24.02 - A busy trading day ahead
- by Roger Gain
Investors and traders are waiting for developments.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Markets overview
Investors seem to be in wait-and-see mode right now.
U.S. stock futures are holding steady as most European markets edge higher in early trading.
Asian markets ended the day with mixed results.
The dollar is bouncing back today but still limited as concerns over President Donald Trump’s protectionist economic policies continued to weigh.
Gold prices dropped earlier, pulling back from 2-month peak as the dollar firmed after earlier losses.
2. Court ruling on Brexit
The GBP has taken a small dip after the U.K. Supreme Court ruled on Brexit.
The court ruled that the U.K. government must hold a vote in parliament before beginning the process of leaving the European Union.
The government had originally planned to trigger Brexit without a parliamentary vote.
3. Market movers and earnings
Shares in Samsung continued to push higher Tuesday after the firm reported its biggest quarterly profit in three years.
The firm's stock is trading near all-time highs even though the company has been linked to a huge political corruption scandal and has faced a public backlash for selling smartphones that overheated and occasionally caught fire.
Shares in Volkswagen are holding steady after a U.S. district court in California gave final approval for the firm to pay $1.2 billion to its American car dealers for its emissions-cheating scandal.
Shares in Yahoo are rising a bit in premarket trading after the company reported its latest quarterly results. The company's sale to Verizon is now expected to close in the second quarter of this year, a delay from initial plans to close the deal this quarter.
Shares in the British telecom firm BT Group are plunging by about 18% in London after the company reported "inappropriate behavior" and "improper accounting practices" in its Italian business.
3M, Alibaba, Johnson & Johnson, DuPont, Lockheed Martin, Verizon and Philips are releasing earnings before the open. Alcoa and Texas Instruments will release earnings after the close.
4. Trump hosting CEO’s
President Trump is hosting a breakfast meeting with the CEOs of General Motors (GM), Ford (F) and Fiat Chrysler (FCAU) on Tuesday.
"[Trump] looks forward to hearing their ideas on how we can work together to bring more jobs back to this industry in particular," White House spokesman Sean Spicer said.
Executives from Toyota (TM), Honda (HMC), Nissan (NSANF) and Hyundai, which all have U.S. plants as well as plants in Mexico, weren't invited to this meeting, according to spokespeople from those companies.
Trump has been vocal about his plans to penalize companies -- specifically automakers -- that make products in Mexico and then sell them in the U.S.