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Equities Mixed Amid Uncertainties in Biden’s Plan

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STATE OF THE MARKETS

Equities mixed amid uncertainties in Biden’s Plan. Global equities closed the month and quarter on mixed tone Wednesday as Biden’s new infrastructure spending plan sparked some uncertainties in the markets. Though Nasdaq (+1.54%), and S&P500 (+0.36%) climbed higher; Dow (-0.26%) and FTSE UK (-0.86%) edged lower. Nikkei (+0.72%) climbed higher as of Tokyo’s afternoon, after Tankan survey showed Japan’s business mood turned positive in Q1.

Crude continued to be under selling pressure, closed below $56.20/bl, after OPEC+ lowered 2021 demand forecast, amid the renewed lockdowns in Europe and South Asia. On a positive note, gold rebounded higher in the futures markets, above $1713.80/oz, after month end Dollar selling sent the Greenback lower.

King Dollar retreated further in the demand territory, though remain bid in the medium and long term accounts. Euro and Sterling managed to overbid Aussie and Kiwi in the short term, though medium to long term remain relatively unchanged. Long term investors turned less bullish as safe haven Swiss and Yen was more in demand than Aussie and Kiwi. At this point, markets doubt how’s the plan that has failed twice, during Obama and Trump, would survive in Biden’s hands.


G8 CURRENCIES SENTIMENTS

ST CAD GBP EUR USD NZD AUD CHF JPY ST
MT GBP USD CAD NZD AUD EUR CHF JPY MT
LT CAD USD GBP EUR CHF AUD JPY NZD LT
** ST refers to Short-Term which is daily turnover, MT is Medium Term which is weekly 
and LT refers to Long-Term which is monthly turnover.

WALL ST MOST ACTIVE

TICKER LAST PRICE

% CHANGE

VOLUME 90 DAYS AVG
SNDL 1.13 – 0.88 198,918.7K 499,768.7K
YVR 4.19 + 22.16 113,779.1K 5,196.6K
AAPL 122.15 + 1.88 118,323.8K 107,657.7K
NIO 38.98 + 3.81 98,298.4K 127,536.8K
SPY 396.33 + 0.41 112,734.2K 75,878.1K
VIAC 45.10 – 3.24 92,028.5K 23,717.1K
TME 20.49 – 3.98 95,191.1K 22,782.0K
SQQQ 13.12 – 4.58 80,654.5K 78,720.6K
RKDA 2.75 + 18.24 76,745.1K 1,359.6K
WAFU 12.50 + 51.15 75,153.3K 1,388.8K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 667.93 33,337.2K – 22.62 22,266.9M
AAPL 122.15 118,323.8K + 2.03 14,453.3M
MSFT 235.77 43,623.4K + 35.73 10,285.1M
AMZN 3,094.08 3,093.8K – 10.18 9,572.5M
FB 294.53 19,498.1K – 12.29 5,742.8M
BIDU 217.55 20,366.8K – 7.04 4,430.8M
GOOGL 2,062.52 2,128.4K + 26.84 4,389.9M
NVDA 533.93 7,869.4K – 5.40 4,201.7M
VIAC 45.10 92,028.5K + 54.67 4,150.5M
NIO 38.98 98,298.4K – 21.05 3,831.7M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE/STRIKE TYPE VOL/OI FUNDS FLOW $
UA 18.46/18.50 stock options/call 270.93 196.6M
WDC 66.75/67.50 stock options/call 128.18 339.0M
APHA 18.37/18.00 stock options/put 95.18 286.8M
ZF/B – UB 181.19 – 182.05 US bond futures 5,500 99,955.5M
CL 59.60 – 60.90 crude oil futures 2,070 124.6M

OUR PICK – A Second Revisit to Kroger (KR, NYSE)

Institutional unloading. The past few weeks have seen heavy institutional unloading, as stocks rotation took place; with TME, Viacom, Discovery being among the latest. Defensive Kroger was not excluded, as yesterday the stock took a sudden plunged of more than 4%, after guidance of a lower EPS estimate than consensus, triggered a sell-off in this 90% institutionally owned stocks. Dividends is also lower at current price, around 2% compared to 2.16% when we first revisit this stock in February. (Read more)

After Kroger managed to reach all terms targets; at this point, we see risk of a short to medium term pullback. Long term remains a buy in our view.

HORIZON STRATEGY SL TP1 TP2
Short-Term Sell 37.60 35.20 34.50
Medium-Term Sell 37.60 34.50 33.60
Long-Term Buy

Note: If you require fundamental reports for this stock, please contact your account manager or [email protected] for a copy.

 

Disclaimer:

This article is for general information purpose only. It is not an investment advice or a solicitation to buy or sell any securities. Opinions expressed are of the authors and not necessarily of MFM Securities Limited or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.