NetFlix (NFLX) gained 3.92%. Goldman Sachs raised its price target on the stock to $225 from $220 while keeping a "sell" rating on it
Intertrader Market News 11.01.2023 15:00
DAILY MARKET NEWSLETTER
January 11, 2023
Pre-Market Session
News Sentiment
Technical Views
EUR/USD Euro Stoxx 50 (Eurex) Brent (ICE)
Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
Price Movement
Analyst Views
Target
Pivot
Dax (Eurex)
14,911.00
+77.00 (+0.52%)
Read the analysis
14,860.00
14,960.00
FTSE 100 (ICE Europe)
0.00
0.00 (0.00%)
Read the analysis
7,685.00
7,725.00
S&P 500 (CME)
3,941.00
+0.25 (+0.01%)
Read the analysis
3,970.00
3,907.00
Nasdaq 100 (CME)
11,276.25
-5.75 (-0.05%)
Read the analysis
11,370.00
11,150.00
Dow Jones (CME)
33,862.00
+13.00 (+0.04%)
Read the analysis
34,060.00
33,620.00
Crude Oil (WTI)
74.49
-0.63 (-0.84%)
Read the analysis
74.00
75.30
Gold
1,875.29
-1.745 (-0.09%)
Read the analysis
1,890.00
1,872.00
MARKET WRAP
Market Wrap: Stocks, Bonds, CommoditiesOn Tuesday, U.S. stocks closed higher. The Dow Jones Industrial Average rose 186 points (+0.56%) to 33,704, the S&P 500 increased 27 points (+0.70%) to 3,919, and the Nasdaq 100 gained 97 points (+0.88%) to 11,205.Investors were relieved to see that Federal Reserve Chair Jerome Powell avoided commenting on interest rates in his first speech in 2023. Retailing (+1.74%), telecoms services (+1.53%), and semiconductors (+1.26%) sectors gained the most.Coinbase Global (COIN) surged 12.96% after the crypto-currency exchange announced plans to cut 950 employees.Amazon.com (AMZN) rose 2.87%. The company said that it will shut down three warehouses in the U.K. this year.NetFlix (NFLX) gained 3.92%. Goldman Sachs raised its price target on the stock to $225 from $220 while keeping a "sell" rating on it.Jefferies Financial Group (JEF) climbed 3.76%. The financial services firm reported that fourth-quarter earnings fell 53% on year.The U.S. 10-year Treasury yield rebounded 7.7 basis points to 3.610%.Regarding U.S. economic data, wholesale inventories increased 1.0% on month in November (vs expected).European stocks closed lower. The DAX 40 declined 0.12%, the CAC 40 fell 0.55%, and the FTSE 100 was down 0.39%.U.S. WTI crude futures settled flat at $74.87 a barrel.Gold price advanced a further $5 to $1,877 an ounce.Market Wrap: ForexThe U.S. dollar was stable against other major currencies. The dollar index climbed to 103.27.EUR/USD added 5 pips to 1.0735. France's industrial production grew 2.0% on month in November (vs +0.6% expected).GBP/USD dropped 32 pips to 1.2152.USD/JPY climbed 38 pips to 132.26.AUD/USD declined 20 pips to 0.6892.USD/CHF gained 17 pips to 0.9230, and USD/CAD rose 37 pips to 1.3426.Bitcoin remained firm and traded higher to $17,460.Morning TradingIn Asian trading hours, AUD/USD was little changed at 0.6890. This morning, Australia's data showed that the inflation rate rose to 7.4% on year in November (vs +7.5% expected), and retail sales grew 1.4% on month in November (vs +0.3% expected).Meanwhile, EUR/USD was broadly flat at 1.0733 while GBP/USD remained subdued at 1.2150.USD/JPY rose further to 132.50.Gold was stable at $1,876.Bitcoin fell to $17,403.Expected TodayNo major economic data expected.
UK MARKET NEWS
Sainsbury, a chain of supermarkets, said full-year underlying profit before tax is now expected to be towards the upper end of the guidance range of 630 - 690 million pounds, as it posted 3Q like-for-like sales growth of 5.9%.JD Sports Fashion, a sports-fashion retail company, said it now expects full-year profit before tax and exceptional items will be towards the top end of current market expectations of 933 - 985 million pounds. The company reported total revenue growth for the 22 weeks to December 31 of more than 10%, compared with growth of 5% in the prior-year period.Auto & Parts, travel & leisure and basic resources shares gained most in London on Monday.From a relative strength vs FTSE 100 point of view, Ashtead Group (-0.9% to 5064p) crossed under its 50-day moving average.From a technical point of view, BP (-0.88% to 475.1p) crossed under its 50-day moving average.
ECONOMIC CALENDAR
Time
Event
Forecast
Importance
07:00
MBA 30-Year Mortgage Rate (Jan/06)
MEDIUM
07:00
MBA Mortgage Applications (Jan/06)
LOW
07:00
MBA Mortgage Refinance Index (Jan/06)
LOW
07:00
MBA Mortgage Market Index (Jan/06)
LOW
07:00
MBA Purchase Index (Jan/06)
LOW
10:30
EIA Gasoline Stocks Change (Jan/06)
1.186M
MEDIUM
10:30
EIA Crude Oil Stocks Change (Jan/06)
-2.243M
MEDIUM
10:30
EIA Refinery Crude Runs Change (Jan/06)
LOW
10:30
EIA Distillate Stocks Change (Jan/06)
-472k
LOW
10:30
EIA Heating Oil Stocks Change (Jan/06)
LOW
10:30
EIA Gasoline Production Change (Jan/06)
LOW
10:30
EIA Cushing Crude Oil Stocks Change (Jan/06)
LOW
10:30
EIA Distillate Fuel Production Change (Jan/06)
LOW
10:30
EIA Crude Oil Imports Change (Jan/06)
LOW
11:30
17-Week Bill Auction
LOW
13:00
10-Year Note Auction
LOW
NEWS SENTIMENT
BioNTech SE
BNTX : NASDAQ
153.67 USD
+5.16%
In the last 5 days
NEWS SENTIMENT (24H)
Very Positive
TECHNICAL SCORE
Short-Term
Medium-Term
Long-Term
Bayerische Motoren Werke AG
BMW : XETRA
90.52 EUR
+3.00%
In the last 5 days
NEWS SENTIMENT (24H)
Positive
TECHNICAL SCORE
Short-Term
Medium-Term
Long-Term
BHP Group PLC
BHP : LSE
2,708.50 GBp
+4.76%
In the last 5 days
NEWS SENTIMENT (24H)
Very Positive
TECHNICAL SCORE
Short-Term
Medium-Term
Long-Term
Bayer AG
BAYN : XETRA
53.96 EUR
+8.96%
In the last 5 days
NEWS SENTIMENT (24H)
Very Positive
TECHNICAL SCORE
Short-Term
Medium-Term
Long-Term
Infineon Technologies AG
IFX : XETRA
30.82 EUR
+3.01%
In the last 5 days
NEWS SENTIMENT (24H)
Very Positive
TECHNICAL SCORE
Short-Term
Medium-Term
Long-Term
TECHNICAL VIEWS
EUR/USD Intraday: range.
Pivot:
1.0760
Our preference:
Short positions below 1.0760 with targets at 1.0725 & 1.0710 in extension.
Alternative scenario:
Above 1.0760 look for further upside with 1.0780 & 1.0800 as targets.
Comment:
The RSI lacks upward momentum.
Euro Stoxx 50 (Eurex) (H3) Intraday: key resistance at 4096.00.
Pivot:
4096.00
Our preference:
Short positions below 4096.00 with targets at 4071.00 & 4055.00 in extension.
Alternative scenario:
Above 4096.00 look for further upside with 4114.00 & 4130.00 as targets.
Comment:
The index currently faces a challenging resistance area at 4096.00.
Brent (ICE) (H3) Intraday: under pressure.
Pivot:
80.25
Our preference:
Short positions below 80.25 with targets at 78.95 & 78.15 in extension.
Alternative scenario:
Above 80.25 look for further upside with 80.90 & 81.35 as targets.
Comment:
The RSI is bearish and calls for further downside.