19 Июл 2018

Daily Market View

Daily Market View

Thursday, July 19, 2018
          U.S Stock Market

 

DJIA S & P 500 NASDAQ
25155 2815.75 7402.75
+0.32% +0.22% -0.01%

U.S stocks mostly held ground in positive territory after an anecdotal account of business conditions in the Fed’s districts painted a picture of a tightening labor market and one attentive to escalating trade spats between the U.S and its global trade partners. The S&P 500 index saw a tentative gain of 4 points, or 0.1%, with only three of its 11 main sectors trading higher. Financials and industrials were leading gains, both by at least 1%, while consumer-staples names led losses, down 0.7%, at last check. The NASDAQ meanwhile, traded near break-even levels, a day after notching its third all-time high of the month. The Dow advanced by 65 points, or 0.3%. If the blue-chip benchmark closes up a fifth day in a row in the green, it would mark its longest winning period since the eight-day period ended May 14. The Fed’s Beige Book revealed a domestic strong economy that was rapidly expanding but one running out of room to grow much faster as shortages of skilled workers and rising costs of raw materials risked impeding another leg further for the economy.

 

Major Economic Releases for Today
Period Event GMT Forecast Previous

2Q

Australia NAB Business Confidence 01:30   7

jun

Australia Employment Change 01:30 16.5k 12.0k

jun

Australia Unemployment Rate 01:30 5.4% 5.4%

jun

U.K Retail Sales Ex Auto Fuel (YoY) 08:30 3.7% 4.4%

jul

U.S Initial Jobless Claims 12:30 221k 214k

jul

U.S Continuing Claims 12:30 1725k 1739k

jul

U.S Philadelphia Fed Business Outlook 12:30 21.5 19.9

jun

U.S Leading Index 14:00 0.5% 0.2%

jun

Japan National Consumer Price Index (YoY) 23:30 0.8% 0.7%
Dow Jones Industrial Average

The Dow Jones Industrial Average added 0.32% to hit a new 1-month high yesterday. The best performers of the session on the Dow Jones Industrial Average were UnitedHealth Group Incorporated, which rose 2.05% or 5.13 points to trade at 255.42 at the close. Meanwhile, American Express Company added 1.81% or 1.83 points to end at 102.98 and Caterpillar Inc. was up 1.56% or 2.17 points to 141.12 in late trade. The worst performers of the session were McDonald’s Corporation, which fell 1.14% or 1.82 points to trade at 157.93 at the close. Nike Inc. declined 1.14% or 0.88 points to end at 76.59 and Johnson & Johnson was down 1.01% or 1.31 points to 127.80.

 

NASDAQ 100

The tech heavy NASDAQ index lost 0.01%. The top performers on the NASDAQ Composite were Precipio Inc. which rose 30.90% to 0.4778, Staffing 360 Solutions Inc. which was up 29.24% to settle at 3.050 and Vermillion Inc. which gained 22.39% to close at 0.710. The worst performers were CTi Biopharma Corp which was down 43.36% to 2.260 in late trade, China Customer Relations Centers Inc. which lost 22.07% to settle at 8.79 and Medigus Ltd ADR which was down 16.33% to 3.690 at the close.

Oil

Oil prices ended higher yesterday, finding support from a bigger-than-expected decline in gasoline stocks, despite a surprise climb in domestic crude supplies and record weekly production. On the New York Mercantile Exchange, August West Texas Intermediate crude rose 1%, or 68 cents, to settle at $68.76 a barrel after an intraday low of $67.04. The Energy Information Administration reported Wednesday that domestic crude supplies climbed 5.8 million barrels for the week ended July 13. Analysts surveyed by S&P Global Platts had forecast a fall of 3 million barrels, while the American Petroleum Institute on Tuesday reported a rise of 629,000 barrels. The report also showed that domestic production climbed by 100,000 barrels a day to 11 million barrels a day. That’s the highest weekly level on record, based on EIA data dating back to at least 1985. Gasoline stockpiles declined by 3.2 million barrels for the week.

 
Precious and Base Metals

Gold prices steadied yesterday as the U.S dollar eased off a three-week high, following an earlier drop in bullion to a one-year low as bullish comments from U.S Federal Reserve Chair Jerome Powell boosted the greenback. The dollar came off a little bit later in trade, causing gold to go into positive territory, but I think it’s temporary. Gold has shed more than 10 percent since touching a peak of $1,365.23 an ounce in mid-April, weighed down by a stronger dollar and rising U.S interest rates. Spot gold was flat at $1,227.26 per ounce, after touching its weakest since July 14, 2017 at $1,220.81. U.S gold futures for August delivery settled up 60 cents, or 0.1 percent, at $1,227.90 per ounce. In this environment where we also see oil prices falling, and so less concern from investors about rising inflation, that’s another negative for the gold price. Gold is regarded as a hedge against inflation. The U.S. dollar slightly eased off a three-week high. It earlier rose across the board, after Powell gave an upbeat outlook for the U.S economy. Higher interest rates tend to boost the dollar and push up bond yields, making greenback-denominated gold more expensive for holders of other currencies and denting its appeal. Russia, which dropped off the list of U.S. Treasuries holders in May, may have increased gold purchases as a result of recent sanctions imposed by the United States on Russia, but that has yet to help bullion prices. Not so much of that is going to turn the market around. Longer-term, some analysts expect dollar strength to wane and possible geopolitical concerns and the heavy weight of gold bearish positions to help bullion recover. With the U.S dollar expected to eventually roll over and upside pressure to U.S bond yields easing, medium- to longer-term buying opportunities for gold should open up. Meanwhile, silver dipped 0.1 percent at $15.56 an ounce, after touching $15.38, its lowest since July 10 of last year. Platinum lost 0.2 percent at $814.20 an ounce, after earlier hitting a two-week low of $798.14.

 

 

 

 

Traditional Agriculture

Soybean futures touched their highest prices in about a week in yesterday’s trading session, as agricultural markets stabilized following recent drops to contract lows.

 

Futures Settlement Price Tuesday, July 18, 2018
Instrument Contract Open High Low Settlement Net Change
DJIA DJM18 25117 25193 25079 25155 51
S & P 500 SPM18 2812.75 2818 2806.75 2815.75 4.5
NASDAQ 100 NDM18 7424.25 7437.25 7381.5 7402.75 -17.75
Hang Seng HSH18 28403 28404 28008 28076 -112
Nikkei 225 NKH18 22865 22925 22775 22810 90
FTSE 100 FTH18 7598.5 7624.5 7586 7611.5 17.5
Gold GCJ18 1227.6 1228.8 1220.6 1227.2 0
Silver SIK18 1558/.5 1561 1540 1556 -1
Copper HGK18 274.35 277.05 271.55 276.4 2
Crude Oil CLK18 67.6 69.03 67.02 68.95 1.39
Wheat WK18 500.5 504.5 493.75 494.5 -3.5
Soybeans SK18 840.5 847 834.25 841.75 2.75
Corn CK18 346.5 348.5 345.75 346.75 1

 

 

Daily Swings  (The Pivot Levels)
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2 R3
DJM18 24978 25028 25092 25142 25206 25256 25320
SPM18 2797.75 2802.25 2809.00 2813.50 2820.25 2824.75 2831.50
NDM18 7321.33 7351.42 7377.08 7407.17 7432.83 7462.92 7488.58
HSH18 27525 27767 27921 28163 28317 28559 28713
NKH18 22598 22687 22748 22837 22898 22987 23048
FTH18 7551.67 7568.83 7590.17 7607.33 7628.67 7645.83 7667.17
GCJ18 1214.07 1217.33 1222.27 1225.53 1230.47 1233.73 1238.67
SIK18 1522.67 1531.33 1543.67 1552.33 1564.67 1573.33 1585.67
HGK18 267.45 269.50 272.95 275.00 278.45 280.50 283.95
CLK18 65.63 66.32 67.64 68.33 69.65 70.34 71.66
WK18 479.92 486.83 490.67 497.58 501.42 508.33 512.17
SK18 822.25 828.25 835.00 841.00 847.75 853.75 860.50
CK18 342.75 344.25 345.50 347.00 348.25 349.75 351.00

 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.

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