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Markets Mixed Amid Weaker Economic Data

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STATE OF THE MARKETS

Markets mixed amid weaker economic data. Major global equities indexes, except Nikkei (+0.31%), closed weaker on Tuesday after reports of slight decline in US consumer confidence and falling new home sales. Dow (-0.24%), S&P (-0.23%) and FTSE (-0.11%) failed to make new highs, while the Dollar fell and gold rose as crude went sideways, signaling mixed markets. US bonds saw more demand, sending yields lower with the 10Y benchmark registering 1.56%.

Crude was trading sideways, within the $65.50/40 band, as markets continue to assess the impact of Iran’s new supplies should the nuclear deal be revived. Easing yields and falling consumer confidence pushed gold higher, breaking the $1,900 barrier for the first time in 20 weeks.

Safe haven flows were noted in the FX markets, as Swiss regained further ground in the demand territories, with Euro, Kiwi and Loonie; as long term investors sought yields to offset inflation. Loonie and Sterling, however, were seen on offers in the short to medium term accounts. Aussie and King Dollar seemed to be in a tug of war across all horizons as gold continued to advance.

 


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G8 CURRENCIES SENTIMENTS

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

WALL ST MOST ACTIVE

TICKER LAST PRICE

% CHANGE

VOLUME 90 DAYS AVG
PIRS 3.76 + 103.24 364,033.3K 556.4K
AMC 16.41 + 19.96 213,545.0K 142,757.1K
F 12.81 – 1.91 113,337.6K 76,554.0K
EDU 10.96 + 20.84 81,065.9K 16,585.3K
UVXY 4.09  0.00 79,246.7K 93,467.1K
NIO 36.07 + 0.50 76,625.7K 90,699.8K
AAPL 126.90 – 0.16 72,004.8K 101,567.9K
PRVB 10.12 + 26.82 59,206.8K 1,292.6K
T 29.52 – 0.77 58,376.6K 46,531.5K
SQQQ 11.16 – 0.45 55,072.9K 89,888.9K
** % Change here refer to price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 604.69 27,981.0K – 12.46 16,919.8M
AMZN 3,259.05 3,258.8K – 25.29 10,620.6M
AAPL 126.90 71,967.8K – 22.54 9,132.7M
NVDA 625.91 10,876.1K + 44.00 6,807.5M
FB 327.79 16,432.8K – 23.21 5,386.5M
MSFT 251.72 17,698.8K – 36.00 4,455.1M
AMD 77.86 47,336.6K – 4.61 3,685.6M
AMC 16.41 212,567.5K + 137.77 3,488.2M
SQ 216.20 14,773.1K + 31.09 3,193.9M
GME 209.43 14,850.9K + 191.25 3,110.2M
** % change here refers to volume

TOP 5 BLOCK ORDERS

SYMBOL PRICE / STRIKE TYPE VOL/OI FUNDS FLOW $
GM 56.76 / 57.50 stock options/put 98.17 58.6M
NKLA 12.32 / 13.00 stock options/call 79.09 3,517.3M
VLDR 10.52 / 12.50 stock options/call 74.55 139.9M
6L 0.1869 – 0.1886 FX futures/BRLUSD 10,436 195.9M
CL 59.30 – 66.18 crude oil futures 4,235 270.0M

OUR PICK – AUY (Yamana Gold, NYSE)

Yields is the name of the game. Earlier this month, we picked Yamana on earnings and dividends strength and right now the stocks seemed to be standing at the 61.8% junction. We have raised the long term stop to $5.00 and still see further demand for this stock as yields seeking investors continue to protect themselves against inflation. In the world of declining dividends due to the pandemic, Yamana did the opposite and has increased dividends for the past 10 quarters. With a strong balance sheet to fund expansions, S&P GMI sees 25% upside on this stock making it fairly valued around $6.50.

HORIZON STRATEGY SL TP1 TP2
Short-Term Buy 5.00 5.50 5.75
Medium-Term Buy 5.00 5.75 6.00
Long-Term Buy 5.00 6.00 6.50

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.