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Here’s What Is Happening In Financial Markets Today?

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1. US Stock Market:

“Wall Street stocks on Monday were aiming to start the second quarter with tepid gains. Investors were set to take cues from a handful of economic indicators and Federal Reserve speakers later in the trading day. Dow Jones Industrial Average futures YMM7, +0.04% added 11 points to 20,614, while S&P 500 futures ESM7, +0.02% gained 0.3 points to 2,359.50. Nasdaq-100 futures NQM7, +0.10% rose 4.75 points to 5,443.25.”

(Market Watch)

 

“U.S. stock futures traded mostly flat in early pre-market trade. The manufacturing PMI for Match is schedule for release at 9:45 a.m. ET. The ISM manufacturing composite index for March will be released at 10:00 a.m. ET, while data on construction spending for February will be released at 10:00 a.m. ET. New York Federal Reserve Bank President William Dudley is set to speak in New York at 10:30 a.m. ET, while Richmond Federal Reserve Bank President Jeffrey Lacker will speak in Lexington, Virginia at 5:00 p.m. ET.”

(Benzinga)

“Markets are closely watching for the outcome of a summit between Trump and Chinese President Xi Jinping at Trump’s Mar-a-Lago estate in south Florida later this week. The two are expected to discuss various contentious issues including North Korea, trade and territorial disputes in the South China Sea during their talks on Thursday and Friday.”

(Newsday)

 

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2. US Bond Market:

“U.S. government debt prices were mixed on Monday as investors look ahead to fresh economic data. The yield on benchmark 10-year Treasury notes (U.S.:US10Y) was lower at around 2.387 percent, while the yield on the 5-year Treasury note was also lower at 1.913 percent. The 30-year bond rose slightly, with the yield at 3.022 percent. On the data front, Monday will see the release of the latest ISM manufacturing index reading at 10:00 ET. The index rose to 57.7 in February February and is expected to inch lower to 57.5 in March. Construction spending and vehicle sales data will also be released.”

(CNBC)

“After initial losses, US Treasures regained ground on Monday with the 10-year yield edging lower to 2.38% and there were also gains for European bonds. Despite expectations of a further gradual increase in short-term interest rates, the dip lower in bond yields curbed potential selling pressure on gold.”

(Economic Calendar)

 

3. FX Markets:

“On the currency front, the U.S. dollar is trading at 111.34 yen compared to the 111.39 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.0666 compared to last Friday’s $1.0652.”

(RTT News)

Dollar finds support: Ahead of the U.S open, the pound (£1.2508, down -0.37%) continues to experience volatility, as the pair has given back roughly half of last Friday’s gain, as selling has taken place following the release of U.K PMI data (54.4 from a revised 54.5 in Feb.) The reading for March was below consensus expectations of 54.6 and the lowest reading for four-months. The EUR (€1.0656) is little changed despite stable industrial prices in the region and a stronger unemployment print (+9.5% vs. +9.6%). The yen fell -0.1% to ¥111.47, while the AUD lost -0.3%. The KRW rose +0.3%, building on its more than +7% advance in the Q1.”

(Action Forex)

“The Pound has dropped by -0.4% against the Euro and US Dollar today, but still remains close to the best rates since late February and late March respectively.”

(Compare Currency)

 

4. Commodities:

“Crude oil futures are inching up $0.11 to $50.71 a barrel after rising $0.25 to $50.60 a barrel last Friday. Meanwhile, an ounce of gold is trading at $1,248.90, down $2.30 from the previous session’s close of $1,251.20. On Friday, gold rose $3.20.”

(RTT News)

“Gold prices have erased modest early losses to trade slightly higher in late-morning action Monday. Some weaker-than-expected U.S. economic data that was just released falls into the camp of the monetary policy doves, who want to see a slower pace of U.S. interest rate increases. U.S. Construction spending in February rose by only 0.8%, when a rise of up 1.2% was expected. Also, the March ISM manufacturing report showed a reading of 57.2 versus 57.7 in February. The data put some selling pressure on the U.S. dollar index, which is also favoring the precious metals market bulls. June gold futures were last up $1.60 an ounce at $1,252.70.”

(Kitco News)

5. Market Movers:

Polarityte Inc (NASDAQ:COOL) shares hit a new 52-week high on Monday after an insider bought additional shares in the company. The company traded as high as $17.18 and last traded at $17.34, with a volume of 1,100,251 shares traded. The stock had previously closed at $13.67. Specifically, Director Jeffrey Hansen Dyer bought 8,052 shares of the firm’s stock in a transaction dated Wednesday, March 29th. The stock was acquired at an average cost of $10.75 per share, for a total transaction of $86,559.00. Following the completion of the transaction, the director now owns 4,912 shares in the company, valued at $52,804. (Chaffey Breeze)

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Recent action on shares of Akari Therapeutics, PLC (NASDAQ:AKTX) lands the stock on today’s most volatile list. In the current trading session, the stock has seen a change of -13.20% recently hitting $9.61. Share prices are capable of moving sharply higher or lower in a very short amount of time. Keeping an eye on the volatile stocks may help spot market abnormalities. Analyst Views: Based on data provided from analysts polled by Thomson Reuters, Akari Therapeutics, Plc has a current consensus target price of 19.00. The current consensus analyst recommendation is sitting at 1.00 on company shares. (Aiken Advocate)

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The stock of Wix.Com Ltd (NASDAQ:WIX) gapped up by $0.45 today and has $77.39 target or 5.00% above today’s $73.70 share price. The 6 months technical chart setup indicates low risk for the $3.37 billion company. The gap was reported on Apr, 3 by Barchart.com. If the $77.39 price target is reached, the company will be worth $168.50 million more. About 2.21M shares traded or 331.99% up from the average. Wix.Com Ltd (NASDAQ:WIX) has risen 68.95% since August 25, 2016 and is uptrending. It has outperformed by 60.19% the S&P500. (Norman Observer)

The stock of Weatherford International Plc (NYSE:WFT) is a huge mover today! About 8.33M shares traded. Weatherford International Plc (NYSE:WFT) has risen 20.47% since August 25, 2016 and is uptrending. It has outperformed by 11.71% the S&P500.The move comes after 9 months negative chart setup for the $6.55B company. It was reported on Apr, 3 by Barchart.com. We have $6.11 PT which if reached, will make NYSE:WFT worth $262.00 million less. Analysts await Weatherford International Plc (NYSE:WFT) to report earnings on May, 3. They expect $-0.29 earnings per share, 0.00% or $0.00 from last year’s $-0.29 per share. After $-0.32 actual earnings per share reported by Weatherford International Plc for the previous quarter, Wall Street now forecasts -9.38% EPS growth. (Money Making Articles HotStuff)

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Acorda Therapeutics, Inc. (NASDAQ:ACOR) stock is experiencing unusual volume during today’s trading.  While the stock price moved along with the volume change, shares are touching $19.20.  The day’s total volume of 2151106 this morning is in contrast from the three-month daily average of 997.97K.  When we divide the current volume by the three-month average volume, we get a relative volume of 3.82. Acorda Therapeutics, Inc. (NASDAQ:ACOR)’s market cap, the total dollar value of all of their outstanding shares, is 981.96m.  Including today’s unusual volume, Acorda Therapeutics, Inc.‘s stock is performing at 11.70% on the year.  For the week, the stock is performing -17.32%.  (Melville Review)

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Investors are on alert as Lumber Liquidators Holdings, Inc. (NYSE:LL)’s stock is experiencing unusual volume during today’s trading.  While the stock price moved along with the volume change, shares are touching $22.47.  The day’s total volume of 2597290 this morning is in contrast from the three-month daily average of 731.35K.  Why is this important? Trading volume is a hugely important consideration for any investor.  By watching how many shares are trading hands and looking for any changes in that activity, trading opportunities can be spotted along with a deeper understanding of the reliability of other indicators on the stock.  (MelvilleReview)

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DryShips, Inc. (NASDAQ:DRYS) is currently trading with the volume of 39.87 Million. The Stock opened today’s session at $1.38 and currently the price is hovering at $1.35 by showing decrease of -18.18 percent. DryShips, Inc. has 1 year price target of $4200. DryShips, Inc. (NASDAQ:DRYS) topped its 52-week high price of $2227.2 on Apr 28, 2016 and 52-Week Low Price of $1.23 on Mar 20, 2017. The Stock currently has the market capitalization of $267.73 Million, P/E (price to earnings ttm) of 0 and Weekly volatility of 12.13% and monthly volatility of 15.67% respectively. (Top Chronicle)

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The stock of General Motors Company (NYSE:GM) is a huge mover today! About 16.81M shares traded or 4.15% up from the average. General Motors Company (NYSE:GM) has risen 12.11% since August 25, 2016 and is uptrending. It has outperformed by 3.35% the S&P500.The move comes after 7 months negative chart setup for the $50.80 billion company. It was reported on Apr, 3 by Barchart.com. We have $31.92 PT which if reached, will make NYSE:GM worth $3.05 billion less. (Money Making Articles HotStuff)

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On Monday, Southwestern Energy Company (NYSE:SWN)’s stock is trading -5.81% lower at $7.68 with a total trading volume of 7.70 million shares. The 52-week range of the stock is $8.18 to $15.59. Shares of the Company are trading below their 50-day moving average by -3.45%. The stock has a Relative Strength Index (RSI) of 52.30. Southwestern Energy Company’s consensus price target is around $11.50 a share. The stock’s price-to-book ratio is 4.37. In the last five years, the company’s full-year sales growth remained over -3.80% a year on average and the company’s earnings per share moved down by an average rate of -40.50%. (WallStreetNews24)

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The stock of Fiat Chrysler Automobiles NV (NYSE:FCAU) is a huge mover today! About 11.93 million shares traded or 76.22% up from the average. Fiat Chrysler Automobiles NV (NYSE:FCAU) has risen 57.95% since August 25, 2016 and is uptrending. It has outperformed by 49.19% the S&P500.The move comes after 9 months negative chart setup for the $16.70B company. It was reported on Apr, 3 by Barchart.com. We have $9.45 PT which if reached, will make NYSE:FCAU worth $1.50B less. (Huron Report)

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Advanced Micro Devices, Inc. (NASDAQ:AMD) is in the spotlight today due to Apple Inc. (NASDAQ:AAPL) announcing that it will drop the use of Imagination Technologies’ IP in 15-24 months. Instead of using Imagination’s services, Apple has implied that it might use its own in-house graphics technology. The news is relevant to AMD because some traders fear Apple could eventually do the same for GPUs in MACs and potentially cost AMD market share. With that being the case, Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are actually modestly in the green today as the market apparently isn’t too concerned about the possibility.  (Insider Monkey)

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Panera Bread Co (NASDAQ:PNRA) shares have popped 10% in the afternoon after Bloomberg reported that the company is working with advisers to explore strategic options after receiving takeover interest from a suitor. The strategic options include a potential sale. Traders are piling into Panera Bread Co (NASDAQ:PNRA) in anticipation that the take-over price might be high enough to justify the current rally. There is no guarantee, however, that a sale will occur as of yet. Shares of the restaurant have done very well year-to-date, rallying 27% even before today’s surge. (Insider Monkey)

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Novocure Ltd (NASDAQ:NVCR) shares skyrocketed nearly 50 percent on Monday after the company revealed positive survival data for the phase II pilot trial of its noninvasive treatments in patients with pancreatic cancer. The therapy was given along with two chemotherapy drugs. An analyst at JMP Securities, Michael King reaffirmed his ‘’Market Outperform’’ rating for NovoCure stock following the results. (TheRiponAdvance)

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The stock of Syneron Medical Ltd. (NASDAQ:ELOS) is a huge mover today! About 7.09 million shares traded or 1534.80% up from the average. Syneron Medical Ltd. (NASDAQ:ELOS) has risen 62.31% since August 25, 2016 and is uptrending. It has outperformed by 53.55% the S&P500.The move comes after 6 months positive chart setup for the $388.87M company. It was reported on Apr, 3 by Barchart.com. We have $12.15 PT which if reached, will make NASDAQ:ELOS worth $31.11M more. (Huron Report)

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Ford Motor Company (NYSE:F) shares are 2% in the red after the vehicle manufacturer reported its U.S. sales for the month of March. Specifically, the company’s domestic sales inched lower by 7.2% year-over-year to 236,250 vehicles. Of the aggregate amount, retail sales fell 2% to 157,740 units, while fleet sales fell 17% year-over-year to 78,510 vehicles sold. As a silver lining, the average pricing transaction did rise $1,800. Separately, Ford is in the spotlight due to the manufacturer recalling around 52,000 Ford-250s (model year 2017) for ‘unintended vehicle movement while in park’. So far, Ford believes no accidents or injuries have been associated with that issue. (Insider Monkey)

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Valeant Pharmaceuticals Intl Inc (NYSE:VRX) traded at a yearly high level of $38.50 during the last trading session. The last session’s volume of 8.96 million shares was lower than its average volume of 23.07 million shares. The stock, after opening at $11.07, closed at $11.03 by scoring -0.45%. The total market capitalization remained at $3.75 billion. Valeant Pharmaceuticals International, Inc.’s wholly owned partner, Bausch + Lomb, recently declared the launch of Bausch + Lomb ULTRA for Astigmatism contact lenses, an innovative monthly silicone hydrogel lens that combines MoistureSeal technology, which assists to maintain 95% of lens moisture for a full 16 hours2, and OpticAlign design, engineered for stability to promote a successful first fit1. (WallStreetNews24)

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Las Vegas Sands Corp. (NYSE:LVS) shares are in the green in the pre-market after the gaming bureau of Macau reported gross revenue for the month of March from games of fortune rising 18.1% year-over-year in the region. The total revenue of 21.2 billion patacas, or around $2.6 billion, beat analyst expectations of 12-16% growth, and marked the eight sequential month of gaming revenue increases. The rise in gaming revenues is in part due to new resorts opening. Needless to say, a more robust Macau gambling scene is good news for Las Vegas Sands, which derives a considerable amount of EBITDA from the region. (Insider Monkey)

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Cyclacel Pharmaceuticals Inc. (NASDAQ:CYCC) announced Monday morning that preclinical data of CYC065 showed that it substantially inhibited growth, triggered apoptosis, and induced anaphase catastrophe in murine and human lung cancer cells with known high metastatic potential. Cyclacel Pharmaceuticals gapped up at the open Monday and has spiked higher in the last 15 minutes on increased volume. Shares are now up 2.13 at $5.81. The stock has surged to over a 1-month high and has re-crossed its 50 and 200-day moving averages. (RTT News)

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Steadymed Ltd. (NASDAQ:STDY) shares rocketed today following Friday’s rally of almost 50%. The thinly traded biotech firm normally has around 19,650 shares traded on average but today by 10AM EST, over 3.5 million shares had traded hands. The catalyst for the increased volume and share price was a favorable ruling by the Patent Trial and Appeal Board (PTAB) of the United States Patent and Trademark Office (USPTO). (Stock News Union)

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