as reforms close to the 1991 opening of the Indian economy linking it to globalized markets.

He argued that the three laws open up new opportunities for farmers so that they can earn more from their agricultural products.

The government said the new laws will help strengthen basic infrastructure in the agricultural sector through greater private investment.

Farmers’ fears and subsequent protests

Farmers, however, are not convinced of the laws. Their main apprehension is that the laws will eventually abolish the Center’s guaranteed Minimum Support Price (MSP) on certain crops, leaving them at the mercy of big business.

Reacting to the laws, farmers in Punjab announced a three-day rail roko on September 24, 2020.

Over the next three months, the unrest only escalated.

After a series of unorganized protests against agricultural laws, the farmers’ unions in Haryana and Punjab collectively appealed to the “Delhi Chalo” movement on November 25, 2020, which officially sparked the unrest.

On November 26, during their “Delhi Chalo” march, farmers were confronted with water cannons and tear gas as police attempted to disperse them in Ambala district in Haryana. Police later allowed them to enter Delhi for their peaceful protest at Nirankari Field in northwest Delhi, where they started their indefinite protest.

File photo of police blocking a road and using a water cannon to disperse farmers marching to New Delhi to protest central government agricultural laws on the outskirts of Ambala. AFP

To resolve the situation and find a middle way, the government called for a conversation with farmers’ representatives, which remained inconclusive.

As the protest began without a leader, Rakesh Tikait of the Union of Bharatiya Kisan emerged as the face of the protest.

On November 29, 2020, in his monthly radio program Mann ki Baat, Prime Minister Narendra Modi said that all political parties made promises to farmers but that it was his government that kept their promises.

“New dimensions are being added to agriculture and its related activities in India. The agricultural reforms of the past few days have also opened new doors of possibilities for our farmers. These reforms have not only served to liberate our farmers, but have also given them new rights and opportunities, ”said the Prime Minister.

He even assured that the MSP system would not be completely removed. While even seven rounds of talks between the government and farmers’ representatives remained unsuccessful, the Supreme Court agreed to hear petitions from both sides and decided to form a committee to resolve the impasse. The SC suspended the implementation of the three controversial laws.

Realizing that the government was not going to budge, the Bharatiya Kisan union appealed to the Supreme Court on December 11, 2020.

Finally, on January 12, 2021, farmers breathed a sigh of relief when the SC suspended implementation of the contentious laws and set up a four-member committee to make recommendations on the laws after listening to all parties. stakeholders.

The farmer unrest caught the attention of the international community when farmers marched to Red Fort on Republic Day and vandalized public property.

Some of the agitators even climbed the Red Fort and hoisted the Nishan Sahib flag.

One year of agricultural laws From the opposition to supporting the development of the peasant agitation

Protesters climb a flag pole on the ramparts of Fort Rouge on Republic Day. AFP

International celebrities like Rihanna and Greta Thunberg tweeted in favor of the farmers. Thunberg also shared a toolkit on farmer protests.

The Center viewed these supportive tweets as “neither specific nor responsible” and even hinted at Khalistani’s support offered for the protests.

In August of this year, the protests turned political in nature with opposition leaders joining in, trying to portray the government as pro-industrial and anti-farmers.

Refusing to back down, the farm leaders behind the movement staged a large show of force in Muzaffarnagar, Uttar Pradesh, earlier this month, announcing in front of thousands of farmers their intention to campaign against the party. power in the state.

Support for agricultural laws

However, there is a section of people who view the laws as a revolutionary reform in the Indian agricultural sector, which would improve market efficiency and private investment.

In December, leading academics from India’s leading science and management institutes wrote to the prime minister in support of the farm laws.

“We from academia at major institutes and universities would like to assure our support for the three agricultural laws passed by the Indian government. We have discussed with our fellow experts in this field and based on our discussion, we believe that this moment should not be missed. This is a golden opportunity for the reforms that have escaped agriculture since the industrial reforms of 1991. We are convinced that the time has come for agriculture and if these reforms are missed, agriculture will not have to do with it. ‘future in India,’ the letter reads.

Few other farmer organizations also lend their voice in favor of agricultural laws. Under the banner of the All India Kisan Coordinating Committee, the group of farmers from states like Uttar Pradesh, Bihar, Haryana, Kerala, Tamil Nadu and Telangana have expressed support for the laws.

“Farmers have followed old techniques. So it is necessary to make changes to these laws,” they said.

Mark the year

Marking the completion of a year of enactment of controversial agricultural laws, Shiromani Akali Dal is organizing Gurdwara Rakab Ganj Sahib’s “Black Friday Protest March” at the Parliament Building on Friday.

Likewise, the Aam Aadmi party has announced that it will hold candlelight marches through Punjab to pay tribute to farmers who have died in the ongoing agitation against agricultural laws.

Punjab Chief Minister Amarinder Singh also demanded the immediate removal of laws by the Union government, calling for detailed discussions to find a way forward with farmers.

With five state elections on the horizon and opposition parties joining the protesting farmers, will the Modi government be able to find the middle way? This, only time will reveal …

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Stocks tumble on Wall Street, abandoning the gains of the week https://eumag.org/stocks-tumble-on-wall-street-abandoning-the-gains-of-the-week/ https://eumag.org/stocks-tumble-on-wall-street-abandoning-the-gains-of-the-week/#respond Fri, 17 Sep 2021 21:28:46 +0000 https://eumag.org/stocks-tumble-on-wall-street-abandoning-the-gains-of-the-week/ A forex trader walks past screens showing the Korea Composite Stock Price Index (KOSPI), left, and the exchange rate between the US dollar and the South Korean won at a foreign exchange trading floor in Seoul, South Korea, Friday September 17th. 2021. Asian stocks were mixed on Friday after a mishmash of economic data led […]]]>

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A forex trader walks past screens showing the Korea Composite Stock Price Index (KOSPI), left, and the exchange rate between the US dollar and the South Korean won at a foreign exchange trading floor in Seoul, South Korea, Friday September 17th. 2021. Asian stocks were mixed on Friday after a mishmash of economic data led Wall Street to close largely lower. (AP Photo / Lee Jinman)

PA

Wall Street closed a checkered week of trading on Friday with a wide sell-off that wiped out the week’s major index gains.

The S&P 500 lost 0.9% and posted its second consecutive weekly loss. About 80% of the benchmark stocks fell. Much of the pullback was tech and communications companies. Industrial and financial stocks also weighed heavily on the index. Only the healthcare sector of the index managed to gain.

Small company stocks held up to the overall market decline. Bond yields have generally increased. Energy prices have fallen.

Trading was choppy throughout the week as investors weighed in a mixed set of economic data reflecting how the economy is resisting a spike in COVID-19 cases and how it may continue to recover in the months to come. . Wall Street is also considering next Wednesday when the Federal Reserve is due to release its latest update on economic policy and interest rates.

“We saw a gradual deterioration over the week, with two small periods of rising, but for the most part a general weakening of the (stock) market,” said Alan McKnight, chief investment officer at Regions Asset Management.

The S&P 500 lost 40.76 points to 4,432.99. Despite falling about 0.6% for the week, the index is less than 2.3% of the all-time high it reached on September 2.

The Dow Jones Industrial Average fell 166.44 points, or 0.5%, to 34,584.88, while the high-tech Nasdaq composite slipped 137.96 points, or 0.9%, to 15,043 , 97.

The Russell 2000 Small Business Index recovered from an early decline and rose 3.96 points, or 0.2%, to 2,236.87.

Bond yields have increased. The 10-year Treasury yield fell from 1.33% Thursday night to 1.38%.

Technology and communications stocks were the biggest weightings in the market. Apple fell 1.8% and Facebook fell 2.2%.

Oil prices fell 0.9% and natural gas prices fell 4.3%. Weak energy prices helped push energy stocks down. Oil services company Schlumberger fell 1.9%.

Health care stocks posted gains. Laboratory equipment maker Thermo Fisher Scientific stood out with a 6.5% jump after giving investors an encouraging business update. Some travel-related stocks made strong gains. Cruise operator Carnival rose 2%, while Norwegian Cruise Line gained 2.1%.

The “quadruple witchcraft,” the simultaneous expiration of four types of options and futures, also influenced market fluctuations. The phenomenon occurs four times a year and forces traders to sort out the details of the contracts they hold. More than 750 billion individual stock options were due to expire on Friday, McKnight said.

“Just the size of that plays into that,” he said. “It creates more volume in the market and some of the volatility associated with it.”

Much of this week’s economic data indicated an economy struggling to grow in recent months. Inflation remains a concern for businesses, which face supply chain issues and higher costs. Concerns about the highly contagious delta variant have also prompted analysts to fear that consumer spending, a key component of economic growth, is stagnating.

Investors will have an eye on the Fed next week to see if the central bank takes action to deal with the impact of rising prices on businesses and consumers. The Fed has said higher costs for raw materials and consumer goods are likely to remain temporary as the economy recovers, but analysts fear higher prices will persist and hurt business results while cutting spending .


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Asian stocks are mixed as investors examine US data https://eumag.org/asian-stocks-are-mixed-as-investors-examine-us-data/ https://eumag.org/asian-stocks-are-mixed-as-investors-examine-us-data/#respond Fri, 17 Sep 2021 10:11:26 +0000 https://eumag.org/asian-stocks-are-mixed-as-investors-examine-us-data/ A forex trader walks past screens showing the Korea Composite Stock Price Index (KOSPI), left, and the exchange rate between the US dollar and the South Korean won at a foreign exchange trading floor in Seoul, South Korea, Friday September 17th. 2021. Asian stocks were mixed on Friday after a mishmash of economic data led […]]]>

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A forex trader walks past screens showing the Korea Composite Stock Price Index (KOSPI), left, and the exchange rate between the US dollar and the South Korean won at a foreign exchange trading floor in Seoul, South Korea, Friday September 17th. 2021. Asian stocks were mixed on Friday after a mishmash of economic data led Wall Street to close largely lower. (AP Photo / Lee Jin-man)

PA

Asian stocks were mixed on Friday after a mishmash of economic data led Wall Street to close mostly lower.

Benchmarks rose in Tokyo, Hong Kong and Seoul but fell in Shanghai and Sydney.

Across the region, concerns over the protracted coronavirus outbreak weighed on sentiment.

“Overall, the mood remains a bit gloomy in the markets, with investors torn between the ‘buy down’ approach that has worked so well in the past and the growing list of economic and market risks that have worked so well in the past. are increasingly evident, ”Oanda’s Craig Erlam said in a comment.

In Japan, stocks are trading near three-decade highs in anticipation of a leadership change after Prime Minister Yoshihide Suga withdrew from the ruling Liberal Democratic Party leadership race.

Suga’s supportive notes had languished amid widespread public discontent with his administration’s response to the pandemic.

PLD lawmakers and grassroots members will vote on September 29, with a parliamentary election slated for next month.

Tokyo’s Nikkei 225 index rose 0.6% to 30,500.05. The Hang Seng in Hong Kong rebounded from losses earlier in the week to gain 0.2% to 24,723.57. The Kospi in Seoul advanced 0.1% to 3,132.76.

The Shanghai Composite Index lost 0.3% to 3,595.24, while the S & P / ASX 200 in Sydney lost 0.8% to 7,399.90.

On Thursday, the S&P 500 and the Dow Jones Industrial Average each lost around 0.2%, while the highly technological Nasdaq managed to achieve a gain of 0.1%.

The market rose slightly at first after a surprisingly good retail sales report for August, but then fell back.

Markets were choppy as investors moved money between various sectors while analyzing the data for clues about the direction the economy is heading and the Federal Reserve’s reaction.

The central bank will meet next week, and investors will listen intently to any commentary on the timing and extent of the decline in support for low interest rates that have helped fuel equity gains throughout the year.

The S&P 500 lost 6.95 points to 4,473.75. It stands at 1.4% of the all-time high established on September 2. The Dow Jones lost 63.07 points to 34,751.32, while the Nasdaq added 20.39 points to 15,181.92.

Small business stocks also lost ground. The Russell 2000 Index slipped 0.1% to 2,232.91.

The Commerce Department said retail sales rose 0.7% last month. Economists had expected a 0.85% contraction, believing that spending would have declined as the highly contagious delta variant of COVID-19 prompts consumers to forgo their purchases.

Wall Street also weighed in on a disappointing report showing that weekly jobless claims rose more than expected.

The yield on the 10-year Treasury bill rose to 1.34% from 1.30% on Wednesday night.

In other exchanges, US benchmark crude oil fell 23 cents to $ 72.38 per barrel in electronic trading on the New York Mercantile Exchange. It remained unchanged overnight at $ 72.61 per barrel.

Brent crude, the standard for international prices, fell 22 cents to $ 75.45 a barrel.

The dollar rose to 109.88 Japanese yen from 109.81 yen on Thursday night. The euro climbed to $ 1.1773 from $ 1.1761.


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