Month: September 2018

General Market Comment

US indices closed mixed on Wednesday. Shares in the Commercial & Professional Services (-2.51%), Utilities (-2.12%) and Telecommunication Services (-1.35%) sectors closed on a negative note while shares in the Banks (+2.28%), Automobiles & Components (+2.01%) and Diversified Financials (+1.38%) sectors gained traction. On the economic data front, current account deficit narrowed to $101.5B in 2Q (forecasted $103.4B) compared to $121.7B in 1Q. Also, housing starts rose to 1.282M units in August (expected 1.238M) from 1.174M units in July, while building permits fell to 1.229M in August (estimated 1.31M) vs. 1.303M a month earlier. The S&P 500 (2,907.95) remains above its 20d moving average (2,890.18 – positive slope) and 50d moving average (2,851.62 – positive slope). read more

Today’s Economic Events

09:30 UK AUG Retail Sales (MoM) exp: -0.2% prev: 0.9%
13:30 US SEP Philadelphia Fed. exp: 18 prev: 11.9
13:30 US W36 Initial Jobless Claims (k) exp: 209 prev: 204
15:00 EC SEP A Euro-Zone: Consumer Confidence exp: -1.9 prev: -1.9
15:00 US AUG Existing Home Sales (M) exp: 5.4 prev: 5.3
15:00 US AUG Leading Indicators exp: 0.5% prev: 0.6%

Commodity Closing – Europe/Oil-Gas Majors 14.09.18

Today’s Economic Events

10:00 EC JUL Euro-Zone External Trade Balance (M EUR) exp: NA prev: 22510
13:30 US AUG Retail Sales exp: 0.4% prev: 0.5%
13:30 US AUG Retail Sales less Autos exp: 0.5% prev: 0.6%
14:15 US AUG Industrial Capacity Utilization exp: 78.2% prev: 78.05%
14:15 US AUG Industrial Production (MoM) exp: 0.3% prev: 0.1%
15:00 US JUL Business Inventories exp: 0.5% prev: 0.1%
15:00 US SEP P U. of Michigan Confidence exp: 96.8 prev: 96.2

General Market Comment

US indices closed mixed on Thursday. Shares in the Food & Staples Retailing (-1.27%), Banks (-0.73%) and Transportation (-0.52%) sectors ended on a negative note while shares in the Technology Hardware & Equipment (+1.94%), Semiconductors & Semiconductor Equipment (+1.72%) and Media (+1.68%) sectors gained momentum. On the economic data front, CPI improved by 0.2% MoM in August (estimated 0.3%) from an increase of 0.2% in July while CPI YoY advanced by 2.7% in August (forecasted 2.8%) compared to 2.9% last year. In other news, initial jobless claims reached 204k in week ended on September 8th (estimated 210k) from 205k in the previous week. Continuing claims lowered to 1.696M in week ended September 1st (expected 1.71M) vs. 1.711M a week earlier. Also, the Bloomberg consumer comfort index advanced to 59 in week ended September 9th compared to 58 the prior week. Finally, the monthly deficit widened to $214.1B in August (estimated $211B) from $107.7B in July. The S&P 500 (2,904.18) remains above its 20d moving average (2,880.42 – positive slope) and 50d moving average (2,840.99 – positive slope). read more

Commodity Closing – Europe/Oil-Gas Majors 07.09.18

Brent Crude Technical Snap

Pivot: 77.00. Short positions below 77.00 with targets at 76.15 & 75.65 in extension. Above 77.00 look for further upside with 77.45 & 77.80 as targets. RSI advocates for further decline.

Today’s Economic Events

US AUG Average Hourly Earnings (MoM) exp: NA prev: 0.1%
US AUG Average Weekly Hours exp: NA prev: 33.8
07:00 GE JUL Current Account (B EUR) exp: NA prev: 26.2
07:00 GE JUL Exports (MoM) exp: 0.1% prev: 0.1%
07:00 GE JUL Imports (MoM) exp: -0.1% prev: 1.3%
07:00 GE JUL Industrial Production (MoM) exp: -0.1% prev: -0.9%
07:00 GE JUL Trade Balance (B EUR) exp: 19.4 prev: 21.8
07:45 FR JUL Central Govt. Balance (B EUR) exp: NA prev: -58.9
07:45 FR JUL Trade Balance (M) exp: NA prev: -6248
10:00 EC 2Q F Euro-Zone: GDP (QoQ) exp: 0.4% prev: 0.4%
13:30 US AUG Change in Manufact. Payrolls (k) exp: 26 prev: 37
13:30 US AUG Change in Nonfarm Payrolls (k) exp: 195 prev: 157
13:30 US AUG Unemployment Rate exp: 3.8% prev: 3.9% read more

General Market Comment

US indices closed mixed on Thursday. Shares in the Semiconductors & Semiconductor Equipment (-2.34%), Energy (-1.93%) and Technology Hardware & Equipment (-1.22%) sectors closed lower while shares in the Telecommunication Services (+0.73%), Capital Goods (+0.53%) and Food, Beverage & Tobacco (+0.45%) sectors gained traction. On the economic data front, ADP employment change declined to 163k jobs in August (estimated 200k) from 217k in the previous month. Also, initial jobless claims improved to 203k in week ended September 1st (forecasted 213k) compared to 213k a week earlier. Continuing claims remained relatively unchanged at 1.707M in week ended August 25th (expected 1.72M) from 1.71M the week before. In other news, the Bloomberg consumer comfort index slightly decreased to 58 in week ended September 2nd from 58.3 the week prior. The Markit US services PMI declined to 54.8 in August (estimated 55.2) compared to 55.2 in July while Markit US Composite PMI lowered to 54.7 in August vs. 55 a month earlier. Finally, factory orders decreased by 0.8% in July (forecasted -0.6%) from an increase of 0.6% in June while durable goods orders fell by 1.7% in July, in-line with estimates, from a decline of 1.7% the month prior. The S&P 500 (2,878.05) remains above its 20d moving average (2,867.25 – positive slope) and 50d moving average (2,823.88 – positive slope). read more

Commodity Closing – Europe/Oil-Gas Majors 06.09.18