Tuesday: 18th July 2017
Each Market In Focus
- The Australian share market looks set to open flat, taking its lead from Wall Street, where stocks were little changed.
- At 7.00 AEST on Tuesday, the share price futures index was marginally down four points, or 0.07 per cent, to 5,693 points.
- The Australian share market on Monday closed lower as weakness across financials, health care and telcos offset gains from miners and energy companies.
- The benchmark S&P/ASX200 finished Monday 0.17 per cent lower at 5,755.5 points after much-anticipated Chinese economic figures released at midday were unable to lift the local market.
- Locally on Tuesday, Rio Tinto is expected to release its second quarter operations review while Oil Search will reveal its second quarter production report.
- The administrator for Network Ten, KordaMentha, will return to the Federal Court of Australia as it fights to prove its impartiality after concerns raised over its past work for Ten’s lawyers.
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
- US stocks have closed little changed in low volume as gains in utilities and consumer stocks offset declines in healthcare, with earnings news filtering out winners and losers across the board.
- The Dow Jones Industrial Average fell 8.02 points, or 0.04 per cent, to 21,629.72
- The S&P 500 lost 0.13 points, or 0.01 per cent, to 2,459.14
- The Nasdaq Composite added 1.97 points, or 0.03 per cent, to 6,314.43.
- The S&P health sector fell 0.3 per cent while utilities gained 0.4 per cent and the consumer discretionary sector rose 0.26 per cent.
- Health stocks on the S&P 500 slipped, partly weighed down by a delay in the US Senate’s consideration of healthcare legislation after news over the weekend that Arizona Republican Senator John McCain would remain in his home state next week following a medical procedure.
- After the closing bell, Netflix shares jumped 8.5 per cent to $US175.45 following better than expected subscriber growth.
- Procter & Gamble rose 0.5 per cent to $US 87.55 as investor Nelson Peltz actively seeks a seat on P&G’s board.
- Gold finished higher on Monday, building on its first weekly rise since early June, as recent softer economic data raised speculation that the Federal Reserve may be reluctant to raise interest rates quickly.
August gold climbed $6.20, or 0.5%, to settle at $1,233.70 an ounce.
The settlement was the highest since June 30, according to FactSet data. Prices logged a roughly 1.5% weekly gain, after posting losses in each of the past five weeks, based on the most-active contracts.
September copper added 3.3 cents, or 1.2%, to $2.724 a pound.
- IRON ORE: $67.25 +2.67( August contract )
- Oil prices reversed gains on Monday, as investors weighed signs of strong demand against a global glut that’s proven difficult to reduce.
- Light, sweet crude for August delivery settled down 52 cents, or 1.1%, at $46.02 a barrel on the New York Mercantile Exchange, breaking a five-day winning streak after trading as high as $46.68 earlier in the session.
- Brent, the global benchmark, settled down 49 cents, or 1%, at $48.42 a barrel.
- The U.S. dollar stabilized Monday ahead of major central-bank meetings later in the week.
- The WSJ Dollar Index, which measures the U.S. currency against 16 others, was essentially flat at 87.30.
- On Friday, the index closed at its lowest level since October after weaker-than-expected U.S. economic data.
- Investor focus this week will be on policy decisions from the European Central Bank and Bank of Japan.
- The ECB earlier this month hinted that it is moving closer to scaling back its quantitative-easing program, propelling the euro higher.
- Central banks in Canada and the U.K. have also turned more hawkish recently.
- Meanwhile, the U.S. dollar continues to be hurt by investor pessimism over the path for U.S. interest-rate increases.
- Disappointing inflation and retail sales data released on Friday added to concerns about the health of the U.S. economy.
- The Chinese yuan was up 0.1% against the dollar after data showed the Chinese economy grew more than expected in the second quarter.
- The Australian dollar has slid from its two-year high against its US counterpart, falling back below 78 US cents.
- At 7.00 AEST on Tuesday, the Australian dollar was worth 77.97 US cents, sliding from 78.10 US cents on Monday.
- Britain’s major share index started the week with solid gains driven by basic resource firms, while a government contract win by crisis-hit construction firm Carillion gave it some respite from heavy losses sustained last week.
- Miners pushed the FTSE 100 up 0.4 per cent, while mid-caps outperformed, rising 0.6 per cent with Weir Group and Carillion shining. British shares easily beat Europe’s main index which edged up 0.1 per cent.
- Fresnillo, Antofagasta and Glencore led miners higher, supporting index gains as metals prices rose to multi-month highs on an upbeat second quarter for China’s economy and a weaker dollar.
- ITV was a top blue-chip gainer, up 1.4 per cent after the broadcaster said it had appointed Carolyn McCall, boss of airline EasyJet as its next chief executive.
- European shares gave back early gains in thin volumes on Monday, as a busy few weeks of earnings reports from top regional and US firms got underway.
- The pan-European STOXX 600 index steadied at the close after touching a three-week high, while blue chips turned negative to trade 0.3 per cent lower.
- Asian stocks rose on Monday after the Dow and S&P 500 hit record highs on Friday on bets the Federal Reserve’s accommodative monetary policy will continue following lacklustre US data, with that view sending the U.S. dollar reeling to a 10-month low.
- Markets are awaiting China’s second-quarter gross domestic product, due at 0200 GMT. Economists expect the economy to have expanded 6.8 per cent from a year earlier, cooling from the previous quarter’s 6.9 per cent pace.
- A surprisingly upbeat reading would likely lift stocks and global commodity prices, but a weak outcome could boost bearish bets on the yuan, which has gained about 2 per cent against the U.S. dollar so far this year.
- MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.2 per cent early on Monday.
- Japan’s Nikkei rose 0.1 per cent.
- New Zealand shares rose broadly, with the market led by continued gains from Summerset Holdings and Metlifecare, while smaller stock Pushpay Holdings kept rising too.
- The S&P/NZX50 Index rose 49.8 points, or 0.65 per cent, to 7699.57.
Important News Events For Today
“Life is 10% what happens to you and 90% how you react to it”. – Charles R. Swindoll
*Now you know everything.*