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What Is Going On In The Financial Markets Today?

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1. US Stock Market:

“U.S. stocks were slightly lower on Friday, dragged down by technology stocks as investors locked in gains of what is likely to be Wall Street’s strongest first-quarter performance in four years. A raft of strong economic data and the possibility of fiscal stimulus under President Donald Trump have driven U.S. equities to record highs since his election. The S&P is on track to gain 5.8 percent and the Dow 4.9 percent for the first quarter ending Friday, their biggest quarterly gains since 2013. The S&P technology index .SPLRCT, which has outperformed other sectors with a 12 percent gain during the quarter, was off 0.2 percent.”

(Reuters)

“U.S. equities slipped on Friday – the last day of the first quarter – as investors digested a slew of economic data. The Dow Jones industrial average fell about 35 points, with Goldman Sachs contributing the most losses. The S&P 500 slipped 0.1 percent, with financials lagging. The Nasdaq composite also fell 0.1 percent. Entering Friday’s session, the three major U.S. indexes were on track to post gains of at least 4.89 percent.”

(CNBC)

“U.S. stock index futures were lower Friday ahead of the release of a raft of U.S. data. The Dow futures down 0.16% at 07:30 ET. The DJI put on 0.33% overnight. The S&P 500 futures shed 0.23%. The tech-heavy Nasdaq 100 futures lost 0.14%. The dollarindex consolidated above the 100 mark as Fed members supported further rate hikes this year. Fed members Kashkari and Bullard due to speak later in the session. Oil lower ahead of Baker Hughes rig count. WTI holds above $50. Personal spending/incomeconsumer sentiment and core PCE on tap.”

(Investing.com)

 

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2. US Bond Market:

“Now the 10-year U.S. Treasury note is at 2.4 percent, having risen a full percentage point since last year, while the S&P 500’s dividend yield is at 1.9 percent, around where it has been stalled for some time. Rising bonds rates most heavily affect the so-called defensive sectors, such as consumer staples and utilities, which classically have sluggish share price appreciation but lush dividend yields.”

(CBS News)

“U.S. government bonds remained in a tight range Friday as traders weighed strong inflation data against indications that the Federal Reserve will still take a cautious approach to raising interest rates. In recent trading, the yield on the benchmark 10-year Treasury note was 2.411%, according to Tradeweb, compared with 2.418% Thursday.”

 (The Wall Street Journal)

“Technically, we expect the US 10-yr yield to trade in the 2.3%-2.64% range. Moves towards the lower bound could be used to offload bonds or position for higher rates. Longer term, we maintain our scenario of 4 rate hikes in 2017 and higher long term yields.”

(FX Street)

 

3. FX Markets:

“The U.S. dollar dipped against its chief rivals on Friday, with losses against the Japanese yen and the euro, but a broad measure of the buck was on track to log its first weekly advance since early March. Against the yen, USDJPY, -0.20% the dollar slipped 0.3% to ¥111.63, compared with ¥111.91 late Thursday in New York. The euro, meanwhile, firmed a touch, snapping what had been back-to-back losses in reaction to reports this week that some European Central Bank policy makers oppose changing the central bank’s policy outlook. The euroEURUSD, +0.0187% was up 0.1% at $1.0690, compared with $1.0677 late Thursday in New York. The common currency hit a two-week low midweek. Elsewhere in Europe, the pound GBPUSD, -0.0080% fell 0.1% to $1.2452, compared with $1.2470 late Thursday in New York.”

(Market Watch)

“The dollar moved lower against other major currencies on Friday, after the release of disappointing U.S. personal spending data, although overall optimism over the strength of the economy still lent support. EUR/USD was steady at 1.0685, off the previous session’s two-week low of 1.0669. In the euro zone, Eurostat earlier reported that the consumer price index rose 1.5% in March, below expectations for an increase of 1.8% and following a final reading of a 2.0% advance in the prior month. Elsewhere, GBP/USD edged up 0.11% to 1.2482. The U.K. Office for National Statistics earlier said its final reading of fourth quarter gross domestic product was an increase of 0.7%, in line with expectations and a previous estimate.”

(Investing.com)

“The dollar index (DXY00 +0.10%) is up +0.15% at a 2-week high. EUR/USD (^EURUSD) is up +0.08%. USD/JPY (^USDJPY) is down -0.06%. Jun 10-year T-note prices (ZNM17 +0.01%) are up +1 tick.”

(Inside Futures)

“The U.S. dollar declined against its Canadian counterpart on Friday, after the release of strong economic growth data from Canada and as last month’s reading of U.S. personal spending disappointed market expectations. USD/CAD hit 1.3291 during early U.S. trade, the session low; the pair subsequently consolidated at 1.3302, declining 0.31%. The pair was likely to find support at 1.3262, the low of March 21 and resistance at 1.3401, Wednesday’s high.”

(Investing.com)

 

4. Commodities:

 

“Gold and silver prices are weaker in early U.S. trading Friday. More profit-taking from the shorter-term futures traders is featured to end the week. A solid rebound in the U.S. dollar index this week is also a bearish element for the precious metals markets. April Comex gold was last down $3.20 an ounce at $1,241.80. May Comex silver was last down $0.071 at $18.135 an ounce.”

(Forbes)

“Crude oil prices drifted lower in early Friday trading as markets relax following two consecutive days of gains ahead of a key meeting of OPEC ministers. Signs of easing supply-side pressures this week pulled the price of West Texas Intermediate crude oil back above the psychological threshold of $50 per barrel, after lingering in the upper $40 range for most of the latter half of March.”

 (UPI.com)

 

5. Market Movers:

 

Following trading activity for Akari Therapeutics, Plc (NASDAQ:AKTX), we can see that the stock has moved onto today’s list of most actives. From the opening price, the stock has seen a change of 16.20% recently clocking in with a price of $10.69. Checking some other stock price data, we can see that the recent distance from the 50 day high was noted at 21.48% and the separation from the 50 day low is presently 71.86%. Looking out over the past year, company shares have been recorded -33.06% off the 52 week high and 71.86% away from the low over the same period. (Melville Review)

 

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The stock of Sorl Auto Parts, Inc. (NASDAQ:SORL) gapped up by $0.42 today and has $3.87 target or 5.00% above today’s $3.69 share price. The 9 months technical chart setup indicates low risk for the $75.15 million company. The gap was reported on Mar, 31 by Barchart.com. If the $3.87 price target is reached, the company will be worth $3.76M more. About 2.31M shares traded or 3431.79% up from the average. Sorl Auto Parts, Inc. (NASDAQ:SORL) has risen 50.93% since August 24, 2016 and is uptrending. It has outperformed by 42.07% the S&P500. (MoneyMakingArticles)

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Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) Intraday Trading: The counter witnessed a trading volume of 0.41 million shares versus an average volume of 1.68 million shares during last trading session. Its last month’s stock price volatility remained 5.42% which for the week approaches 7.31. The lowest price the stock reached on 3/30/2017 was $1.53 and compares with the $0.82 52-week low. The stock recovered 91.16% since its low point and has performed 55.45% year-to-date. (Post Analyst)

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Investors are on alert as Cytosorbents Corporation (NASDAQ:CTSO)’s stock is experiencing unusual volume during today’s trading.  While the stock price moved along with the volume change, shares are touching $4.55.  The day’s total volume of 1481138 this morning is in contrast from the three-month daily average of 57.44K.  Cytosorbents Corporation (NASDAQ:CTSO)‘s market cap, the total dollar value of all of their outstanding shares, is 138.43m.  Including today’s unusual volume, Cytosorbents Corporation‘s stock is performing at 0.00% on the year.  For the week, the stock is performing 0.93%.  Over the past month the firm’s stock is -4.39%, -0.91% for the last quarter, -11.67% for the past six-months and 39.03% for the last year. (Melville Review)

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DarioHealth Corp (NASDAQ:DRIOstock price distance from twenty day simple moving average slumped at -2.28% while its distance from fifty day simple moving average raised 1.76% along with 4.87% above distance from two hundred simple moving averages. On technical aspect, moving averages may help to distinguish path of dispositions, and they may also be used to set degrees of support and resistance. Tracking the stock price in relation to moving averages as well as highs and lows for the year might assist with evaluating future stock performance. DarioHealth Corp. (DRIO) stock price tumbled -2.26% to finalize at $3.90 throughout previous buying and selling session. A total of 0.13 million shares exchanged at hands and its average trading volume is standing at 0.04 million shares. (WS News 4 Investors)

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Acorda Therapeutics Inc (NASDAQ:ACOR) lost an important legal challenge Friday to patents protecting its multiple sclerosis drug Ampyra. The news sent the stock plunging. A District Court judge found four Acorda patents on Ampyra were invalid due to obviousness. The ruling clears the way for an earlier-than-expected competition from generic versions of Acorda’s drug, which is prescribed to multiple sclerosis patients to improve their walking ability. Ampyra sales were $493 million in 2016, or 95% of the Acorda’s total revenue. (The Street)

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Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) traded up 3.9139% on Friday, reaching $14.5999. 30,851,673 shares of the company were exchanged. The company’s market capitalization is $13.73 billion. The company’s 50-day moving average is $13.78 and its 200-day moving average is $10.04. Advanced Micro Devices, Inc. has a 52 week low of $2.60 and a 52 week high of $15.55. Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, January 31st. The semiconductor manufacturer reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The firm earned $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. (TheCerbatGem)

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The stock of Fang Holdings Ltd (NYSE:SFUN) is a huge mover today! About 2.01 million shares traded. Fang Holdings Ltd (NYSE:SFUN) has declined 42.42% since August 24, 2016 and is downtrending. It has underperformed by 51.28% the S&P500.The move comes after 5 months positive chart setup for the $1.41 billion company. It was reported on Mar, 31 by Barchart.com. We have $3.19 PT which if reached, will make NYSE:SFUN worth $56.40M more. (Huron Report)

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Pulse Biosciences Inc (NASDAQ:PLSEstock price tumbled -17.40% to finalize at $27.02 throughout previous buying and selling session. A total of 0.69 million shares exchanged at hands and its average trading volume is standing at 0.22 million shares. Important factors to focus when evaluating a stock’s present and future value are the 52 week price high and low levels. Shares of Pulse Biosciences, Inc. (PLSE) are trading -24.80% downward from the 52-week high mark and 570.47% above from the fifty two-week low mark. Taking a glance at past performance, we will examine different up or down moving trends about PLSE. The stock added 4.36% beyond one week and climbed 98.68% during previous one month session. (WS News 4 Investors)

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Cara Therapeutics Inc. (NASDAQ:CARA) watched its shares slide as the week came to a close after the company reported that it had priced its secondary offering. The company has priced its 4.45 million shares of common stock at $18 per share, with an overallotment option for an additional 667,500 shares. At this price the entire offering is valued up to $92.12 million. The underwriters for this offering are Piper Jaffray, Stifel, Canaccord Genuity, Needham, Janney Montgomery Scott and H.C. Wainwright. (24/7 Wall St.)

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BlackBerry Ltd (NASDAQ:BBRY)
reported better-than-expected adjusted earnings for the sixth straight quarter, as the smartphone pioneer’s shift to the higher-margin software business paid off, sending shares soaring more than 15 percent. The Canadian firm also said on Friday it expects to be profitable on an adjusted basis for the second year in a row, and generate positive free cash flow in the year ending February 2018. Waterloo, Ontario-based BlackBerry has focused on building a robust software business after scrapping production of its once-iconic smartphones, which lost favor with the arrival of sleek and fully-touchscreen handsets. (Reuters)

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FMC Corporation (NYSE:FMC) has reached the top gainers list today as the stock has jumped -1.13% from the open, touching $70.20 on a recent bid. The year-to-date performance of the stock is 9.03%. The monthly stock performance comes in at 4.13%. For the quarter, shares are performing at 8.83%. Weekly performance analysis shows the equity at 0.19%.Covering Sell-Side analysts have offered recommendations and price target estimates on FMC Corporation (NYSE:FMC). According to First Call, the current consensus target price on shares is sitting at $62.75. Analysts have also given a consensus recommendation on the stock of 2.60. This number lands on a scale from 1 to 5. A rating of 4 or 5 would indicate a Sell. A rating of 1 or 2 would represent a Buy, and a 3 rating would signify a Hold on the stock. (Aiken Advocate)

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The stock of TRC Companies, Inc. (NYSE:TRR) is a huge mover today! About 2.23 million shares traded or 5470.68% up from the average. TRC Companies, Inc. (NYSE:TRR) has risen 92.12% since August 24, 2016 and is uptrending. It has outperformed by 83.27% the S&P500.The move comes after 5 months positive chart setup for the $553.59 million company. It was reported on Mar, 31 by Barchart.com. We have $18.77 PT which if reached, will make NYSE:TRR worth $44.29 million more. Since November 9, 2016, it had 0 buys, and 6 sales for $916,068 activity. Dodd Martin H also sold $31,712 worth of TRC Companies, Inc. (NYSE:TRR) shares. The insider Mayer James sold 19,564 shares worth $189,771. (MoneyMakingArticles)

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Intel Corporation (NASDAQ:INTC) is in the spotlight today after Srini Pajjuri of Macquarie initiated an ‘Outperform’ rating and set a $40 target on the semi-conductor giant. Although he isn’t knock-out impressed by Intel’s Mobileye purchase timing and the semi-conductor’s overall capex spending, the analyst thinks Intel shares can go higher due to strength from the server segment, specifically from the 14nm cycle and the Purley product. Pajjuri also isn’t too concerned about competition from AMD at the moment. Although Intel’s stock hasn’t taken off like AMD or NVIDIA shares have, the company is still one of the best bets in the industry in terms of safety and competitive advantages. With the company’s data-center/server segment poised for more growth ahead, Wall Street is optimistic on the venerable company. (Insider Monkey)

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Verizon Communications Inc. (NYSE:VZ) is in the spotlight today courtesy of a Bloomberg article. According to the column, the telecommunications giant has been working to secure streaming rights from various TV network owners in preparation for launching its own online TV service potentially this summer. The online TV package will likely include dozens of channels and would be independent of Verizon’s FiOS offering. Although most Americans still get their daily dose of TV through actual televisions, data shows that 2 million consumers are subscribed to TV delivered through the net, and that number could grow as cord cutting becomes more common and more viable options hit the market. For Verizon Communications Inc. (NYSE:VZ), the company’s online TV product could be an opportunity/hedge against the secular decline of cable. (Insider Monkey)

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