What to watch Black Friday: Today marks the official start of the Black Friday sales event (although many outlets started cutting prices weeks ago). With many retailers around the world (particularly in the UK) locked down because of Covid, all the signs point firmly at the online retail giants to clean up once again. Last…
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GOLD The breakdown of the support level of $1,850 has damaged the medium-term trend for gold, opening space for further correction. Positive news regarding Covid vaccines has pushed investors to bet on riskier assets, temporarily reducing their exposure to gold. With US markets working shorter hours today due to the Thanksgiving long weekend, there are…
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What to watch US Markets: Stock markets in the US are closed on Thursday for Thanksgiving, and close early (1pm ET) on Friday, so there will be no companies reporting today from the US and limited activity on Friday. Reach plc: UK red-top media firm Reach plc is reporting its interim results on Friday. The…
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OIL There are two main drivers behind the oil price rally of the last few weeks. The first and main one is the positive vaccine developments. The second one is related to OPEC and OPEC+ meetings, as investors are expecting an extension of the current cuts, which seems already priced in by the markets. Is…
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What to watch Deere & Company: Agricultural machinery firm Deere has added more than 50% to its share price in 2020, including a 27% gain over the past three months. While the lifting of pandemic-induced lockdowns is positive for the stock, the economic damage done by Covid is likely to have put a dent in…
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What to watch Best Buy: Electronics retailer Best Buy has gained 39% this year, and more than 64% over the past 12 months, as mass working from home has led to a surge in demand for laptops, monitors and other consumer electronics. The firm delivers its latest quarterly earnings update on Tuesday, just days ahead…
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GOLD The extended period of risk on finally hit gold with the price breaking the support level of $1,850 to plunge to the lowest level since July. This negative correlation with risk is nothing new for gold as investors are continuing to invest on riskier assets instead, betting on a quick solution to Covid-19. The…
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What to watch Agilent Technologies: Laboratory instrument firm Agilent is up 30% year-to-date, including a 12.8% gain over the past three months. The firm delivers its latest set of quarterly earnings on Monday, after delivering significant earnings beats in the previous two quarters. Earlier in November, the firm announced that it has had a new…
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OIL Stocks started the week in green in the early trading. In this still “risk on” scenario, the oil price is extending its gains. Investors are betting on the efficacy of the vaccine and with it, slowing numbers of coronavirus cases within a few months. These expectations – which of course will need to be…
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What to watch Foot Locker: Over the past three months retailer Foot Locker’s share price has surged by 52%, pushing it to a 6% gain year-to-date, after the lifting of lockdown restrictions allowed its stores to reopen. Footlocker delivers its Q3 earnings report this morning in the US, where investors will be keen to hear…
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