{"id":921,"date":"2018-09-07T09:20:23","date_gmt":"2018-09-07T08:20:23","guid":{"rendered":"https:\/\/inscx.com\/trading\/?p=921"},"modified":"2018-09-07T09:20:23","modified_gmt":"2018-09-07T08:20:23","slug":"general-market-comment-11","status":"publish","type":"post","link":"https:\/\/inscx.com\/trading\/2018\/09\/07\/general-market-comment-11\/","title":{"rendered":"General Market Comment"},"content":{"rendered":"<p><strong>General Market Comment<\/strong><\/p>\n<p>US indices closed mixed <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1590931464\"><span class=\"aQJ\">on Thursday<\/span><\/span>. Shares in the Semiconductors &amp; Semiconductor Equipment (-2.34%), Energy (-1.93%) and Technology Hardware &amp; Equipment (-1.22%) sectors closed lower while shares in the Telecommunication Services (+0.73%), Capital Goods (+0.53%) and Food, Beverage &amp; Tobacco (+0.45%) sectors gained traction. On the economic data front, ADP employment change declined to 163k jobs in August (estimated 200k) from 217k in the previous month. Also, initial jobless claims improved to 203k in week ended September 1st (forecasted 213k) compared to 213k a week earlier. Continuing claims remained relatively unchanged at 1.707M in week ended August 25th (expected 1.72M) from 1.71M the week before. In other news, the Bloomberg consumer comfort index slightly decreased to 58 in week ended September 2nd from 58.3 the week prior. The Markit US services PMI declined to 54.8 in August (estimated 55.2) compared to 55.2 in July while Markit US Composite PMI lowered to 54.7 in August vs. 55 a month earlier. Finally, factory orders decreased by 0.8% in July (forecasted -0.6%) from an increase of 0.6% in June while durable goods orders fell by 1.7% in July, in-line with estimates, from a decline of 1.7% the month prior. The S&amp;P 500 (2,878.05) remains above its 20d moving average (2,867.25 &#8211; positive slope) and 50d moving average (2,823.88 &#8211; positive slope).<\/p>\n<p>European markets are expected to open on a negative note.<\/p>\n<p><strong><span style=\"color: #444444;\">Foreign Exchange<\/span><\/strong><\/p>\n<p>The US dollar was bearish against most of its major pairs <span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1590931465\"><span class=\"aQJ\">on Thursday<\/span><\/span> with the exception of the CAD and the EUR. On the economic data front, ADP employment change declined to 163k jobs in August (estimated 200k) from 217k in the previous month. Also, initial jobless claims improved to 203k in week ended September 1st (forecasted 213k) compared to 213k a week earlier. Continuing claims remained relatively unchanged at 1.707M in week ended August 25th (expected 1.72M) from 1.71M the week before. In other news, the Bloomberg consumer comfort index slightly decreased to 58 in week ended September 2nd from 58.3 the week prior. The Markit US services PMI declined to 54.8 in August (estimated 55.2) compared to 55.2 in July while Markit US Composite PMI lowered to 54.7 in August vs. 55 a month earlier. Finally, factory orders decreased by 0.8% in July (forecasted -0.6%) from an increase of 0.6% in June while durable goods orders fell by 1.7% in July, in-line with estimates, from a decline of 1.7% the month prior.<\/p>\n<p>The Euro was bearish against most of its major pairs with exception of the CAD. German factory orders fell 0.9% in July after having dropped 4% the month before. Economists anticipated a 1.8% jump.<\/p>\n<p>The Australian dollar was mixed with its major pairs.<\/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_1590931466\"><span class=\"aQJ\">OCT 18<\/span><\/span>) was about flat to $68.94. The contract was above its 20D MA (@ $67.48) and above its 50D MA (@ $67.81). The US Department of Energy reported that, for the week ended 31 August, crude oil inventories fell 4302k barrels compared to the previous week.<\/p>\n<p>Gold was up $6.8 to $1203.7. The precious metal was above its 20D MA (@ $1196) and below its 50D MA (@ $1218).<\/p>\n<p>Copper Future (<span class=\"aBn\" tabindex=\"0\" data-term=\"goog_1590931467\"><span class=\"aQJ\">DEC 18<\/span><\/span>) on Comex was up 2.4c to 263.45c\/lb. The contract was below its 20D MA (@ 269.13c) and below its 50D MA (@ 277.53c). In Europe, the London Metal Exchange reported its copper inventories decreased 7750 tons to 254350 tons.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>General Market Comment US indices closed mixed on Thursday. Shares in the Semiconductors &amp; Semiconductor Equipment (-2.34%), Energy (-1.93%) and Technology Hardware &amp; Equipment (-1.22%) sectors closed lower while shares in the Telecommunication Services (+0.73%), Capital Goods (+0.53%) and Food, Beverage &amp; Tobacco (+0.45%) sectors gained traction. On the economic data front, ADP employment change &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/inscx.com\/trading\/2018\/09\/07\/general-market-comment-11\/\" 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-921","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\/09\/07\/general-market-comment-11\/\" \/>\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 mixed on Thursday. Shares in the Semiconductors &amp; Semiconductor Equipment (-2.34%), Energy (-1.93%) and Technology Hardware &amp; Equipment (-1.22%) sectors closed lower while shares in the Telecommunication Services (+0.73%), Capital Goods (+0.53%) and Food, Beverage &amp; Tobacco (+0.45%) sectors gained traction. 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Shares in the Semiconductors &amp; Semiconductor Equipment (-2.34%), Energy (-1.93%) and Technology Hardware &amp; Equipment (-1.22%) sectors closed lower while shares in the Telecommunication Services (+0.73%), Capital Goods (+0.53%) and Food, Beverage &amp; Tobacco (+0.45%) sectors gained traction. 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