Amazon Threatens Appliance Seller Stocks

Shares of Home Depot and Lowe’s were slammed Thursday, along with Whirlpool, after Amazon threatened to take on the appliance market in a much bigger way in a deal with Sears Holdings. Sears, which has been losing share in appliance for years, saw its stock rally as much as 25 percent. The market cap loss in Home Depot, Lowe’s, Whirlpool and Best Buy was about $12.5 billion by the end of the day, after falling to more than $13 billion. Amazon stock was up slightly, and Sears closed up about 10 percent.

source:CNBC News, Forbes

Asian equity markets were down across the board Friday, taking a breather from recent climbs and after the European Central Bank took a dovish stance on policy and its ongoing stimulus program. The Bank of Japan’s monetary policy statement and interest rate decision was expected to offer comment on the pace of asset buying at ¥80 trillion annually and possibly hint of tapering.

The euro held near two-year highs against the dollar on Friday, although ECB President Mario Draghi set no date for changes to the bond-buying plan, investors took his comments on Thursday as confirming their expectations that the discussions would lead to monetary tightening next year. European shares are expected to be flat to slightly lower, with spread betters looking at a flat opening in Britain’s FTSE (FTSE) and a 0.1 percent fall in Germany’s DAX.

Technical Analysis

EUR/USD

EUR/USD

The EURUSD is the asset to keep a vigil eye on today. The currency pair, trending steadily or you might say, treading waters since July 18th, was seen recording a rather impressive movement yesterday. The pair reportedly opening at 1.14859 at 12:00 GMT, recorded a phenomenal hike and between 13:00 GMT and 14:00 GMT, made it to as high as 1.16570 to close at 1.16341 at 14:59 GMT. After that, the pair was seen consolidating around similar levels through today. The pair, nevertheless, started recording an uptrend as from 03:00 GMT today and the trend might continue for a good part of today. A change in trends could emerge at 16:00 GMT though.

NASDAQ

NASDAQ

NA interesting trend is to be taken into consideration by the side of the Nasdaq composite index too. The index can be clearly seen recording an uptrend since July 17th. The index, nevertheless opened yesterday’s session on a bearish note and fell to 6366.0 between 13:30 and 14:30 and managed to get steady thereafter. The index might continue consolidating while the possibility of further going bearish is there too.

USD/JPY

USD/JPY

The japanese Yen also gave in the the dollar’s strength and so, the USDJPY pair was seen taking to a downtrend since 10:00 GMT yesterday. The pair thus fell to the 111.677 handle at 15:00 GMT from 112.348 at 10:00. Having consolidate a little through today, the pair was again seen taking to the lows. The downtrend can be expected to be repeated today.

Things to watch on the market

Tip 1

Consider trading the NASDAQ: AMZN stocks today as the latest announcement may cause the price of its shares to rise again today. It is advisable to use the Option Builder tool.

 

Tip 2

It is recommended to trade assets such as USDJPY, EUR/JPY and GBP/JPY today. The region’s smaller markets were mixed.

 

Tip 3

Trading the EURUSD and GBPUSD is advisable for the day. European shares are expected to be flat to slightly lower. Consider using the 60 Seconds tool