16 Окт 2018

Daily Market View

Daily Market View

Tuesday, October 16, 2018
          U.S Stock Market

 

DJIA S & P 500 NASDAQ
25196 2748.75 7075.75
+0.23% +0.07% -0.25%

U.S stocks dropped earlier in the session yesterday as rising tensions between Western powers and Saudi Arabia added to worries over rising borrowing costs and the impact of tariffs following the three indexes’ biggest weekly declines in over seven months. The Dow Jones Industrial Average fell 7.53 points, or 0.03 percent, at the open. The S&P 500 opened lower by 3.30 points, or 0.12 percent. The NASDAQ dropped 23.57 points, or 0.31 percent at the opening bell. U.S retail sales barely rose in September as a rebound in motor vehicle purchases was offset by the biggest drop in spending at restaurants and bars in nearly two years. But other details of the report from the Commerce Department on Monday were upbeat and suggested that consumer spending ended the third quarter with strong momentum, which should provide a boost to economic growth despite anticipated drags from weak exports and a struggling housing market. Retail sales in September rose 4.7 percent from a year ago.

 

Major Economic Releases for Today
Period Event GMT Forecast Previous

sep

China Producer Price Index (YoY) 01:30 3.6% 4.1%

sep

China Consumer Price Index (YoY) 01:30 2.5% 2.3%

sep

U.K Claimant Count Rate 08:30   2.6%

sep

U.K Jobless Claims Change 08:30   8.7k

oct

German ZEW Survey Expectations 09:00 -12 -10.6

oct

Euro-Zone ZEW Survey (Economic Sentiment) 09:00   -7.2

sep

U.S Industrial Production (MoM) 13:15 0.2% 0.4%

oct

U.S NAHB Housing Market Index 14:00 67 67

aug

U.S Net Long-term TIC Flows 20:00   $74.8b
Dow Jones Industrial Average

The Dow Jones Industrial Average declined 0.35%. The best performers of the session on the Dow Jones Industrial Average were Walgreens Boots Alliance Inc., which rose 1.66% or 1.22 points to trade at 74.72 at the close. Meanwhile, Procter & Gamble Company added 1.35% or 1.07 points to end at 80.13 and Walt Disney Company was up 0.74% or 0.83 points to 113.44 in late trade. The worst performers of the session were Cisco Systems Inc., which fell 2.28% or 1.04 points to trade at 44.67 at the close. Apple Inc. declined 2.14% or 4.75 points to end at 217.36.

 

 

NASDAQ 100

The NASDAQ fell 0.88%. Top performers were Flex Pharma Inc. which rose 79.25%, Globus Maritime Ltd which was up 41.30% to settle at 6.5000 and Auris Medical Holding AG which gained 40.82% to close at 1.380. The worst performers were Soligenix Inc. which was down 26.21% to 1.0700 in late trade, Sears Holdings Corporation which lost 23.83% to settle at 0.31 and China Internet Nationwide Financial Services Inc. which was down 22.63% to 2.77 at the close.

 

 

Oil

Oil prices steadied yesterday as tension over the disappearance of a prominent Saudi journalist stoked supply worries, balancing concerns over the long-term demand outlook. Crude markets were also supported in the wake of data that showed South Korea did not import any oil from Iran in September for the first time in six years, before U.S sanctions against the Middle Eastern country take effect in November. Yesterday, Trump said he had spoken with King Salman about Khashoggi and that he was sending Secretary of State Mike Pompeo to meet the king immediately. Trump also told reporters he believes “rogue killers” may have been responsible for Khashoggi’s disappearance. The comment from the president eased nerves in the oil market by opening a potential pathway for the royal family to escape culpability. It takes some of the angst out of the market that had been built up over the weekend. Saudi Arabia has been under pressure since Khashoggi, a critic of Riyadh and a U.S. resident, disappeared on Oct. 2 after visiting the Saudi consulate in Istanbul.

 

 

 

Precious and Base Metals

Gold rose more than 1 percent yesterday to its highest in about 2-1/2 months as investors sought refuge in the metal after mounting tensions between Western powers and Saudi Arabia compounded jitters in global stock markets. Spot gold was up 1 percent at $1,230.05 per ounce, having touched its highest since July 26 at $1,233.26. U.S gold futures rose 1 percent to $1,234.20. Gold has now got a stronger tailwind from a flight to safety from risky assets. Gold’s next moves will depend on how long this sell-off continues. Global stocks were under pressure, with European shares hitting 22-month lows on the back of a raft of factors including a U.S.-China trade dispute, rising tensions between Saudi Arabia and western powers, stalled Brexit negotiations and concerns over an economic slowdown in China. The International Monetary Fund said last week that risks to the global financial system, which have risen over the past six months, could increase sharply if pressures in emerging markets escalate or global trade relations worsen. On the technical front, gold broke above the 100-day moving average at around $1,227. A close above that could provide additional support. Other indicators, such as inflows into exchange-traded funds (ETFs), suggest chances of a further rebound in prices. Holdings of the largest gold-backed ETF, SPDR Gold, rose nearly 2 percent last week. That was its biggest weekly inflow since January, with the fund having registered declines of more than 4 million ounces since hitting a peak in late April. Gold, usually seen as a safe store of value during political and economic uncertainty, remains about 10 percent down from its April peak, with investors opting for the dollar as the U.S.-China trade war unfolded against a background of higher U.S. interest rates. Speculators meanwhile extended their net short position on Comex gold by 29,881 contracts to 103,009 contracts, CFTC data showed last week, based on the week up to Oct. 9.

 

 

 

 

Traditional Agricultures

Soybeans recovered after the most actively traded contract last week fell to its lowest price in nearly 10 years. Bargain buying and improving export demand helped lift soybean futures for a second consecutive session.

 

 

Futures Settlement Price Monday, October 15, 2018
Instrument Contract Open High Low Settlement Net Change
DJIA DJM18 25337 25468 25108 25196 -121
S & P 500 SPM18 2769.75 2778.5 2745.25 2748.75 -19.75
NASDAQ 100 NDM18 7176.5 7177.75 7060.25 7075.75 -97
Hang Seng HSH18 25538 25644 25326 25340 -346
Nikkei 225 NKH18 22535 22540 22165 22210 -445
FTSE 100 FTH18 6965.5 7015.5 6932 6992.5 8.5
Gold GCJ18 1224.7 1236.6 1223.9 1230.2 8.6
Silver SIK18 1466.5 1479 1461.5 1470.5 7.5
Copper HGK18 281.1 283.9 277.2 278 -2.1
Crude Oil CLK18 72.18 72.35 70.82 71.69 0.32
Wheat WK18 518.5 525 514.5 525 8.25
Soybeans SK18 868.75 891.5 863.25 891.25 24
Corn CK18 373 378.25 371.5 377.75 4.5

 

 

Daily Swings  (The Pivot Levels)
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2
DJM18 24687 24897 25047 25257 25407 25617 25767
SPM18 2703.25 2724.25 2736.50 2757.50 2769.75 2790.75 2803.00
NDM18 6913.92 6987.08 7031.42 7104.58 7148.92 7222.08 7266.42
HSH18 24911 25119 25229 25437 25547 25755 25865
NKH18 21695 21930 22070 22305 22445 22680 22820
FTH18 6861.00 6896.50 6944.50 6980.00 7028.00 7063.50 7111.50
GCJ18 1211.17 1217.53 1223.87 1230.23 1236.57 1242.93 1249.27
SIK18 1444.17 1452.83 1461.67 1470.33 1479.17 1487.83 1496.67
HGK18 268.80 273.00 275.50 279.70 282.20 286.40 288.90
CLK18 69.36 70.09 70.89 71.62 72.42 73.15 73.95
WK18 507.50 511.00 518.00 521.50 528.50 532.00 539.00
SK18 844.25 853.75 872.50 882.00 900.75 910.25 929.00
CK18 366.67 369.08 373.42 375.83 380.17 382.58 386.92

 

 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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