Breaking

Stocks Surged Higher As The Dollar Firm

Views: 789
1 0

STATE OF THE MARKETS

Stocks surged higher as the Dollar firm. US stocks surged higher on Wednesday after a series of solid earnings from PayPal (PYPL), Lam Research (LRCX), Starbucks (SBUX) and AutoHome (ATHM) brought back buyers into bidding as the Dollar firm near the 106.50 minor handle. Nasdaq (+2.59%) jumped the most, followed by S&P (+1.56%), Russell (+1.41%) and Dow (+1.29%) as the 10Y benchmark was sold off, sending yields higher to 2.85% before bidders emerged to force yields back to 2.70%.

In the commodity markets, global growth concerns and firm Dollar continue to weigh on crude that fell lower and settled below $90.40/bl as New York closed. Tensions in South East Asia saw gold bid higher and continue to climb past $1780/oz in early Thursday trading. Elsewhere, iron ore fell back to $110.10/tn as buyers fizzled amid demand concerns.

In the FX space, overall sentiments mixed as demand for high beta Kiwi, Aussie and Loonie were elevated despite the reign of Yen in the medium and long term accounts. Short term traders continue to sell Yen, Swiss and Dollar while buying Kiwi, Aussie and Loonie.

On Thursday, markets expect to scoop further bargains as more earnings reports come in from Eli Lilly (LLY), Alibaba (BABA), Amgen (AMGN), ConocoPhillips (COP), Cigna (CI), Duke Energy (DUK), Zoetis (ZTS), Vertex Pharma (VRTX) and Block (SQ) as well as the latest US jobless claims and the trade balance.


G8 CURRENCIES SENTIMENTS

ST NZD AUD CAD EUR GBP USD CHF JPY ST
MT JPY NZD GBP CHF USD CAD EUR AUD MT
LT JPY AUD NZD CAD USD CHF GBP EUR 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
EAR 1.23 + 75.64 148,639.5K 918.3K
SOFI 8.23 + 28.39 147,519.9K 41,251.3K
TQQQ 35.64 + 8.00 146,829.3K 160,549.6K
AMD 98.09 – 1.21 131,029.9K 101,608.8K
SQQQ 37.06 – 7.99 124,004.7K 115,641.8K
APDN 4.10 + 46.53 108,542.1K 1,401.0K
F 15.69 + 3.50 95,841.5K 62,853.3K
AMTD 6.25 – 10.71 83,627.6K 3,945.2K
AAPL 166.13 + 3.82 82,433.7K 88,607.2K
AMZN 139.52 + 4.00 71,733.2K 81,342.8K
** % Change here refers to price vs previous day price


WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
TSLA 922.19 26,644.6K – 11.52 24,571.4M
AAPL 166.13 82,433.7K + 14.57 13,694.7M
AMD 98.09 131,029.9K + 53.36 12,852.7M
AMZN 139.52 71,733.2K + 7.72 10,008.2M
NVDA 188.93 41,772.8K – 18.02 7,892.1M
MSFT 282.47 23,495.0K – 11.86 6,636.6M
META 168.80 31,683.6K + 5.08 5,348.2M
PYPL 97.92 53,731.8K + 239.88 5,261.4M
GOOGL 118.08 28,469.5K – 24.29 3,361.7M
GOOG 118.78 25,282.0K – 16.92 3,003.0M
** % change here refers to volume vs. 20 days average volume.


TOP 5 BLOCK ORDERS

TICKER PRICE TYPE VOL/OI FUNDS FLOW
AFRM 31.89 stock/options 202.75 573.1M
WBD 16.71 stock/options 178.45 360.9M
SOFI 8.23 stocks/options 148.19 1,215.7M
YM 13,258.50 NASDAQ futures 9,595 127.3M
NQ 32,773.00 DOW futures 2,848 93.5M


OUR PICK – AUD/JPY

Medium term under pressure with long term upside capped. Sentiments model showed upside remained capped while medium term continue to be under pressure. The sell-off in the London session signaled a resumption of Yen buying as markets weary of the US-China tension amid Taiwan visit by the US house speaker Pelosi. We see the risk of another drop to the downside.

 

HORIZON STRATEGY SL TP1 TP2
Short-Term Sell 94.00 92.00 91.20
Medium-Term Sell 94.00 91.20 90.50
Long-Term Sell 94.00 91.20 90.00

 

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.