Esteemed market commentator, David Buik of Panmure Gordon joined Tip TV today to discuss Greece, Europe, the US, and US stocks in particular.
Greece crisis far from over, just taking a breather
Buik began by noting briefly that the Greece situation is far from over, despite the appearance of calm in the market. He noted that while the banks are open again and there is a semblance of relative normality returning again, that time has been bought and the situation will doubtlessly flair up again.
Goldman Sachs call sits uneasy
When pressed by Zak Mir, technical analyst about Goldman Sachs recommendation to sell US stocks and buy Europe/Japan over the next 3 months, Buik was hesitant, adding “Japan is an underwritten market” and that he has concerns over the financials of some of the domestically focused DAX and CAC constituents. Nevertheless he still sees the DAX as a buy, as it is a sentiment indicator.
Apple set to smash expectations?
Looking to the US, Buik notes that Apple numbers are coming out today and that the market is expecting 47m iphones to have been sold, $49 bln revenue, with 29% of sales taking place in China and sales to have increased by 32%. As such shares are up 40% and Buik thinks CEO Tim Cook deserves enormous credit. However, the strength in the US dollar could be a sour point for US earnings as companies with overseas sales could see profits hit when repatriated.
Don’t expect anything more than a symbolic rate rise
Looking to the US, Buik warns George Osborne not to get too cocky after a sustained period of good economic news, and that he doesn’t expect anything more than a symbolic rate raise, if that.
We are not authorised by the Financial Conduct Authority of England and Wales. The information and/or data on this website is provided by us and any data providers which may be used by us for your general information and use only and is not intended for trading purposes or to address your particular financial or other requirements. In particular, the information and/or data on the website:
(1) does not constitute any form of advice (financial, investment, tax, medical, legal, spread -betting or otherwise); and (2) does not constitute any inducement, invitation or recommendation relating to any of the products listed or referred to; and (3) is not intended to be relied upon by you in making (or refraining to make) any specific investment, placing any bet or making any other decision; and (4) has not been issued or approved by Tip TV for the purposes of section 21 of the Financial Services and Markets Act 2000 (as amended from time to time).
Opinions expressed by speakers in the videos, writers of the blogs are only opinions and not expert advice. These opinions do not necessarily agree with those held by Tip TV, its directors, agents or employees who disclaim any intent to make betting, securities or securities markets recommendations. The value of investments and the income derived from them may fall as well as rise. APPROPRIATE EXPERT INDEPENDENT ADVICE SHOULD BE OBTAINED BEFORE MAKING ANY INVESTMENT, PLACING ANY BET OR MAKING ANY OTHER DECISIONS.
Recommended Content
Editors’ Picks
EUR/USD stays near 1.0800 after upbeat US data
EUR/USD stays under modest bearish pressure and trades near 1.0800 in the American session on Thursday. The data from the US showed that the real GDP growth for the fourth quarter got revised higher to 3.4% from 3.2%, supporting the USD and weighing on the pair.
GBP/USD stays in daily range above 1.2600
GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth helps the USD stay resilient against its rivals and limits the pair's upside.
Gold pulls away from daily highs, holds above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays above 4.2% after upbeat US data and makes it difficult for XAU/USD to preserve its bullish momentum.
XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC
XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase.
Portfolio rebalancing and reflation trades emerge into Q2
Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.