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Day: December 3, 2018

Costco downgraded as members-only retailer faces higher sales hurdles

Tougher sales comparisons and food price deflation at Costco will cut into performance in 2019, according to Citigroup, which downgraded the membership-only retailer to neutral on Monday. Citi analyst Kate McShane expects Costco to be a “standout” next year but notes that the retailer faces “challenging comps in the coming months at a time when …

Costco downgraded as members-only retailer faces higher sales hurdlesRead More

U.S. Manufacturing Activity Rebounds in November

The Institute for Supply Management (ISM) manufacturing index rose 1.6 percentage points to 59.3 in November. Markets were expecting a tiny tick down to 57.6 from October’s 57.7 value. With the exception of supplier deliveries, which has declined for two consecutive months, the main subcomponents of the index advanced in the month. New orders rebounded …

U.S. Manufacturing Activity Rebounds in NovemberRead More

USDTRY Outlook: Lira Weakens after Repeated Rejections at 200SMA; Higher Oil Prices and Overextended Studies add to Negative Outlook

The USDTRY ticked higher on Monday and probes through falling 10SMA (5.2644), after the downtrend was rejected above 200SMA (5.1216) for the third straight day. Lira was weaker on risk appetite after US/China tariff ceasefire agreement that pushed the dollar higher, as well as overextended daily studies which signal correction. Higher oil prices and high …

USDTRY Outlook: Lira Weakens after Repeated Rejections at 200SMA; Higher Oil Prices and Overextended Studies add to Negative OutlookRead More

US factory activity jumps in November while construction spending falls for third month

U.S. manufacturing activity rose more than anticipated in November but construction spending was worse than expected, falling for the third straight month. The ISM manufacturing PMI index hit 59.3 in November, better than the 57.8 expected by economists polled by Refinitiv. The result was up from October’s reading of 57.7. The index measures national factory …

US factory activity jumps in November while construction spending falls for third monthRead More