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- Varchev Finance: Trading day in one post 13.10.2017
Varchev Finance: Trading day in one post 13.10.2017
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Loading...Asian Stock Market: Markets in Asia were mostly higher on Friday despite Wall Street's lower close and as investors digested the release of China trade data. U.S. inflation and retail sales data are also due just ahead of the trading day stateside. Japan's Nikkei 225 climbed 0.61 percent, extending gains a day after touching a 21-year high. Losses in automakers and financials were offset by gains in retail names: Fast Retailing soared 4.25 percent, Toyota was off 0.46 percent and Mitsubishi UFJ Financial Group lost 0.93 percent. Across the Korean Strait, the Kospi traded 0.06 percent higher. Tech stocks were mixed after Samsung indicated it was on track for record profits, while retailers and cosmetic plays notched robust gains: Shinsegae rose 5.32 percent and Amorepacific surged 5.11 percent. Down Under, the S&P/ASX 200 rose 0.31 percent. The telecommunications and consumer staples sub-indexes led gains on the index, rising 0.79 percent and 0.73 percent respectively. Greater China markets were mixed as investors digested trade data released Friday. The Hang Seng Index shed 0.02 percent. On the mainland, the Shanghai Composite was 0.15 percent higher while the Shenzhen Composite tacked on 0.458 percent.
Currency Market: The Bloomberg Dollar Spot Index is on track for a 0.6% decline this week after rallying for the previous four weeks. The euro was up 0.2% on the day, at $1.1848. The British pound was $1.3257 after gaining in the last four sessions. GBP was strongly benefited from the news today, that Michael Barnier could propose a 2-year long transition period, in which UK remains on the common market. Barnier will make the offer on October 13th. This is very bullish for the GBP.
Commodity Market: WTI crude added 0l.6% to $50.88 a barrel. It declined 1.4% on Thursday's session, but is still on course for a weekly advance. Nearly two-thirds of U.S. oil executives see crude oil prices remaining below $60 per barrel through 2018 and not hitting $70 until at least the next decade. This year's more dour view, especially among shale industry managers, comes as executives are focusing on cost controls and returns and have largely stopped looking for a rise in commodity prices. This new paradigm is encouraging shale producers to base executive compensation on the best uses of capital, a strategy designed to keep costs low. Gold inched up 0.2% to $1,295.81 an ounce. It's up 1.5% this week, heading for the first weekly advance in five weeks.
U.S. Stock Market: U.S. stocks closed lower on Thursday as Wall Street digested earnings from some of the top financial companies. The Dow Jones industrial average finished 31.88 points lower at 22,841.01,after hitting an intraday record.The Nasdaq composite also notched an intraday record, before closing 0.2 percent lower at 6,591.51. The S&P 500 declined 0.2 percent to 2,550.93 after reaching an all-time high earlier in the session. "We still have a long way to go in the earnings season to know where things are," said Ken Moraif, senior advisor at Money Matters. But "there's a lot of optimism in the market that earnings will be good." JPMorgan Chase reported third-quarter earnings and revenue that beat analyst expectations. The banking giant, however, also reported a 27 percent year-over-year decline in fixed income trading revenue. Citigroup also posted better-than-expected quarterly results, driven by growth in its global consumer business. Other major financial companies slated to report this week include Bank of America and Wells Fargo.
European Stock Market: During the last trading day of this week, the European stock markets will open with a positive sentiment. German DAX will show gain of 13 points and will open around 12,988. French CAC will open 4 points higher at 5,361 and FTSE 100 gained 15 points to 7,548. Today market participants will keep a close eye at the German inflation report - The biggest economy in the region. Also we expect the proposal of Michael Barnier for the UK to remain on the common market for another 2 years - which is looked as a transitional period. This will be highly positive for the European companies, thus for the indices.
Economic calendar for the European and U.S. Trading session:
09:00 Europe - German CPI
15:30 USA - Core CPI
15:30 USA - Retail Sales
17:00 USA - Michigan Consumer Sentiment
17:15 Europe - ECB's Constacio Speaks
17:30 USA - ECRI Weekly Index
18:00 USA - Cleveland CPI
20:00 USA - FOMC Member Powell Speaks
21:00 USA - Federal Budget Balance
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