Author: Specialist

General Market Comment

US indices closed mixed on Tuesday. Shares in the Automobiles & Components (-3.91%), Materials (-3.4%) and Capital Goods (-1.66%) sectors declined throughout the day while shares in the Energy (+2.41%), Consumer Services (+0.85%) and Technology Hardware & Equipment (+0.79%) sectors gained a bit of traction. On the economic data front, the NFIB small business optimism index slipped to 107.9 in September (estimated 108.3) from 108.8 in August. The S&P 500 (2,880.34) stays below its 20d moving average (2,907.70 – flat slope) but remains above 50d moving average (2,880.00 – positive slope). read more

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

Commodity Closing – Europe/Oil-Gas Majors 09.10.18

U.S. crude prices were modestly higher on Tuesday as nearly one-fifth of daily oil production was lost from offshore Gulf of Mexico wells due to Hurricane Michael. Contributing to the upward move was the noted fall in production from Iran.

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