Tuesday: 18th April 2017
Each Market In Focus
- The Australian stock market is set to open flat as brewing tension between the US and North Korea weighs on investor sentiment.
- At 7.00 a.m. AEST on Tuesday the share price futures index was unchanged at 5,852.
- Locally, the market will be focused on the minutes of the latest meeting of the Reserve Bank of Australia, which are due to be released later on Tuesday.
- In equities news, Papua New Guinea-focused energy producer Oil Search will report quarterly output.
- On Thursday, the Australian share market fell as investors fretted over political tensions related to Syria and North Korea and mining stocks were pummelled after a steep drop in the iron ore price.
- The benchmark S&P/ASX200 dropped 44.1 points, or 0.74 per cent, to 5,889.9 points
- The broader All Ordinaries index lost 43 points, or 0.72 per cent, to 5,925.9 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. The filter uses an above 50 cent price filter, and the codes in Blue are on our watch list. ( 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. The filter uses an above 50 cent price filter, and the codes in Blue are on our watch list. ( source Metastock)
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- U.S. stocks bounced back on Monday after the S&P 500 closed the previous session at a two-month low, in a broad rally led by recently beaten-down bank and technology shares.
- Market focus shifted from geopolitical tension to earnings, with several Dow components, including Goldman Sachs, General Electric and Johnson & Johnson, scheduled to release results later this week.
- Stock trading volume was the lightest for a single session so far this year.
- Stocks rebounded after investors last week sought safe-haven assets due to geopolitical tensions, mainly out of Syria and North Korea.
- At the closing bell on Monday, the Dow Jones Industrial Average rose 183.67 points, or 0.9 per cent, to 20,636.92
- The S&P 500 gained 20.06 points, or 0.86 per cent, to 2,349.01
- The Nasdaq Composite added 51.64 points, or 0.89 per cent, to 5,856.79.
- Gold prices rose to a fresh five-month high, helped by a weaker U.S. dollar and continued concerns over geopolitical risk.
- IRON ORE: $72.08 -0.94 ( April contract )
- Oil prices had their biggest drop since March, as new government figures stoked worries that rising output from shale formations could throw the oil market further out of balance.
- Output from U.S. shale fields is set to rise by 124,000 barrels a day in May, according to the EIA’s monthly Drilling Productivity Report.
- That would be the biggest monthly increase in two years, and with the rig count still rising relentlessly, some traders may be wondering if it’s only the beginning.
- U.S. crude futures fell 53 cents, or 1%, to $52.65 a barrel on the New York Mercantile Exchange.
- Brent, the global benchmark, fell 53 cents, or 0.95%, to $55.36 a barrel on ICE Futures Europe.
- For both benchmarks, it was the largest single day drop since March 21, when oil prices hit a low $47.34.
The U.S. dollar weakened as tensions between the U.S. and North Korea continued to escalate following an unsuccessful missile launch ordered by the country’s leader, Kim Jong Un, over the weekend.
The ICE U.S. Dollar index, a measure of the greenback’s strength against a basket of six rival currencies, softened by 0.2% to 100.33, while the WSJ Dollar Index, which gauges the dollar’s strength against a broader basket, fell 0.1% to 90.05.
Against its Japanese counterpart, the dollar traded at ¥108.93 late Monday in New York, compared with ¥108.64 late Friday in New York, as the yen tends to draw safe-haven demand amid geopolitical uncertainty.
The euro traded at $1.0640 late Monday, compared with $1.0613.
The pound traded at $1.2563, compared with $1.2522. .
- The Australian dollar is trading higher against its US counterpart, which has come under some pressure due to geopolitical tensions over North Korea.
- At 7.00 a.m. AEST on Tuesday, the Australian dollar was at 75.90 US cents, up from 75.81 cents on Thursday.
- Most major European markets were closed for Easter Monday.
- China’s share markets fell on Monday, as investors dumped stocks across the board after the country’s top securities regulator vowed to “brandish the sword” and combat market misbehaviours.
- The blue-chip CSI300 index fell 0.2 per cent to 3,479.94 points, while the Shanghai Composite Index lost 0.7 per cent to 3,222.17 points.
- Main sectors fell broadly led by real estate stocks, while more than 100 stocks slumped by the 10 per cent downside limit.
- New Zealand shares fell on Thursday, with the S&P/NZX 50 index down 21.74 points, or 0.3 per cent, to 7229.80.
Important News Events For Today
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