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T3's Take 3: Equities Fly, Crunch Time for Greece, Momo Stocks Run


Today's financial recap and tomorrow's financial outlook.

Today at T3 Live

T3 Live will be hosting its first annual Finance Festival this year!

The event will be held November 6-8 at the Mayfair Hotel & Spa in Coconut Grove, Florida, just minutes from Miami beach.

We'll kick off Friday evening with a VIP dinner followed by a weekend full of insightful keynote discussions, great food, and what promises to be the party of the year!

Click to Learn more about T3 Live's Finance Festival

Crunch Time for Greece

Greek Prime Minister Alexis Tsipras, accepted bailout terms proposed by eurozone leaders over the weekend. The next step is to gain the approval of several European parliaments, including the Greek parliament so that negotiations on a European Stability Mechanism (ESM) can begin.

Greeece's Reform Minister, George Katrougalos, responded to Tsipras' acceptance of the terms by saying "clearly the Europe of austerity has won".

The Greek parliament will now have to vote on the proposed measures by Wednesday. This may prove to be a tough hurdle as the Greece public rejected similar bailout terms in a referendum last month. According to Bloomberg, most of the current members the Greece parliament have already stated they are not in favor of the deal,m and will be voting against it unless Tsipras can convince them otherwise.

World Markets Rally

World equity markets saw another jump today thanks to Tsipras. Most major world indices gained more than 1%. Asian markets saw the biggest gains for the day. The Nikkei rose 1.6%, the Shanghai Composite gained 2.4%, the Shenzhen Composite surged 4.2%, while the Hang Seng index finished up 1.3%.

European gains were in-line with world markets. Germany's DAX was up 1.5%, and the French CAC jumped 1.9%.

US markets rallied slightly below their oversea counterparts. The NASDAQ was today's winner,  up 1.5%. The DJIA and S&P 500 gained 1.2%, and 1.1% respectively.

Momentums Fly

Momentum stocks made impressive gains today.

Fitbit (FIT) shares ripped on positive analyst coverage. Deutsche Bank (DB) issued a price target of $50, while Stifel Nicolaus declared a target of $57. Shares finished up 3.3%.

Apple (AAPL) received an upgrade from Societe Generale to a Buy rating with a $140 price target.

Facebook (FB) rallied 2.4%, breaking $90 for the first time.

Shake Shack (SHAK) jumped 2.4%.

Netflix (NFLX) surged 4.0%, reaching a new 52-week high of $716.16. Goldman Sachs (GS) raised its price target for the firm to $780 with a reiterated 'buy' rating on international expansion.

Tuesday's Financial Outlook

US economic for data will include NFIB small business optimism, retail sales numbers, import prices, and business inventories.

Overseas economic data will include German and British CPI, Japan's Monetary Policy Statement, and Chinese GDP.

Johnson & Johnson (JNJ), JP Morgan Chase (JPM), and Wells Fargo (WFC) will report earnings before the open. After the close, CSX (CSX) and YUM! Brands (YUM) will report their numbers.
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