13 九月 2018

Daily Market View

 

Daily Market View

Thursday, September 13, 2018
          U.S Stock Market

 

DJIA S & P 500 NASDAQ
26012 2888.50 7485.50
+0.14% +0.08% -0.20%

U.S stocks traded lower yesterday as Apple Inc. unveiled new iPhones that continued the X series first launched last year. The S&P 500 and the Dow, which had earlier traded higher on a report that the U.S government is seeking new trade talks with China, retreated, joining the NASDAQ in negative territory. The S&P 500 index wove in and out of positive territory to fall 2 points or 0.1% and the NASDAQ shed 45 points, or 0.6%. The Dow Jones Industrial Average reversed direction to drop 35 points, a decline of 0.1%. The S&P 500 and the NASDAQ have risen for two straight sessions through Tuesday though that comes after a four-day skid. On the trade front, the U.S. has reached out to China for follow-up talks after negotiations last month concluded without results, The Wall Street Journal reported yesterday. The move is viewed as an effort to give Beijing another opportunity to resolve outstanding trade issues before the Trump administration slaps more tariffs on Chinese imports, the Journal said.

 

 

Major Economic Releases for Today
Period Event GMT Forecast Previous

aug

Australia Employment Change 01:30 18.0k -3.9k

sep

Bank of England Bank Rate 11:00 0.750% 0.750%

sep

BOE Asset Purchase Target 11:00 435b 435b

sep

European Central Bank Rate Decision 11:45 0.000% 0.000%

 

ECB President Draghi Holds Press Conference in Frankfurt 12:30    

aug

U.S Consumer Price Index (YoY) 12:30 2.8% 2.9%

sep

U.S Initial Jobless Claims 12:30 210k 203k

aug

U.S Real Avg Hourly Earning (YoY) 12:30   -0.1%

aug

U.S Monthly Budget Statement 18:00 -$185.0b -$107.7b
 

Dow Jones Industrial Average

The Dow Jones Industrial Average added 0.11%. The best performers of the session on the Dow Jones Industrial Average were Walgreens Boots Alliance Inc., which rose 2.39% or 1.64 points to trade at 70.38 at the close. Meanwhile, Boeing Co added 2.36% or 8.16 points to end at 353.41 and Caterpillar Inc. was up 1.58% or 2.25 points to 144.28 in late trade. The worst performers of the session were 3M Company, which fell 2.39% or 5.07 points to trade at 206.71 at the close. Apple Inc. declined 1.24% or 2.78 points to end at 221.07 and DowDuPont Inc. was down 1.20% or 0.84 points to 69.24.

 

 

NASDAQ 100

The NASDAQ index declined 0.23%. The top performers on the NASDAQ Composite were Inpixon which rose 68.80% to 0.2083, XBiotech Inc. which was up 26.62% to settle at 2.92 and Aoxin Tianli Group Inc. which gained 23.68% to close at 1.8799. The worst performers were Vital Thera which was down 92.86% to 0.45 in late trade, Netlist Inc. which lost 42.79% to settle at 0.369 and Auris Medical Holding AG which was down 28.49% to 0.311 at the close.

 

Oil

Oil futures settled higher yesterday, as a hefty decline in domestic crude supplies and uncertainty tied to the energy impact from Hurricane Florence combined to lift U.S prices past $70 a barrel. October futures U.S benchmark rose $1.12, or 1.6%, to settle at $70.37 a barrel. Prices based on the front-month contracts marked the highest settlement since July 20. The threat of Florence to the Carolinas and Virginia increased in recent days as the storm has grown over the Atlantic, prompting evacuation orders for more than 1 million people ahead of landfall for the major hurricane, which is expected to approach the coast of the Carolinas on Thursday. Concerns about the impending storm and expected disruptions to supply have underpinned recent crude-price gains. Evacuations ahead of the hurricane have caused a spike in gasoline, with some stations in the Carolinas running short of fuel. Analysts have also voiced concerns that the storm may cause disruptions to the flow of fuel through the key Colonial Pipeline.

 

Precious and Base Metals

Gold turned positive yesterday as the U.S dollar weakened against a basket of major currencies after hopes grew of concessions by Canada that would resolve disputes over reworking the North American Free Trade Agreement. Spot gold was up 0.8 percent at $1,206.94 per ounce, after hitting its lowest since Aug. 24 at $1,187.21 on Tuesday. U.S gold futures for December delivery settled up $8.70, or 0.7 percent, at $1,210.90 per ounce. The U.S. dollar index faded against a basket of major currencies as news emerged that Canada was ready to offer the United States limited access to the Canadian dairy market as a concession in negotiations to rework the North American Free Trade Agreement. The dollar is significantly weaker against major currencies today and commodities are supported across the board. Any type of resolution in the agreement is going to support those currencies. A trade conflict between Washington and Beijing had earlier prompted investors to buy the U.S. dollar in the belief that the United States has less to lose from the dispute. Gold has lost out to the dollar in a battle for safe-haven flows. The dollar index touched a three-week high of 95.74 last week. In addition, a sell-off in the Chinese yuan made the metal more expensive for buyers from the world’s top consumer of the metal. But yesterday’s reversal in the greenback made gold less expensive for holders of other currencies. Meanwhile, the U.S. central bank is widely expected to raise benchmark interest rates at its September meeting and expectations are growing for one more hike in December on positive economic data. Higher rates increase bond yields, making non-yielding bullion less attractive, and tend to boost the dollar, in which gold is priced. Gold has fallen more than 10 percent from a peak in April, under pressure from rising U.S. interest rates amid intensifying global trade tensions. Spot silver increased 0.9 percent at $14.21 per ounce, having touched $13.90 in the previous session, its lowest since January 2016.

 

 

 

Traditional Agriculture

Wheat recouped some of the last session’s steep losses which were triggered by a lack of demand for U.S cargoes and selling by investors. Soybean futures eased for a second session yesterday.

 

 

Futures Settlement Price Wednesday, September 12, 2018
Instrument Contract Open High Low Settlement Net Change
DJIA DJM18 26002 26160 25937 26012 13
S & P 500 SPM18 2890 2895.25 2879.5 2888.5 -1.25
NASDAQ 100 NDM18 7514.75 7539.5 7424.5 7485.5 -26.5
Hang Seng HSH18 26343 26432 26166 26335 32
Nikkei 225 NKH18 22700 22720 22525 22625 -35
FTSE 100 FTH18 7282 7324.5 7249.5 7294 16.5
Gold GCJ18 1203 1213.6 1197.5 1211.3 7.8
Silver SIK18 1415 1430.5 1409 1427.5 11.5
Copper HGK18 262.25 268.8 260.65 268.4 5.95
Crude Oil CLK18 69.85 71.23 69.46 70.27 0.4
Wheat WK18 519.25 529 500 506.25 -11.75
Soybeans SK18 830.75 844.5 821 839.25 7.5
Corn CK18 365.75 365.75 350.5 352.25 -14.25

 

 

Daily Swings  (The Pivot Levels)
  Trading Range  
Contract S3 S2 S1 Pivot R1 R2
DJM18 25690 25813 25913 26036 26136 26259 26359
SPM18 2864.50 2872.00 2880.25 2887.75 2896.00 2903.50 2911.75
NDM18 7311.83 7368.17 7426.83 7483.17 7541.83 7598.17 7656.83
HSH18 25924 26045 26190 26311 26456 26577 26722
NKH18 22332 22428 22527 22623 22722 22818 22917
FTH18 7179.17 7214.33 7254.17 7289.33 7329.17 7364.33 7404.17
GCJ18 1185.23 1191.37 1201.33 1207.47 1217.43 1223.57 1233.53
SIK18 1392.67 1400.83 1414.17 1422.33 1435.67 1443.83 1457.17
HGK18 254.95 257.80 263.10 265.95 271.25 274.10 279.40
CLK18 67.64 68.55 69.41 70.32 71.18 72.09 72.95
WK18 465.50 482.75 494.50 511.75 523.50 540.75 552.50
SK18 801.83 811.42 825.33 834.92 848.83 858.42 872.33
CK18 331.33 340.92 346.58 356.17 361.83 371.42 377.08

 

 

 

 Source: – News & Quotes (Courtesy:  Reuters)                                                                    

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