Market Weekly: June 10 – June 16 2019

Viewing 15 posts - 1 through 15 (of 27 total)
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  • #20903

    [size=5][i]Where have we been and where are we 🙂
    Wishing all a great week ahead & all best in trading/investing 8)
    In past 2 days we have had over 10″ of rain as the Houston tropical storm stalled over SW VA
    Even almost stepped on a new born fawn along trail on Friday, but it moved just in time :ohmy:
    Thankful Mexico got the tariffs cancelled & hopeful more good things are ahead for USA :)[/i][/size]

    [article]1554[/article]

    #20910
    Truman
    Participant

    Stock Futures Gap UP Sunday night Put a little spice on that Taco!

    via @chigrl
    4m4 minutes ago

    #20911
    Truman
    Participant

    More from Patrick Rooney @patrickrooney
    3m3 minutes ago

    #Pesos, #crude, #ES_F and #ZB_F made big moves early. #Mexico #Trade #Markets @Trading_Tech

    #20912
    ClemSnide
    Participant

    Have a great week all – glad the fawn got out of your way in time CI – just like those Mexican tariffs!

    Lets see if these overnight gets any momentum or is just another gap to be filled.

    #20914
    TradersCom
    Keymaster

    [size=5][color=red][b] US Treasury Secretary Steven Mnuchin Accuses China of Manipulating Yuan Weaker
    [/b][/color][/size]
    Via the South China Morning Post on the sidelines of the G20 finance ministers’ meeting in Japan.

    “It’s not coincidental in my mind that the currency has moved from approximately 6.30 to 6.90. Traditionally to manipulate a currency, official intervention in the foreign exchange market has to be conducted in a certain way. Intervening to support the currency’s exchange rate is not regarded as currency manipulation. However, when the market is expecting intervention because there have been interventions to support a currency for a very long time – whether by China or any other country – then when there is no intervention that could create a big market impact The decision not to intervene after intervening for a very long period of time may lead the market to view that there is a desire to have the currency to weaken.”

    Accused China of allowing the yuan to slide to help offset the impact of US trade tariffs on the cost of its goods

    #20925

    [color=green][size=5][b]Dow 26,062.68 78.74 0.30%
    S&P 500 2,886.73 13.39 0.47%
    Nasdaq 7,823.17 81.07 1.05%
    GlobalDow 3,005.02 12.78 0.43%
    Gold 1,332.20 -13.90 -1.03%
    Oil 53.34 -0.65 -1.22% [/b][/size][/color]

    #20928
    TradersCom
    Keymaster

    US May NFIB small business optimism index 105.0 v 102.0 expected, Prior 103.5

    Six components in the Small Business Optimism Index improved, three were unchanged, and one dipped. Capital spending plans increased along with actual outlays. Small business owners’ expectations for sales, business conditions, and expansion all rose, as the previously reported inventory imbalance was resolved. Earnings, job creation, and compensation remained very strong.

    #20929
    TradersCom
    Keymaster

    US final demand PPI for May 0.1% as expected. YoY 1.8% versus 2.0% est. prior 2.2%.

    US PPI ex food and energy 0.2% v 0.2% estimate
    US PPI ex food energy and trade 0.4% v 0.2% estimate
    US PPI ex food and energy YoY 2.3% s 2.3% estimate. 2.4% last month
    US PPI ex food energy trade YoY 2.3% v 2.2% last month

    Producer Prices in the United States averaged 109.61 Index Points from 2009 until 2019, reaching an all time high of 118.20 Index Points in May of 2019 and a record low of 100.20 Index Points in November of 2009.

    #20930


    [color=red][size=5][b]Dow 26,048.51 -14.17 -0.05%
    S&P 500 2,885.72 -1.01 -0.03%
    Nasdaq 7,822.57 -0.60 -0.01%
    GlobalDow 3,019.63 15.10 0.50%
    Gold 1,330.60 1.30 0.10%
    Oil 53.08 -0.18 -0.34%[/b][/size][/color]

    #20937
    TradersCom
    Keymaster

    US MBA mortgage applications w/e. 7 June +26.8% vs +1.5% prior

    Mortgage Bankers Association for the week ending 7 June 2019

    Purchase index 278.4 vs 253.1 prior
    Market index 529.8 vs 417.8 prior
    Refinancing index 1,956.5 vs 1,335.6 prior
    30-year mortgage rate 4.12% vs 4.23% prior

    Mortgage applications jump to their highest level since September 2016 with a surge in refinancing activity amid a continued fall in the long-term mortgage rate. Refinancing activity expanded to 1,956.5, the highest since November 2016 and accounted for 49.8% of mortgage apps.

    #20938
    ThePitBoss
    Participant

    [quote=”TradersCom” post=10750]US MBA mortgage applications w/e. 7 June +26.8% vs +1.5% prior

    Mortgage Bankers Association for the week ending 7 June 2019

    Purchase index 278.4 vs 253.1 prior
    Market index 529.8 vs 417.8 prior
    Refinancing index 1,956.5 vs 1,335.6 prior
    30-year mortgage rate 4.12% vs 4.23% prior

    Mortgage applications jump to their highest level since September 2016 with a surge in refinancing activity amid a continued fall in the long-term mortgage rate. Refinancing activity expanded to 1,956.5, the highest since November 2016 and accounted for 49.8% of mortgage apps.[/quote]

    Low rates kicking in

    #20940
    TradersCom
    Keymaster

    US May CPI +1.8% y/y v +1.9% y/y expected Prior +2.0% y/y

    Ex food and energy +2.0% vs +2.1% y/y expected Prior +2.1% y/y

    M/M readings:
    CPI +0.1% vs +0.1% expected Prior +0.3%

    Ex food and energy +0.1% vs +0.2% expected Prior ex food and energy +0.1%

    Earnings:
    Avg hourly earnings +1.3% vs +1.2% prior
    Avg weekly earnings +1.0% vs +0.9%

    US 2-year yields fell to 1.88% from 1.90% on the report

    #20942


    [color=red][size=5][b]Dow 26,004.83 -43.68 -0.17%
    S&P 500 2,879.84 -5.88 -0.20%
    Nasdaq 7,792.72 -29.85 -0.38%
    Gold 1,336.80 5.60 0.42%
    Oil 51.09 -2.18 -4.09%[/b][/size][/color]

    #20945
    MoneyNeverSleeps
    Participant

    Boeing reported No new commercial aircraft orders for the second straight month in May

    BA says they have a backlog of of about 5,000 planes however

    Boeing took orders for 43 jets in May 2018.

    Stock not hit too much:

    Market Summary > Boeing Co
    NYSE: BA 347.03 USD −2.30 (0.66%)

    #20946
    MoneyNeverSleeps
    Participant

    Hong Kong government says headquarters to be closed on Thursday & Friday

    Earlier they announced postponement of the extradition bill in council yesterday


    :
    The protests in Hong Kong have been declared a “riot”, punishable by up to 10 years in prison.

    Via South China Morning Post

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