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ASX200 A.M Wrap 27 Apr 2018

Posted by Billy Macris on 27-Apr-2018 11:07:29

Strong gains in stocks overnight helped lift Wall Street higher after positive earnings releases and a drop in U.S. Treasury yields. We saw an array of major companies report overnight, especially in the tech sector with the likes of FB +9.1%, ADM +13.7% and QCOM +1.4% to name a few. However investors paid close attention to the yield on the treasury notes as the yield on the U.S. 10-year notes closed below the key 3.00% level to 2.9828% overnight as economic data release overnight reinstated the Fed’s view of gradual rate increases this year, U.S. durable goods orders rose 2.6% in March vs 1.6% expected increase. The European Central Bank kept rates unchanged at 0.00% following its meeting overnight.           

Comparison of S&P 500 and 10-year yield below

S&P500 vs 10 year yield                                                                                                                                                    
U.S Indices

  • Dow Jones +238.51 points or +0.99%
  • S&P 500 +27.54 points +1.04%
  • Nasdaq +114.94 points or +1.64%

S&P 500 Sectors

  • Technology +2.27%
  • Consumer Discretionary +1.60%
  • Telecommunications -3.24%

Last night saw earnings dominate as Chipotle Mexican Grill (CMG) shares soared higher by 24.4% on stronger than expected profits. Expedia (EXPE) shares also soared 10% after the bell along with Amazon Inc. higher by 6.0% after the online retailer reported a 43% surge in first-quarter revenue.

Stocks advancing

  • Chipotle Mexican Grill (CMG) +24.44%
  • Advanced Miro Devices (AMD) +14.50%
  • Facebook (FB) +9.06%

Stocks declining

  • American Airlines Group (AAL) -6.36%
  • AT&T (T) -5.97%
  • Ebay Inc. (EBAY) -5.59%

FOREX Majors

  • USDJPY 109.44
  • EURUSD 1.2173
  • AUDUSD 0.7576
  • USDCAD 1.2835
  • GBPUSD 1.3941

In our local market, the ASX200 is currently trading at 5,938.60 higher by 27.83 points or +0.47% with the Healthcare sector leading the way higher by +2.42%, whilst financials are lower by -0.45%.

Best Performing Stocks

  • Nanosonics Ltd (NAN) +6.19%
  • Domino’s Pizza (DMP) +3.49%
  • Nine Entertainment Holdings (NEC) +3.28%

Worst Performing Stocks

  • Qantas Airways Ltd -1.79%
  • Westpac (WBC) -1.17%
  • Lynas Corp (LYC) -1.16%

CMG daily chart attached 

cmg 1

Topics: ASX A.M Wrap