23 Июл 2018

Daily  Market View

       

 Daily  Market View

 Monday, July 23, 2018
          U.S Stock Market

 

DJIA S & P 500 NASDAQ
25026 2801.00 7358.75
-0.03% -0.09% -0.07%

U.S stock index futures fell on Friday after President Donald Trump toughened his stance against China and said he was ready to impose levies on $500 billion worth of goods from the Asian nation. His comments on tariffs, which followed the United States and China imposing tariffs on $34 billion worth of each other’s goods this month, worried investors already grappling with the impact of a strengthening dollar on corporate results. German Chancellor Angela Merkel also said on Friday that U.S. tariffs on imported cars would be against WTO rules and that the European Union was looking at countermeasures. The latest round of U.S. tariffs on $200 billion worth of Chinese goods, held up for now by a formal public comment period, could impact Apple Inc’s watches, several Fitbit activity trackers and connected speakers from Sonos. Providing support was Microsoft, whose shares jumped 3.7 percent in premarket trading after its profit and revenue beat estimates on strong performance of its Azure cloud computing services business.

 

 

 

Major Economic Releases for Today
Period Event GMT Forecast Previous

 

BOJ Outright Bond Purchase 3~5 Years 01:10    

jun

Switzerland Money Supply M3 (YoY) 07:00   2.9%

jul

Switzerland Domestic Sight Deposits 08:00    

may

Canada Wholesale Trade Sales (MoM) 12:30   0.1%

jun

U.S Chicago Fed Nat Activity Index 12:30   -0.15

may

Mexico Economic Activity IGAE (YoY) 13:00   4.53%

jul

Euro-Zone Consumer Confidence 14:00   -0.5

jun

U.S Existing Home Sales (MoM) 14:00 -0.2% -0.4%

 

U.S. to sell 6-Month Bills 15:30    
Dow Jones Industrial Average

The Dow Jones Industrial Average declined 0.03% on Friday. The best performers of the session on the Dow Jones Industrial Average were Microsoft Corporation, which rose 1.79% or 1.87 points to trade at 106.27 at the close. Meanwhile, JPMorgan Chase & Co added 1.26% or 1.39 points to end at 111.28 and Goldman Sachs Group Inc. was up 0.90% or 2.06 points to 231.69 in late trade. The worst performers of the session were International Business Machines, which fell 1.94% or 2.89 points to trade at 146.35 at the close. Caterpillar Inc. declined 1.86% or 2.60 points to end at 136.82 and Cisco Systems Inc. was down 0.92% or 0.39 points to 42.01.

 

 

NASDAQ 100

The tech heavy NASDAQ index lost 0.07%. The top performers on the NASDAQ Composite were Rewalk Robotics Ltd which rose 73.64% to 1.25, Aralez Pharmaceuticals Inc. which was up 25.46% to settle at 0.31 and SAExploration Holdings Inc. which gained 19.41% to close at 2.030. The worst performers were Zynerba Pharmaceuticals Inc. which was down 24.09% to 7.91 in late trade, FTD Companies Inc. which lost 19.47% to settle at 3.64 and Diversified Restaurant Holdings Inc. which was down 16.53% to 1.010 at the close.

Oil

Oil prices rose on Friday as a weakening dollar and lower expected August crude exports from Saudi Arabia supported the market, offsetting concerns about U.S.-China trade tensions and supply increases. U.S. crude strengthened late in the session as the U.S. dollar index slipped to a four-day low, on reports that U.S. President Donald Trump worries that the Federal Reserve will raise rates twice this year. The dollar was a one-way ticket for the last couple of weeks and basically reversed directions, giving us some strong support. U.S. drillers this week cut five oil rigs, the most since March, according to a Baker Hughes report, with the rate of growth slowing over the past month with recent declines in crude prices. Prices also received a boost after OPEC’s largest oil producer, Saudi Arabia, said it would temper its exports next month.

 
Precious and Base Metals

Gold prices edged up in volatile trade on Friday, after hitting a one-year low in the previous session, as the U.S. dollar eased from its highest in a year. Spot gold was trading at $1,224.55 an ounce. In the previous session, it fell to its weakest since July last year at $1,211.08 an ounce. U.S. gold futures were little changed at $1,224.40 an ounce. Geopolitical tensions such as trade war are supporting gold to some extent but investors are still not ready to hedge their bets fully, they think the current situation is only a hiccup and things will smooth out after that. The dollar index, which measures the greenback against a basket of six major currencies, was down 0.03 percent at 95.123, after U.S. President Donald Trump expressed concern about the currency’s strength and the Federal Reserve’s interest rate increases. Trump on Thursday criticized Fed’s policy even though most economists believe the highest inflation in seven years and lowest unemployment in 40 years justify recent interest rate rises and a strong U.S. dollar. This comes after Fed Chairman Jerome Powell’s two-day congressional testimony where he said the U.S. was on course for years more of steady growth and reaffirmed expectations for more interest rate rises. Rising U.S. interest rates tend to boost the dollar and make gold more expensive for other holders. Elsewhere, officials from the EU Trade Commission are due to arrive in Washington next week for trade talks but the bloc is preparing a list of U.S. imports to hit if the United States imposes tariffs on EU cars. Financial leaders of the world’s 20 biggest economies meet in Buenos Aires this weekend for the first time since China and the United States put tariffs on $34 billion of each other’s goods. It seems gold cannot really get anything going on the upside. Despite what the U.S. President said, investors quickly concluded that his opinions do not count much when it comes to the Federal Reserve actions. In other precious metals, silver rose 0.9 percent to $15.41 an ounce.

 

 

Traditional Agricultures

Wheat futures sailed to their highest prices in more than a month on Friday on technical buying and expectations for increased U.S exports as poor crop weather hurts harvests in other countries.

 

Futures Settlement Price Friday, July 20, 2018
Instrument Contract Open High Low Settlement Net Change
DJIA DJM18 25054 25107 24909 25026 -34
S & P 500 SPM18 2805.5 2810.5 2793 2801 -4.75
NASDAQ 100 NDM18 7380.25 7413.25 7350.5 7358.75 -9
Hang Seng HSH18 28030 28294 27727 28222 190
Nikkei 225 NKH18 22720 22850 22515 22690 -105
FTSE 100 FTH18 7621 7642.5 7566.5 7604 -13
Gold GCJ18 1223.1 1231.9 1215.1 1231.1 8.8
Silver SIK18 1533 1554.5 1524 1554 23
Copper HGK18 271.75 276.05 268.2 275.55 4
Crude Oil CLK18 68 68.87 67.66 68.19 0.2
Wheat WK18 503.5 519.25 503.25 515.25 12
Soybeans SK18 848.25 852.75 841 849.25 3.5
Corn CK18 351.5 355.25 349.5 354.75 4.25

 

 

Daily Swings  (The Pivot Levels)
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2 R3
DJM18 24723 24816 24921 25014 25119 25212 25317
SPM18 2775.00 2784.00 2792.50 2801.50 2810.00 2819.00 2827.50
NDM18 7272.33 7311.42 7335.08 7374.17 7397.83 7436.92 7460.58
HSH18 27301 27514 27868 28081 28435 28648 29002
NKH18 22185 22350 22520 22685 22855 23020 23190
FTH18 7490.17 7528.33 7566.17 7604.33 7642.17 7680.33 7718.17
GCJ18 1203.37 1209.23 1220.17 1226.03 1236.97 1242.83 1253.77
SIK18 1503.33 1513.67 1533.83 1544.17 1564.33 1574.67 1594.83
HGK18 262.63 265.42 270.48 273.27 278.33 281.12 286.18
CLK18 66.40 67.03 67.61 68.24 68.82 69.45 70.03
WK18 489.92 496.58 505.92 512.58 521.92 528.58 537.92
SK18 830.83 835.92 842.58 847.67 854.33 859.42 866.08
CK18 345.33 347.42 351.08 353.17 356.83 358.92 362.58

 

 Source: – News & Quotes (Courtesy:  Reuters)                                                                    

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