Month: October 2018

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

General Market Comment

US indices closed lower on Friday as the markets continued to be under pressure. Shares in the Semiconductors & Semiconductor Equipment (-2.37%), Food & Staples Retailing (-2.09%) and Technology Hardware & Equipment (-1.6%) sectors were the biggest losers. On the economic data front, the trade deficit widened to $53.2B in August (estimated $53.6B) from $50.0B in July. Nonfarm payrolls rose 134K in September (forecast +185k) compared to +270k in August. In other news, unemployment rate improved to 3.7% in September (expected 3.8%) from 3.9% a month earlier. The S&P 500 (2,885.57) stays below its 20d moving average (2,907.71 – flat slope) but remains above 50d moving average (2,877.14 – positive slope). read more

Today’s Economic Events

US SEP Average Hourly Earnings (MoM) exp: NA prev: 0.3%
US SEP Average Weekly Hours exp: NA prev: 33.8
07:00 GE AUG Producer Price Index (MoM) exp: 0.2% prev: 0.2%
07:45 FR AUG Central Govt. Balance (B EUR) exp: NA prev: -82.8
07:45 FR AUG Trade Balance (M) exp: NA prev: -3490
13:30 US AUG Trade Balance (B USD) exp: -52.7 prev: -50.1
13:30 US SEP Change in Manufact. Payrolls (k) exp: 11 prev: -3
13:30 US SEP Change in Nonfarm Payrolls (k) exp: 181 prev: 201
13:30 US SEP Unemployment Rate exp: 3.8% prev: 3.9%
20:00 US AUG Consumer Credit (B USD) exp: 14.6 prev: 16.6 read more

General Market Comment

US indices closed lower on Thursday as the US 10-year yield hits the highest level since 2011 while the 30-year yield reached its highest level since 2014. Shares in the Consumer Durables & Apparel (-2.55%), Media (-2.07%) and Software & Services (-1.97%) sectors took a hit. On the economic data front, initial jobless claims fell to 207K in the week ended September 29 (vs 215K expected) from 215K in the previous week. Continuing claims decreased to 1.65M in the week ended September 22 (vs 1.665M expected) from 1.663M a week earlier. The S&P 500 (2,901.61) breaks below its 20d moving average (2,907.01 – positive slope) but remains above 50d moving average (2,876.17 – positive slope). read more

Commodity Closing – Europe/Oil-Gas Majors 04.10.18

Oil held just below four-year highs on Thursday, supported by the imminent loss of Iranian supply as a consequence of impending U.S. sanctions. Levels were checked on the upside by the prospect of a rapid production increase from Saudi Arabia and Russia. Meanwhile, Oil traders have piled into wagers that U.S. crude oil could surge to $100 a barrel by next year, a milestone that until recently many considered unthinkable due to record U.S. production growth and relatively flat global demand. At the moment momentum suggests traders will seek to push crude higher, but against a backdrop of increasing trade tensions and the worry of a slowing global economy, the bullish trend seems suspect. read more

Today’s Economic Events

13:30 US W38 Initial Jobless Claims (k) exp: 215 prev: 214
15:00 US AUG F Durable Goods Ex Transportation exp: NA prev: 0.1%
15:00 US AUG F Durable Goods Orders exp: NA prev: 4.5%
15:00 US AUG Factory Orders exp: 2% prev: -0.8%

General Market Comment

US indices closed higher on Wednesday as the Dow reached another record high for the second day straight. Shares in the Banks (+1.25%), Technology Hardware & Equipment (+0.93%) and Energy (+0.82%) sectors jumped higher. On the economic data front, ADP employment added 230K jobs in September (vs +184K expected, +168K in August). In other news, Markit U.S. Services PMI fell to 53.5 in September (vs 53.0 expected) from 54.8 in August, and Markit U.S. Composite PMI dropped to 53.9 from 54.7. Finally, ISM non-manufacturing PMI climbed to 61.6 in September (vs 58.0 expected) from 58.5 in August. The S&P 500 (2,925.51) remains above its 20d moving average (2,905.84 – positive slope) and 50d moving average (2,875.06 – positive slope). read more

Commodity Closing – Europe/Oil-Gas Majors 03.10.18

Oil rose on Wednesday, touching a fresh four-year high as the market focused on upcoming U.S. sanctions on Iran and shrugged off a surprisingly big build in U.S. crude stockpiles and reports of higher Saudi Arabian and Russian production.

Today’s Economic Events

08:50 FR SEP F Markit Composite PMI exp: 53.6 prev: 53.6
08:50 FR SEP F Markit Services PMI exp: 54.3 prev: 54.3
09:00 EU SEP F Markit Composite PMI exp: 54.2 prev: 54.2
09:00 EU SEP F Markit Services PMI exp: 54.7 prev: 54.7
10:00 EC AUG Euro-Zone: Retail Trade (MoM) exp: 0.2% prev: -0.2%
13:15 US SEP ADP Employment Report (k) exp: 182 prev: 163
14:45 US SEP F Markit Composite PMI exp: NA prev: 53.4
14:45 US SEP F Markit Services PMI exp: NA prev: 52.9
15:00 US SEP ISM – Non Manufacturing exp: 58.1 prev: 58.5
15:30 US W38 Crude Oil Inventories (WoW chg) exp: NA prev: 1852 read more