Tag Archives: Apple

Apple Buybacks Pay Most Ever; Walt Disney Earnings Higher Than Expected

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: U.S. Trade Balance @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

Wealth Gap Slowing U.S. Economic Growth

Economists argue that a rising wealth gap has complicated the U.S. and the widening gap between the wealthiest Americans and everyone else has made the economy more prone to boom-bust cycles while slowing the 5-year-old recovery from the recession. They believe that economic disparities appear to be reaching extremes which need to be watched because they’re damaging to growth. The rising concentration of income among the top 1 percent of earners has contributed to S&P cutting its growth estimates for the economy. In part, because of the disparity, it estimates that the economy will grow at a 2.5 percent annual pace in the next decade, down from a forecast five years ago of a 2.8 percent rate. S&P advises against using the tax code to try to narrow the gap and suggests that greater access to education would help ease wealth disparities. Heavy taxes meant to reduce inequality could remove incentives for people to work and cause businesses to hire fewer employees because of the costs involved. Income disparities can hurt growth since consumers tend to become more dependent on debt to continue spending, thereby worsening the boom-bust cycle or they curb their spending, and growth improves only modestly, as it has during the current recovery.

Gold Rises As Ukraine Tensions Hurt Equities

Gold nudged up slightly today and could benefit from market risk aversion as fears of increasing military action along the Ukraine border put global equities under pressure. Spot gold rose 0.2 percent to $1,289.80 an ounce after closing flat in the previous session. U.S. gold was up about $6 to $1,291.20. Geopolitical tensions in Ukraine and the Middle East have largely been responsible for gold’s 7 percent gain this year. Gold, often seen as alternative investment to riskier assets such as equities, could gain if stocks fall further. Bullion investors continued to keep an eye on economic data, after a Tuesday report showed new orders for U.S. factory goods rose more than expected in June. Recent U.S. data pointing to strengthening economic activity has weighed on gold’s appeal on fears that monetary policy could soon be tightened. The physical markets have failed to provide support to prices recently due to the seasonally quiet summer period.

Apple Buybacks Pay Most Ever; Walt Disney Earnings Higher Than Expected

With Apple’s repurchases staking a claim as the most profitable on record, buybacks remain one of America’s most popular antidotes to bears. The company is up 25 percent since it spent $18 billion on its own shares between January and March and rallied 32 percent after a $16 billion buyback in 2013. Those are the highest four-month returns among the 20 biggest quarterly repurchases by any company since 1998, according to data. Apple’s $18 billion repurchase in the first quarter and the $16 billion it spent between April and June of 2013 are the two biggest buybacks by any company in data compiled by S&P starting in 1998. They came as the stock advanced as much as 77 percent over 15 months after falling to a 16-month low in April 2013. The return followed the weakest period for Apple shares in the last decade. After jumping almost 900 percent from the end of 2005 through September 2012 and becoming the world’s largest company by market value, Apple plunged 44 percent in seven months amid concern about new products and competition.

Meanwhile, Walt Disney, the entertainment conglomerate posted earnings per share of $1.28, excluding items, on $12.47 billion in revenue, compared to an expected EPS of $1.17 on $12.16 billion in sales. Shares edged higher in after-hours trading.

That sums up today’s highlights! We hope you have a profitable day on the markets.

ECB: Market-Watchers Look to Draghi for Clarity

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: U.S. Non-Farm Payrolls @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

ECB: Market-Watchers Look to Draghi for Clarity

A month after the ECB president, Mario Draghi introduced a varying range of fixes for the euro area’s faltering recovery, market-watchers are in disagreement about how long interest rates will stay near zero and remain unclear on the details of plans to boost lending. Draghi may use today’s appearance in Frankfurt as an opportunity to clarify the situation. As the Federal Reserve and the Bank of England work their way out of crisis-era support for their economies, the ECB continues to steer against the risk of a relapse. Draghi’s guidance on how he expects rates to develop over the next two to four years, if he decides to give any, will be crucial in bolstering investors’ optimism that the worst is truly over, while reassuring them that protection won’t be removed before they’re ready.

The euro is currently trading below $1.37, roughly where it was when the ECB met on June 5 but down from over $1.39 before the ECB flagged the cut in May. The ECB is keeping a close eye on the euro to gauge its impact on already low inflation. Euro zone inflation stood at 0.5 percent in June, well below the ECB’s medium-term target of just under 2 percent. Should the outlook for inflation deteriorate, Mario Draghi has said that the ECB would consider quantitative easing to keep borrowing costs low and boost spending.

Asia Stocks Fall Along With Gold; Dollar Gains Before Data

Asian Stocks fell from a six-year high, while precious metals dropped as the U.S. dollar gained versus its major peers before today’s jobs reports and a euro-area monetary-policy decision. The MSCI Asia Pacific Index slipped 0.2 percent while Standard & Poor’s 500 Index futures lost 0.1 percent. The Aussie slid 0.7 percent, trading at 93.78 U.S., cents after Reserve Bank of Australia Governor Glenn Stevens said investors are underestimating the chance of currency losses. Oil in New York fell for a sixth day, its longest slump since May 2012. Australia’s currency also slid as the country’s central bank governor said it was overvalued. The Aussie is more than just a few cents overvalued and the risk of a significant fall is being underestimated according to Stevens.

The U.S. Non-Farm Payrolls report comes after yesterday’s ADP data showed U.S. employment rose in June by the most since 2012, with more workers hired than economists projected. The European Central Bank meets today after enacting unprecedented stimulus last month, while in Asia, data on services industries is due.

Watch For Google’s Streaming Music Service…

With its Songza deal, Google could end up dominating other streaming music services if it becomes the default option on Android mobile devices due to Android’s dominance among mobile devices and Songza’s ability to curate and recommend new music to its users. Android devices make up nearly 62 percent of the U.S. market for smartphones, according to research as of May 2014. With the Songza move, Google pitches itself against Spotify, Pandora and Rdio as well as Apple, which acquired Beats Music and its streaming service, and Amazon, which recently launched a streaming music service for its Prime customers. The deal could be a win for Google’s advertising business. Keep an eye on Google stocks…

That sums up today’s highlights. It’s Non-Farm Payrolls day today so a busy day on the markets. Don’t forget you can stay regularly updated on events by visiting our Facebook, Twitter, Google+ and LinkedIn pages.

We hope you have a profitable day on the markets!

Dollar Rises As This Week Could Be Crunch-Time For The ECB

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: EUR CPI Flash Estimate @ 09.00 GMT

WHAT WE’RE WATCHING TODAY

Dollar Rises As This Week Could Be Crunch-Time For The ECB

The dollar rose against the euro on Monday as disappointing German inflation data along with the expectation of very weak May inflation figures in the Eurozone, were the latest signs that the European Central Bank could be forced to ease monetary policy this week to fight low inflation. German inflation for May missed expectations, with the EU-harmonized annual reading falling to 0.6% from 1.1% in April. Separately, data showed the region’s manufacturing growth slowed by more in May than initially estimated. Market participants believe that the ECB cannot afford to do nothing this week, having intentionally raised hopes of further monetary easing so the expectation is that the ECB will go ahead and cut rates. The maximum impact from an ECB rate cut would come with a negative deposit rate and liquidity-boosting measures. The goals would be to cap EUR appreciation while reducing fragmentation and strengthening forward guidance. The euro EUR/USD fell to $1.3598 from $1.3635 on Friday. The euro has fallen since ECB President Mario Draghi hinted that easing could come in June. The ECB will issue a decision on Thursday, followed by a press conference by ECB President Mario Draghi. At the same time, the Federal Reserve is on track to finish its stimulative bond-buying program by year end, setting up for eventual rate hikes.

More Monetary Easing Could Be On The Way As Australian Economy Slows

Australia’s economy appears to be slowing and some economists argue that a more subdued outlook could lead to further monetary easing from the country’s central bank. Australia is due to report first quarter economic growth on Wednesday. While economists expect robust growth of 3.2 percent on-year, up from 2.8 percent in the previous quarter analysts expect the economy will take a turn for the worse in the second quarter with growth expected to slow to 0.4 percent on-quarter from 0.7-0.8 percent in the first quarter. This pull back may prompt the Reserve Bank of Australia to take a more dovish stance. Australia’s economy enjoyed 20 years of strong growth thanks to its mining boom, but lost some of its luster recently as the boom showed signs of peaking and growth in China, its largest trading partner, slowed. Furthermore, Australia’s conservative government delivered the country’s harshest budget in 20 years last month and many economists are concerned about the toll it will take on the economy. Business and investor confidence dropped following the budget, while red-hot housing prices eased, a factor that economists worry could dampen consumer spending. Financial conditions have tightened and consumer sentiment is at levels not seen since prior to the current rate easing cycle. The RBA left interest rates at a record low of 2.5 percent on Tuesday, for the ninth straight month.

Dow & S&P End At Record Highs

The Dow and the S&P 500 finished at record highs again yesterday after a reading on U.S. manufacturing was revised to show more strength than initially indicated. Industrials and material stocks were among the day’s biggest gainers, while the technology sector ended lower, weighed down by big names like Apple and Google. The Institute for Supply Management officially corrected its earlier report to show that the pace of growth in the U.S. manufacturing sector accelerated in May. Wall Street fell initially after the first report, with all 10 S&P 500 sector indexes down for the day at one point. The Dow Jones industrial average rose 26.46 points to 16,743.63 as the S&P 500 gained 1.40 points to 1,924.97. The Nasdaq Composite, however, dropped 5.42 points to 4,237.20. The Dow ended at a second consecutive record high while the S&P 500 closed at a third consecutive record though volume was still slight, suggesting a lack of conviction behind the advance.

That sums up today’s highlights! Don’t miss our regular updates on today’s tradable events via our Facebook, Twitter, Google+ and LinkedIn pages. We hope you have a profitable day on the markets.

What Will Apple Reveal This Week?

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: GB Manufacturing PMI @ 08.30 & U.S. ISM Manufacturing PMI @ 14.00 GMT

WHAT WE’RE WATCHING TODAY

What Will Apple Reveal This Week?

Apple’s Worldwide Developer Conference starts today amid speculation about what the company is planning to reveal. Rumours are that Apple’s lineup this year will be the best in 25 years. Although consumers will likely have to wait until later this year for big product announcements, industry experts say that the company may roll out some new features in its software at the conference. The focus is expected to be on two big themes; health and connecting the home. For Apple, it’s all about having all the devices connected and getting people even more locked into their ecosystem and adding value to devices that users already have. The company’s competitors, including Google, which recently bought the smart thermostat company Nest, are all making plays in this space and time is ticking for Apple to do the same. Presently, it is a fragmented experience and the plan is to start connecting things together which Apple will do by using the iPhone. Related to improving Apple’s home experience, the company may also implement voice-enabled Siri capabilities in Apple TV which would help the company compete with Amazon’s Fire TV. In addition, there are rumours of the next iPhone and iPad having larger screens and that the updated operating system will enable split-screen capabilities on the iPad. This would help it compete with the growing number of tablets flooding the enterprise space. A revealing week ahead for Apple watchers, traders will be watching the markets for movements in the price of Apple stocks.

ECB Expectations Pressure Euro

The euro came under pressure today as the market braced for further stimulus measures from the European Central Bank this week. Hopes for policy action at Thursday’s ECB policy review have been high since ECB president Mario Draghi said in Portugal last week that the central bank must be prepared to take action if risks surrounding persistently low inflation emerge. The ECB is thus preparing a package of policy options for its meeting that includes cuts in all its interest rates. In the markets, the focus is shifting to what the Governing Council could do to ‘surprise’ the markets, such as signaling that more aggressive unconventional quantitative easing measures could be forthcoming. Analysts point out that if the ECB does not surprise markets, there could be some cautious profit taking on the EUR, and add that risks for EUR could be on the downside over the medium term. The euro edged down slightly to $1.3627, and remained not far from a three-month low of $1.3586 touched on Thursday.

Gold Falls In Longest Losing Streak In 7 Months

Gold fell for a fifth straight session today in its longest losing streak since November, affected by stronger global equities and weak physical demand in Asia. Spot gold had eased 0.2 percent to $1,247.89 an ounce, not too far from a 4-month low of $1,241.99 hit on Friday. The five-day fall is the metal’s longest losing run since October/November when it dropped for seven straight days. The technical outlook for gold is not looking very good and there is a strong chance it will fall to $1,230 and possibly all the way $1,200. Physical markets haven’t reacted very much to last week’s drop but if prices fall to $1,200, there could be some action. Physical buying failed to pick up as consumers expect gold prices to fall even further. Other data also showed that hedge funds and money managers cut their bullish bets in gold futures and options in the latest week to their lowest level in nearly four months, another sign of waning investor interest in the metal amid higher equities. An early or quick gold turnaround is not expected as the market may not have bottomed yet.

That sums up today’s highlights! It’s a busy week on the market so ensure you’re up-to-date with all the latest news via our Facebook, Twitter, LinkedIn and Google+ pages. We hope you have a profitable day on the markets.

Dollar Pauses After Rally; Euro Close To 3-Month Low

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: U.S. Unemployment Claims @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

Dollar Pauses After Rally; Euro Close To 3-Month Low

The dollar hovered near a two-month high against a basket of major currencies today, taking a pause after rallying due to a shake-out of long positions in sterling and a drop in the euro. The dollar index eased 0.1 percent to 80.490, close to Wednesday’s high of 80.581, its highest level since early April. A break above 80.599, the April 4 peak, will take the index back to highs not seen since mid-February. Traders seemed to be at a loss to explain the greenback’s rise apart from pointing to month-end dollar demand. The euro edged up 0.1 percent to $1.3604, holding slightly above a three-month low of $1.3587 set on Wednesday. Expectations of some policy action from the European Central Bank (ECB) have been mounting, a key reason for the recent underperformance in the euro. Many economists expect the ECB to cut its deposit rate into negative territory next week.

Gold Is Sinking…Will It Get Worse?

Gold extended losses to a third straight session on Thursday, hitting 16-week lows on a stronger dollar and weak physical demand in top buyer China. The gold market continues to show more signs of weakness as the precious metal closed at $1,259.30 per ounce, down another $6.20 after Tuesday’s $25 slide. The fact that Wednesday’s drop takes bullion below its second critical support level of $1,262 is troubling some traders as technical pressure could continue to weigh on gold in the days ahead. Gold is seen as looking increasingly weak as geopolitical concerns over Russia and Ukraine subside and that the only motivation to buy gold might be an upward turn in inflation or a war, neither of which seem to be a reality at the moment. In the meantime, Wednesday’s stronger dollar offered no support. The question is being asked by many traders, therefore, is, where does gold go from here?

Apple To Acquire Beats Electronics

Apple has announced that it will acquire headphone maker Beats Electronics for $3 billion.The deal is expected to close in the fiscal fourth quarter. Apple will pay $2.6 billion in cash and another $400 million in equity. It will also continue to use the Beats brand. Beats Electronics is a key vendor in the premium headphone market. Apple reportedly began talks to buy the company in early May. Beats’ profit margins in the headphone market may be substantial. A pair of its high-end headphones sell for as much as $450, but production costs across the brand are said to run to only about $14 a pair. Apple said the deal would add to earnings in fiscal 2015. Beats also recently entered the streaming music business placing it in head-to-head competition with much larger veteran rivals Pandora and Spotify.

That sums up today’s highlights! Keep in touch with all the day’s events on our Facebook, Twitter, Google+ & LinkedIn pages. We hope you have a profitable day on the markets.

European Stocks Up On Supportive Fed & China Data

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: U.S. Unemployment Claims @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

European Stocks Up On Supportive Fed & China Data; Jobless Claims Data Awaited

European stocks were seen to be edging higher today, boosted by expectations that the Federal Reserve would continue to support the U.S. economy and by data showing an increase in Chinese factory activity. Britain’s FTSE 100 was expected to open 14 to 16 points higher, or as much as 0.2 percent and Germany’s DAX to open 32 to 33 points higher, or 0.3 percent. Global shares rose overnight after minutes of the U.S. Federal Reserve’s last meeting reassured investors that policy makers would stick to their easy monetary policy stance. While Fed staff presented several approaches to raising short-term interest rates, they said the discussion was simply prudent planning and not a sign rate hikes would come any time soon. The Fed is unlikely to spoil the recovery while inflation is low and underemployment is high. Sentiment on risk assets was further boosted by China’s factory sector which showed its best performance in five months in May, confounding some of the more bearish on the world’s second-biggest economy and top consumer of metals.

Meanwhile, U.S Unemployment Claims data is awaited today. Initial claims for U.S. unemployment benefits hit a seven-year low of 297,000 claims last week, confirming the strong recovery in the US economy. Claims fell 24,000 from the preceding week, indicating stronger economic growth in the second quarter. Stronger labour market and rising inflation pressures give the green light to the Fed’s ongoing tapering move. Jobless claims are expected to increase to 312,000.

UK Retail Sales Rise Much More Than Expected

British retail sales rose much more strongly than expected in April helped by robust food sales during the Easter holiday. Retail sales volumes jumped 1.3 percent on the month to show 6.9 percent growth on the year - its highest annual growth rate since May 2004. Economists had expected retail sales to rise 0.5 percent on the month and for sales to be up 5.2 percent compared with April last year. Sales for March were also revised up significantly. Britain’s consumers have been the main driver of the country’s economic recovery which began last year. A fall in inflation and signs of higher wages have helped restore some of the spending power lost in the years after the financial crisis. The turnaround in the housing market has also given home-owners more confidence to spend.

And The World’s Biggest Brand Is Now….

Google has leap-frogged over Apple to take the top spot in a global ranking measuring the value of the world’s biggest brands. Google saw a 40 percent year-on-year increase and is now worth to $159 billion making it top of the world’s most valuable global brands according to a recent report. Google has been hugely innovative in the last year with Google Glass, investments in artificial intelligence and a multitude of partnerships. Apple was knocked off the top spot after three years as the world’s number one, after its brand’s value fell 20 percent to $148 billion. A perception the Silicon Valley giant no longer redefines technology for its customers, as evidenced by a lack of new product launches, was behind the dip, according to the report. However, the fact Google and Apple took first and second place reflects technology brands’ growing dominance. The top four most valuable brands Google, Apple, IBM and Microsoft, all belonged to technology companies. The average technology brand is worth $45.9 billion, sitting way above the average brand value of £24.9 billion. The Top 100 have a combined value of $2.9 trillion and have increased by 49 percent since 2008. Their resurgence is a reflection of global growth which followed the end of the 2007 financial crisis.

That sums up today’s highlights! Remember to keep in touch with us via Facebook, Twitter, Google+ & Twitter for all the latest trading developments of the day.

We hope you have a profitable day on the markets.

U.S. Economy Back On Track

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets.

WHAT WE’RE WATCHING TODAY

U.S. Economy Back On Track As Strong Retail Spending Adds To Momentum

The U.S. economy is back on track after a difficult first quarter and it is not expected to cool off again anytime in the near future. A number of economic reports this week, spearheaded by sales at retail stores, are expected to show a faster pace of growth in April and May. Furthermore, trends point to the nation’s gross domestic product increasing in the second quarter after little growth in the first quarter of the year. Part of the snapback in growth reflects spending and investment that normally would have taken place in the first quarter had it not been for the severe weather. The prospect of the momentum extending beyond the second quarter is likely to rest mainly on whether companies continue to add workers. Job gains have averaged 238,000 a month since February which is the second best three-month stretch since the recession ended.

However, the recovery has been uneven since it began in mid-2009 and analysts are not ready to declare good times are here to stay after years of disappointing growth. The unexpected hiccup in the housing market is one of the biggest threats to the rosy scenario for the U.S. economy beyond the second quarter. Sluggish sales could dampen demand for a variety of goods that new owners need to buy for their homes and hurt retailers in the process. In April, economists predict that builders started work on more new homes and permits for new construction also rose. However, both permits and new construction are still likely to remain below the post-recession highs set in November and December.

CBI: U.K. Interest Rates Will Rise From Early-2015

Encouraging signs that the U.K. recovery is becoming more broad-based has led the Confederation of British Industry to raise its 2014 and 2015 growth estimates for the U.K. It now expects the U.K. economy to expand by 3 percent this year and by 2.7 percent in 2015, up from previous expectations of 2.6 percent and 2.5 percent respectively. Interest rates are expected to start rising in the first quarter of 2015. In the first quarter of this year, Britain posted GDP growth of 0.8 percent quarter-on-quarter, marking the fifth consecutive quarter of expansion.

However, as 2015′s general election looms, the CBI warned that political uncertainty could threaten the U.K.’s recovery and that the priority for the next government should be to keep the deficit reduction strategy on track, to tackle the U.K.’s economic challenges and to reform public services. The CBI also highlighted that business investment in the U.K. was on the rise. In the final quarter of 2013 it was 8.7 percent higher than the year before, and the trend is gaining momentum. It now expects business investments to grow by 8.3 percent this year and by 9.1 percent in 2015.

Is Beats Electronics Worth $3.2 Billion? Some Analysts Say Why Bother?

It was reported last week that Apple would be interested in acquiring Beats Electronics, the well-known headphone maker and music streaming distributor, for $3.2 billion founded by Dr. Dre. Although, at $3.2 billion this would be Apple’s largest acquisition to date, $3 billion is less than two percent of the company’s cash and less than ten percent of its annual free cash flow, in the overall scheme of things, it’s not a deal that is going to have a material impact on results. However, the change in Apple’s acquisition strategy will generate some questions for management and the Board of Directors. Some are struggling to see the rationale behind this move. Beats would undoubtedly bring a world class brand in music to Apple, but have pointed out that Apple already has a world class brand and has never acquired a brand for a brand’s sake. Beats does not have any intellectual property that would drive the acquisition justification beyond the brand. Instead, analysts believe that Apple’s cash should be utilised for acquisitions in the internet services space, which happens to be Apple’s biggest weakness. Traders will be watching the market for news…If Apple completes a $3.2 billion acquisition of Beats, Carlyle Group which owns just under 50% of Beats will bank a near $1 billion profit.

That sums up Monday’s highlights!

We hope you have a profitable day on the markets!

U.S. Unemployment Claims, Mario Draghi Speaks

Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:

Main Trading Event Of The Day: USD Unemployment Claims @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

Economic Data…U.S. Unemployment Claims, Mario Draghi Speaks

New jobless claims registered last week remained low at 304,000, near their pre-recession levels, following 302,000 posted in the previous week. Economists predict claims will climb to 315,000 in the week ended April 19 due in part to the Easter holidays where it is usual for claims to rise. Layoffs are reported to be trending lower and hiring is finally starting to gain momentum after being held back by severe weather earlier in the year, with recent jobless claims hitting their lowest levels in almost seven years.

ECB President Mario Draghi is also due to speak at a conference in Amsterdam today. He is expected to comment on the low inflation rate in the Eurozone. Market volatility is expected due to Draghi’s heavy handed approach on the euro.

Apple Earnings Drive Stocks

Apple impressed investors with a big earnings beat on Wednesday evening as well as another big stock buyback and a dividend hike. Shares jumped 7.8 percent in afterhours trading and are expected to boost sentiment on Wall Street. The stock shot up more than 8 percent in after-hours trading to $567.50. Apple Chief Executive, Tim Cook said the company chose to expand its stock-buyback program by $30 billion because it views its shares as undervalued. The company said it would boost the overall size of its capital return program to more than $130 billion by the end of 2015, up from its previous $100 billion plan. After more than a decade of remarkable earnings growth, the technology giant’s revenue and profit are flattening and the company is fighting the perception that its best days are behind it. Apple said net income was $10.22 billion in its fiscal second quarter ended March 29 versus $9.55 billion in the year-ago period. Revenue rose to $45.6 billion from $43.60 billion in the same period a year earlier. Apple’s earnings per share rose to $11.62 from $10.09, because the company’s stock repurchase program decreased the pool of total shares. Analysts, on average, estimated that Apple would post earnings of $10.18 per share on revenue of $43.53 billion.

European shares are also set for a higher open today on the back of Apple’s earnings. The FTSE is called up 18 points at 6,693, the German Dax is seen higher by 46 points at 9,590 and the French CAC is seen up 19 points at 4,470.

Gold Edges Up On Ukraine & U.S. Housing Data

Gold edged up today but held near a more than two-month low, dimming its appeal as an alternative investment. Bullion for immediate delivery rose as much as 0.3 percent to $1,287.08 an ounce, and traded at $1,287.06 at 11:40 a.m. Prices fell to $1,277.69 on April 22, the lowest level since Feb. 11. Gold has rallied 7.1 percent this year, rebounding from the worst annual drop in more than three decades as unrest in Ukraine, a rout in emerging markets and concern that the U.S. recovery may be losing momentum fueled demand. Investors are now waiting for the release of U.S. jobless claims and durable goods orders data for clues on the health of the world’s largest economy ahead of next week’s meeting of the Federal Reserve Open Market Committee on interest rates.

That sums up today’s highlights! You can find all the latest daily trading news and developments via our Facebook, Twitter, Google+ and LinkedIn pages. We hope you have a profitable day on the markets!

U.S. Stocks Gain After Data While Asian Stocks Rebound

Here’s Friday’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the markets:

Main Trading Event Of The Day: CAD Retail Sales m/m @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

U.S. Stocks Gain After Data While Asian Stocks Rebound From Biggest Decline In Seven Months

U.S. stocks rose for the third time this week as reports on leading indicators and regional manufacturing fuelled optimism in the economy, overshadowing concern, following Wednesday’s FOMC meeting, that interest rates may rise in the middle of next year. The Standard & Poor’s 500 Index gained 0.6 percent to 1,872.01 at 4 p.m. in New York. The Dow Jones Industrial Average added 108.88 points, or 0.7 percent, to 16,331.05. Both gauges erased most of yesterday’s declines. Asian stocks, meanwhile, rose with a regional index of shares outside Japan rebounding from the biggest loss yesterday since August. The MSCI Asia Pacific excluding Japan Index advanced 0.7 percent to 452.10, paring this week’s slide to 0.4 percent. The measure fell 1.7 percent yesterday, taking its loss this year to 4.1 percent as data from exports to industrial output showed signs of a slowdown in China and Federal Reserve Chair Janet Yellen indicated U.S. interest rates could rise as soon as six months after the end of the central bank’s bond-buying program. Analysts claim to be not overly cautious and that the focus will be directed back towards China on Monday.

European Markets Set For Lacklustre Open Following Banking Reform News

European markets are expected to have a subdued open after a busy week, as the market absorbs concerns about the Federal Reserve and banks. The FTSE was down 4 points to 6538, the Dax is seen steady at 9296 and the Cac up 1 point to 4328. On Thursday, the European Union finally agreed the terms to complete the region’s banking union. It was also a relatively quiet news day in the Ukraine crisis, with more sanctions announced, and a downgrade of Russia’s credit rating by Standard & Poor’s. In the U.K., data on public sector finances and UK banks external claims is expected at 9.30 GMT.

Time Is Of The Essence For Apple To Launch iWatch

Apple needs to launch an iWatch sooner rather than later, analysts say, or the company will risk losing its innovative edge to rivals. Apple also risks missing the huge opportunity that exists in the fast-growing wearable space if it doesn’t come out with something soon as there is no doubt that this sector is suddenly getting crowded. Pressure is coming from companies like FitBit and Jawbone who are making these devices and building an ecosystem around these wearables. There’s no shortage of speculation about what an iWatch will do, or when it will come out, but until Apple makes it official, the device is still completely hypothetical. Still, analysts who cover the company seem fairly certain that the company will debut a wearable product in 2014, particularly because wearables would be a natural fit for Apple’s ecosystem. The pressure is on for Apple and although it is not in the company’s style to rush things, they shouldn’t wait too long…

That sums up Friday’s highlights! Stay up-to-date with all the trading events and market news via our Facebook, Twitter, Google+ and LinkedIn pages! We hope you have a profitable day on the markets and wish you a great weekend!

Just A Minute!

Here’s Tuesday’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the markets:

Main Trading Events Of The Day: EUR German ZEW Economic Sentiment @ 10.00; USD Building Permits @ 12.30; USD Core CPI m/m @ 12.30 GMT

WHAT WE’RE WATCHING TODAY

U.S. Markets Look To German Stocks As German ZEW Economic Sentiment Awaited

Markets around the world have been becoming more jittery by the Russia/Ukraine crisis and the possibility of slowing economic growth in China. The situation is having a profound impact on U.S. markets with traders up and down Wall Street pointing to a renewed sense of risk aversion and questioning whether or not this is the beginning of that long-awaited correction for U.S. stocks. Slowing growth in China and worries about Russia’s tense relationship with Ukraine continue to fester but many traders have been paying even more attention to what’s happening in continental Europe for signs of what’s ahead for U.S. stocks. In particular, they are looking at Germany’s stock market which has relatively close economic ties to Russia. The two are trading partners, so weakness in Russia’s markets will reverberate through Germany’s markets to a certain degree. In turn, Germany is an important trading partner with the U.S. and there is a very high correlation between the value of the S&P 500 and Germany’s DAX stock index. In other words, the direction of both indexes seems to track each other fairly closely, hence many traders are also keeping a close eye market developments in Germany. While there has been selling pressure on U.S. stocks, some traders note that there isn’t a sense of panic selling. They also note that the current downside pressure isn’t a result of a massive flood of sell orders hitting the market. Rather, it’s been a lack of any real buy orders. With stocks near record highs, caution is still the prevailing sentiment. However, the trading relationship between German and American stocks is perhaps one reason why some traders are taking some profits just in case the global geopolitical or economic situation takes a turn for the worse.

The importance of the German market is once again highlighted in today’s German ZEW Economic Sentiment @ 10.00 GMT. Economic expectations in the euro zone declined in February by 5.4 points to 68.5. Analysts had expected a higher reading of 73.9. The decline in sentiment may attributed to concerns about U.S. economic recovery, and market volatility in emerging markets. Despite the relatively weak reading, ZEW President Clemens Fuest believes this decline in economic expectations is a temporary setback, since the majority of surveyed financial market experts remain optimistic. A further decline to 67.3 is expected.

Markets Eye Housing Data & FOMC For Market Buzz

Economic data and the Federal Reserve are expected to receive most of Wall Street’s attention this week with the big question being whether we are we looking at ongoing weather-related data, or if we are likely to see incremental improvement. Traders will of course be keeping their eyes on the Ukraine but it may come off the trader screen for the next few days, as we head to the FOMC on Wednesday. Reports scheduled for release include the consumer price index, typically scrutinised by analysts and investors for any sign of inflation, along with housing starts and building permits, all for February. The report, along with one on mortgage applications on Wednesday and existing home sales on Thursday, should give investors a clearer view on the health of the housing sector, an important piece of the U.S. economy. The expectations there a little stronger than they have been with the addition of 175,000 jobs in February and separately, a 0.3 percent rise in retail sales last month. The economic reports should begin to answer whether equity investors made the right call in writing off a large number of economic reports as being adversely affected by the weather. On Monday, stocks rallied, with the Dow rebounding from a five-day losing streak, as voting in Crimea passed without violence and after economic report had U.S. manufacturing output jumping the most in six months.

Apple Favorite Brand In Emerging Markets

Apple is the most desirable mobile-phone brand among inhabitants of emerging markets, according to a report. In a study conducted this year, Apple edged out Samsung Electronics, which was the leader in a separate survey last year. Samsung saw a slight decline in its share of developing-market consumers who favour its phones from 32 percent to 29 percent while Apple’s share jumped dramatically from 21 percent to where Samsung was last year. The brand halo for Apple is a good thing, but it won’t help the company overtake Samsung in sales, at least not immediately. Samsung Electronics is the world’s largest maker of smartphones partly because it makes low-margin, cheap handsets in addition to Galaxy products. The bright side for Apple is that the new emerging middle classes may switch to iPhones when they can afford them.

That sums up today’s highlights! Keep an eye on the markets today for important data releases via our Facebook, Twitter, Google+ and LinkedIn pages. We hope you have a profitable day on the markets!