Real time trading in Polymers, Base Oils, TiO2 and Nanomaterials
Today’s Economic Events
07:45 FR 2Q P GDP (QoQ) exp: 0.2% prev: 0.2%
07:45 FR JUL Households Consumption (MoM) exp: NA prev: 0.1%
13:30 US 2Q S GDP (QoQ) exp: 4% prev: 4.1%
13:30 US 2Q S GDP Price (QoQ) exp: 3% prev: 3%
13:30 US 2Q S Personal Consumption exp: NA prev: 4%
15:30 US W33 Crude Oil Inventories (WoW chg) exp: NA prev: -5836
General Market Comment
US indices closed higher on Tuesday, led by shares in the Real Estate (+1.19%), Technology Hardware & Equipment (+0.75%) and Food & Staples Retailing (+0.57%) sectors. On the economic data front, wholesale inventories MoM increased by 0.7% in a preliminary estimate in July (estimated +0.2%) from +0.1% in June. In addition, the Richmond Fed’s manufacturing index increased to 24 in August (estimated 17) compared to 20 from the prior month. Finally, the Conference Board consumer confidence index increased to 133.4 in August, above the estimate of 126.6, from a revised 127.9 previously. The S&P 500 (2,897.52) remains above its 20d moving average (2,850.66 – positive slope) and 50d moving average (2,805.77 – positive slope).
| NYMEX Crude Oil |
68.39 USD
|
-0.48
|
-0.70% | |||
| ICE Brent Crude |
75.93 USD
|
-0.28
|
-0.37% | |||
| NYMEX RBOB Gasoline |
2.08 USD
|
-0.01
|
-0.61% | |||
| Dubai Crude Spot |
74.59 USD
|
-0.70
|
-0.94% | |||
| ICE Gas Oil |
680.00 USD
|
+1.25
|
+0.18% | |||
| NYMEX No2 Heating Oil |
2.21 USD
|
-0.00
|
-0.06% | |||
| NYMEX Nat Gas |
2.86 USD
|
-0.02
|
-0.70% | |||
| ICE NBP Nat Gas |
68.30 GBP
|
+1.78
|
+2.61% |
Brent Crude Technical Snap
Pivot: 75.65. Long positions above 75.65 with targets at 76.58 & 77.00 in extension. Below 75.65 look for further downside with 75.00 & 74.25 as targets. RSI is mixed with a bullish bias.
Today’s Economic Events
07:45 FR AUG Consumer Confidence exp: 97 prev: 97
13:30 US JUL P Wholesale Inventories exp: NA prev: 0.1%
15:00 US AUG Consumer Confidence exp: 126.4 prev: 127.4
General Market Comment
US indices closed higher on Monday as the Nasdaq reached a new record high. Shares in the Automobiles & Components (+3.87%), Semiconductors & Semiconductor Equipment (+1.55%) and Materials (+1.47%) sectors gained traction. On the economic data front, the Chicago Fed national activity index decreased to 0.13 in July (estimated 0.45) from a revised 0.48 in June. The S&P 500 (2,896.74) remains above its 20d moving average (2,846.60 – positive slope) and 50d moving average (2,803.30 – positive slope).
| NYMEX Crude Oil |
68.73 USD
|
+0.01
|
+0.01% | |||
| ICE Brent Crude |
75.95 USD
|
+0.13
|
+0.17% | |||
| NYMEX RBOB Gasoline |
2.08 USD
|
+0.01
|
+0.24% | |||
| Dubai Crude Spot |
75.05 USD
|
+0.22
|
+0.29% | |||
| ICE Gas Oil |
679.25 USD
|
+0.00
|
0.00% | |||
| NYMEX No2 Heating Oil |
2.21 USD
|
+0.01
|
+0.30% | |||
| NYMEX Nat Gas |
2.89 USD
|
-0.03
|
-0.86% | |||
| ICE NBP Nat Gas |
66.52 GBP
|
+0.00
|
0.00% |
Brent Crude Technical Snap
Pivot: 76.00. Short positions below 76.00 with targets at 75.30 & 74.85 in extension. Above 76.00 look for further upside with 76.40 & 77.00 as targets. As long as 76.00 is resistance, look for choppy price action with a bearish bias.
Today’s Economic Events
GE JUL Import Prices (MoM) exp: 0% prev: 0.5%
GE JUL Retail Sales (MoM) exp: -0.1% prev: 0.9%
09:00 GE AUG IFO – Business Climate exp: 102.5 prev: 101.7
09:00 GE AUG IFO – Current Assessment exp: 105.5 prev: 105.3
09:00 GE AUG IFO – Expectations exp: 98.5 prev: 98.2
General Market Comment
US indices closed higher on Friday as the S&P500 reached a new record high. Shares in the Semiconductors & Semiconductor Equipment (+1.41%), Software & Services (+1.33%) and Media (+1.27%) sectors ended on a positive note. On the economic data front, durable goods orders decreased in the preliminary estimate of 1.7% in July (estimated -1%) from a revised 0.7% in the previous month. The S&P 500 (2,874.69) remains above its 20d moving average (2,841.89 – positive slope) and 50d moving average (2,800.96 – positive slope).