Market Weekly: December 1 – 7 2019

Viewing 15 posts - 1 through 15 (of 27 total)
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  • #22615

    [i][color=purple][size=5][i]Where have we been and where are we … Hope y’all have GREAT WEEK ahead 🙂
    GREAT RETAIL holiday was record breaking in 2019 (esp online) this holiday season 😆
    I will be looking to lock in gains — as has 2019 has been GREAT YEAR FOR MUTUAL FUNDS 8)[/i][/size][/color][/i]

    [article]1855[/article]

    #22616
    Super Harley
    Participant

    Working hard to make a livin’ – trust everyone had a great Thanksgiving – have another excellent week all 🙂

    #22623
    TradersCom
    Keymaster

    A ton of Manufacturing PMI numbers today:

    Latest data released by Markit – 2 December 2019

    Spain November manufacturing PMI 47.5 vs 46.5 expected
    Switzerland November manufacturing PMI 48.8 vs 48.8 expected
    Italy November manufacturing PMI 47.6 vs 47.5 expected
    Eurozone November final manufacturing PMI 46.9 vs 46.6 prelim
    Germany November final manufacturing PMI 44.1 vs 43.8 prelim
    France November final manufacturing PMI 51.7 vs 51.6 prelim

    #22626
    Super Harley
    Participant

    First the trumps on Argentina and Brazil then Pres. Trump says: Don’t know of Hong Kong bill makes China deal harder
    but China wants to make a deal

    …. SPX hit hard more than 30 points as does USD on those comments plus data misses – market was up despite the HK carry on – classic mania behavior

    #22628
    Helmholtz Watson
    Participant

    China responds to US on Hong Kong … will release an “unreliable entity list” soon

    via China Global Times: China

    The Business Source @GlobalTimesBiz
    ·

    Source told Global Times that China will release an “unreliable entity list” soon, which includes relevant US entities. US House is expected to pass a Xinjiang-related bill that will harm Chinese firms’ interests, prompting China to speed up the move.

    The list is in response to Xinjiang related bill that will harm Chinese firms interests

    [tweet]1201550282875785216[/tweet]

    China is under pressure from the US in response to the Hong Kong situation and also Xinjiang where there are numerous accounts of abuse and torture at the internment camps where at least a million Uygurs (and other Muslims) are detained.

    #22631
    TradersCom
    Keymaster

    [color=red][size=5][b]Is that Risk Off We see…
    NASDAQ index lead stocks lower.

    S&P index -26.84 points or -0.85% to 3114.14
    Nasdaq index -97.483 points or -1.13% to 8567.98
    Dow -267.35 points or -0.95% to27784.06

    Most indices closed the day near the lows of the day.
    [/b][/size][/color]

    #22632
    TradersCom
    Keymaster

    Trump: China trade deal is dependent on whether or not I want to make it

    – Says that he has ‘no deadline’ on China deal timing
    – Probably better to wait until after the Nov 2020 election for the China deal

    #22633
    TradersCom
    Keymaster

    USD/JPY fresh one-week low under 108.80 as Trump says China deal may come after next year’s election

    Sellers further control as bond yields also fall on the day on Trump’s comments.
    US 10-year yields are now down by 2 bps to 1.798% from flat levels earlier as the lack of urgency for a trade deal is weighing on risk a little.

    #22634
    TradersCom
    Keymaster

    Meanwhile Cable at six-week highs as GBPUSD knocks on 1.3000 handle again

    The high today of 1.2995 is the highest level since 22 October, the 1.3000 level continues to prove a barrier and potential triple top or bust ….

    #22635
    TradersCom
    Keymaster

    North American economic calendar empty today

    Wards total vehicle sales for the month of November is the highlight

    According to Bloomberg the estimate is for 16.9 million units versus 16.55 million units in October.

    We have a 52 week auction in the US.

    Things heat up tomorrow in North America with:

    ADP nonfarm employment change estimate (140k vs 125K last month)
    Bank of Canada rate statement
    US ISM nonmanufacturing PMI
    weekly crude oil inventories

    On Thursday there is:

    Challenger job cuts
    Canadian trade balance
    US trade balance
    Weekly unemployment claims
    US factory orders

    And Friday

    US employment report. Nonfarm payroll expected to rise by 190K versus 128K last month
    Canada employment report. Employment change expected at 10K vs -1.8K
    Preliminary University of Michigan consumer sentiment. 97.0 versus 96.8 last month

    For today the lead from the equity and bond markets and any comments from Trump/administration officials.

    US stock futures are tacking on a -226 open in the Dow. The S&P index is down -20 points and the NASDAQ index is down -73 points. T

    #22636
    TradersCom
    Keymaster

    European Commission says EU will act as one on planned US tariffs on French goods

    European Commission comments on the US tariffs situation

    – WTO ruling not a basis for US to impose higher tariffs
    – Believes that WTO is the best place to settle trade disputes

    #22637
    TradersCom
    Keymaster

    China Global Times says

    In a tweet from the China Global Times (thought to be a sounding board for China officials) is saying:US appears to be backpedaling in trade talks

    Now we see an extension of the more risk averse mood in markets now as US traders begin to come in today. S&P 500 futures are down by 0.5% with Treasury yields also being dragged to session lows across the curve now. GBP leads, EUR and CAD lag on the day

    #22639

    [color=red][size=5][b]Dow 27,502.81 -280.23 -1.01%
    S&P 500 3,093.20 -20.67 -0.66%
    Nasdaq 8,520.64 -47.34 -0.55%
    Gold 1,482.80 -1.60 -0.11
    Oil 56.41 0.31 0.55%[/b][/size][/color]

    #22642
    TradersCom
    Keymaster

    Western France Runs Out Of Gas As “Massive Strikes” Set To Paralyze Entire Nation

    rance is bracing for major transportation disruptions throughout the country starting Thursday, as trade unions launch a strike in response to changes President Emmanuel Macron wants to make to the country’s retirement system, while port blockades have resulted in widespread fuel shortages across the country. Much of the Paris Metro will be shut down, as will many national and international train lines, including certain Eurostar services. Flights will also be canceled, as air traffic controllers say they will join the protests through Saturday.

    Hundreds of filling stations around western France have run out of gasoline and diesel as blockades of oil refineries enter their second week according to industry group UFIP. According to The Local, construction workers have been blockading refineries in Brittany since last week and a blockade at La Rochelle has resumed.

    French media reported on Tuesday morning that 390 filling stations have no fuel at all, and another 389 have limited supplies. The areas affected include Brittany, the west of France, the south east coast area around Marseille and some parts of eastern France near the Swiss border.

    Hundreds of fuel stations in France run dry as oil depot blockade continues

    ·

    #22643
    TradersCom
    Keymaster

    [quote=”TradersCom” post=12469]Western France Runs Out Of Gas As “Massive Strikes” Set To Paralyze Entire Nation

    rance is bracing for major transportation disruptions throughout the country starting Thursday, as trade unions launch a strike in response to changes President Emmanuel Macron wants to make to the country’s retirement system, while port blockades have resulted in widespread fuel shortages across the country. Much of the Paris Metro will be shut down, as will many national and international train lines, including certain Eurostar services. Flights will also be canceled, as air traffic controllers say they will join the protests through Saturday.

    Hundreds of filling stations around western France have run out of gasoline and diesel as blockades of oil refineries enter their second week according to industry group UFIP. According to The Local, construction workers have been blockading refineries in Brittany since last week and a blockade at La Rochelle has resumed.

    French media reported on Tuesday morning that 390 filling stations have no fuel at all, and another 389 have limited supplies. The areas affected include Brittany, the west of France, the south east coast area around Marseille and some parts of eastern France near the Swiss border.

    Hundreds of fuel stations in France run dry as oil depot blockade continues

    ·[/quote]

    [tweet]1202296862360952832[/tweet]

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