7 Jun

Nikkei 225 Gains despite Underwhelming Economic Data

WRITTEN BY Mayur Sontakke, CFA, FRM

Nikkei 225

The Nikkei 225 gained today after losing marginally yesterday. The index gained 0.53% today to end the day (and the week) at 20,844.71. During the week, the index gained 1.38%, advancing on two days and dropping on three. 2,404 stocks gained on the Tokyo Stock Exchange today, while 1,078 fell.

Economic data was disappointing

Today, Japan’s Statistics Bureau released consumption data for April. While the consumption expenditure rose 1.3% in real terms in April on a year-over-year basis, the same fell 1.4% over March’s. Analysts were expecting a 2.6% increase on a year-over-year basis and a -0.3% fall over March 2019. On a positive note, average cash earnings fell less than expected.

In a separate release, Japan’s Cabinet office released indexes of business conditions for April today. The data pointed to worsening conditions. Consumer confidence came in at the lowest since February 2016.

Japan-focused ETFs

On June 6, all major Japan-focused ETFs moved only marginally. The iShares MSCI Japan ETF (EWJ) gained 0.11%, while the WisdomTree Japan Hedged Equity Fund (DXJ) lost 0.12%. The JPMorgan BetaBuilders Japan ETF (BBJP) stayed steady yesterday.

KOSPI gains too

South Korea’s KOSPI index gained marginally today. The index advanced 0.16% to end the day and the week at 2,072.33. The index gained 1.5% this week. Yesterday, the iShares MSCI South Korea Capped ETF (EWY) stayed steady on the NYSE Arca.

Latest articles

This year, Pfizer (PFE) stock has fallen 0.34% and Bristol-Myers Squibb (BMY) stock has fallen 6.48%. Both companies are focused on strengthening their position in the high-growth oncology and immunology markets. Let's take a closer look at each.

Walt Disney’s (DIS) latest movie, Toy Story 4, has reportedly broken records in the opening weekend with $118 million in sales. However, the opening weekend collection was behind analysts’ expectations of at least $150 million in the first weekend.

24 Jun

Will Home Depot’s Upward Momentum to Continue?

WRITTEN BY Rajiv Nanjapla

As of June 21, Home Depot (HD) was trading at $209.39, which implies a rise of 9.7% since the announcement of its first-quarter earnings on May 21. Also, the company was trading at a premium of 32.4% from its 52-week low of $158.09 and a discount of 2.8% from its 52-week high of $215.43.

On June 21, Aurora Cannabis (ACB) made an announcement that indicated that it will move towards higher margin vape products. In addition, the company also believes concentrates and edibles will command higher margins. In anticipation of this development, the company announced the expansion of its facility to capitalize on growth related to these segments.

Shares of Mondelēz International (MDLZ) are scaling new heights thanks to its stellar gains so far this year. Mondelēz stock is up 38.0% on a YTD (year-to-date) basis, and it closed at $55.25—just a shade lower than its 52-week high of $55.71—on June 21.

24 Jun

How Long Will Facebook's Libra Fuel Bitcoin Rally?

WRITTEN BY Mayur Sontakke, CFA, FRM

Ever since the news about Facebook’s (FB) cryptocurrency project broke, Bitcoin has rallied on the hope that Facebook’s entry in the space will help make cryptocurrencies mainstream. Facebook’s cryptocurrency will be called Libra and will be governed by an association with 28 founding members across industries.

172.31.59.107