Tuesday: 25th July 2017
Each Market In Focus
- The Australian market looks set to open modestly higher despite Wall Street’s Dow Jones Industrial and the S&P 500 losing ground with little major news to drive markets.
- At 7.00 AEST on Tuesday, the share price futures index was up 13 points, or 0.24 per cent, at 5,638.
- Locally, in economic news on Tuesday, the ANZ-Roy Morgan Consumer Confidence weekly survey is due out.
- In equities, Yowie Group June is expected to release its quarterly report.
- The Australian market on Monday closed lower with heavy falls by the banks and energy companies leading the way amid widespread selling.
- The benchmark S&P/ASX200 index was down 34.7 points, or 0.61 per cent, at 5,688.1 points.
- The broader All Ordinaries index was down 33.2 points, or 0.58 per cent, at 5,738 points.
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)
Scans Powered by Metastock. Click here for more information
- The Nasdaq has hit a record high ahead of a big week of technology earnings reports, while the S&P 500 and the Dow industrials lagged behind as losses in healthcare heavyweight Johnson & Johnson took a toll.
- The major US indexes are trading around record-high levels with a huge batch of second-quarter corporate reports due this week.
- After the market closed on Monday, shares of Google parent Alphabet, one of the high-flying “FANG” stocks, traded down 2.2 per cent following the company’s quarterly report and dragged on Nasdaq 100 futures.
- The company’s report will be critical for supporting the run for the tech sector, which has outperformed all major groups this year.
- Of the other FANG stocks, Netflix issued well-received results last week, and Amazon and Facebook are set to report later this week.
- The Dow Jones Industrial Average fell 0.31 per cent to 21,513.17, the S&P 500 lost 0.11 per cent to 2,469.91 and the Nasdaq Composite added 0.36 per cent to 6,410.81.
- Tech and financials were the only two of the 11 major S&P sectors to finish in positive territory.
Gold tried but failed to extend its streak of gains, with prices settling slightly lower as the U.S. dollar strengthened a bit after last week’s sharp loss.
- On Monday, August gold fell 60 cents, or less than 0.1%, to settle at $1,254.30 an ounce after tapping an intraday high at $1,259. Its settlement of $1,254.90 on Friday was the highest since June 23.
- September copper ended at $2.737 a pound, up 1.4 cents, or 0.5%.
- IRON ORE: $66.40 +0.15 ( August contract )
- Oil finished higher Monday for the first time in three sessions. Prices got a boost following news that Saudi Arabia has pledged to cut its crude exports starting next month and Nigeria agreed to cap its output once it has climbed to 1.8 million barrels a day.
- September WTI crude rose 57 cents, or 1.3%, to settle $46.34 a barrel on the New York Mercantile Exchange.
- Brent crude for September delivery gained 54 cents, or 1.12%, to $48.60 a barrel.
- The U.S. dollar wavered Monday as investors looked to U.S. politics and the Federal Reserve’s meeting this week.
- The WSJ Dollar Index, which measures the U.S. currency against 16 others, was down less than 0.1% to 86.48. The greenback fell 0.2% against the Japanese yen but rose 0.2% against the euro.
- Investors remain focused on the investigation into ties between U.S. President Donald Trump’s administration and Russia. The dollar slid last week after Bloomberg reported the investigation is now extending to Mr. Trump’s businesses.
- On Monday, Jared Kushner, Mr. Trump’s son-in-law and a senior White House adviser, released details of his contacts with Russian officials and businesspeople, including a previously undisclosed meeting with the Russian ambassador to the U.S. in April 2016.
- Investors fear the political uncertainty will derail the Trump administration’s pro-growth agenda, which helped drive the dollar to a 14-year-high after the November election.
- The Australian dollar is flat against its US counterpart with little news to drive markets.
- At 7.00 AEST on Tuesday, the Australian dollar was worth 79.26 US cents, virtually unchanged from 79.27 US cents on Monday.
- Britain’s top share index fell on Monday as heavyweight Reckitt Benckiser dropped following its results and as airlines were hit by price war worries.
- Britain’s blue-chip FTSE 100 index ended down 1 per cent at 7,377.7 points.
- Consumer goods company Reckitt Benckiser fell 3.3 per cent, the biggest FTSE loser, after second-quarter sales fell 2 per cent following June’s cyber attack, which disrupted its operations.
- European shares dipped with automakers hitting their lowest level this year after anti-trust regulators opened an investigation, while price war worries hurt airlines.
- The pan-European STOXX 600 fell 0.2 per cent as gains in heavyweight financials helped offset losses in other sectors. Eurozone bluechips ended flat.
- Germany’s DAX lost 0.25 per cent to 12,208.95.
- Asian stocks edged slightly higher on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan reversed earlier losses to edge up 0.2 per cent, while Tokyo’s Nikkei225 lost 0.6 per cent to 19,975.67.
- Hong Kong shares rose to two-year highs, resuming their rally after a brief pause last week, helped by consumer and technology stocks.
- The benchmark Hang Seng Index ended 0.5 per cent, or 140.74 points, higher at 26,846.83, while the Hang Seng China Enterprises Index finished 0.3 per cent higher at 10,820.95.
- China’s blue-chip index hovered near 18-month highs on Monday, as institutional investors stepped up their buying into industry leading big caps, but small-cap shares continued to languish as their earnings disappointed.
- The mood was also aided by views that China may maintain high levels of fiscal spending to avoid the risk of a sharp economic slowdown in the second half.
- The blue-chip CSI300 index ended up 0.4 per cent, to 3,743.47 points, while the Shanghai Composite Index also added 0.4 per cent to 3,250.60 points, closing at its highest in 3 months.
- The S&P/NZX50 Index rose 0.1 per cent to 7682.29.
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