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Home / Analytics / Forex analysis & forecasts / Market Overview / Morning Call. Market Overview for 16.11.2016
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Morning Call. Market Overview for 16.11.2016

16.11.2016

The Big Picture

Warren Buffet, a star amongst investors, has re-found his love for airline stocks. The air travel industry has seen weakness in the past years.  Through his holding company Berkshire Hathaway, Buffet has invested in stocks of 4 air carriers, buying American Airlines, Delta Air, United Continental and Southwest Airlines. Warren Buffet is a classical “value“ investor. He invests in companies, which currently trade at stock values below his perceived total company value. Berkshire Hathaway owns 21.8 million shares of American Airlines, with a total value of 800 million USD. The shares have risen off their lows by 75%.

DAX

The DAX is in a sideways trend.  Resistance is at 10820, support at 10250.




Euro / USD

The Euro is in a downward trend.




USD / JPY

The USD is in an upward trend




Gold

Gold is in a downward trend




WTI Oil

WTI Oil is bottoming




Overnight:

The German stock market closed the day in positive territory. The DAX gained 0.39%. Lufthansa gained 3.17%, so continuing its upward trend. The stock was able to rise 44% off of its October lows. Warren Buffet´s decision to buy airlines maybe being a factor. Merck dropped 2%, despite giving good numbers. The upward trend in the Dow continued, the index reaching a new yearly high at 18923. Oils stocks were sought after oil prices retraced losses. Chevron and Exxon gain 2%. The tech sector also saw a rebound, the Nasdaq 100 gaining 1.33%. Asian markets trade up this morning. Japanese stocks profit from the Yen´s downward trend. The USD softens. Gold and WTI Oil start on a positive note.

Economic Data:

  • 14:30 USA: Producer Prices
  • 15:15 USA: Industrial Production

Quarterly Results:

  • USA: Cisco Systems

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.