General Market Comment 05.04.19

U.S. indices closed higher to finish the week on Friday, boosted by shares in the Energy (+1.69%), Utilities (+1%) and Real Estate (+0.76%) sectors. On the economic data front, nonfarm payrolls increased 196K in March (estimated +177K, +33K in February), while the unemployment rate remained unchanged at 3.8%. The S&P 500 (2,892.74) stays above both its 20d moving average (2,830.70 – positive slope) and 50d moving average (2,778.80 – positive slope).

European markets are expected to start on a negative note. read more

BRENT Crude Technical Snap 05.04.19

BRENT Crude Technical Snap (Daily)

Pivot: 68.90

Our preference: long positions above 68.90 with targets at 69.60 & 70.00 in extension.

Alternative scenario: below 68.90 look for further downside with 68.60 & 68.20 as targets.

Comment: the RSI is mixed to bullish.

Economic Calendar 05.04.19

Today’s Economic Events

US MAR Average Hourly Earnings (MoM) exp: NA prev: 0.3%
US MAR Average Weekly Hours exp: NA prev: 33.6
07:00 GE FEB Industrial Production (MoM) exp: 0.4% prev: -0.8%
07:45 FR FEB Trade Balance (M) exp: -4582 prev: -4195
13:30 US MAR Change in Manufact. Payrolls (k) exp: 11 prev: 4
13:30 US MAR Change in Nonfarm Payrolls (k) exp: 186 prev: 20
13:30 US MAR Unemployment Rate exp: 3.8% prev: 3.8%
20:00 US FEB Consumer Credit (B USD) exp: 16.9 prev: 17

General Market Comment 04.04.19

US indices closed mixed on Thursday. Shares in the Software & Services (-0.79%), Commercial & Professional Services (-0.71%) and Pharmaceuticals, Biotechnology & Life Sciences (-0.58%) sectors lost traction while shares in the Consumer Durables & Apparel (+1.62%), Automobiles & Components (+1.35%) and Materials (+1.01%) sectors gained momentum. On the economic data front, initial jobless claims declined to 202k in week ended March 30th (estimated 215k) from 212k in the previous week while continuing claims reached 1.717M in week ended March 23rd (forecasted 1.752M) compared to 1.755M in the prior week. In other news, the Bloomberg consumer comfort index declined to 58.9 in week ended March 31st vs. 60 a week earlier. The S&P 500 (2,879.39) stays above both its 20d moving average (2,823.22 – positive slope) and 50d moving average (2,773.79 – positive slope).

European markets are expected to start on a positive note. read more

BRENT Crude Technical Snap 04.04.19

BRENT Crude Technical Snap (Daily)

Pivot: 69.60

Our preference: short positions below 69.60 with targets at 68.80 & 68.20 in extension.

Alternative scenario: above 69.60 look for further upside with 69.95 & 70.30 as targets.

Comment: the RSI has just struck against its neutrality area at 50% and is reversing down.

General Market Comment 03.04.19

US indices closed higher on Wednesday, led by shares in the Semiconductors & Semiconductor Equipment (+2.03%), Automobiles & Components (+1.64%) and Materials (+1.33%) sectors. On the economic data front, MBA mortgage applications jumped by 18.6% in week ended March 29th from a rise of 8.9% in the previous week. The ADP employment change reached 129k in March (estimated 175k) compared to 197k in February. In other news, Markit US services PMI reached 55.3 in March (forecasted 54.8) vs. 56 a month earlier while Markit US composite PMI decreased to 54.6 in March from 55.5 in February. Finally, the ISM non-manufacturing index decreased to 56.1 in March (expected 58) vs. 59.7 in the prior month. The S&P 500 (2,873.40) stays above both its 20d moving average (2,816.65 – positive slope) and 50d moving average (2,768.97 – positive slope).

European markets are expected to start on a flat note. read more

BRENT Crude Technical Snap 03.04.19

BRENT Crude Technical Snap (Daily)

Pivot: 69.15

Our preference: long positions above 69.15 with targets at 70.30 & 70.75 in extension.

Alternative scenario: below 69.15 look for further downside with 68.70 & 68.20 as targets.

Comment: the RSI is bullish and calls for further upside.

Economic Calendar 03.04.19

Today’s Economic Events

08:50 FR MAR F Markit Composite PMI exp: 49.1 prev: 48.7
08:50 FR MAR F Markit Services PMI exp: 48.9 prev: 48.7
09:00 EU MAR F Markit Composite PMI exp: 51.3 prev: 51.3
09:00 EU MAR F Markit Services PMI exp: 52.7 prev: 52.7
10:00 EC FEB Euro-Zone: Retail Trade (MoM) exp: 0.2% prev: 1.3%
13:15 US MAR ADP Employment Report (k) exp: 182 prev: 183
14:45 US MAR F Markit Composite PMI exp: NA prev: 54.3
14:45 US MAR F Markit Services PMI exp: NA prev: 54.8
15:00 US MAR ISM – Non Manufacturing exp: 57.8 prev: 59.7
15:30 US W12 Crude Oil Inventories (WoW chg) exp: NA prev: 2800 read more

General Market Comment 02.03.19

U.S. indices closed mixed on Tuesday. Shares in the Food & Staples Retailing (-2.92%), Telecommunication Services (-1%) and Energy (-0.7%) sectors pulled back while shares in the Technology Hardware & Equipment (+1.08%), Real Estate (+0.86%) and Media (+0.75%) sectors gained a bit of strength. On the economic data front, durable goods orders dropped 1.6% MoM in February (estimated -1.8%, +0.1% in January). The S&P 500 (2,867.24) stays above both its 20d moving average (2,811.60 – positive slope) and 50d moving average (2,764.16 – positive slope).

European markets are expected to start on a positive note. read more