|Bid||0.00 x 36200|
|Ask||0.00 x 2200|
|Day's Range||60.05 - 60.27|
|52 Week Range||52.81 - 64.72|
|PE Ratio (TTM)||159.07|
|Expense Ratio (net)||0.49%|
Global Markets Are Mixed, Oil Is Weak amid Supply ConcernsEconomic calendar 8:30 AM EST: US core durable goods orders (April) 9:15 AM EST: European Central Bank Coeure speaks 9:20 AM EST: Bank of England governor Carney speaks 9:20 AM EST: US Fed chair Powell speaks 10:00 AM EST: US Michigan Consumer Expectations (May) 10:00 AM EST: US Michigan Consumer Sentiment (May) 11:45 AM EST: US FOMC member Bostic speaks 11:45 AM EST: US FOMC member Kaplan speaks 1:00 PM EST: US Baker Hughes oil rig count 3:20 PM EST: German Bundesbank president Weidmann speaks
Global Markets Are Impacted by US Auto Tariff Threats on May 24Economic calendar 7:30 AM EST: ECB’s policy meeting summary 8:30 AM EST: US initial jobless claims 10:00 AM EST: US existing home sales (April) 10:30 AM EST: FOMC member Bostic speaks 1:00 PM EST: Bank of England governor Carney speaks 2:00 PM EST: FOMC member Harker speaks 7:30 PM EST: Japan’s Tokyo core consumer price index (May)
Global Markets: Increased Caution, Trump Brings UncertaintyEconomic calendar 9:45 AM EST: US manufacturing PMI (purchasing managers’ index) (May) 9:45 AM EST: US Markit composite PMI 9:45 AM EST: US services PMI (May) 10:00 AM EST: US new home sales (April) 10:30 AM EST: US crude oil inventories 2:00 PM EST: US FOMC meeting minutes 2:15 PM EST: FOMC member Kashkari speaks China
Last week, the Japanese yen (JYN) depreciated against the US dollar for the eighth consecutive week as the dollar continued its upward surge. It was the best run for the dollar against the yen since October 2014. The primary reason for the yen’s weakness is the widening spread between the US and Japanese treasuries, which is being driven by strong US economic performance compared to Japan.
Global Markets Are Mixed on May 22, Commodities Move HigherEconomic calendar 6:00 AM EST: UK CBI industrial trends orders (May) 10:00 AM EST: US Richmond Manufacturing Index (May) 10:00 AM EST: US Richmond Services Index (May) 4:30 PM EST: US API weekly crude oil stock 8:30 PM EST: Japan’s manufacturing purchasing managers’ index (May)
Global Risk Appetite Improved, Trade War Concerns EasedEconomic calendar 8:30 AM EST: US Chicago Fed National Activity (April) 12:15 PM EST: US FOMC member Bostic speaks 2:05 PM EST: US FOMC member Harker speaks 5:30 PM EST: US FOMC member Kashkari speaks
Global Markets Are Mixed, Firm Dollar Weighs on CommoditiesEconomic calendar 9:15 AM EST: FOMC member Brainard speaks 9:15 AM EST: FOMC member Kaplan speaks 1:00 PM EST: Baker Hughes’s oil rig count
Global Markets Are Mixed on May 16 amid Lower Risk AppetiteEconomic calendar 8:00 AM EST: European Central Bank President Draghi speaks 8:30 AM EST: US building permits (April) 8:30 AM EST: US FOMC member Bostic speaks 8:30 AM EST: US housing starts 9:15 AM EST: US industrial production (April) 10:30 AM EST: US crude oil inventories 10:30 AM EST: European Central Bank member Praet speaks 6:30 PM EST: US FOMC member Bullard speaks
According to a report provided by Markit Economics, the Japan Services PMI (Purchasing Managers’ Index) rose significantly in April compared to March. It was 52.5 in April and 50.9 in March. It beat the market expectation of 52.
In this series, we’ll be taking a look at these important developed market indicators released in the past week: US Services PMI (Purchasing Managers’ Index) UK Services PMI Eurozone Sentix Investor Confidence Index Germany (EWG) Services PMI France Services PMI Spain Services PMI Japan Services PMI Eurozone Services PMI Series overview
Global Markets Are Mixed amid Geopolitical Factors on May 15Economic calendar 8:30 AM EST: US core retail sales (April) 8:30 AM EST: U.S. NY Empire State Manufacturing Index (May) 8:30 AM EST: US retail sales (April) 10:00 AM EST: US business inventories (March) 1:00 PM EST: FOMC member Williams speaks 4:00 PM EST: US TIC net long-term transactions (March) 4:30 PM EST: US API weekly crude oil stock 7:50 PM EST: Japan’s GDP (Q1) 9:30 PM EST: China’s house prices (April)
The US Iran nuclear deal pullout failed to increase demand for haven bids such as the yen. The yen (FXY) closed last week at 109.39 against the US dollar (UUP), depreciating by 0.25%. A weak yen is positive for the export-dependent Japanese economy.
Japan’s manufacturing PMI witnessed improvement in April compared to March. It stood at 53.8 in April compared to 53.1 in March. This PMI figure met the preliminary market estimate of 53.3.
Global Markets Are Stable amid Improved Sentiment on May 14Economic calendar 6:00 AM EST: European Central Bank Mersch speaks 6:15 AM EST: European Central Bank Lautenschlaeger speaks 7:20 AM EST: OPEC’s monthly report 7:45 AM EST: European Central Bank Praet speaks 9:40 AM EST: US FOMC member Bullard speaks 11:00 AM EST: European Central Bank Lautenschlaeger speaks 1:45 PM EST: European Central Bank Coeure speaks 10:00 PM EST: China’s fixed asset investment (April) 10:00 PM EST: China’s industrial production (April) 10:00 PM EST: China’s retail sales (April)
In fiscal 2019, Electronic Arts (EA) expects GAAP (generally accepted accounting principles) net revenue of $5.6 billion, with costs of revenue of $1.6 billion and GAAP EPS (earnings per share) of $3.55. In 1Q19, EA expects GAAP net revenue of $1.1 billion, with costs of revenue of $226 million and GAAP EPS of $0.64.
The iShares MSCI Japan ETF (EWJ) , the largest Japan-related ETF on the market, has increased 2.4% over the past three months and is up 0.9% year-to-date. “We’re not as bullish as we should be,” Amir Anvarzadeh, a senior strategist at Asymmetric Advisors, told Bloomberg. Anvarzadeh warned that the Bank of Japan will reduce its monetary stimulus earlier than expected, which could impeded the rally in the country’s markets.
Global Markets Are Stable on May 10Economic calendar 7:00 AM EST: Bank of England’s inflation report 7:00 AM EST: United Kingdom’s interest rate decision (May) 8:30 AM EST: US core consumer price index (April) 8:30 AM EST: US initial jobless claims 2:00 PM EST: US federal budget balance
Last week, the Japanese yen (JYN) depreciated against the US dollar for a sixth consecutive week as the US dollar continued to rally. The US dollar rallied due to the Fed’s hawkishness and continued economic improvement. As Japanese markets were closed for three days last week, there was limited data reported from the Japanese economy. In the week ended May 4, the yen (FXY) closed at 109.1 against the US dollar (UUP), depreciating 0.06%. The yen’s (YCL) dream run seems to be done for now, and yen speculators have moved into bearish territory after staying net long for a little over four weeks.
Global Markets Await Trump's Decision on the Iran Nuclear DealEconomic calendar 10:30 AM EST: US JOLTs job openings (March) 2:00 PM EST: President Trump speaks 4:30 PM EST: US API weekly crude oil stock 7:01 PM EST: U.K. BRC Retail Sales Monitor
A version of this article appeared in the April 2018 issue of Morningstar ETFInvestor. Some investors gloss over the "exchange-traded" in "exchange-traded fund," failing to understand or appreciate those two words and the implications of investing in a fund that trades like a stock. The exchange-traded nature of these funds is increasingly taken for granted as many of the largest ETFs trade at tight spreads in very narrow bands around their net asset values through most market conditions.
Despite the rising rates and strengthening U.S. dollar, Americans are looking at international markets and related ETFs. Specifically, more investors are looking at developed markets like Europe and Japan. While the disparity between rising U.S. interest rates and negative rates out of the European Central Bank and Bank of Japan widens, traders are utilizing currency forwards to hedge out foreign-exchange risk, reports Mike Bird for the Wall Street Journal.
The Japanese yen (JYN) depreciated against the US dollar for a fifth consecutive week, as the US dollar continued to rally on the back of higher bond yields and the prospect of a faster rate hike pace from the US Fed. The Bank of Japan had its April meeting and left all policy rates unchanged, and the key takeaway was removing the target date to achieve the 2% inflation target. Japanese yen (YCL) speculators are moving back into short territory after staying net-long for four weeks. As per the latest “Commitment of Traders” (or COT) report, released on April 27 by the Chicago Futures Trading Commission (or CFTC), speculators on the Japanese yen had a net long position of 583 contracts, compared to 2,591 long contracts the week before.
Strong Global Markets and Weak Commodities on April 30Economic calendar 8:00 AM EST: Germany’s consumer price index (April) 8:30 AM EST: US core PCE price index (March) 8:30 AM EST: US personal spending (March) 10:00 AM EST: US pending home sales (March) 8:30 PM EST: Japan’s manufacturing PMI (purchasing managers’ index) (April)
The Conference Board CEO Confidence Survey is a quarterly report that collects responses from ~100 CEOs from different industries in the US. The data collected covers the CEOs’ attitudes and expectations for the economy and their respective industries. The industries represented by these CEOs include the manufacturing (IYJ) and services (VCR) industries.