Real time trading in Polymers, Base Oils, TiO2 and Nanomaterials
Today’s Economic Events
US NOV F Wholesale Inventories exp: 0.5% prev: 0.8%
09:30 UK DEC Retail Sales (MoM) exp: -0.8% prev: 1.2%
14:15 US DEC Industrial Capacity Utilization exp: 78.4% prev: 78.48%
14:15 US DEC Industrial Production (MoM) exp: 0.1% prev: 0.6%
15:00 US JAN P U. of Michigan Confidence exp: 96.4 prev: 98.3
General Market Comment
US indices closed higher on Thursday after U.S. Treasury Secretary Steven Mnuchin discussed the possibility of lifting some or all tariffs imposed on Chinese imports. Shares in the Capital Goods (+1.79%), Materials (+1.68%) and Transportation (+1.45%) sectors lifted the market higher. On the economic data front, initial jobless claims decreased to 213k in week ended January 12th (estimated 220k) from 216k in the previous week. Continuing claims increased to 1.737M in week ended January 5th (forecasted 1.734M) compared to 1.719M in the prior week. In other news, the Philadelphia Federal Business Outlook jumped to 17 in January (expected 9.5) from 9.1 in December. Finally, the Bloomberg consumer comfort index slightly declined to 58.1 in week ended January 13th vs. 58.5 a week earlier. The S&P 500 (2,635.96) stays above its 20d moving average (2,526.40 – positive slope) and crosses above 50d moving average (2,635.96 – negative slope).
Today’s Economic Events
US DEC Monthly Budget Satement (B USD) exp: -8 prev: -205
US DEC Retail Sales exp: 0.2% prev: 0.2%
US DEC Retail Sales less Autos exp: 0.1% prev: 0.2%
US NOV Business Inventories exp: 0.3% prev: 0.6%
US NOV Construction Spending (MoM) exp: 0.2% prev: -0.1%
US NOV F Durable Goods Ex Transportation exp: NA prev: -0.3%
US NOV F Durable Goods Orders exp: NA prev: 0.8%
US NOV Factory Orders exp: 0.2% prev: -2.1%
US NOV New Home Sales (k) exp: 570 prev: 544
US NOV Trade Balance (B USD) exp: -54.2 prev: -55.5
10:00 EC DEC Euro-Zone: CPI (MoM) exp: 0% prev: 0%
13:30 US DEC Bulding Permits (k) exp: 1284 prev: 1328
13:30 US DEC Housing Starts (k) exp: 1253 prev: 1256
13:30 US JAN Philadelphia Fed. exp: 8.5 prev: 9.1
13:30 US W1 Initial Jobless Claims (k) exp: 224 prev: 216
General Market Comment
US indices closed higher on Wednesday, led by shares in the Banks (+2.72%), Diversified Financials (+2.19%) and Insurance (+0.96%) sectors. On the economic data front, MBA mortgage applications advanced by 13.5% in week ended January 11th from a jump of 23.5% in the prior week. Import price index declined by 1% MoM in December (estimated -1.3%) from a decrease of 1.9% in November. In other news, the Fed released their Beige Book stating that the economic activity increased in most of the US reporting modest to moderate growth while wages increased along with material prices. The S&P 500 (2,616.10) stays above its 20d moving average (2,521.91 – positive slope) but remains below 50d moving average (2,628.54 – negative slope).
Today’s Economic Events
07:00 GE DEC F Consumer Price Index (MoM) exp: 0.1% prev: 0.1%
07:00 GE DEC F CPI – EU Harmonised (MoM) exp: 0.3% prev: 0.3%
09:30 UK DEC CPI – EU Harmonised (MoM) exp: 0.2% prev: 0.2%
09:30 UK DEC PPI – Input (MoM) exp: -1.7% prev: -2.3%
09:30 UK DEC PPI – Output (MoM) exp: 0% prev: 0.2%
13:30 US DEC Retail Sales exp: 0.3% prev: 0.2%
13:30 US DEC Retail Sales less Autos exp: 0.2% prev: 0.2%
15:00 US JAN NAHB Housing Market exp: 56 prev: 56
15:00 US NOV Business Inventories exp: 0.3% prev: 0.6%
15:30 US W1 Crude Oil Inventories (WoW chg) exp: NA prev: -1680
General Market Comment
US indices closed higher on Tuesday, led by shares in the Health Care Equipment & Services (+2.21%), Media (+2.21%) and Software & Services (+1.77%) sectors. On the economic data front, empire manufacturing index fell to 3.9 in January (estimated 10) from 11.5 in December. In other news, PPI final demand decreased by 0.2% MoM in December (estimated -0.1%) compared to an improvement of 0.1% in November. The S&P 500 (2,610.30) stays above its 20d moving average (2,518.40 – flat slope) but remains below 50d moving average (2,631.03 – negative slope).
Today’s Economic Events
07:45 FR DEC F Consumer Price Index (MoM) exp: 0% prev: 0%
07:45 FR DEC F CPI – EU Harmonised (MoM) exp: 0.1% prev: 0.1%
07:45 FR NOV Central Govt. Balance (B EUR) exp: NA prev: -87
10:00 EC NOV Euro-Zone External Trade Balance (M EUR) exp: NA prev: 13952
13:30 US DEC PPI – Ex Food & Energy (MoM) exp: 0.1% prev: 0.3%
13:30 US DEC Producer Price Index (MoM) exp: -0.1% prev: 0.1%
13:30 US JAN Empire Manufacturing exp: 12 prev: 10.9
General Market Comment
US indices closed lower on Monday, dragged my shares in the Utilities (-2.23%), Pharmaceuticals, Biotechnology & Life Sciences (-1.54%) and Technology Hardware & Equipment (-1.25%) sectors. On the economic data front, there was no news to report. The S&P 500 (2,582.61) stays above its 20d moving average (2,517.89 – negative slope) but remains below 50d moving average (2,633.06 – flat slope). European markets are expected to start on a positive note.
Foreign Exchange
Today’s Economic Events
US DEC Monthly Budget Satement (B USD) exp: -7 prev: -205
US NOV Construction Spending (MoM) exp: 0.2% prev: -0.1%
US NOV F Durable Goods Ex Transportation exp: NA prev: -0.3%
US NOV F Durable Goods Orders exp: NA prev: 0.8%
US NOV Factory Orders exp: 0.2% prev: -2.1%
US NOV New Home Sales (k) exp: 570 prev: 544
US NOV P Wholesale Inventories exp: 0.5% prev: 0.8%
US NOV Trade Balance (B USD) exp: -54.2 prev: -55.5
07:00 GE DEC Wholesale Price Index (MoM) exp: NA prev: 0.2%
10:00 EC NOV Euro-Zone: Industrial Production (MoM) exp: -1.2% prev: 0.2%
General Market Comment
US indices closed lower to finish the week on Friday, pressured by shares in the Energy (-0.63%), Technology Hardware & Equipment (-0.58%) and Media (-0.48%) sectors. On the economic data front, CPI decreased by 0.1% MoM in December, in-line with estimates, vs. unchanged in November. The S&P 500 (2,596.26) stays above its 20d moving average (2,521.28 – negative slope) but remains below 50d moving average (2,635.06 – flat slope).
European markets are expected to open on a negative note.