Monday: 15th May 2017
Each Market In Focus
- Banking shares weighed on the Australian stock market on Friday, as investors continued to digest the government’s plans for a levy on the liabilities of the country’s biggest
- At 8.00 a.m. AEDT on Monday, the local share price index was up 6 points, or 0.1 per cent, at 5,817.
Analysts estimated the levy could cut the big banks’ earnings by up to 6% a year, unless they can offset it by raising lending rates and cutting costs.
With most industry sectors weaker for the day, the S&P/ASX 200 fell 41.4 points, or 0.7%, to settle at 5836.9.
60 Day High. This is a list of codes that made a new 60 day High in the past 2 days. We use the 60 day high as this would infer that a breakout in price has occurred after a period of consolidation OR the stock is moving up each day if the code shows repeatedly. ( source MetaStock )
60 Day Low. This is a list of codes that made a new 60 day LOW in the past 2 days. We use the 60 day low as this would infer that a breakdown in price has occurred after a period of consolidation OR the stock is declining each day if the code shows repeatedly. ( source Metastock)
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- Wall Street stocks slipped on Friday, ending the week lower as tepid economic data weighed on banks and worries deepened over Nordstrom and other department stores.
- Risk-averse sentiment gripped Wall Street this week after President Donald Trump unexpectedly fired his FBI chief, the potential fallout from which could delay Trump’s pro-growth goals to cut taxes and boost spending on infrastructure.
- Soft retail sales and monthly inflation data on Friday raised concerns about slow economic growth and questions about whether the Federal Reserve could maintain its hawkish outlook for interest rates this year.
- The Dow Jones Industrial Average declined 0.11 per cent to end at 20,896.61 points
- The S&P 500 lost 0.15 per cent to 2,390.9.
- The Nasdaq Composite added 0.09 per cent to 6,121.23.
- For the week, the Dow fell 0.5 per cent, the S&P 500 lost 0.4 percent and the Nasdaq rose 0.3 per cent.
- Gold for June delivery rose 0.3% to $1,227.70 a troy ounce.
- July silver was up 0.8% at $16.40 a troy ounce.
- IRON ORE: $61.45 -0.56 ( May contract )
- Oil prices closed nearly unchanged, after fluctuating between gains and losses throughout the day as traders weighed inventory data and look to the global oil cartel to
extend a production-cut deal later this month.
- Light, sweet crude for June delivery settled up 1 cent, or 0.02%, to $47.84 a barrel on the New York Mercantile Exchange.
- Prices rose 3.5% for the week, breaking a losing streak after three consecutive weeks of losses. Brent, the global benchmark, rose 7 cents, or 0.1%, to $50.84 a barrel.
- U.S. oil futures traded as high as $48.05 a barrel and as low as $47.35 a barrel, with the market caught between expectations for major oil-producing nations to further cut back on output, and a steady increase in U.S. shale activity.
The U.S. dollar slid as investors grew more cautious on the prospect of U.S. interest-rate increases after weak economic data.
The WSJ Dollar Index, which measures the U.S. currency against 16 others, fell 0.3% to 90.14 as the dollar declined against the Japanese yen, euro and emerging-marketcurrencies.
A Labor Department report Friday showed a closely-watched measure of inflation, so-called core prices, rose a slower-than-expected 0.1% in April from the prior month.
The data prompted investors to pare bets that the Federal Reserve will raise interest-rates at its meeting next month.
- The Australian dollar is slightly higher against the US dollar, which fell following the release of some weaker than expected US retail spending data.
- At 7.00 AEST on Monday, the Australian dollar was worth 73.92 US cents, up from 73.77 US cents on Friday.
- In Europe, stock markets steadied this week. Their outperformance this year against global peers remains intact, with the benchmark’s 10 per cent gains outpacing the 7 per cent rise on the S&P 500.
- The DAX rose 59.35 points, or 0.47 per cent, to 12,770, while the CAC in France was up 22 points, or 0.41 per cent to 5,405.42.
- Britain’s top-share index steadied at one-month highs after five straight sessions of gains as disappointing results and downgrades weighed, as well as a slump in Hikma’s shares after a setback to one of its drugs.
- The blue chip FTSE 100 index ended up 48.76 points, or 0.66 per cent, at 7,435.39 points.
- Asian shares were hobbled on Friday by a downbeat performance on Wall Street though they remained on track for weekly gains, while oil prices extended a rally on hopes for output cuts.
- MSCI’s broadest index of Asia-Pacific shares outside Japan erased early slight gains and was down 0.2 percent in afternoon trading, shy of nearly two-year highs probed in the previous session but still up 1.5 percent for the week.
- Japan’s Nikkei stock index ended down 0.4 per cent, as investors locked in gains after it came close to the psychologically significant 20,000 milestone this week, above which it hasn’t traded since December 2015.
- It added 2.3 per cent for the week.
- The S&P/NZX 50 index fell 0.5 per cent to 7452.38.
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