Positive earnings results drive US markets higher
Published 18-APR-2017 10:00 A.M.
|
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
The Dow recovered nearly all of last week’s losses on Monday as it gained 0.9% to close at 20,636 points. While the CBOE Volatility Index (VIX) only pulled back slightly to remain close to last week’s five month high, investors appeared to set aside concerns regarding geopolitical issues to focus on some promising earnings results, particularly in the financial sector.
On the score of potential external issues impacting the markets though, gold is another indicator of risk sentiment and it hit an intraday high of US$1297 per ounce before closing at US$1286 per ounce.
While the precious metal hit an intraday high of US$1337 per ounce as the presidential election unfolded, it closed at US$1277 per ounce on that day, indicating Monday’s close was comparatively high.
Back to equities markets though, it was all about financials and there were strong performances from JP Morgan Chase, American Express and Goldman Sachs. Outside the financial sector, there was also good support for Boeing and Nike.
Tech stocks also made a comeback with the NASDAQ surging 0.9% to close at 5856 points, less than 1% shy of the psychological 5900 point mark.
UK markets and most European bourses were closed, including the London Metals Exchange.
However, as a guide to how other global markets are weighing up heightening geopolitical tensions, trading in China and Japan on Monday provided some insight.
In Japan, the Nikkei 225 spent most of the session in negative territory, and it was down more than 100 points at one stage before eking out a 0.1% gain in the last hour of trading.
The Hang Seng came off 0.2% to close at 24,261 points.
Iron ore slid another 2.4%, and it is now tracking in the vicinity of US$66 per tonne.
Oil gave up all of last week’s gains which saw it push up close to the US$54 per barrel mark to finish at US$52.75 per barrel on Monday.
The Australian dollar is fetching just shy of US$0.76.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.