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stock-market-update
HOME > Markets >Stock Market Update >Global Markets Mostly Higher
Stock Market Update
Market Snapshot
Dow (%)
Nasdaq (%)
SP 500 (%)
10-yr Note -2/32 3.158
NYSE Adv Dec Vol
Nasdaq Adv Dec Vol

Industry Watch
Strong: Information Technology, Consumer Discretionary
Weak: Utilities, Consumer Staples

Moving the Market

Stocks attempt to rebound after falling sharply on Wednesday and Thursday

Financials roll over following mixed earnings from JPMorgan Chase (JPM), Citigroup (C), and Wells Fargo (WFC)

S&P 500 falls back below its 200-day moving average

Top-weighted information technology sector outperforms; consumer discretionary and communications services also show relative strength

Global Markets Mostly Higher
12-Oct-18 08:50 ET
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: +39.80. Nasdaq futures vs fair value: +149.00.

The S&P 500 futures remain higher, trading 40 points, or 1.5%, above fair value.

Equity indices in the Asia-Pacific region ended the week on a higher note, rebounding from losses recorded earlier in the week. China sold $3 billion of dollar-denominated debt to a bid-cover ratio of 4.4 with most investors bidding for the shortest duration. $1.5 billion worth of 5-yr debt was sold at 3.25% while another billion worth of 10-yr debt drew a yield of 3.50%. The remaining $500 million worth of 30-yr debt cleared the market at 4.00%. Elsewhere, the Monetary Authority of Singapore tightened policy for the second time since the end of 2017.

  • In economic data:
    • China's September trade surplus $31.69 billion (expected $19.40 billion; last $27.89 billion). September Imports +14.3% year-over-year (expected 15.0%; last 19.9%) and September Exports +14.5% year-over-year (expected 8.9%; last 9.8%)
    • Australia's August Home Loans -2.1% month-over-month (expected -0.9%; last 0.4%). August Invest Housing Finance -1.1% month-over-month (last -1.3%)
    • Singapore's Q3 GDP +4.7% quarter-over-quarter (expected 4.9%; last 1.2%); +2.6% year-over-year (expected 2.5%; last 4.1%)
    • South Korea's September Unemployment Rate 4.0% (last 4.2%)
    • New Zealand's September Business NZ PMI 51.7 (last 52.0)

---Equity Markets---

  • Japan's Nikkei gained 0.6%, narrowing this week's loss to 4.7%. SUMCO, Trend Micro, Tokyo Electron, Shiseido, Fuji Electric, Konami, Asahi Group Holdings, Fanuc, Komatsu, Daikin Industries, and TDK climbed between 1.4% and 8.4%.
  • Hong Kong's Hang Seng rallied 2.1%, but lost 2.9% for the week. Sunny Optical Tech jumped 10.7% while Geely Automobile, Tencent Holdings, Galaxy Entertainment, and Sands China gained between 4.0% and 9.2%. Financials like AIA Group, China Life Insurance, ICBC, Ping An Insurance, and Bank of China posted gains between 1.2% and 3.6%.
  • China's Shanghai Composite rose 0.9%, trimming this week's decline to 7.6%. Anhui Sun-Create Electronics, Anhui Conch Cement, Henan Oriental Silver Star Investment, Huaxin Cement, and Lao Feng Xiang climbed between 5.1% and 6.1%.
  • India's Sensex settled higher by 2.2%, but fell 4.1% for the week. Maruti Suzuki, Mahindra & Mahindra, Kotak Mahindra Bank, Bajaj Auto, IndusInd Bank, ITC, Asian Paints, and Yes Bank gained between 2.8% and 5.9%.

Major European indices trade on a mostly higher note while Spain's IBEX (-0.4%) underperforms, slipping to a fresh low for the year amid a continued rise in the country's 10-yr yield (+4 bps to 1.69%). Elsewhere, the Italian Senate approved deficit targets for 2019 (2.4%), 2020 (2.1%), and 2021 (1.8%), pushing back plans for a balanced budget past 2021 from 2020. British Prime Minister Theresa May will reportedly make a public statement to assure her electorate that Britain will not remain in the Customs Union permanently, but the Prime Minister's office said there are no plans for a public statement at this time.

  • In economic data:
    • Eurozone August Industrial Production +1.0% month-over-month (expected 0.4%; last -0.7%); +0.9% year-over-year (expected -0.2%; last 0.3%)
    • Germany's September CPI +0.4% month-over-month, as expected (last 0.4%); +2.3% year-over-year, as expected (last 2.3%)

---Equity Markets---

  • UK's FTSE is higher by 0.7%, seeking its second advance over the last seven days. Homebuilders and other consumer names are among the leaders with Barratt Developments, Persimmon, Taylor Wimpey, and Barkeley Group rising between 2.8% and 6.4% while Next, TUI, Marks & Spencer, Kingfisher, Dixons Carphone, Burberry, and InterContinental Hotels sport gains between 1.2% and 3.6%.
  • France's CAC has climbed 0.7%. Valeo and Kering lead with respective gains of 4.0% and 3.3%, while ArcelorMittal, Peugeot, Renault, TechnipFMC, STMicroelectronics, Carrefour, Total, and Louis Vuitton are up between 0.9% and 2.4%.
  • Germany's DAX trades up 0.5%. Lufthansa, Continental, Infineon, Daimler, SAP, BMW, Volkswagen, Deutsche Bank, and Siemens hold gains between 0.7% and 2.6%.
  • Spain's IBEX is lower by 0.4%. Acciona, Iberdrola, Endesa, ACS, Mediaset, Inditex, Telefonica, and Amadeus show losses between 0.2% and 3.6%.
 
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