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T3's Take 3: US Markets Cool, LinkedIn Dives, SoulCycle to IPO


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

Today on T3 Live

T3 forex expert Romeo Filip outlined special opportunities in the EUR/USD, CAD/CHF, and EUR/CAD pairings. The EUR gained 0.34% against the USD, the CHF gained 0.87% against the CAD, and the EUR gained 1% against the CAD.

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US Markets Cool Down

The US dollar fell against major currencies, and Treasury yields fell as economic data came in today. The Employment Cost Index rose by 0.2%, the lowest quarterly amount in 33 years. Economists expected a 0.6% gain. The S&P 500, Dow Jones Industrial Average, and the NASDAQ all finished slightly negative. The Russell 2000 beat out the other indices, rallying 0.5%.

International markets fared better. European marketswere green all across the board. The French CAC gained 0.7%, and the German DAX rose 0.5%. Economic data showed that eurozone inflation remained stable, easing investor concerns.

Most Asian markets rallied as well. Japan's Nikkei finished up 0.3%, and the Korean Kopsi gained 0.6%. In China, the Hong Kong Hang Seng Index rallied 0.56%, while the Shanghai Composite tumbled 1.1%. According to Reuters, China's security regulators are investigatinging automated trading and restricted some stock trading accounts.

LinkedIn Dives

LinkedIn (LNKD) shares fell 10.5% today following yesterday afternoon's earnings report. The company actually beat Wall Street expectations, reporting EPS of $0.55 vs. the $0.25 expected. Revenue also beat expectations at $711 million.

Shares sold off due to concerns over earnings quality. The company stated that it expects significant future growth to come from the recently acquired rather than the core business. Investors also noted that the amount of the company can charge for displaying ads declined about 30% during the quarter.

SoulCycle Files for IPO

The high-end indoor spin class chain SoulCycle filed to go public yesterday. The company's S-1 statement show that revenues were $111 million in 2014, up 49% YoY. Q1 revenue was $34 million, up 53% YoY. The Q1 gross margin was 25%.

Much of the financial media expressed doubt about the deal, since the company is seen as perhaps too trendy with a limited appeal.

Monday's Financial Outlook

US economic data for Monday will include personal income, PCE, Markit US manufacturing, construction spending, ISM, and Wards auto sales numbers.

Overseas economic data will include Swiss SVME PMI, British Markit UK PMI, Japan's monetary base, and Australia's trade balance.

CDW (CDW), Frontier Communications  (FTR), NextEra Energy (NEE), and Tyson Foods (TSN) will announce earnings before the market open on Monday.

After the close, Allstate (ALL), American International Group (AIG), Avis Budget (CAR), and Community Health (CYH) will release their earnings reports.
No positions in stocks mentioned.
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