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%.
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 is in a downward trend
WTI Oil is bottoming
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.
14:30 USA: Producer Prices
15:15 USA: Industrial Production
RoboForex Analytical Department
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