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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What to watch Intuit: Finance and accounting software firm Intuit has gained 35% in 2020, including a 14% increase over the past three months. The firm sells popular products TurboTax and QuickBooks, and owns a huge portion of the online tax preparation market in the US. Intuit delivers its latest set of quarterly earnings today,…
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GOLD In the last few days a stream of positive updates about vaccines have pulled up stocks. The general risk on scenario hit the gold price, triggering a notable decline last week. Yesterday, bullion dropped a further 1% on the news of the increased percentage success of Pfizer’s vaccine. So far the price has managed…
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What to watch Nvidia: GPU (graphics processing unit) maker Nvidia’s stock has been a high flyer in 2020, adding 128% year-to-date, as it has benefited from companies needing to spend on data centers and consumers stuck at home turning to video games. Today after the market close, the company will deliver its Q3 results, where…
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GOLD In the last few days we have seen a general decline in volatility, which has also been reflected on gold with the price steady at 1,880, waiting for new market drivers. We are seeing an interesting challenge between the risk on, which is still dominating markets and is a bearish element for gold, and…
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What to watch Walmart: Supermarket giant Walmart has gained 28% in 2020 so far, as its status as a seller of essential goods meant it was able to keep stores open during Covid-19. The business has also had substantial success with its online efforts and has launched Amazon Prime rival Walmart+ this year. The firm…
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GOLD Gold is steady with no clear direction. The price has been affected by the general risk on scenario, which has boosted stock markets in the last few days. Investors are betting on riskier assets, reducing or at least not increasing their gold reserves. It is worth pointing out that bullion rebounded on the support…
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From a technical point of view, a retest of the 100% weekly Fibonacci retracement area, in other words full retracement of the dollar’s gains at the end of Q1 2020, looks likely sooner or later. Although volume has remained low since the middle of last week, the slow stochastic (15, 5, 5) has now emerged…
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What to watch Palo Alto Networks: Cybersecurity has been an industry in the spotlight this year, as mass working from home and companies shifting to the cloud has necessitated an overhaul of security systems. Palo Alto Networks has gained 12% this year, taking its market cap close to the $25bn mark. The company delivers its…
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