CFD Markets News and Forecasts — 12-10-2018

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12.10.2018
19:01
DJIA +0.60% 25,203.45 +150.62 Nasdaq +1.63% 7,448.70 +119.64 S&P +0.84% 2,751.22 +22.85
17:04
U.S.: Baker Hughes Oil Rig Count, October 869
16:01
European stocks closed: FTSE 100 -11.02 6995.91 -0.16% DAX -15.54 11523.81 -0.13% CAC 40 -10.39 5095.98 -0.20%
14:00
U.S.: Reuters/Michigan Consumer Sentiment Index, October 99 (forecast 100.4)
13:35
U.S. Stocks open: Dow +1.50%, Nasdaq +2.20%, S&P +1.48%
13:27
Before the bell: S&P futures +1.02%, NASDAQ futures +1.48%

U.S. stock-index futures rose noticeably on Friday, as worries over rising rates mitigated and tech shares recovered from drastic losses earlier this week. In addition, a slew of strong bank financials also helped boost the market.


Global Stocks:

Index/commodity

Last

Today's Change, points

Today's Change, %

Nikkei

22,694.66

+103.80

+0.46%

Hang Seng

25,801.49

+535.12

+2.12%

Shanghai

2,606.91

+23.45

+0.91%

S&P/ASX

5,895.70

+11.90

+0.20%

FTSE

7,058.45

+51.52

+0.74%

CAC

5,149.49

+43.12

+0.84%

DAX

11,624.28

+84.93

+0.74%

Crude

$71.89


+1.30%

Gold

$1,224.20


-0.28%

12:50
The U.S 10-year Treasury note yield was up 3.6 basis points to 3.167%. The 2-year note yield advanced 2.9 basis points to 2.869%, while the 30-year bond yield climbed 3.7 basis points to 3.342%
12:49
Wall Street. Stocks before the bell

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


3M Co

MMM

199

2.27(1.15%)

2348

ALCOA INC.

AA

36.55

0.88(2.47%)

1803

ALTRIA GROUP INC.

MO

60.56

-0.56(-0.92%)

2484

Amazon.com Inc., NASDAQ

AMZN

1,784.98

65.62(3.82%)

200773

American Express Co

AXP

103.59

2.01(1.98%)

3327

AMERICAN INTERNATIONAL GROUP

AIG

50.93

0.79(1.58%)

1452

Apple Inc.

AAPL

219.08

4.63(2.16%)

346471

AT&T Inc

T

32.18

0.43(1.35%)

101599

Barrick Gold Corporation, NYSE

ABX

12.54

-0.04(-0.32%)

95987

Boeing Co

BA

365.48

7.37(2.06%)

21676

Caterpillar Inc

CAT

144

3.03(2.15%)

5445

Chevron Corp

CVX

120.4

1.97(1.66%)

4811

Cisco Systems Inc

CSCO

45.23

1.11(2.52%)

55675

Citigroup Inc., NYSE

C

70.24

1.86(2.72%)

221802

Deere & Company, NYSE

DE

148.22

1.75(1.19%)

3958

Exxon Mobil Corp

XOM

82.9

1.30(1.59%)

4637

Facebook, Inc.

FB

155.94

2.59(1.69%)

242906

Ford Motor Co.

F

8.95

0.14(1.59%)

55921

Freeport-McMoRan Copper & Gold Inc., NYSE

FCX

13.6

0.42(3.19%)

51277

General Electric Co

GE

12.82

0.10(0.79%)

491350

General Motors Company, NYSE

GM

32.76

0.45(1.39%)

4495

Goldman Sachs

GS

217.3

4.33(2.03%)

27689

Google Inc.

GOOG

1,101.87

22.55(2.09%)

11661

Hewlett-Packard Co.

HPQ

23.6

0.59(2.56%)

7616

Home Depot Inc

HD

193

3.26(1.72%)

8613

HONEYWELL INTERNATIONAL INC.

HON

155.8

2.18(1.42%)

2524

Intel Corp

INTC

45.14

0.91(2.06%)

82064

International Business Machines Co...

IBM

141.28

2.26(1.63%)

6459

International Paper Company

IP

43.94

1.12(2.62%)

1764

Johnson & Johnson

JNJ

134.75

0.91(0.68%)

7840

JPMorgan Chase and Co

JPM

110

1.87(1.73%)

273095

McDonald's Corp

MCD

165.4

2.43(1.49%)

2830

Merck & Co Inc

MRK

69.45

1.08(1.58%)

2568

Microsoft Corp

MSFT

108.86

2.95(2.79%)

286779

Nike

NKE

75.55

1.04(1.40%)

16791

Pfizer Inc

PFE

43.25

0.44(1.03%)

7297

Procter & Gamble Co

PG

79.44

0.57(0.72%)

7123

Starbucks Corporation, NASDAQ

SBUX

55.97

1.11(2.02%)

35881

Tesla Motors, Inc., NASDAQ

TSLA

258.98

6.75(2.68%)

110789

The Coca-Cola Co

KO

44.86

0.22(0.49%)

4285

Twitter, Inc., NYSE

TWTR

27.73

0.73(2.70%)

76546

UnitedHealth Group Inc

UNH

261.09

3.97(1.54%)

3906

Verizon Communications Inc

VZ

54

0.67(1.26%)

15726

Visa

V

137.46

3.73(2.79%)

35195

Wal-Mart Stores Inc

WMT

95.25

1.33(1.42%)

11553

Walt Disney Co

DIS

111.4

0.25(0.22%)

68741

12:46
Upgrades before the market open

Twitter (TWTR) upgraded to Hold from Sell at Pivotal Research Group; target lowered to $24 from $26

Microsoft (MSFT) upgraded to Outperform from Neutral at Macquarie

12:34
Prices for U.S. imports increased 0.5 percent in September

Prices for U.S. imports increased 0.5 percent in September, the U.S. Bureau of Labor Statistics reported today, after declining 0.4 percent in August and 0.1 percent in July. The September advance was led by higher fuel prices. U.S. export prices recorded no change in September following declines of 0.2 percent and 0.5 percent the previous 2 months.

Import prices advanced 0.5 percent in September, the first monthly increase since a 0.9-percent rise in May. The upturn reversed the declines in each of the previous 2 months. Prices for overall imports rose 3.5 percent from September 2017 to September 2018 and have not recorded an over-the-year decrease since the index fell 0.2 percent in October 2016.

12:30
U.S.: Import Price Index, September 0.5% (forecast 0.2%)
12:22
Company News: Wells Fargo (WFC) Q3 earnings miss analysts’ estimate

Wells Fargo (WFC) reported Q3 FY 2018 earnings of $1.13 per share (versus $0.84 in Q3 FY 2017), missing analysts' consensus estimate of $1.17.

The company's quarterly revenues amounted to $21.941 bln (+0.4% y/y), generally in-line with analysts' consensus estimate of $21.850 bln.

WFC rose to $52.28 (+1.63%) in pre-market trading.

12:17
Company News: Citigroup (C) Q3 earnings beat analysts’ forecast

Citigroup (C) reported Q3 FY 2018 earnings of $1.73 per share (versus $1.42 in Q3 FY 2017), beating analysts' consensus estimate of $1.66.

The company's quarterly revenues amounted to $18.389 bln (-0.2% y/y), generally in-line with analysts' consensus estimate of $18.469 bln.

С rose to $69.80 (+2.08%) in pre-market trading.

11:08
Company News: JPMorgan Chase (JPM) Q3 earnings beat analysts’ estimate

JPMorgan Chase (JPM) reported Q3 FY 2018 earnings of $2.34 per share (versus $1.76 in Q3 FY 2017), beating analysts' consensus estimate of $2.26.

The company's quarterly revenues amounted to $27.3 bln (+7.8% y/y), generally in-line with analysts' consensus estimate of $27.318 bln.

JPM rose to $109.38 (+1.16%) in pre-market trading.

10:26
Draghi: Preserving Openness Is Crucial for Global Economy

  • Some Parts of Real-Estate Markets Warrant Close Monitoring in Some Eurozone Countries

  • No Sign of Excessive Credit Growth, Broad-Based Asset Price Misalignments

09:28
Oil Defends Bullish Trend Line



The price of oil dropped sharply on Wednesday and Thursday, but Friday's rally erased some of the losses and, more importantly, oil remained above the bullish trend line from August lows. It was trading at more than 1 per cent stronger on Friday, hovering slightly below the 72 USD level.

Yesterday, bears pushed the price slightly below the uptrend line, which is currently at around 71.20 USD, but today's dip buying brought the price back above the trend line. As long as the price remains above this line, the outlook still seems bullish.

The next target for bulls could be at previous highs, which are located near 72.80 USD and, if this resistance is broken, further rise toward 74.30 USD might occur quickly. The greenback has been falling in recent days and inflation slowed notably, meaning oil could be supported by these factors in the near future.

On the downside, support might be at the mentioned trend line, currently at 71.30 USD and if not held, yesterday's lows of 70.55 USD might be tested. Another buying zone could be located at the psychological level of 70.00 USD.

Disclaimer:

Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or an investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.

09:04
In August 2018 compared with July 2018, seasonally adjusted industrial production rose by 1.0% in the euro area (EA19) and by 0.8% in the EU28

In August 2018 compared with July 2018, seasonally adjusted industrial production rose by 1.0% in the euro area (EA19) and by 0.8% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In July 2018, industrial production fell by 0.7% in the euro area and by 0.6% in the EU28. In August 2018 compared with August 2017, industrial production increased by 0.9% in the euro area and by 1.2% in the EU28.

In the euro area in August 2018, compared with July 2018, production of energy rose by 1.9%, durable consumer goods by 1.5%, both capital goods and non-durable consumer goods by 1.4% and intermediate goods by 0.4%. In the EU28, production of capital goods rose by 1.2%, non-durable consumer goods by 1.1%, energy by 0.9%, durable consumer goods by 0.8% and intermediate goods by 0.3%. Among Member States for which data are available, the highest increases in industrial production were registered in Malta (+9.9%), Ireland (+8.0%) and Hungary (+3.8%). A decrease was observed in Denmark (-4.5%).

09:00
Eurozone: Industrial production, (MoM), August 1% (forecast 0.4%)
09:00
Eurozone: Industrial Production (YoY), August 0.9% (forecast -0.2%)
08:52
IEA Lowers Oil-Demand Growth Forecasts for 2018, 2019

  • Sees Oil Demand Growing at 1.3 Mln B/D in 2018, 1.4 Mln B/D in 2019

  • Global Oil Supply Was Steady in September at Around 100 Mln B/D

  • Total OPEC Crude Output Rose in September by 100,000 B/D

  • Says Russian Oil Production Rose in September by 160,000 B/D

  • Iranian Oil Output Fell in September by 180,000 B/D

08:50
ECB's Draghi: The euro area economy continues to expand in a broad-based manner, across countries and sectors, despite some moderation following its strong growth in 2017
  • Uncertainty around inflation outlook is receding

  • Economic indicators suggest that broad-based growth will continue

  • Significant monetary policy stimulus is still needed

  • Underlying inflation is expected to pick up towards the end of the year

  • And it would then increase gradually over the medium-term

  • Sees limited contagion from recent financial market volatility

  • Cliff-edge Brexit could have potential to pose a more significant downside risk to financial stability - via forexlive.

08:06
UK FinMin Hammond: Always Optimistic That We Would Reach A Brexit Deal @LiveSquawk

  • Over past 10 days been a measurable change in pace, engagement from both sides to solve problem instead of posturing on brexit

07:26
Chinese trade balance surplus rose more than expected in September

China's exports logged a double-digit growth in September, according to rttnews.

Exports grew 14.5 percent year-on-year in September, faster than the 9.8 percent increase seen in August.

At the same time, imports advanced 14.3 percent annually. As a result, the trade surplus increased to around $32 billion in September.

The big picture is the Chinese exports have so far held up well in the face of escalating trade tensions and cooling global growth, most likely thanks to the competitiveness boost provided by a weaker renminbi, Julian Evans-Pritchard, an economist at Capital Economics, said.

07:24
FTSE +28.56 7035.49 +0.41% DAX +141.33 11680.68 +1.22% CAC +51.43 5157.80 +1.01%
07:24
ArcelorMittal Selling Facilities in Romania, Macedonia, Italy, Czech Republic

  • Deal Is Subject to Completion of Ilva Acquisition

  • Negotiations Still Ongoing for Assets in Belgium, Luxembourg

07:07
Options levels on friday, October 12, 2018 EURUSD GBPUSD

EUR/USD

Resistance levels (open interest**, contracts)

$1.1748 (1830)

$1.1709 (957)

$1.1676 (115)

Price at time of writing this review: $1.1588

Support levels (open interest**, contracts):

$1.1555 (2686)

$1.1526 (4460)

$1.1493 (3175)


Comments:

- Overall open interest on the CALL options and PUT options with the expiration date November, 19 is 79107 contracts (according to data from October, 11) with the maximum number of contracts with strike price $1,1600 (4460);


GBP/USD

Resistance levels (open interest**, contracts)

$1.3384 (2258)

$1.3351 (1023)

$1.3310 (388)

Price at time of writing this review: $1.3254

Support levels (open interest**, contracts):

$1.3144 (272)

$1.3118 (368)

$1.3088 (713)


Comments:

- Overall open interest on the CALL options with the expiration date November, 19 is 22801 contracts, with the maximum number of contracts with strike price $1,3500 (3537);

- Overall open interest on the PUT options with the expiration date November, 19 is 25807 contracts, with the maximum number of contracts with strike price $1,2900 (2121);

- The ratio of PUT/CALL was 1.13 versus 1.22 from the previous trading day according to data from October, 11

* - 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.

06:42
Futures: DAX +0,8% FTSE +0,5% CAC 40 +0,9%
06:41
Australian home loans declined 2.1% in August

The trend estimate for the total value of dwelling finance commitments excluding alterations and additions fell 0.6%. Owner occupied housing commitments fell 0.2% and investment housing commitments fell 1.2%.

In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions fell 2.1%.

In trend terms, the number of commitments for owner occupied housing finance fell 0.4% in August 2018.

In trend terms, the number of commitments for the purchase of new dwellings fell 1.9%, the number of commitments for the purchase of established dwellings fell 0.4%, while the number of commitments for the construction of dwellings rose 0.2%.

In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments fell to 17.8% in August 2018 from 18.0% in July 2018.

06:40
Consumer prices in Germany were 2.3% higher in September 2018 compared with September 2017

The inflation rate - measured by the consumer price index - thus increased. A higher inflation rate was last recorded in November 2011 (+2.4%). Compared with August 2018, the consumer price index rose by 0.4% in September 2018. The Federal Statistical Office (Destatis) thus confirms its provisional overall results of 27 September 2018.

As in the preceding months, the increase of energy product prices had a considerable effect on the inflation rate. Energy prices rose 7.7% in September 2018 on September 2017. The rate of energy price increase thus increased again (August 2018: +6.9%). In September 2018, the prices of heating oil (+35.6%) and motor fuels (+13.0%), in particular, were higher than a year earlier. While the prices of mineral oil products rose sharply, relatively moderate price developments were observed for other energy products (for example, charges for central and district heating: +2.4%; electricity: +0.9%; gas: -1.5%). Excluding energy prices, the inflation rate would have been +1.6% in September 2018.

06:00
Germany: CPI, m/m, September 0.4% (forecast 0.4%)
06:00
Germany: CPI, y/y , September 2.3% (forecast 2.3%)
05:59
Trump and Xi have agreed to meet next month at G-20: Wash. Post
05:58
Kansas City Fed's George: Gradual Rate Rises Seem Appropriate

  • Fed Rates Still Below Long-Run Levels

  • Current Fed Policy Could Allow Inflation to Heat Up

  • Fed's Job and Inflation Goals Have Largely Been Achieved

  • Risks to Economic Outlook Are 'Balanced'

  • Fed Policy Can't Be on Preset Course Right Now

05:58
Senior IMF Official: Too Early To Talk About Normalisation Of Monetary Policy In Japan @LiveSquawk
05:57
Fed's George: U.S. Economy Is 'Performing Well'
05:54
ECB cannot come to Italy's rescue without EU bailout: sources - Reuters
04:31
Japan: Tertiary Industry Index , August 0.5% (forecast 0.3%)
03:01
China: Trade Balance, bln, September 31.69 (forecast 19.4)
00:30
Australia: Home Loans , August -2.1% (forecast 0.1%)

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