Nasdaq 100 at Record High, ASX 200 Eyes RBA Meeting for Clues
NASDAQ 100, NIKKEI 225, ASX 200 INDEX OUTLOOK:
Beijing’s latest crackdown on Didi Chuxing weighed on Hong Kong’s tech sentiment
The RBA is expected to hold policy rate unchanged and twist its QE program
RBA Meeting, Oil Rally, HK Tech Pullback, Asia-Pacific at Open:
US equity futures are extending higher during early morning APAC trade after the Independence Day holiday. The Nasdaq 100 index rallied 1.15% to an all-time high on Friday, lifted by large-cap stocks such as Alphabet (+2.30%), Amazon (+2.27%) and Microsoft (+2.23%).
The technology sector regained strength amid a renewed wave of lockdowns caused by the Delta variant of the Covid-19 virus around the globe. The upcoming earnings season could provide the stock market another boost as analysts forecast a solid period of growth. This may pave the way for Nasdaq 100 to attempt higher highs in the weeks to come.
Dominicano Jimmy Llibre gana el primer lugar en Florida
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Bed Bath & Beyond shares fall on mixed results, backs forecast as turnaround continues (SPY flat). Biggest premarket movers: Goldman Sachs, Bed Bath & Beyond, JetBlue.
Here is the current market situation from CNN Money
European markets are mixed. The DAX is higher by 0.06%, while the CAC 40 is leading the FTSE 100 lower. They are down 0.43% and 0.07% respectively.
What Is Moving the Markets
Here are the headlines moving the markets.
The King Of Oilfield Services Is Back In A Big Way It is no secret that the reflation in oil prices, WTI and Brent, above $50.00/bbl in the last six months has been a boon to the companies that service oil and gas wells. This price reflation in the underlying commodities has driven increases in upstream activity as shown in the graphic below. Data- PrimaryVision, chart by author In this article, we will review the improved financial metrics of one of the biggest Oilfield Service companies (OFS), Schlumberger, (NYSE:SLB), and some things it
Oil rally could extend into summer
Elizabeth Low and Alex Longley, Bloomberg
Feb. 24, 2021
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The effects of the winter storm in Texas may be seen on crude stockpiles when government data is released Wednesday.David Paul Morris / Bloomberg
Oil climbed again, with mixed news on global inventories offset by expectations of a prolonged market rally into the summer.
Futures in New York climbed as much as 1.4%, wiping out an earlier loss. The American Petroleum Institute reported crude inventories increased by 1.03 million barrels last week, though stockpiles at a key European storage hub are at their lowest level since September, according to Genscape. The structure of the futures curve continues to indicate tighter supply.
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Oil Is Hot Again, But For How Long? By Irina Slav - Feb 18, 2021, 7:00 PM CST
From the pariah of industries last year, energy has become a Wall Street darling once again. In the year to date, energy has gained 17 percent on the S&P 500. Thanks to a rally in oil prices and expectations of an economic recovery from the pandemic, it is the S&P 500 s best-performing sector.
The catastrophic events in Texas this week lent a hand to the rally as the deep freeze in the state led to a national oil production slump of 30 percent, sending WTI above $61 a barrel. By Thursday, the slump in production had reached 40 percent, according to traders and industry insiders quoted by Bloomberg. As usual, all this has prompted analysts to revise their expectations for oil prices and the energy industry.
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