- Midway through earnings season, National Grid plc & Take-Two Interactive Software Inc are in line to report next
- Signature Bank was the biggest decliner yesterday after giving up 10.8%
- FTSE rises to 7,754.62 (up 0.31%).
Ahead of Monday's session: leading equity indices in the US declined as Nasdaq slipped 0.35% and closed at 12,300. S&P 500 closed at 4,124, a 0.16% change.
Trading in the US will continue Monday in around 2 days time, meanwhile European markets closed higher yesterday whilst FTSE is up by 0.31%, hitting 7,754.62. Asia-Pacific markets ended a mixed session yesterday whilst Nikkei goes up by 0.9%, reaching 29,400.
Sun Life Financial Inc. & Aurora Cannabis Inc. have released their earnings reports with National Grid plc & Take-Two Interactive Software Inc are set to publish their respective reports as scheduled.
Market's down-tick coincides with some negative macro data published earlier as United States Producer Price Index fell short of the 0.3% projections, with new data of 0.2%. Highly important Initial Jobless Claims data from United States beat analyst expectations of 245,000 with a reading of 264,000.
While price action maintains a negative bias, United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 216,600, while the previous figure was 214,800.
While markets are generally down so far today, some assets outperformed such as First Solar gained 26.48% to reach $231.69. Icahn Enterprises (up 11.85%) is also performing well.
Yesterday's bearishness meant that Signature Bank lost 10.8% yesterday before closing at 11.5 cents.
First Solar rallied to $232 for the first time in 14 years
After having closed Thursday at $183.19, the US solar panel manufacturer rallied above $232 yesterday, for the first time in 14 years — gaining $48.5 — and closed at $231.69. Yesterday's gains added to First Solar's bullish trend that has lasted for 7 days so far, during which it increased a total of $11.6. Daily trading volume (23.85 million shares) was higher than the current multiday average of 3.43 million.
The volume of trade was 4.12 million shares, close to the daily average of 4 million shares. Icahn Enterprises disclosed a quarterly dividend of $two per share on Wednesday, February 22nd that was paid on Wednesday, April 19th to all shareholders of record up until Monday, March 13th. Based on current prices, the company's decision thereby provides Icahn Enterprises investors with an annual dividend yield of 22.6%.