23 Окт 2018

Daily Market View

Daily Market View

Tuesday, October 23, 2018
          U.S Stock Market


25289 2756.00 7154.25
-0.35% -0.31% +0.40%

U.S stocks fell yesterday, with the S&P 500 poised for its fourth day of losses, as a touch of earnings-season anxiety dogged investors. The Dow Jones Industrial Average dropped 130 points, or 0.5%, while S&P 500 shed 11 points, or 0.4%. The tech heavy NASDAQ however, rose 20 points, or 0.3%. Stocks are trying to find direction after bulls and bears fought each other to a stalemate last week, leaving the benchmark S&P 500 to eke out a weekly rise of less than 0.1%. The tech-heavy NASDAQ suffered a third straight weekly decline as once-popular technology shares continued to take a beating, while the Dow broke a three-week losing streak. Increased volatility has left investors nervous in what’s been a rough October. The S&P 500 is down more than 5% in the month-to-date, while the Dow is off nearly 4% and the NASDAQ has shed 7%. That is left the S&P 500 roughly 6% off its record high set in late September. Investors will be wading through a flood of earnings this week.


Major Economic Releases for Today
Period Event GMT Forecast Previous


RBA’s Bullock speaks on panel in Sydney 03:00    


Japan Nationwide Department Store Sales (YoY) 05:30   -0.2%


Japan Machine Tool Orders (YoY) 06:00   2.8%


German Producer Price Index (YoY) 06:00 3.0% 3.1%


U.K CBI Business Optimism 10:00 -4 -3


U.S Richmond Fed Manufact. Index 14:00 24 29


Euro-Zone Consumer Confidence 14:00 -3.2 -2.9


BOE’s Carney Speaks at a Conference 15:20    


Nikkei Japan PMI Manufacturing 23:30   52.5
Dow Jones Industrial Average

The Dow Jones Industrial Average declined 0.50%. The best performers of the session on the Dow Jones Industrial Average were Intel Corporation, which rose 2.30% or 1.01 points to trade at 45.01 at the close. Meanwhile, Nike Inc. added 0.93% or 0.69 points to end at 74.90 and Cisco Systems Inc. was up 0.93% or 0.42 points to 45.76 in late trade. The worst performers of the session were DowDuPont Inc., which fell 2.47% or 1.42 points to trade at 56.07 at the close. Goldman Sachs Group Inc. declined 2.36% or 5.36 points to end at 221.60 and American Express Company was down 2.08% or 2.22 points to 104.51.





The NASDAQ index gained 0.26%. The top performers on the NASDAQ were Jetpay Corp which rose 133.96% to 4.960, Euroseas Ltd which was up 81.82% to settle at 2.400 and Top Ships Inc. which gained 55.12% to close at 1.9700. The worst performers were Adaptimmune Therapeutics Plc which was down 29.83% to 7.55 in late trade, Aduro Biotech Inc. which lost 29.46% to settle at 4.43 and LM Funding America Inc. which was down 26.57% to 2.93 at the close.




Oil futures were little changed yesterday after paring earlier losses despite Saudi Arabia’s pledge to raise crude production to a record high, two weeks before U.S sanctions potentially choke off Iranian supplies. Saudi Energy Minister Khalid al-Falih told Russia’s TASS news agency that his country had no intention of unleashing a 1973-style oil embargo on Western consumers, but rather was focused on raising output to compensate for supply losses elsewhere, such as Iran. Falih said Saudi Arabia would soon raise output to 11 million barrels per day (bpd) from the current 10.7 million. He added that Riyadh had capacity to increase production to 12 million bpd. Oil prices are finely balanced in today’s trading session despite the Saudi pledge to boost production. West Texas Intermediate (WTI) for November delivery also rose 5 cents to settle at $69.17 on its last day as the U.S front-month. In intraday trade, WTI fell as low as $68.27, its lowest since Sept. 14. U.S sanctions on Iran’s oil sector start on Nov. 4




Precious and Base Metals

Gold prices slipped yesterday, pressured by a rallying dollar and the metal’s failure to break above a key technical level. Spot gold fell 0.3 percent to $1,222.13 per ounce, having hit a 2-1/2-month peak last week at $1,233.26 per ounce. Prices were on track to register their biggest daily percentage decline since Oct. 12. U.S. gold futures fell 0.3 percent to $1,224.80. The strength of the dollar and the gold market’s inability to trade above the 100 day moving average at $1,224 yesterday has given people the impression that gold has no chance of rallying. The dollar rose against a basket of major currencies, denting demand for gold, which is priced in the U.S currency, while Wall Street failed to capitalize on gains in European and Asian stock markets. Despite the market gathering a fair amount of technical momentum last week, breaking free of stock market fluctuations, some analysts said the outlook was not straightforward. The fundamental outlook for gold is still looking a little bleak despite the recent recovery. Gold speculators cut their net short position in COMEX gold contracts by 65,637 contracts to 37,372 contracts, the smallest since late July, in the week to Oct. 16, data showed. In other precious metals, palladium surged 3.7 percent to $1,120 per ounce, having hit its highest in more than nine months at $1,123.20. The auto catalyst metal has seen fresh buying on the back of a recovery in Chinese equity markets. Promises of tax cuts and coordinated official statements of support for stock markets in the world’s second-largest economy saw Chinese shares stage their biggest one-day surge in three years. Meanwhile, silver was 0.4 percent lower at $14.54, while platinum slid 0.8%. Copper prices hit one-week highs yesterday due to expectations of stronger demand after authorities in top consumer China said they would take measures aimed at bolstering growth and liquidity.





Traditional Agricultures

Corn futures inched higher yesterday, snapping a four-session slide, as forecasts for rains to re-emerge in the Midwest next week raised concerns about harvest delays and crop quality. Soybeans ended narrowly higher while wheat futures sagged in subdued trade, pressured by a firm dollar and weak export demand for U.S supplies.



Futures Settlement Price Friday, October 22, 2018
Instrument Contract Open High Low Settlement Net Change
DJIA DJM18 25365 25562 25218 25289 -137
S & P 500 SPM18 2757.75 2781.75 2749.5 2756 -11.5
NASDAQ 100 NDM18 7085 7210 7056.75 7154.25 47
Hang Seng HSH18 25488 26217 25483 26125 671
Nikkei 225 NKH18 22390 22660 22260 22660 140
FTSE 100 FTH18 7035 7086.5 7004.5 7015.5 9.5
Gold GCJ18 1229.5 1231.2 1222.6 1224.6 -3.8
Silver SIK18 1463.5 1470.5 1452.5 1457 -7
Copper HGK18 277.6 283.35 277.35 278.05 0.2
Crude Oil CLK18 69.29 69.8 68.43 69.49 0.2
Wheat WK18 511.75 513.5 507 507.75 -6
Soybeans SK18 855.5 862.5 855.5 858.25 1.5
Corn CK18 365.75 370.25 365.5 369.25 2.5



Daily Swings  (The Pivot Levels)
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2 R3
DJM18 24807 25012 25151 25356 25495 25700 25839
SPM18 2710.83 2730.17 2743.08 2762.42 2775.33 2794.67 2807.58
NDM18 6917.42 6987.08 7070.67 7140.33 7223.92 7293.58 7377.17
HSH18 24932 25208 25666 25942 26400 26676 27134
NKH18 21993 22127 22393 22527 22793 22927 23193
FTH18 6902.50 6953.50 6984.50 7035.50 7066.50 7117.50 7148.50
GCJ18 1212.47 1217.53 1221.07 1226.13 1229.67 1234.73 1238.27
SIK18 1431.50 1442.00 1449.50 1460.00 1467.50 1478.00 1485.50
HGK18 269.82 273.58 275.82 279.58 281.82 285.58 287.82
CLK18 67.31 67.87 68.68 69.24 70.05 70.61 71.42
WK18 498.83 502.92 505.33 509.42 511.83 515.92 518.33
SK18 848.00 851.75 855.00 858.75 862.00 865.75 869.00
CK18 361.67 363.58 366.42 368.33 371.17 373.08 375.92


 Source: – News & Quotes (Courtesy:  Reuters)                                                                    


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