10 九月 2018

Daily Market View

   

Daily Market View

Monday, September 10, 2018
          U.S Stock Market

 

DJIA S & P 500 NASDAQ
25961 2874.75 7439.00
-0.31% -0.22% -0.25%

Wall Street’s major indexes fell on Friday as U.S President Donald Trump raised the possibility of additional tariffs on Chinese imports and Apple Inc. indicated that some of its products could be subjected to such levies. U.S. stocks were lower for most of Friday’s session but dipped further in the last half-hour of trading on reports that Apple products, including the Apple Watch and AirPods, would be slapped with duties. Apple shares, which had been in positive territory for most of the session, ended 0.8 percent lower. The company provided those details in response to the White House’s proposed tariffs on $200 billion worth of Chinese imports. A comment period for those tariffs ended on Thursday night. Earlier on Friday, White House economic adviser Larry Kudlow said Trump would not make any decisions on those tariffs until officials evaluated public comments. The Dow Jones Industrial Average fell 79.33 points, or 0.31 percent, the S&P 500 lost 6.37 points, or 0.22 percent and the NASDAQ dropped 20.19 points, or 0.25 percent.

 

Major Economic Releases for Today
Period Event GMT Forecast Previous

        aug

China New Yuan Loans CNY     1450.0b

aug

China Producer Price Index (YoY) 01:30   4.6%

aug

China Consumer Price Index (YoY) 01:30   2.1%

aug

Japan Bankruptcies (YoY) 04:30   -1.68%

jul

U.K Visible Trade Balance (Pounds) 08:30   -£11383

jul

U.K Trade Balance 08:30   -£1861

jul

U.K Industrial Production (YoY) 08:30   1.1%

jul

U.K Gross Domestic Product (MoM) 08:30   0.1%

jul

U.S Consumer Credit 19:00   $10.211b
Dow Jones Industrial Average

The Dow Jones Industrial Average fell 0.31% on Friday. The best performers of the session on the Dow Jones Industrial Average were Exxon Mobil Corp, which rose 1.70% or 1.37 points to trade at 81.83 at the close. Meanwhile, Pfizer Inc. added 1.01% or 0.42 points to end at 42.20 and American Express Company was up 0.65% or 0.68 points to 106.08 in late trade. The worst performers of the session were Intel Corporation, which fell 1.71% or 0.81 points to trade at 46.45 at the close. The Travelers Companies Inc. declined 1.30% or 1.71 points to end at 130.09 and United Technologies Corporation was down 1.13% or 1.51 points to 132.01.

 

NASDAQ 100

The tech heavy NASDAQ index fell 0.25% on Friday. The top performers on the NASDAQ were Netlist Inc. which rose 91.84% to 0.282, Intellipharmaceutics International which was up 34.10% to settle at 0.409 and Interlink Electronics Inc. which gained 21.71% to close at 4.99. The worst performers were Mercantil Bank Holding Corp Class B which was down 44.23% to 10.00 in late trade, eGain Corporation which lost 31.24% to settle at 8.750 and Advaxis Inc. which was down 28.67% to 1.02 at the close.

Oil

Oil prices fell on Friday for the third straight session, weighed down by a strong dollar, weakness in the equity markets, and Tropical Storm Gordon’s smaller-than-expected impact on U.S. Gulf Coast oil production. U.S crude futures fell 49 cents to $67.28 per barrel. For the week, WTI was set to lose more than 3.5 percent, and Brent was on track to fall 1.6 percent. Oil prices had posted gains early in the week as the approach of Gordon forced the closure of Gulf of Mexico oil platforms and threatened refineries on the Gulf Coast. The storm ultimately weakened and moved away from oil-producing areas and energy companies restarted operations shut-in as a precautionary measure. The dollar rose against a basket of other currencies after a report showed U.S. job growth surged in August and that wages notched their largest annual increase in more than nine years. The jobs data raised concerns about the possibility of faster interest rate hikes, which in turn pressured equities markets.

 

 

Precious and Base Metals

Gold fell on Friday as the Dollar resumed its rally versus a currency basket after stronger than expected payrolls data cemented expectations of a third interest rate increase in September this year. A stronger dollar makes dollar-priced gold costlier for non-U.S. investors. U.S. job growth accelerated in August, with wages notching up their largest annual increase in nine years, strengthening views the economy was so far weathering the Trump administration’s escalating trade war with China. The greenback has soared this year on escalating U.S.-Sino trade tensions, though it has lost some steam this week to rival safe haven currencies like the yen and Swiss franc even as investors brace for new U.S. tariffs on China. A public consultation period for proposed U.S. tariffs on an additional $200 billion of Chinese imports ended on Friday and tariffs could go into effect at any moment, though there is no clear timetable. Spot gold fell 0.1 percent to $1,198.40, after it hit a near one-week high on Thursday at $1,206.98. U.S. gold futures were flat at $1,203.80 an ounce. Gold has tumbled about 12 percent from a peak of $1,365.23 in April, though present levels have invoked a lot of physical buying in Asia. Indicating possible headwinds for the dollar was an overnight report that bolstered the yen after suggesting U.S. President Donald Trump would next take up trade issues with Japan. Battered emerging market currencies have also recovered their poise versus the dollar. The stronger yen versus the dollar is leading to some buying in gold. The recent low of around $1,160 in August is really the bottom in gold for now. Spot silver was up 0.4 percent at $14.2 per ounce. The global platinum market will be oversupplied by 295,000 ounces this year as both supply and demand of the auto catalyst metal fall by 2 percent, the World Platinum Investment Council (WPIC) said on Thursday.

 

 

Traditional Agriculture

Soybean futures firmed on technical buying on Friday but gains were kept in check by expectations for a bumper U.S harvest in the coming weeks and concerns about exports, traders said. Corn settled in positive territory, with traders focused on the good demand for the yellow grain. Wheat futures dropped for the fourth day in a row but closed above session lows.

 

Futures Settlement Price Friday, September 07, 2018
Instrument Contract Open High Low Settlement Net Change
DJIA DJM18 25917 25963 25915 25961 -60
S & P 500 SPM18 2872.5 2875.75 2870.25 2874.75 -4
NASDAQ 100 NDM18 7432 7439.5 7427 7439 -17.75
Hang Seng HSH18 26853 26860 26815 26828 -152
Nikkei 225 NKH18 22290 22390 22275 22390 -120
FTSE 100 FTH18 7279.5 7288.5 7270.5 7287 -53.5
Gold GCJ18 1201 1201.4 1198.9 1200.2 -4.9
Silver SIK18 1419 1419 1414 1415.5 -1.5
Copper HGK18 262.4 262.65 261.3 262.2 -1.35
Crude Oil CLK18 67.54 67.74 67.48 67.73 -0.12
Wheat WK18 509 511.5 508.75 511.25 -2.25
Soybeans SK18 841.25 844.25 840.5 843.75 4.5
Corn CK18 364.5 366.75 364.5 366.75 0.75

 

 

Daily Swings  (The Pivot Levels)
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2 R3
DJM18 25882 25898 25930 25946 25978 25994 26026
SPM18 2865.92 2868.08 2871.42 2873.58 2876.92 2879.08 2882.42
NDM18 7418.33 7422.67 7430.83 7435.17 7443.33 7447.67 7455.83
HSH18 26764 26789 26809 26834 26854 26879 26899
NKH18 22198 22237 22313 22352 22428 22467 22543
FTH18 7257.50 7264.00 7275.50 7282.00 7293.50 7300.00 7311.50
GCJ18 1196.43 1197.67 1198.93 1200.17 1201.43 1202.67 1203.93
SIK18 1408.33 1411.17 1413.33 1416.17 1418.33 1421.17 1423.33
HGK18 260.10 260.70 261.45 262.05 262.80 263.40 264.15
CLK18 67.30 67.39 67.56 67.65 67.82 67.91 68.08
WK18 506.75 507.75 509.50 510.50 512.25 513.25 515.00
SK18 837.67 839.08 841.42 842.83 845.17 846.58 848.92
CK18 363.00 363.75 365.25 366.00 367.50 368.25 369.75

 

 Source: – News & Quotes (Courtesy:  Reuters)                                                                    

Disclaimer

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