TGIF! We’re opening up a weekly Friday feature here, that would entertain you with some nerdy stuff that we create, share and enjoy.
This week it is a visualization of repository of one of our projects. Check this out:
Another week of worldwide volatility ends with the Dow dropping more than 300 points on Friday, with all major U.S. Indexes closing in the red. In fact, nearly every stock index closed lower than it did last week. Bank of America has proposed cutting approximately 40,000 jobs nationwide as part of a corporate restructuring plan aimed at steadying the ailing bank. More details are expected to be announced by CEO Brian Moynihan on Monday.
Gold posted losses on both Tuesday and Wednesday, as U.S. stocks briefly fared better. September contract gold had fallen to $1,814.20 earlier in the week. As concerns increased about the continued volatility in European nations, gold rebounded. The price of gold stands at $1,861.20 per troy ounce. Like individual investors, central banks across the globe have been bolstering their gold reserves recently. Copper prices declined this week, to a two-week low, amid lack of growth in the manufacturing and construction sectors. Crude Oil is selling at 87.01 per barrel.
In the U.S., consumer spending continues to strengthen, exceeding quarterly forecasts. Several major retailers
all reported higher profits. The leaders, Costco and The Limited, reported sales up 11%. This has had little impact on Costco’s stock price, which is unchanged. Target and department store chains Dillard’s and Macy’s also reported small profit increases. On Thursday, Sept. 15, the U.S. Department of Commerce will release the latest Consumer Price Index.
International Paper, the world’s largest producer of paper and forest products, has acquired rival Temple-Inland for a reported $3.7 billion. The acquisition has been in the works since the beginning of the year. International Paper had increased their offer by 5% after a failed attempt at a hostile takeover. Temple-Inland had been suffering lost profits due to the depressed housing market. Temple-Inland shares are up a whopping 25%, and International Paper shares gained 2%. International Paper will increase its market share in the lucrative corrugated cardboard packing sector by 10% thanks to the acquisition. (more…)
As many Americans were looking forward to starting the long Labor Day weekend in the United States, markets worldwide began sliding again on Friday.
HAPPY LABOR DAY
Ironically timed with Labor Day, the U.S. Department of Labor reported zero job growth for the first time in over 66 years. The last time the numbers came up empty was in the waning months of World War 2. Since no jobs were reported lost last week, the unemployment rate remained unchanged, at 9.1%. The lack of job growth prompted a wide-ranging sell-off before the close of the markets. Earlier in the week, U.S. Indexes had been up 2-3%. (more…)
The major U.S. Indexes all posted significant gains from the previous week’s close. Some Asian markets also advanced, but the Shanghai Composite and Hang Seng both closed with losses. European indexes still faltered, but were up from the previous week. The end of the week saw the stocks of certain luxury purveyors like Tiffany and Co. and Coach posting healthy gains. Even after dramatic losses and unpredictable volatility, history shows us that the market will usually right itself within a few weeks or months.
Warren Buffet delivered a much-needed vote of confidence in Bank of America by announcing that his company, Berkshire Hathaway, would make a 5 billion dollar investment in Bank of America in exchange for preferred shares paying a 6% per annum dividend for the next ten years. Buffet also received the option to purchase as many as 700 million shares in BofA at just over $7.00 per share until 2021. Bank of America has been working to raise capital in the face of falling stock prices and nervous investors. A slew of litigation prompted by the mortgage crisis has been dragging down the bank’s stability. (more…)
Break out the chocolate bars; it’s been another rough week for the markets. The major indexes on the NYSE all closed lower on Friday, and slipped further in after-hours trading. They were not alone. Markets all around the globe fell this week. It’s almost as though the week before last is repeating itself.
Trading started off strong on Monday, after a promising rally at the end of the previous week, thanks to news of mergers and acquisitions and hopes for a resolution to the debt crisis in Europe. The worst of the decline began on Thursday and stocks experienced another round of sell-offs before the close of the Markets on Friday. Even Blue Chip stocks such as Google, Apple, Verizon and General Electric were down at the close of trading. Hewlett-Packard stock sunk like a rock following its announcement that it may sell-off the PC, smartphone, and tablet portions of its business. HP also agreed to buy U.K. software giant Autonomy Corp. for a reported $10 billion. HP shares sank 20% after the announcement, dragging the Dow down with it. HP’s losses account for 45 points of the Dow’s decline. Meanwhile, computer hardware manufacturer, AMD, gained 3.28%, while rival, Intel, dropped 3%. (more…)
August 15th marks the 40th anniversary of the end of the gold standard in United States currency. On August 15, 1971, President Richard Nixon announced that the U.S. would no longer trade dollars for gold. Forty years later, the gold price is $1765.30, after hitting a record high of $1,817.60 on August 11.
“France…rolled with exceeding smoothness down hill, making paper money and spending it.” – Charles Dickens. Those words, from “A Tale of Two Cities,” could have been written today, and not merely about France.
The 40th anniversary coincides with data showing the U.S. dollar lost nearly a point today. The Swiss franc, a currency which has reduced its gold backing in recent years, has seen its value sliding for days and has lost roughly 11 percent overall. The Yen dropped as well, but the euro rose 1.4 percent. (more…)
The closing bell brought an end to a dramatic week in the markets. Thursday was the worst day for stocks since the beginning of the financial crisis. The Dow Jones Industrial Average took a 512-point nosedive, and concerns about the European debt crisis triggered a large-scale sell-off. This news came as a surprise to many analysts who expected the economy to continue recovering. As Friday dawned, the sell-off spread to markets worldwide.
However, there are already signs of recovery. Blue chip stocks, although still finishing low, experienced an upswing on Friday thanks to news that the national unemployment rate fell one-tenth of one percent to 9.1%. Corporations such as Costco have remained strong, rising 0.30%. (more…)
Traders use a combination of several tools in their daily routine. These include charting software, pattern-recognition software, risk-analysis tools, currency converters, simulators, etc. These tools can be used independently or can be integrated into a custom online trading platform to save time and effort.
Electronic Trading platforms, such as ETNA Trader, are a more sophisticated type of solution which can be custom built from the ground up to satisfy the needs of the specific broker/dealer or enterprise who will be using it. They are usually complete solutions which can incorporate any tools that the broker wishes to use. Online trading platforms offer the capability to view market prices and issue trades while incorporating many other features. Most trading platforms contain, (at the very least), charting software which can be programmed by the user to specify price, volume, and other deciding factors.
Social media are here to stay. Period. There is no way you can avoid Twitter and Facebook and Linkedin and Foursquare and more and more. Your friends checked-in in a bar and one of them was crowned a Mayor; your @girlfriend bought lettuce; the @person-you-do-not-even-know twitted about a terrible hangover and Lady Gaga released a new single on Facebook. This is fun, no doubt about that. There is business for social media. There is business for celebutante‘s. There is one question left – how can all that become useful for a trader? Could it be implemented in asset management software?
Twitter has become a dustbin of emotions. Emotions which people cannot control and which are caused by some real-life events. Should it be an act of terrorism or an experience with glossy iPad2. This is all real-life and it influences trades just as the acts proposed and natural calamities.
Now imagine that you could see the most real-time news possible – not from the news agencies – but from real eye-witnesses? What if you could understand the sentiment of the news, understand their volume, evaluate the authenticity of news and then make a trading decision on that signals? Will that affect your trading?
Would you want to wait for an official news source to find the very same information in the very same source and make it available for everyone? I wouldn’t. I would take this all by myself and be the first one to use the competitive edge and earn, earn and earn more.
Think about how social media could affect your day trading. Gain advantage and gain profit!
Global challenges force financial organizations to seek a new technology foundation for business. The combination of Service-Oriented Architecture (SOA) and Software-as-a-Service (SaaS) provides ultimate expandability cost effectively and unlimbers organizations for SaaS rapid change.
ETNA has introduced an effective way for retail banks to design and redesign business processes using SaaS & SOA in a relatively short time.
A more detailed description of the system is available in the whitepaper.
This whitepaper describes programming and design aspects for installation and customization of Silverlight functioning out of browser.
With the advent of the latest Silverlight business application-focused enhancements, large-scale interfaces and associated tooling provided by Visual Studio and Expression Studio, a developer is in a position to build this type of application rapidly and enjoy benefits of Web delivery and deployment.
You can request more detailed information concerning our work on Sliverlight and the way it is used in electronic trading applications by calling us at +1 (718) 717-2700 or by sending us a note from the Contact us page.