27 Июн 2018

 Daily Market View

 

 

     Daily Market View

   Wednesday, June 27, 2018
          U.S Stock Market

 

DJIA S & P 500 NASDAQ
24300 2728.50 7104.00
+0.12% +0.22% +0.39%

U.S stocks bobbed higher yesterday as technology and consumer-focused companies regained a sliver of their losses from the day before. Oil prices and energy companies jumped as the U.S. pressed its allies to stop importing oil from Iran. Coming off their worst loss since early April, stocks were on track for hefty gains Tuesday afternoon but weakened late in the day. Technology companies like Apple bounced back after abrupt losses on Monday. General Electric led industrial companies higher after it said it would shrink even further by spinning off its health care business and its oil service unit. Banks and other financial companies took losses as bond yields and interest rates remained well off their highs from last month. Household goods makers also slipped. The S&P 500 index gained 5.99 points, or 0.2 percent. It fell 1.4 percent Monday. The Dow Jones Industrial Average gained 30.31 points, or 0.1 percent. The NASDAQ composite added 29.62 points, or 0.4 percent after it plunged 2.1 percent a day ago. In commodities trading, gold lost 0.7 percent to $1,259.90.

 

Major Economic Releases for Today
Period Event GMT Forecast Previous

jun

New Zealand ANZ Activity Outlook 01:00   13.6

 

BOE’s Carney Speaks About Financial Stability Report 08:30    

jun

U.S MBA Mortgage Applications 11:00   5.1%

may

U.S Wholesale Inventories (MoM) 12:30 0.2% 0.1%

may

U.S Advance Goods Trade Balance 12:30 -$69.0b -$68.2b

may

U.S Durable Goods Orders 12:30 -0.9% -1.6%

may

U.S Pending Home Sales (YoY) 14:00   0.4%

jun

DOE U.S. Crude Oil Inventories 14:30   -5914k

 

BOC Governor Stephen Poloz Gives Speech in Victoria 19:00    
Dow Jones Industrial Average

The Dow Jones Industrial Average gained 0.12% yesterday. The best performers of the session on the Dow Jones Industrial Average were General Electric Company, which rose 7.76% or 0.99 points to trade at 13.74 at the close. Meanwhile, Chevron Corp added 1.26% or 1.55 points to end at 124.16 and Apple Inc. was up 1.24% or 2.26 points to 184.43 in late trade. The worst performers of the session were Intel Corporation, which fell 2.05% or 1.04 points to trade at 49.67 at the close. The Travelers Companies Inc. declined 0.89% or 1.10 points to end at 122.62 and Caterpillar Inc. was down 0.76% or 1.04 points to 135.54.

 

 

NASDAQ 100

The tech heavy NASDAQ index gained 0.39% yesterday. The top performers on the NASDAQ Composite were China Lending Corp which rose 145.55% to 4.69, Ascent Capital Group Inc. which was up 44.23% to settle at 3.75 and Sophiris Bio Inc. which gained 34.82% to close at 3.020. The worst performers were Gevo Inc. which was down 23.35% to 7.6500 in late trade, Achaogen Inc. which lost 20.22% to settle at 9.590 and Sellas Life Sciences Group Inc. which was down 18.22% to 3.7700 at the close.

Oil

Crude prices surged by more than 3 percent yesterday after the U.S State Department said it will require companies to cut all oil imports from Iran to zero by November. The announcement exacerbates concerns about a shortage of oil at a time when Venezuela’s production is in terminal decline and the market is grappling with short-term supply disruptions from Canada and Libya. Last week, OPEC and other producers including Russia agreed to raise output to prevent price spikes. U.S. West Texas Intermediate crude futures ended Tuesday’s session up $2.45 a barrel, or 3.6 percent, to $70.53, erasing earlier losses and breaking above $70 for the first time since May 25. Oil prices rose further in late electronic trading after API data showed a large decline in oil inventories of 9.2 million barrels in the latest week. Government supply data is expected today. The U.S is continuing its decision to completely isolate Iran.

 

 

Precious and Base Metals

Gold hit its lowest in over six months yesterday as a selloff in global risk assets eased and the precious metal remained under pressure from the prospect that rising U.S. interest rates will further support the dollar. Modest gains from Europe’s main bourses relieved nervy investors after the latest escalation in an increasingly global trade dispute pummeled Wall Street and sent China into bear market territory. Rising equities tend to weigh on gold, which is widely seen as a safe-haven asset compared with higher-risk stocks. Spot gold dropped 0.6 percent at $1,257.53 per ounce, having hit its weakest since mid-December at $1,254.16. U.S gold futures for August delivery settled down $9, or 0.7 percent, at $1,259.90 per ounce. The dollar rose against its rivals as the escalating concerns of a trade conflict between the world’s two biggest economies pushed markets to unwind their bets in high-yielding currencies. A stronger dollar makes dollar-denominated gold costlier for non-U.S. investors. The dollar has been a lot stronger, that’s the main driver here. Also, gold hasn’t seemed to benefit from the trade turmoil. Gold is being driven by some capitulation in investors, rather than being primarily driven by the dollar. Gold-backed exchange-traded funds tracked by Thomson Reuters were headed for their weakest month since July 2017, as investors covered losses in equities, commodities and other markets caused by tariff disputes. Trade tensions aren’t helping gold at all, there is only one clear trend which is skewed to the downside. Enhancing tensions, U.S. Treasury Secretary Steven Mnuchin said forthcoming investment restrictions from the department will not be specific to China, but would apply “to all countries that are trying to steal our technology. Helping the dollar, Fed Chairman Jerome Powell last week said the U.S. central bank should continue with a gradual pace of interest rate rises. Meanwhile, silver lost 0.3 percent at $16.26 an ounce, slipping to $16.10, its lowest since May 1.

 

 

Wheat, Corn and Soybeans

Wheat futures sagged, with the K.C. hard red winter wheat market hitting its lowest in nearly five months on fund-driven long liquidation and pressure from the harvest in the southern Plains.

 

 

Futures Settlement Price Tuesday, June 26, 2018
Instrument Contract Open High Low Settlement Net Change
DJIA DJM18 24269 24372 24215 24300 19
S & P 500 SPM18 2721.5 2735 2714.75 2728.5 6.25
NASDAQ 100 NDM18 7066.5 7129.5 7040 7104 31
Hang Seng HSH18 28888 29027 28471 28940 -18
Nikkei 225 NKH18 22150 22335 22050 22330 5
FTSE 100 FTH18 7460 7515.5 7446 7500 68
Gold GCJ18 1267.8 1269.1 1256.1 1260.5 -7
Silver SIK18 1632 1634 1613 1627 -7
Copper HGK18 298.4 299.8 297.45 299.35 0.5
Crude Oil CLK18 68.16 70.86 67.7 70.64 2.36
Wheat WK18 478.25 481.5 466.25 469.5 -8
Soybeans SK18 875.75 880.5 862 866.75 -8.25
Corn CK18 350.5 355 347.75 352.25 1

 

 

Daily Swings  (The Pivot Levels)
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2 R3
DJM18 24062 24139 24219 24296 24376 24453 24533
SPM18 2696.92 2705.83 2717.17 2726.08 2737.42 2746.33 2757.67
NDM18 6963.33 7001.67 7052.83 7091.17 7142.33 7180.67 7231.83
HSH18 28042 28257 28598 28813 29154 29369 29710
NKH18 21857 21953 22142 22238 22427 22523 22712
FTH18 7389.33 7417.67 7458.83 7487.17 7528.33 7556.67 7597.83
GCJ18 1241.70 1248.90 1254.70 1261.90 1267.70 1274.90 1280.70
SIK18 1594.33 1603.67 1615.33 1624.67 1636.33 1645.67 1657.33
HGK18 295.58 296.52 297.93 298.87 300.28 301.22 302.63
CLK18 65.45 66.57 68.61 69.73 71.77 72.89 74.93
WK18 448.08 457.17 463.33 472.42 478.58 487.67 493.83
SK18 840.50 851.25 859.00 869.75 877.50 888.25 896.00
CK18 341.08 344.42 348.33 351.67 355.58 358.92 362.83

 

Daily Swings  (The Pivot Levels)
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2 R3

 

 

 

 Source: – News & Quotes (Courtesy:  Reuters)                                                                    

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