Buy #SP500 | 08 March 2019

Buy #SP500

#VTB:


VTB Bank pleased investors with it is strong financial results. Net profit for FY 2018 increased by 48.9% year-on-year to RUB 178.8 billion, supported by stable performance in core income lines, enhanced cost efficiency and lower provision charges year-on-year. The Group significantly improved its cost efficiency even further in FY 2018: the ratio of costs to operating income before provisions declined to 40.5%, compared to 44.0% for FY 2017. The Group’s market share in Russia in corporate and retail lending stood at 18.6% and 17.8%, respectively.


Trading recommendation: Buy 0.0356 and take profit 0.0364.


Buy #SP500


#BRENT:


In the new five-day period I am waiting for the growth of oil prices. The OPEC oil cartel is rapidly reducing the production of black gold - this is a positive signal for the oil market! Saudi Arabia wants the price of oil at $ 80 /barrel. Saudi Arabia is ready to cut production to increase oil prices. The United States is reducing the number of drilling platforms. The current prices of oil will not allow American oil companies to rapidly increase the production of hydrocarbons. We must not forget about the reduction of oil production in Venezuela - there is a political crisis. All these factors are positive for the market!


Trading recommendation: Buy 64.50 and take profit 67.00.


Buy #SP500


#SP500:


The end of the trade conflict between the U.S. and China will support the U.S. stock market. Donald Trump renewed criticism of the Federal Reserve and said the U.S. central bank's tight monetary policy was contributing to a strong dollar and hurting the United States' competitiveness. Trump, who has made the economy a key part of his political platform, has repeatedly criticized the Federal Reserve and its chairman, Jerome Powell, whom he appointed to head up the Fed, for raising interest rates. Since FOMC will not raise interest rates in 2019- this is a good signal for the stock market and USDJPY, which has a correlation with the shares.


Trading recommendation: Buy 2800 and take profit 2821.

 

David Johnson
Analyst of «FreshForex» company
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