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Futures

FX Rundown - Blue Line Futures


Euro (June)

Session close: Settled at 1.1392, up 17 ticks

Fundamentals: The Euro worked higher today after a breath of fresh air from German Ifo Business Climate. Sentiment data in the Eurozone has been broadly trying to turn a corner in recent months. Still, German 10-year Bund yields stayed below zero and at the lowest level since October 2016 for much of the session. They dropped sharply Friday after the worst German Manufacturing PMI since September 2012. Relatively speaking, Flash PMIs in the U.S on Friday weren’t much better compared to expectations and this kept the Euro from having an even worse finish to the week. As we highlighted in our Tradable Events this Week, Fed speak will play a big role. Chicago Fed President Evans, a 2019 voter, said the yield curve inversion is “pretty narrow” and the fundamentals are still good. Former Fed Chair Yellen spoke at the same event and added that the yield curve may signal the need to cut rates but does not signal a recession. Philadelphia Fed President Harker, a 2020 voter, took a bit more hawkish route than other members saying he still sees one hike this year at most, but the Fed is still in a “wait-and-see mode”. This afternoon, according to the CME’s FedWatch Tool there is now only a 29% chance rates stay unchanged through 2019 and a 71% probability the Fed hikes. Tonight, Boston Fed President Rosengren, a 2019 voter, speaks 7:30 pm CT.

Tomorrow, we look to German Ifo Consumer Climate, French GDP and early comments from Evans and Harker again. On the heels of the sentiment data and with yields in focus, a German 2-year Schatz Auction at 5:40 am CT will be in focus. From the U.S, Building Permits and Housing Starts are due at 7:30 am CT, Case Shiller Housing is out at 8:00 am CT and the closely watched March Consumer Confidence is due at 9:00 am CT. Regional data from Richmond and Dallas will be released at 9:00 am CT and San Francisco Fed President Daly speaks at 2:00 pm CT.

Technicals: Price ping-ponged around in the latter half of last week. A move out above the 1.1442-1.1450 level brought a tailwind but what is now major three-star resistance at ... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels. 

 

Yen (June)

Session close: Settled at .91455, down 0.5 tick

Fundamentals: The Yen has shown great life in the last few sessions. A more dovish Federal Reserve followed by weakness in equity markets over the latter half of last week is a perfect recipe for higher prices. Today, the Yen finished higher amidst Dollar weakness and the U.S 10-year Note yield reaching the lowest level since December 2017. However, by the end of the session, equity markets are attempting to stabilize, and the 10-year yield recovered a bit. Ultimately, the Yen finished off the highs. Considering such, traders should not chase price action higher and instead wait for a constructive pullback, something that has seemed to be an oxymoron for the Yen in recent months. Still, with economic data dissipating and headwinds due to trade, Brexit and contracting earnings, the Yen should prove to trade higher over the longer-run. The Bank of Japan Summary of Opinions is due at 6:50 pm CT along with Corporate Services Price Index data. BoJ CPI is due at noon CT.

Technicals: After a string of favorable sessions, the Yen directly tested our major three-star resistance at ... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels. 

 

Aussie (June)

Session close: Settled at .7118 up 25 ticks

Fundamentals: The Aussie turned a corner late last night as traders looked to upbeat comments out of Beijing ahead of a fresh round of U.S and China trade talks later this week. Better Sentiment data out of Germany worked to buoy the tape. There is no data out of Australia tonight but that from Europe and the U.S tomorrow will play a key role.

Technicals: Today was green but price action did not get out above major three-star resistance at ... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels. 

 

Canadian (June)

Session close: Settled at .7472, up 1.5 ticks

Fundamentals: The Canadian pared lower action through the day but turned green late in the session as risk-sentiment began to pick-up. Overall, we see downside potential in this currency as trade and growth headwinds remain as relevant as ever. Crude Oil holding near $60 despite such has been a bright spot for the currency. There is no data out of Canada tomorrow but that from the U.S will be crucial.

Technicals: We find the tape immediate-term weak below our pivot at .74945. Price action neared major three-star support at .... Please sign up for a Free Trial at Blue Line Futures to view our entire technical outlook and proprietary bias and levels.

 

Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Visit our website at www.bluelinefutures.com to open an account and stay up to date with our research.

Bill Baruch is President and founder of Blue Line Futures. Bill has more than a decade of trading experience. Working with clients he focuses on developing trading strategies that present a clear objective for both long and short-term trading approaches. He believes that in order to properly execute a trading strategy, there must be a well-balanced approach to risk and reward.

Prior to Blue Line, Bill was the Chief Market Strategist at iiTRADER which followed running a trade desk at Lind Waldock and MF Global.

Bill is a featured expert on CNBC, Bloomberg and the Wall Street Journal as well as other top tier publications. 

Blue Line Futures is a leading futures and commodities brokerage firm located at the Chicago Board of Trade. We work with clients that range from institutional to professional to novice and from self-directed to broker-assisted. No matter what type of trader you are, our mission is simple; to put the client first. This means bringing YOU strong customer service, consistent and reliable research and state of the art technology. 

Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Blue Line Futures and is being posted with Blue Line Futures’ permission. The views expressed in this material are solely those of the author and/or Blue Line Futures and IBKR is not endorsing or recommending any investment or trading discussed in this material. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


23292




Macro

Interactive Brokers - Emerging Markets: The Week Ahead (Mar 25 - 29)


Mexico: What’s Brewing South of the Border?

Mexico is set to provide further color about the nation’s economic health in the week ahead, including updates on its labor market and trade balance, while Banco de México readies its next interest rate decision.

The Mexican economy has been recently flagged by major credit ratings agencies, including S&P Global Ratings and Moody’s Investors Service, as showing signs of potential credit deterioration, while the country’s leadership has generally railed against the assessments.

Mexican President Andrés Manuel López Obrador – widely referred to as ‘AMLO’ – had said earlier in March that certain nationally recognized statistical rating organizations (NRSROs) have been “punishing the country” for what the leader attributed to failures of “the neoliberal policy that was applied in the last 36 years.”

AMLO continued that his administration would “have to pay for the broken dishes” of past economic policy, which he characterized as “inefficient” and rife with looting and corruption.

The President further underscored his commitment to rescuing Mexican state-owned oil giant Petróleos Mexicanos (Pemex) and the Federal Electricity Commission (CFE) from the alleged corruption under the former neoliberal regimes, during which, he added, the ratings agencies had “remained silent.”

Among its strategies, AMLO’s administration aims to play a larger role in Pemex and CFE, as well as promote development finance by merging certain government-owned development banks to create new institutions.

However, S&P Global Ratings at the start of March revised its outlook on Mexico’s long-term ratings to negative from stable, while affirming its 'BBB+/A-2' foreign currency and 'A-/A-2' local currency sovereign credit ratings.

S&P noted that while it expects the López Obrador administration to “pragmatically implement economic policies that balance social priorities with the need for macroeconomic stability in Mexico,” a recent shift in government policy to reduce private-sector involvement in the energy sector, along with other developments, have “diminished investor confidence.” 

The agency added the policy actions could “contribute to higher contingent liabilities for Mexico and lower its GDP growth prospects” to 1.8% in 2019, down from 2% last year.

S&P placed at least a one-in-three possibility of a downgrade over the coming year.

Against this backdrop, Mexico's central bank, which carries a single mandate to maintain stable, low inflation rates, is set to announce its interest rate decision.

At its prior meeting in early February, Banco de México’s Governing Board elected to keep the target for the overnight interbank interest rate at 8.25%. 

 

During the fourth quarter of 2018, the bank said the nation’s economic activity slowed “significantly” compared to the previous quarter, and “this pattern could continue” in large part due to a deceleration of global economic growth, as well as “some weakness in domestic demand.” 

The central bank also highlighted that Inflation had fallen from 4.72% in November 2018 to 4.37% in January 2019, mainly due to a reduction in non-core inflation. It further added that “the possibility that the peso exchange rate comes under pressure stemming from external or domestic factors stands out.”

Marc Chandler, chief market strategist at Bannockburn Global Forex, observed that the Mexican peso fell nearly 1.25% ahead of the weekend, amid a bout of general risk aversion. He also pointed out that President AMLO indicated his government will not act to address bank fees and that banks ought to regulate themselves.  

In intraday trading Monday, Chandler added the peso is recouping some of its pre-weekend losses, but the dollar may find support near MXN19.00.

Meanwhile, market participants will have no shortage of economic data in the week ahead to further gauge the direction of Mexico’s economic health, starting in earnest with:  

Tuesday, March 26

  • Retail Sales (Jan)

Wednesday, March 27

  • Trade Balance (Feb)

  • Unemployment Rate (Feb)

Banco de México outlined some obstacles to trade in its prior meeting, including the ratification of the trade agreements reached between Mexico, the US and Canada, increased domestic uncertainty and less confidence in the outlook for the Mexican economy, as well as certain delays in the execution of public spending related to the beginning of its new administration.

One central bank member cited that “given the lower global dynamism, the country will face a certain deceleration in foreign trade, which has been one of Mexico’s main growth drivers in recent years.”

As for the labor market, some members noted the rise in the unemployment rate at the end of 2018 may have been affected by factors related to the present juncture, such as the cancelation of the New Mexico City International Airport’s construction.

Overall, however, the labor market remains tight, but slack conditions in the economy are expected to widen in the coming quarters. 

In the latter part of the week, market participants will be eyeing:

Thursday, March 28

  • Banco de México’s Interest Rate Decision

Investors will generally be watching the data for further direction into Mexico’s economy and financial well-being. 

Sentiment about the country’s ability to honor its debt obligations has been positive, as suggested by a more than 27.5bp tightening in its five-year credit default swap (CDS) spreads over the past three months. Mexico’s sovereign CDS stood at around 130bps intraday Monday.

In the meantime, select the Event Calendar option in the IBKR Trader Workstation for a full list of U.S. and global corporate events and earnings, dividend schedules, economic data, IPOs and more.

The author does not hold any positions in the financial instruments referenced in the materials provided.

There is a substantial risk of loss in foreign exchange trading. The settlement date of foreign exchange trades can vary due to time zone differences and bank holidays. When trading across foreign exchange markets, this may necessitate borrowing funds to settle foreign exchange trades. The interest rate on borrowed funds must be considered when computing the cost of trades across multiple markets.

The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


23291




Macro

Morningstar - Boards Becoming More Gender-Diverse, but Not Yet Balanced


Jeremy Glaser and Madison Sargis discuss progress being made on gender diversity on corporate boards.

 

Originally Posted on March 8, 2019

Morningstar provides a constant source for investment ideas with our comprehensive analyst reports on equities, ETFs, and credit ratings from more than 100 analysts. U.S. Interactive Brokers clients can sign up for a free trial of these reports in Account Management.

Opinions and estimates offered constitute our judgment and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions. We believe the information provided here is reliable, but do not warrant its accuracy or completeness. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The views and strategies described may not be suitable for all investors. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal, or tax advice. References to future returns are not promises or even estimates of actual returns a client portfolio may achieve. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation.

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Morningstar and is being posted with Morningstar's permission. The information provided in this material is from Morningstar and IBKR is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


23172




Macro

Franklin Templeton - Do Teachers' Strikes Have Us Picketing California School District Bonds? - By Jennifer Johnston


Two large teacher’s strikes in California have made headlines this year, one in Los Angeles and another in Oakland. Neither was prolonged, but both highlight funding concerns in these and other communities. Jennifer Johnston of our Municipal Bond department explains the role investors play in funding public education through municipal bonds.

Public education is viewed as one of the most important services that state and local governments provide. In fact, many state constitutions codify the importance of providing a strong government-funded public education system, require minimum funding levels and establish sophisticated district or bond oversight programs.

Despite widely held views of the importance of public education, there are still challenges in funding and administering education throughout the country. The state of California is seeing record surpluses and financial reserves, and it has been providing significantly more aid to school districts over the past few years after changing its school funding formula. If this is the case, why are schools in the state struggling?

Many districts are confronted with a range of challenges that often reduce dollars available for educational program expansion and funding salary increases and ultimately impact financial reserves and credit quality, including:

  • rapidly rising costs, largely from a significant increase in pension funding requirements for the two state-run pension funds;
  • demographic shifts resulting from fewer births, which lower enrollment and state operating aid1;
  • growth in charter schools, which also reduces district enrollment and state operating aid2
  • high costs of living and housing affordability issues, which are driving families out of certain districts; and
  • district employee salaries that don’t keep up with costs of living.

Our job is to evaluate this set of challenges and ultimately gauge credit quality. We evaluate the district’s willingness and ability to use their available tools to solve these issues.

Historically, teacher strikes have been infrequent and usually have resulted from the inability of management and employee unions (often teachers unions) to agree on contract terms, frequently around salary increases. While this hasn’t changed, we are seeing a new trend with unions striking over more policy-related issues like class sizes, the numbers of counselors and nurses, school closures, pension funding issues and even the increase in charter schools.

In California specifically, the recent strikes have occurred in districts with declining enrollment and high costs of living adding to these challenges. The timing of these strikes didn’t surprise us, because districts and the state are in budget season.

As teachers ultimately need more funding for their initiatives, this presents the most opportune point in the year to influence both the district and the state.

The Impact of Striking Teachers

While we don’t take a side in these battles, we analyze the outcomes to understand the impact on the district’s credit, of which environmental, social and governance (ESG) is a component, as follows:

Financial Impact: A strike can impact a district in two ways. First, resolution usually includes new contract terms with higher salary and benefit costs from either wage increases and/or increases in staffing. A second impact is on state aid. State aid is often tied to attendance. So, when parents keep kids out of school during a strike—perhaps in solidarity with the teachers or over concerns with education quality when teachers are out of the classroom—it results in less state funding. So, the length of a strike can be important financially. We focus our analysis on the district’s ability to afford the increased net costs in the current and future fiscal years. Given that school funding is largely from the state, we view this in the context of the state’s fiscal health and commitment to providing additional funding when required.

Community/Enrollment Impact: Declining enrollment can be a financial challenge for districts. Whether general demographics or charter schools are the cause, it can result in funding decreases without commensurate spending decreases. After a strike, we keep a closer eye on enrollment to see if the strike drives more students into charter, religious or private schools, which can further exacerbate general demographic trends.

Management Analysis: Assessing the school management’s relationship with its unions is an important component. We carefully watch how management and unions interact and how management deals with the challenges. We want to feel comfortable that management can and will address issues as they occur and maintain a working relationship with its employees.

How Strikes Impact Our Overall Analysis

We then view a particular strike within the context of the larger credit profile of the district:

  • We look at the financial position and whether the costs are affordable.
  • We determine how much financial flexibility the district has to address its challenges.
  • We consider the security structure of the district’s bonds to assess the impact of these costs on the ability to service debt.
  • We analyze the tax base to understand whether its fixed costs are affordable.
  • We look at enrollment trends in context of general demographics as well as academic performance, charter school penetration and costs of living.
  • We consider the state’s prioritization of funding school aid, its current budget outlook and any policy directives under consideration.
  • We dive deep into the pension funds’ condition, annual funding needs and pressure points in the future.
  • In the case of California in particular, we incorporate the strength that comes from the state’s oversight program, which up until now, has helped keep all of its distressed school districts out of insolvency, default and bankruptcy.

Our expertise in this sector has taught us that a strike alone is not a reason for investors to sell the corresponding municipal bond investments. First, strikes usually don’t come as a surprise as they are often linked to challenges with the credit that have developed over time. Second, we often continue to hold muni bonds in school districts that have had or could have a strike, because we don’t expect the strike to impair the district’s ability to service debt.

We might also determine the property tax base can support the debt and that the state’s oversight program will provide technical guidance or financial support to help a district avoid insolvency.

While we have highlighted California public schools specifically, these challenges aren’t limited to the Golden State. We have seen strikes at districts across the country and in some cases, state-wide strikes.

In any case, our research approach stays the same. We examine credit at the district level to understand its individual challenges, financial tools, management abilities, security structure and long-term liabilities. We look at overall funding pressures, demographic trends and state policy and funding approaches to understand the potential impacts.

As a result of these exhaustive efforts, our municipal bond portfolios are able to invest in school bonds that we think should be able to weather these challenges, and, just as importantly, hopefully avoid others that may be more exposed to downside risks.

 

1. State operating aid is largely based on average daily attendance, so when enrollment declines so does state aid, assuming per pupil spending doesn’t change.

2. Ibid.

To get insights from Franklin Templeton delivered to your inbox, subscribe to the Beyond Bulls & Bears blog.

For timely investing tidbits, follow us on Twitter @FTI_US and on LinkedIn.

--

Originally Posted on March 14, 2019

The comments, opinions and analyses presented herein are for informational purposes only and should not be considered individual investment advice or recommendations to invest in any security or to adopt any investment strategy. Because market and economic conditions are subject to rapid change, comments, opinions and analyses are rendered as of the date of the posting and may change without notice. The material is not intended as a complete analysis of every material fact regarding any country, region, market, industry, investment or strategy.

This information is intended for US residents only.

What Are the Risks?

All investments involve risks, including possible loss of principal. Because municipal bonds are sensitive to interest-rate movements, a fund’s yield and share price will fluctuate with market conditions. Bond prices generally move in the opposite direction of interest rates. Thus, as prices of bonds in a fund adjust to a rise in interest rates, the fund’s share price may decline. To the extent a fund focuses its investments in a single state or territory, it is subject to greater risk of adverse economic and regulatory changes in that state or territory than a geographically diversified fund. Changes in the credit rating of a bond, or in the credit rating or financial strength of a bond’s issuer, insurer or guarantor, may affect the bond’s value. A fund may invest a significant part of its assets in municipal securities that finance similar types of projects, such as utilities, hospitals, higher education and transportation. A change that affects one project would likely affect all similar projects, thereby increasing market risk. Investments in lower-rated bonds include higher risk of default and loss of principal.

For investors subject to the alternative minimum tax, a small portion of municipal bond fund dividends may be taxable. Distributions of capital gains are generally taxable

Federal and state laws and regulations are complex and subject to change, which can materially impact your results. Always consult your own independent financial professional, attorney or tax advisor for advice regarding your specific goals and individual situation.

Past performance does not guarantee future results.

Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from Franklin Templeton and is being posted with Franklin Templeton’s permission. The views expressed in this material are solely those of the author and/or Franklin Templeton and IBKR is not endorsing or recommending any investment or trading discussed in the material. This material is for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


23200




株式

The Fly - Nvidia seen taking 'page out Intel's strategy' with GPU ecosystem expansion - By Jessica de Sa-Mota


Last week, Nvidia announced a deal to buy Mellanox for $125 per share, or a total enterprise value of about $6.9B

Commenting on the presentation made by Nvidia (NVDA) CEO Jensen Huang at this year's GPU Technology Conference, where he announced the expansion of its GPU development ecosystem, Stifel analyst Kevin Cassidy said he believes the company is taking "a page out of Intel's strategy" and that he came away "impressed" with the expanding range of GPUs with price, performance and power trade-offs to address markets from supercomputers to toy robots. Voicing a similar opinion, his peer at Wells Fargo raised his price target on Nvidia shares to $190, and added that he views Nvidia's acquisition of Mellanox (MLNX) as positive.

GPU ECOSYSTEM EXPANSION: Nvidia has announced several developments that it said "reinforce NVIDIA GeForce GPUs as the core platform that allows game developers to add real-time ray tracing effects to games." The announcements, which build on the central role Microsoft (MSFT) DirectX Ray Tracing plays in the PC gaming ecosystem, include integration of real-time ray tracing into Unreal Engine and Unity; adding ray tracing support to GeForce GTX GPUs; the introduction of Nvidia GameWorks RTX, a comprehensive set of tools and rendering techniques that help game developers add ray tracing to games; and new games and experiences that showcase real-time ray tracing such as Dragonhound, Quake II RTX and others. "When programmable shaders were introduced more than 15 years ago, they changed gaming forever. Today, real-time ray tracing is set to do the same thing - it represents the next landmark shift in game development," said Matt Wuebbling, head of GeForce marketing at Nvidia. "The breadth of industry adoption is remarkable -standard APIs, integration in major game engines, multiple AAA titles and support enabled in millions of hardware products. It all points to an exciting future for gamers." Investors in Epic Games, which makes the Unreal Engine, include Tencent (TCEHY), KKR (KKR), and Disney (DIS). The company also announced a collaboration with Amazon (AMZN) Web Services Internet of Things on Nvidia Jetson to enable customers to deploy Artificial Intelligence and deep learning to millions of connected devices. This joint solution enables models to be easily created, trained and optimized on AWS, then deployed to Jetson-powered edge devices using AWS IoT Greengrass. The Nvidia Jetson platform offers AI at the edge with high-performance and power-efficient computing. Applications include autonomous machines and smart cameras for industries such as retail, manufacturing, agriculture and more.

'A PAGE OUT OF INTEL'S STRATEGY': Noting that Nvidia's CEO, Jensen Huang, kicked off this year's GPU Technology Conference with announcements for expanding the GPU development ecosystem, Stifel's Cassidy told investors that he believes Nvidia is taking a page out of Intel's (INTC) strategy that made the x86 CPU the broadest used CPU architecture. Nvidia's common GPU architecture across multiple end markets gives leverage for third party software and tool developers, he contended, adding that he came away from the presentation "impressed" with the expanding range of GPUs with price/performance/power trade-offs to address markets from supercomputers to toy robots. Additionally, the analyst pointed out that he expects Nvidia and Mellanox to continue developing products that off-load workloads from the CPU to GPUs, networks and network processors. Cassidy reiterated a Hold rating and $150 price target on Nvidia’s shares. Meanwhile, Wells Fargo analyst Aaron Rakers raised his price target for Nvidia to $190 from $170 following the keynote presentation made by Jensen Huang at GTC. Given investor focus on Nvidia's $6.9B acquisition of Mellanox, the analyst thinks the company's datacenter-focused announcements are "the most notable focus." Rakers reiterated an Outperform rating on Nvidia's shares.

PRICE ACTION: In morning trading, shares of Nvidia have gained about 4% to $175.31.

--

Originally Posted on March 19, 2019

The Fly is a leading digital publisher of real-time financial news. Our exclusive live streaming subscription service breaks the material information moving stocks. Our financial market experts understand that news impacting stock prices can originate from anywhere, at any time. The Fly team scours all sources of company news, from mainstream to cutting-edge, then filters out the noise to deliver short-form stories consisting of only market moving content. The Fly is your filter to the often complex world of stock news.

 

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Information posted on IBKR Traders’ Insight that is provided by third-parties and not by Interactive Brokers does NOT constitute a recommendation by Interactive Brokers that you should contract for the services of that third party. Third-party participants who contribute to IBKR Traders’ Insight are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from The Fly and is being posted with The Fly’s permission. The views expressed in this material are solely those of the author and/or The Fly and IBKR is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation to buy, sell or hold such security. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.


23224




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IBトレーダーズ・インサイト上の資料(記事やコメンタリーを含む)は情報提供のみを目的として提供されています。掲示される資料はIBトレーダーズ・インサイトに掲示をする可能性のある独立したアドバイザーまたはヘッジファンドまたはその他の個人とお客様またはお客様のクライアントが、サービスの契約または投資をすることをインタラクティブ・ブローカーズ(IB)が推奨するものではありません。IBトレーダーズ・インサイトに掲示をする可能性のあるアドバイザーまたはヘッジファンドまたはその他のアナリストはIBとは無関係であり、IBはこういったアドバイザーまたはヘッジファンドまたはその他の個人の過去または将来のパフォーマンス、またはその提供する情報に関する表明または保証をすることはありません。インタラクティブ・ブローカーズはアドバイザーまたはヘッジファンドまたはその他の個人による取引がお客様に適格であることを確認する「適正審査」を行うことはありません。

掲示されている資料に記載される有価証券またはその他の金融商品はすべての投資家に適するものではありません。掲示されている資料はお客様特有の投資目的、経済状況またはニーズを考慮するものではなく、また特別な有価証券、金融商品または戦略をお客様に推奨するものではありません。投資または取引をする前に、これがお客様特有の状況に適しているかを熟考し、必要な場合には専門家のアドバイスをお求めください。過去のパフォーマンスは将来の結果を保証するものではありません。

第三者機関より提供される情報はすべて信頼性および正確性のあると思われる情報源より入手していますが、IBではその正確性を保証するものではなく、いかなる過失または不作為に対する責任を負うことはありません。

IBの雇用者または関連会社により掲示される情報は信頼性のあると思われる情報に基づきますが、IBまたは関連会社のいずれもその完全性、正確性または適切性を保証するものではありません。IBはいかなる金融商品の過去または将来のパフォーマンスに関する表明または保証をすることはありません。IBトレーダーズ・インサイトに資料を掲示することにより、IBはいかなる特定の金融商品または取引戦略がお客様に適切であると示すものではありません。