Next Investors logo grey

US markets stabilise as European markets nurse a hangover

Published 19-MAY-2017 10:36 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

US markets delivered an unconvincing recovery on Thursday with the Dow finishing up 0.27% to 20,663 points. However, it was only in the last two hours that the index demonstrated any sustained momentum from the previous day’s close.

Furthermore, the 40 point sell-off in the last 15 minutes of trading appeared somewhat panic driven.

One of the better news stories was Wal-Mart Stores Inc as its shares surged after the company delivered an earnings result that was ahead of consensus forecasts.

There seemed to be more confidence around NASDAQ stocks as the index climbed circa 0.5% in the first hour of trading. This was maintained throughout the day with the index closing up 0.7% at 6055 points.

It was the big names that drove the recovery with Apple Inc, Inc and Facebook Inc delivering solid gains.

Trump fever hit European markets overnight with the FTSE 100 plummeting 0.9% to close at 7436 points.

The Paris CAC 40 came off 0.5%, while the DAX was slightly more resilient shedding 0.3% to close at 12,590 points.

On the commodities front, oil rallied strongly from circa US$48 per barrel to hit an intraday high of US$49.60 per barrel before closing not far short of that mark.

Gold gave up some of yesterday’s gains, pulling back 1% to close at US$1246 per ounce.

Iron ore was relatively flat at US$61.60 per tonne per tonne.

Base metals all finished in negative territory, although nickel only fell marginally.

Lead and zinc were the hardest hit, coming off 1.8% and 0.8% respectively.

Copper fell 0.4% to US$2.52 per pound.

The Australian dollar is fetching US$0.742.

This article is General Information and contains only some information about some elements of one or more financial products. It may contain; (1) broker projections and price targets that are only estimates and may not be met, (2) historical data in terms of earnings performance and/or share trading patterns that should not be used as the basis for an investment as they may or may not be replicated. Those considering engaging with any financial product mentioned in this article should always seek independent financial advice from a licensed financial advisor before making any financial decisions.

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.