Wednesday: 12th July 2017
Each Market In Focus
- The Australian market looks set to open flat following Wall Street’s lead with two of its main indexes closing little changed.
- At 7.00 AEST on Wednesday, the share price futures index was down five points, or 0.09 per cent, at 5,670.
- Locally, in economic news on Wednesday, the Reserve Bank of Australia releases May credit and debit card data.
- The Westpac Consumer Confidence Index is also due out.
- No major equities is expected.
- The Australian market on Tuesday scrapped a little higher, with resources stocks among the best performers.
- The benchmark S&P/ASX200 index lifted 4.5 points, or 0.08 per cent, to 5,728.9 points.
- The broader All Ordinaries index gained 5.6 points, or 0.1 per cent, to 5,768.5 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 R the stock is declining each day if the code shows repeatedly. ( source Metastock)
Scans Powered by Metastock. Click here for more information
- US stocks have ended little changed following a session marked by knee-jerk reactions to events in Washington that drove investors to first worry then hope about prospects for the Trump administration’s economic agenda.
- Stocks fell sharply in late-morning trading on Tuesday after emails disclosed by President Donald Trump’s eldest son cited Russian support for his father’s 2016 election campaign.
- The emails referred to a top Russian government prosecutor offering the Republican Trump campaign damaging information about Democratic rival Hillary Clinton.
- But the market recovered later as US Senate Republican leader Mitch McConnell announced a two-week delay in the Senate’s August recess to provide more time to work on legislation and approve nominees, signalling prospects of progress on the Republican agenda.
- The Dow Jones Industrial Average closed flat, up 0.55 points, at 21,409.07
- The S&P 500 lost 0.08 per cent to 2,425.53
- The Nasdaq Composite added 0.27 per cent to 6,193.31.
- Gold for August delivery gained 0.1% to $1,214.70 a troy ounce.
- The WSJ dollar index, which compares the dollar against a basket of currencies, fell 0.2% to 88.19, reversing earlier gains.
- Copper prices rose to a one-week high, boosted by a potential supply disruption amid labor unrest in Chile.
- Copper for September delivery settled up 0.9% to $2.6720 a pound on the Comex division of the New York Mercantile Exchange.
- IRON ORE: $64.24 +1.39 ( August contract )
- Oil prices rose as traders and investors anticipated that U.S. data will show that a glut of oil is continuing to shrink.
- U.S. crude for August delivery settled up 64 cents, or 1.44%, at $45.04 a barrel.
- Brent, the global benchmark, rose 64 cents, or 1.37%, to $47.52 a barrel.
- Market participants are expecting that the U.S. Energy Information Administration will report a drop in U.S. stockpiles in its weekly report, due Wednesday morning.
- The weekly data has become an important barometer as investors and traders watch to see whether output reductions by the Organization of the Petroleum Exporting Countries and other major producers are helping to bring down global oil inventories.
- The U.S. dollar weakened against major rivals, reversing earlier gains.
- The cause for the sudden weakness wasn’t immediately clear but it came as Donald Trump, Jr., released emails in which he set up a meeting with a Russian-linked lawyer to obtain potentially damaging information on Hillary Clinton during the presidential campaign.
- The ICE Dollar Index, which measures the dollar against a basket of six currencies, was off by 0.3% at 95.71 late after trading 0.1% higher in early New York trade.
- The Australian dollar is sharply higher against its US counterpart which fell to a one-week low following the Trump emails.
- The local currency was trading at 76.34 US cents at 7:00 AEST on Wednesday, from 76.18 on Tuesday.
- European shares ended Tuesday on the backfoot as losses among defensive consumer staples and real estate stocks outweighed strength in autos and miners.
- The pan-European STOXX 600 was down 0.7 per cent at its close, while eurozone stocks and blue-chips fell 0.4 per cent, in muted trading punctuated by early earnings updates and more corporate deal-making.
- Germany’s DAX was flat, down 0.07 per cent, at 12,437.02.
- Consumer staples including food and drink companies and household goods weighed, with real estate stocks also falling 1.2 per cent.
- Auto stocks were a bright spot, up 1 per cent, after data showed Chinese passenger car sales rose.
- Britain’s top share index retreated as falls in defensive stocks as well as Pearson and Marks & Spencer overshadowed gains in miners.
- The blue chip FTSE 100 index was down 0.6 per cent at 7,329.76 points at its close.
- Asian shares extended early gains on Tuesday, as investors awaited testimony from Federal Reserve Chair Janet Yellen for clues on when the central bank would tighten US monetary policy.
- MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.6 per cent, with sentiment underpinned by technology-led gains on Wall Street.
- Japan’s Nikkei stock index rose 0.6 per cent,
- Hong Kong stocks extended its rally, posting their best day in four months, bolstered by strong gains among financial sector stocks.
- The Hang Seng Index rose 1.5 per cent, to 25,877.64 points, while the China Enterprises Index gained 2.0 per cent, to 10,416.20 points.China stocks diverged, with the blue-chip index hitting a fresh 18-month high as investors chased companies with solid fundamentals, while small-caps extended a fall on expectations more equity issuance would soften valuations.
- The blue-chip CSI300 index rose 0.5 per cent to 3,670.81 points, while the Shanghai Composite Index lost 0.3 per cent to 3,203.04 points.
- The S&P/NZX50 Index gained 0.6 per cent to 7628.57.
Important News Events For Today
“Your positive action combined with positive thinking results in success”. – Shiv Khera
*Now you know everything.*