Here’s a super-quick guide to what traders are talking about right now | 08/03/17

Thomson Reuters

Dave Lutz, head of ETFs at JonesTrading, has an overview of today’s markets.

  • US futures markets are flat this morning.
  • The rest of the world is mixed, but mostly flat.
  • Gold, silver and copper are all lower. Oil is up slightly and natural gas is getting hit pretty hard.

Here’s Lutz:

Morning!  US Futures basically flat, with Nasdaq slightly higher, but Russell floundering under the 50d.   Europe is weakening as the session rolls on – DAX is down 20bp on this biggest day of numbers this earnings season – Industrials weighed down by a 3%+ whack in Siemens, but Autos recovering some of recent weakness on BMW #s.  Stronger Euro hit Merck, while another Auto-Parts company (Continental) struggled.  Fins struggling across the continent, but Italy outperforming as UniCredit jumps on #s.  In London, FTSE up small as Retailers rally behind NEXT update and Miners on Randgold.   Volumes are light in the City tho, with FTSE trading 20% below normal trend.   In Asia,  KOSPI was hit for 1.7% as yesterday’s Tax headlines weighed and Samsung was whacked for 2.5% – Taiwan’s Taiex retreated 50bp from multi-decade peaks – Hang Seng off 30bp as Retail Sales disappointed – Aussie lost 20bp, weighed down by Rio

The US 10YY drifts just above 2.25% as investors await tomorrow’s Payroll data.  The DXY just off 15month lows, with Euro lower as Weaker EU PMis weigh. While Sterling direction awaiting BOE at 7 as it rests near 11month highs.   $/Y is basically flat, and commodity currencies like the Aussie $ are broadly lower.   No rebound in metals, with Gold, Silver and Copper all 50bp+ lower – while the Oil complex seeing a weak bounce early.  Natty Gas the commodity to watch – it has been hit for 5% over the last week into today’s inventory report.   

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