Friday: 4th August 2017
Each Market In Focus
The Australian market looks set to open flat after an uninspiring mixed session on Wall Street
At 7.00 AEST on Friday, the share price futures index was down one point, or 0.02 per cent, at 5,664.
Falls in tech giants Apple and Amazon.com also weighed.
The S&P 500 lost 0.22 per cent and the Nasdaq Composite dropped 0.35 per cent.
Locally, in economic news on Friday, the Reserve Bank of Australia releases its Statement on Monetary Policy, while the Australian Bureau of Statistics releases July’s retail trade figures.
In equities, Tabcorp and Crown Resorts are expected to release full-year results.
The Australian market on Thursday closed lower as investors took profits, especially in the mining sector and major oil stocks, and a disappointing earnings report from Suncorp weighed on insurance stocks..
The benchmark S&P/ASX200 index was down 9.1 points, or 0.16 per cent, at 5,735.1 points.
The broader All Ordinaries index was down 7.7 points, or 0.13 per cent, at 5,786.8 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 S&P 500 and the Nasdaq have fallen, weighed down by Amazon.com, Apple and other top-shelf technology stocks, while the Dow Jones Industrial Average edged up to a seventh straight record high.
- Stocks lost a little ground late in the session after the Wall Street Journal reported that Special Counsel Robert Mueller has impanelled a grand jury in Washington to investigate allegations of Russia’s interference in the 2016 US presidential election.
- The S&P 500 information technology index, which has led other sectors in 2017, dipped 0.35 per cent. Apple lost 1.0 per cent after hitting a record high the day before.
- It and Amazon.com, down 0.90 per cent, weighed more than any other stocks on the S&P 500.
- Silicon Valley electric carmaker Tesla jumped 6.50 per cent after reporting quarterly results above Wall Street’s expectations.
- The Dow Jones Industrial Average edged up 0.04 per cent, or 9.86 points, to end at 22,026.1, another all-time after breaching 22,000 for the first time on Wednesday.
- The S&P 500 lost 0.22 per cent to 2,472.16 and the Nasdaq Composite dropped 0.35 per cent to 6,340.34.
- Gold futures slipped for a second session in a row as investors awaited a read on the pace of inflation from the Friday jobs report.
- Investors will be looking for clues in Friday’s report for the likelihood of a follow-up U.S. interest-rate hike later this year.
- Although data have been solid, including a 17-year low for the jobless rate and strong corporate earnings, the economy has offered few signs of sustained inflation that might hasten the Federal Reserve’s plan
to tighten monetary policy.
- December gold settled down $4, or 0.3%, at $1,274.40 an ounce. The contract has fallen since it settled Tuesday at $1,279.40 – its highest since June 8.
- IRON ORE: $71.52 +0.39 ( September contract )
Oil futures nudged higher intraday, building on a rebound overnight after investors ultimately took a bullish view on weekly U.S. inventory data.
Light, sweet crude for September delivery rose 12 cents, or 0.2%. to $49.71 a barrel on the New York Mercantile Exchange.
Brent, the global benchmark, gained 25 cents, or 0.5%, to $52.61 a barrel.
U.S. oil futures rose above $50 for the first time in more than two months on Monday, having climbed steadily in recent weeks on signs that the market is rebalancing after more than three years of oversupply.
- The British pound tumbled intraday after the Bank of England struck a cautious tone on the U.K. economy, while the U.S. dollar wavered after mixed data.
- The pound was recently down 0.7% to $1.313.
- The U.S. Dollar Index, which measures the U.S. currency against 16 others, slipped 0.1% to 85.83.
- The Bank of England left rates unchanged as expected but cut its forecast for economic growth this year and next.
Meanwhile, the dollar oscillated after mixed U.S. data. A report from the Institute for Supply Management showed U.S. service-sector activity slowed more-than-expected in July.
Separate reports showed orders at U.S. factories surged in June, while the number of Americans filing for unemployment benefits fell last week.
- The Australian dollar has retraced its previous session’s losses and is again higher against its US counterpart which fell in the offshore session on disappointing data.
- At 7.00 AEST on Friday, the Australian dollar was worth 79.47 US cents, up from 79.28 US cents on Thursday.
- European shares inched up on Thursday as solid company earnings more than offset a weak energy sector and a slump in German industrial giant Siemens on delays to a planned unit listing.
- The pan-European STOXX 600 index rose 0.08 per cent to 378.93 points and euro zone blue chips added 0.20 per cent, reaching 3,466.37 points.
- Siemens was the top weight to the STOXX after saying it would wait until next year to list its healthcare unit following the release of disappointing quarterly earnings.
- Its 3.1-per cent slide dragged on the German blue chip DAX index, which fell 0.2 per cent, underperforming the rest of Europe and adding to a recent slide due to strength in the euro.
- UK blue chips rose to a one-week high after the Bank of England kept rates on hold, hitting the pound and lifting export-oriented stocks accordingly, and on solid earnings updates.
- The FTSE rose 0.85 per cent to 7,474.77 points.
- Asian shares slid, led by falls in South Korean tech shares, as investors locked in recent gains after Wall Street’s Dow Jones Industrial Average broke the 22,000 barrier for the first time in its 121-year history.
- MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.6 per cent while
- Japan’s Nikkei dropped 0.3 per cent. Samsung Electronics, which last Friday posted its biggest daily fall since October, slid 2.3 per cent, giving up the gains made so far this week.
- Hong Kong stocks also fell, as investors paused for breath after recent strong gains in financial and resources firms.
- The Hang Seng index fell 0.3 per cent, to 27,531.01 points, while the China Enterprises Index lost 0.5 per cent, to 11,002.20 points.
- China’s major stock indexes fell, after a private survey showed the country’s services sector cooled in July and a net drain of funds by the central bank renewed concerns about liquidity conditions.
- The blue-chip CSI300 index fell 0.9 per cent, to 3,727.83 points.
- The Shanghai Composite Index lost 0.4 per cent to 3,272.93 points, further retreating from the previous session’s 19-month intraday high of 3,305.43.
- The S&P/NZX50 Index rose 0.07 per cent to 7753.75.
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