12 Окт 2018

Daily Market View

Daily Market View

Friday, October 12, 2018
          U.S Stock Market

 

DJIA S & P 500 NASDAQ
25190 2746.50 7032.00
-2.13% -2.06% -1.25%

U.S stocks extended declines yesterday, with the Dow briefly approaching a 700-point slide, as investors continue to test the resiliency of risk markets amid the biggest global sell-off since February. The CBOE’s key risk indicator, known by its trading symbol, jumped to a February high of 28.8 points as the Dow Jones Industrial Average tumbled more than 545 points in the final hours of the trading session, taking its two-day decline past 1,300 points. The S&P 500 was also pulled lower in the downdraft, falling 57.31 points, or 2.14%, taking the broadest measure of U.S stock prices below its 200-day moving average, a key measure that investors use to gauge market direction. The NASDAQ was more than 93 points down to slide into what is known as correction territory, a condition traders use to describe market that has fallen more than 10% from a recent peak. Energy stocks were the leading declines after a bigger-than-expected rise in crude inventories, which is extending declines for global crude prices amid persistent concerns over the health of the world economy.

 

Major Economic Releases for Today
Period Event GMT Forecast Previous

aug

Australia Home Loans (MoM) 00:30 -1.0% 0.4%

aug

Australia Value of Loans (MoM) 00:30   1.3%

aug

Japan Tertiary Industry Index (MoM) 04:30 0.3% 0.1%

sep

German Consumer Price Index (YoY) 06:00 2.3% 2.3%

aug

Euro-Zone Industrial Production w.d.a. (YoY) 09:00 -0.3% -0.1%

sep

Canada Teranet/National Bank HPI (YoY) 12:30   1.4%

sep

U.S Import Price Index ex Petroleum (MoM) 12:30 -0.1% -0.2%

sep

U.S Import Price Index (YoY) 12:30 3.1% 3.7%

sep

U.S Export Price Index (YoY) 12:30   3.6%
Dow Jones Industrial Average

The Dow Jones Industrial Average declined 2.13% to hit a new 1-month low yesterday. The best performers of the session on the Dow Jones Industrial Average were Microsoft Corporation, which fell 0.24% or 0.25 points to trade at 105.91 at the close. Meanwhile, Dow DuPont Inc. fell 0.57% or 0.34 points to end at 58.98 and Nike Inc. was down 0.57% or 0.43 points to 74.51 in late trade. The worst performers of the session were Pfizer Inc., which fell 3.82% or 1.70 points to trade at 42.81 at the close. Exxon Mobil Corp declined 3.45% or 2.92 points to end at 81.60 and Chevron Corp was down 3.40% or 4.17 points to 118.43.

 

 

 

NASDAQ 100

The tech heavy NASDAQ index lost 1.25%. The top performers on the NASDAQ Composite were Avenue Therapeutics Inc. which rose 60.48% to 3.37, Auris Medical Holding AG which was up 36.00% to settle at 0.680 and Mercantil Bank Holding Corp Class B which gained 21.57% to close at 7.44. The worst performers were China Internet Nationwide Financial Services Inc. which was down 44.28% to 3.02 in late trade, Sears Holdings Corporation which lost 29.70% to settle at 0.34 and MagneGas Corp which was down 27.20% to 0.266 at the close.

 

Oil

Oil prices slumped to more than two-week lows yesterday as global stock markets fell, with investor sentiment made more bearish by a bigger-than-expected U.S crude inventories build. Crude inventories climbed by 6 million barrels in the week to Oct. 5, the U.S Energy Information Administration reported, compared with analyst expectations for an increase of 2.6 million barrels. U.S light crude ended yesterday’s session down $2.20, or 3 percent, to $70.97. The contract lost 2.4 percent in the previous session. U.S crude inventories rose 6 million barrels last week, the EIA said, more than double analysts’ expectations of a 2.6 million-barrels increase. The stockpiles rose for the third consecutive week as refineries continued to reduce production for seasonal maintenance. Refinery crude runs fell by 352,000 barrels per day as utilization rates dropped 1.6 percentage points, the EIA data showed.

 

Precious and Base Metals

Gold rose more than 1 percent to near three-week highs yesterday, climbing above $1,200 per ounce as sliding global stock markets prompted risk-wary investors to seek out the metal, with a weaker dollar also supporting prices. Spot gold gained 1.3 percent to $1,209.30 an ounce, having hit its highest since Sept. 21, at $1,210.34. U.S gold futures added 1.4 percent to $1,210 an ounce. European stocks fell in line with a slump on Wall Street, pointing to growing risk aversion across global markets. Gold is finding a bit of support from the global sell-off seen in equities. If this sell-off persists, we will start seeing more of a move to gold as a safe-haven asset. Rising U.S. yields and general strength in the dollar have meant that investors have largely ignored gold. But people are seeing fairly good value at current levels on the back of some macro concerns. Wednesday’s dive on Wall Street prompted U.S President Donald Trump to lash out against the U.S Federal Reserve for raising interest rates. The Fed increased rates last month for the third time this year and is widely expected to hike again in December. Gold has fallen more than 12 percent since hitting a peak in April, with investors increasingly switching to the safety of the greenback as the U.S.-China trade war unfolded against a backdrop of rising U.S. interest rates. But prices have managed to stay above a 1-1/2-year low of $1,059.96 hit mid-August, propped up by limited safe-haven buying at lower levels linked to concerns over economic growth and inflationary pressure from soaring oil prices. The weakness in the dollar and to some extent the fear in the equity carnage have spooked the shorts. Holdings in the SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 1.21 percent to 738.99 tonnes on Wednesday, the first gain in holdings since July and the biggest inflow since March. Spot silver rose 1.4 percent to $14.43 an ounce.

 

 

 

Traditional Agricultures

Soybean futures fell for a third consecutive session yesterday as ample global supplies and concerns that a Sino-U.S. trade war could escalate kept prices near their lowest since the start of the month. Corn futures gained in yesterday’s session, while wheat fell for a second session.

 

 

Futures Settlement Price Thursday, October 11, 2018
Instrument Contract Open High Low Settlement Net Change
DJIA DJM18 25458 25677 24891 25190 -320
S & P 500 SPM18 2776.25 2798.5 2712.25 2746.5 -34.25
NASDAQ 100 NDM18 7010.5 7137.25 6907.54 7032 2
Hang Seng HSH18 25367 25455 25119 25184 -975
Nikkei 225 NKH18 22635 22635 22410 22510 -110
FTSE 100 FTH18 7013 7050 6894.5 6936 -129.5
Gold GCJ18 1197.5 1229.7 1194.4 1227.4 29.5
Silver SIK18 1432 1463.5 1426.5 1459.5 29
Copper HGK18 274.85 281.6 271.25 277.6 2.8
Crude Oil CLK18 72.65 72.72 70.47 70.96 -1.65
Wheat WK18 509.75 520.5 506.25 507.5 -2.75
Soybeans SK18 852 863.5 846.75 858 5.5
Corn CK18 361.5 372.5 359.75 368.75 6.5

 

Daily Swings  (The Pivot Levels)
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2 R3
DJM18 24042 24467 24828 25253 25614 26039 26400
SPM18 2620.08 2666.17 2706.33 2752.42 2792.58 2838.67 2878.83
NDM18 6684.23 6795.89 6913.94 7025.60 7143.65 7255.31 7373.36
HSH18 24714 24917 25050 25253 25386 25589 25722
NKH18 22177 22293 22402 22518 22627 22743 22852
FTH18 6714.83 6804.67 6870.33 6960.17 7025.83 7115.67 7181.33
GCJ18 1169.33 1181.87 1204.63 1217.17 1239.93 1252.47 1275.23
SIK18 1399.17 1412.83 1436.17 1449.83 1473.17 1486.83 1510.17
HGK18 261.68 266.47 272.03 276.82 282.38 287.17 292.73
CLK18 67.80 69.13 70.05 71.38 72.30 73.63 74.55
WK18 488.08 497.17 502.33 511.42 516.58 525.67 530.83
SK18 831.92 839.33 848.67 856.08 865.42 872.83 882.17
CK18 348.75 354.25 361.50 367.00 374.25 379.75 387.00

 

 Source: – News & Quotes (Courtesy:  Reuters)                                                                    

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