Monday: 30th January 2017
Each Market In Focus
The Australian market looks set to open lower following a lacklustre performance on Wall Street, where Dow and S&P500 stocks fell fractionally but closed basically flat.
At 8.00 AEDT on Monday, the share price futures index was down 11 points at 5,650.
In the US, the Down Jones Industrial Average remained above the landmark 20,000 points, closing flat, down just 0.04 per cent at 20,093.78.
US stocks edged lower for a second consecutive session as some underwhelming corporate earnings and gross domestic product data offset recent enthusiasm over policy actions by President Donald Trump.
Locally, in economic news on Monday, the CoreLogic is due to release its weekly capital city house prices survey.
In equities news, Newcrest Mining is expected to release its quarterly production report.
The Australian market on Friday closed higher led by big gains in the heavyweight banks and major retailers.
- AUS OZ Minerals (OZL.AU) December Quarterly Report Webcast
- NZ TrustPower Ltd (TPW.NZ) Q3 2017 Results
- AUS Shopping Centres Australasia Interim 2017 Dividend payment date – proposed Property Group (SCP.AU)
- AUS OZ Minerals (OZL.AU) December Quarterly Report
- AUS Newcrest Mining Ltd (NM-T) December Quarterly Results
- NZ Dec Overseas Merchandise Trade
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. The filter uses an above 50 cent price filter, and the codes in Blue are on our watch list. ( source Metastock)
- US stocks have edged lower for a second consecutive session as some underwhelming corporate earnings and gross domestic product data offset recent enthsiasm over policy actions by President Donald Trump.
- US economic growth slowed more than expected in the fourth quarter, with GDP rising at a 1.9 per cent annual rate, below the 2.2 per cent rise expected by economists and the 3.5 per cent growth pace logged in the third quarter.
- Chevron fell 2.4 per cent to $113.79 after its quarterly profit fell short of analysts’ expectations. The stock was the biggest drag on the S&P 500 and the Dow Jones Industrial Average indexes. The S&P energy index, down 0.9 per cent, was the worst performing of the 11 major S&P sectors.
- Starbucks curbed gains on the Nasdaq. Its shares dropped 4.0 per cent to $US56.12 after the world’s biggest coffee seller trimmed its full-year revenue forecast.
- The Dow remained above 20,000 for the third straight day, after breaching the milestone for the first time on Wednesday as the post-election rally reignited.
- For the week, the Dow rose 1.3 per cent, the S&P 500 gained 1 per cent and the Nasdaq advanced 1.9 per cent.
- The Dow Jones Industrial Average fell 0.04 per cent to 20,093.78.
- The S&P 500 lost 0.09 per cent to 2,294.69
- The Nasdaq Composite added 0.1 per cent to 5,660.78.
- Copper for March delivery settled up 0.6% at $2.6895 a pound on the Comex division of the New York Mercantile Exchange, reversing losses from earlier in the session.
- Gold prices closed out their first weekly decline in five weeks on Friday as investors have favored riskier assets in the past few days.
- Gold for April delivery settled down 0.1% to $1,191.10 a troy ounce on the Comex division of the New York Mercantile Exchange, marking its fourth consecutive session of losses.
- IRON ORE: $80.30 +0.08 ( January contract )
- Oil futures eased on Friday, with strong drilling activity around the world, especially in the U.S., weighing on the market.
- Light, sweet crude for March delivery settled down 61 cents, or 0.6%, at $53.17 a barrel on the New York Mercantile Exchange. It lost 5 cents, or 0.1%, for the week.
- Brent, the global benchmark, settled down 72 cents, or 1.3%, at $55.52 a barrel. It gained 3 cents, or 0.1%, for the week.
The U.S. dollar stalled after a weaker-than-expected reading on U.S. economic growth for the final quarter of 2016.
The WSJ Dollar Index, which measures the U.S. currency against 16 others, was essentially flat. The dollar rose against the Japanese yen and British pound but slid against the Mexican peso.
- The Australian dollar is higher against the US dollar, despite the greenback lifting against a basket of currencies for a second day.
- At 7.00 AEDT on Monday, the Australian dollar was worth 75.48 US cents, up from 75.26 on Friday.
- European shares pulled back with UBS dragging bank stocks lower after posting a drop in full-year profit, while Britain’s biggest supermarket Tesco surged after a 3.7 billion-pound takeover deal to busy a supplier.
- The pan-EUSropean STOXX 600 index was down 0.3 per cent at its close, while the UK’s
- FTSE 100 rose 0.3 per cent, supported by Tesco, which soared 9.3 per cent after agreeing to buy wholesale supplier Booker in a deal that cements its dominant position in the UK.
- Booker shares hit a record high and were the top STOXX gainer, up almost 16 per cent.
- Investors also cheered the news that the UK supermarket expects to restart paying dividends again.
- Meanwhile, losses in UBS helped drag Europe’s bank index down 0.8 per cent, to be among the weakest sectors.
- Germany’s DAX fell 0.3 per cent to 11,814.27.
- Hong Kong stocks slipped, ending four straight days of gains but only easing slightly from three-month highs as investors took profit ahead of the Lunar New Year holiday weekend.
- The market had opened firmer, underpinned by the Dow Jones Industrial Average holding above 20,000 points after breaching that level for the first time in the previous session.
- The benchmark Hang Seng index slid 0.06 per cent in a half-day session, to 23,360.78.
- The China Enterprises Index slid 0.51 per cent, to 9,804.05 points.
- The Hang Seng was up 2.1 per cent for the week, and jumped 6.2 per cent for the month.
- While the China Enterprises Index gained 0.9 per cent for the week and was up 4.4 per cent in January.
- Chinese markets are shut for the week-long Lunar New Year holiday and will resume trade on Friday, February 3.
- The Hong Kong market will be closed on Monday and Tuesday for the Lunar New Year.
- Trading will resume on Wednesday, February 1.
- Tokyo’s Nikkei 225 gained 0.3 per cent to 19,467.4.
- The S&P/NZX 50 Index gained 20.93 points, or 0.3 per cent, to 7,134.26.
Important News Events For Today
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