Latest news *In US economic data, retail sales rose by 0.8% in...

  1. 6,195 Posts.
    lightbulb Created with Sketch. 37
    Latest news

    *In US economic data, retail sales rose by 0.8% in October (forecast +0.5%). Excluding autos, sales rose by 0.7% (forecast +0.5%). Export prices rose by 0.4% in October (forecast +0.1%) with import prices up 0.5% (forecast +0.1%). Business inventories rose 0.3% as expected in September. The Philadelphia Federal Reserve index eased from +22.2 to +12.9 in November. The Empire State index rose from +21.1 to +23.3 in November.

    * European sharemarkets fell on Thursday. The pan-European STOXX600 index fell by 1.1%. The German Dax index fell by 0.5%. But the UK FTSE index was up 0.1% as a fall in pound sterling boosted prospects for exporters. Six government cabinet ministers have resigned over the proposed Brexit deal. Shares in RBS fell 9.6% as financial stocks fell in response to uncertainty on the Brexit deal. In London trade, shares of Rio Tinto rose by 2.4% and BHP lifted by 2.8%.

    * US sharemarkets remained volatile over the Thursday session. Shares lifted from lows after Financial Times reported that U.S. Trade Representative Robert Lighthizer has told industry executives that the next round of tariffs on Chinese imports has been put on hold. Shares in retailers were mixed after reporting third-quarter results with Walmart down 2.1%, JC Penney up 12.8% and Dillard's down 14.2%. With an hour of trade to go, the Dow Jones was up by 200 points or 0.8% after tracking a 567 point range. The S&P500 index was up by 1.0% and the Nasdaq index was higher by 122 points or 1.7%.

    * US treasury bond prices rose on Thursday (yields fell) on Thursday as global investors fretted about whether there would be a Brexit deal in the UK. US 2-year yields fell by 1 point to 2.87% and US 10-year yields were steady near 3.125%.

    * The Euro and commodity currencies were firmer against the US dollar in US and European trade compared with the Asian close. The Euro held between US$1.1275 and US$1.1360 and was near US$1.1350 in late US trade. The Aussie dollar held between US72.50 cents and US73 cents and was near US72.95 cents in late US trade. And the Japanese yen eased from 113.10 yen per US dollar to JPY113.70 and was near JPY113.65 in late US trade.

    * Global oil prices rose on Thursday with some investors believing the sell-off over the past three weeks had been overdone. There are still doubts about how oil producers will respond to fears of a supply glut. Analysts largely shrugged off data from the US Energy Information Administration that showed crude inventories rose by 10.3 million barrels last week (forecast +3.2 million barrels). Brent crude rose by US47 cents or 0.7% to US$66.59 a barrel and the US Nymex price rose by US21 cents or 0.4% to US$56.46 a barrel.

    * Base metal prices were mixed on Thursday with zinc, copper and tin up by as much as 3.2% with zinc leading the way. Other metals fell up to 1%.

    * The gold futures price rose by US$4.90 an ounce or 0.4% to $1,215 an ounce. The spot gold price was trading near US$1,213 an ounce in late US trade. Iron ore fell by US40 cents or 0.5% to US$74.15 a tonne.

    Ahead: In Australia, the State Accounts for 2017/18 are released. The US Federal Reserve chair, Jerome Powell delivers speech with no text or Q&A expected. In the US production and capital flows

    Source: Commsec
    Last edited by steps_asx: 16/11/18
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.