TRIMBROKER (TRIMBROKER)
Markets  |  October 16, 2012 11:56:07

iPhone 5 larger than QE stimulus


Better results Citigroup, stronger than expected U.S. retail sales and sales promotions to Apple yesterday helped the U.S. stock market to grow. SP500 index strengthened by 0.81%. In profit marketing ended all segments of the index, but are most successful at the Finance sector and healthcare.

Citigroup, with excellent results

Financial sector vera gained support in the results of Citigroup. Flange at best or good results anticipated in such quantities as for Wells Fargo or JP Morgan, was a profit above consensus as well as a better income from trading for action growth of 5.5%. Growth stocks also helped the whole the Finance segment, which corrected Fridays decline.

Pharmaceuticals with strong growth

The second was the strongest segments of health service. There a helping hand by company Eli Lilly with an increase of 4.12%, which got a better rating from Leerink Swann and Abbott Labs that posted positive results, the second phase of testing drugs against hepatitis C.

Amazon.com wants even more to compete with Apple

The profits despite the downturn ended úvodnému even Apple (+0,80%). The company may be your problem is with the maps fairly quickly using the delete maps from the company TomTom. Gainerom was strong but Texas Instruments (+3,45%). According to the resources of the Amazon is planning to purchase the chips from the manufacturer of mobile communications divisions. This could mean that Amazon could also manufacture mobile phone, what would become our competitors for Apple, Google and Samsung. In Division tablet im our competitors certainly is.

iPhone 5 larger than QE stimulus

The leader of the market with consumer goods but remains at Apple. Launch of a new iPhone at the end of September was a strong incentive natoľko that proved to affect the retail Earnings and the results of the U.S.. Who waited Consensus Earnings growth of 0.8%, the result ended up with an increase of 1.1%. Electronics sales had increased by 4.5%, the highest accumulation since October 2011, when it was putting the iPhone 4S. This means that the performance of the new iPhone has a GDP much more positive effect than all stimulate through QE by the Fed.

Spanish will be very soft conditions

Against the background of začínajúcej výsledkovej season and still only very weak concerns about fiscal cliff in the U.S. market continues to omieľa a request for help Spain and Greek rescue. Request for help Madrid are not expected at the EU summit Thursday and Friday.JP Morgan analysts also offered an opinion on the development of a request for help. Expect that the Spanish application will come either at the end of this year or even early next year. The reasons are several: Spain has a financing plan for this year have been fulfilled on 90%, ahead of regional elections in Spain, the application is unlikely to save and also Germany is not yet in a time crunch to it that Spain pushed to the rescue. In the final analysis but to help avoid. Portugal and Greece show that the fulfillment of the conditions when the deficit is crossed out extremely hard. Accordingly finally Madrid for help requests. The question is still only conditions of the aid.

New data on the effectiveness of fiscal contraction, which last week posted a IMF shows that the cuts are not producing hard reviving an economy, but instead worsened recession. Consequently, it will also consider Berlin what conditions Rajoyovi predostrie.Well because they know that if the expenditures too harsh conditions, with an application to Spain will also help scruple, which will raise uncertainty and the market bring into another panic. Consequently, despite German warnings awaiting only a very lax conditions for Spain.

On the market today speak also about the possibility that Spain could ask the ESM only about a credit line, thus prisľúbenie loan which would be available if the country needed a source. Technically, but it is only intended that the ECB could intervene to begin Spanish dlhopisoch. Its activity would skresala revenues dlhopisoch and Spain would thus could finance up to three years with a much lower interest rate.

Greece may cut their debt is an old debt skúpením

Not so hard to Spanish conditions are reflected in expectations also help in softening Greece. It is said that the country gets an extension payment assistance and even that the bilateral loan by which land was given help, they could have a reduced interest rate and extended maturity. This is, of course, at the stage of arguing, since the landscape certainly will not accept such a change conditions. Loudest therefore speaks more about a different plan. Greek bond the Trade masívnym diskontom versus nominal value. It is therefore expected that the landscape could buy up those bonds from the market and then undo them. She would not pay for the coupon and also the well earned. They're talking about the possibility of debt reduction of up to 50 billion euros. Resources for the purchase of bonds could come by the ESM or even also from the proceeds of privatization. Window but this option is not infinite.In recent months seen strong growth in Greek bonds, since traders are beginning to reckon with the possibility to buy bonds. The team bonds as they grow on the price range also reduces the savings that can be obtained by such a step.

Greek bonds

View on today

Earnings season in the U.S. today continues results of Goldman Sachs Asset Manager State Street and defenzívneho sector companies from Coca-Cola and Johnson & Johnson. Earnings season should still continue in an excellent statistics. Significantly confound should mainly Goldman Sachs and due to excellent income from trading at JP Morrgan as well as Citigroup. Macroeconomic calendar today has offered mixed results IFO German investor sentiment.A look at the present situation was worse (10.0 vs. Expectation to 11.8), while the overall sentiment was better (-11.5 vs. Expectation to -14.9). Euro after these reports achieved a new high, but slowly falling down. The prospect of rescue Spain and Greece but for the euro represents the constant support. If the market is able to stabilize above 1.2990, we expect growth to 1.3070. Conversely, a possible decline in shares should limitovať decline of the euro to slide flax 1.2930. The overall outlook for the euro remains The growth.

Author: John Benaki | TRIM Broker, as | Trading on exchanges TRIM Broker


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iPhone 5 väčším stimulom než QE

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