Market Review 31-08

Market Review 31-08

Morgan Stanley raises its Amazon price target to the highest on Wall Street, predicts $1.2 trillion valuation

By Tae Kim

Morgan Stanley is getting more bullish on Amazon shares even after its stunning gains this year.

The firm reiterated its overweight rating and increased its price target to $2,500 per share from $1,850, representing 29 percent upside to Tuesday’s close. It is the highest target out of the 41 analysts who cover Amazon, according to FactSet.

At a $2,500 stock price, Amazon would have a market valuation of about $1.2 trillion.

https://www.cnbc.com/2018/08/29/morgan-stanley-raises-amazon-target-to-street-high-sees-1point2-trillion-valuation.html

 

 

Amazon’s surge drives the Nasdaq 100 to an all-time high

By Sara Salinas

Amazon stock is up 70 percent in 2018 and has more than doubled in the last 12 months.

Shares of Amazon gained nearly 4 percent Wednesday after a price target boost from Morgan Stanley, and it drove the Nasdaq 100 to an all-time high.

The index has been trading at record levels all week amid overall market gains.

https://www.cnbc.com/2018/08/29/amazon-rises-drives-the-nasdaq-100-index-to-all-time-high.html

 

Three incredible stats about Apple as it tracks for its best month since 2012

By Keris Lahiff

Since hitting $1 trillion earlier this month, Apple has continued to break records.

It just hit another all-time high, its 12th so far this month.

Just this month alone, the world’s largest company by capitalization has added around $140 billion to its market value. To put that into context, that’s the same size as Nike or IBM’s entire market cap.

Apple’s services segment sales reached a record high of $9.5 billion in its recent quarter, up 31 percent from a year earlier. It currently accounts for 13 percent of total revenue.

Morganlander expects a 6 percent total return over the next 12 months in Apple shares.

https://www.cnbc.com/2018/08/29/three-incredible-stats-about-apple-as-it-tracks-for-its-best-month-since-2012.html

 

Swedish Krona at Crisis Levels 11 Days Before Historic Election

By Love Liman

The Swedish currency is trading at levels not seen since the global financial crisis as the Nordic country girds for an historic election that has the potential to dramatically change its political landscape.

The decline followed weak retail sales data earlier in the week and brings the Swedish currency’s losses this year to more than 8 percent against the euro.

The slump in the krona also coincides with a central bank rate decision next week. Currency traders have been acting on concerns that the Riksbank may again delay plans to start raising rates from record lows as it waits for clear signs that inflation is sticking to a 2 percent target. The central bank is due to announce its next decision on Sept. 6, just three days before the election.

https://www.bloomberg.com/news/articles/2018-08-29/swedish-krona-at-crisis-levels-11-days-before-historic-election

 

NZD/USD Review: Bull breakout failed, yield differential hit 3.5-month low

By Omkar Godbole

The NZD took a beating in Asia after the New Zealand August business confidence reading printed at a decade low.

The ANZ business confidence fell to -50.3 in August and the details of the report revealed that 5 percent of firms surveyed by ANZ intended to reduce investment.

Further, a net 50.3 percent of survey respondents expected economic conditions to deteriorate in the year ahead. The gloomy outlook forced investors to venture out of the NZD.

More importantly, the spread between the US 10-year treasury yield and the New Zealand 10-year government bond yield dropped to -29 basis points today, the lowest level since May 15.

So, it seems safe to say that could suffer deeper losses in the next few days, especially if the rising trendline is breached on a daily closing basis.

https://www.fxstreet.com/news/nzd-usd-review-bull-breakout-failed-yield-differential-hit-35-month-low-201808300452

 

 

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