CFD Markets News and Forecasts — 24-07-2018

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24.07.2018
23:01
Commodities. Daily history for July 24’ 2018:


Raw materials

Closing price

% change

Oil

68.67

+1.15%

Gold

1,224.60

-0.08%

22:58
Stocks. Daily history for July 24’ 2018:


Index

Change items

Closing price

% change

Nikkei

+113.49

22510.48

+0.51%

TOPIX

+8.16

1746.86

+0.47%

CSI 300

+55.96

3581.71

+1.59%

KOSPI

+10.89

2280.20

+0.48%

FTSE 100

+53.26

7709.05

+0.70%

DAX

+140.82

12689.39

+1.12%

CAC 40

+55.94

5434.19

+1.04%

DJIA

+197.65

25241.94

+0.79%

S&P 500

+13.42

2820.40

+0.48%

NASDAQ

-1.10

7840.77

-0.01%

22:48
Currencies. Daily history for July 24’ 2018:


Pare

Closed

% change

EUR/USD

$1,1682

-0,05%

GBP/USD

$1,3142

+0,32%

USD/CHF

Chf0,99357

+0,10%

USD/JPY

Y111,19

-0,10%

EUR/JPY

Y129,91

-0,15%

GBP/JPY

Y146,138

+0,22%

AUD/USD

$0,7421

+0,53%

NZD/USD

$0,6806

+0,30%

USD/CAD

C$1,31565

-0,11%

22:45
New Zealand: Trade Balance, mln, June -113 (forecast 200)
20:17
The main US stock indexes finished trading mostly in positive territory

Major US stock indexes mostly rose on Tuesday, as strong quarterly results from Alphabet (GOOG) confirmed the expectations of a steady season of reports and caused rallies among technological stocks. The indices were also supported by the growth of quotations of the base materials sector.

In addition, investors were acting out data on the United States. As it became known, housing prices in the US rose by 0.2% in May compared to the previous month, according to the housing price index (HPI) from the Federal Agency for Housing Finance (FHFA). The previously reported increase of 0.1% in April was revised to 0.2%. FHFA monthly calculates HPI using information on housing prices from mortgages sold or guaranteed by Fannie Mae and Freddie Mac. From May 2017 to May 2018, house prices rose by 6.4%.

Meanwhile, US private sector companies demonstrated a robust growth in overall business activity in July, supported by improved economic conditions and another sharp rise in new orders. Taking into account the seasonal fluctuations, the consolidated issue index from IHS Markit for the USA reached 55.9 in July, slightly weakening from 56.2 in June, and became the lowest reading for three months. Nevertheless, the index remained well above the threshold of the neutral level of 50.0 and signaled the next reliable expansion of the total volume of production in the private sector.

Most of the components of DOW finished trading in positive territory (23 out of 30). The leader of growth was shares United Technologies Corporation (UTX, + 3.65%). Outsider were the shares of NIKE, Inc. (NKE, -1.44%).

Most sectors of the S & P recorded a rise. The base materials sector grew most (+ 1.5%), while the utilities sector showed the largest decrease (-0.4%).

At closing:

Dow 25,241.94 +197.65 +0.79%

S&P 500 2,820.40 +13.42 +0.48%

Nasdaq 100 7,840.77 -1.10 -0.01%

19:00
DJIA +0.57% 25,188.17 +143.88 Nasdaq -0.18% 7,827.76 -14.11 S&P +0.27% 2,814.45 +7.47
16:00
European stocks closed: FTSE 100 +53.26 7709.05 +0.70% DAX +140.82 12689.39 +1.12% CAC 40 +55.94 5434.19 +1.04%
14:19
U.S. private sector companies experienced a robust rise in overall business activity during July - Markit

U.S. private sector companies experienced a robust rise in overall business activity during July, supported by an improving economic backdrop and another sharp upturn in incoming new work. Relatively strong rates of business activity growth were recorded in both the manufacturing and service sectors. Intense cost pressures continued in July, which resulted in a sharp and accelerated increase in average prices charged by private sector firms. The latest rise in output charges was the fastest since composite data were first collected in October 2009.

The seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index posted 55.9 in July, down slightly from 56.2 in June and the lowest reading for three months. Nonetheless, the headline index remained well above the 50.0 nochange threshold and signalled another robust expansion of overall private sector output.

13:59
U.S.: Richmond Fed Manufacturing Index, July 20 (forecast 18)
13:59
Brexit Department Will Focus Preparations For Exit, No Deal Scenario @LiveSquawk

  • UK PM May Takes Control Of Brexit Talks, Relegates Brexit Department

13:45
U.S.: Services PMI, July 56.2 (forecast 56.5)
13:45
U.S.: Manufacturing PMI, July 55.5 (forecast 55.4)
13:32
U.S. Stocks open: Dow +0.45%, Nasdaq +0.92%, S&P +0.58%
13:15
U.S. house prices rose in May, up 0.2 percent from the previous month

U.S. house prices rose in May, up 0.2 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The previously reported 0.1 percent increase in April was revised upward to 0.2 percent.

The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. From May 2017 to May 2018, house prices were up 6.4 percent.

For the nine census divisions, seasonally adjusted monthly price changes from April 2018 to May 2018 ranged from -0.6 percent in the East North Central division to +1.5 percent in the East South Central division. The 12-month changes were all positive, ranging from +4.9 percent in the West South Central division to +9.1 percent in the Mountain division.

13:13
Before the bell: S&P futures +0.37%, NASDAQ futures +0.36%

U.S. stock-index futures rose on Tuesday, as investors digested an upbeat batch of earnings.


Global Stocks:

Index/commodity

Last

Today's Change, points

Today's Change, %

Nikkei

22,510.48

+113.49

+0.51%

Hang Seng

28,662.57

+406.45

+1.44%

Shanghai

2,905.94

+46.40

+1.62%

S&P/ASX

6,265.80

+38.20

+0.61%

FTSE

7,718.33

+62.54

+0.82%

CAC

5,429.77

+51.52

+0.96%

DAX

12,738.30

+189.73

+1.51%

Crude

$68.22


+0.49%

Gold

$1,235.10


+0.06%

13:00
U.S.: Housing Price Index, m/m, May 0.2% (forecast 0.4%)
12:52
Wall Street. Stocks before the bell

(company / ticker / price / change ($/%) / volume)


3M Co

MMM

194.43

-4.41(-2.22%)

164633

ALCOA INC.

AA

42.25

0.92(2.23%)

38362

Amazon.com Inc., NASDAQ

AMZN

1,826.80

24.80(1.38%)

53840

American Express Co

AXP

101.75

0.53(0.52%)

474

Apple Inc.

AAPL

192.46

0.85(0.44%)

143106

AT&T Inc

T

31.33

0.33(1.06%)

312120

Barrick Gold Corporation, NYSE

ABX

11.9

0.09(0.76%)

45030

Boeing Co

BA

357

3.73(1.06%)

9322

Caterpillar Inc

CAT

137.86

1.58(1.16%)

4885

Chevron Corp

CVX

121.9

0.57(0.47%)

3139

Cisco Systems Inc

CSCO

41.97

-0.09(-0.21%)

25004

Citigroup Inc., NYSE

C

70.41

0.20(0.28%)

12686

Deere & Company, NYSE

DE

137.48

1.95(1.44%)

460

Exxon Mobil Corp

XOM

81.96

0.56(0.69%)

1604

Facebook, Inc.

FB

215.4

4.49(2.13%)

327119

FedEx Corporation, NYSE

FDX

238

1.60(0.68%)

1249

Ford Motor Co.

F

10.51

0.04(0.38%)

72106

Freeport-McMoRan Copper & Gold Inc., NYSE

FCX

16.3

0.47(2.97%)

162096

General Electric Co

GE

13.12

0.13(1.00%)

648996

General Motors Company, NYSE

GM

39.55

0.28(0.71%)

4701

Goldman Sachs

GS

234.6

0.84(0.36%)

2850

Google Inc.

GOOG

1,256.00

50.50(4.19%)

51396

Home Depot Inc

HD

203.12

0.89(0.44%)

1568

HONEYWELL INTERNATIONAL INC.

HON

154.21

0.51(0.33%)

473

Intel Corp

INTC

52.65

0.34(0.65%)

30016

International Business Machines Co...

IBM

146.35

0.65(0.45%)

4727

Johnson & Johnson

JNJ

127.26

0.63(0.50%)

3385

JPMorgan Chase and Co

JPM

113.66

0.31(0.27%)

7047

McDonald's Corp

MCD

159.71

0.96(0.60%)

2340

Merck & Co Inc

MRK

63.06

0.37(0.59%)

3607

Microsoft Corp

MSFT

108.5

0.53(0.49%)

81700

Nike

NKE

76.99

0.40(0.52%)

2116

Pfizer Inc

PFE

37.49

0.28(0.75%)

2821

Procter & Gamble Co

PG

78.55

0.04(0.05%)

5868

Starbucks Corporation, NASDAQ

SBUX

51.13

-0.06(-0.12%)

6492

Tesla Motors, Inc., NASDAQ

TSLA

306

2.80(0.92%)

47237

The Coca-Cola Co

KO

45.1

0.15(0.33%)

1114

Twitter, Inc., NYSE

TWTR

43.8

0.49(1.13%)

119899

United Technologies Corp

UTX

127.16

-2.21(-1.71%)

55076

UnitedHealth Group Inc

UNH

254.22

1.48(0.59%)

696

Verizon Communications Inc

VZ

51.97

1.22(2.40%)

271239

Visa

V

140.89

0.86(0.61%)

18665

Wal-Mart Stores Inc

WMT

87.98

0.35(0.40%)

698

Walt Disney Co

DIS

111.61

0.52(0.47%)

1528

12:41
Target price changes before the market open

Alphabet A (GOOGL) target raised to $1475 from $1350 at B. Riley FBR

Alphabet A (GOOGL) target raised to $1080 from $1050 at Pivotal Research

Alphabet A (GOOGL) target raised to $1456 from $1234 at Stifel

Alphabet (GOOG) target raised to $1400 from $1285 at RBC Capital Mkts

Alphabet (GOOG) target raised to $1450 from $1350 at Oppenheimer

Apple (AAPL) target raised to $232 from $214 at Morgan Stanley

12:12
Tariffs are the greatest! Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs...@realDonaldTrump

"Tariffs are the greatest! Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs. It's as simple as that - and everybody's talking! Remember, we are the "piggy bank" that's being robbed. All will be Great!".

11:55
Company News: 3M (MMM) quarterly earnings miss analysts’ estimate

3M (MMM) reported Q2 FY 2018 earnings of $2.59 per share (versus $2.58 in Q2 FY 2017), missing analysts' consensus estimate of $2.60.

The company's quarterly revenues amounted to $8.390 bln (+7.4% y/y), generally in-line with analysts' consensus estimate of $8.357 bln.

MMM fell to $198.00 (-0.42%) in pre-market trading.

11:54
Company News: Verizon (VZ) quarterly results beat analysts’ expectations

Verizon (VZ) reported Q2 FY 2018 earnings of $1.20 per share (versus $0.96 in Q2 FY 2017), beating analysts' consensus estimate of $1.15.

The company's quarterly revenues amounted to $32.203 bln (+5.4% y/y), beating analysts' consensus estimate of $31.779 bln.

VZ rose to $51.80 (+2.07%) in pre-market trading.

11:41
Company News: United Tech (UTX) quarterly results beat analysts’ forecasts

United Tech (UTX) reported Q2 FY 2018 earnings of $1.97 per share (versus $1.85 in Q2 FY 2017), beating analysts' consensus estimate of $1.86.

The company's quarterly revenues amounted to $16.705 bln (+9.3% y/y), beating analysts' consensus estimate of $16.255 bln.

The company also issued guidance for FY 2018, projecting EPS of $7.10-7.25 (versus analysts' consensus estimate of $7.11 and prior guidance of $6.95-7.15) and revenues of $63.5-64.5 bln (versus analysts' consensus estimate of $64.72 bln and prior guidance of $63.0-64.5 bln.).

UTX rose to $132.50 (+2.42%) in pre-market trading.

10:26
UK manufacturing growth accelerated to its strongest pace in a year, according to the latest quarterly CBI Industrial Trends Survey

The survey of 357 manufacturers revealed that new orders continued to expand at a brisk pace, with a pick-up in the domestic market offsetting a slight slowdown in new export orders. Sentiment about general business conditions was unchanged for a second consecutive quarter, but optimism regarding export prospects stalled, having increased steadily for much of the past two years. Growth in output and total orders are expected to slow moderately in the three months to October.

Investment intentions deteriorated significantly in the three months to July. Firms are planning to keep spending on plant and machinery broadly stable over the year ahead and expect to cut back on investment in buildings at a pace that is broadly in line with the historical average. However, firms have dialled down on investment in "intangible" assets - product & process innovation and training & re-training - with spending in both categories expected to fall at a pace unseen since the global financial crisis.

10:00
United Kingdom: CBI industrial order books balance, July 11 (forecast 9)
09:58
Company News: Alphabet (GOOG) quarterly results beat analysts’ estimates

Alphabet (GOOG) reported Q2 FY 2018 earnings of $11.75 per share (versus $5.01 in Q2 FY 2017), beating analysts' consensus estimate of $9.70.

The company's quarterly revenues amounted to $32.657 bln (+25.6% y/y), beating analysts' consensus estimate of $32.127 bln.

GOOG rose to $1,253.11 (+3.95 %) in pre-market trading.

09:30
Ratings firm Icra says India's central bank is expected to raise rates further next week

Ratings firm Icra says India's central bank is expected to raise rates further next week amid June's inflation data and rising state spending. The RBI did its first increase in 4 1/2 years last month, but Icra expects policymakers to maintain their neutral stance amid a lack of clarity regarding on inflation and fiscal trends.

08:35
ECB: Eurozone Banks Eased Credit Standards for Loans to Enterprises in 2Q 2018

  • Eurozone Banks Expect Continued Net Easing of Credit Standards in All Segments in 3Q 2018

08:07
FTSE 2,28 7658,07 + 0,03% DAX 41,55 12590,12 + 0,33% CAC 18,62 5396,87 + 0,35%
08:07
Euro zone composite PMI a little lower than expected in July

The IHS Markit Eurozone Composite PMI fell to 54.3 from 54.9 in June, according to the July flash reading (which is based on approximately 85% of usual replies). The latest reading was the secondweakest since November 2016, only narrowly beating May's recent low.

Commenting on the flash PMI data, Chris Williamson, Chief Business Economist at IHS Markit said: "The flash PMI suggests the eurozone started the second half of the year on a relatively soft footing, indicative of GDP growth slowing in the third quarter. The July reading is consistent with quarterly GDP growth of 0.4%, down from a 0.5% expansion indicated by the surveys for the second quarter. "The renewed slowdown comes as a disappointment, confirming suspicions that June's rebound was temporary, largely due to businesses in some countries making up for an unusually high number of public holidays in May. "Given the waning growth of new business and further slide in business optimism, the outlook has also deteriorated, notably in manufacturing, where the surveys saw worries about trade wars intensify markedly in July".

08:00
Eurozone: Services PMI, July 54.4 (forecast 55)
08:00
Eurozone: Manufacturing PMI, July 55.1 (forecast 54.6)
07:40
July saw a further pick-up in the rate of growth of Germany’s private sector economy from a 20-month low in May

July saw a further pick-up in the rate of growth of Germany's private sector economy from a 20-month low in May to a five-month high, driven by a stronger increase in manufacturing output. New order growth also gathered pace, seeing the steepest rise for four months. Private sector firms continued to add staff at a marked rate, while price pressures intensified.

The IHS Markit Flash Germany Composite Output Index rose to 55.2 in July from 54.8 in June, to signal a second successive monthly acceleration in the rate of growth in private sector business activity. The implied expansion was the fastest since February, but remained below the strong trend shown over 2017.

07:30
Germany: Manufacturing PMI, July 57.3 (forecast 55.5)
07:30
Germany: Services PMI, July 54.4 (forecast 54.3)
07:29
BoE’s Broadbent: unsure which way he’ll vote on rates in august meeting
07:27
Trump: Talking With Mexico On ‘Something Dramatic’ On Trade @LiveSquawk
07:20
Growth remained broad-based across the French manufacturing and service sectors

At 54.5 in July, down from 55.0 in the previous month, the IHS Markit Flash France Composite Output Index remained above the crucial 50.0 nochange mark for a twenty-fifth month in a row. Although down since June, the index remained strong in the context of the series history.

Growth remained broad-based across the manufacturing and service sectors, albeit noticeably sharper in the latter. Service providers recorded a twenty-fifth consecutive expansion in business activity, buoyed by a further rise in new orders. Robust economic conditions and the football World Cup were cited as factors contributing to growth. The rate of increase eased slightly from June but remained marked overall.

07:00
France: Services PMI, July 55.3 (forecast 55.7)
07:00
France: Manufacturing PMI, July 53.1 (forecast 52.4)
06:53
Options levels on tuesday, July 24, 2018 EURUSD GBPUSD

EUR/USD

Resistance levels (open interest**, contracts)

$1.1833 (3547)

$1.1780 (2354)

$1.1747 (155)

Price at time of writing this review: $1.1667

Support levels (open interest**, contracts):

$1.1623 (3360)

$1.1583 (3546)

$1.1560 (2648)


Comments:

- Overall open interest on the CALL options and PUT options with the expiration date August, 13 is 86663 contracts (according to data from July, 23) with the maximum number of contracts with strike price $1,1850 (5245);


GBP/USD

Resistance levels (open interest**, contracts)

$1.3247 (723)

$1.3196 (672)

$1.3164 (285)

Price at time of writing this review: $1.3072

Support levels (open interest**, contracts):

$1.3034 (2122)

$1.3002 (2227)

$1.2966 (1597)


Comments:

- Overall open interest on the CALL options with the expiration date August, 13 is 24110 contracts, with the maximum number of contracts with strike price $1,3600 (3206);

- Overall open interest on the PUT options with the expiration date August, 13 is 27288 contracts, with the maximum number of contracts with strike price $1,2950 (2300);

- The ratio of PUT/CALL was 1.13 versus 1.13 from the previous trading day according to data from July, 23.

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.

06:48
Flash survey data pointed to a slowing of growth momentum for Japan’s manufacturing sector at the beginning of the third quarter - Markit
  • Japan Flash Manufacturing PMI falls to 20-month low of 51.6 in July, from 53.0 in June

  • Input and output price inflation both accelerate to multi-year highs

  • Business confidence dips noticeably

Commenting on the Japanese Manufacturing PMI survey data, Joe Hayes, Economist at IHS Markit, which compiles the survey, said: "Flash survey data pointed to a slowing of growth momentum for Japan's manufacturing sector at the beginning of the third quarter, following a robust performance so far this year. "New business grew at a much weaker rate and was broadly flat, while export demand, despite further yen depreciation, deteriorated for a second month running.

"Slowing demand presents a worrying development given input delivery times lengthened to the sharpest extent in over seven years. Supply chain difficulties reportedly contributed to the fastest rate of input price inflation in since March 2011. Although output prices were raised at a relatively notable pace, the rate of increase was far weaker than that of costs, implying profit margin erosion".

06:44
Futures: Eurostoxx +0,6% DAX +0,8% FTSE +0,7% CAC 40 +0,6%
05:02
Japan: Coincident Index, May 116.8 (forecast 116.2)
05:02
Japan: Leading Economic Index , May 106.9 (forecast 106.9)
00:30
Japan: Manufacturing PMI, July 51.6 (forecast 52.7)

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