Month: October 2018

General Market Comment

US indices closed higher on Friday despite a negative week. Shares in the Software & Services (+3.42%), Technology Hardware & Equipment (+3.33%) and Retailing (+2.75%) sectors were under pressure. On the economic data front, import price index advanced by 0.5% MoM in September (estimated 0.2%) from a decline of 0.4%. In other news, the University of Michigan sentiment index reached a preliminary estimate of 99 in October (estimated 100.5) from 100.1 in September. The S&P 500 (2,767.13) stays above its 20d moving average (2,751.92 – flat slope) but below its 50d moving average (2,797.98 – negative slope). read more

Commodity Closing – Europe/Oil-Gas Majors 11.10.18

Oil prices gave back early gains and turned lower on Friday after the International Energy Agency (IEA) deemed supply adequate and the outlook for demand weakening, sinking even as equities rebounded from a slump Thursday.

NYMEX Crude Oil	71.01 USD	+0.04	+0.06%
ICE Brent Crude	79.74 USD	-0.52	-0.65%
NYMEX RBOB Gasoline	1.93 USD	-0.01	-0.36%
Dubai Crude Spot	77.86 USD	-0.83	-1.07%
ICE Gas Oil	710.75 USD	-10.75	-1.51%
NYMEX No2 Heating Oil	2.31 USD	-0.02	-1.00%
NYMEX Nat Gas	3.17 USD	-0.05	-1.58%
ICE NBP Nat Gas	71.70 GBP	+2.57	+3.58%

Today’s Economic Events

07:00 GE SEP F Consumer Price Index (MoM) exp: 0.4% prev: 0.4%
07:00 GE SEP F CPI – EU Harmonised (MoM) exp: 0.4% prev: 0.4%
10:00 EC AUG Euro-Zone: Industrial Production (MoM) exp: 0.4% prev: -0.8%
15:00 US OCT P U. of Michigan Confidence exp: 100.6 prev: 100.1

General Market Comment

US indices closed lower on Thursday for the sixth day straight as the Dow Jones dropped by 546 points. Shares in the Insurance (-3.69%), Pharmaceuticals, Biotechnology & Life Sciences (-3.1%) and Energy (-3.09%) sectors dragged the market lower. On the economic data front, CPI improved by 0.1% MoM in September (estimated 0.2%) from 0.2% in the prior month. In other news, initial jobless claims increased to 214k in week ended October 6th (forecasted 207k) from 207k in the previous week. Continuing claims reached 1.66M in week ended September 29t, in-line with expectations, compared to 1.656M a week earlier. Finally, the Bloomberg consumer comfort index diminished to 59.5 in week ended October 7th vs. 61.6 in the prior week. The S&P 500 (2,728.37) stays below both 20d moving average (2,775.46 – negative slope) and 50d moving average (2,833.29 – negative slope). read more

Commodity Closing – Europe/Oil-Gas Majors 11.10.18

Oil prices slumped to two-week lows on Thursday as global stock markets fell, with investor sentiment made more bearish by an industry report showing U.S. crude inventories rising more than expected.

NYMEX Crude Oil	71.90 USD	-1.27	-1.77%
ICE Brent Crude	81.52 USD	-1.57	-1.93%
NYMEX RBOB Gasoline	1.97 USD	-0.05	-2.39%
Dubai Crude Spot	79.55 USD	-0.86	-1.08%
ICE Gas Oil	726.50 USD	-12.00	-1.65%
NYMEX No2 Heating Oil	2.36 USD	-0.04	-1.66%
NYMEX Nat Gas	3.19 USD	-0.10	-3.01%
ICE NBP Nat Gas	69.20 GBP	-0.93	-1.34%

Today’s Economic Events

09:30 UK AUG Industrial Production (MoM) exp: 0.2% prev: 0.1%
09:30 UK AUG Manufacturing Production (MoM) exp: 0.1% prev: -0.2%
09:30 UK AUG Trade Balance in Goods (M GBP) exp: -9573 prev: -9973
09:30 UK AUG Trade Balance Non EU (M GBP) exp: -3141 prev: -2800
13:30 US SEP PPI – Ex Food & Energy (MoM) exp: 0.2% prev: -0.1%
13:30 US SEP Producer Price Index (MoM) exp: 0.2% prev: -0.1%
15:00 US AUG F Wholesale Inventories exp: NA prev: 0.8%

General Market Comment

US indices closed mixed on Tuesday. Shares in the Automobiles & Components (-3.91%), Materials (-3.4%) and Capital Goods (-1.66%) sectors declined throughout the day while shares in the Energy (+2.41%), Consumer Services (+0.85%) and Technology Hardware & Equipment (+0.79%) sectors gained a bit of traction. On the economic data front, the NFIB small business optimism index slipped to 107.9 in September (estimated 108.3) from 108.8 in August. The S&P 500 (2,880.34) stays below its 20d moving average (2,907.70 – flat slope) but remains above 50d moving average (2,880.00 – positive slope). read more

Today’s Economic Events

07:00 GE AUG Current Account (B EUR) exp: NA prev: 15.3
07:00 GE AUG Exports (MoM) exp: 0.3% prev: -0.8%
07:00 GE AUG Imports (MoM) exp: 0% prev: 2.8%
07:00 GE AUG Trade Balance (B EUR) exp: 16.3 prev: 16.5

General Market Comment

US indices closed mixed on Monday. Shares in the Software & Services (-1.63%), Semiconductors & Semiconductor Equipment (-0.91%) and Health Care Equipment & Services (-0.6%) sectors closed lower while shares in the Food & Staples Retailing (+1.76%), Food, Beverage & Tobacco (+1.49%) and Real Estate (+1.32%) sectors gained momentum. The S&P 500 (2,884.43) stays below its 20d moving average (2,908.07 – flat slope) but remains above 50d moving average (2,878.43 – positive slope). read more

Commodity Closing – Europe/Oil-Gas Majors 09.10.18

U.S. crude prices were modestly higher on Tuesday as nearly one-fifth of daily oil production was lost from offshore Gulf of Mexico wells due to Hurricane Michael. Contributing to the upward move was the noted fall in production from Iran.

NYMEX Crude Oil	74.74 USD	+0.45	+0.60%
ICE Brent Crude	84.70 USD	+0.79	+0.93%
NYMEX RBOB Gasoline	2.08 USD	-0.02	-0.75%
Dubai Crude Spot	82.66 USD	+0.74	+0.90%
ICE Gas Oil	742.25 USD	+6.50	+0.88%
NYMEX No2 Heating Oil	2.41 USD	+0.02	+0.66%
NYMEX Nat Gas	3.27 USD	+0.00	+0.06%
ICE NBP Nat Gas	71.61 GBP	-1.46	-2.04%