{"id":874,"date":"2018-08-31T10:15:06","date_gmt":"2018-08-31T09:15:06","guid":{"rendered":"https:\/\/inscx.com\/trading\/?p=874"},"modified":"2018-08-31T10:15:06","modified_gmt":"2018-08-31T09:15:06","slug":"general-market-comment-6","status":"publish","type":"post","link":"https:\/\/inscx.com\/trading\/2018\/08\/31\/general-market-comment-6\/","title":{"rendered":"General Market Comment"},"content":{"rendered":"<p><strong>General Market Comment<\/strong><\/p>\n<p>US indices closed lower <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_284542195\"><span class=\"aQJ\">on Thursday<\/span><\/span> as President Trump is reportedly planning on imposing an additional $200B worth of tariffs on Chinese imports by next week. Shares in the Automobiles &amp; Components (-2.17%), Consumer Durables &amp; Apparel (-2.06%) and Materials (-1.25%) sectors fell during the day. On the economic data front, personal income increased by 0.3% in July, below the estimate of +0.4%, compared to +0.4% a month ago while personal spending increased by 0.4% in July, meeting the expectation, from +0.4% in June. In addition, initial jobless claims increased to 213K in the week ending August 25 (estimated 212k) from 210K previously while continuing claims decreased to 1.708M in the week ending August 18 (anticipated 1.725M) from a revised 1.728M last week. Finally, the Bloomberg consumer comfort index decreased to 58.3 in the week ending August 26 vs. 58.6 in the prior week. The S&amp;P 500 (2,901.13) remains above its 20d moving average (2,859.39 &#8211; positive slope) and 50d moving average (2,811.48 &#8211; positive slope).<\/p>\n<p>European markets are expected to start on a flat note.<\/p>\n<p><strong><span style=\"color: #444444;\">Foreign Exchange<\/span><\/strong><\/p>\n<p>The US dollar was bullish against its major pairs <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_284542196\"><span class=\"aQJ\">on Thursday<\/span><\/span> with exception of the JPY. On the economic data front, personal income increased by 0.3% in July, below the estimate of +0.4%, compared to +0.4% a month ago while personal spending increased by 0.4% in July, meeting the expectation, from +0.4% in June. In addition, initial jobless claims increased to 213K in the week ending August 25 (estimated 212k) from 210K previously while continuing claims decreased to 1.708M in the week ending August 18 (anticipated 1.725M) from a revised 1.728M last week. Finally, the Bloomberg consumer comfort index decreased to 58.3 in the week ending August 26 vs. 58.6 in the prior week.<\/p>\n<p>The Euro was mixed against its major pairs. Eurozone consumer confidence index was -1.9 in final estimation for August, as in first one, vs -0.6 in July. Germany CPI was up by 0.1% in August in the first reading, as anticipated, after a 0.3% rise a month earlier. UK mortgage approvals declined to 64.8K in July (65K expected) from 65.4K in June.<\/p>\n<p>The Australian dollar was bearish against its major pairs with exception of the NZD.<\/p>\n<p><strong><span style=\"color: #444444;\">Commodities<\/span><\/strong><\/p>\n<p>After the close of Wall Street, WTI Crude Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_284542197\"><span class=\"aQJ\">OCT 18<\/span><\/span>) was about flat to $70.05. The contract was above its 20D MA (@ $67.15) and above its 50D MA (@ $67.59).<\/p>\n<p>Gold was about flat to $1200.4. The precious metal was above its 20D MA (@ $1199) and below its 50D MA (@ $1222).<\/p>\n<p>Copper Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_284542198\"><span class=\"aQJ\">DEC 18<\/span><\/span>) on Comex was down 3.5c to 270.15c\/lb. The contract was below its 20D MA (@ 271.86c) and below its 50D MA (@ 280.89c). In Europe, the London Metal Exchange reported its copper inventories decreased 1400 tons to 266450 tons.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>General Market Comment US indices closed lower on Thursday as President Trump is reportedly planning on imposing an additional $200B worth of tariffs on Chinese imports by next week. Shares in the Automobiles &amp; Components (-2.17%), Consumer Durables &amp; Apparel (-2.06%) and Materials (-1.25%) sectors fell during the day. On the economic data front, personal &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/inscx.com\/trading\/2018\/08\/31\/general-market-comment-6\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;General Market Comment&#8221;<\/span><\/a><\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-874","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>General Market Comment - INSCX Live Trading Platform<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/inscx.com\/trading\/2018\/08\/31\/general-market-comment-6\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"General Market Comment - INSCX Live Trading Platform\" \/>\n<meta property=\"og:description\" content=\"General Market Comment US indices closed lower on Thursday as President Trump is reportedly planning on imposing an additional $200B worth of tariffs on Chinese imports by next week. 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