Market Review 17-08

Market Review 17-08

Buying Opportunity In Alibaba Stock

 

By Andres Cardenal

 

  • Due to trade war fears, Alibaba stock is down by 18% from its highs of the year.
  • The company is growing at full speed, and the future looks clearly promising.
  • At current prices, the short-term dip in Alibaba stock looks like a buying opportunity for long-term investors.

 

Looking at the company’s financial performance for the quarter ended in March of 2018, it’s hard to see why the stock is down lately. Total revenue during the period amounted to $9.87 billion, increasing by 61% year over year. The company ended the quarter with 552 million users on its China retail marketplaces, an increase of 37 million new users from December 31, 2017. Revenue in the cloud computing business jumped by 103% year over year.

 

Alibaba Group Holding Limited is expected to report earnings on 08/23/2018 before market open. The report will be for the fiscal Quarter ending Jun 2018.

 

https://seekingalpha.com/article/4199257-buying-opportunity-alibaba-stock

 

 

Why Apple, Alphabet and Facebook Aren’t Overvalued

 

By Matthew Johnston

 

Despite years of outperformance, some analysts still consider big technology stocks Apple Inc. (AAPL), Alphabet Inc. (GOOG) and Facebook Inc. (FB) to be “value stocks.” All three are still “great bargains,” according to Monness, Crespi, Hardt analyst Brian White, per an interview with CNBC. He calls Apple “the most underappreciated stock in the world.” With Apple trading at around $209 on Wednesday morning, White’s price target of $275 implies further upside of more than 30% even after the stock has gained more than 20% so far this year.

 

To analysts like White, the price of these three stocks got even more attractive today as they fell with the broader market downdraft amid jitters over trade tensions.

 

The valuation of these three stocks is higher than the average S&P 500 company, but these stocks’ growth potential is what makes them value plays for White and others.

 

https://www.investopedia.com/news/why-apple-alphabet-and-facebook-arent-overvalued/

 

 

AUD/USD Rises on Trade War News, Ignores Mixed Employment Data

 

By Megha Torpunuri

 

The Australian Dollar appreciated against its US counterpart after news broke that the Chinese Vice Commerce Minister would visit the United States in late August for trade talks, mostly ignoring the release of local jobs data early into Thursday’s Asia Pacific trading session.

 

However, the risk-on unit’s upside momentum may lack follow-through due to the lack of lasting influence on the Reserve Bank of Australia’s policy implications. Although local economic data has recently started to outperform economists’ expectations, the Reserve Bank of Australia is unlikely to consider a rate hike soon as it has maintained that the 1.50% OCR is appropriate for sustainable growth and their inflation target.

 

https://www.dailyfx.com/forex/market_alert/2018/08/16/AUDUSD-Rises-on-Trade-War-News-Ignores-Mixed-Employment-Data.html

 

 

WTI consolidates the downside around $ 65

 

By Dhwani Mehta

 

WTI (oil futures on NYMEX) extends its consolidative phase around the $ 65 handle in the European session, as the bear await fresh impetus for the next push lower.

 

The barrel of WTI stalled its recovery from two-month lows just ahead of the $ 65 level, but held steady so far this Thursday, having found support from the renewed trade talks between the US and China likely to take place later this month.

 

Attention now turns towards the US rigs count data due today for fresh direction. In the meantime, any developments between the US and China on the trade issue for any impact on the higher-yielding asset, oil.

 

https://www.fxstreet.com/news/wti-consolidates-the-downside-around-65-201808160927

 

 

Market Sentiment Improves on Supportive News from China and Turkey

 

By Martin Essex

 

China said Thursday that it will attend a fresh round of US-China trade talks in Washington later this month. Meanwhile, Qatar has said it will invest $15 billion in Turkey and the Turkish finance minister is to host a presentation to investors today in an attempt to reassure them the country is committed to stabilizing the Turkish Lira.

 

In response, USDTRY is continuing to slide lower after its previous sharp gains, with the Lira helped too by Turkish measures to limit short selling of the currency by foreign funds.

 

https://www.dailyfx.com/forex/market_alert/2018/08/16/Market-Sentiment-Improves-on-Supportive-News-from-China-and-Turkey.html

 

 

Bitcoin price analysis: Could reclaim $6,400, the bulls are not ready to give up control just yet

 

By John Isige

 

  • Bitcoin is up more than 1% on a daily basis; short-term resistance target is $6,400.
  • Bitcoin buyers continue to gain more control; for them the only way is up following the declines that took BTC/USD below $6,000.

 

https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-analysis-could-reclaim-6-400-the-bulls-are-not-ready-to-give-up-control-just-yet-201808160810

 

 

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