DAILY MARKET REPORT - Friday, Feb 12, 2021


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Walt Disney (NYSE: DIS) shares rose about 3% in after-market trading and reached a new all-time high of $193.89 after the company surprised Wall Street with the last quarter financial results. Disney+ subscribers totalled 94.9 million at the end of the quarter, more than double the subscriber base a year ago.

  • Earnings per share (EPS) $.32 vs. -$.41 expected
  • Revenue $16.25 billion vs. $15.9 billion expected
“We’re confident that, with our robust pipeline of exceptional, high-quality content and the upcoming launch of our new Star-branded international general entertainment offering, we are well-positioned to achieve even greater success going forward.” CEO, Bob Chapek said.


Global stocks trading mixed on Friday as U.S.-China Tension rises again. On Thursday, US president Joe Biden said he spoke Wednesday with Chinese President Xi Jinping for two hours. "If we don't get moving, they're going to eat our lunch," Biden warned the senators after the two hours conversation.


Crude oil prices retreated from the 13-month highs after both OPEC and EIA revised down their fuel demand outlook for 2021.


In the currency market, the British pound trading below 1.3700 following on weaker economic data. While the US dollar slightly rebounded from the fresh monthly lows supported by better-than-expected US jobless claims data.


The gold price slipped to near the weekly lows after the US dollar trades higher for the second consecutive day. Overall, the movement remains bearish throughout the European session.

Economic Outlook

On the data front, the UK GDP rose 1% in the fourth quarter following 16.1% growth in the third quarter. On the other hand, UK manufacturing production fell 2.5% year-on-year in December of 2020, following a downwardly revised 2.6% fall in November.

On Thursday, the U.S. Labor Department released the weekly jobless claims data. The data showed that U.S. initial jobless benefit claims in states fell to 793,000 from revised 812,000 in early February.

Coronavirus update:

Worldwide, the number of COVID-19 cases reported is more than 107.5 million and more than 2.35 million have died. The United States has confirmed over 27.3 million cases and has had more than 472,000 deaths from COVID-19, the highest totals in the world.

Technical Outlook

Dollar index:
The greenback once again found strong buyers above the psychological area 90. At the time of writing, the index trading steady above 90.50


The important levels to watch for today: Support- 90.20 and 89.90 Resistance- 90.70 and 91.00.

GOLD: The yellow metal below the $1820 during the European session. If the bearish momentum continues the next downside levels to watch $1806 and $1800.

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The important levels to watch for today: Support- 1806 and 1800 Resistance- 1820 and 1826.

Quote of the day: What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower – William O’Neil.

Read more- https://gulfbrokers.com/en/daily-market-report-259