16 Июл 2018

  Daily Market View

   

Daily Market View

Monday, July 16, 2018
          U.S Stock Market

 

DJIA S & P 500 NASDAQ
25002 2803.00 7392.00
+0.38% +0.11% +0.03%

The benchmark S&P 500 index hit a more than five-month high on Friday on gains in industrial stocks and energy companies, while the safe-haven Dollar flattened after touching a two-week high. Gold slipped to seven-month lows and Treasury prices gained after the Federal Reserve reinforced views of strong U.S. economic growth in a report to Congress, reinforcing expectations of higher interest rates. The U.S. central bank reiterated that it “expects that further gradual increases” in interest rates would be appropriate given “solid” growth. An absence of rhetoric about a U.S-China trade war helped industrial stocks, as did remarks on Thursday from U.S. Treasury Secretary Steven Mnuchin, who said that the U.S and China might reopen trade talks. Despite the ominous headlines about a trade war with China, we’re comfortable with U.S. equities at current prices amid favorable macro trends and surging earnings growth. The Dow rose 94.52 points, or 0.38 percent, to 25,019.41, the S&P 500 gained 3.02 points, or 0.11 percent and the NASDAQ added 2.06 points, or 0.03 percent.

 

Major Economic Releases for Today
Period Event GMT Forecast Previous

jun

China Surveyed Jobless Rate 02:00   4.8%

2Q

China Gross Domestic Product (YoY) 02:00 6.7% 6.8%

jun

China Retail Sales (YoY) 02:00 8.8% 8.5%

may

Euro-Zone Trade Balance (euros) 09:00 17.6b 17.6b

jul

U.S Empire Manufacturing 12:30 21 25

jun

U.S Retail Sales Advance (MoM) 12:30 0.5% 0.8%

jun

Canada Existing Home Sales (MoM) 13:00 1.7% -0.1%

jun

New Zealand REINZ House Sales (YoY) 21:00   1.3%

2Q

New Zealand Consumer Price Index (YoY) 22:45 1.6% 1.1%
Dow Jones Industrial Average

The Dow Jones Industrial Average rose 0.38%. The best performers of the session on the Dow Jones Industrial Average were United Technologies Corporation, which rose 1.70% or 2.16 points to trade at 129.51 at the close. Meanwhile, Walt Disney Company added 1.61% or 1.74 points to end at 109.99 and Boeing Co was up 1.39% or 4.80 points to 350.83 in late trade. The worst performers of the session were Cisco Systems Inc., which fell 4.13% or 1.80 points to trade at 41.78 at the close. Johnson & Johnson declined 1.44% or 1.84 points to end at 125.92 and American Express Company was down 0.66% or 0.67 points to 100.48.

 

 

NASDAQ 100

The tech heavy NASDAQ index climbed 0.03%. The top performers on the NASDAQ Composite were ShiftPixy Inc. which rose 68.61% to 4.62, SenesTech Inc. which was up 20.74% to settle at 1.63 and Galmed Pharmaceuticals Ltd which gained 19.34% to close at 15.240. The worst performers were Auris Medical Holding AG which was down 47.14% to 0.296 in late trade, Izea Inc. which lost 26.17% to settle at 1.8900 and Helios and Matheson Analytics Inc. which was down 18.03% to 0.150 at the close.

Oil

Oil prices rose about 1 percent on Friday as strike actions in Norway and Iraq hit supplies, but futures were set for a second straight week of decline after Libyan ports reopened and on the view that Iran might still export some crude despite U.S. sanctions. Brent crude rose 88 cents to settle at $75.33 a barrel, a 1.18 percent gain. The global benchmark fell about 2.7 percent for the week. West Texas Intermediate (WTI) crude futures rose 68 cents to settle at $71.01 a barrel, but lost about 3.9 percent this week. The market pared gains late in the session on a Bloomberg report that the Trump administration is actively considering tapping in to the country’s Strategic Petroleum Reserve, which would add supply to the market. The United States holds a reserve of about 660 million barrels, enough for about three or four months of supply. Hundreds of workers on Norwegian offshore oil and gas rigs went on strike on Tuesday after rejecting a proposed wage deal.

 
Precious and Base Metals

Gold prices were muted on Friday, stuck in a tight trading range, as the dollar extended rally from the previous session when strong U.S inflation data and trade war concerns boosted demand for the greenback. Spot gold was down 0.1 percent at $1,245.54 an ounce. For the week, the metal was down 0.7 percent. The dollar has been a prime mover of gold prices. Market sentiments have been largely positive on the greenback as investors pivoted from the safe haven asset despite rising geopolitical risks. The dollar was buoyant near a 10-day peak versus a basket of currencies on Friday, supported by Treasury yields that edged higher on expectations the U.S. inflation rate will rise. U.S. consumer price data on Thursday showed a steady buildup of inflation that could keep the Federal Reserve on a path of gradual interest rate increases. A stronger dollar and higher U.S. rates reduce demand for non-interest bearing gold as the metal becomes more expensive for holders of other currencies. Elsewhere, the European Central Bank will keep rates at a record low for as long as needed to raise inflation, minutes of the bank’s latest meeting showed. Meanwhile, Most Asian share markets rose on Friday, but China’s markets wobbled as investors braced for the impact of broadening, tit-for-tat Chinese-U.S tariffs. The United States and China could reopen talks on trade but only if Beijing is willing to make significant changes, U.S. Treasury Secretary Steven Mnuchin said on Thursday. The trade war issue is still creating a lot of uncertainty. If the situation continues and we’re not seeing any real movements in gold prices because of it, we might see prices actually move lower. During times of uncertainty gold prices can receive a boost as the metal is widely considered a safe-haven asset but bullion has failed to benefit from recent trade disputes. Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, dropped 0.48 percent to 795.19 tonnes on Thursday.

 

 

Traditional Agricultures

Soybean futures slid to fresh lows on Friday and the most-active contract closed at the lowest in nearly a decade after a government report reinforced concerns that the trade dispute with China will dent exports and lead to a build-up in stocks.

 

 

 

Futures Settlement Price Friday, July 13, 2018
Instrument Contract Open High Low Settlement Net Change
DJIA DJM18 24902 25026 24867 25002 110
S & P 500 SPM18 2798.5 2807.25 2793.25 2803 4.5
NASDAQ 100 NDM18 7381.75 7413.5 7367 7392 9.75
Hang Seng HSH18 28739 28763 28473 28554 67
Nikkei 225 NKH18 22365 22670 22360 22600 395
FTSE 100 FTH18 7625 7655 7595 7607 -3.5
Gold GCJ18 1246.9 1248.2 1236 1241 -6.4
Silver SIK18 1596.5 1600.5 1569 1580 -16.5
Copper HGK18 277.65 278.85 274.95 277.55 -0.1
Crude Oil CLK18 70.34 71.62 69.8 71 0.69
Wheat WK18 483.5 497.25 481 495.75 12
Soybeans SK18 835.5 837 811.25 818 -14.75
Corn CK18 345.25 346.25 338.75 340.5 -4.75

 

 

Daily Swings  (The Pivot Levels)
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2
DJM18 24745 24806 24904 24965 25063 25124 25222
SPM18 2781.08 2787.17 2795.08 2801.17 2809.08 2815.17 2823.08
NDM18 7321.67 7344.33 7368.17 7390.83 7414.67 7437.33 7461.17
HSH18 28140 28307 28430 28597 28720 28887 29010
NKH18 22107 22233 22417 22543 22727 22853 23037
FTH18 7523.00 7559.00 7583.00 7619.00 7643.00 7679.00 7703.00
GCJ18 1223.07 1229.53 1235.27 1241.73 1247.47 1253.93 1259.67
SIK18 1534.33 1551.67 1565.83 1583.17 1597.33 1614.67 1628.83
HGK18 271.48 273.22 275.38 277.12 279.28 281.02 283.18
CLK18 68.17 68.99 69.99 70.81 71.81 72.63 73.63
WK18 469.17 475.08 485.42 491.33 501.67 507.58 517.92
SK18 781.42 796.33 807.17 822.08 832.92 847.83 858.67
CK18 329.92 334.33 337.42 341.83 344.92 349.33 352.42

 Source: – News & Quotes (Courtesy:  Reuters)                                                                    

Disclaimer

This information has been prepared for information only and does not constitute an offer or commitment. This information does not constitute investment advice as defined by the rules of the FCA.

The firm or its staff members may trade on their own account and may from time to time hold or act as market makers in investments mentioned in this document. Please note that the firm makes no warranty, expressed or implied, as to the accuracy or completeness of the information and opinions herein. All parties are advised to seek independent professional advice as to the suitability of any products and to their tax, accounting, legal or regulatory implications. City Credit Capital (UK) Ltd is authorized and regulated by the Financial Conduct Authority, reg 232015.