Yahoo Starts To Deliver

Published by Filipe R. Costa on Tue, 23/10/2012 - 10:59
yahoo

Daily Market Commentary for October 23: New CEO Marissa Mayer starts to deliver! Yahoo has beaten all earnings forecasts and presented decent results. It seems the internet company is finally on trails again.

The day was really negative for equities that spent most of the session in the red but during the final hour stocks managed to recover and the Dow ended just flat.

Corporate earnings have been weak and worse than that are the downgrades companies are just making to their future expected revenues. As the European economy continues to struggle and the US is not recovering at a very healthy pace, companies see their future prospects worse than first thought. This situation triggered the sell off we have been experiencing during the prior days. Even though equities managed a late recovery during the US session, yesterday, they are just off those highs again and the Dow is pointing to 13,273 in spread betting rolling indices.

Gold, against the desires of Paulson, is on a downtrend. After failing to hit $1,800 a few days ago, gold has been in free-fall and currently trades at $1,714,70. I’m still bearish on the metal and expect it to satiate the bearish even more.

Name Last price Close Price % 5-Day % YTD %
EUR/GBP - £ per Euro 22/10/2012 0.8159 0.26 1.17 -2.08
FTSE 100 22/10/2012 5882.91 -0.22 1.33 5.57
EUR/USD - US$ per Euro 22/10/2012 1.307 0.35 0.79 0.9
Nikkei 225 22/10/2012 9010.75 0.09 5.04 6.57
Dow Jones Industrial Average 22/10/2012 13345.9 0.02 -0.58 9.24
S&P 500 22/10/2012 1433.81 0.04 -0.44 14.01
DAX (Xetra) 22/10/2012 7328.05 -0.71 0.92 24.24
Gold (LBM) $ 22/10/2012 172520 -0.51 -0.55 10.1
GBP/USD - US $ per £ 22/10/2012 1.6023 0.11 -0.35 3.17
IBEX 35 22/10/2012 7877.1 -0.46 2.59 -8.05
CAC 40 22/10/2012 3483.25 -0.61 1.84 10.24
FTSE MIB 22/10/2012 15866.75 0.03 1.77 5.15
Nasdaq 100 Index 22/10/2012 2694.56 0.61 -1.65 18.3
Crude oil (Brent) Composite 22/10/2012 10868 -2.75 -3.06 1.18
Crude oil (Light Sweet) Composite 22/10/2012 8924 -1.4 -2.71 -9.86