{"id":84403,"date":"2020-01-17T09:06:55","date_gmt":"2020-01-16T22:06:55","guid":{"rendered":"https:\/\/www.fnarena.com\/?p=84403"},"modified":"2020-01-17T11:19:11","modified_gmt":"2020-01-17T00:19:11","slug":"the-overnight-report-more-records-trillions-and-blue-sky","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2020\/01\/17\/the-overnight-report-more-records-trillions-and-blue-sky\/","title":{"rendered":"The Overnight Report: More Records, Trillions And Blue Sky"},"content":{"rendered":"

More all-time records were broken on Wall Street last night with Alphabet's (Google) market cap rising above US$1trn?<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
World Overnight<\/strong><\/span><\/td>\n<\/tr>\n
SPI Overnight (Mar)<\/strong><\/span><\/td>\n7025.00<\/strong><\/span><\/td>\n+ 36.00<\/strong><\/span><\/td>\n0.52%<\/strong><\/span><\/td>\n<\/tr>\n
S&P ASX 200<\/strong><\/span><\/td>\n7041.80<\/strong><\/span><\/td>\n+ 47.00<\/strong><\/span><\/td>\n0.67%<\/strong><\/span><\/td>\n<\/tr>\n
S&P500<\/strong><\/span><\/td>\n3316.81<\/strong><\/span><\/td>\n+ 27.52<\/strong><\/span><\/td>\n0.84%<\/strong><\/span><\/td>\n<\/tr>\n
Nasdaq Comp<\/strong><\/span><\/td>\n9357.13<\/strong><\/span><\/td>\n+ 98.44<\/strong><\/span><\/td>\n1.06%<\/strong><\/span><\/td>\n<\/tr>\n
DJIA<\/strong><\/span><\/td>\n29297.64<\/strong><\/span><\/td>\n+ 267.42<\/strong><\/span><\/td>\n0.92%<\/strong><\/span><\/td>\n<\/tr>\n
S&P500 VIX<\/strong><\/span><\/td>\n12.32<\/strong><\/span><\/td>\n– 0.10<\/strong><\/span><\/td>\n– 0.81%<\/strong><\/span><\/td>\n<\/tr>\n
US 10-year yield<\/strong><\/span><\/td>\n1.81<\/strong><\/span><\/td>\n+ 0.02<\/strong><\/span><\/td>\n1.17%<\/strong><\/span><\/td>\n<\/tr>\n
USD Index<\/strong><\/span><\/td>\n97.04<\/strong><\/span><\/td>\n+ 0.08<\/strong><\/span><\/td>\n0.08%<\/strong><\/span><\/td>\n<\/tr>\n
FTSE100<\/strong><\/span><\/td>\n7609.81<\/strong><\/span><\/td>\n– 32.99<\/strong><\/span><\/td>\n– 0.43%<\/strong><\/span><\/td>\n<\/tr>\n
DAX30<\/strong><\/span><\/td>\n13429.43<\/strong><\/span><\/td>\n– 2.87<\/strong><\/span><\/td>\n– 0.02%<\/strong><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Greg Peel is still on holidays. In the meantime, Jessica Amir from Bell Direct is providing a snapshot of insights and developments from overseas markets overnight.<\/em><\/p>\n

By Jessica Amir, Bell Direct<\/p>\n

US equites closed at brand new record highs overnight on stronger than expected jobs data, on top of better than expected earnings from Morgan Stanley. Base metal commodities also had a strong night too, all which is why the Aussie share market futures are suggesting a 0.4%\/25 point rise at the open taking us further into brand new record skies. <\/span><\/span><\/p>\n

Yesterday the local bourse passed the 7,000 point milestone for the first time in history after the ASX200 rose 0.67%\/47 points to 7,042 points.<\/span><\/span><\/p>\n

Morgan Stanley’s shares jumped 7% in the session after it revealed all three of its divisions, investment management, wealth and trading all produced more revenue than expected. The big banks shares followed, moving higher. <\/span><\/span><\/p>\n

Morgan Stanley is the last of the six largest US banks to report and is one of four of the majors that beat analysts expectations, with Citigroup, J.P Morgan and Bank of America reporting earlier this week with profits beating expectations and surging bond trading results. <\/span><\/span><\/p>\n

Also overnight, Microsoft shares hit record levels and Google’s parent Alphabet's market cap hit $1 trillion for the first time. What a night hey?<\/span><\/span><\/p>\n

On Thursday the benchmark S&P500<\/span><\/span><\/strong> rose 0.8% breaking above 3,300 points for the first time, while Nasdaq<\/strong> advanced 1.1% and the blue-chip Dow Jones surged 0.9%\/267 points.<\/span><\/span><\/p>\n

Across the Atlantic Ocean <\/span><\/span><\/strong><\/p>\n

European<\/span><\/span><\/strong> stocks closed mostly higher with investor reacting to the partial trade deal being signed. The Stoxx<\/strong> 600 rose 0.2%, UK’s FTSE<\/strong> fell -0.4%, The French CAC<\/strong> rose 0.1% and the Germany DAX<\/strong> closed -0.01% lower. <\/span><\/span><\/p>\n

Gold<\/span><\/span><\/strong> slipped -0.05%\/US$0.90 to US$1,552 an ounce. <\/span><\/span><\/p>\n

Oil <\/span><\/span><\/strong>gained 1.1%\/<\/strong>US$0.60 to US$58.41 a barrel.<\/span><\/span><\/p>\n

Iron ore<\/span><\/span><\/strong> -0.25% lower at US$94.83 a tonne.<\/span><\/span><\/p>\n

Australian dollar <\/span><\/span><\/strong>slipped -0.12% to 68.99 US as traders weigh up our competitiveness in the wake of the US China trade deal. <\/span><\/span><\/p>\n

What else to watch today?<\/span><\/span><\/strong><\/p>\n

Yesterday the second largest company on the ASX, CSL cleared the $300 mark for the first time after Credit Suisse upped its price target to $320, as it expects 11% earnings growth this financial year and 22% next. Credit Suisse says although some consider its valuation is stretched as it's trading at a 90% premium to Australian industrial stocks, its “valuation is justified given CSL’s strong market leading position in a niche industry that has robust fundamentals”. <\/span><\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Spot Metals,Minerals & Energy Futures<\/strong><\/span><\/td>\n<\/tr>\n
Gold (oz)<\/strong><\/span><\/td>\n1553.30<\/strong><\/span><\/td>\n– 1.80<\/strong><\/span><\/td>\n– 0.12%<\/strong><\/span><\/td>\n<\/tr>\n
Silver (oz)<\/strong><\/span><\/td>\n17.92<\/strong><\/span><\/td>\n– 0.04<\/strong><\/span><\/td>\n– 0.22%<\/strong><\/span><\/td>\n<\/tr>\n
Copper (lb)<\/strong><\/span><\/td>\n2.83<\/strong><\/span><\/td>\n+ 0.02<\/strong><\/span><\/td>\n0.58%<\/strong><\/span><\/td>\n<\/tr>\n
Aluminium (lb)<\/strong><\/span><\/td>\n0.81<\/strong><\/span><\/td>\n+ 0.01<\/strong><\/span><\/td>\n0.87%<\/strong><\/span><\/td>\n<\/tr>\n
Lead (lb)<\/strong><\/span><\/td>\n0.90<\/strong><\/span><\/td>\n+ 0.02<\/strong><\/span><\/td>\n1.79%<\/strong><\/span><\/td>\n<\/tr>\n
Nickel (lb)<\/strong><\/span><\/td>\n6.21<\/strong><\/span><\/td>\n– 0.04<\/strong><\/span><\/td>\n– 0.71%<\/strong><\/span><\/td>\n<\/tr>\n
Zinc (lb)<\/strong><\/span><\/td>\n1.09<\/strong><\/span><\/td>\n+ 0.01<\/strong><\/span><\/td>\n0.65%<\/strong><\/span><\/td>\n<\/tr>\n
West Texas Crude <\/strong><\/span><\/td>\n58.52<\/strong><\/span><\/td>\n+ 0.71<\/strong><\/span><\/td>\n1.23%<\/strong><\/span><\/td>\n<\/tr>\n
Brent Crude<\/strong><\/span><\/td>\n64.62<\/strong><\/span><\/td>\n+ 0.62<\/strong><\/span><\/td>\n0.97%<\/strong><\/span><\/td>\n<\/tr>\n
Iron Ore (t) futures<\/strong><\/span><\/td>\n95.25<\/strong><\/span><\/td>\n– 0.05<\/strong><\/span><\/td>\n– 0.05%<\/strong><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
BROKER RECOMMENDATION CHANGES PAST THREE TRADING DAYS<\/span><\/td>\n<\/tr>\n
BPT<\/td>\nBEACH ENERGY<\/td>\nDowngrade to Hold from Accumulate<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
DHG<\/td>\nDOMAIN HOLDINGS<\/td>\nDowngrade to Sell from Neutral<\/td>\nUBS<\/td>\n<\/tr>\n
FMG<\/td>\nFORTESCUE<\/td>\nDowngrade to Hold from Buy<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
FXL<\/td>\nFLEXIGROUP<\/td>\nUpgrade to Buy from Neutral<\/td>\nUBS<\/td>\n<\/tr>\n
IGO<\/td>\nINDEPENDENCE GROUP<\/td>\nDowngrade to Lighten from Hold<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
IPL<\/td>\nINCITEC PIVOT<\/td>\nUpgrade to Equal-weight from Underweight<\/td>\nMorgan Stanley<\/td>\n<\/tr>\n
MOZ<\/td>\nMOSAIC BRANDS<\/td>\nDowngrade to Hold from Add<\/td>\nMorgans<\/td>\n<\/tr>\n
MTS<\/td>\nMETCASH<\/td>\nUpgrade to Neutral from Underperform<\/td>\nCredit Suisse<\/td>\n<\/tr>\n
NWL<\/td>\nNETWEALTH GROUP<\/td>\nUpgrade to Buy from Neutral<\/td>\nCiti<\/td>\n<\/tr>\n
OGC<\/td>\nOCEANAGOLD<\/td>\nUpgrade to Buy from Accumulate<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
ORE<\/td>\nOROCOBRE<\/td>\nDowngrade to Sell from Hold<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
PDL<\/td>\nPENDAL GROUP<\/td>\nDowngrade to Hold from Add<\/td>\nMorgans<\/td>\n<\/tr>\n
QBE<\/td>\nQBE INSURANCE<\/td>\nUpgrade to Outperform from Neutral<\/td>\nCredit Suisse<\/td>\n<\/tr>\n
SBM<\/td>\nST BARBARA<\/td>\nUpgrade to Buy from Accumulate<\/td>\nOrd Minnett<\/td>\n<\/tr>\n
STO<\/td>\nSANTOS<\/td>\nDowngrade to Hold from Add<\/td>\nMorgans<\/td>\n<\/tr>\n
SUL<\/td>\nSUPER RETAIL<\/td>\nDowngrade to Hold from Accumulate<\/td>\nOrd Minnett<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

For more detail go to FNArena's Australian Broker Call Report<\/a>, which is updated each morning, Mon-Fri.<\/p>\n

All overnight and intraday prices, average prices, currency conversions and charts for stock indices, currencies, commodities, bonds, VIX and more available on the FNArena website.  Click here<\/a>. (Subscribers can access prices on the website.)<\/em><\/p>\n

(Readers should note that all commentary, observations, names and calculations are provided for informative and educational purposes only. Investors should always consult with their licensed investment advisor first, before making any decisions. All views expressed are the author's and not by association FNArena's – see disclaimer on the website)<\/strong><\/em><\/p>\n

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FNArena is proud about its track record and past achievements: Ten Years On<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

More all-time records were broken on Wall Street last night with Alphabet’s (Google) market cap rising above US$1trn (Available for non-subscribers after 10am)<\/p>\n","protected":false},"author":3,"featured_media":84411,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[84],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/84403"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=84403"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/84403\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media\/84411"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=84403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=84403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=84403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}