1. US Stock Market:
“Stocks rose slightly on Friday afternoon as investors parsed through a mixed employment report, a U.S. airstrike in Syria and comments from a top Federal Reserve official. The Dow Jones industrial average traded about 60 points higher, with Wal-Mart and Boeing contributing the most gains. The S&P 500 traded about 0.2 percent higher, with industrials leading advancers. The Nasdaq composite also gained about 0.2 percent.”
“U.S. stocks advanced Friday after an early session of switching between small gains and losses, as investors weighed a weaker-than-expected March employment data and President Donald Trump’s late Thursday airstrike against Syria. The Dow Jones Industrial Average DJIA, +0.22% was trading up 57 points, or 0.3%, at 20,720, with Wal-Mart Stores Inc. WMT, +2.02% and defense contractor Boeing Co. BA, +0.84% leading gainers.”
“The stock market opened lower Friday after the release of disappointing jobs data and the U.S. launching missile strikes on a Syrian air base late Thursday. The Dow fell 17 points to 20,645 points and the S&P 500 lost 2 points to begin the day at 2,355 points. The Nasdaq declined 6 points to start the last trading day of the week at 5,872.”
2. US Bond Market:
“U.S. government debt prices were higher on Friday as investors digested the decision of President Donald Trump to launch strikes against a Syrian airfield and a soft jobs report. The U.S. economy added 98,000 jobs last month, well below the expected gain of 180,000. The unemployment rate fell to 4.5 percent. The yield on the benchmark 10-year Treasury note was lower at around 2.29 percent, while the yield on the 30-year Treasury bond was also lower at 2.94 percent. The 10-year yield briefly hit its lowest level since late November. Yields move inversely to prices.”
“Yields on the 10-year U.S. Treasury fell Friday to their lowest point since November, moving opposite of prices as investors fled riskier assets to haven investments in the wake of U.S. airstrikes on a Syrian airbase. Yields for 10-year notes TMUBMUSD10Y, -1.07% moved down to 2.322% from 2.341% late Thursday. Yields fell as low as 2.289% on Friday, the lowest since November, in the wake of reports about the U.S. airstrikes in Syria.”
“The U.S. bond market’s gauges on investors’ inflation expectations rose on Friday as U.S. employers added more workers than forecast in February but that news was muted by a surprise fall in wages. The five-year TIPS breakeven rate last traded at 1.40 percent, up 3 basis points from late on Thursday and hovering at its highest level since late July, according to Tradeweb. The 10-year TIPS breakeven rate was up 2 basis points at 1.56 percent, holding near its highest in seven weeks.”
3. FX Markets:
“The U.S. dollar dropped against its major rivals in the European session on Friday, as data showed that the U.S. job growth slowed sharply in March, casting uncertainty over the Fed rate outlook. The greenback declined to 1.2451 against the pound, following an 8-day rise to 1.2412 at 6:30 am ET. The greenback is likely to find support around the 1.26 region.”
“The pound has dropped against the euro, as Mark Carney confirmed the Bank of England has demanded financial firms share Brexit plans. Sterling was down about 0.3 per cent against Europe’s currency to 1.1683, and also dipped agains the US dollar to 1.242.”
“The greenback was trading lower against its most major rivals in the Asian session, as the U.S. military attack on an airbase in Syria fueled concerns of an escalation in the Syrian civil war. Extending early slide, the greenback fell to near a 5-month low of 110.09 against yen. On the downside, 108.00 is possibly seen as the next support level for the greenback-yen pair.”
“Oil prices surged more than 2 per cent to a one-month high on Friday after the United States launched dozens of cruise missiles at an airbase in Syria, later dropping back as there seemed no immediate threat to supplies. US president Donald Trump said he had ordered missile strikes against a Syrian airfield from which a deadly chemical weapons attack was launched earlier this week, declaring he acted in America’s “national security interest” against Syrian president Bashar al-Assad.”
“Gold prices are solidly higher and hit a five-month high in early U.S. trading Friday. Safe-haven demand for the yellow metal is seen following U.S. missile strikes against Syria. Also, a very downbeat U.S. jobs report is supporting the precious metals markets. June Comex goldd was last up $19.00 an ounce at $1,272.50. May Comex silverr was last up $0.199 at $18.44 an ounce.”
5. Market Movers:
Shares of Domino’s Pizza, Inc. (NYSE:DPZ) fell more than 5 percent Friday after a report warned first-quarter sales would be weak for the pizza chain. According to StreetAccount, a report by M Science said the company’s domestic sales growth would be “well below the rough consensus estimate.” Domino’s, one of the strongest restaurant chains, posted same-store sales growth well above its rivals in the last quarter. It had the highest domestic same-store sales growth of the top 25 U.S. restaurant chains, with same-store sales up 12.2 percent in the fourth quarter.
On Friday, United States Steel Corporation (NYSE:X)‘s stock is trading 1.34% higher at $33.35 with a total trading volume of 6.55 million shares. The 52-week range of the stock is $12.77 to $41.83. Shares of the Company are trading below their 50-day moving average by -7.68%. The stock has a Relative Strength Index (RSI) of 43.34. United States Steel Corporation’s consensus price target is around $38.46 a share. The stock’s price-to-book ratio is 2.50. In the last five years, the company’s full-year sales growth remained over -12.40% a year on average and the company’s earnings per share moved down by an average rate of -50.10%.
Investors are on alert as Akorn, Inc. (NASDAQ:AKRX)’s stock is experiencing unusual volume during today’s trading. While the stock price moved along with the volume change, shares are touching $26.87. The day’s total volume of 4339617 this morning is in contrast from the three-month daily average of 1802.31K. 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. A significant increase in trading volume means that more than double the average amount of stocks are moving.
The stock of Codexis, Inc. (NASDAQ:CDXS) is a huge mover today! About 902,740 shares traded or 747.52% up from the average. Codexis, Inc. (NASDAQ:CDXS) has risen 9.11% since August 31, 2016 and is uptrending. It has outperformed by 0.52% the S&P500.The move comes after 6 months negative chart setup for the $171.06 million company. It was reported on Apr, 7 by Barchart.com. We have $3.82 PT which if reached, will make NASDAQ:CDXS worth $13.68M less.
Shares of AECOM (NYSE:ACM) are experiencing unusual volume during today’s trading. While the stock price moved along with the volume change, shares are touching $33.28 at the time of writing. The day’s total volume of 2138108 this morning is in contrast from the three-month daily average of 1084.36K. When we divide the current volume by the three-month average volume, we get a relative volume of 3.48. AECOM (NYSE:ACM)‘s market cap, the total dollar value of all of their outstanding shares, is 5459.08m. Including today’s unusual volume, AECOM‘s stock is performing at -2.67% on the year. For the week, the stock is performing -0.65%. Over the past month the firm’s stock is -1.17%, -5.80% for the last quarter, 19.72% for the past six-months and 20.99% for the last year.
The stock of Pandora Media Inc (NYSE:P) is a huge mover today! About 3.77 million shares traded. Pandora Media Inc (NYSE:P) has declined 14.43% since August 31, 2016 and is downtrending. It has underperformed by 23.02% the S&P500.The move comes after 6 months negative chart setup for the $2.65 billion company. It was reported on Apr, 7 by Barchart.com. We have $11.08 PT which if reached, will make NYSE:P worth $79.50M less.
The stock of Mobil’nye Telesistemy PAO (ADR) (NYSE:MBT) is a huge mover today! About 905,258 shares traded. Mobil’nye Telesistemy PAO (ADR) (NYSE:MBT) has risen 32.97% since August 26, 2016 and is uptrending. It has outperformed by 24.22% the S&P500.The move comes after 5 months positive chart setup for the $9.83 billion company. It was reported on Apr, 4 by Barchart.com. We have $11.79 PT which if reached, will make NYSE:MBT worth $589.80 million more.
Carnival Corp. (NYSE:CCL) slipped 0.46% to $58.82 in midday trading on April 7, after disclosing an increased dividend to $0.40 per share, in addition to the board’s approval of the re-authorization of up to $1 billion in share repurchases. The share repurchase program covers Carnival Corp. (NYSE:CCL) common stock and Carnival plc ordinary shares, the company said in a press release. The program has allowed the company to repurchase over 56 million shares valued at $2.7 billion since late 2015. Meanwhile, the board approved a May 26, 2017 record date for the quarterly dividend with a payment date of June 16, 2017.
Apple Inc. (NASDAQ:AAPL) is trending today after Brian White of Drexel Hamilton commented that he believes the company’s most expensive version of the iPhone 8 will likely be delayed. The analyst said to CNBC, ‘First off, our smartphone contact believes the 3-D sensing technology and OLED displays will only be offered with the 5.8-inch iPhone 8. However, our contact strongly believes the 5.8-inch iPhone will be delayed by several weeks due to challenges around the 3-D sensing technology but still in time for the December holidays’. White’s views coincide with an earlier DigiTimes report that also speculated on potential delays due in part to technical issues concerning curved OLED panels and 3D sensors.
Twilio Inc. (NYSE:TWLO) rose in intraday trading by 4.96% to $28.26 on April 7, after JP Morgan Securities upgraded the stock to “overweight” from “neutral” with a $36 per share price target. In a report by CNBC, JP Morgan analyst Mark Murphy said Twilio has seen one of the highest growths among other tech giants in its industry after growing to over 70% in the last 12 quarters. Murphy turned the spotlight on Twilio this time, believing not many investors now the traffic it is getting, especially having clients such as Uber, WhatsApp and Airbnb.
Diana Shipping Inc. (NYSE:DSX) shares are displaying elevated levels of volatility in today’s session. After a recent check, shares have been spotted at $5.90 showing a change in the session of 11.81%.Based on data provided from analysts, Diana Shipping Inc. has a current consensus target price of 2.83. The current consensus analyst recommendation is sitting at 3.50 on company shares. Investors will likely be tracking any consensus estimate changes heading into the next earnings period.
Cleantech Solutions International Inc (NASDAQ:CLNT) traded at a yearly high level of $7.32 during the last trading session. The last session’s volume of 4.77 million shares was lower than its average volume of 53,543.00 shares. The stock, after opening at $2.95, closed at $6.72 by scoring 129.35%. The total market capitalization remained at $8.91 million. The stock showed weekly upbeat performance of 118.18%, which was maintained for the month at 833.33%. Likewise, the positive performance for the quarter was recorded as 846.48% and for the year was 450.82%, while the YTD performance remained at 918.18%.
The stock of Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) is a huge mover today! About 2.44M shares traded. Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) has risen 239.69% since August 31, 2016 and is uptrending. It has outperformed by 231.10% the S&P500.The move comes after 5 months positive chart setup for the $517.01 million company. It was reported on Apr, 7 by Barchart.com. We have $7.52 PT which if reached, will make NASDAQ:AUPH worth $46.53M more.
Investors are sharpening their focus on shares of MannKind Corporation (NASDAQ:MNKD). The stock saw a move of 13.49% during the latest trading session. The stock price has recently touched $1.43 which has caused investors to take a second look at company shares. With the stock currently trading under the $10 price level, investors may be wondering if the stock is a bargain at the current price. Here we’ll take a quick glance at how the stock price is currently trading in relation to some of its simple moving averages. At current levels, MannKind Corporation (NASDAQ:MNKD) shares have been seen trading -19.84% away from the 20-day moving average.
Cypress Semiconductor (NASDAQ:CY) stock shot up almost 25% in the first three months of 2017, thanks mostly to a strong fourth-quarter report and terrific guidance. What’s more, the semiconductor specialist’s product development moves to target the Internet of Things (IoT) and connected cars seem to be inspiring confidence among investors, pushing Cypress to 52-week highs.
STRATA Skin Sciences Inc (NASDAQ:SSKN)’s shares may have a significant upside to the consensus target of 1.75, but how has it been performing relative to the market? The stock’s price is 3.73 and their relative strength index (RSI) stands at 95.91. RSI is a technical oscillator that shows price strength by comparing upward and downward movements. It indicates oversold and overbought price levels for a stock. STRATA Skin Sciences Inc (NASDAQ:SSKN) shares are moving 606.42% trading at $3.73 today.
Catalyst Biosciences Inc (NASDAQ:CBIO) shares are among today’s biggest losers, falling 24.9% in morning trade after the company announced the pricing of its $18 million underwritten public offering. Specifically, Catalyst Biosciences Inc (NASDAQ:CBIO)’s offering includes Class A units, with each unit consisting of one common stock share and a five year warrant to purchase one half of a common share with an exercise price of $5.5 per share. The class A unit is priced at $5 per unit. The offering also includes Class B units, which is priced at $1000 per unit with each unit comprised of one share of preferred stock, which is convertible into 200 shares of common stock for Catalyst Biosciences, and a warrant to purchase 100 shares of common stock, also with an exercise price of $5.50 per share. (Insider Monkey)
Twitter Inc. (NYSE:TWTR) opened the markets in red on April 7, after filing suit against the government who is pushing the social media platform to reveal the identity behind an anonymous account which have been critical against the Trump administration. twitter is currently trading at $14.35, or a decline of 0.24%. Twitter Inc. (NYSE:TWTR) decided to sue and protect the digital privacy of the people or peoples behind the @ALT_USCIS handle, which according to government claims, is the work of at least one federal immigration employee. Following Trump’s vow to build a wall as part of his campaign against illegal immigrants, “alt” accounts have spread, taking on the names and images of government agencies and calling out the campaign, Reuters reported. (Insider Monkey)
Barrick Gold Corp (USA) (NYSE:ABX) shares have rallied over 2% this morning after gold futures moved higher due to the recent Syrian news, where the U.S. launched 59 cruise misses at a Syrian airfield in retaliation for Assad’s horrible chemical attack on civilians and children. Given that Russia supports Assad, some traders wonder if the missile retaliation could presage a rift between the two great powers. If that happens, geopolitical uncertainty would increase and gold might be more in demand. Separately, some investors note that U.S. inflation is already around the ideal 2% range, and the U.S. infrastructure package hasn’t passed yet. If inflation increases substantially over the coming decade, some market participants would turn to physical assets such as gold as a safe haven. (Insider Monkey)
Alibaba Group Holding Ltd (NYSE:BABA) is in the spotlight today after Aaron Kessler of Raymond James reiterated his ‘Strong Buy’ and $138 price target after meeting with Alibaba’s investor relations head. The analyst is bullish in part due to his expectation of continued robust e-commerce growth coupled with continued strong cloud sales growth. Given Alibaba’s reasonable forward P/E ratio of 25.28 and its wide moat, the analyst also likes Alibaba’s valuation. Separately, many traders are paying attention to Alibaba due to today’s Trump-Xi meeting. President Trump has been famous for his protectionist policies on the campaign trail and shares of Chinese related stocks could take a hit if Trump follows through. (Insider Monkey)
C&J Energy Services Inc (NYSEMKT:CJ) disclosed that it priced a public offering of seven million shares at a price of $32.5. This is at a discount price compared to the Thursday’s closing price. Following the public offering, the stock is trading down sharply on Friday. (Stock Market Daily)
6. Interesting Reads
“When Nvidia launched the GTX 1080 Ti at the end of February, it short-circuited its own highest-end product, the 6-month old Nvidia Titan X, thanks to higher clocks and a much lower price tag ($700, compared with $1,200). Now, Nvidia is rectifying that issue with a full-fat GP102 part — the Titan Xp. The Titan Xp sports 3840 cores, 240 texture units, and 96 ROPS, compared with the 1080 Ti’s 3584:224:88 configuration. We don’t know the card’s base clock yet, but Nvidia’s press release claims 3840 CUDA cores running at 1.6GHz. It’s not clear if that refers to the base clock — if so, the Titan Xp would be clocked significantly higher than any other GP102 on the market today.”
“YouTube has come up with a new restriction on who can make advertising money off of the online video platform. The company announced in a blog post that starting today it will not serve ads on videos produced by channels with fewer than 10,000 total views. That means any new creators looking to be in the YouTube Partner Program will have to wait until they accrue 10,000 total views on videos on their channel before they can start showing ads and collecting revenue.”
“This list of 10 most successful online businesses of 2016 will be different from other lists you can find online, only because we looked in other direction. When we think of successful online businesses first things that come to one’s mind are Google, Facebook, Yahoo, etc. but there are so many more successful business stories. When we say that this list will be different from other lists it means we will focus on businesses that sold out their products almost immediately after posting them online. Instead of looking who earned more money, we will arrange this list by the number of Instagram followers just so we can have a clear pattern.”
“More than 42 percent of Americans between the ages of 18 and 59 are infected with genital human papillomavirus, according to the first survey to look at the prevalence of the virus in the adult population. The report, published on Thursday by the National Center for Health Statistics, found that certain high-risk strains of the virus infected 25.1 percent of men and 20.4 percent of women. These strains account for approximately 31,000 cases of cancer each year, other studies have shown. Two vaccines are effective in preventing sexually transmitted HPV infection, and researchers said the new data lend urgency to the drive to have adolescents vaccinated.”
“Astronomers have discovered an Earth-like planet just 219 light-years away which could be a major step forward in the search for alien life. This newly discovered world is only slightly larger than Earth and orbits a low-temperature star called M5V that’s one-fifth the diameter of our Sun. Astronomers say this planet, which is a close relative of Venus, will be a prime candidate for looking for life in the next generation of space missions.”