Market Review 14-6

Market Review 14-6

Twitter shares jump after JP Morgan raises price target, citing higher advertising sales

 

By Tae Kim | @firstadopter

 

A top Wall Street firm is getting more optimistic on Twitter’s prospects.

 

J.P. Morgan raised its price target to $50 from $39 for the social media company’s shares, citing improving conversations with advertisers.

 

Twitter shares closed up 5 percent Tuesday. The new price target is 21 percent higher than Monday’s closing price.

 

The analyst predicts the 2018 FIFA World Cup will benefit the company’s ad sales as a result of its “real-time highlights” video partnership with Fox Sports.

 

https://www.cnbc.com/2018/06/12/twitter-shares-jump-after-jp-morgan-raises-price-target.html

 

 

 

DAX Index Forecast – DAX Under Pressure Again, Ahead of ECB

 

By Colin First

 

The DAX has been having a tough time cracking 13000

 

The Asian and the US stock indices ended on a decent note but the factors within Europe seemed to have weighed on the DAX during this period and that is the reason why we saw it fall.

 

The Eurozone data seems to be getting once again and as we have been seeing over the last few weeks, it always acts contrary to what the investors and the traders would normally expect from the markets. The DAX reacts negatively to such good data as some good incoming data would mean that the tapering and the end of QE is drawing near. With the ECB also sounding bullish over the last month or so, it is pretty apparent that the ECB is viewing the end of QE as one of the tools to prop up the economy and also help some governments to tackle the turmoil that they are in.

 

Looking ahead to the rest of the day, we believe that the DAX would continue to trade under pressure over the coming days and this should keep the bears busy. The index seems to be locked in a large range between the 12500 and the 13000 regions for now and unless there is a breakout on either side, it is unlikely that we are moving anywhere soon.

 

https://www.fxempire.com/forecasts/article/dax-index-forecast-dax-pressure-509701

 

 

 

Pound euro exchange: GBP vs EUR tumbles as BoE rate hike hopes crushed

 

By MATTHEW ANDREWS

 

According to data published by the Office for National Statistics (ONS) the UK’s inflation rate held at 2.4 per cent in May, falling short of forecasts for a modest rise to 2.5 per cent.

 

This leaves inflation at a one-year low and comes as another blow to the pound as it further dampens the odds of the Bank of England (BoE) pursuing a rate hike in the second half of 2018.

 

The ONS reports that while a sharp jump in fuel prices helped to support inflation last month this was offset by a drop in the cost of computer games, energy prices and food and drink.

 

Looking ahead, the GBP/EUR exchange rate may trend lower again on Thursday as the focus turns to the European Central Bank’s (ECB) latest policy meeting.

 

Hints from the ECB’s Peter Praet last week suggest this month’s meeting will see policymakers finally begin discussing the bank’s exit from its stimulus programme, the first step towards the ECB normalising its monetary policy and likely prompting the euro to surge.

 

Meanwhile the UK will publish its latest retail sales figures today, potentially accelerating the losses in GBP/EUR.

 

Current forecasts suggest that sales growth will have slumped from 1.6 per cent to 0.5 per cent in May, as retail activity begins to normalise after a sharp uptick in April, likely dragging on the pound.

 

https://www.express.co.uk/finance/city/973600/pound-euro-exchange-rate-interest-rate-rise-hopes-wrecked

 

 

Oil prices drop as supplies increase

 

By Reuters

 

The Organization of the Petroleum Exporting Countries and some non-OPEC producers, including Russia, started withholding output in 2017 to reduce a global supply overhang and prices have risen by around 60 percent over the last year.

 

But OPEC said on Tuesday the outlook for the oil market in the second-half of this year was highly uncertain, and warned of downside risks to demand.

 

OPEC will meet on June 22 in Vienna, Austria, to discuss future production policy.

 

https://www.investing.com/news/commodities-news/oil-prices-fall-on-prospect-of-rising-supplies-1490457

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