Month: November 2018

Commodity Closing – Europe/Oil-Gas Majors 02.11.18

The United States said on Friday it will temporarily allow eight importers to keep buying Iranian oil when it reimposes sanctions on Monday to try to force Iran to curb its nuclear, missile and regional activities.

Today’s Economic Events

US OCT Average Hourly Earnings (MoM) exp: NA prev: 0.3%
US OCT Average Weekly Hours exp: NA prev: 33.7
07:00 GE SEP Import Prices (MoM) exp: 0.5% prev: 0%
07:45 FR SEP Central Govt. Balance (B EUR) exp: NA prev: -97.3
08:50 FR OCT F Markit Manufacturing PMI exp: 51.2 prev: 51.2
09:00 EU OCT F Markit Manufacturing exp: 52.1 prev: 52.1
12:30 US OCT Change in Manufact. Payrolls (k) exp: 15 prev: 18
12:30 US OCT Change in Nonfarm Payrolls (k) exp: 195 prev: 134
12:30 US OCT Unemployment Rate exp: 3.7% prev: 3.7%
12:30 US SEP Trade Balance (B USD) exp: -54 prev: -53.2
14:00 US SEP F Durable Goods Ex Transportation exp: NA prev: 0.1%
14:00 US SEP F Durable Goods Orders exp: NA prev: 0.8%
14:00 US SEP Factory Orders exp: 0.3% prev: 2.3% read more

General Market Comment

US indices closed higher on Thursday lifted by shares in the Semiconductors & Semiconductor Equipment (+3.86%), Materials (+3.02%) and Consumer Durables & Apparel (+2.76%) sectors. On the economic data front, U.S. jobless claims fell 2000 to 214K (212K estimate) in the week ending Oct 27th compared to a revised 216K prior. Continuing claims for the week ending Oct 20 came in at 1631K (1640K estimate) vs a revised 1638K in the prior period. Markit US manufacturing PMI fell to 55.7 (55.8 estimate) in Oct compared to 55.9 in Sept. Finally, the ISM manufacturing index fell to 57.7 in Oct, below the 59 estimate compared to 59.8 in Sept. The S&P 500 (2,740.37) remains at levels below both its 20d moving average (2,756.55 – negative slope) and 50d moving average (2,843.54 – negative slope). read more

Commodity Closing – Europe/Oil-Gas Majors 01.11.18

Oil fell on Thursday, touching its lowest levels since June, due to rising concerns over weaker global demand and increased supply from the world’s major oil producers.

Today’s Economic Events

US OCT Total Vehicule Sales (M) exp: 17.1 prev: 17.4
12:00 UK BoE: Rates decision exp: 0.75% prev: 0.75%
12:30 US 3Q P Nonfarm Productivity exp: 2.3% prev: 2.9%
12:30 US 3Q P Unit Labor Costs exp: 1.2% prev: -1%
12:30 US W42 Initial Jobless Claims (k) exp: 212 prev: 215
13:45 US OCT F Markit Manufacturing PMI exp: 55.7 prev: 55.9
14:00 US OCT ISM – Manufacturing exp: 59 prev: 59.8
14:00 US OCT ISM – Price Paid exp: NA prev: 66.9
14:00 US SEP Construction Spending (MoM) exp: -0.1% prev: 0.1% read more

General Market Comment

US indices ended the month on a positive note on Wednesday lifted by shares in the Automobiles & Components (+4.25%), Software & Services (+2.94%) and Media (+2.82%) sectors. The S&P 500 still posted its biggest monthly loss since 2011. On the economic data front, U.S. companies added 227K jobs in October which was above the 187K estimate compared to a revised 218K in Sept. MBA mortgage applications fell 2.5% last week compared to a gain of 4.9% in the week prior. Finally, the Chicago purchasing manager index declined to 58.4 in Oct (60.00 estimate) vs 60.4 in Sept. The S&P 500 (2,711.74) remains at levels below both its 20d moving average (2,764.61 – negative slope) and 50d moving average (2,845.97 – negative slope). read more