{"id":1444,"date":"2024-11-25T18:03:40","date_gmt":"2024-11-25T15:03:40","guid":{"rendered":"https:\/\/market-monitor.staginghub.net\/?p=1444"},"modified":"2024-11-27T14:52:00","modified_gmt":"2024-11-27T11:52:00","slug":"market-monitor-14","status":"publish","type":"post","link":"https:\/\/market-monitor.staginghub.net\/ro\/2024\/11\/25\/market-monitor-14\/","title":{"rendered":"MARKET MONITOR 14"},"content":{"rendered":"\n<p><strong>25 noiembrie 2024<\/strong><\/p>\n\n\n\n<p>Bun venit venit la edi\u021bia s\u0103pt\u0103m\u00e2nal\u0103 a newsletter-ului nostru despre pie\u021bele interna\u021bionale.&nbsp;<\/p>\n\n\n\n<p>Acest material este structurat pe<strong> 3 categorii de informa\u021bii, <\/strong>pentru o lectur\u0103 mai facil\u0103 \u0219i urm\u0103rirea cursiv\u0103:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Informa\u021bii de lucru &#8211; MARKET PERFORMANCE&nbsp;<\/strong><\/li>\n\n\n\n<li><strong>Informa\u021bii utile &#8211; ADDITIONAL RESOURCES&nbsp;<\/strong><\/li>\n\n\n\n<li><strong>Informa\u021bii educative &#8211; EDUCATION GUIDE&nbsp;<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Acest newsletter are scop pur informativ \u0219i educativ, prin urmare nu con\u021bine recomand\u0103ri de investi\u021bii.&nbsp;<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>IMPORTANT: Pie\u021bele vor fi \u00eenchise joi, de Ziua Recuno\u0219tin\u021bei, iar sesiunea de tranzac\u021bionare de vineri se va \u00eencheia devreme, la ora 13:00 East Time (ora 19,00 \u00een Rom\u00e2nia)<\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong><em>SEC\u021aIUNEA: MARKET PERFORMANCE&nbsp;<\/em><\/strong><\/h4>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Rezumatul s\u0103pt\u0103m\u00e2nii precedente:<\/strong><strong>&nbsp;<\/strong><\/h4>\n\n\n\n<p><strong>18 &#8211; 22 Noiembrie 2024&nbsp;<\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>US CONSUMER SENTIMENT PENTRU NOIEMBRIE A CRESCUT.<\/strong>\u00a0<\/h4>\n\n\n\n<p>Indicele de \u00eencredere al consumatorilor <strong>(US consumer sentiment Index &#8211; ICS)<\/strong> publicat de Universitatea din Michigan a urcat la 71,8 \u00een aceast\u0103 lun\u0103, cel mai ridicat nivel din aprilie, de la 70,5 \u00een octombrie.&nbsp;<\/p>\n\n\n\n<p>Indicele publicat are o valoare mai mica dec\u00e2t estimarea medie a economi\u0219tilor intervieva\u021bi, care se situa la valoarea de 73,7 \u0219i mai mica dec\u00e2t valoarea preliminar\u0103 de 73,0, o estimare finalizat\u0103 \u00eenainte de alegerile din 5 noiembrie.<br>Acest indice se ob\u021bine printr-un un sondaj telefonic efectuat lunar, \u00een care consumatorii sunt \u00eentreba\u021bi despre:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Percep\u021biile lor curente asupra economiei.<\/li>\n\n\n\n<li>A\u0219tept\u0103rile economice pentru urm\u0103toarele 12 luni \u0219i 5 ani.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>CURSUL DE SCHIMB USD\/ EUR AJUNGE LA 1,04. DOLARUL SE \u00ceNT\u0102RE\u0218TE<\/strong><\/h4>\n\n\n\n<p>Dolarul american s-a apreciat in raport cu EUR in s\u0103pt\u0103m\u00e2na ce tocmai s-a \u00eencheiat \u0219i se apropie de paritate.&nbsp;<\/p>\n\n\n\n<p>Euro s-a tranzac\u021bionat sub acest nivel: o dat\u0103 la \u00eenceputul anilor 2000 \u0219i din nou pentru c\u00e2teva luni \u00een 2022, c\u00e2nd ratele dob\u00e2nzilor din SUA au crescut mai repede dec\u00e2t cele din zona euro, \u00een timp ce Europa se lupta cu cre\u0219terea pre\u021burilor la energie care a urmat r\u0103zboiului din Ucraina.<\/p>\n\n\n\n<p>Ce \u00eenseamn\u0103 pentru \u00eentreprinderi \u0219i gospod\u0103rii?<\/p>\n\n\n\n<p>O moned\u0103 euro slab\u0103 cre\u0219te de obicei costul importurilor. Acest lucru poate duce la cre\u0219terea pre\u021burilor la alimente, energie \u0219i materii prime, agrav\u00e2nd infla\u021bia.<\/p>\n\n\n\n<p>De c\u00e2nd a atins dou\u0103 cifre \u00een urm\u0103 cu doi ani, infla\u021bia a sc\u0103zut, a\u0219a c\u0103 lovitura asupra pre\u021burilor din cauza sl\u0103birii monedei euro nu ar trebui s\u0103 fie o mare \u00eengrijorare deocamdat\u0103. Majoritatea economi\u0219tilor v\u0103d infla\u021bia \u00eenapoi la \u021binta de 2% anul viitor, dup\u0103 o oarecare volatilitate la sf\u00e2r\u0219itul anului 2024.<\/p>\n\n\n\n<p>\u00cen schimb, o sc\u0103dere a monedei euro face ca exporturile s\u0103 fie mai ieftine &#8211; ve\u0219ti bune pentru produc\u0103torii de automobile, industria \u0219i comercian\u021bii cu am\u0103nuntul de lux din Europa, de exemplu, \u0219i pentru persoanele fizice sau investitorii cu venituri din str\u0103in\u0103tate.<\/p>\n\n\n\n<p>Este deosebit de pozitiv pentru Germania. Considerat de mult timp motorul de export al Europei. (citeste tot articolul aici <a href=\"https:\/\/www.reuters.com\/markets\/currencies\/why-is-euro-falling-could-it-hit-1-2024-11-13\/\">Why is the euro falling and could it hit $1? | Reuters<\/a><strong>)<\/strong>&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>NVIDIA RAPORTEAZ\u0102 EXCELENT, DAR NEMUL\u021aUME\u0218TE.&nbsp;<\/strong><\/h4>\n\n\n\n<p>NVIDIA a raportat excelent miercurea trecut\u0103 dar, cu toate acestea, ac\u021biunea nu a avut reac\u021bii majore.<br>NVIDIA este acum cea mai capitalizat\u0103 companie din lume, cu o valoare de pia\u021b\u0103 de peste 3,6 trilioane de dolari &#8211; a raportat v\u00e2nz\u0103ri cu peste 93% mai mari YtoY, dep\u0103\u0219ind estim\u0103rile cu 6 procente, dar investitorii par a fi nemul\u021bumi\u021bi de indiciile care spun c\u0103 \u00een trimestrul al treilea cre\u0219terea v\u00e2nz\u0103rilor va fi de numai 70%. (!)<\/p>\n\n\n\n<p>De\u0219i aceast\u0103 rat\u0103 de cre\u0219tere ar fi invidiat\u0103 de orice companie, dezam\u0103girea u\u0219oar\u0103 a investitorilor eviden\u021biaz\u0103 faptul c\u0103 a\u0219tept\u0103rile sunt foarte ridicate, iar capacitatea de a le \u00eendeplini devine din ce \u00een ce mai dificil\u0103.<\/p>\n\n\n\n<p>Sectorul tehnologic pare s\u0103 treac\u0103 printr-o perioad\u0103 de consolidare pentru a digera c\u00e2\u0219tigurile sale extraordinare din ultimii doi ani.<\/p>\n\n\n\n<p>Mai jos, graficul evolu\u021biei ac\u021biunii NVIDIA s\u0103pt\u0103m\u00e2na trecut\u0103.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXeVm4_-BWodQz7pxMwwy9L_TqxvYhGIxlm5JYv3PGKLiysjwTXKsNng2m7mYU7H0SyenNNivmj5Uz_qHdloM2d2tI9JMGnAiQUE3scgFuoA8mATNx-svhbqEc7yP0B1-R5ABLz35_W3RVy8x1nUIA?key=miJkJ885_wQX0gPpSaJuY2a9\" alt=\"\"\/><\/figure>\n\n\n\n<p><em>Sursa graficului: tradingview.com<\/em><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>CASELE NOI, \u00ceN SC\u0102DERE. V\u00c2NZ\u0102RILE DE CASE EXISTENTE, \u00ceN CRE\u0218TERE.<\/strong><\/h4>\n\n\n\n<p>La raportarea pe luna Octombrie, era a\u0219teptat\u0103 o u\u0219oar\u0103 sc\u0103dere a construc\u021biilor de case noi, de la 1,35 milioane \u00een luna Septembrie, la 1,34 milioane \u00een luna trecut\u0103. Dar raportarea a fost de numai 1,311 milioane case noi, \u00een sc\u0103dere cu -3,1 procente fa\u021b\u0103 de luna anterioar\u0103, mult sub previziune.<\/p>\n\n\n\n<p>V\u00e2nzarea de case noi este un \u201dleading indicator\u201d, care arat\u0103 \u00een avans direc\u021bia economiei americane (vezi despre LEI, mai jos), prin urmare sc\u0103derea acestui indicator ne poate indica o posibil\u0103 \u00eencetinire a economiei. De altfel, semnalele din economie sunt mixte \u0219i trebuie urm\u0103rite pe o mai lung\u0103 perioad\u0103 de timp.<\/p>\n\n\n\n<p>S\u0103pt\u0103m\u00e2na trecut\u0103 a ap\u0103rut \u0219i raportul Asocia\u021biei Na\u021bionale a Agen\u021bilor Imobiliari privind v\u00e2nz\u0103rile de locuin\u021be existente \u00een octombrie, care au crescut de la an la an pentru prima dat\u0103 din iulie 2021. Raportul optimist a citat c\u00e2\u0219tigurile suplimentare de locuri de munc\u0103, cre\u0219terea economic\u0103 continu\u0103 \u0219i stabilizarea ratelor ipotecare ca factori care au condus la cre\u0219terea cererii de locuin\u021be.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>UN INDICE LEGAT DE\u00a0 EVOLU\u021aIA ECONOMIEI A SC\u0102ZUT DIN NOU\u00a0<\/strong><\/h4>\n\n\n\n<p><strong><em>&nbsp;Leading Economic Indicators (LEI)<\/em><\/strong> &#8211; un indice complex generat de Conference Board, care indic\u0103 \u00een avans direc\u021bia economiei americane, a fost dat publicit\u0103\u021bii joia trecut\u0103.&nbsp;<\/p>\n\n\n\n<p>LEI a sc\u0103zut cu 0,4% \u00een octombrie 2024, p\u00e2n\u0103 la 99,5 (2016=100), dup\u0103 o sc\u0103dere de 0,3% \u00een septembrie (revizuit\u0103 \u00een cre\u0219tere de la o sc\u0103dere de 0,5%).&nbsp;<\/p>\n\n\n\n<p>\u00cen perioada de \u0219ase luni cuprins\u0103 \u00eentre aprilie \u0219i octombrie 2024, LEI a sc\u0103zut cu 2,2%, pu\u021bin mai mult dec\u00e2t declinul de 2,0% \u00eenregistrat \u00een perioada anterioar\u0103 de \u0219ase luni (octombrie 2023 &#8211; aprilie 2024).<\/p>\n\n\n\n<p><strong><em>\u201eCea mai mare contribu\u021bie negativ\u0103 la declinul LEI a venit din partea comenzilor noi ale produc\u0103torilor, care au r\u0103mas slabe \u00een 11 din 14 industrii\u201d, <\/em><\/strong>a declarat un reprezentant al The Conference Board.&nbsp;<\/p>\n\n\n\n<p><strong><em>\u201e\u00cen octombrie, orele lucrate \u00een industria prelucr\u0103toare au sc\u0103zut cel mai mult din decembrie 2023, \u00een timp ce cererile de asigurare de \u0219omaj au crescut \u0219i autoriza\u021biile de construc\u021bie au sc\u0103zut, reflect\u00e2nd par\u021bial impactul uraganelor din sud-estul SUA. \u00cen afar\u0103 de posibilele efecte temporare ale uraganelor, LEI din SUA a continuat s\u0103 sugereze provoc\u0103ri pentru activitatea economic\u0103 viitoare. \u201d<\/em><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>CIFRE BUNE PE PIA\u021aA MUNCII.<\/strong><\/h4>\n\n\n\n<p>Joi, Departamentul Muncii a raportat o sc\u0103dere nea\u0219teptat\u0103 a cererilor ini\u021biale de \u0219omaj pentru s\u0103pt\u0103m\u00e2na \u00eencheiat\u0103 la 16 noiembrie 2024, care a p\u0103rut s\u0103 contribuie la cre\u0219terea sentimentului pozitiv spre sf\u00e2r\u0219itul s\u0103pt\u0103m\u00e2nii.&nbsp;<\/p>\n\n\n\n<p>Cererile de ajutor de \u0219omaj au sc\u0103zut la 213.000, o sc\u0103dere de 6.000 fa\u021b\u0103 de s\u0103pt\u0103m\u00e2na precedent\u0103 \u0219i cel mai mic num\u0103r din aprilie 2024.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>SEZONUL RAPORT\u0102RILOR FINANCIARE<\/strong><\/h4>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Ce s-a \u00eent\u00e2mplat s\u0103pt\u0103m\u00e2na trecut\u0103<\/strong><\/h4>\n\n\n\n<p><strong>NVIDIA &#8211; <\/strong>ultimul din cei \u0218apte Magnifici din tehnologie \u0219i-a prezentat miercuri rapoartele financiare. A dep\u0103\u015fit previziunile anali\u015ftilor cu venituri de 35,1 miliarde de dolari, fa\u0163\u0103 de estimarea de 33,09 miliarde. De asemenea, c\u00e2\u015ftigul pe ac\u0163iune ajustat a fost de 81 de cen\u0163i, peste a\u015ftept\u0103rile pie\u0163ei.<\/p>\n\n\n\n<p>Nvidia domin\u0103 pia\u0163a cipurilor de mare performan\u0163\u0103 necesare pentru modelele avansate de inteligen\u0163\u0103 artificial\u0103, iar lansarea viitorului chip <strong>\u201dBlackwell\u201d<\/strong> este a\u015fteptat\u0103 cu interes. Pe parcursul conferin\u0163ei financiare, CEO-ul Jensen Huang a precizat c\u0103 cererea pentru noul chip dep\u0103\u015fe\u015fte capacitatea de produc\u0163ie disponibil\u0103.<\/p>\n\n\n\n<p>Alte dou\u0103 companii de tehnologie importante &#8211; <strong>Palo Alto Networks (PANW) si Snowflake (SNOW) <\/strong>au avut raport\u0103ri \u00een aceea\u0219i zi cu <strong>NVIDIA.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXcVkRB8s1W5vA3OkCCxgLcnoYresTTizkdqbDlUH79bB275AyMymX6vYRUP_s6lrJLewISBIqZkmnnAU6vDPW9ukDwiEWJMRpYn5b8OoxBbe4r-yEef8Ffmh1rkv4-Zr-Ga58Q-c95bNt6nzbKBBlc?key=miJkJ885_wQX0gPpSaJuY2a9\" alt=\"\"\/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Ce se va \u00eent\u00e2mpla s\u0103pt\u0103m\u00e2na aceasta:<\/strong><\/h4>\n\n\n\n<p>Vom afla rezultatele trimestriale de la <strong>Zoom (ZM)<\/strong>, <strong>Dell (DELL), Best Buy (BBY),<\/strong> <strong>CrowdStrike (CRWD)<\/strong> \u0219i <strong>Macy&#8217;s (M)<\/strong>, pe o list\u0103 scurt\u0103 a companiilor care vor atrage aten\u021bia investitorilor.<\/p>\n\n\n\n<p>Mai jos, o scurt\u0103 selec\u021bie cu unele dintre companiile care \u00ee\u0219i vor prezenta raport\u0103rile financiare.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"363\" src=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/raportari1-1024x363.png\" alt=\"\" class=\"wp-image-1450\" srcset=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/raportari1-1024x363.png 1024w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/raportari1-300x106.png 300w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/raportari1-768x272.png 768w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/raportari1-150x53.png 150w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/raportari1-696x247.png 696w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/raportari1-1068x379.png 1068w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/raportari1.png 1269w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Vezi toate raport\u0103rile s\u0103pt\u0103m\u00e2nii aici:<\/p>\n\n\n\n<p><a href=\"https:\/\/www.investing.com\/earnings-calendar\">https:\/\/www.investing.com\/earnings-calendar<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Analiza evolu\u021biei principalilor indici<\/strong><\/h4>\n\n\n\n<p>To\u021bi cei 3 indici americani au crescut s\u0103pt\u0103m\u00e2na trecut\u0103:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>S&amp;P 500 (simbol US500\/SPX) a crescut cu <\/strong><strong>1,68%<\/strong><strong>&nbsp;<\/strong><\/li>\n\n\n\n<li><strong>Dow Jones Industrial Average (simbol DJI) a crescut&nbsp; cu <\/strong><strong>1,96%<\/strong><strong>&nbsp;<\/strong><\/li>\n\n\n\n<li><strong>Nasdaq Composite (simbol IXIC) a crescut cu <\/strong><strong>1,73%<\/strong><strong>&nbsp;<\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"784\" height=\"1014\" src=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/SP.png\" alt=\"\" class=\"wp-image-1469\" srcset=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/SP.png 784w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/SP-232x300.png 232w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/SP-768x993.png 768w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/SP-150x194.png 150w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/SP-300x388.png 300w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/SP-696x900.png 696w\" sizes=\"(max-width: 784px) 100vw, 784px\" \/><\/figure>\n\n\n\n<p><strong><em>S&amp;P 500 (US) &#8211; grafic daily&nbsp;<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"784\" height=\"1014\" src=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/DJ.png\" alt=\"\" class=\"wp-image-1471\" srcset=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/DJ.png 784w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/DJ-232x300.png 232w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/DJ-768x993.png 768w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/DJ-150x194.png 150w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/DJ-300x388.png 300w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/DJ-696x900.png 696w\" sizes=\"(max-width: 784px) 100vw, 784px\" \/><\/figure>\n\n\n\n<p><strong><em>DJI (US) &#8211; grafic daily&nbsp;&nbsp;<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"784\" height=\"1010\" src=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/nasdaq.png\" alt=\"\" class=\"wp-image-1473\" srcset=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/nasdaq.png 784w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/nasdaq-233x300.png 233w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/nasdaq-768x989.png 768w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/nasdaq-150x193.png 150w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/nasdaq-300x386.png 300w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/nasdaq-696x897.png 696w\" sizes=\"(max-width: 784px) 100vw, 784px\" \/><\/figure>\n\n\n\n<p><strong><em>IXIC (US) &#8211; grafic daily&nbsp;&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p><em>Sursa graficelor: investing.com&nbsp;<\/em><\/p>\n\n\n\n<p><strong><strong>Indicii americani ram\u00e2n pe trend pozitiv pe termen mediu, peste gap-urile marcate pe grafice cu linii orizontale.<\/strong><\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Evolutii pe sectoare, s\u0103pt\u0103m\u00e2na trecut\u0103 \/ 18-22 Noiembrie<\/strong><\/h4>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXefpO3SSyzCzfB2s_DssKJqAWPnRBVfysh-6jqtsmahZ3aWo_iJz_hHsB0a-g2_-rvdOcEPJVxwBbAoiQ2yevlHr-NhdtDDYLP37_X8eYIhQubIGZtqxA28BSTPUYNPtLn7rNiMYJ_ZKR2GCCtfh7Q?key=miJkJ885_wQX0gPpSaJuY2a9\" alt=\"\"\/><\/figure>\n\n\n\n<p><em>&nbsp;Sursa: Finviz<\/em><\/p>\n\n\n\n<p>O s\u0103pt\u0103m\u00e2n\u0103 \u00een care pia\u021ba a recuperat din plin pierderile de s\u0103pt\u0103m\u00e2na trecut\u0103.<br><strong>Toate sectoarele pe cre\u0219tere!<\/strong><\/p>\n\n\n\n<p>Sectorul <strong>Utilities<\/strong> a \u00eenregistrat performan\u021be superioare, deoarece comentariile din cadrul apelului privind rezultatele NVIDIA au p\u0103rut s\u0103 genereze optimism \u00een ceea ce prive\u0219te cre\u0219terea cererii de energie curat\u0103 generat\u0103 de inteligen\u021ba artificial\u0103.&nbsp;<\/p>\n\n\n\n<p>Sectorul <strong>Communication Services<\/strong>&nbsp; a r\u0103mas \u00een urm\u0103, \u00een parte din cauza sc\u0103derii ac\u021biunilor <strong>Alphabet, compania-mam\u0103 a Google<\/strong>, ca urmare a rapoartelor privind depunerea de c\u0103tre Departamentul de Justi\u021bie a unei propuneri de destr\u0103mare a gigantului de c\u0103utare pe internet.<\/p>\n\n\n\n<p>Departamentul de Justi\u021bie al SUA a propus m\u0103suri drastice \u00eempotriva <strong>Alphabet<\/strong>, \u00een urma constat\u0103rii c\u0103 aceasta a men\u021binut un monopol ilegal pe pia\u021ba motoarelor de c\u0103utare. <strong>Printre remediile sugerate se num\u0103r\u0103 divizarea companiei, inclusiv v\u00e2nzarea browserului Chrome, a sistemului de operare Android \u0219i a platformei de publicitate AdWords.&nbsp;<\/strong><\/p>\n\n\n\n<p>Scopul acestor m\u0103suri ar fi s\u0103 limiteze domina\u021bia Google \u0219i s\u0103 stimuleze concuren\u021ba pe pia\u021b\u0103.<\/p>\n\n\n\n<p>Aceste propuneri vin dup\u0103 ce un judec\u0103tor federal a concluzionat c\u0103 acordurile<strong> Google<\/strong> cu produc\u0103tori precum<strong> Apple<\/strong>, prin care motorul s\u0103u de c\u0103utare era impus implicit pe dispozitive, au creat un avantaj nedrept fa\u021b\u0103 de competitori. M\u0103surile ar reprezenta cea mai semnificativ\u0103 \u00eencercare de divizare a unei companii americane din anii 1980, de la destr\u0103marea AT&amp;T.<\/p>\n\n\n\n<p>Google contest\u0103 aceast\u0103 ini\u021biativ\u0103, sus\u021bin\u00e2nd c\u0103 utilizatorii aleg produsele sale datorit\u0103 calit\u0103\u021bii lor \u0219i c\u0103 m\u0103surile ar d\u0103una consumatorilor. Totu\u0219i, autorit\u0103\u021bile consider\u0103 c\u0103 interven\u021bia este necesar\u0103 pentru a echilibra pia\u021ba.<\/p>\n\n\n\n<p>Decizia final\u0103 a instan\u021bei ar putea fi pronun\u021bat\u0103 p\u00e2n\u0103 \u00een 2025, \u00eens\u0103 se anticipeaz\u0103 c\u0103 procesul va continua prin apeluri ulterioare.<\/p>\n\n\n\n<p><strong>Cre\u0219teri:<\/strong><\/p>\n\n\n\n<p>\u25a0 <strong>Basic materials, <\/strong>cu o cre\u0219tere &nbsp; de +3,37%<\/p>\n\n\n\n<p>\u25a0 <strong>Consumer defensive, <\/strong>cu o cre\u0219tere de +3,26%<\/p>\n\n\n\n<p>\u25a0 <strong>Energy, <\/strong>cu o cre\u0219tere de +3,26%<\/p>\n\n\n\n<p>\u25a0 <strong>Industrials, <\/strong>cu o cre\u0219tere&nbsp; de +3,11%<\/p>\n\n\n\n<p>\u25a0 <strong>Utilities, <\/strong>cu o cre\u0219tere de +2,77%<\/p>\n\n\n\n<p>\u25a0 <strong>Real Estate, <\/strong>cu o cre\u0219tere de +2,43<\/p>\n\n\n\n<p>\u25a0 <strong>Technology, <\/strong>cu o cre\u0219tere de&nbsp; +2,43<\/p>\n\n\n\n<p>\u25a0 <strong>Healthcare, <\/strong>cu o cre\u0219tere&nbsp; de +2,04%<\/p>\n\n\n\n<p>\u25a0 <strong>Financial, <\/strong>cu o cre\u0219tere&nbsp; de +1,75%<\/p>\n\n\n\n<p>\u25a0 <strong>Consumer Cyclical, <\/strong>cu o cre\u0219tere&nbsp; de +1,62%<\/p>\n\n\n\n<p>\u25a0 <strong>Communication Services, <\/strong>cu o cre\u0219tere de +0,16%<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Calendarul s\u0103pt\u0103m\u00e2nii \u00een curs \/ 25-29 Noiembrie<\/strong><\/h4>\n\n\n\n<p><strong>Este o s\u0103pt\u0103m\u00e2n\u0103 scurt\u0103, joi nu se va tranzac\u021biona pentru c\u0103 pie\u021bele sunt \u00eenchise (Thanksgiving Day) iar vineri vor fi deschise numai p\u00e2n\u0103 la ora 19,00 &#8211; ora Rom\u00e2niei.<\/strong><\/p>\n\n\n\n<p><strong>Mai important pentru pie\u021be &#8211; Consumer Confidence, de mar\u021bi, \u0219i PCE (infla\u021bia) de miercuri.<\/strong><\/p>\n\n\n\n<p><strong>MAR\u021aI \/ 26 NOIEMBRIE&nbsp;<\/strong><\/p>\n\n\n\n<p><strong>ORA 16.00&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Consumer Confidence. <\/strong>Exist\u0103 doi indici care m\u0103soar\u0103 \u00eencrederea consumatorilor americani \u00een economie, \u0219i anume <strong>Consumer Sentiment Index <\/strong>(la jum\u0103tatea lunii \u0219i la sf\u00e2r\u0219itul lunii), realizat telefonic de Universitatea din Chicago \u0219i acest <strong>Consumer Confidence<\/strong>, realizat de Conference Board &#8211; un ong care m\u0103soar\u0103 \u0219i Leading Economic Indicator (LEI), despre care s-a vorbit la \u00eenceputul acestui newsletter. Acest sondaj lunar realizat cu ajutorul companiei Nielsen, evalueaz\u0103:<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Condi\u021biile economice actuale.<\/li>\n\n\n\n<li>A\u0219tept\u0103rile pentru urm\u0103toarele \u0219ase luni (venituri, locuri de munc\u0103, economie).<\/li>\n<\/ul>\n\n\n\n<p>Se previzioneaz\u0103 o cre\u0219tere de la 108,7 la 113. deci viziunea este optimist\u0103.<\/p>\n\n\n\n<p><strong>MIERCURI \/ 27 NOIEMBRIE&nbsp;<\/strong><\/p>\n\n\n\n<p><strong>ORA 16.00&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Personal Consumption Expenditures Price Index (PCE Index)- Infla\u021bia.<\/strong>&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong>PCE Index<\/strong> este un indicator esen\u021bial utilizat pentru a m\u0103sura infla\u021bia \u00een Statele Unite. Acesta reflect\u0103 modific\u0103rile \u00een pre\u021burile bunurilor \u0219i serviciilor achizi\u021bionate de gospod\u0103rii \u0219i este considerat mai cuprinz\u0103tor dec\u00e2t alte m\u0103sur\u0103tori ale infla\u021biei, cum ar fi <strong>Indicele Pre\u021burilor de Consum (CPI)<\/strong>. Federal Reserve (Fed) \u00eel folose\u0219te ca principal\u0103 referin\u021b\u0103 pentru stabilirea \u021bintelor de infla\u021bie.<\/p>\n\n\n\n<p>Fed este foarte atent la acest indicator economic, \u00een baza c\u0103ruia \u00ee\u0219i calculaz\u0103&nbsp; posibilele reduceri de dob\u00e2nd\u0103 de referin\u021b\u0103.<\/p>\n\n\n\n<p>Se a\u0219teapt\u0103 o raportare de 0,2% pentru luna Octombrie, la fel ca raportarea anterioar\u0103.<\/p>\n\n\n\n<p>Dar PCE year-to-year, din Octombrie 2023 \u00een Octombrie 2024, se a\u0219teapt\u0103 s\u0103 creasc\u0103 de la 2,1% luna anterioar\u0103 la 2,3% acum. \u021ainta de infla\u021bie pentru anul 2024 a Fed este de 2%.&nbsp;<\/p>\n\n\n\n<p>Dac\u0103 infla\u021bia se inflameaz\u0103 din nou, e posibil ca Fed s\u0103 se g\u00e2ndeasc\u0103 de dou\u0103 ori dac\u0103 va mai t\u0103ia dob\u00e2nda luna viitoare. Sunt a\u0219teptate \u0219i introducerea de tarife pe produsele de import anun\u021bate de Trump, a\u0219a c\u0103 infla\u021bia va cunoa\u0219te, cel pu\u021bin la \u00eenceputul anului viitor, o cre\u0219tere.<\/p>\n\n\n\n<p><strong>ORA 16.00&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Personal Income <\/strong>\u0219i<strong> Personal Spending. <\/strong>Este previzionat\u0103 o raportare sta\u021bionar\u0103 a venitului personal, tot de 0,3% ca \u0219i luna anterioar\u0103 dar o sc\u0103dere a cheltuielilor personale, de la 0,5% la 0,4% pentru luna Octombrie.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Analiza trendurilor principalilor indici bursieri&nbsp;<\/strong><\/h4>\n\n\n\n<p>Iat\u0103 cum au stat lucrurile s\u0103pt\u0103m\u00e2na trecut\u0103 pentru 5 dintre indicii globali:&nbsp;<\/p>\n\n\n\n<p>\u25cf <strong>S&amp;P500, US (simbol US500) <\/strong>a \u00eenregistrat o cre\u0219tere de <strong>1,68%<\/strong> \u00een ultima s\u0103pt\u0103m\u00e2n\u0103;<\/p>\n\n\n\n<p>\u25cf <strong>DAX, Germania (simbol DE40) <\/strong>a \u00eenregistrat o cre\u0219tere de <strong>0,58%<\/strong> &nbsp;\u00een ultima s\u0103pt\u0103m\u00e2n\u0103;&nbsp;<\/p>\n\n\n\n<p>\u25cf&nbsp; <strong>Shanghai, China (SSEC) <\/strong>a \u00eenregistrat o sc\u0103dere de<strong> 1,91%<\/strong> \u00een ultima s\u0103pt\u0103m\u00e2n\u0103;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&nbsp;<strong>Nikkei 225, Japonia (simbol JP225) <\/strong>a \u00eenregistrat o sc\u0103dere de <strong>0,93%<\/strong> \u00een ultima s\u0103pt\u0103m\u00e2n\u0103;&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>\u25cf <strong>Nifty, India (NFTY) <\/strong>a \u00eenregistrat&nbsp; cre\u0219tere de <strong>1,42% <\/strong>&nbsp;\u00een ultima s\u0103pt\u0103m\u00e2n\u0103.<\/p>\n\n\n\n<p><strong>Indicele DAX <\/strong>din Germania a crescut u\u0219or s\u0103pt\u0103m\u00e2na aceasta. Zona 18,900-18,950 reprezinta un suport cheie pe termen scurt.<\/p>\n\n\n\n<p><strong>Indicele Shanghai Composite<\/strong> a reluat scaderile s\u0103pt\u0103m\u00e2na trecut\u0103. Gap-ului la 3,087-3,150 reprezinta un prag cheie.<\/p>\n\n\n\n<p><strong>Indicele din India<\/strong> <strong>Nifty r<\/strong>amane pe trend negativ pe termen scurt \u0219i testeaz\u0103 linia de trend la nivelul de 23,300. O scadere sub acest nivel ar semnala o poten\u021bial\u0103 accelerare a scaderii.<\/p>\n\n\n\n<p><strong>Indicele japonez Nikkei <\/strong>reintr\u0103 pe trend negativ. Revenirea de dup\u0103 pr\u0103bu\u0219irea din luna august pare mai degrab\u0103 corectiv\u0103 dec\u00e2t reluarea trendului cresc\u0103tor.<\/p>\n\n\n\n<p><strong>Vezi graficele de mai jos:&nbsp;<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"784\" height=\"1014\" src=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/dax.png\" alt=\"\" class=\"wp-image-1465\" srcset=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/dax.png 784w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/dax-232x300.png 232w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/dax-768x993.png 768w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/dax-150x194.png 150w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/dax-300x388.png 300w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/dax-696x900.png 696w\" sizes=\"(max-width: 784px) 100vw, 784px\" \/><\/figure>\n\n\n\n<p><strong><em>DAX (Germania) &#8211; grafic daily&nbsp;<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"786\" height=\"1010\" src=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/shanghai.png\" alt=\"\" class=\"wp-image-1463\" srcset=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/shanghai.png 786w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/shanghai-233x300.png 233w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/shanghai-768x987.png 768w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/shanghai-150x193.png 150w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/shanghai-300x385.png 300w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/shanghai-696x894.png 696w\" sizes=\"(max-width: 786px) 100vw, 786px\" \/><\/figure>\n\n\n\n<p><strong><em> <\/em><\/strong><strong><em>Shanghai Composite (China) &#8211; grafic daily<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"784\" height=\"1012\" src=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/nifty.png\" alt=\"\" class=\"wp-image-1461\" srcset=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/nifty.png 784w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/nifty-232x300.png 232w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/nifty-768x991.png 768w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/nifty-150x194.png 150w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/nifty-300x387.png 300w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/nifty-696x898.png 696w\" sizes=\"(max-width: 784px) 100vw, 784px\" \/><\/figure>\n\n\n\n<p><strong><em>Indicele <\/em>NIFTY <\/strong>(<em>I<\/em><strong><em>ndia) &#8211; grafic daily&nbsp; <\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"784\" height=\"1012\" src=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-25-at-12.57.57.png\" alt=\"\" class=\"wp-image-1459\" srcset=\"https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-25-at-12.57.57.png 784w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-25-at-12.57.57-232x300.png 232w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-25-at-12.57.57-768x991.png 768w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-25-at-12.57.57-150x194.png 150w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-25-at-12.57.57-300x387.png 300w, https:\/\/market-monitor.staginghub.net\/wp-content\/uploads\/2024\/11\/Screenshot-2024-11-25-at-12.57.57-696x898.png 696w\" sizes=\"(max-width: 784px) 100vw, 784px\" \/><\/figure>\n\n\n\n<p><strong><em>&nbsp;Nikkei 225 (Japonia) &#8211; grafic daily<\/em><\/strong><\/p>\n\n\n\n<p><strong><em>&nbsp;<\/em><\/strong><strong><em>Sursa investing.com&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<\/em><\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Opinii \u0219i perspective &#8211; ce spun anali\u0219tii&nbsp;<\/strong><\/h4>\n\n\n\n<p><strong>\u25cf <\/strong><strong>MARKET WATCH: CE SEMNALIZEAZ\u0102 PRE\u021aUL PETROLULUI \u0218I AURULUI DESPRE POSIBILA VIITOARE CRE\u0218TERE A INFLA\u021aIEI<\/strong><\/p>\n\n\n\n<p>Anun\u021barea tarif\u0103rii importurilor de c\u0103tre Trump a pus pe jar pe toat\u0103 lumea, deoarece taxarea suplimentar\u0103 a produselor chineze\u0219ti, spre exemplu, cu 60% va duce la cre\u0219terea pre\u021burilor la raft, deci \u0219i a infla\u021biei. Exact lucrul de care se tem cel mai tare americanii.<\/p>\n\n\n\n<p>\u0218i ar fi foarte surprinz\u0103tor s\u0103 vedem urm\u0103toarea administra\u021bie adopt\u00e2nd politici extrem de infla\u021bioniste, \u00een parte pentru c\u0103 toate indiciile arat\u0103 c\u0103 unul dintre principalii factori determinan\u021bi ai rezultatului alegerilor a fost \u00eengrijorarea electoratului american cu privire la cre\u0219terile cumulative ale pre\u021burilor din ultimii patru ani &#8211; cred anali\u0219tii economici intervieva\u021bi de Market Watch.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.marketwatch.com\/story\/will-inflation-stick-around-what-oil-gold-and-stocks-are-signaling-about-rising-prices-6c3a9351?mod=home-page\">Will-inflation-stick-around-what-oil-gold-and-stocks-are-signaling-about-rising-prices<\/a><\/p>\n\n\n\n<p><strong>\u25cf<\/strong> <strong>YAHOOFINANCE.COM: O INTERESANT\u0102 PARALEL\u0102 \u00ceNTRE EVOLU\u021aIILE INDICILOR \u00ceN TABERELE DEMOCRATE \u0218I REPUBLICANE<\/strong><\/p>\n\n\n\n<p>Trump \u00eensu\u0219i este o necunoscut\u0103 \u00een perspectiva viitoare a economiei. Planurile sale de a impune noi tarife la importuri \u0219i de a expulza milioane de migran\u021bi care muncesc pentru persoane cu venituri mici ar putea reduce cre\u0219terea economic\u0103 \u0219i ar putea \u00eempinge infla\u021bia mai sus dec\u00e2t ar fi \u00een mod normal. Trump nu a dezv\u0103luit \u00eenc\u0103 c\u00e2t de agresiv va urm\u0103ri oricare dintre aceste obiective, dar pie\u021bele se preg\u0103tesc pentru un impact modest.<\/p>\n\n\n\n<p><a href=\"https:\/\/finance.yahoo.com\/news\/this-week-in-bidenomics-the-republican-economy-takes-off-190718096.html\">This-week-in-bidenomics-the-republican-economy-takes-off<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><em>La final, dup\u0103 ce ai fost pus la curent cu informa\u021biile importante din ultima s\u0103pt\u0103m\u00e2n\u0103,<\/em><em> <\/em><em>am ajuns \u0219i la <\/em><strong><em>capitolul s\u0103pt\u0103m\u00e2nal de educa\u021bie<\/em><\/strong><em>.<\/em><em>&nbsp;<\/em><\/p>\n\n\n\n<p><em>Vei primi informa\u021bii peste nivelul cursurilor clasice, cu<\/em><em> <\/em><em>analize pe cazuri concrete, de analiz\u0103 fundamental\u0103 \u0219i analiz\u0103 tehnic\u0103, ce te vor ajuta s\u0103 \u00een\u021belegi mai bine pia\u021ba.<\/em><em>&nbsp;<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading\"><strong><em>SEC\u021aIUNEA DE EDUCA\u021aIE&nbsp;<\/em><\/strong><\/h4>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>ANALIZA FUNDAMENTAL\u0102.&nbsp;<\/strong><\/h4>\n\n\n\n<p><strong>Indicatori financiari&nbsp; &#8211; marjele de profit<\/strong><\/p>\n\n\n\n<p>Unul din criteriile esentiale atunci cand hotaram sa investim \u00eentr-o companie este ca ea s\u0103 fie profitabil\u0103. \u00cens\u0103 exista mai multe tipuri de profit pe care o companie \u00eel poate prezenta \u00een situa\u021biile financiare : profit brut, profit operational, profit net.<\/p>\n\n\n\n<p>\u00cen func\u021bie de tipul de profit, anumi\u021bi indicatori sun calcula\u021bi pentru a evalua o companie. Vom analiza \u00een continuare ace\u0219ti indicatori numi\u021bi marjele de profit.<\/p>\n\n\n\n<p><strong>1.<\/strong><strong>&nbsp; &nbsp; &nbsp; <\/strong><strong>Marja de profit brut sau marja brut\u0103 (gross margin)<\/strong><\/p>\n\n\n\n<p>Formula de calcul pentru marja bruta este urm\u0103toarea :<\/p>\n\n\n\n<p><strong>Marja bruta = (Venituri \u2013 costul bunurilor vandute) \/ Venituri<\/strong><\/p>\n\n\n\n<p>Pentru a exemplifica modul de calcul, am luat ca exemplu compania NVIDIA (simbol NVDA) si vom calcula pentru aceasta companie marja bruta.&nbsp;<\/p>\n\n\n\n<p>Pentru calcul avem nevoie de valorile de mai sus pentru ultimele 12 luni (TTM = trailing twelve months) pe care \u00eei putem ob\u021bine deja calculati pe site-ul Yahoo finance (cifrele sunt exprimate \u00een mii USD) :<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXfHp32Fn-6V20dTzK_GIdL5qx7isXeiZrGUk7B-x-qKOEdjMPUNqqGnDUHIHLY9efRJErbFfbVHbP8Qo0FvB1eVcPxgLDAosjIooMxp5-gcRu9X1UmJUW8G7VF0PqDKdGy8G3PwAGGneOf4xzAiQk4?key=miJkJ885_wQX0gPpSaJuY2a9\" alt=\"\"\/><\/figure>\n\n\n\n<p>Sursa: Yahoo finance (<a href=\"https:\/\/finance.yahoo.com\/quote\/NVDA\/financials\/\">NVIDIA Corporation (NVDA) Income Statement &#8211; Yahoo Finance<\/a>)<\/p>\n\n\n\n<p>Astfel, marja bruta =(96.307.000* \u2013 23.137.000*)\/ 96.307.000*= 73.170.000\/ 96.307.000= 0,7598<\/p>\n\n\n\n<p><em>*Cifrele sunt exprimate \u00een mii de dolari americani insa putem simplifica fractia cu 1.000 \u0219i atunci nu este nevoie sa mai adaugam 000.<\/em><\/p>\n\n\n\n<p>Marja bruta se exprim\u0103 \u00een procente \u0219i anume 75,98%.<\/p>\n\n\n\n<p><strong>2.<\/strong><strong>&nbsp; &nbsp; &nbsp; <\/strong><strong>Marja de profit operational sau marja opera\u021bional\u0103 (operating margin)<\/strong><\/p>\n\n\n\n<p>Formula de calcul pentru marja opera\u021bional\u0103 este urm\u0103toarea:<\/p>\n\n\n\n<p><strong>Marja opera\u021bional\u0103 = Profit opera\u021bional \/ Venituri<\/strong><\/p>\n\n\n\n<p>Pentru a calcula marja opera\u021bional\u0103 pentru compania NVIDIA avem nevoie de urm\u0103toarele valori din situa\u021biile financiare pe care le-am marcat \u00een chenar ro\u0219u mai jos:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXc2TkjKNjx8mUbyIFewXwdE3jufUn9ZwxF7-E4ZMZckB2W9gJcBW6oq3ZOcJMM9hF5Happ53O8KHI4zVWlPP6nIFgkqnemxi3j8zuaSFTIzIK8vv9yxh8zZcF7DaTnutuJbt46tnGaq8AmmcDZ6ZIE?key=miJkJ885_wQX0gPpSaJuY2a9\" alt=\"\"\/><\/figure>\n\n\n\n<p>Sursa: Yahoo finance (<a href=\"https:\/\/finance.yahoo.com\/quote\/NVDA\/financials\/\">NVIDIA Corporation (NVDA) Income Statement &#8211; Yahoo Finance<\/a>)<\/p>\n\n\n\n<p>Marja operationala = 59.582.000\/ 96.307.000 = 0,6187<\/p>\n\n\n\n<p>Marja opera\u021bional\u0103 obtinuta pentru compania NVIDIA pentru ultimele 12 luni este de 61,87%.<\/p>\n\n\n\n<p><strong>3.<\/strong><strong>&nbsp; &nbsp; &nbsp; <\/strong><strong>Marja de profit net sau marja net\u0103 (net margin)<\/strong><\/p>\n\n\n\n<p>Formula de calcul pentru marja neta este urm\u0103toarea:<\/p>\n\n\n\n<p><strong>Marja neta = Profit net \/ Venituri<\/strong><\/p>\n\n\n\n<p>Pentru calculul marjei nete pentru compania NVIDIA avem nevoie de profitul net \u0219i de venituri pe care le-am marcat \u00een chenar ro\u0219u mai jos :&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXf_zwWDZm4uKiiMmp809vywn3mlKu-9V2pnxJiYETd0cCLdc4wxbD005Zx9W8hGnKECHrPcJKt0yiwO2M5sJFnrwgG2Mw3tYvj9p0Xj6H7M-GkFojO3sEkdzPHuGv6TsFOpZouBjx0EH6YIhzFGXpo?key=miJkJ885_wQX0gPpSaJuY2a9\" alt=\"\"\/><\/figure>\n\n\n\n<p>Sursa: Yahoo finance (<a href=\"https:\/\/finance.yahoo.com\/quote\/NVDA\/financials\/\">NVIDIA Corporation (NVDA) Income Statement &#8211; Yahoo Finance<\/a>)<\/p>\n\n\n\n<p>Marja neta = 53.008.000\/ 96.307.000 = 0,5504<\/p>\n\n\n\n<p>Astfel, marja neta obtinuta pentru compania NVIDIA pentru ultimele 12 luni este de 55,04%.<\/p>\n\n\n\n<p>\u00cen afara de calculul acestor indicatori, este necesar sa comparam compania si cu competitorii ei din sectorul respectiv.<\/p>\n\n\n\n<p>Am selectat mai jos top 10 companii din sectorul Tehnologie \u2013 industria Semiconductori \u0219i le-am ordonat descresc\u0103tor, dup\u0103 capitalizare:&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXcdV_kETP6qtBOHGQORzGQlzWYrIPbHO4XPdHrucAr6fJrl4_KVuyuV5Yurx0sikITxba-xeChmRJNj2fv_0tZfMTY2VYF1qpu5Vqm4azLJNp-SjHk8dHUTTUUcI6nU14avM9DPy0UV2AhaVOUAa7w?key=miJkJ885_wQX0gPpSaJuY2a9\" alt=\"\"\/><\/figure>\n\n\n\n<p>Sursa: Finviz<\/p>\n\n\n\n<p>Putem observa imediat ca NVIDIA este compania cu marjele cele mai ridicate din acest sector fapt care confirm\u0103 cererea mare pentru aceasta companie.<\/p>\n\n\n\n<p>&nbsp;De asemenea, o cale rapid\u0103 de a compara \u00een timp evolutia veniturilor, a profitului net \u0219i a marjelor de profit net este folosind platforma Tradingview. Aici g\u0103sim grafice anuale \u0219i trimestriale pentru ace\u0219ti indicatori:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXcwA3mPSf_HxN4aNP2Ba58jfE-MAze0pMf41a3jRfK3IiZg0fARbvW-UtjadVXySx8gdlySMsiJik6Duzp2tTV-bREE56bXvRJG5OpoGP_AQkGewuvcYChChSmaqX79yrZbtnYkek6wTElQx2MFcrc?key=miJkJ885_wQX0gPpSaJuY2a9\" alt=\"\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXeKH_vHWbiKKK1Vn2bwLCMqEmoByDZrgKROq4iUCU8PqdacUVlx17t3nFjA9Q-VXnbXovnVUjQ82v5O-np6uHX6axU4v7EvHq4qQmZ7l7dwwlddZ6Jz-IdhvAtebSaPLBC5nysAELlIsacA7Do294k?key=miJkJ885_wQX0gPpSaJuY2a9\" alt=\"\"\/><\/figure>\n\n\n\n<p><em>Sursa graficelor: Tradingview<\/em><\/p>\n\n\n\n<p>Observam din aceste grafice cre\u0219terea veniturilor \u0219i a profitului din ultimele 4 trimestre. De fapt marja profitului net <strong>nu a coborat sub 55% \u00een ultimele 4 trimestre, ceea ce arat\u0103 ca ne putem a\u0219tepta la o marja anuala pentru 2024 in jurul aceleia\u0219i valori, <\/strong>in cre\u0219tere fa\u021b\u0103 de 2023 cand s-a situat la valoarea de 48,85%.<\/p>\n\n\n\n<p><strong>Concluzie : marjele de profit sunt un indicator important \u00een analiza profitabilitatii unei companii. Ele trebuiesc \u00eens\u0103 analizate \u00een timp precum \u0219i \u00een compara\u021bie cu ceilal\u021bi competitori din aceea\u0219i industrie. De asemenea, trebuie avut \u00een vedere c\u0103 venitul, profitul \u0219i implicit marjele de profit pot fi ciclice pentru unele sectoare.<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Rezumat final al Newsletter-ului s\u0103pt\u0103m\u00e2nal Nr. 14<\/strong><\/h4>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>De re\u021binut:&nbsp;<\/strong><\/h4>\n\n\n\n<p>Un rezumat al celor mai importante trei lucruri prezentate ast\u0103zi \u00een newsletter, pe care ar trebui sa le iei cu tine:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>S\u0102PT\u0102M\u00c2N\u0102 SCURT\u0102 DE TRANZAC\u021aIONARE&nbsp; <\/strong>Joi va fi \u00eenchis\u0103 pia\u021ba pentru Thanksgiving iar vineri va avea zi scurt\u0103, tranzac\u021biile \u00eencheindu-se la ora 19,00 &#8211; ora Rom\u00e2niei.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>UN INDICE IMPORTANT A CUNOSCUT SC\u0102DERI<\/strong> &nbsp;<strong><em>Leading Economic Indicators (LEI)<\/em><\/strong> &#8211; un indice complex generat de Conference Board, care indic\u0103 \u00een avans direc\u021bia economiei americane, a fost dat publicit\u0103\u021bii joia trecut\u0103.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>LEI a sc\u0103zut cu 0,4% \u00een octombrie 2024, p\u00e2n\u0103 la 99,5 (2016=100), dup\u0103 o sc\u0103dere de 0,3% \u00een septembrie (revizuit\u0103 \u00een cre\u0219tere de la o sc\u0103dere de 0,5%).&nbsp;<\/p>\n\n\n\n<p><strong>\u25cf <\/strong><strong>&nbsp;<\/strong><strong>INDICELE INFLA\u021aIEI VA FI RAPORTAT MIERCURI<\/strong><strong> <\/strong>Mai important pentru pie\u021be &#8211; Consumer Confidence va fi raportat mar\u021bi, iar indicele de infla\u021bie PCE Index &#8211; foarte important pentru politica Fed, va fi dat publicit\u0103\u021bii miercuri.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"has-text-align-left\"><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;O s\u0103pt\u0103m\u00e2n\u0103<\/strong><strong> <\/strong><strong>profitabil\u0103!&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong>&nbsp;Urm\u0103toarea edi\u021bie &#8211; 2 decembrie<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>25 noiembrie 2024 Bun venit venit la edi\u021bia s\u0103pt\u0103m\u00e2nal\u0103 a newsletter-ului nostru despre pie\u021bele interna\u021bionale.&nbsp; Acest material este structurat pe 3 categorii de informa\u021bii, pentru o lectur\u0103 mai facil\u0103 \u0219i urm\u0103rirea cursiv\u0103: Acest newsletter are scop pur informativ \u0219i educativ, prin urmare nu con\u021bine recomand\u0103ri de investi\u021bii.&nbsp; IMPORTANT: Pie\u021bele vor fi \u00eenchise joi, de Ziua [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":{"0":"post-1444","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-newsletter-ro"},"acf":[],"_links":{"self":[{"href":"https:\/\/market-monitor.staginghub.net\/ro\/wp-json\/wp\/v2\/posts\/1444"}],"collection":[{"href":"https:\/\/market-monitor.staginghub.net\/ro\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/market-monitor.staginghub.net\/ro\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/market-monitor.staginghub.net\/ro\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/market-monitor.staginghub.net\/ro\/wp-json\/wp\/v2\/comments?post=1444"}],"version-history":[{"count":4,"href":"https:\/\/market-monitor.staginghub.net\/ro\/wp-json\/wp\/v2\/posts\/1444\/revisions"}],"predecessor-version":[{"id":1476,"href":"https:\/\/market-monitor.staginghub.net\/ro\/wp-json\/wp\/v2\/posts\/1444\/revisions\/1476"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/market-monitor.staginghub.net\/ro\/wp-json\/wp\/v2\/media\/1478"}],"wp:attachment":[{"href":"https:\/\/market-monitor.staginghub.net\/ro\/wp-json\/wp\/v2\/media?parent=1444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/market-monitor.staginghub.net\/ro\/wp-json\/wp\/v2\/categories?post=1444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/market-monitor.staginghub.net\/ro\/wp-json\/wp\/v2\/tags?post=1444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}