DAILY FUNDAMENTAL SNAPSHOTS
Asia Pacific stocks were down on Tuesday morning, with a new COVID-19 strain threatening to trigger a fresh wave of lockdowns and travel restrictions dampening sentiment.TheShanghai composite isdown1.91% at3,355.113. Overall, the Singapore MSCI down0.40% at 319.90.Over in Hong Kong, the Hang Seng Index down1.21% to 26,025. In Japan, the Nikkei 225 down1.16% at 26,340, while the Topix index wasdown1.37% to 1759.5. South Korea’s Kospi down1.62% to 2733.68. Australia S&P/ASX 200 down1.05% to6599.6.
European equitiesMondayclosing. The DAX futures contract in Germany traded 2.82% down at 13246.20, CAC 40 futures down2.43% at5393.3and the UK 100 futures contract in the U.K.down1.73% at 6,416.3.
In U.S. on Wall Street, the Dow Jones Industrial Average closed up0.12% at 30216.5the S&P 500down0.39% to 3694.9and the Nasdaq 100down 0.28% at12667.3,NYSE closes at 14378.849down0.61%.
In the Forex market, #GBPUSD down0.43% at 1.33998. The #USDJPY up 0.15% at103.449.The #USDCHF up0.22% at 0.88744.#EURUSD down0.19% at 1.22175, #EUR/GBPup 0.33% at 0.91190. The USD/CNY up 0.06%at 6.5503, at the time of writing.
In the #commodity market U.S. #Gold futures down0.38% at $1,869.61. Elsewhere, Silver futures down1.51% to $25.741per ounce, Platinum down1.92% at $992.10per ounce, and Palladium down0.09% to $2,314.50.
#Crude Oil downonTuesday; #Brent crude oildown 2.16% to $49.72barrel while U.S. West Texas Intermediate (CLc1) isdown 0.61% at $47.63.
In the Cryptocurrency Markets, #BTCUSD at 23816.24up0.28%, #Ethereum at603.52 down0.70%, #Litecoin at 101.97 down2.34%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
#GOLDMAN SACHS up6.133%at $256.98,#MORGAN STANLEY up5.687% at$67.83,#NIKE Inc.up 4.91% to $144.02,#CITI GROUP Inc.up 3.674% to $61.23,#TESLA Inc.down6.495% to $649.86,#TECHNIP FMC PLC down3.481% at $9.15.
Economic news:
US:A majority of the Democratic-controlled U.S. House of Representatives on Monday voted to pass a $900 billion coronavirus aid bill, which is attached to federal agency spending needed to avert a government shutdown at midnight when existing money expires.
With the bill headed toward House passage, it would next be considered by the Senate, which is standing by in what is expected to be an overwhelming vote of approval.
Eurozone: The European Union has opened two investigations into Chinese exporters to assess whether steel screws are being sold in the bloc at excessively low prices and whether optical fibre cables are benefiting from unfair subsidies.
The EU increasingly sees China as a systemic rival and has 23 investigations underway into various products exported from the country, which makes up about half of the EU's total number of investigations into trade dumping or subsidies.
One of the new investigations is into alleged dumping of iron and steel screws, bolts and washers after a complaint from the European Industrial Fasteners Institute, the EU official journal said on Monday.
The Institute alleges that Chinese exporters have increased shipments, increased market share and harmed EU producers through their low prices.
Important Data:UKGDP (QoQ) (Q3)today at2:00 this time estimate to be 15.5%,previously which was -19.8%.USGDP (QoQ) (Q3)today at8:30 this time estimate to be33.1%, previously which was -31.4%.AUSTRALIAPrivate Sector Credit (MoM) (Nov)today at19:30, previously which was 0.0%.GERMANY GfK German Consumer Climate (Jan)today at 2:00previously which was
-6.7.
Asia Pacific stocks were down on Tuesday morning, with a new COVID-19 strain threatening to trigger a fresh wave of lockdowns and travel restrictions dampening sentiment.TheShanghai composite isdown1.91% at3,355.113. Overall, the Singapore MSCI down0.40% at 319.90.Over in Hong Kong, the Hang Seng Index down1.21% to 26,025. In Japan, the Nikkei 225 down1.16% at 26,340, while the Topix index wasdown1.37% to 1759.5. South Korea’s Kospi down1.62% to 2733.68. Australia S&P/ASX 200 down1.05% to6599.6.
European equitiesMondayclosing. The DAX futures contract in Germany traded 2.82% down at 13246.20, CAC 40 futures down2.43% at5393.3and the UK 100 futures contract in the U.K.down1.73% at 6,416.3.
In U.S. on Wall Street, the Dow Jones Industrial Average closed up0.12% at 30216.5the S&P 500down0.39% to 3694.9and the Nasdaq 100down 0.28% at12667.3,NYSE closes at 14378.849down0.61%.
In the Forex market, #GBPUSD down0.43% at 1.33998. The #USDJPY up 0.15% at103.449.The #USDCHF up0.22% at 0.88744.#EURUSD down0.19% at 1.22175, #EUR/GBPup 0.33% at 0.91190. The USD/CNY up 0.06%at 6.5503, at the time of writing.
In the #commodity market U.S. #Gold futures down0.38% at $1,869.61. Elsewhere, Silver futures down1.51% to $25.741per ounce, Platinum down1.92% at $992.10per ounce, and Palladium down0.09% to $2,314.50.
#Crude Oil downonTuesday; #Brent crude oildown 2.16% to $49.72barrel while U.S. West Texas Intermediate (CLc1) isdown 0.61% at $47.63.
In the Cryptocurrency Markets, #BTCUSD at 23816.24up0.28%, #Ethereum at603.52 down0.70%, #Litecoin at 101.97 down2.34%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
#GOLDMAN SACHS up6.133%at $256.98,#MORGAN STANLEY up5.687% at$67.83,#NIKE Inc.up 4.91% to $144.02,#CITI GROUP Inc.up 3.674% to $61.23,#TESLA Inc.down6.495% to $649.86,#TECHNIP FMC PLC down3.481% at $9.15.
Economic news:
US:A majority of the Democratic-controlled U.S. House of Representatives on Monday voted to pass a $900 billion coronavirus aid bill, which is attached to federal agency spending needed to avert a government shutdown at midnight when existing money expires.
With the bill headed toward House passage, it would next be considered by the Senate, which is standing by in what is expected to be an overwhelming vote of approval.
Eurozone: The European Union has opened two investigations into Chinese exporters to assess whether steel screws are being sold in the bloc at excessively low prices and whether optical fibre cables are benefiting from unfair subsidies.
The EU increasingly sees China as a systemic rival and has 23 investigations underway into various products exported from the country, which makes up about half of the EU's total number of investigations into trade dumping or subsidies.
One of the new investigations is into alleged dumping of iron and steel screws, bolts and washers after a complaint from the European Industrial Fasteners Institute, the EU official journal said on Monday.
The Institute alleges that Chinese exporters have increased shipments, increased market share and harmed EU producers through their low prices.
Important Data:UKGDP (QoQ) (Q3)today at2:00 this time estimate to be 15.5%,previously which was -19.8%.USGDP (QoQ) (Q3)today at8:30 this time estimate to be33.1%, previously which was -31.4%.AUSTRALIAPrivate Sector Credit (MoM) (Nov)today at19:30, previously which was 0.0%.GERMANY GfK German Consumer Climate (Jan)today at 2:00previously which was
-6.7.
TOP 5 STOCKS TO WATCHOUT:-
1.#Amazon:- Amazon.com Inc was slapped with a class-action lawsuit on Thursday accusing the e-commerce giant of inflating the prices of ebooks in collusion with some publishers.
The lawsuit alleges that Amazon and the five largest U.S. publishers, collectively called the 'Big Five', agreed to price restraints that cause consumers to overpay for eBooks purchased from them through a retail platform other than Amazon.com. (https://refini.tv/2MXXVqs)
The lawsuit comes a day after Connecticut said it was investigating Amazon for potential anti-competitive behavior in its business selling digital books.
Amazon declined to comment.
About 90% of eBooks are sold through Amazon, the largest U.S. eBooks seller, the lawsuit claimed.
Law firm Hagens Berman, bringing the case, in 2011 filed a similar lawsuit against Apple Inc and the 'Big Five' over ebook prices.
2. #Google : Alphabet Inc's Google has removed some lending apps aimed at consumers in India from Play Store in an attempt to safeguard users, it said in a blog post on Thursday.
"We have reviewed hundreds of personal loan apps in India, based on flags submitted by users and government agencies," Suzanne Frey, Vice President, Product, Android Security and Privacy said in the post.
A recent investigation by Reuters found at least 10 lending apps on Play Store breached Google's rules on loan repayment lengths aimed at protecting vulnerable borrowers. It also found that a number of the lending apps also flouted central bank regulations designed to protect borrowers..
Google did not elaborate on the number of apps that had been taken down.
Google has contacted companies and asked them to clarify if they are compliant with the rules and regulations, failing which an app could be removed from the Play Store.
3.#GOLDMAN SACHS:-Goldman Sachs has partnered with card issuing startup Marqeta to build the U.S. bank's Marcus checking accounts set to launch this year, the companies said on Thursday.
The bank, an investor in California-based Marqeta, hopes that the partnership will enable it to create more personalized and feature-rich digital banking services for its customers, it said.
Launched in 2016, Marcus has allowed Goldman to diversify its revenue and funding sources by offering savings accounts and personal loans to retail customers. Until then, the bank had operated largely as an investment bank and trading house, relying on money from the wholesale market.
Goldman, which had amassed more than $96 billion in consumer deposits through Marcus as of September 2020, has been investing heavily in its retail business. It bought a personal finance app in 2018, launched a credit card with Apple Inc in 2019 and has been offering lucrative savings rates to draw in more customers.
It launched an app for Marcus a little over a year ago, finally meeting demand from frustrated smartphone users who had to view account information, make loan payments or balance transfers on the bank's website.
4. #NOKIA :- Nokia on Thursday partnered with Alphabet's Google Cloud unit to build 5G core network infrastructure and allow business customers to offer services such as smart retail and automated manufacturing.
Cloud computing units of big technology companies such as Microsoft and Amazon are also tying up with telecoms vendors ahead of deployment of 5G infrastructure to corner a share in new businesses the new technology might enable.
While Nokia will bring its 5G expertise, Google Cloud will serve as the platform for launching applications and assist customers in building an ecosystem of services.
"We will start to see some of these things in the live environment by the end of this year," Amol Phadke, Managing Director at Google Cloud.
1.#Amazon:- Amazon.com Inc was slapped with a class-action lawsuit on Thursday accusing the e-commerce giant of inflating the prices of ebooks in collusion with some publishers.
The lawsuit alleges that Amazon and the five largest U.S. publishers, collectively called the 'Big Five', agreed to price restraints that cause consumers to overpay for eBooks purchased from them through a retail platform other than Amazon.com. (https://refini.tv/2MXXVqs)
The lawsuit comes a day after Connecticut said it was investigating Amazon for potential anti-competitive behavior in its business selling digital books.
Amazon declined to comment.
About 90% of eBooks are sold through Amazon, the largest U.S. eBooks seller, the lawsuit claimed.
Law firm Hagens Berman, bringing the case, in 2011 filed a similar lawsuit against Apple Inc and the 'Big Five' over ebook prices.
2. #Google : Alphabet Inc's Google has removed some lending apps aimed at consumers in India from Play Store in an attempt to safeguard users, it said in a blog post on Thursday.
"We have reviewed hundreds of personal loan apps in India, based on flags submitted by users and government agencies," Suzanne Frey, Vice President, Product, Android Security and Privacy said in the post.
A recent investigation by Reuters found at least 10 lending apps on Play Store breached Google's rules on loan repayment lengths aimed at protecting vulnerable borrowers. It also found that a number of the lending apps also flouted central bank regulations designed to protect borrowers..
Google did not elaborate on the number of apps that had been taken down.
Google has contacted companies and asked them to clarify if they are compliant with the rules and regulations, failing which an app could be removed from the Play Store.
3.#GOLDMAN SACHS:-Goldman Sachs has partnered with card issuing startup Marqeta to build the U.S. bank's Marcus checking accounts set to launch this year, the companies said on Thursday.
The bank, an investor in California-based Marqeta, hopes that the partnership will enable it to create more personalized and feature-rich digital banking services for its customers, it said.
Launched in 2016, Marcus has allowed Goldman to diversify its revenue and funding sources by offering savings accounts and personal loans to retail customers. Until then, the bank had operated largely as an investment bank and trading house, relying on money from the wholesale market.
Goldman, which had amassed more than $96 billion in consumer deposits through Marcus as of September 2020, has been investing heavily in its retail business. It bought a personal finance app in 2018, launched a credit card with Apple Inc in 2019 and has been offering lucrative savings rates to draw in more customers.
It launched an app for Marcus a little over a year ago, finally meeting demand from frustrated smartphone users who had to view account information, make loan payments or balance transfers on the bank's website.
4. #NOKIA :- Nokia on Thursday partnered with Alphabet's Google Cloud unit to build 5G core network infrastructure and allow business customers to offer services such as smart retail and automated manufacturing.
Cloud computing units of big technology companies such as Microsoft and Amazon are also tying up with telecoms vendors ahead of deployment of 5G infrastructure to corner a share in new businesses the new technology might enable.
While Nokia will bring its 5G expertise, Google Cloud will serve as the platform for launching applications and assist customers in building an ecosystem of services.
"We will start to see some of these things in the live environment by the end of this year," Amol Phadke, Managing Director at Google Cloud.
TOP 5 STOCKS TO WATCHOUT:-
1.#TWITTER FACEBOOK -Australia will next week introduce landmark legislation to force Alphabet's Google and Facebook to pay publishers and broadcasters for content, a senior government official said on Friday.
The legislation, which Google says will be "unworkable", will make Australia the first country to require Facebook and Google to pay for news content.
"The bill will now be considered by the parliament from the week commencing 15 February 2021," Treasurer Josh Frydenberg said in an emailed statement.
The legislation is being closely watched around the world.
With bipartisan support, it could come into law this month despite the misgivings of Google, which says the law will force it to withdraw its search function.
Software giant Microsoft Corp said it was confident its search product Bing could fill the gap in Australia if Google withdrew.
Lucinda Longcroft, director of government affairs and public Policy for Google in Australia and New Zealand, said the company had proposed amendments to a Senate enquiry but they were rejected.
Nevertheless, the company still hoped to discuss the law with members of parliament.
"We look forward to engaging with policymakers through the parliamentary process to address our concerns and achieve a code that works for everyone - publishers, digital platforms, and Australian businesses and users," Longcroft said in an emailed statement.
Facebook did not immediately respond to requests for comment when contacted by Reuters.
The U.S. search and social media giants have pressed Australia to soften the legislation, with senior executives from both companies holding talks with Prime Minister Scott Morrison and Frydenberg.
Google last week launched a platform in Australia offering news it has paid for, striking its own content deals with publishers in a drive to show the proposed legislation is unnecessary.
2.#TWITTER :Twitter Inc said on Thursday it suspended the account of conservative activist group Project Veritas for repeated violations of its private information policy, which prohibits sharing, or threatening to share others' private information without consent.
The social media company also temporarily locked the account of the group's founder, James O'Keefe, for violating the same policy, a Twitter spokeswoman said in a statement.
Project Veritas said in a public Telegram post that the Tweet that led to the suspension was a video of one of their journalists asking Facebook 's VP of integrity Guy Rosen a question about censorship.
"The reporter on the ground never revealed the location," the group said, adding that it was appealing the suspension as no privacy was violated.
Twitter said O'Keefe was required to delete the violative Tweet to regain access to his personal account. He posted a video on Twitter of him doing that.
3.#FORD:- Ford Motor Chief Executive Jim Farley on Thursday publicly encouraged South Korea's chemicals and electric vehicle (EV) battery maker LG Chem Ltd and SK Innovation Co Ltd to reach a settlement on LG's battery allegations that SK stole trade secrets.
The U.S. International Trade Commission (ITC) on Wednesday sided with LG Chem, but permitted SK to import components for domestic production of lithium ion batteries for Ford's EV F-150 program for four years, and for Volkswagen of America's electric vehicle line for two years.
"A voluntary settlement between these two suppliers is ultimately in the best interest of US manufacturers and workers," Farley wrote on Twitter.
4. #GOLDMAN SACHS:- Global financial firms including Goldman Sachs , BlackRock and Fidelity International are poised to add hundreds of staff in China this year as they look to take advantage of the opening up of its $40 trillion financial sector.
Beijing in the last one-and-a-half years stepped up the pace of liberalisation mainly as part of a trade deal with the United States, and allowed foreigners to fully own their local ventures in areas including investment banking and asset management.
1.#TWITTER FACEBOOK -Australia will next week introduce landmark legislation to force Alphabet's Google and Facebook to pay publishers and broadcasters for content, a senior government official said on Friday.
The legislation, which Google says will be "unworkable", will make Australia the first country to require Facebook and Google to pay for news content.
"The bill will now be considered by the parliament from the week commencing 15 February 2021," Treasurer Josh Frydenberg said in an emailed statement.
The legislation is being closely watched around the world.
With bipartisan support, it could come into law this month despite the misgivings of Google, which says the law will force it to withdraw its search function.
Software giant Microsoft Corp said it was confident its search product Bing could fill the gap in Australia if Google withdrew.
Lucinda Longcroft, director of government affairs and public Policy for Google in Australia and New Zealand, said the company had proposed amendments to a Senate enquiry but they were rejected.
Nevertheless, the company still hoped to discuss the law with members of parliament.
"We look forward to engaging with policymakers through the parliamentary process to address our concerns and achieve a code that works for everyone - publishers, digital platforms, and Australian businesses and users," Longcroft said in an emailed statement.
Facebook did not immediately respond to requests for comment when contacted by Reuters.
The U.S. search and social media giants have pressed Australia to soften the legislation, with senior executives from both companies holding talks with Prime Minister Scott Morrison and Frydenberg.
Google last week launched a platform in Australia offering news it has paid for, striking its own content deals with publishers in a drive to show the proposed legislation is unnecessary.
2.#TWITTER :Twitter Inc said on Thursday it suspended the account of conservative activist group Project Veritas for repeated violations of its private information policy, which prohibits sharing, or threatening to share others' private information without consent.
The social media company also temporarily locked the account of the group's founder, James O'Keefe, for violating the same policy, a Twitter spokeswoman said in a statement.
Project Veritas said in a public Telegram post that the Tweet that led to the suspension was a video of one of their journalists asking Facebook 's VP of integrity Guy Rosen a question about censorship.
"The reporter on the ground never revealed the location," the group said, adding that it was appealing the suspension as no privacy was violated.
Twitter said O'Keefe was required to delete the violative Tweet to regain access to his personal account. He posted a video on Twitter of him doing that.
3.#FORD:- Ford Motor Chief Executive Jim Farley on Thursday publicly encouraged South Korea's chemicals and electric vehicle (EV) battery maker LG Chem Ltd and SK Innovation Co Ltd to reach a settlement on LG's battery allegations that SK stole trade secrets.
The U.S. International Trade Commission (ITC) on Wednesday sided with LG Chem, but permitted SK to import components for domestic production of lithium ion batteries for Ford's EV F-150 program for four years, and for Volkswagen of America's electric vehicle line for two years.
"A voluntary settlement between these two suppliers is ultimately in the best interest of US manufacturers and workers," Farley wrote on Twitter.
4. #GOLDMAN SACHS:- Global financial firms including Goldman Sachs , BlackRock and Fidelity International are poised to add hundreds of staff in China this year as they look to take advantage of the opening up of its $40 trillion financial sector.
Beijing in the last one-and-a-half years stepped up the pace of liberalisation mainly as part of a trade deal with the United States, and allowed foreigners to fully own their local ventures in areas including investment banking and asset management.
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#GBPAUD
BUY=1.81675
TARGET=1.82063
SL=1.81360
#SILVER
SELL =24.599
TARGET=24.382
SL=24.932
#GOLDMAN SACHS
SELL=327.25
TARGET=323.43
SL=335.12
#ETHEREUM
BUY=2013.40
TARGET=2080.89
SL=1979.40
#NASDAQ 100
SELL =13316.24
TARGET=13277.85
SL=13371.83
#GBPAUD
BUY=1.81675
TARGET=1.82063
SL=1.81360
#SILVER
SELL =24.599
TARGET=24.382
SL=24.932
#GOLDMAN SACHS
SELL=327.25
TARGET=323.43
SL=335.12
#ETHEREUM
BUY=2013.40
TARGET=2080.89
SL=1979.40
#NASDAQ 100
SELL =13316.24
TARGET=13277.85
SL=13371.83