Market Review 07-08

Market Review 07-08

Disney Earnings: What To Expect From DIS Stock

 

By Wayne Duggan

 

Walt Disney Company is expected to report earnings on August 7, after market close.

 

Wall Street analysts are expecting Disney to report third-quarter earnings per share of $1.95. They are also expecting revenue of $15.34 billion on the quarter, representing 7.7 percent year-over-year growth.

 

Bank of America is predicting third-quarter EPS of $1.84 on revenue of $15.29 billion for Disney.

 

“Despite well-telegraphed uncertainties surrounding the legacy TV industry, we believe DIS’s best-in-class [intellectual property] and execution position the company for continued growth as it scales up in content and enhances geographic diversification and more aggressively pursues streaming growth opportunities,” Reif says.

 

Bank of America has a “buy” rating and $144 price target for DIS stock.

 

https://money.usnews.com/investing/stock-market-news/articles/2018-08-06/walt-disney-co-dis-stock

 

 

 

US sanctions on Iran could push oil prices above $90 a barrel by year-end, analyst says

 

By Sam Meredith

 

  • “As we go more towards (the fourth quarter) … that’s when we really see the risk of prices going well into the 80s and potentially even into the 90s but very critical is how much Iranian production we lose,” Amrita Sen, chief oil analyst at Energy Aspects, told CNBC’s “Squawk Box Europe” on Monday.
  • Investors are seen weighing bullish factors that include potential supply disruptions to Iranian crude exports against more bearish indicators, such as a ramp-up in production by OPEC and its allied partners.
  • President Donald Trump’s decision to pull the U.S. out of an international agreement to curb Iran’s nuclear program is widely expected to severely hinder the world’s fifth-largest oil producer.

 

https://www.cnbc.com/2018/08/06/us-sanctions-on-iran-could-push-oil-prices-above-90-a-barrel-by-year-.html

 

 

Gold Price Analysis: Risk-Reward Favours Large Bullish Reversal

 

By Justin McQueen

 

GOLD FAILING TO RECEIVE A MUCH-NEEDED BOOST

Gold prices have continued to remain on the backfoot amid the gains in the USD, which has received a boost from the pickup in US yields as the Federal Reserve looks to hike another two times this year.

 

Over the past couple of months, the correlation between the Yuan and gold has seen a notable increase in the wake of the escalating trade spat between the US-China. Consequently, the slide in the Yuan has also coincided with the fall in gold prices.

 

GOLD SPECULATORS POSITIONING RAISES PROSPECT OF BULLISH REVERSAL

Given that the price of gold has fallen near 11% since its peak in April, risk-reward is most definitely on the upside. While record net-short position provides us with a good indicator that we are on the verge of a break to the upside, it does not however, provide us with a good signal that the near term bottom has been reached. $1200/oz remains to be key support for the precious metal, while RSI indicators dipping in oversold territory suggests the $1200 level may continue to hold for now.

 

https://www.dailyfx.com/forex/market_alert/2018/08/06/Gold-Price-Analysis-Risk-Reward-Favours-Large-Bullish-Reversal.html

 

 

GBPUSD Looking to Burst Support on Negative Brexit Talk

 

By Nick Cawley

 

GBPUSD is struggling to hold the current lowly levels and may break even further lower as the British Pound weakens on negative Brexit news while the US dollar remains firm on higher interest rate expectations. Over the weekend, UK international trade secretary Liam Fox said that there is now a 60-40 chance of a no-deal Brexit, saying “the intransigence of the EU Commission is pushing us towards a no-deal”. This latest caution follows a warning from Bank of England governor Mark Carney last Friday who said that the risk of a no-deal Brexit was uncomfortably high.

 

https://www.dailyfx.com/forex/market_alert/2018/08/06/GBPUSD-Looking-to-Bust-Support-on-Negative-Brexit-Talk.html

 

 

USD/CAD Soars After Saudi Arabia Freezes Trade With Canada

 

By Megha Torpunuri

 

The Canadian Dollar started Monday’s trading session sharply lower against its US counterpart after news of Saudi Arabia expelling the Canadian ambassador crossed wires. The Saudi Press Agency, the nation’s official news outlet, also announced that the country would freeze all new trade and investment deals with Canada.

 

Negative impacts of the Saudi Arabian investment and trade embargo may be overshadowed by Canada’s higher inflation and better than expected economic growth.

 

Looking ahead, the Loonie faces the release of important housing and employment data later this week. Although local unemployment rate is forecasted to decrease to 5.9% from the previous 6.0%, July’s net change in employment is expected to lower to 19.0k as opposed to June’s 31.8k. Monthly building permits are also expected to decrease by 1.2%, falling from 4.7% prior. These tempered expectations of Canadian economic growth, combined with economists’ forecasts of 2.9% for July’s y/y US CPI, could cause USD/CAD to surge in the coming days.

 

https://www.dailyfx.com/forex/market_alert/2018/08/06/USDCAD-Soars-After-Saudi-Arabia-Freezes-Trade-With-Canada.html

 

 

Goldman Sachs sees more price pain ahead for bitcoin

 

By Kate Rooney

 

  • The investment bank highlighted “cryptocurrency mania” as one of six factors creating an unsteady undertow affecting markets for the remainder of 2018.
  • Goldman expects even more price declines for bitcoin, even after the cryptocurrency lost 50 percent of its value this year.
  • “We expect further declines in the future given our view that these cryptocurrencies do not fulfill any of the three traditional roles of a currency,” says Sharmin Mossavar-Rahmani, Goldman Sachs chief investment officer of the private wealth management group.

 

https://www.cnbc.com/2018/08/03/goldman-sachs-sees-more-price-pain-ahead-for-bitcoin.html

 

 

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