Author: Specialist

Today’s Economic Events

07:00 GE AUG Import Prices (MoM) exp: 0.1% prev: -0.2%
09:30 UK AUG Unemployment Rate (ILO) exp: 4% prev: 4%
10:00 EC AUG Euro-Zone External Trade Balance (M EUR) exp: NA prev: 17556
10:00 GE OCT Zew Survey (Current Situation) exp: 74.5 prev: 76
10:00 GE OCT Zew Survey (Econ. Sentiment) exp: -12.2 prev: -10.6
14:15 US SEP Industrial Capacity Utilization exp: 78.2% prev: 78.08%
14:15 US SEP Industrial Production (MoM) exp: 0.2% prev: 0.4%
15:00 US OCT NAHB Housing Market exp: 67 prev: 67 read more

General Market Comment

US indices closed mixed on Monday as the Russell 2000 is the only US index to close positive. Shares in the Technology Hardware & Equipment (-1.88%), Software & Services (-1.6%) and Semiconductors & Semiconductor Equipment (-1.32%) sectors ended in the red zone while shares in the Household & Personal Products (+0.98%), Automobiles & Components (+0.94%) and Food, Beverage & Tobacco (+0.79%) sectors gained momentum. On the economic data front, the Empire Manufacturing index advanced to 21.1 in October (estimated 20) from 19 in the previous month. Retail sales improved by 0.1% MoM in September (forecasted 0.6%) compared to 0.1% a month earlier. In other news, the September budget surplus jumped to $119.1B (forecasted $83B) from $7.9B in the previous year. Finally, the budget deficit for FY2018 expanded by 17% YoY to $779B (largest deficit since 2012). The S&P 500 (2,750.79) continues to stay below both its 20d moving average (2,879.95 – negative slope) and 50d moving average (2,874.70 – negative slope). read more

Commodity Closing – Europe/Oil-Gas Majors 15.10.18

Oil prices steadied on Monday, supported by geopolitical tension over the disappearance of a Saudi journalist, which has stoked worries about supplies from the world’s top crude exporter, but weighed by a falling equities market and concern over long-term demand outlook.

NYMEX Crude Oil	71.60 USD	+0.26	+0.36%
ICE Brent Crude	80.66 USD	+0.23	+0.29%
NYMEX RBOB Gasoline	1.94 USD	-0.00	-0.06%
Dubai Crude Spot	78.52 USD	+0.19	+0.24%
ICE Gas Oil	715.00 USD	-3.00	-0.42%
NYMEX No2 Heating Oil	2.32 USD	+0.00	+0.08%
NYMEX Nat Gas	3.25 USD	+0.09	+2.83%
ICE NBP Nat Gas	71.25 GBP	-0.97	-1.36%

Today’s Economic Events

US SEP Monthly Budget Satement (B USD) exp: 58 prev: -214
13:30 US OCT Empire Manufacturing exp: 21 prev: 19
13:30 US SEP Retail Sales exp: 0.7% prev: 0.1%
13:30 US SEP Retail Sales less Autos exp: 0.4% prev: 0.3%
15:00 US AUG Business Inventories exp: 0.5% prev: 0.6%

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%